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House Price Crash Forum


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About chewy75

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    HPC Poster
  1. Commuters buying from London? Prices there are also rising and we're only an hour away?
  2. Not sure I get your point? You'd rather he lived in a small flat with 2 kids than living in a good sized house and borrowing more money, because; you don't wan't him to get more in debt you're 100% house prices are going to come down enough to make it worthwhile waiting or because you don't want to accept that buying a house at todays prices is valid thing to do? and this undermines your view that house prices must come down I couldn't agree more that house prices are too high, believe me I wish they weren't as am going to be buying a 200K house and we earn about 40K between us, but the trends seem to suggest in the short term prices may be leveling off, at least for the very best property that's available - and there's not much about where I live. Maybe your friend has factored in that his new house may loose him money but want's to make the move anyway and will treat it as his home for life rather than an investment. Anyhow sounds like unless he gets a 'gift' from parents he's going to be staying where he is, perhaps you should buy him a beer and remind him how lucky he is to have a good friend like you.
  3. As an update to this we're about to sign contracts on our sale and have made some low offers on houses, hoping to find a seller who wants a quick sale like we did, we've not found one get so are moving into rented accommodation, To be honest if I wasn't desperate to move I think we'd have been better off staying in our house and changing our mortgage to an interest only and saving up for a bigger deposit on our next house. Fingers crossed it works out but given that there's every chance we may loose on our next house (at least in the short term) We're going to make damn sure it's somewhere we're going to be happy to live for at least the next 10 years.
  4. After reading this post I think there's every chance that very low Interest rates and higher reported rents, plus the lack of any 'real' house price crash in a recession may be the push for (HPC) buyers into the market. My guess is that in the spring there's going to be a lot of p****d off HPC'ers entering the market. Don't get me wrong I want a HPC - it's the right thing for all of us but the reality seems be less of a crash and more of a bump.
  5. It looks like our sale is going through and will complete first week of December, We've made an offer of £177K on a village property on for 'offers in excess of £200K' but the sellers are looking for somewhere in the 190's so looks like we'll be renting for a while. Fingers crossed the prices will come down and we'll get the house we really want. Been over rightmove tons of times and can't find anything that floats my boat in our price range. If anyone spots any nice 'character' places to rent under £725pcm let me know, villages would be best but could do town. Thanks. Rich.
  6. Good points Count, I guess there's no perfect formula as there's tons of variables like schools and of course personal preference counts for a lot. and agree Abington Vale looks like much better value than Church Way, (oddly I like the older 30 / 40's style properties rather than 50's / 60's style,) Doubt I'll be sending my kids to public school though, not unless we win the lottery, and even then I think I'd rather they went to a decent local school. Odd that Roade has gone downhill it used to be a great school, are the villages putting out dullards or something? I would have thought they have a great catchment area?
  7. Hi Count, I don't know the properties in Abington Vale very well, but found this one on zoopla: http://www.zoopla.co.uk/for-sale/details/1885344?search_identifier=d378a5cba604b911fbe463ce609460a3 (nice 3 bed in Abington Vale for 188K) When you compare the two, the one on Church Way looks way over priced, especially as it needs modernising however, Church Way / Weston Favell Village is a more desirable area, (even though they're both near Abington Park.) The problem I have is working out how much more different locations should be worth if the houses are similar? For example a double bay fronted house with garage on Broadmead Ave could be on for 135K, where as the same property in Hardingstone would be on for say 220K, and in Abington for 190K. (none of them are actually worth these figures but obviously their prices are different due to the land value) Does anyone know if there's a way of working out the value of the land in different areas of the town? Then working out the residual value of the buildings on it. Eg. Weston Favell Village / Church Way land is worth say £100 per sq ft. x 1500 = 150K + the value of building = 100K, so the total is 250K, Whereas Broadmead Ave land is worth say £50 per sq ft x 1500 = 75K + building @ 75K = 150K. The problem I have is that the figure EA's come to doesn't seem to have any basis other than p***ing in the wind, - and when asked what price similar properties have SOLD for recently I've been told 'it's not our policy to give that information' I guess there could be an argument that this is to stop Gazumping, but as this info is on land registry 6 months later, i think it's just to stop people knowing the 'real' value of property, and to let them carry on spouting BS.
  8. Second the best of luck with your new homes, I don't blame you buying now, yes it may come down in a few years but as you end up paying double what you borrow with the interest in the long term I'm sure it doesn't make much difference, lifes too short... enjoy your new homes. Look on the bright side, at least you didn't buy in 2007 at the top of the market. Merry Christmas.
  9. Yeah I like it, but it definitely wants some work. I'd view it if it was on for 175K and would be happy to pay about £160, But oddly Weston Favell village is one of those premium areas where prices are bonkers. (Like Duston village and Hardingstone) Still I wouldn't mind being 5 mins from Abington Park with off road parking. Also I guess it's priced for the 'potential' to develop into a much bigger property... which is bugger all use to me as I wouldn't have the money to do it.
  10. Hi, we were in a similar boat having considered renting out and buying another property but by the time we'd factored in LA fees, tax, upkeep of the property and dead time between tennants it just seemed too much work and hassle, Instead we put the house on the market at a low price and a few weeks later we have a sale going through. (after first viewing) we've been viewing properties but nothing has caught our eye, so we are going to rent for about 6 months to put us in an ideal buying position, when / if we find a house we like we'll be negotiating hard to get the property for the right price. Like you I don't want to deal with LL's or LA's but hopefully should be worthwhile. Best of luck.
  11. Really? I could imagine 250K houses coming down 40K, but what's the chance of getting a half decent semi down from 144K to less than 100K? I was thinking of offering 120K plus a couple of grand for furnishings then negotiate from there - using LR as a basis for my offer. If I offer 100K and others have sold for more on the same road on LR isn't there a change i'll not be taken seriously by either the EA or seller, or am i just not being cheeky enough? The misses has seen about 10 properties on in Abington for between 150 - 165K and they're all much of a muchness so could just make low offers on all and see if someone bites. Has anyone got this much off a property at this price point?
  12. Also wondering if when making the offers should I back them up with prices from land registry, or leave would this make me sound like a bit of a prat / know it all? Ta.
  13. Hi advice needed, I've seen two houses I like the look of (finally) One is one for £144.950 - it's a bay fronted house nr Kettering Rd, (for sale due to family bereavement,) quite tidy but wants a bit of decorating and modernising, but in general good condition and has a garage. The other is on for £135,000 in St. James and also 3 bed with double garage but has downstairs bathroom, Both are currently empty, our sale is going through at the moment (have just had survey done), so could make offers but may be best to wait until we have a completion date. Both are on with the same local agent, (O'RB) am thinking of making some low offers, with an option to negotiate on fixtures and fittings written in (to be paid in cash,) any thoughts about how best to go about doing this? Was thinking email may be good as there is a dated reference of it and can ask for written confirmation of the offer via email receipt (all nice and quick) Any thoughts?
  14. Thanks, good to hear putting a lower offer in isn't going to do any harm, that's quite a difference, in price.
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