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House Price Crash Forum

Lou G

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About Lou G

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  • Location
    Harrogate, North Yorkshire
  1. We are in Band F - nice £2k a year and our council have approved an increase of over 4%!!!
  2. Personally, I would buy!. Your repayment mortgage is going to be less than the rent so looks a cost effective option plus you have the joy of home ownership, i.e painting, decorating etc. We are doing the same thing!, we have been in rented for 3 years and are in the middle of purchasing a house, hope to complete mid March. Yes, the timing could probably have been better as we may be at the height of the market but the home we are buying has never been for sale before, the lady has lived there for 47 years! and we just love it! Nicest property we have seen in 3 years and we have viewed alot ! Going to lock into a 10 year fixed rate at 4.98% and just work to pay the mortgage off! Lou
  3. Interesting - my parents had a prime location georgian house in Harrogate that was valued at £320k and fell back to £240k - but could not sell it ! they paid £80k for it though! The eighties crash hit even Harrogate!!!
  4. Talking to an agent the other day - one local investor has 49 properties currently being repossessd! and this is in the Golden Triangle !!!! Lou
  5. In a development where my sister lives a house has just had the baliffs in and been repossessed. This is an exclusive development, the bank is selling it now slightly below market value.! Tjhe owners have done a runner to Spain !!! We were tempted but think we will wait!. The Estate agent told us one local investor has 49 properties currently being repossessed!. Then at a lunch do the other day, one chap we met who was also renting said his landlord was in trouble and was heading towards repossession!. Gosh, how things are changing!
  6. Just had a quick look at rightmove and am so depressed by all this. Again, property peaked here in 2004, spring 2005 prices tried to go up but fell back to 2004 levels. Now since the August rate cut prices are zooming up again and selling quickly!. We viewed a house last January that was on at £305k, now a similar house (without conservatory which the other one had) has just come on at £379k.!!! We are looking very silly in rented now and to be honest I feel very daft at taking the decision to sit this out!. Feeling very fed up, Lou
  7. My brother works in the mortgage department of a major lender. He told me yesterday they are relaxing their lending criteria even more! Very worrying !!!
  8. Think we need to move area! Prices up here ! Just seen a house that sold in 2004 for £420k go on at £545k and sell in 2 days !!!! Its getting worse here, all very depressing.
  9. My colleague at work has a 2 bed terrace in Methley. She tried to sell it summer 2004 for around £120k and could not sell and some similar propertys were starting to be reduced. Again, personally I think £142 is too much!
  10. Don't worry, you are not alone!. We live on a small development in rented. There is a house for sale that I would like. Is started off at £475k a year ago and is now reduced to £425k. The owners bought around 9 years ago for £127k!.. Kind of puts thing into perspective when wages have not changed that much.!!! Hopefully our patience will be rewarded one day !!! Lou
  11. HIP regulations published The government regulations for Home Information Packs and Certification Schemes can now be found online at http://www.homeinformationpacks.gov.uk under publications. Lou
  12. House near us has finally reduced in price again.! It has been for sale for over a year! and has now had £50k knocked of the asking price. I still think its overpriced.!!!!
  13. Have a friend who lives in a half a million pound house. Says he cannot afford the mortgage if rates go over 5%.! Think we may be shocked at just how maxed out people are .!!
  14. Spoke with a local agent today. She said all the mortgages they were doing were around the £200 to £300k mark. I think with limited stock on ( showing on that graph transactions are down), coupled with people maxing out on the interest only mortgages this is keeping the market going. All stems from the August rate cut. Now if interest rates go up this really could be messy and Harrogate could be hard hit.!!
  15. Because I monitor the market !!! Cannot be healthy, !! I notice the movement in asking prices quite closely. Asking prices are def up in Harrogate due to the demand at the moment. Also I check against net house prices alot and for example a 3 bed semi that came up for £350k and its under offer sold November 04 for £ 289k.! There are just some crazy asking prices. I think there is limited stock as most people now cannot afford to move and as limited stock its keeping the market pretty busy. I am surprised that all stock levels are shifting.! Prices are just so distorted from earnings now its all a bit of a joke.!! Lou
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