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House Price Crash Forum


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About gabriel959

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  1. Realistically I would say that house would be worth 250k to 300k by the end of this mess. If you really need to sell I would put it for 399k and you will sell it within a couple of weeks.
  2. 4.64% down last time I looked. Green shoots my bum!
  3. I am preparing to put an offer for a new house that is on the market for £250k of £170k-£180k. I really don't think it is worth anymore. It was originally on the market for £315k!!! but if you check the LR prices you notice that there was a similar property opposite (3 bed semi + garage that this one hasn't got!) sold in peak period £250k in 2007! The 4 houses of the dwelling have been for sale for over a year now (dec 07) and neither of them have sold so I think that if I go with a cheeky offer of £170k but with the advantage that I can move in quickly and with facts that the property market is deteriorating I would probably get it for that much. What do you guys reckon?
  4. I think you might be just about OK mate. I think prices will go down to 2001 prices, I might be wrong though but that is what I have estimated.
  5. Hey mate, You better start looking for a new job or training in a different field. You will lose your job through this depression. The banks are gone and have got no cash, if there is no cash (apart from the one from the rich (2% of the pop only!)) no one will be able to buy a house at current prices. Cheap credit is not going to come back anytime soon (if ever!) - banks haven't been this bankrupt since the 30s so no worries, they will go back to responsible lending whatever Mr Brown or whoever succeeds him comes after. If they impose on the banks to lend as 2007-2006 then this country will go bankrupt and there will hunger and chaos. The house prices were all fake, it was fake money that was never there, you can either realize now and make a tiny profit by marketing houses sensibly or lose big time. I don't really care if you believe me or not - I know it is going to happen.
  6. That Neil guy is completely right. I sold my 3 bed-semi in a nice area in Lincoln last year in August for £110k. The house was probably worth around £135k at peak so we started with that price. Then we went down to £133. We didn’t have a single viewing. I asked myself what is wrong? So we went and changed the price to £125k in July. Nothing! Then I checked on this place and GEI and some friends and they recommended me to dump it. My mortgage was of £90k but they told me that if I waited and waited I would probably be in negative equity by sometime in 2009. So we decided with the help of our state agent to put it at a really low price (competing with smaller properties (2bed) in worse areas!) Ding! We put it for £113k and the house sold within the week, we had about 6 offers and we accepted the highest and quickest. My recommendation to the sellers is. Don’t wait, the credit is just not there. Prices are going to go back to normal levels where most people can buy. I am now a buyer and believe me, I am looking for even bigger discounts because the clock is ticking and am not prepared to pay more than 3 times my wife/my salaries. Probably lower as the availability of credit is going to be in very low supply. Sell now for 30% or prepared to sell for 40% or 50% in two years time
  7. I am an immigrant myself and I won’t probably go back to my country of origin (Spain) unless things here become really unbearable. I believe the migratory effects are almost self-managing. If the UK economy is crippled most immigrant people will go back to their home countries or migrate to more prosperous countries. I don’t think that a Tory government will make a major difference unless they start to pass laws against immigrants.
  8. LOL - I didn't know that!!! Cheers for the info - that's why they are always so low compared to Halifax/Nationwide ones.
  9. I am sorry for the people - happy for the business. I hope they go bankrupt
  10. Indeed, I don't know which prices were agreed for those properties to be honest - but as I said they had already been dropped £60k. Doubt it would have gone down that much. Do you think I could call them to ask them what the offers were like?
  11. AS most of us, I have been keeping a close eye to the property market for the past few months. I saw clear declines from September to December but it seems thinks are starting to pick up … I have no scientific evidence (only a bit of info from rightmove and my calls) but this is the evidence I have found: 2 weeks ago I went to see with the wife a res. Dev in Stow Cum Quy - Cambridge for a 3 bed property. They had 4 available for sale – I called yesterday, 3 reserved and 1 under offer!! Ok – the builders had reduced the price from a ridiculous £299.950 to a more reasonable (but still inflated imo) £240k. The houses are nice, but no way they are worth £240 (or even £220k!) when they are not even in Cambridge. But it seems they are as they are now gone! Ho-hum! Also, some houses I got shortlisted in the Cambridge area have been going up – like one in Fen Ditton, one in Teversham is now under offer, the same goes for a few in Cambridge. Guys, what if we got it all wrong and prices are really starting to pick up?  Your opinion? Cheers
  12. Thanks for that. I have seen that! I am currently living in one of those but to be honest want at least 3 bedrooms and preferably a bit less litter (it is really that bad!). I would like to live on the edge of town Problem with Girton as far as I can see is quality of the schools, their OFSTED reports are not that great. The good thing about Fulbourn (IMO!) is that it has got a good bus service and the village itself is nice. It has also got a few pubs, shops and the Cherry Hinton Tesco's nearby. Problem is that the access to the A14 (necessary) is not that great. Cherry Hinton looks a bit like you say, huge council state plus a tesco's but it doesn't look bad, I had a walk around there and people seem ok. Only problem with Histon is that it seems to have huge traffic congestion problems but yes, you are right it is OK. What about Cottenham and Impington? Thanks a lot for the review! - to be honest, Chesterton is out of the question, I just don't like the place. About getting into town, that is not a problem as neither my wife or I work in town (I work near Fulbourn, my wife in Swavesey). Cheers for the extensive review again though
  13. Anyone knows which are the worst areas in Cambridge? I have lived in Chesterton and that's a no-no for me. The area around Cam Causeway/The Green/Franks Lane is horrible. Full of drunk kids, and bottles thrown at the window at night. I have also heard that Kings Hedges and Arbury are not good - I had a glimpse at Arbury and looks bad so that two less on my list. Is the East Bramwell/Fen Ditton area any good? I am living in the edge of the city at the moment (Dunsmore Close) in that area and although the area itself is quiet and the neighbours nearby are all really nice I am not so sure about people in Howard Road, there seems to be loads of litter and in general gives you not a nice feeling. Anyone has got any ideas (preferably north of the city) Girton? Milton? Histon? Fulbourn? Cherry Hinton? Cheers
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