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House Price Crash Forum


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Posts posted by Guinness

  1. The banks have to write off 50% of greek debt.

    Was this debt not financed with the bailout money that was created by those in power ? Which banks are they actually talking about and also who are the private investors who are taking losses ?

    All these leaders seem so smug but surely throwing more money at a debt problem only prolongs the misery, they say that if they re-capitalise the banks then this will help growth. So the banks lose 50% of one deal and then get more money which they are suppose to lend to businesses at x %, why would they if they have just been shafted ?

    Essentially, they have given in to greece's demands and reduced their debt which will probably never be paid anyway. Irish people should lynch their so called politicians who have sold them out lock,stock and barrel. However if they march n mass, start a few fires and threaten to default then surely they are looking at 50% reductions on their debt.

  2. I would say set a price at what you think it's really worth and offer 10-15% below that.

    As you have already made an offer then increase it by 5k and say you are close to your limit. Don't tell the sales person, sorry EA what your limit is though.

    It's no harm asking what price the sellers are hoping to fetch but from experience this will be totally inflated.

    It is important to remember that house prices are only going to go down so factor that into your decision and good luck.

  3. So, we submitted an official offer a couple of weeks ago at 30% less than the circa £200K asking price and were soundly rejected.

    We went in low to see if it got any bite and got nothing in return. Vendor and EA probably feel insulted and have not come back with any idea of whether they will negotiate.

    We really like the house, my wife especially is very keen on it. It is immaculate inside and out and is just what we are looking for. But having only recently started looking around for another home I am being cautious and prefer to wait and asee what comes up in and around the area.

    Against my cautiousness there is the wee problem of there not being that not many properties come up for sale in the area we are looking at, and at the price point we can afford.

    I'm not sure what negotiating tactic to use next. We really don't want to go above the 20% of asking price.

    Go up in incrrements of £5K or £10K and see if it stirs anything?

    Or offer 20% of the asking price with a suggestion to the EA that if it is rejected to give us some idea of where they can move to. In this way we can then decide to put it out of our mind if they are not prepared to drop to a price that we can agree to.

    Or do we just bide out time and see what comes up and not push it. It is a delicate balance between showing an interest and not being too keen otherwise it might stop the vendor from dropping their asking price.

    Any advice would be welcome.

  4. You fed his delusion by viewing the house. Why not phone up and say "I would be interested in viewing it if the vendor would accept £x". If the answer is they wouldn't accept then don't view it.

    "I hardly fed his delusion by going to view the house, ffs i'd never met the numpty before.

    Why the hell would i make an offer or show my hand without viewing the property anyway ? I guess you only replied to highlight your own situation and give yourself a big pat on the back, well whoopie doo for you, aren't you a clever cloggs.

  5. I viewed a house yesterday in Glasgow which was listed as o/o 270K. Nice solid house but it needs total refurbishment as the decor is caught in a 70's timewarp and theres also one minor missing detail NO KITCHEN :)

    The owner showed us around which was all fine and dandy and then we got to talking at the end when i mentioned that the near exact same house (with one extra bedroom) 3 doors away had sold for 242k a few months in March of this year. However the owner then continues to tell me that he would not sell at the price the one 3 doors away sold for as the lady needed a quick sale and the the price did not reflect the true value. He also said that she had been offered a higher value but had turned it down only then to have to accept a lower one lol . He also through in the usual "i dont need to sell" line as i dont have a mortgage etc along with some story of selling it to his son but he didnt trut him to look after the garden :lol:

    Anyway i guess the point is that most of these sellers are still totally delusional. I now want prices to fall more than ever so as greedy fools like this get it rammed up them :)

  6. How much is it worth now based on price % increase/decrease since the date above ?

    The area is Rutherglen, Glasgow.

    The house in question has been upgraded/updated but i can work out how much has been spent once i view the property.

    I'm just interested in the house price assuming nothing has been done in current market.

    Thank you.

  7. Aw poor stewart.

    "Stewart Milne, owner and executive chairman of the firm, said lenders appeared to be applying unreasonable criteria when reaching lending decisions. “Experienced people that we would normally expect to get mortgages without any problem, for unbelievable reasons, are being turned down,” he told The Herald"

    What a pwick "unreasonable criteria" like been actually able to pay back the mortgage if and when things get worse.Oh and experienced people should get mortgages, wtf does this mean ? experienced in what, lying about how much they earn. Do me a favour..

