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House Price Crash Forum


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Everything posted by teddyboy

  1. Thanks for all your help! Been valuable! TB
  2. Just some strange properties I have noticed - I hope that Rightmove used their discretion in NOT including these in asking prices. http://www.rightmove.co.uk/viewdetails-600...pa_n=1&tr_t=buy which is for sale with William H Brown http://www.sequencehome.co.uk/detail.asp?t...=1&id=BWB101993 http://www.rightmove.co.uk/viewdetails-465...pa_n=1&tr_t=buy which isn't for sale with the said agent http://www.rightmove.co.uk/viewdetails-468...pa_n=1&tr_t=buy dont seem to have a website?? http://www.rightmove.co.uk/viewdetails-460...pa_n=1&tr_t=buy which isn't for sale with the said agent This is a plot of land - is that defined as 'Property'? http://www.rightmove.co.uk/viewdetails-913...pa_n=1&tr_t=buy This is wrongly priced should be £149,950 not £149,950,000 http://www.rightmove.co.uk/viewdetails-943...pa_n=1&tr_t=buy
  3. Its actually a Solicitors/Conveyencers/EA and YES they would sooner sell 10 at £1 than 1 at £10!
  4. I am thinking of changing my bank account from NATWEST to CAHOOT. I have a personal loan with cahoot so have no problems with them to date and were very competetive. I know I can change all my banking to them but as it stands my CASH ISA with Natwest only pays 3.5% gross but CAHOOTS is more like 4.8%. I have used my 3,000 for this Financial Year. Can I transfer that fund to CAHOOT or will it look at it as a withdrawal and I cannot them put any money in another ISA? Secondly, do cahoot have an account where I could offset the interest of my loan against my savings. (clutching at straws ) TIA
  5. Heard to day about a work colleague who's sister put her house on the market last week. The EA who *are* probably the most realistic with pricing (still overpriced tho - but they think the prices are a joke) has told them drop your expectations and expect a long haul as only 1 in 10 of their portfolio have sold this year!!! At least they are being realistic - they even told me they would always undercut other EA's for a house in the same area - if it was up to them they would sooner see prices back to 2000 levels are there was a steady income then and a lot more transactions. DENIAL is slowly fading ... AT LAST!!!!
  6. I think its quite clear from the whispers around my area that the sellers and EA's are getting quite picky who buys their houses. Sounds like a strange statement is a depressed market but think about it and it does make sense. Agents are finding that a lot of people are putting in offers and finding out they dont actually have the funds available. This is not only disasterous for that sale (I will try not to laugh, but it is hard) but it also harms the other sales up the ladder. Therefore it could affect up to 6 sales which could be worth maybe £2m!!! So a lots of agents are asking sellers to make sure that they have their finances in place before making offers, in the same way that they are not taking offers from people who have not sold their existing property. I have a mortgage approval in place so IF I see a house I like and want to put in a SERIOUSLY reduced offer on the premise that the money is there waiting - I have a strong case. I AM ON THOSE FIGURES but the chances of me BUYING are slim at best! I think there are a lot of people like me, money in place waiting for the DIRE winter months, ready to pounce on a desperate, suicidal seller. I also agree that what's been approved and what's been completed are 2 different things. I thing there is a percentage that are getting mortgage approval now because I honestly feel that the MPC will realise their mistake and put IR back to 4.75% - whilst the mortgage quote is valid for 60 days (correct me if im wrong). I could of answered this in 1 word SPIN
  7. Am I the only one here that believes we NEED people to buy - As long as the put in offers 10-40% UNDER the asking price. Surely everyone putting in LOW LOW offers will force the sellers/EA's to push prices down? Or am I just pissin' in the wind?
