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John The Pessimist

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Everything posted by John The Pessimist

  1. The cynical part of me wonders whether they're just trying to herd/stampede the highly leveraged into more expensive fixed rate mortgages. However this has got to hit HPI sentiment.... http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11762045/End-of-cheap-mortgage-boom-as-big-banks-raise-rates.html
  2. I stuck in an offer of 19% below current asking price this morning. EA was back on within the hour asking if it was a typo, and saying he could probably get the vendors to drop 2-3%. I explained that the house was priced 15% higher than anything that had sold in the village, ever. I also pointed out that on a per sq meter basis, my offer was generous compared with prices achieved in the area this year. I've heard nothing since. It's now time to 'embrace the silence'.
  3. Had a second viewing today. Emailed the EA expressing concerns about surface water drainage. EA responded telling me to 'put up or shut up' (not in those words exactly). No further viewings or cooperation without an offer.
  4. If they bail out Puerto Rico (which IIRC is a 'protectorate'), they'll have every bankrupt municipality queued up the next morning. They'll be allowed sink a la Detroit.
  5. I was in with a mortgage broker this morning. We've found a local 'bargain' (it's all relative I know). Married with 4 kids, she is at home with the little 'uns, so effectively 5 dependents on 1 earner. Decision In Principle waved straight thru' for 4.4 times salary from Nationwide. I've no intention of borrowing that much, and it may get more stringent if I go looking for the money. But they appear to be throwing money around like snuff at a wake!
  6. So these 'property professionals' running an on-line real estate portal claim not to recognise propertybee?
  7. Everybody thinks that 5 days of limited Euro withdrawals will drive the Greeks back into the arms of Frau Merkel. Apparently non-Greek debit/credit cards aren't limited to €60 per day. Could any of the IT wallahs indicate if that would require a bit of sophisticated (& lengthy) coding, or would they be able to knock it out in a handful of hours? They appeared to be able to implement it fairly promptly and without any reports of issues thus far. Was it something they had prepared in advance? It's not like the Greeks may have a plan, or may have gamed out various scenarios? Edit clarity
  8. Der Finanzminster says 'Nein!' Haven't seen this in the UK media. http://www.irishtimes.com/news/world/europe/schäuble-says-greece-default-euro-exit-looks-inevitable-1.2265610
  9. Thankfully this was posted after the viewing! ? HPC's 3 amigos (death, debt & divorce) were at play, and the desperation of Mrs Vendor (soon to be Ms Renter) was palpable. House & area are both good prospects for the next 20 years. I just need to figure out how low they will accept! Definitely pitching an offer lower than I originally planned.
  10. This is the spirit of 'enterprise' that put the great into 'Great Britain'. https://en.m.wikipedia.org/wiki/Tenement
  11. I'm doing a first viewing on a house this weekend. It has been listed since last October. They've already dropped the asking price by 15%, and I think with some negotiation, another 5% can come off. During the week, they have also listed the house with another EA. I've just had an e-mail from the EA that on Saturday it will be Mrs Vendor doing the showing. Obviously I'm not gong to go in and start slagging off the place (although the décor is a little 'Versaille'). But how should I play it with Mrs Vendor?
  12. There's a spooky figure all right, it's the asking price.....
  13. Count, your search thresholds vary between counties ranging from £180K to £535K. Is there any particular logic or science to this or is it random sampling?
  14. The problem is that the cost of the EA gets added to the houseprice. The vendor chooses the EA, the buyer foots the bill. Vendors will always go for the 'credible' EA with the swish office (Wiki Foxton's) that promises the big selling price. Why wouldn't they, when Joe HPC Buyer foots the bill.
  15. I'm speechless about this article. The HPI is strong in this one.... When s***e like this is being peddled by the MSM, sentiment is firmly against us. http://www.telegraph.co.uk/finance/personalfinance/fameandfortune/11683592/Toby-Young-I-made-250000-in-my-best-year-but-still-have-zero-savings.html
  16. The UK plays the Euromillions without being in the Euro Zone. The probability of a win is not a factor of how many tickets are bought.
  17. For the most part, Ops Directors aren't directors in the fiduciary sense (members of the board, signing off on accounts etc). They are usually 'functional experts' who are good at streamlining processes, managing supply chains and driving cost out of businesses. £100K, £120K tops. Clearing £70-90K after tax. Not necessarily great business brains (those that have usually go out on their own before they get to that level). After 'lifestyle inflation', I can understand why they're banking f*** all, esp if there's kids at the 'expensive' stage (horse riding, school trips). Based purely on my own experience as MD of a FMCG business.
  18. If ever there was evidence of widespread property related madness..... http://www.telegraph.co.uk/news/newstopics/howaboutthat/11683802/Brick-by-brick-couple-move-Georgian-manor-house-30-miles-away.html
  19. If they had done this a couple of years ago, they might not now be dependent on some rabid, swivel eyed loons for their majority. Still, if this is the start of, and indicative of a trend for this parliament, there might, just might, be hope.
  20. Defensive stocks (food & bluechip manufacturing) will fall in value, albeit less so than the rest of the index. I'm trying to maintain value so that I can buy in the event of a HPC. Likewise, most of my cash currently sits in EUR. I'm assuming that most effects of a Grexit are now priced in, so I'm happy to sit out for the moment. However, I'll have to convert to GBP when I decide to buy (and probably several months beforehand so it can sit in an account here and be 'visible'). That is my thinking!
  21. And now Grexit means Granny will have to eat catfood..... http://www.telegraph.co.uk/finance/personalfinance/investing/11679717/Savers-face-10pc-hit-to-shares-if-Greek-exits-euro.html
  22. True, GBP is risky, but it's also the medium in which I'm most likely to buy a house. Even if my defensive shares outperform the indices, in the event of an equity crash, they'll still only be the prettiest horse in the glue factory. My Euro are from STRing a house in Dublin. Prospects for the EUR are poor right now.....
  23. We appear to be having one of those periods where there's lots of chat about imminent HPC. http://www.housepricecrash.co.uk/forum/index.php?/forum/22-house-prices-and-the-economy/ What does the HPC hive mind plan to do with their various deposit funds etc to protect it during any forthcoming instability? Personally I'm weighing up moving significant amount of EUR into GBP. I'm also planning to off-load a portfolio of defensive shares. So I'm looking at going all in on GBP.
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