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oldman

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  1. We sold our house a few months ago and are in rented and are ready to buy . We will not need a mortgage so we believe we are in a very strong position as no chance of deal falling through. We are seeing a property for the second time today along with some other new properties just come on the market. What do you think is a reasonable starting offer so as not to put the backs up of the vendor - 10% off or more. The properties we are looking at are just below the 250K mark. I know it depends on vendors circumstances and how desperate they are, plus how long they have been on the market . For example one of them is on at 215K and we know it sold for 192K in late 2005. The other one we like has never sold and there are no similar properties nearby. We really cannot afford the full asking price but it seems at the moment things are selling quickly and we now at least one other party is interested in the property. Also we do not trust estate agents as can they say they have had an offer of say 240K when in fact there may have been no offer at all or in fact it was much lower say 220K - is this illegal to do ?
  2. We sold our house a few months ago and are in rented and are ready to buy . We will not need a mortgage so we believe we are in a very strong position as no chance of deal falling through. We are seeing a property for the second time today along with some other new properties just come on the market. What do you think is a reasonable starting offer so as not to put the backs up of the vendor - 10% off or more. The properties we are looking at are just below the 250K mark. I know it depends on vendors circumstances and how desperate they are, plus how long they have been on the market . For example one of them is on at 215K and we know it sold for 192K in late 2005. The other one we like has never sold and there are no similar properties nearby. We really cannot afford the full asking price but it seems at the moment things are selling quickly and we now at least one other party is interested in the property. Also we do not trust estate agents as can they say they have had an offer of say 240K when in fact there may have been no offer at all or in fact it was much lower say 220K - is this illegal to do ?
  3. We sold our house a few months ago and are in rented and are ready to buy . We will not need a mortgage so we believe we are in a very strong position as no chance of deal falling through. We are seeing a property for the second time today along with some other new properties just come on the market. What do you think is a reasonable starting offer so as not to put the backs up of the vendor - 10% off or more. The properties we are looking at are just below the 250K mark. I know it depends on vendors circumstances and how desperate they are, plus how long they have been on the market . For example one of them is on at 215K and we know it sold for 192K in late 2005. The other one we like has never sold and there are no similar properties nearby. We really cannot afford the full asking price but it seems at the moment things are selling quickly and we now at least one other party is interested in the property. Also we do not trust estate agents as can they say they have had an offer of say 240K when in fact there may have been no offer at all or in fact it was much lower say 220K - is this illegal to do ?
  4. I cannot believe the confusion between deficit and debt. Everyone I have explained it to just thought we are talking about halving the debt so in 4-5 years our debt will have halved rather than actually increased by approx 70% . I just do not see how we can get out of this mess apart from constant printing of money. The numbers involved are mind boggling and when I explain to people in real terms they still think house prices will go up !! These tiny savings of 6 billion here and there just seem insignificant given that interest payments on this debt will just increase far more than this over the coming years. I think the country is stuffed long term given that we produce very little and relied so much on the City for income . I feel like leaving the country as I recently sold my house and am now renting but the options are not good as not too good with the foreign languages .
  5. Thanks for that. The move is not just about cashing in but we want to move to an area that gives us the things we enjoy - walking/nature/countryside. Also our other younger daugther wants to do an animal management college course which is not available anywhere close to where we currently live. We are comtemplating moving about 40 miles away to cheaper areas so not only downsizing from 5 bed house but to a more affordable area
  6. Thanks so far from the comments. I do worry about that inflaitionary side of things. We already have a fair pot of money anyway and returns are so poor on savings in effect going down in value. As you say QE and printing money could just devalue the cash we have and things like fuel/food start to rocket in price. I suppose whichever way we go - downsize / stay put / rent then we can easily lose out as the real value of either cash or property will just go down. All we want is a simple life to pay the basic bills and do the simple things like walking - no materialistic stuff. However long term we need some money to survive on for the future given the shambles of pensions
  7. OK This is my first actual post but I have been reading these forums for many months. I am definetly in the bear camp and find it hard to believe how house prices have increased in the last 6 months in our area (Milton Keynes). All rises seem to be down to very limited supply and nothing to do with improving economic conditions - perhaps lots of cash rich buyers who cannot get returns on savings due to very low interest rates. My situation is that my daughter and husband live with us and want to move out even though then cannot afford any property - they need a large deposit from us to enable them to get anything at all. We are also looking to downsize our property now whilst the market seems artificially high pre election . We are mortgage free and want to cash in before I believe prices will drop over the coming years. However my daughter wants to buy and I have warned that why not rent for a while as prices long term I believe can only go down as I cannot see how the country is going to manage with our ever increasing mountain of debt. So the question is 1. Right time for me to downsize before the s%$t hits the fan. In fact not downsize at all but rent for a period and wait for prices to drop and then but again . However interest rates are so poor on easy access savings that the 200K we might not spend would not actually cover the rent on a property. 2. Daughter should rent even though the rent would be equivalent to the mortage they would take - we are having to provide 30% deposit. She sees it that does not cost them any more but I say what happens if another 20% comes off prices in the next few years then they would save a fortune To me it seems that basic common sense when you look at things mean house prices can only go one way but then the last 6 months seems to defy all logic - well actually last 7 years ! Here are my conclusions - I think the country is in dire trouble given that debt will be at least 1400 billion in the next few years. Plus lose out AAA rating so we end up paying more and more interest on this debt. To me it seems like a downward spiral and cannot see how we can ever reduce the debt . I fear for long term viability of our country - perhaps this is the fall of empire of the west and Far East becomes new world power. - They only talk about reducing the speed at which debt is growing - suppose to reduce to 90 billion a year in the next few years ! Where is the 90 billion saving coming from - small bits of 2-3 billion talked about. I can only see massive cuts and huge tax hikes affecting this - These cuts surely must mean large public sector job losses thuse meaning more benefits, less tax receipts so borrowing still does not really reduce. - What about beyond 2014 when we supposed to be at 1400 billion debt (I reckon could be a lot more) . We are still in deficit so to me keeps growing . Who is to ay cannot reach 2000 billion or more - House prices are crazy - still need 6 times income to afford anything half decent that is not in a horrid area. Makes no sense . I cannot see how young people in ordinary jobs (my daughter is a veterinary nurse) can ever truly afford property. Plus cannot see how they could ever have children as they will always require 2 full time wages to just about get by. - Interest rates surely must rise from 0.5% - how long can this be maintained for - economically what does this country do - very little production - lots of public sector and little true wealth creation. All apparent wealth of last 10 years was all dodgy credit and people remortgaging on virtual house prices. - What about all those people who bought second homes, holiday homes etc. e.g. Spain. Surely these people are suffering and long term this is a whole other can of worms to hit people . How are people affording theese 'holiday homes' . I assume large mortgages -
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