  8. Jason I know what it says - its the figure - You dont sell a £10m house and be pedantic enough to get to the exact pound? It looks like a made-up figure to me. Whether its been used is one thing but the fact this it is NOT for sale with the EA that they imply is selling it sounds a bit fishy to me
  9. why didnt they say what it sold for? £100,000? Bastards!!!!! Anything sells at the right price
  10. RFD - Firstly, sorry to hear about your loss. I CAN understand that when there is a berievment your outlook on life changes. I know that this is NOT a rash decision taken through grief, and I know that in differnt circumstances you would like to wait. But, I think you are doing the right thing. Things need to happen for you in the short term (which I hope they do) IF you are still employed IF your business succeeds IF interest rates are kind to you IF you get a good mortgage deal IF you get a good price IF you can afford it then LIVING is worth far more than money. You will be supporting 2 others plus a dog - The happiness that will bring you will make it worth while. PROMISE me one thing though. You SCREW those ******* EA's that ask TOO much and tell them I AM BUYING - I AM NOT PAYING YOUR PATHETIC PRICES - I will give you this much or FECK OFF you scumbags!!!!! Then live happily ever after..... GL to you and your family...... and the dog. Keep posting as you have me in stitches with your wit - CHIN UP this is your chance to let all this anger out. God help the poor EA that has to work with him BTW We need people to buy at LOW LOW prices to FORCE prices down - Losses in sales will make them change their views on the prices but CONSTANT very LOW offers will FORCE the prices down.
  11. I have checked out the prices in Liverpool - the EA are still overpricing the property by up to 40%!!! check out this thread http://www.housepricecrash.co.uk/forum/ind...topic=15026&hl=
  12. I find it hard to believe that the surveyor looked at the house and allowed the bank to lend him so much for a house thats overpriced- Sounds like BS to me - Its not financially clever and I can't see the bank borrowing that amount on a declining asset???????
  13. Below is a post i have put on thisismoney. This seems to be going on all the time - Rightmove base their asking price monthly report on the following statement. The September edition of the Rightmove.co.uk House Price Index is now available, showing trends in asking prices up to 10th September 2005. Based on over half of the property market, the House Price Index is the leading indicator of residential property prices in England and Wales. So it amazed me when I seen that the actual drop this month is only a paltry 0.4%. We all know the marketplace has nose dived and estate agencies are going bust or issuing profit warnings. http://www.estateagencynews.co.uk/news/cur...news-0905b.html You dont go bust with a 0.4% drop in prices. The drop in sales is another issue. So I checked out some of the houses and I got thinking - if there is an AVERAGE then the expensive properties are averaged out with less expensive properties. Try looking for houses UNDER £100K - they are almost non-existant. So where does this average come from? It's down to so called seasonally adjusted figures (in other word - lets make it up so it looks good). One minute they are telling you that May to September are poor months because of the holiday season - the next they are saying that August was a GOOD month with sales picking up and prices rising. All spin imho. I have checked out the following house on Rightmove. http://www.rightmove.co.uk/viewdetails-465...pa_n=1&tr_t=buy I then went to the so called sellers website http://www.hunterandbloomfield.com/ I thought the price £10,554,584 for a 2-bed studio Flat was both HIGH and a strange figure. I then found that the property DOES NOT EXIST on the so called sellers website - the highest property they have is just over £2,000,000! Sounds like botched figures to me!!!! This is immoral, and IMHO it's no different than FRAUD. Exorting money out of people with doctored information to make the HPI look high.
  14. Why are they are not touching on DEBT!!! Im starting to think FECK IT just borrow and if you can pay it - just borrow more!!!! If it goes wrong just FECK OFF to a bar in Spain CRIME is the answer - lets all rob banks and disappear! At least if you get caught youll have a roof over your head in the local prison DEBT IS GOOD - HONEST BTW Love the new quick edit feature!
  15. Its a difficult situation. I am 100% convinced we are heading into a recession. The economy looks week and its not just in this country so where does it help? On the PLUS SIDE house prices will collapse. To put it into perspective - people believe theat house prices are the asking price. I DO NOT. The house is worth either above or below the last sold. The prices in my area are 30-40% less than the asking price. As far are the "house price" is concerned I think that the EA's asking prices WILL fall to selling prices (In my case 30% less) as far as the actual purchase price I believe these wil fall maybe 5-10% maximum. EG house for sale with an asking price of £179,995 Last sold price for that street was £135000 I believe you will get that house for £135,000 in the next 12 months. I also believe that you MAY get that house for 125,000 to £130,000 if the economy does not pick up in the next 3-4 years. So the actual REAL drop in price is only 5-8% on the PEAK price. The problem is PEOPLE ARE GREEDY - When the EA's get found out that they are grossly OVERPRICING property the sellers - who then become buyers - will realise that their next house is also 30-40% overprice and therefore there will be CORRECTION. THE DOWNSIDE With the economy looking weak I believe interest rates WILL rise before CHRISTMAS. I believe that they may rise as high as 7% in the next few years - this mean that the mortgage you get if its a repayment mortgage will not dissolve as quick. I.E. The monthly payment of say £900 will only pay £300 off the loan. Where at 4.5% your repayment may be £800 with £300 payed off the loan. I.E. It will cost you more TO FINISH THE LOAN like-for-like. The good news is the LOAN VALUE should be a lot less. Like CHAZ I am saving money - interest rates rise so my money is MAKING money. Therfore the house price is coming down - my deposit is going up and therefor my actually load amount will be less. When I get to a point where my mortage is for say £100,000 I will BUY. My wage and partners based on 3.5 times salary plus 1 x partnet is £108,000. There is no right time - you may buy your house and find it drops another 5%. You have to decide what you believe to be a FAIR and AFFORDABLE price. Good Luck!
