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Everything posted by jimmyblueeyes

  1. Received an invitation from a local EA inviting me to join a roundtable discussion entitled 'Lets talk property and Brexit'. Blurb..... In the wake of Britain’s decision to leave the EU, many of us are left wondering, “What will Brexit mean for me and my property or, indeed, properties?” While no one can answer this question with absolute certainty, we can take our concerns to the experts. Join the audience of our round table, with experts from the world of estate agency, lettings, finance and tax, and commercial property. We’ll explore the impact and opportunity for property – and what you should be considering – when Teresa May triggers Article 50 before the end of March 2017. Anyone here have any suggestions for questions for the panel?
  2. No point thinking 'I wish had bought Swiss Francs or bought a house in 1997 etc etc' just be thankful for what you have got and the excellent opportunity you have ahead of you with no debt. A recent study revealed something like 16 million people in UK have less than £100 in savings so you are doing ok. Might not feel like it but you are.
  3. But the UK cannot pull away from the foreign capital teet.... Interesting take on it here.... https://iiblack.wordpress.com
  4. Some great points, we are renting direct from landlord so no letting agents to consider. Perhaps we are overthinking a little and should just offer what we feel it is worth, expect that to be rejected and let the negoiations go from there. Will keep you posted.
  5. Not being dragged round countless depressing open days looking at tiny shoeboxes or dealing with EA's is quite appealing to me at the moment so we are considering making an offer to the landlord (towards autumn/winter). Apologies if this has been discussed elsewhere but would like to hear people's experiences or advice if anyone has experience of it. I have met with one couple who have made it sound relatively panless and less stressful for both parties. We like the flat, love the location and neighbours and our landlord has said that if we ever moved out he would sell up (lives abroad with family and never coming back to UK). He seems a fair bloke who never has a problem in getting things fixed promptly. We know that it needs alot of work (roof needs looking at, new kitchen, landscaping, new windows, carpets, rewire, rubbish boiler and new bathroom) and have started to collect quotes from tradesmen and 3 builders, we have also been viewing similar flats for the sale in the surrounding area, looking at past sold prices etc. So.... Has anyone on here ever done it? How did you approach the valuation? Best just to offer a low ball price bearing in mind the work needed to be done and go from there, or get valuations as part of mortgage application or independent surveys done first that include a valuation? Bit reluctant to get EA's involved as despite an explanation of our circumstances I cant help feeling they would offer higher valuations or pie in the sky prices that are not realistic knowing the amount of work required.
  6. Do you know why they are selling? How long have they lived there? If its a forced sale i.e death or divorce then a very cheeky offer now might work. My brother bought his house from a recently divorced couple and they took the first offer (which was significantly under asking) but this was around 2012. It had been their long term family home and the guy especially was in bits, just wanted to get on with his life, quite sad really. They had been there over 15 years so seen enough of an price increase to get out and get on with it/ Bro didn't miss about with the '3' offers business as he stated it was the maximum he could borrow (which was obviously not true). Vendors who are moving on from a house they have only been at for a 1-3 years may be less inclined to accept a cheeky offer but everyone has their own greed level.
  7. Interested to hear your experiences of flat hunting in Bristol as we are planning on looking in the depths of winter this year (if prices become a little more sensible). I was born here and have been lucky enough to live in several areas of the city and each has its own flavour - Clifton, Clifton Village, Harbourside (City Centre), Brislington, Bedminster, Gloucester Road and now Redland. I can honestly say city centre living and Clifton were not for me as they had little or no communty sprirt or hardly any Bristolians living there! Very unfriendly compared to other areas as it is much more transient living. The harbourside is good in the summer but a little dead in the winter but some great apartments and will always be popular. But it's amazing how things change so quickly as I remember not that long ago Crest Nicholson were really struggling to sell flats in the Harbourside and a lot of them had to be flogged off below orignal asking price, some to the council! I know of someone who got a good discount at Whapping Wharf recently and I have registered for the new builds at Paintworks just out of interest and they text me every now and again offering to pay legal fees and costs associated with buying an overpirced flat at risk to flooding (yes the Paintworks has flooded in the recent past). I think they will struggle to sell in this climate and I dont believe all the hype about Bristol as wages are not that of London - £500k would get you a 5 bed house with huge garden about 20mins from the city centre so anyone paying that for a new build flat in the most congested city in the UK is a very 'special' person indeed in my humble opinion. Not advice but at 24 have you considered renting your way around the city for a bit before committing to somewhere? You might find somehwere you love that you would not of considered before.....
  8. Average house sale can take months so I have started to keep an eye on auction results post-brexit. Sales are still going above guide prices roughly 5-10% but that seems a drop on a few months ago.
  9. For anyone thinking of emigrating to Europe, buying a motorhome and travelling around first would be an amazing way to find the perfect place to settle down. Just come back from 2 1/2 months in France and you can park up in most towns and villages for free or 8 euros per night. Spend a few weeks in one place and if you dont like it move on somewhere else. Girlfriend and I seriously considering a move there permanently, not that I mind renting per say more angry and frustrated at what society is becoming like in the UK. I can only see the wealth gap increasing in England and France and Spain just seem 'fairer' to me where you can live a good quality of life outdoors. Might not be the case but thats what it felt like in the time we were there. At this point in life much better to have options than trapped in a huge mortgage.
