Jump to content
House Price Crash Forum

Geemo

New Members
  • Content Count

    12
  • Joined

  • Last visited

About Geemo

  • Rank
    HPC Newbie
  1. Geemo

    Negative Equity

    My Story , it was all very strange days indeed : In 2007 i was working away ( isle of man ) from home trying to keep up with my mortgage and connected loans , i was struggling after a divorce ( bought her out ) . At the time i came home every 5th ( ish ) week for a Break , and everytime i was amazed at the ( rising ! ) asking price of a house for sale in my street . Long story short , i got mine valued , put it up for sale , it was a no brainer , another 10 years struggling or sell and walk away with enough to buy and own ( on the isle of man ) . So in the space of about 6 Months i went from a financial wreck to a Home owner with no debt !!!! you could not make it up !! At the time i was selling , i was getting advise thrown at me " youll never have a home back here again " ... " but its your home " ... " wait , they are still rising , dont sell yet " It sold really fast , but i was very happy , had done my sums ,, and the buyer very aggressively was saying " i'll give you the asking price it sell to me and dont take any other offers ! " ,, ok sold !! .......... i wll always remember the look he gave his mum when leaving after viewing , it had a smug look of ' sucker ' ,, but i was happy . I pushed the solicitor to hurry the process , due to me being home again in 3 weeks and that would fit in well . House sold , money in bank , bought an apartment in isle of man cash :-))) Seriously , 1 week after completing , the news Headlines started about values crashing , the market was a mess . This was when i became interested in the whole subject/enviroment , found this site and read with interest on peoples views . i dont pretent to be a finacial expert , and know i was lucky in timing , circumstance and ( again ) TIMING !!! ) I do take pride in making the move and not listening to so called experts and friends . Since then i sold up and rebought back here , home , still morgage free and incredibly happy . My old house since i sold it , has been empty to this day , become run down and a sorry state ,, i heard the buyers ( son and mother ) have never been near it . what happened here is anyones guess !!!!! Getting to my point , today , i have friends still living in their big houses , with big gardens , and cant afford a night out . Theyd used the house as a hole in the wall , holidays , cars , flash keeping up with the jones bling !!! . Changed days ........... And who do they brame ? The Banks , and each other ( the married couples ) . My opinion is , yes the banks defo , it was to easy ,, but thats just it ! , it was to easy and it never really added up , im amazed there was not more people screaming from the Estate agents window " THIS IS CRAZY IT DOESNT MAKE SENSE " ,,,But also Labour/Blair/Brown has a lot to answer for !!! the rolled it out and walked away . Bottom line if you signed for it / aggreed to it / bragged about it ,, YOU BOUGHT YOURSELF IT ,,
  2. Well , it will be no surprise to you my solicitor adviced to walk away also .
  3. Really ? , do you know which apartment ?
  4. lol , i hav'nt lost any money ( yet ) . You had to bid on them ( last year ) . It was a first floor apartment with a massive roof space , which already as a window as you can see in the picture . adding a 3rd bedroom if wanted in the future . ( thanks again for everybodys input , its giving me alot to think about )
  5. i hear everybody loud and clear , , and in defence of me even thinking about buying this apartment : They are finished as a shell , ie all electrics finished , heating finished including radiators ( just needs a boiler fitted ) , all plastering/floors finished . So its a blank canvas , needs kitchen fitted , bathroom fitted , doors fitted , carpets fitted ... move in . Theres only 4 to a block , all got separate doors . It , to me seems a good location , a bit better that most apartment sites as in its a small development , lots of parking and quite private . ( not like the belfast multi storey blocks ) . Im told the site will be finished ( for all it needs ) by the bank and contracts are in place . this will be confirmed in final contract on purchase . And for reference im buying for £55,000 . 00 . Like i say i havnt bought it yet , still thinking about pulling out , loosing heart in the place , , but it was going to be a home , mortgage free , new start , with few overheads .
  6. Hi , Its a shell im buying , there is no lifts in the apartment block ( 4 apartments in my block ) . the management company is setup , and the actual site is 80% finished with contacts set out by the bank ( seller ) to finish everything .
  7. Hi , Looking advice and/or input from anybody else who is buying from this site or knows anything regarding it ?! . I'm in the process of buying 1 of the apartments , have been for near 7 months now , it's taking forever ( paper work and Nama ) , , estate agent not very helpful , nor solicitors , , it's got to the stage I'm thinking of pulling out ( want my life back lol ) . Any advice helpful :-/ Thank you
  8. Geemo

    Island Update

    Hi all , No posts have been on the forum re The IOM for quite a while . Its a Place that interests me , but to be honest i dont know to much about its market place of late ( was last on the island in Jan09 , the housing market seemed to be holding its prices and things where ok ). Any advice/information would be helpful . Thanks, Gee
  9. Hi all , this is my first post . Been reading these posts with great interest for sometime . My question is , Is it a good time to sell in the Isle of Man ? I was lucky enough to sell my home (N.ireland ) august 07 before the &%*! hit the fan !!. Made enough money to buy a great studio apartment in the Isle of Man , currently bringing me £500 pcm income . ( renting back in N.Ireland at moment ). Since then obviously house prices ( n.ireland ) have crashed , making me think maybe its time to sell and buy back home again . Really my question is , " Is my money better in IOM or better to take advantage of lower prices " ??? Any advice welcome . Many thanks , Gee
  10. Hi all , this is my first post . Been reading these posts with great interest for sometime . My question is , Is it a good time to sell in the Isle of Man ? I was lucky enough to sell my home (N.ireland ) august 07 before the &%*! hit the fan !!. Made enough money to buy a great studio apartment in the Isle of Man , currently bringing me £500 pcm income . ( renting back in N.Ireland at moment ). Since then obviously house prices ( n.ireland ) have crashed , making me think maybe its time to sell and buy back home again . Really my question is , " Is my money better in IOM or better to take advantage of lower prices " ??? Any advice welcome . Many thanks , Gee
  11. Geemo

    Advice

    Hi all , this is my first post . Been reading these posts with great interest for sometime . My question is , Is it a good time to sell in the Isle of Man ? I was lucky enough to sell august 07 before the &%*! hit the fan !!. Made enough money to buy a great studio apartment , currently bring me £500 pcm income . ( renting back in N.Ireland ). Since then obviously house prices back home ( n.ireland ) have crashed , making me think maybe its time to sell and buy back home again . Really my question is , " Is my money better in IOM or better to take advantage of lower prices " ??? Any advice welcome . Many thanks , Gee
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.