  16. "Right now foreign property is as much as a third overvalued, a particularly tough proposition for sellers" Now call me callious but IF THESE PEOPLE WANT TO COME HOME - then drop their price by 33% and it MAY sell. I can guarantee that they will still make a profit on the property. If they hold out for a silly price - ****** to em!!! Cant wait to scream at the screen when this is on!!!
  17. mine was Gordons saying "Are you sure you took that fuse out of the fan. Coz things are starting to hit it!!"
  18. I think its all false!!!! What is the drop - the asking price or the selling price? Everyhouse I look at I compare with the last sold price in that Street. I find the difference is on average 30-40%!!! I Dont intend to pay the FALSIFIED asking price. I will look at the sold price and base my offer on that - If I getr it at the last sold price its 30% cheaper than they want - therefore it has DROPPED 30%. People Laugh at the fact the the prices will drop 30/40/50% but we dont flinch when we see asking prices at 40% more than last sold. EA's generally had the last sold price plus 5% rule. Now its F*** IT put up to 50 grand more and when they offer 30 grand less the think they are getting a bargain, but we actually making an extra 20k on the house. WAKE UP AND SMELL THE COFFEE - ASKING PRICES ARE WORTH JACKSHIT!!!! Base offers on sold prices and DONT even take an asking price seriously. Show the seller the sold price information and tell them the EA's led you up the garden path. If you were to say they will drop 30% of the sold price then this is maybe a little optimistic, but feasable over time
  19. First things first, I dont believe that the last fuel protest did anything. But we live in a Democracy and we have a right to protest peacefully. The implication of a fuel blockade can be quite catastophic. It will affect business as people cannot get to work and will not travel to spend money at shopping centres. This is the only reason there will be any action from the government. BUT it will never get that far. Stanlow will be bombarded with protestors - that I have no doubt. But I guarantee the army or armed Police will come down there and disperse the crowd, with force if necessary. Why you ask. Have we turned into a communist state? No its simple. We have this little work that puts reason into everybodies head. TERRORISM. Im sure the majority have heard the that intelligence reports say that fuel trucks are a serious target for terrorists to steal and drive into major government buildings. Do you honestly think the security services would allow FULL tankers to be blockaded whilst we are still on terror alert? I think not. No matter what happens, we have to look at both sides of every coin. Lets say the do blockade, petrol rises to £1.50 a litre and we have 3 weeks of turmoil. The plus side is, MPC would surely put up inflation 0.25-0.75 p.c. Which in turn slows down the rate of borrowing, which in turn would have a diverse affect on the consumer spending which in turn will make the MPC think about dropping interest rates to make things more affordable. It's a vicious cycle that at the end mean it will cost us all more. Lets say interest rates go to 8 p.c. (this is the max I beleieve they will go to). Even though your £150,000 house is now £110,000 - at the higher interest rate your mortgage would still be about £800 a moonth - so where are you gaining. I think we should hope that the MPC put IR's up 1/4 p.c. and the fuel situation sorts itself out quickly. We should then get a balance of high IR but not too high.