  10. 80% falls would probably mean a breakdown in society within the UK but I am hoping for 15%-20% falls within the next two years. It will cost me another 12K grand in rent to wait but that would be about £35k off the kind of house I am looking at. In 2008/2009 I learnt you just have to be ready to pounce and be decisive when sentiment takes a downturn, was waiting too long for the right house and thought prices would continue to drop then HTB came along, mortgage relief etc. A Tory government will do absolutely nothing to make housing affordable whatever they say in the media but perhaps if Brexit becomes a shambles and the global economy slows then things may accelerate further. I also have a Plan B if the Govnt continue to support the housing market at all costs as should everyone else. Its a mistake to think the Govnt wont throw everything at keeping prices high which they will until they cant any longer. How long that might take is difficult to predict.
  11. Thats interesting streamingfreedom, cant say I have not noticed that effect but purely anecdotal but the last 3 home buying couples I know have come up against the mysterious London buyer and I believe Estate Agents are using the 'London buyer' to induce fear and panic into locals in Bristol to bump up their offers significantly. They even use it in there marketing literature, saying 'get in there before the Londoners snap up the bargains' that kind of b**s***. It can happen as there is so little value in the market. Once the London market drops (or the media tell us about what is really going on) then prices in the city may become a bit less detached from reality but at the moment it still feels like owners and EA's are just plucking prices out of the air in some areas of the city and some mugs are paying inflated prices to live in some pretty rough spots. Not a good time to be buying in Bristol. Houses in Somerset looking ok value in comparison and decent places with land seem slightly slower to move but then you are faced with really horrendous commutes if you work in a city like Bristol or Bath where the traffic is generally a nightmare.
  12. I have this in my saved properties list. http://www.zoopla.co.uk/for-sale/details/34301200#wIekQOq5vRkYRQli.97 What always puts me off are the ghosts.
  13. This summer could be entertaining indeed if Brexit happens, the economy continues to stagnate and/or we get another US interest rate rise. But I agree with other posters that falls will be drawn out over a long time not an epic implosion. Sentiment in 'bricks and mortar' is just too high in the UK and I believe pensioners and workshy individuals will continue gobbling up BTL even when the BTL writing is on the wall and the business model makes no sense. Or ... We don't get Brexit, England win the Euro's, the sun comes out, 0% interest rates and house prices rocket another 10% per year until Labour get voted in and it all collapses immediately. Until sentiment is dented or destroyed I will keep adding to my deposit and remain patient.
  14. From the classics 'Domesday Scenario' I thought a post by OnlyMe could be relevant to this thread...... Unlike stock market bubbles, real estate bubbles don't pop. Collapsing stock market bubbles are characterized by a sudden collapse in prices because stock markets are highly liquid. You see huge volumes of transactions at ever lower prices during a stock market collapse. Collapsing housing bubbles, on the other hand, are characterized by illiquidity, a sudden collapse in transactions. Buyers and sellers seem to disappear. The reason is a reversal in the psychology of buyers that developed at the top of a speculative housing market. Buyers had been buying at prices they knew were too high but on the assumption that they'd be able to sell if they needed to. The thought was: "Ok, maybe it's overpriced, but at least I'll be able to sell it later for at least what I paid for it, but likely more." What happens on the way down is that houses go on the market and just about NO ONE shows up to look. That's because buyers weren't buying earlier primarily because they needed a place to live, but because they thought the price would likely rise and that, in any case, they'd be able to get out when they wanted with all of their money or more. On the way down, neither condition is true. So buyers stay home, so to speak. But can't buyers be enticed by declining prices, by bargain hunting, you ask? No. Once housing sale transactions suddenly fall from, say, several hundred a month in a large community to, say, one or two a month, this creates fear and loathing about prices. Long periods of time pass when there are no transactions at all. ​So what happens now? Are transaction rates grinding to a complete halt a precursor to significant price falls?
  15. I can relate to many things here. In 2008 I decided to save for a large deposit deciding I wanted to live somewhere nice but never wanted to borrow much more than £100k or buy a small flat in cash (in part due to anger towards banks). In 2009-13 that was looking achievable but prices here in Bristol have become insane in the last year or so and that is no longer realistic unless I want to live in an ex-council estate on the edge of the city or inner city drug den. Anecdotal stories from friends buying here have all come up against 'mystery buyers' from London and estate agents must be absolutely loving it. Friends recently days before ready to complete get the news a mystery London buyer offering £10k more in cash so straight away up their offer, that kind of thing. I have seen houses sold in Sept 2015 fro £200k recently put on the market in 2016 with an increase of £100k! Most house now are all marketed with offers above. It is truly unbelievable and definitely NOT the time to buy a house here. That said many new build 1-2 bed flats are seeing reductions. Whether it's true or not that there is a flood of London buyers moving West I can't believe it can continue at this pace as local wages are not that high and Bristol is not London, not everyone from the capital wants to move here as there is just not the jobs or infrastructure and many poor schools. Yes you could commute to London but that would probably slowly destroy you. Patience is the key, most people in only ever think ahead in terms of months to a year or so and many always outreach themselves which in the past has been proved a good (lucky) decision but may not be in the long term future. It's frustrating at times but you have to take the longer term view and keep building that deposit for a house you can live in for 10 years if you are able too. Good luck.
