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lightning

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About lightning

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  1. Flicking thru the forum and thought I'd update the thread. We took the plunge and moved in start of April 2013. We bought off quality tailored homes in their maghaberry site. Couldn't be happier with the house, location and service we received from them. We were able to have a large input to the house along the way right down to room sizes, we got a garage and sun room included at a very resonanle cost, and all the houses comes well specced with brick drives, electric gates and a bit of thatch. Any small issues were addressed promptly and we would recommend these guys to anyone. Working hard now to pay the mortgage down before the rates go up!
  2. Doesn't sound like the tenants advert. Maybe it's about to be repo'd and he wants as much cash as he can get first.
  3. Agreed. Couple of examples of stuff getting good interest....this one went on at 205k, needs 30k spent on it minimum. strong interest and a good few bids, just been increased to 220k over the weekend. http://www.propertynews.com/Property/Upper-Ballinderry/PNC605890/1d-Ogales-Road-Upper-Ballinderry-BT28-2LL/ This one started out at £1m, now 225k for house and immediate garden. Again good interest, bidding at 213k. It will sell at this level. http://www.propertynews.com/Property/Glenavy/BMCBMC1970/11-Glen-Road-The-Cottage-Glenavy-BT29-4LT/ This is an example of sticky middle market...on for over a year with no reductions, interest or bids. After a view and a viewing and a -30% (rv -10) opening bid I got told to saunter on and not come back, they would not entertain offers much less than asking. http://www.propertynews.com/Property/Aghagallon-Aghalee/PNC563568/26a-Colane-Road-Aghagallon-Aghalee/ As you can see the houses that are creating interest are good houses that would have been at high levels, but at the minute these are not the norm. Most of middle market in my area is nice/standard bungalows/detached with a bit of a garden for 250k when in reality they are worth 150k in my opinion (2000sq feet @ £50/sq foot +30k fit out+20k site =£150k) The question is how long till the rare bargain becomes the norm and the market corrects itself? 1 year? unlikely. 3-5? more likely.
  4. I do think there's a good few buyers out there looking at the middle market....I'm looking in the moira/ballinderry area, been renting for 5 years and slowly moving back into the market again since the summer. couple of repo's have come on around 200k, all getting strong interest. I got in early with a 170k bid on one advertised at 200k, 3 weeks later it's now at 225k. Another was on for ages at 300k, no bites, was reduced to 200k and same thing...bidding war. private sales are the same....nice one came up beside my rental house for 225k, the night I viewed there were 4 other sets of viewers, I bid 200k but bidding is now at 213k and not finished. Just some examples from someone who is actively looking at the minute. Don't get me wrong I think prices will continue to decline but sometimes a bit of time on this forum and you come away thinking 10k cash will buy a 2000sq foot detached...don't kid yourself nothing is happening out there....it is. When attractive houses reach sensible levels there's no shortage of buyers who appear out of the woodwork. For me patience is the name of the game, along with not getting attached to a property, the right thing will come up at the right time.
  5. Cheers as always guys, unfortunately the people were in dispute with the planners when they handled the keys back to the bank so it's slightly more complex. Will see how it pans out!
  6. Hey guys bit of quick advice required...there's a house for sale near me which went sale agreed then came back on at a much lower price yesterday...it's a repo and when I rang the ea said it only had planning permission for a story and a half but as a full 2 story therefore no mortgage was available for the property. If I was to go in with a very low cash offer would this be a difficult thing to sort? What are the chances of building control enforcing? Would indemnity insurance cover this? House is about 10 years old I think and is up a private lane. Cheers as always!
  7. I viewed a house with tr, took a half day from work to discover serious damp coming up the kitchen walls. They didn't come with me, I was shown around by the tennant, who under questioning revealed it floods maybe once every couple of years with big rain. There's absolutely no way they didn't know the serious issues with the house but still let me take a half day from work without mentioning it!
