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teddyboy

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Everything posted by teddyboy

  1. Could he be lying? Its not in his interest to say the market is shyte is it? just a suggestion TB
  2. As far as the nicked car goes. Call me callous, but I get very pissed off when I hear of a stolen car hitting an innocent bystander or driver and killing them. Yet the thugs in the stolen car are OK. Whilst it is regrettable that 5 young kids have died, I just wonder how long it would have been before THEY killed someone? When I bought my last car - Renault Clio. I insisted on 0% Finance or NO DEAL. The car was 4 months old and still registered to the garage. Employees car. Had 6000 miles on the clock and I got £1200 off NEW price. I bought 'nearly new' as I need reliability as I work some distance away. Best Decision I made - bought many new as I was one of those naive people who just looked at the monthly repayments and not the whole picture. My TV though I went out one day for a shirt and bought a SONY WEGA 32" WIDESCREEN for £1300 (this was about 4-5 years ago). I then bought an AMP, SATELLITES, WOOFER, CENTRE and MAIN SPEAKERS (Wharfdale, Eltax, Panasonic) and spent £900 with £80 wiring. In total about £2,200. I have to day, through luck rather than judgement, It was the best purchase I ever made. The telly still has a SUPERB picture and the AMP is AWESOME. I have my XBOX, DVD RECORDER, SKY all going into the AMP because it also accepts VIDEO input as well as AUDIO. Takes optical too, so my XBOX games are in 5.1 surround (Project Gotham Racing is awesome). That equates to about £400 a year to date. It is all in as good a working order today as it was when I bought it. I do intend buying a 37" LCD when I get my house. The amp will stay and I will trade in (Richer Sounds) the speakers for smaller/designer speakers. Expect to pay about the same all-in £2200. This is my VICE. I dont buy expensive clothes or anything "show-offy". I couldnt give a "flying f*ck" what people say about me. I am true to myself. A fine example of this was a colleague I worked with bought original Kalvin Klein Boxer Shorts and paid £40 for them!! I made it quite clear that if a girl got him down to his undies she wanted to see his c*ck, not his undies! To which he responded "Nah, I reckon the "bird" would mention the boxy's" The point being - you still get skiddies on KK boxies. These were bought as a peni$-extention and not because the M&S Boxies were of a lesser quality. APOM £400 on shoes - each to their own - I have bought GFX cards for £250 but that was LEADING EDGE TECHNOLOGY at the time. A decent GFX card today is about £100 so it was 2.5 times the price. I dont know what everyone else thinks, but I regard a good pair of shoes between £40-80? That makes your purchase 5-10 times the price. I could personally not justify it. As I have got older I have resented RIP-OFF BRITAIN! I could pay £50K for something and not flinch but if someone sold me a "25p mix of sweets" for 30p I would see my **** big style! I hate being ripped off. So I dont allow it! So how much do you want for that house......? TB
  3. If you aint got houses for below £150K it means people cannot afford the minimum house at over £150K . Drop the F**KING PRICES YOU SCUMBAGS!!! I hope all the EA's go bust - they are SCUM!