  16. Roll up roll up..... half price sale in Somerset. http://www.zoopla.co.uk/for-sale/details/34865498?search_identifier=f1503409e6eec8d06890da098234a733#T1l14I8q1uijzoFS.97 Been on the market since 2014, perhaps the penny has finally dropped.
  17. As does very cheap beige food and mass produced booze. I will be looking to invest my deposit in Gregg's and with millions of Chinese soon to be drinking away their sorrows with Johnnie Walker (after seeing their 'wealth' destroyed) Diageo might be worth a punt.
  18. I grew up in Bristol and having lived in Sydney you might find a move to Shepton Mallet a little quiet! Unless you like dreary pubs and banger racing. Not much there to keep you entertained but nice surrounding countryside. Living there and commuting to Bristol would be an endurance test but if you don't mind that then other areas to consider are Mendips (beautiful) Glastonbury (again a commute but loads going on and students help keep it lively, plus friendly locals), Chew Magna (expensive) or across the border in Chepstow where you get a lot more for your money. I have friends who commute from South Devon and even Bude in Cornwall to Bristol each day and whilst it is slowly killing them I do envy them on the weekends waking up to a nice surfing beach every Saturday morning.
  19. Heard the result of the election here in Argentina and still in utter disbelief people would consider another 5 years of the Tories. But.... me and the missus (both 35) had already decided that life was too short to live in a terrible slavebox a couple of years ago and since October 14 have been travelling the World. Had one eye on the election and any house prices slump but that looks a little unlikely now and to be honest life is great without the stress of homeownership or looking to buy so no immediate plans to return to UK. We currently rent a lovely 2 bed apartment in Buenos Aires. Ok there may not be too many job prospects here but our US dollars we receive each month from our ISA's means we can change them on blue market and live for 30% cheaper than the official price of things here for locals. Flat is about 600 quid a month and fantastic, paid in USD. Life here is more about family,, sun, exercise, food and laughter plus learning new personal skills. The government and police can be very corrupt in Argentina but coming from the UK thats not something of a culture shock! Crime is a problem but only in some areas, again a bit like any UK city. I can see us returning one day to UK but not until the current mess corrects itself at that could take years! Anyone considering the UK, even if it is for a year or two then do it! No regrets and new perspective on life.
  20. I found HPC in 2007ish when in my late 20's I luckily dodged the bullet of buying a 3 bed house in the summer with my ex girlfriend. With HPC help I could see it was an artificially credit inflated sum for a house in a poor state, the value of which was astronomical to local average wages. We continued to rent and in October and I watched with fascination almost relief at the financial crash which meant no one was buying and less pressure from family and friends to 'get on the ladder'. Currently I have close to £100k in savings now that could be used as a deposit but will only buy if a correction in prices occur, perhaps when interest rates gradually rise. If not, I will continue to rent and save for a bigger deposit whilst travel around the World as I try and do each year. I refuse to buy anything over valued which I believe most houses and flats are in the UK. Different paths, as long as you are happy I guess. I find it interesting that despite all this noise about increasing house prices in 2014 my colleagues expressions have definitely changed from 2007 when you tell them you still rent. In many cases and for lots of people my age its changed from pity to envy. I think thats simply because I have so much more freedom than them and still live in a beautiful area where those (amongst my friends and colleagues) who have bought have seriously had to compromise on both size and location of house. Best of luck
  21. Hi All There are plenty of 2011 specific Share tips and share competitions for 2011 out there in media and investor forums and I am interested to see if anyone on HPC fancied chancing their arm at what shares, sectors or markets may fair well in 2011. Could be interesting to revisit this thread on New Years Eve 2011 to see how we all did and whether or not I put my money where my mouth is. Feel free to suggest individual shares or name sectors you think will do well next year in inflationary conditions with low consumer spending (my thoughts). Lets have your watchlist/tips and a brief reason behind it if there is one! Im going for Oil & Mining companies listed on the AIM market and Utilities as a much more defensive option. EO. DTG MTA AGQ SSE Believe its going to be a solid year for essentials such as Utilities and could start to see higher demand for oil and higher oil prices towards the end of the year. Happy New Year!
  22. Just up the road from me 2 bed flat on Wells Rd in Totterdown has been on the market for an age and was £110k in March and now just £44k and thats without making an offer. Its obviously a s**hole but thats a pretty significant drop, desperate seller or landlord in Bristol finally getting realistic and getting what they can before further drops in the area.
  23. I had a good look at 11 Paultow Avenue, Bedminster and was a bit surprised to see it go for £166,000. Trouble with auctions is you can be bidding against people who already have an emotional attachment to the item. If two of those people are bidding against each other then you can sit back and enjoy the show as long as you yourself have stuck to when to get out that is.
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