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House Price Crash Forum

Pent Up

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Everything posted by Pent Up

  1. Well looks we are going to be waiting again too. The vendor will only accept near the 160000 mark according to the EA so looks like we are out of this one anyway. Unless the vendor sees sense. Not seen anything else we are remotley interested in so back to the waiting game. Hopefully we will start to see a drop in prices again with the release of Feb figures.
  2. I Thanks. I have made it clear we have other options and are prepared to walk away and also that we are on a budget and are at our limit! I also think prices will have to fall at some point to get back in line with earnings. I couldnt say when though and dont know how long the shortage of supply will last. I dont want to keep waiting. We are in a good position to buy and have about 40% deposit so I'm not worried about negative equity, this house will be a home and not an investment we dont assume we will be making money on it. We really love the house and the area although we know we shouldnt fall in love with a house. Although not for everyone, this would be perfect for us and is cheap for the area its in. Compared to similar priced properties there is no comparison. Esepecially if we can get it for below 150. If we have to sell in 10 years time and prices are lower than today, then the house we are moving to will be lower too.
  3. We are currently offering on a house asking price 165000 we have had two offers rejected one of 145000 and one of 150000. If we get an offer accepted is it reasonable to ask it is removed from the market immediately? We are not able to pay the full asking price and obviously need it as low as possible. We are FTBers have a mortgage in principle and can exchange as soon they want assuming survey and searches are good. But we dont want to lose our fees if we get gazumped! It will take us ages to save them back up! Any thoughts would be appreciated..
  4. I agree maybe a small rise over thr next few months due to shortage or supply. Deluded sellers still think thier properties are worth the peak prices and and dont want to sell at the moment now they have fallen unless they have to. This wont last though and a couple of months of falls might bring back the fear and start the crash? despite what the media says there has not been a crash, a drop but certainly no crash.
  5. I use IG to trade crude and sometimes indicies. Ive been thinking about trading house prices although not right at the moment maybe take a short position later in the year. I'd be interested to hear anyones experiences trading house prices through IG. I know its based on the Halifax house price index but thats about all I know about it.
  6. I'd like to know how they managed to get that mortgage with such a low deposit?! 10K on a 150K property isnt even 10% I have a 55k deposit putting down on160k house. (hopefully lower I'm currently trying to beat them down!) Our incomes are take home £1600 per month and £750 per month. repayment 4 year fixed mortgage paying £560. We will be holding 10k savings for emergencies job losses/repairs etc. Plus adding to savings each month. I do believe houses prices will fall but couldnt say when or by how much. but who knows what could happen? I certainly think the time has past when you can buy a house and assume it will be worth more when we come to sell it. We are buying the house to live in and not make money on. I am personally a little aprehensive about the future of property but think I should be ok with a relatively small mortgage compared to many others! If I was them I would be shitting my pants!
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