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House Price Crash Forum

Pent Up

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Everything posted by Pent Up

  1. Is this a new year prediction thread? Have we had one yet?
  2. Yes remember him? He bought a house then went a bit weird.
  3. Jesus what investments were giving you 10.3% YTD?? Bear in mind I'm extremely risk averse. I was earning around 3.3% roughly 50% taxable.
  4. Cheers. No problem shouldn't be too long now!
  5. That 15% is absolute madness! The land reg yoy is 2.4%. Even if you ask local agents they will laugh at those figures as they are ridiculous!!
  6. No your right not lucky. A certain amount of sense helped. The problem is I'm 30 in a few days time. The parents are started to hint at me leaving home now and I don't blame them. So I have two choices. Buy or rent. If I rent I will only be pushing up rental demand. To rent a place I'm buying I'd probably be looking at £1150 min. so the sensible choice is buy and ride out the falls with 50% equity (before we even start capital payments) and upsize (if we want too) once prices have fallen further. Buying is cheaper than renting IF you have a massive deposit.
  7. Yes in nominal terms. I'm talking 5 to 10 years for it to happen. Maybe suddenly if we are lucky though.
  8. Cheers everyone! Don't worry, I'm still a full on bear! I'll still be on here when I can. One good thing about buying a house I'm much more open about my bearish sentiments to friends now as I don't feel like I'm just being selfish trying to push my own interests. (which is how it may seem sometimes)
  9. I think in today's market I was very lucky to get that sort of price. But I do still think in the grand scheme of things it is overvalued and I wouldn't be surprised if we sell for 20% or 30% less in a 10 years time. That would be great for us as the next house would cost us less.
  10. I hope so, although I wouldn't call it a bargain it's still a massive amount of money!!
  11. Yes I made sure I checked before even making the offer. Listed building consent has been granted. We have confirmation now of that and building regs through the solicitors just before Christmas.
  12. I have no idea how this number has been arrived out. It's obviously some serious stattistical anomaly. Go into any estate agents in southend and they will laugh with you at these figures! It just hasn't happened 15% is a big increase, I've noticed no difference in selling or asking prices since last year and even local agents can't bring themselves to agree with such a ridiculous number! The land registry figures for southend for October give a 2.4% increase. So November and December must have been massive months for rises!! http://www.landregistry.gov.uk/public/house-prices-and-sales/search-the-index
  13. I've not been as active here for some months now due to change of role at work meaning that I can no longer spend half the day browsing HPC on my phone! In the meantime I've also been offering on the odd house. Usually get the standard abuse about my low offers from estate agents. Although a couple have been a bit more understanding. I saw a nice grade II listed cottage (well actually mrs pent up saw it, I'd dismissed it as too high asking price) it had just been totally renovated for sale after the previous owner died. we went for a viewing and it was pretty perfect. Had a good chat to the agent who seemed quite nice (strange I know!) asking price was £245k which was reduced to £235k about a week before we viewed. We went in with the obligatory low offer of £197,500, I gave my usual pitch the agents, ftbs, 50%+ deposit, solicitors waiting our instruction etc. waited for the usual scoffing and belittling comments but they never came! He just said ok and asked if I was including fitted appliances in that price. It was rejected obviously but the agent came back with if we could make £210k or £215k we may get a deal. I said our max was £206k which he put forward as our final offer. I was expecting the usual rejection phone call but to my shock it was accepted! The attached house next door original house identical size but with a slightly smaller extension and not refurbished sold for £206k in 2005. So I think we got around early 05 maybe even late 04 price for the house, which is very good for Essex! Obviously now I'm changing my status to bull and going over to mse to joint Hamish and his band of btl nutters... Seriously though. It doesn't change anything. A 50% fall over the next 5/10 years would be great! Just in time for us to upsize. If not we will just stay were we are. Mortgage should be paid by then after overpayments. I should say a big thanks to everyone here as its this website thats enabled me to keep focused and do what I've done. People are shocked when I tell them that we are buying with a 50% deposit and still have over £10k sitting in the bank for contingency. Our mortgage payments are under £500 per month. A friend of the wife is paying £950 for a similar sized house in a worse area.
