Statistician
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Posts posted by Statistician
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I'm looking at a new development (Trinity Village) in Bromley, but know absolutely FA about the area. From what I can google, the schools aren't bad at all and it's got good shopping in the centre, but would be interested in everyone's views on the area if they know it. I'm having a hard time persuading my missus that anywhere outside Ealing (which we can't afford) is worth living in, and she will inevitably ask me what the catch is. I though it might be transport, but my view has always been that I'll live where I want to rather than in somewhere I don't want to for a better commute. Besides which you never know what's going to happen with work (redundancy, relocation etc).
We moved to Bromley more than a year ago. We even had a look at the properties in Trinity Village - shoe boxes. It depends which part of Bromley you choose to live. Chislhurst, is a very nice area but expensive. But Petts Wood, parts of Orpington, Green st Green, and Chelsfield are very nice too. The schools are exceptionally good, most are rated Good and Outstanding by OFSTED. Transport link to central London is excellent - only 15 minutes from Orpington to London Bridge on Fast trains. But, the prices (as well as rents) are generally 10-20% cheaper than comparible properties/area in the other outer boroughs of London. I genuinely do not know why.
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It is the same problem and exactly the same massege with the RBS.
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Why???? I wonder what is happening? Perhaps we do not live in the real world.
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Good Luck with your decision.
Thank you.
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are ypou mathematically illiterate or something? why are you called statistician when yo8u cannot do basic financial maths?
Can you tell me where it was wrong?
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Wait, you acknowledge a bubble, notice prices are coming down and presumably have much further to fall (as its a bubble), yet rush to buy at -10%?
I appreciate your point. but see my reply above.
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They do that
.Yes, I appreciate your point. But at the same time I have to live somewhere. If I do not buy I have to rent. I have a repayment mortgage and make use of low interest rates. Imagine the prices go down another 10% (this is just an ASSUMPTION some might think it will go down more or less). I would lose around 25k. On the other hand if I rent I would have to pay almost 10k more on my rent compared with my interest payments for the same property. In this case, yes I will still lose around 10-15k given these ASSUMPTIONS, but instead my family will be in a better position than we are at the moment. Plus, I can afford it.
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Just to report on my house purchase. First just to clarify that I believe that house prices are still in bubble, but I could not wait any longer. I have been watching the market for almost a year mainly in zones 5 and 6 of the Greater London, inside M25. The areas I have been watching are known as middle class areas. Even in these areas I have seen great reductions in the last couple of months, sometimes up to 10%, in places like Bromley and Orpington which are mainly middle class. However, I have noticed that most of properties coming onto market in these area are those of the deceased or the one’s that want to downsize or move out of London.
So, I seriously looked around for a few weeks and finally found what I wanted. I needed a 3-4 bed property within a price range of 250 to 300 thousand pounds near good schools and within walking distance of a train station. I found a house which is in good condition (only required some decoration) near a school that is rated as outstanding in the OFSTED report (a have a 4 year old kid) and is within 5 minutes walking distance of a mainland train station. It provides the space I need for my little family. The house was advertised/prices the same as the peak time. But my final offer was 10% lower than the peak time, around 2005-2006 levels, which I could comfortably afford. All in all I am satisfied with my decision. I know that the prices are going to go down further. But because I found what I wanted and know that I can afford it even if the interest rates go back to their long term average, I could not wait any longer. Here was my story. Just to point out again, from my observation even prices in the nice areas of London, middle class areas out of central London, in zones 4, 5, and 6 are coming down.
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I was wondering how/where I can find a solicitor who can do conveyancing properly without being a waist of time and money. I appreciate any comments/suggestions.
Thanks guys.
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On one hand we have the land registry index of ACTUAL SALES has fallen 8 months in a row for many areas and on the other hand we have the Nationwide index of mortgage approvals increasing for the last 5 months.
Why the difference ?
The ACTUAL sales figures give me more confidence than some government back B.S. who has a vested interest in not seeing house prices collapse, am I just being silly.