  4. As I have just posted on another thread. Good Property will ALWAYS sell, ALL OF THE TIME. The shrewd investor, buys the best properties at the least possible price and renovates. This makes it a good house, in a good area, in good condition. If someone wants to move to that area and the market value is say £200k for the area and it then becomes a buyers market (ie the market is going DOWN). Someone WILL pay the £200k for that property because its in the RIGHT area and is a PERFECT house. THE BMV arguement is as valid as AMV. Whatever people are paying for their housing - THAT IS THE VALUE. Whereas people would pay £220K when the last sold for £200K - that is their perogative. This is accepted and then EVERYONE expects thjeir house to sell for £220k - even though they dont have the conservatory or loft conversion! The same can be said for someone who buys today at £180K. You have NOT lost 20K its simply what someone is prepared to pay! Unless there is regulation in the housing market it will always be this way - Just hope people realise that PROPERTY CAN GO DOWN!!!** TB ** SORRY! The property has not really gone down in value - It just hasnt achieved as much as it may have done in a BOUYANT market
  5. You are quite correct. There is, and will always be, money to be made in property. In the LONG term if you bought today and sold in 25 years you would make money - its called inflation. The arguement that people get across is that in the SHORT term the prices are going to drop. You are buying a deflating commodity. The market was flooded with amateur BTL's who basically just bought a property and sold for a profit. The profit was not down to the work that they done on the house per se, it was partly just 'demand' and high expectations from asking prices that were achieved. We, the bears, argue that you could STILL make money out of property if the prices were 50% cheaper. The return may not be as much but you could flip 4-5 houses a year if the prices were available to more people. IE Cheaper. Hope you make money - good luck to you. All I am saying is this, "If you feel confident that you can make money in todays market - then good luck to you. I certainly believe that whereas 1-2 years ago there was people queuing up to buy property at any price, today there are people saying I AM NOT PAYING IT. The buyers control the market now! TB PS I do agree that GOOD property will ALWAYS sell, ALL OF TIME. Just dont expect the profit margins you are accustomed to!
  6. Cheers for pointing that out. The question begs though, surely they can see an affordability issue? Certainly where I am in the NW its gone up 400% in 4 years!!!! TB
  7. Estate agent valuer if EVER I saw one!!! Just make any figure up - it dont matter!!!
  8. Just reading the Webpage for Office of the Deputy Prime Minister after being thrown there off this link http://live.cml.netxtra.net/cml/media/pressdates I noticed there was link for some ODPM data, so naturally I clicked it: http://live.cml.netxtra.net/cml/filegrab/p...df.pdf?ref=3241 It finishes in OCT 2004!!! Not what you call UP-TO-DATE! Certainly not LIVE data! But it lead me something even more sinister on their website http://www.odpm.gov.uk/index.asp?id=1156169 It explains about the data and I seen this paragraph The Fact that it finishes in October 2004 shows that the affordability issue is not even being looked at anymore. Why dont the just come on the news and say "Your all F00KED!" ?
  9. go for it!!! If they accept, which is doubtful, you have just forced the market down in that area!! Expect your windows to be smashed TB
  10. The probability is they are OVER-VALUED by about 20% anyway!!! 5% means they realise their expectations in todays market are optimistic. Still, a good sign that other sheep see there is a sale on! TB
  11. how about this one? Women are always right! Aren't women is denial that they CAN be wrong? Im only going for a couple of pints? Men are in denial that WE CANT only have a couple of pints Of course I'm great in bed? Both guilty there! The economy is growing GB - now stop telling porkies, you little tinker!! Keep em coming.... TB
  12. Excellent post! I agree with your philosophy. I was going to buy in March £130,000 3 bed semi in Wirral. Looking back, it was small, bathroom was pitiful and there was no way of extending. I eventually decided, Sod it! I think House Prices have gone as far as they are gonna go. Admittedly, they still seem to be "reported" as rising. As someone else posted though. How can prices rise when selling prices are lower? The answer, the majority are based on the asking price and EA's and sellers have inflated their asking price to factor in a 10% drop, or sometimes more. For every asstute person, like us, there are 50 DICKHEADS that just see WAS XXXX NOW XXXX and think they have a good deal! My thoughts were this. I was going to borrow £117K on mortgage then with 13k Deposit. I am now looking at buying in Summer/Winter 06. At this time I will have 30-35K. I could get a mortgage for £105K which is me and partner x 3 salary. and have a final purchase price of £135-140K. But the house I buy for this amount will be a £170K house NOW! This means I am buying a GOOD house, at a GOOD price with an affordable mortgage. If your in NO RUSH then keep saving and restrict the amount you borrow. TD