  8. I've been a FTB looking quite extensively for a long time now at new developements in Belfast and Lisburn. I've even gone so far as to plotting the price drops in some major Belfast and Lisburn new developments over the last six months (a bit sad I know! :P )

    I've noticed large price drops (25K or sometimes more) in the 250K+ 4 bed detached but not so much in the more FTB friendly sub-230K 3 bed semi.

    Even so, all the prices are advertised as "Fixed Price", even when speaking to the EA's they say sorry "Fixed Prices". I spoke to the developers directly and they said I could only deal with the estate agents not them directly.

    Do the EA/developers not realise the state of the market? are they ignoring all the signs?

    My question then is, how "Fixed" is "Fixed Price"?, surely I am now in the position as a FTB not in a chain to make the most of this and go in with a lower offer to this fixed price. Seriously how much longer are the EA/developers going to hold out?!

    Fixed price means they know the market is totally banjoed so have no chance of getting an offer over whatever figure they pluck from the air.

    Dont even listen to the estate agent when talking to him/her, treat them as sales people which is what are essentially. Once you have done your research and are happy with a figure you think is correct then offer few % below that figure and leave yourself some room for negotiation.

    Just remember the balls in your court so dont be pressured into making an offer by the crap the EA will try feed you. New builds will also lose their value quicker than older type houses due to the way their constructed.

    good luck anyway.

  9. Bears no resemblance to my local market conditions (prosperous SE--East Sussex--Brighton area). I posted several examples from Zoopla yesterday where houses in my range are dropping 10-12% since November.

    The tiny fractional drops of 0.1% are to placate the market IMO. They can't say prices are going UP because no one would believe them so they agree that they are dropping, but not enough to panic.

    Does your reasoning apply to the Northern Ireland and Scotland were prices dropped or is is selective ?

  10. "Interesting stuff in the Scotsman today. Again - a failure to even note that prices being high is the main issue above and beyind everything else."

    Very true but people seem able and willing to pay huge prices for flats and houses. Those with mortgages seem happy to pay most of their income on having a place to live. How long can it go on though ? Go out shopping ,eating or drinking and everything is so incredibly expensive. Get a take away meal or eat in and its the same story. Interest rate rises are the only thing which will bring house prices back to some sensible level,

  11. Property in edinburgh is definetely overpriced but its hard to see were a crash will come from.

    Having been to Ireland and dublin in particular its obvious how things collapsed there. The number of properties been built could never be justified for such a small country.

    They were building block upon block of flats on parts of the canal which would cover leith walk a few times and it not very nice areas.

    Theres no place in edinburgh were the same thing is happening, i think the best we can hope for is a slow downward trend, maybe another 5-10% max off current prices.

  12. @Laurag,

    the owners are friends of my parents, they've moved out. I think they were toying with renting it out, so possible it's rented and my mum's got the wrong end of the stick, but mum said they'd sold it. "Some guy on the internet's mum told him" probably the weakest information ever right enough! I also wondered re: the for sale/sold sign, but they were quite a low-key and considerate couple, so once it was sold they probably took the sign down right away rather than give more free advertising to an estate agent and spoil the look of the street (honestly, they were lovely).


    re: the surrounding areas, Laurag is right I guess, Burnside as a whole is surrounded by not-so-nice. Grew up in Burnside for 22 years, and though it's not quite as nice as it thinks it is, it's not a bad area. Blairbeth Road is indeed considered quite busy for the area though. Drumsargard Road is round the corner from some rough shops, and bits of Cambuslang at the end of dukes road aren't the nicest. It's the same pretty much anywhere in any city - pockets of nice areas, and ajoining areas you wouldn't want to get lost in even in daytime.

    Thanks for the replies - Pollokshields property's look nice too. I asked a guy i work with what that area was like and he said it has a large "asian" community although not exactly in that way. Is this the case ?

  13. Hi all,

    My sister rents from DJ Alex who have totally messed her about since she moved into rented flat.

    She just wants to move out of the flat at this stage as there's a number of problems which they will not address (filty carpets, smell of damp etc)

    Anyway my question is how can she get out of the rental agreement and legally what can she do if they dont agree to let her move on without losing deposit ?

    thank you

  14. It is a nice property, but Blairbeth road isn't a quiet area, it's quite busy traffic-wise, and it's also very close to both Castlemilk, Fernhill and the Spittal, all three areas of deprivation, right up the road.

    Thanks for the reply laurag - i wasn't aware of the areas that surrounded this property which would be a major turn off.

    The main road outside was the main reason i was not interested at the time, it was too busy and noisy .

    What nicer areas would you recommend over this side of Glasgow ?

    One property i am interested in viewing is on Cathcart road although again i am not familiar with this area.

    thanks again.

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