  20. What about "The Debt Factor" The concept of the show is to get people who have bought property in the last 2 years. I believe the number of entrants would make X-Factor look like a queue at a bus-stop. The Millenium Stadium has already been booked. We will split the contenstants into 3 groups. The FTB's, The Property Developers and The Estate Agents. The FTB's All's you need to do is wait - when inflation goes to 6-7% your first move is to shit yourself. You have to prove to the judges that you really are up shits creek and cant even afford a full tank of petrol. Contestants can show proof of "doo-doo" but tears and frustration will earn you more points. If you can prove that your OUTGOING are more than your Incomings, then go through to London. The PROPERTY DEVELOPER This species has to prove to the judges what a complete asshole the have been by believing that 'Prices cannot go down' and '3% Yeild is GOOD'. They have to show proof of spiraling mortgage costs and the problem he has trying to increase rents in this saturated market. At this point he shows his reaction to the news that the young students he had renting his apartment have told him to 'feck off'. If he is wimpering like a dog at this stage he will go through to London. The ESTATE AGENTS His role is to try and prove that he's sold a property without a single Lie. This is the most difficult of rounds. To make it tougher he has to face the judges whilst 'Mr & Mrs Softbastard' face him. Unfortunately, Mr & MRs SB had fell for the sales pitch that you need to BUY BUY BUY!!! They believed him cos Phil & Kirsty said so. If he can get through this stage without Mr Softbastard twatting him - he will go to London. FINAL IN 'LONDON' With all 3 parties phucked at this stage. FTB's getting final demands, Property Developer having not rental and Estate Agent earning NO COMMISSION. It's now up to the Estate Agent to try and sell the FTB's House to the property developer. For every 10 minutes that pass the price drops 5%. This will upset the FTB's. If the price is too HIGH. This upsets the Property Developer. If he cannot sell it at all. This upsets the FTB's. Ooops, I forgot the Estate agent is phucked here? Ahh well, never mind. The eventual winning is NO ONE!!! Its a prime lesson to not believe the SPIN, DONT BORROW MORE THAN YOU CAN AFFORD and more IMPORTANTLY dont believe the estate agent! hee theres another one 'Dont believe your Estate Agent' (Dont forget your toothbrush) :0
  21. What about an estate agents called 'Robin B'[email protected] With their motto - We guarantee to ask the highest price possible! or 'Robin Overprice', 'Robin Price'. It'll never work - lets just let time take its toll.
  22. hmm wher do I know that name from....... Evolution's Mr Bubb, who expects UK like-for-like sales to fall by 5 per cent, said the outlook remains poor. "They can't force consumers to spend money." Dont think its our good friend Dr. Bubb - but it could be a sign? Spooky.......
  23. who cares about her? Did you read this in the same page BY WINNING the European Cup, Liverpool have gained an extra ten million fans across Europe, making them the third-most popular team behind Real Madrid and Barcelona, according to a biennial report published today. Sport+Markt’s European Football Monitor finds 18 million people aged 18 to 69 in the five key media markets declaring themselves Liverpool fans. The effect of having Rafael Benítez in charge has also resulted in Spanish football fans switching allegiances from Arsenal and Manchester United. The Merseysiders’ support in Spain has quadrupled in the past six months, while Arsenal’s has halved and United’s has fallen by a third. Thanks for the links (Sorry couldnt help it)
  24. My knowledge of excel is VERY limited. One of the reasons for doing this was to record the asking prices of properties. Then in 5 months I can see if the same property is still for sale and if they had dropped asking price. Your idea is excellent - I wish I knew how to do it though I am also interested in what the rest of the country is like. Thats why I am asking others to do the same - only need 30 properties or so. It takes about 45 minutes to complete. I am the biggest OPTIMIST going but I just feel in Liverpool the EA's and Sellers are not playing ball. If I got a view of other areas I could see if we are LAGGING behind the rest of the country when it comes to REAL reductions.
  25. VP I sort of believe that they are dropping but certainly in Liverpool the Estate agents have been increasing asking price continually. The house in our road was on 9 months ago for £279,950 and has dropped to £215,000 and it still aint selling. Thats £65,000 dropped but the price of £215,000 for this area is STILL TOO HIGH. Otherwise it would have sold. If I was a betting man I think it will sell for about £180,000. Approx. £100,000 less than the initial valuation. My point of this chart is to show which EA's are the ones pricing realistically and which are the robbing bastards. Also to show everyone that EA's are NOT reacting to market conditions - THEY ARE GREEDY!! People dont see this and continue to get themselves up to their necks in debt.
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