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morillo

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Everything posted by morillo

  1. Will NI ever come out of recession ;P
  2. The delusion continues: However, many estate agents have reported an increase in activity in recent months, and predict that the bottom of the market has been reached.
  3. I really hope not, surely an EA risking getting caught at that type of thing wouldn't be worth it? If this was to happen, how would you ever prove it?
  4. I'll let you know over the next few weeks, survey should hopefully be done by next week. Actually ended up in a bit of a bidding war, couldn't believe it given the state of the market at the moment. Other party backed out after a couple of bids. The bank/repo company came back relatively quickly (within a day). The estate agent was surprised as he said it quite often took a few days. I'm assuming they must have been happy enough that the offer was close enough to what they needed.
  5. Haha, good question! Better to keep your anonymity Realistic NI EA, its refreshing to read posts from someone in the industry who has their feet well and truly fixed on the ground.
  6. I did, few of the posts on that thread made me see the light. Still feel a bit sorry for the poor punters that got stung. Hopefully the price I got it at will provide a bit of a buffer in case of further drops. Just hoping the survey comes back ok and there are no nasty surprises.
  7. Cheers doccyboy, it will be years too. Hopefully this will be me for many years (10+), so won't be too bothered about the further drops over the next few years.
  8. I bit the bullet and bought this week too! Does this mean I automatically become a bull now? Personally I think there is still a bit to go before we hit the bottom. I jumped now as we got the type of house we wanted, in the area we wanted, at a price we can afford. Will be a bit of a project as it needs some work, but I like a challenge. What I can say is that I could never have afforded this house this time last year.
  9. Haha, point taken! I just wanted to see what other peoples views were i.e. are you likely to be socially ostracised? As said above houses need to be lived in, I guess will look at it differently now, value for money rather than gain at someone else's misfortune.
  10. Low act or completely acceptable, whats the board's views? Really don't like the idea of capitalising on anyone else's misfortune but have see a few recently that have tempted me.
  11. Plenty of reductions in East Antrim / parts of Newtownabbey. Many detached still well above RV but moving in the right direction...
  12. Property-bee is obviously a very useful weapon in the arsenal of buyers - i.e. how long the property has been on, reductions etc. Wonder are EAs tired of listening to "...property-bee shows that this property has been on the market for X years and reduced by Y, therefore I'm only offering Z..." and are attempting to get rid of the problem?
  13. Has anyone noticed that a lot of properties from various estate agents appear to have been re-listed on propertynews to clear their history when using property-bee?
  14. First direct have agree to lend me £X on a 65% LTV basis. The booking fee holds the rate and term for a period of six months. I have completed my application and went through all of their checks based on the amount I want to borrow, without the need to have named a property. Ultimately, as with any mortgage, it will be subject to a satifactory property survey/valuation. I just need to find a property within the next 6 months and they will honour the rate I secured at the beginning of January (3.89%) rather than the current rate for the product (4.29%).
  15. I couldn't agree more, one of the houses that I have been watching has dropped 40k since I started renting last year. (Depreciation in house value) - (Rental outgoings) = 40,000 - 3,750 = £36,250 Renting atm is most certainly not dead money!
  16. I fixed mine a few weeks ago - 5 year fixed rate, 3.89% with First Direct. Had to pay a booking fee of £99 but this holds the mortgage at that rate for 6 months. I may buy in the next 6 months but most likely not. The way I looked at it the £99 was worth the risk.
  17. There's an easy explanation for the price discrepancy, its built on an oil field
  18. Don't need any qualifications AFAIK, just need to have sold your soul to the man with the pointy horns.
  19. LMAO at the first line of that article "Interest in Northern Ireland's housing market is going up according to the latest survey by the Royal Institution of Chartered Surveyors (RICS)." Media will jump on anything, somebody please tell them that interest doesn't equal sales.
  20. ^Completely right. You are actually way over priced, here is a detached house in your area for £155k: http://www.propertypal.com/10-sandhill-drive-orangefield-belfast/134172 You need to come down quite considerably. Sorry
  21. You could ask your EA to put it on as 'offers over' 165k. That way you are signalling the lowest you'll take for it. It will also put you below the 169k figure you gave for the bottom end of the house price range in your area. If you're house is in better condition, better plot etc. it theoretically being cheapest should look the most attractive to potential buyers.
  22. Exactly. I'd drop it by more if you can, you have to be extremely competitive in todays market as there are fewer buyers out there at the moment. To share experiences, I sold my house last summer. I had it on at 135k, priced identically to similar to other properties that were for sale in the area. After a month with no viewers, I dropped it by 10k meaning that I was a good bit below everyone else. It wasn't an easy thing to do, but I had to acknowledge that my house just wasn't worth what I thought it was. My neighbours who were also selling thought I was crazy. In a nut shell, the properties that I was competing with are still for sale and their asking prices are continuing to slide well below 115k. I am now sitting with a decent deposit, happily renting waiting for the bottom. If you can afford to do it and really want out of the area, go for it! If not just sit tight for the next 20+ years...
  23. The thing that I cannot figure out with EAs is their lack of basic understanding of economics. Houses aren't selling, cash flow is bound to be stretched to the max, redundancies will surely follow? Is it not better to shift 10 properties at 10k below asking price than 1 or 2 at asking price or a few k above? They should be pushing vendors to accept realistic prices rather than chasing ghosts.
  24. Don't get me started on EAs, as Father Ted used to say "a great bunch of lads" They are a law on to themselves. There is one EA in particular that I have dealt with in the past few weeks from a well-known south-east antrim agency. I'm sure if the vendors knew of this person's attitude and non-existent professionalism, they would be very quick in removing their services.
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