  8. Agreed....I'm looking middle market at the minute as a first time buyer who's been renting thru the crash. 20%-30% deposit and aip. I'm targeting houses ~250k at the minute, first thing I say to the estate agent is if they're not prepared to listen to offers ~200k then it's wasting both our time. Had a couple of people agree to viewings who've then rang 1 or 2 days before to say they're house was being removed from the market....reality must have hit so according to the estate agent they're going to relist in 12-24 months when things "come back" a bit. Can get a bit frustrating but to be honest I'm quite enjoying the whole process. Key things seem to be don't get attached to a property, don't have a time scale and don't fully trust ea's word. Had one last week, viewed 18 months ago, was up for 225, made an offer of 190, refused. Reduced bit by bit to 190, ea rang me last week said there's an offer of 165 if I went 170 I'd have it. Was on the fence so I left it only to see it on property news thismorning for 162.5k. Ok the buyer could have pulled out but like I said....don't take everything at face value.
  9. No I'm very much talking about the general public. Every other customer I talk to says worse to come with one particular one from fermanagh yesterday saying how the steady decline won't be so steady next year. Sentiment is almost the opposite as it was 5-7 years ago. The optimists say it's bottomed out, even they don't predict a rise. In saying that we're in the tool/garden equipment wholesale business and we've never been busier. Farmers are doing very well as are mechanics etc so there will always be people to support the bottom of the housing market. I don't think there's any way of predicting how things are going to pan out next year.
  10. Cheers for the advice....Want to stick around the moira/ballinderry area as it's half way between our parents and 10 mins from both our work's. With regards to quality/soundproofing etc by sticking to a well regarded builder such as henry price/quality taylored homes/bill porter etc there won't be any problem....I've seen a lot of their work first hand and it's very good. The thing that hold's me back are a lot of people telling me property prices are going to drop off a cliff next year....worked too hard to save up a good deposit to throw it away and get trapped. I guess all life's a risk tho.
  11. So another year is heading out and where does that leave us? I'm from the moira area, married 2 years ago, been renting for 6+ years now since finishing uni in the same house, pretty settled but have a decent deposit built up and could be tempted soon..... New builds in my area seem to be about the 160-180k mark for nice 5 bed detached with garage and 120k ish for semi's, all well kitted out. Do people reckon it's starting to become sensible or is there another 25% to come over the next couple of years? This forum has saved me from myself a few years back, much appreciated. Cheers
  12. How long is a piece of string I know.... Basically a mid size 3 bed house has come up for sale near to me in the ballinderry area, out on it's own up a bit of lane, lovely garden, very large garage (3car) with a upstairs conversion to games room, decent kitchen, sunroom etc. The bank only had it up for 3 weeks and said all offers had to be in by close of business today (10th) with proof of funds, unfortunately there were 8 interested partys, 4 of which came up with proof of funds also, which pushed the price up to almost 160k but it's still well down from the 280k it was up for and it's a great site/area we like and it looks like we're the highest offer so far. Couple of questions....how much (very ball park) would I need to set aside to sort out painting the house outside and in, re-stocking the kitchen with oven/hob etc, new carpets, new bathroom downstairs (inc tiles etc) and new shower/toilet upstairs, new boiler and oil tank (they left the rads and plumbing), sort out the overgrown lawn etc. I had a rough figure of 15k in my head....is this realistic? Will the bank be ok lending money on a house with no boiler etc? There is a couple of property guys I know who specialise in turning around this kind of job in 2 weeks....would it be wise to get a quote and let them tear away or do it all ourselves. with separate contractors? Sorry for all the newbie style questions....been on the market for a while, got married august a year ago but stayed in our rental property (now kitted out with all new furniture thanks to peoples generosity) while continuing to look and this one is the first one in a long time that feels right and is under budget. Cheers Lightning
  13. maybe but ac/dc makes the best kind of noise known.....
  14. There's 2 sides to why things got so bad. if I have a bottle of water and some guy is willing to pay me 4 times it's worth just because buying fever is on and everyone he knows is doing the same, should I take it knowing he's going to be over his head in debt? in the real world...yes. morally...no. If the developer doesn't get paid because the bank wont lend someone the over inflated price he charged in the first place, then it's not as clear cut as saying the buyer must take full responsibility for his actions. ps...good link...back in black is one of my all time favorite albums.
  15. depends how you define problem....hairline showing early signs of recession? then I may..... with regards to ormeau, not suprised by the ruling, on one hand it's positive people are made follow through with their word. on the other hand the prices were crazy and the developers have got away with taking advantage of people, even if some of those people were being greedy themselves.
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