  14. I'm buying a house because it's time to leave my parents house as will be 30 soon and they've started hinted at me moving out! Ive been making offers for about year now on various properties I thought I could get reasonable value on. Saw a refurbished cottage viewed it and seemed pretty perfect for us. It's was on for £245k then reduced to £235k. House next door sold for £206k in 2005 it's slightly smaller and wasn't in as good condition. Ours has new kitchen, bathroom comes with integrated appliances too! Anyway we went with the standard kick in the ******** offer of £197,500 which was rejected so upped it to £206k stating a house that sold down the road for this in 2010 (which wasnt a good comparison as it was much smaller with no garage or much garden) and it was accepted. I almost couldn't believe it!! So I finally got a half decent price for a house I'm happy with. Anyway back to the Christmas conversation bit. Was chatting to a friend of the inlaws about the house we are buying and she was saying about how quick you have to be incase they get snapped up! And that you have to buy as quick as possible before prices rise. I'm not sure if she was just living in a false 2007 dreamworld or just hasnt kept up with the global financial collapse. She was bit shocked when I told her that we have been holding off as long as possible watching prices gradually fall as our deposit rises. I told her how it will be good once prices have fallen more over the next 5 years or so and we look to buy somewhere bigger once they have. I had to explain how this worked. She was very quite for the rest of the evening. Same party and another friend of the in laws who I know relatively well. Never spoke about economics until the house buying discussion came up. He could have been one of us. Talking about coming global financial collapse and how the worst is still to come even used some HPC sayings, kicking the can down the road etc. And also very random and strange conversation I had in sainsburys in Westfield shopping centres at month. Popped in for some crisps on the way to twickenham and a old man asked me to get him some Pringles from the bottom shelf, he asked how much, they were £2.19 I think. He moaned about it saying he thought they were £1.50 last time he bought some. I said quite loudly that I blamed mervyn king and his low interest rates, an another lady hearing me butted in very angrily saying how that "that man has destroyed this country" with his crazy policy and lack of economic understanding! He should never had dropped rated so much inflation is out of control and the states figured are lies! I was speechless! Especially as she seemed quite poor lower class and not the sort you'd expect to have an understanding of such matters.
  15. I went to the lakeside store to day hopeful of much cheapness to be had. They had big hand scribbled notes all over the windows and doors saying NO SALE NO DISCOUNTS. and another note saying NO RETURNS and a number to call if you were trying to return something. The shop was pretty empty I doubt many people will be buying expensive stuff at full price when you can't return it if there is a fault. Maybe in a few days they will start selling off stock.
  16. That five year fix is a waste of time with a £2000 fee! Unless you are borrowing a massive amount you are better off getting a low fee higher rate. Can't remember the exact figures but If you borrow £100k then you would be better off with no fee 3.5% than the 2.99% with the large fee.
  17. I often go to open days. I always say the house is overpriced when giving feedback. Been to a few where I was the only one there and one where there was about five other parties even so. The house never sold and is stil on the market a year later.
  18. Are prospective buyers not normally allowed in?
  19. I hate it when a beautiful fireplace like that is ruined. It should be illegal. I bet that was a wonder feature before they got hold of it!
  20. I read somewhere that this isn't that uncommon in the US. You can go and stay for a few says to see how you like it. Sounds a bit weird if you ask me...
  21. I'm interested. I have a two bed terrace in Basildon. I want £500,000 for it. When do we start filming?
  22. There was a thread on that a couple of years ago. A few people were doing it. Not sure how they got on. It tracks Halifax.
  23. I voted as with a bit more of a price fall and a half decent offer I could buy for cash. Not quite there yet though.
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