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House Price Crash Forum


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About Barefoot87

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    HPC Newbie
  1. I put an offer in on a house a couple of weeks back with Express. All I got to say theyre pretty annoying. Don't always speak to the same person and they just lie most of the time. I'm a FTB with fairly good deposit and mortgage at ready. House was up for £179,950 with previous agents in 2010. They have it OIEO 124,950. We went to view the property a couple of times. Few concerns with the electrics and ceilings but otherwise good house nice location. Put an offer towards the EA for 115, considering the work that needs doing, the fact a house sold last year on the same street for 125k. She pretty much declined to put the offer forward and told me that the Vendor would not be interested, it is only offers over £124,950, and vendor is looking for offers close to 135k! So I call back the next day and say final offer put it forward 125k. Says she will get back to me. 7 days later nothing so ring up to check and some other ea reads through the case and with lots of ers, and ermmms finally told me (after confirming the offer I had made) had been rejected and a 'considerably higher offer' had been accepted. I just accepted it and said I won't be going any higher. That's my offer and good luck with the sale. That was a week a go. Find it hard to accept that after 4 years of being on the market (all be it massively inflated) and 7 months of being at this price with Express, two offers had been put in within days. Tempted to get a friend to call and enquire to see if the house is actually in process of being sold. Will wait and see.
  2. I would think that a fare would need to be added to the system and the scanner put in a ready / read state in order for a payment to take place. I think it's just a more convenient way to buy tickets. I can't see good old cash getting phased out any time soon though.
  3. Organisations mainly. I work in the creative / digital sector and OH works in admin / accounts dep. for a demolition / recycling firm who have saw huge drops in revenue. Anyway, viewed the house. We both like it, looks to be in great condition (structure wise) with no visible concerns. Few things to fix, and decor but not too bad. I'm still happy to wait 2 years, but may be tempted to put a very cheeky offer in, to see where that gets us.
  4. How do i edit a post?! Can't seem to see the option anywhere. Also, at peak, houses on the road were going for 150k so seems to be priced quite well. Nice quiet road, house is decent, with a lot of potential.
  5. Looking to buy in the North East (see my post), in Middlesbrough. Got a 18-20k deposit, been renting for a year. Went to see a property in a nice area tonight. We like it. Bought for 53k back in 1999, up for OIEO £100k. Other houses on the road sold recently for around the 120k mark (a little better than this) and the vendors are after a quick sale. Think we may put an offer of 95k in but i still feel like i should wait to see the crash out. Saying that, that may be another 3-4 years which is another 15-20k of rent, and if they went back down to 2000 prices, with inflation talking about 70k? Heard of a lot of people loosing jobs in the area, but not saw much effect as of yet.
  6. Sounds like a good deal. Where did you get that rate for the mortgage? Obviously with a lower LTV?
  7. Thanks for the reply Ader. Sounds like your doing the sensible thing by selling up an renting. Whilst we thought our jobs were secure, in the past few months we have both had threats of redundancy. We still have jobs after cuts yet the threat still exists. So far from secure, but which jobs are these days? Saying that id rather have a different job before I bought to feel more secure. If we did buy I'd obviously be really disappointed that we had if prices were to fall. It would probably be 15k worth of savings down the drain, however in one way we would be paying 5k a year in rent and would have paid off 2 years of mortgage too. Were going to view the property tonight. We have only saw several photos so it should be interesting to see what the rest of the house is like and it's condition given the lower price. I hope my fiancé doesn't fall in love with it and the idea as I'm really swaying towards renting for the next year or two, digging in and see what happens. In this time we could save more, enjoy life that little bit more and be risk free if our jobs did hit the fan. Whilst I am tempted by the lower price, I think it's true value is more near to 75-80k.
  8. Hi Everyone. I've been coming to the forum for about a year now. I've learnt and read so much from many, so thank you all for that. I'm 24, and currently renting a flat with my fiancé in Middlesbrough. (Yep, officially the worst place to live (I know which parts to avoid!!) ). Lived on Teesside all my life, but worked and travelled around the UK. We would both like to settle here for now as this is our home. Where our friends an family are. We have been renting for a year now and both of us are on average salaries for our age. We've been sensible with money and have no debts, any student loans paid off, and we have managed to save over £15k towards a deposit. I'm a big believer that the bigger HPC is on it's way (or currently underway) and getting pressured by fiance and family to buy. I'd love out own place to put our own mark on however, personally would like to wait another 9-12 months to see what happens the housing Market. Saying that, whilst the over inflation in prices is completely different in the south compared to the north. We've started looking at property in the area. Found a 3 bed semi which seems cheap for it's type and location. It's up for OIEO £99950, advertised as a lower price for a quick sale. Were going to view this week and if we like it may be tempted to put an offer in of around 90-95k. Not sure they would take it considering the other property sold on the road and area in recent months (110-140k) - similar property. Looking back on right move data, the property was last sold in 1999 Q3, for £52k. Going by the average house price adjusted to inflation chart, i'd say it was relatively close?? Any advise would be great! Thank you.
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