delighted

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Hi, I have been living on HPC since 2005 but do not post. I have been to the brink of buying twice and backed out as I believe in HPC. Just want to share my situation, I am in rented 3 bed house, a bit scruffy and in need of decorating but in a nice area with good neighbours etc (Northwest)paying £550 p/m . I have 2 young kids and self employed partner. I have always wanted my own place to decorate and call my own, had some awful landlords, very nice one at the moment. We have a secure tenancy and could live here for years. I put in an offer of 170k on a house that had been bought in 2006 for 195k and had it accepted. I have a 40% deposit ( I am a good saver). 2 year fix mortgage would be 534 p/m. I cant bring myself to buy as I am sure we are facing substantial falls in the next couple of years. I am now planning to work freelance so that means that it will be impossible to get a mortgage for a few years. Hope I am doing the right thing but the thought of my hard saved money going up in smoke just stops me from buying. I find that the vast majority of sellers in Liverpool will not take andy significant reduction in asking price. Houses are mostly not selling. The houses for sale are awful and incredibly overvalued. In many ways I would rather rent than buy the horrid offerings within my price range (yes there are some nice houses within my range but these are in areas you would never want to live in).

I have been watching and waiting for years to buy a house (FTB) and have saved a deposit. I have just had my offer on a house accepted 210k, I have a 60k deposit ( I have been saving hard). It is really more than I would like to pay but I can cover the mortgage payments and am planning on a five year fix mortgage. It is my dream house, just right to bring my kids up in. There is nothing I like in the vicinity for between 200 and 300k, not that I can afford anymore than the 150k mortgage. I read moneyweek and HPC, I feel compelled to buy this house but fearful of the price falls coming, although it is a house for life not an investment. What do you think?

Venmore auction site is excellent the property is not moving, prices are down, take a look. But the ones that have sold are still inflated. A far cry from the auctions where they had to lock people desperate to buy out.

i really hate your move magazine, but it is rather delightful to see so many flats - sorry 'luxury apartments' for sale or rent obviously a glut in the market. I recently moved and looked at loads of gorgeous flats for really reasonable rents - cheaper than this time last year. Now decided to take on renting a house, would cost 250 - 300k to buy and i am paying 600 pcm to rent. I have been taking a casual look at buying E.A s suggesting that i make offers on already reduced houses. Still prices are to high annd I would prefer my house in nice area to what i could buy. I am actually enjoying renting, it feels like a positive position

Prices are falling. Local paper Merseymart full of reuctions and sales. All estate agents suggesting'make an offer' prices shown are negotiable. I have tracked prices and sales for 6 months no real movement in sales, reductions between 10 and 20%

What is happening in Liverpool, prices seem to dropping all the time particularly this week. Have you seen the sales in the merseymart? I am waiting to buy as it will come down further - One bungalow asking price down from 189,000 to 149000 within 6 months :