  13. And it was all going so well....... £842 over 35 years!!!!!! SERIOUSLY LOOK AT THE REPAYMENTS FOR 7-8% they RECOMMEND 12%. Most mortgage calculators wont go to 35 Years!!!! I detect you have struggled to get a regulat 25 year mortgage based on affordability I WOULD SERIOUSLY RECONSIDER YOUR POSITION. I would conclude that the fact you are being offered a 35 year mortgage means either your joint income is less than 26K a year or you have a bad credit history? If thats the case - you really cannot/should not proceed. (If this is not the case, then I apologise.) Only my opinion, but THINK TWICE! Interest rates WILL rise within that 35 year time scale and you are probably in the BEST CASE scenario now. I just feel this has got repossession written all over it. Pull out and set your targets a LOT lower. If the banks/BS wont lend you money over 25 years there is a reason - YOU CANNOT AFFORD IT. TB Sorry for being blunt, but /me worries
  14. Might put my mums up for sale when she goes on Holiday. £1.4 Million reduced to £179,950 F.Q.S. Pathetic people!!! Bet this had never been on sale at that £189,999 mark. I know the area and that part has not peaked to that in my recollection. :angry: TB
  15. Sorry Guyz 2% here for first 6 months then rose to 3% for remaining 6. TB
  16. My Capital One got raised to 10K - I earn £25k +Overtime. DOES NOT MEAN YOU HAVE TO USE IT!!! They could could not give a 'flying f*ck' whether you can afford it. Its down to the individual to show restraint Im afraid. TB
  17. Phaedrus Whats the point of you fighting for fair prices on houses? You dont spend any time there!!!! And when you are there, all you do is sleep!!! Anyway, good luck to everyone - I dont begrudge anyone a good wage. I answered honestly at £24,700 plus overtime. This year should make about £32-33K. Print trade is renowned for oveertime. This is a GOOD WAGE for where I live (Liverpool). The average is approximately £18K p.a. I know Im well paid for the area I live in but I am not jealous of someone earning £80,000 down South. My brothers Boss comes to Liverpool all the time and is on a good wedge but he said its a lot cheaper living in liverpool than where he is - think its around camden town?? Heard them talking about it so I am presuming it . I think the polls really throw the arguement of affordability out the windows when people disclose that they are on £50K plus salaries TB
  18. Some very good information there. Why did News at 10 report a drop of -88 then at 10.35pm!! ????
  19. Just checked the markets on BBC and bloomberg and it says DJIA 10,229.95 -115.03 -1.11% But the 10 O Clock news said at 10.35 that it only finished -88 points? Is there an internet lag? TB
  20. Cleverly worded - At the end of a 25 year mortgage the cycle would have gone down and then back up again. I am certain that if you buy a property TODAY it will be worth more in 25 years time. I do feel though, you have avoided the question. Would you bail out or sit it out? I will not diss you - whatever the decision. Just trying to understand what you would do IF your business plan takes a turn for the worse? TB
  21. I really can't understand the SPIN aspect of these reports? Do people think we are really bothered that people are applying for mortgages hoping to buy a property? We want people to get mortgages. We want them to go to the £130K house and say we can offer you £105K - that is OUR MAX!! Why do people think that we expect the whole housing industry to STOP DEAD? It is not a sign that the market is bouyant. Its a sign that EA's might sell 11 properties this month instead of 8. Compared to maybe 40-50 in the boom this is still depressing sales. TB CTT. Your observation is quite correct. A house I was looking at in March needed £50Ks worth of work. I was going to to get 90% LTV for SHELL and put 10k up cash and borrow the further 40K on a rolling mortgage. House valued at £165K - last sold was £200K was offering to buy for £102K - then £112K - total spend £150K is with a custom built, perfect house. Told me to feck off though Still for sale - wonder if he would come back to me?????
  22. I have to say ITS MY FAULT! I actually got 2 mortgages approved. 1 I asked for and another that the banks processed based on an ENQUIRY! :angry: . So out of them approvals I am responsible for 2. I am buying? Am I F*CK Stats???? B0llox all of them. Approvals are not always reacted on. Anyone knows that. My credit card got upped to £10K without me asking - It does not mean I am potentially 10K in debt does it? Im spinning around..... move outta my way ...... I know you feel it coz you look like a [email protected]!
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