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House Price Crash Forum


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About sabsachbolo

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    HPC Newbie
  1. 38000 is more then double the figure for the no of registered users on this site Way to go HPC
  2. Well, My story is rather humorous. I have the mortgage offer in place since 2 months but i didn't manage to find a buyer who are willing to sell for less then 25% even. Areas : Gu14, Gu15, Gu51 Here is the stats of my offers ( actually I made a lot more ) 2 Bed Apartment in GU51( Fleet) Asking 159,500 offered 140,000 ( Rejected, put on rent ) 3 Bed apartment in Gu14 (Farnborough) Asking 149500 ( Peak price 170,000) Offered 135,000 ( Rejected, sold next day for 143,000) 3 Bed Apartment same as of above ( Asking 149,500) Sold same day ( I was late by one hour to make an hour ) 3 bed Semi detached in GU14 ( repossed) Sold for 240,000 in 2007. Asking 194,500 ( offered 170,000 rejected, still available for sale) 3 bed semi detached asking GU14 ( 214,500 ) offered 184,500 ( sold in 2004 for 194,500) ( Rejected and now sold ) 3 Bed terrace in GU51 Asking 175,000 offered 160,000 ( Rejected, still available for sale) and the list goes on
  3. How about free homes 60 -70 % drop in property prices will make UK homes even cheaper then rural locations in India. I bet if this happens you won't be surprised that you will be statying in future as tenants as UK will become a dream destination for outsiders to dump their money in.
  4. I totally agree with you. You summed up what I am trying to tell here..
  5. I got your point mate. Well, I can't rely on Government to provide me shelter. There are already lot of people in Council's waiting list. My point is if some one has to buy ( either myself or a landlord ) so that I can get some place to stay. Can anyone reply to a very simple query? Who outnumbers whom? houses or families ( considering one family needs a house to live) in UK as of now.
  6. Hmmm interesting.... I don't understand who is this landlord here? Is he not among one of us? If everyone decides ( including the landlord ) not to buy then where can I find places to rent. So you agree that atleast some one should buy either me or the so called landlord.
  7. Oh I missed this point. But who will be the landlord . If i am correct someone has to buy the house which I am gonna rent.
  8. Following your advice if everyone decides not to buy a house then where will the people stay. Under a tree ?????
  9. Well as I said it is all about right time, right price and right place. Now I will be paying around £600 in interest in all instead of paying 750 in rent..... And we got our own property at a good price ( price of 2002) which will bounce back at some point in future. HPC can't continue till eternity...... My landlord has so many BTL properties. I am not the reason for HPC, he is the reason. I am doing good for economy by buying and manging cash flow and generating some revenues for banks.
  10. nice one mate.. I totally agree with you. I came to this site looking for some good advice but I found that here everyone is wishing for HPC instead of waiting for it happen. Its about right time, rightplace and right price. I did manage to buy something recently without putting anything from my pocket. 25K Personal loan with a monthly repayment of £380. and a loan of 100K with 25% downpayment uisng the personal loan securing a tracker at 4.04%. In all paying around £750 exactly the same as my rent. Also I manage to get the property at 25% less then the peak price.
  11. Well, What if I am getting a 2 bed apartment in Park road with a garage and 23' feet lounge below 135K. Still you think I shouldn't go for that.... My preference is to stay near town center.
  12. Thanks for your reply mate. This is the kindda reply I was looking for. What you think will be a good price in the current market to buy a 2 bed apartment in Park road camberley. There has to be a price. Please note that the apartments in question were being sold for around 120K in 2001-2002.
  13. Thanks Guys for all your comments but I am not sure if you are already actively involved in the house hunting or not as it goes by the fact that you will see the reality once you are out in the market. I have been outbid already on lot of proeprties as I quoted quite less and once they were priced ok they got sold in no time. Typical drops on those were up to the tune of 20%. If I am correct 30% or 40% is the average reduction across Uk but doesn't it mean that somewhere drops will be more then average and in some places drops will be less the average. One apartment went in the same building which was listed for £160K couple of weeks ago as I don't know the sale price yet as it is Sold (STC). Well it is very much possible that there will be places wher the prices may drop lets say 60% and there may be places where they will drop may be 20% to make an average of 40%....
  14. Thanks for your reply. Well, I am talking about town center location and in both cases the apartments are located within 200 meters of local train stations. It is quite easy to predict the falls but as a first time buyer i need to find a nice time to find a bargain. I can't simply wait till market bottoms out as no can predict it quite right. My simple theory is that there are predictions of 30% drop in house prices by most of the people. Don't you think they apply for apartments also or you feel that apartments will fall more then this. My offers are calculated at around 25% of the peak.
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