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House Price Crash Forum


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About ydbc

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    HPC Poster
  1. My comments, for what they are worth. 1. Ask yourself if you would be able to continue paying the mortgage if either one of you should have to stop working, for whatever reason. Would you still be able to cope? 2. NOBODY knows if house prices will fall. Every bit of logic says that they should and, in another time, they would. However, it would seem that banks, building societies and government seem to be doing everything they can to keep prices up because the consequences of a significant fall would be, in their opinions, disastrous. Others, including many on this forum, believe that prices must inevitably fall off their unsustainable tight rope. On the other hand many people, on both sides of the argument have stated openly that prices are highly unlikely to rise in the near future, which would seem to give you time to reflect. With so many properties now up for sale, it would seem, coupled with the previous sentence that there is no need to rush into a purchase at this time - but that MUST be your decision. 3. You have no need to apologise for asking for advice. You cannot know everything and there is a wealth of experience on this forum. Good luck, whatever your decision.
  2. jonb says:- Inheritance tax is paid by the the estate of the deceased, not the recipient. .. which is correct in the UK. However, in France and a few other countries (and the original post doesn't say where the property is), IHT is paid by the recipient, so the advice, given above, to consult an expert is very sensible.
  3. On second thoughts, any gain in the amount of sterling received on the sale of the French property, would probably be far out-weighed by the manic property price increases in UK during that period. So although the French property vendor would come home with more pounds in his pocket, those pounds would probably not buy him the same value property as the one he sold in 2000. On the side issue of the NHS as raised above, I think that I am right in saying that all citizens of EU countries are entitled to health treatment anywhere else in the EU - BUT the nominal cost of that treatment is then charged back to the "home" country.
  4. Then on the other hand .... If a property had been purchased in France, say in 2000, the exchange rate then was around €1.50 to the pound. So a 250,000 euro property would have cost a UK purchaser about £167,000. Ignoring any increase in the price of the property over the ten years, with the exchange rate now being about €1.13, a UK vendor would now receive some £221,000 when converting back to sterling. Add on the price increase over that time, that vendor will have done very nicely.... or am I missing something?
  5. I am not against the principle of the EA's advertisement. In France, where we live, it is the practice (law?) that if, after having signed an agreement to purchase, either the buyer or the purchaser backs out, the defaulter has to pay 10% of the agreed selling price to the aggrieved party. This penalty is waived if certain conditions, mentioned in the sale agreement, cannot be met - e.g. Failure to obtain a mortgage, It seems to me imminently fair to all parties in the chain.
  6. We know of two students who intend emigrating after graduation, not only for a "better" life but because they believe that they will not be chased for loan repayments after they are out of the UK tax system. If they are correct, does this mean that we could be educating millions of students for the ultimate benefit of other countries? What a huge debt burden this will be upon the tax payers.
  7. The Haliwide figures are really fairly meaningless whilst volumes are so low. That is especially true at the present time when, we are told, FTB cannot (or won't) buy, meaning that the lower priced properties are being left on the shelf, and therefore cannot be included in these calculations. So, if only the higher value houses are actually selling, that results in the average price of properties sold being higher than if some of the starter homes were being shifted. Conclusion? The Haliwide figures are "correctly" showing the average value of property sold, but hiding the real fall in values. It would be interesting to see how many properties are being sold now in each £100,000 band compared with the same months last year. That would give a truer indication, surely?
  8. We have lived in France since 1995, but have been watching this site for over a year, hoping for the expected property prices fall to come sooner rather than later so that our son can get his first foot on the ladder - at the age of 40! (He spent some years abroad during the "boom" time, so that when he returned prices had rocketed well beyond his reach). Reading this site has made us weep for him and others in a similar situation, and we cringe at the government's incredible ingenuity in finding ever more ways to keep the bubble inflated, and we really can't see those prices falling as much as so many on here predict and as we ALL hope. So, we are now trying to persuade our son to leave England and move to France where he could get so much more for his money - although earning a living, even speaking French, could be difficult. Anyway, this thread is all about dilusionary sellers in England, so thought you might be interested in the following. This is a house in our neighbouring village, which has been on the market for about 15 months because, as our local mayor says, "It's far too over priced". At about £340K, reduced from £390K, we wonder what this might fetch in England right now? http://www.immogo.com/en/house-977/Magnificent_Maison_de_Maitre_in_beautiful_countryside.html
  9. It's difficult to take Zoopla seriously. Some of their valuations are, on the face of it, ludicrous. See this example:- >> 40 Ballards Green, KT20 6DA >> Sold in Sep 2009 - £365,000 >> Zoopla current value £366,000 >> Increase 0.27% >> >> 48 Ballards Green, KT20 6DA >> Sold in Sep 2009 - £250,000 >> Zoopla current value £314,000 >> Increase 25.6%!!! Both bought in the same month, just three houses between them and yet, even in the present climate, Zoopla reckons one has risen over 25% in just 16 months, whilst the other hasn't moved. Must have been that oil well found in the garden of number 48 - or maybe something seriously wrong with the Zoopla algorithm
  10. We didn't "invest" in the Icelandic banks. We had a deposit with Derbyshire Building Society which got taken over by one of them. We had no say in the matter. Luckily, our bond matured and was paid out just a few days before the collapse.
  11. We are equally interested but for a totally opposite reason. We are selling in France in order to move back to England and are worried that the pound will strengthen thus reducing our purchasing "pot", so how to protect our present value is our objective. As Kenzdawg asks "Any thought's?"
  12. Crash? There is no crash! Well, not if you look at Zoopla. 48 Ballards Green, KT20 6DA sold in September last year for £260,000. Today's value (per Zoopla) - £320,000!!! That equates to a 27% rise in just fourteen months. So the original poster got a bargain ... or maybe there is something wrong with Zoopla's arithmetic (see also today's Daily Excess article based around Zoopla's figures. BUY NOW before it's too late!
  13. How about if it became law that bankers' pay plus bonuses should not exceed the percentage paid out in annual dividends to shareholders? So, if dividends go up by, say, 5 percent, then the salaries could rise by up to 5% the following year. .... and if dividends go down, then salaries should also reflect the percentage fall.
  14. I feel sorry for the poor man - or rather for his daughters. As he hasn't made his hoped for £3m, presumably they will now have to go to the local comprehensive, and how are they going to fit in with names like Kezia, Zanthe and Talia?
  15. Maybe sellers are being deluded by "What's your house worth?" type of web site. For example, I found a property yesterday, in Tadworth, Surrey, which was bought in September of last year for £250,000 and is now "valued" by Zoopla at £322,000! An increase of some 29%! I don't think so, but if the web site says so, why should a seller argue. Anyone else have examples of similar (apparent) over valuations by such sites as against AEs? (I did try to raise this a s a separate thread, but, for whatever reason, it was not accepted.)
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