Go here to Radio 4 Prog Moneybox on the UK Housing scam
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We've been looking for a 3 bedroom house for almost 6 months. We are FTB's with a 25% deposit and are keen to move ASAP. We are looking at spending about 210-220K. We have put 7 offers on over the last 6 months and all have been refused. The most recent was a 210K offer on a 222K priced house - we were told the vendors want 220K for it. We know we will only get a terraced house with our money in this area but we would at least like a nice one, preferably 3 bed end of terrace with a decent garden although we would settle for mid terraced. Our offers have been like this - 212 asking - 195 offer, 222 asking - 210 offer, 229 asking - 210 offer, 200-230 asking - 205 offer etc (all rejected). Are our offers really too low being FTB's and in the current market, or are people just digging their heels in and not dropping when they really should be? I guess I have kind of answered my question because these houses are selling, but I want to know if we should stick to our guns and wait or just accept defeat and offer more? I don't need to tell you how hard it is being a FTB and getting a deposit and still ending up with a box for a house so we are at least hoping to be in a better position being 2011 rather than 2008. Should we be offering more?
There are no hard and fast rules about this. Your approach is reasonable and common, but it does not mean that it works for every house/area/time. I, personally, take your approach, but do my homework/research before increasing my offer. I would suggest you to research recent sold prices of similar properties in the area. if you are rentling, calculate whether you would be better off buying or continuing the status co. If you are buying in a reletively good area, then the prices are more robust compared with the prices of properties in the less appealing areas.
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That price seems quite reasonable for inside the M25. I wonder how long the commute to the city would take?
It's 2 minutes walk to a (mainline) train station, Southeastern Train, where you can get to the centre of London, Canon Street, within 30-35 minutes.
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This house, a 2-bed Bungalow is on the market by two EAs, look at links below to the relevant rightmove ads, but the price suggested/advertised by the EAs are ridiculously different.
http://www.rightmove.co.uk/property-for-sale/property-34204124.html
and
http://www.rightmove.co.uk/property-for-sale/property-32908421.html?premiumA=true
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People that are asking too much may have no other choice, why are they selling, that is the first and most important question to ask....if they are not negotiating on the price maybe it is because they can't....in your head their house is not for sale, pick another house.
Back to wants v needs......three kids and two adults can quite easily live in a two double bed property, I know have done it and it does not do the kids any harm, location, neighbourhood and family contentment is far more important than a bedroom each and three bathrooms......huge debt, with stress with little disposable income does far more damage.....start small with smaller bills then trade up later.....smaller, character properties, with a garden in established nice areas, close to amenities that are cheaper to maintain, heat and run will always sell at a premium in the future.....less is more.
Very wise comment, I can not agree more with you. That is why I like this website
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The trouble is my house is on the market - I want to move away a.s.a.p., but it has been on the market for nearly 2 years.... I think unless you live in a detached, renting eg in a flat or in terraces does have the advantage that you can up sticks when you need to...
Think twice before taking the legal route as you plan to sell your house. Legally, you are obliged to provide true/correct information regarding your neighbours to any potential buyers if they ask for it. If you take the legal route, then you are unable to lie (that they are nice, quiet lovely people etc etc) since your compliant will be registered at your local council/police station.
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Probably the best solution is simply to move and go somewhere else. I know its a hassle but if every waking hour is ruined by noisy neighbours then cost and inconvenience pale into insignificance.
Good luck
This can be one of the solutions if you are a single, but if you have a family with young kids moving is a nightmare. And, it is even impractical in the current circumstances if you own the property.
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I am living in a terraced house with neighbours who blast me with rock music or music of some kind - I don't believe the house is licenced for live music - it sounds like there is an actual disco going on in the house right now. The landlady is not interested - she advised me to contact the police, probably knowing in advance that responsibility for the matter is not in the hands of the police any more,as it has been passed councils. The councils won't send anyone round to hear the music - it is a case of keeping notes over months of the times and impact of the noise to see if the council feel like doing anything. I feel like the authorities have, for a reason I can't determine, decided to create a chav society in England that is increasingly unpleasant. The council are not very interested in nuisance neighbours. The letting agents have sent a couple of letters, but have said the tenant won't listen to them and I should call the police (probably knowing the police are not responsible any more). How can people make money in this way? Their business requires the infliction of misery on me. Is there any way I can sue the letting agents to make them enforce the tenants' contract? The landlord previous told me that considerate behaviour to neighbours is in the contract - but that was back when he wanted the tenants out for an unrelated reason and was hoping I would furnish him with a reason for evicting them, but he is no longer interested. What can I do? Why do the authorities including all the political parties insist so firmly on policies leading to a chav Britain? Possibly because the powers that be don't live in roads such as mine? I am at my wit's end.
