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GordonGreer

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About GordonGreer

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  1. The wait is over for the Eastbourne market to crash. We exchanged today so, on that basis, 20% down in the next year is guaranteed... Seriously, I am perfectly happy to have secured a low interest rate (fixed for 7 years) and to be looking forward to being in our own home. Prices are going absolutely nowhere, in nominal terms which are the only ones that matter, and I can't see that changing. The next development which is a complete no-brainer will be longer terms for mortgages to maintain affordability at something around current price levels. There is a new attitude to debt, no longer
  2. Not sure if it makes me feel better or worse...! It is definitely funny to think that if you've bought in Meads, with a garden, then it is probably a house we looked at and were frustrated by it selling...!!! Which part of Meads are you in? (don't worry I'm not planning on stalking you!) Our situation is confused by the fact that we are very lucky where we are renting - detached house with a massive garden in Meads at a below-market rent - and so for us to buy at the moment would involve us reducing our circumstances. It is weird for me how precisely the house we currently live in has
  3. Well, here we are another six months on. Summary? Nothing has really changed. If anything the level of supply has fallen further and prices are being maintained at around 2007 peak prices (nominal terms - which are the only terms that really matter to me...). Occasionally something sells at a price that might be a bit below what it would have got at peak but probably more are selling at prices above peak and many are ludicrous. A house in Cranborne Avenue sold for around £800K last month having been bought at some point on the last few years for something like £450K (I can't bring myself
  4. Agree with all that. See one of our old favourites from this thread fell through today as well (£500K in Upper Ratton). I'm never exactly sure but I think (in the range £300K-£700K) more houses have gone from "SSTC" to "Available" in the last 4 weeks than the other way round, in addition to the new listings, so an actual net negative month for the EAs rather than just zero sales...?The evidence of the past 4 weeks is starting to get quite interesting. Obviously we're not going to see 10-20% capitulation overnight but things do seem to be heading in the right direction. My own aim is not to
  5. Which road in Meads? We are probably viewing some of the same houses.. After quite a lot of sales in January and the first part of February (did you see Rager & Roberts newspaper advert this week?) I am greatly heartened by the last 3 weeks or so that have definitely been of increased supply and almost no sales... A nice drop on one of my favourites in Seaford this afternoon has cheered me further. Fingers crossed for a more consistent flow of "good" news from hereon in...
  6. Agree that we have a way to go... there is still plenty of comedy pricing out there. Also, there haven't been many reductions in the last couple of weeks - the only comfort I can find at the moment is that almost NOTHING is selling... the last 14 days for Eastbourne(+5miles) show not a single house sold in my range of interest £350-700K and 43 new listings - in fact with one house going from SSTC back to available you could say the EAs have a "minus one" result for the fortnight... Not aware of any snow in the last couple of weeks or any reason why NO houses should be getting sold (apart f
  7. Thanks for the "glass half full" perspective. I agree that things are getting better and that what we have long regarded as inevitable might be at least on the horizon. Searching RM houses at £350K and above in Eastbourne(+10 miles) gives 96 additions in the last 14 days and NOT ONE SALE- this has to be good news, although I admit I'm not sure exactly how significant it is...
  8. No change in last 2-3 weeks - unfortunately still have to agree with you about the "sizeable number of buyers" "chasing up prices"...This one has come back on after being de-listed over Christmas and is at a fairly ludicrous price... http://www.rightmove.co.uk/property-for-sale/property-33037544.html This one below also came on recently and it won't surprise me to see it go for close to asking (lots of interest, compares well to other stuff available despite not being much house for the money, etc) - would love it not to but no reason for much optimism about the short-term http://www.rig
  9. I was going to make a very similar posting... the two in Saffrons Park and the one in Parkway have all sold within a week or two of coming on and so presumably at or close to asking price. In addition, this one on Summerdown Road has just had two people wanting to pay full asking price and gone to sealed bids...! (plausible information from a relatively trusted EA...)http://www.rightmove.co.uk/property-for-sale/property-32319896.html In true HPC style one can try and put on a positive spin about "flushing out the last of the pent-up, equity rich, demand" although it seems a bit hollow and mo
  10. it is easy to read the available information and create a bias one way or the other... my "stats" from this morning could seem to represent a situation that is swinging rapidly towards the buyer with significant price falls inevitable (i.e. plenty of new/reduced listings and almost no sales...)On the other hand, your impressions and my firsthand experience suggests that there is a significant trickle of houses continuing to sell at "peak bubble minus no more than about 10%" which is obviously completely mental...! It is hard to argue with the mating call of the Greater Spotted Estate Agent th
  11. Extending the above a little... BN21 + 1 mile, £325K-£800K, past 14 days shows 23 new/reduced houses and still not one sale BN21 + 5 miles, £325K-£800K, past 14 days shows 38 new/reduced houses and just the one sale mentioned above (for Healy Partnership) - so not a great fortnight for the Eastbourne EAs... is this the start of something or just another false dawn?
  12. Thanks. It is a horrible moment (all too familiar unfortunately during the past 2 years) when something sells at a price you can't quite believe and just when you had started to think things were going your way... The daily and obsessional analysis obviously makes it very hard to see the wood for the trees, but I can't resist it... Today, the bad news is this one selling so quickly (presumably snapped up for asking price...) http://www.rightmove.co.uk/property-for-sale/property-18047301.html while the good news is that the most relevant search for me (BN21 + 1 mile, £425K-£500K, past 14
  13. Which house? The problem with my bellwethers is that they keep selling... I looked at a house today and it was mixed news really. http://www.rightmove.co.uk/property-for-sale/property-32527124.html Very nice house but a busy/noisy location. Last sold in March 2004 for £360K. Calculated Q4 2010 Nationwide (outer South East) price brings it up to around £400K. I guess they've genuinely "added" somewhere around £40K with improvements so a "fair" price comes to perhaps £445K (which is what I hoped it might sell for...). Have to agree with EA, however, that, at the moment, it probably wil
  14. Agree very much with this... it does seem that the pace is finally starting to gather but at the same time prices are still largely completely mental. Prices are still being set roughly where they have been since 2007. There are still a few people rich (easy come equity) and stupid enough to pay these prices. However, increased supply and the penny finally dropping for the masses do look like they are now starting to combine and force prices down as the majority of buyers can't or won't pay. I can't quite work out exactly what it means but at the moment my broader search is showing somethi
  15. Yes, no question that there are more coming onto the market than are being sold at the moment. I was disappointed to see this one go under offer today though, will be interesting to see what % of asking price was paid in the end... http://www.rightmove.co.uk/property-for-sale/property-23989597.html Have been to look at this one http://www.rightmove.co.uk/property-for-sale/property-29135833.html Nice house. To get a reasonable deal in light of where prices are headed I'd want to get it for no more than £420K and I don't think we are at the stage where that sort of deal is possible yet.
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