I have sympathy for you and completely understand how you feel. I/we live in a terrace house and had a similar problem with a neighbour (a tenant). He was a troublesome young man and played very loud music early morning and late at night. Unfortunately, my experience is that no one can help much to sort out this kind of behaviour if the individual involved does not want to cooperate.
The best way in my opinion is to somehow talk to the person - which I know that it is not always work easy. What I did with my neighbour was to very calmly explain that his loud music was very disturbing. Despite my initial warning/talk he continued his behaviour and whenever I saw him I again very calmy reminded him of our previous conversation/discussion about him playing loud music and reminded him again that it was still disturbing. I continued doing this for some time (a few weeks) and gradually realised that it was sinking in and getting into his thick head that his music was too loud. His music was still loud after all this talk, but it was not as disturbing as before.
You can follow the legal route with council and police - some of my friends who had similar problems with their neighbours have done that - but they were all counterproductive. In one case council removed all the equipment and issues the warning to the noisy neighbour, but the individual still continued with his disturbing and bad behaviour.
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that generation was the most venal loudmouthed mustique-holidaying ar.se-burp of a group of people while they were championing the equity-withdrawal craziness of the boom years
shoulda tried saving 10 years ago or buying a smaller house
fook'em
Well said, if you want to have any latest luxury (some might say essentials which I disagree) that is coming to market on debt, that's what you should expect. Buy the latest flat LCD TV, the bigger it is the better - never mind the price because it is on my CC, the biggest house, the most recent car, the latest Ipad, the Iphone, ....., all on credit. The list never ends. I know it is very tempting and hard to stay away, but sometimes having a little bit of wisdom prevents you of being in this situation/mess.
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Essentially credit money is a credit derivative. It is created in a spontaneous explosion that separates nothing into a credit and a debit, an asset and a liability. It is a thing of beauty, of wonder but ultimately of risk...credit means 'trust', that trust is based on the debit coming back and cancelling the credit, the asset with the liability. If that does not happen and that trust is broken, the laws of nature mean that the asset must be cancelled out with someone else's liability - the shareholder, the depositor, the bond holder....but in this case, the poor tax payer...who has to settle that newly wondrous creation, the public deficit that too has been generated from simply, nothing!
Thanks for this. Although I am not an expert, I am aware of this to some extent. I just wanted to point out something else which I did in another post above.
Thanks for providing this enlightenment anyway.
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which bit, the borrowing from the BoE or the cascade failure?
The last bit which I believe is completely wrong "...probably nets down to zero."
If that is the case why they pay something between 0-1% interest for savings, but they charge, on average, above 5% interest on mortgages, which is the least expensive debt, and up to 20% interest for other types of debt.
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0.5% is the base rate. Its not what banks borrow at....and if they do borrow, they pay a rate according to the collateral offered.
Banks normally borrow from the money markets....thats why the risk of cascade failure is so feared.....they all owe each other a packet...probably nets down to zero.
Can you expand on this please. Try to explain it in layman terms.
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Because you are a nobody. A member of the great unwashed. An expendable, dispensable asset and, occassionally, a liability.
Haven't you figured this out yet?
Now, stop complaining, go to back to work, buy useless sh*t, get into debt, do this for 40 or more years of your miserable, irrelevant little life and then quietly shuffle off to the grave.
Well said and completely true, but it requires some sort of wisdom to see it.
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Since when has it been acceptable to advertise for gazumping, whereby an offer has been accepted?
Part of property description advertised by the EA - see below link on rightmove:
"We are acting in the sale of the above property and have received an offer of £230,000. Any interested parties must submit any higher offers to Your Move Bexleyheath agent before an exchange of contracts takes place."
Russell Brand Talks Revolution With Jeremy Paxman
in Economics
Posted
the most intelligent and articulate depiction of where politics is today and why the system so desperately needs replacing
http://www.youtube.com/watch?v=c_IAI5THd-E