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Van

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Everything posted by Van

  1. Inflating the debt away. Will be interesting to see Freetrader's updated charts.
  2. It's clear that we are in a period of moderate stagflation now. Rising prices, falling output and falling real wages - i.e. we're phucked.
  3. Yes, lack of supply is a myth. I remember a few years ago Sledgehead had also debunked it also in exactly the same way.
  4. Yup. See my thread here: http://www.housepricecrash.co.uk/forum/index.php?app=forums&module=forums&section=findpost&pid=2903111
  5. I would say that's perfectly acceptable. That's the whole point of having the survey done.
  6. Have noticed it too. I don't think there's anything to be alarmed about. If someone has decided they are going to sell in Spring, then the 1st week of March is probably the date they'll all shoot for. They'll be a steady trickle until 1st week of April.. and then there'll be a HUGE supply of new properties.
  7. At the end of the day, whether it's London on Lanakshire, house prices have to align with local wages. London isn't immune to house price falls, and parts of the capital are already falling along with the rest of the country. Other parts of London are still holding up quite well, chiefly because of low interest rates means few forced sales, but another few years when rates are higher, the Olympics is out of the way and more austerity measures are passed, there will not be a house in the capital that is worth more, brick for brick, than it is today.
  8. Just a couple of random selections from my Property Bee -------------------------------------------------------------------------------- 37.5% off this retirement property in Beckenham: http://www.rightmove.co.uk/property-for-sale/property-15030981.html History date event 09 March 2011 * Status changed: from 'Sold STC' to 'Available' 23 February 2011 * Status changed: from 'Available' to 'Sold STC' [Found by n/a] 13 November 2010 * Price changed: from 'Guide Price £55,000' to 'Guide Price £50,000' [Found by n/a] 27 September 2010 * Price changed: from 'From £55,000' to 'Guide Price £55,000' [Found by n/a] 01 September 2010 * Price changed: from '£80,000' to 'From £55,000' [Found by n/a] * Status changed: from 'Sold STC' to 'Available' [Found by n/a] 29 June 2010 * Status changed: from 'Available' to 'Sold STC' [Found by n/a] 21 March 2010 * Initial entry found. [Found by n/a] 20% off this 2br place in Earlsfield http://www.rightmove.co.uk/property-for-sale/property-26794042.html History date event 09 March 2011 * Status changed: from 'Sold STC' to 'Available' 07 March 2011 * Status changed: from 'Available' to 'Sold STC' [Found by n/a] 22 February 2011 * Status changed: from 'Sold STC' to 'Available' [Found by n/a] 20 February 2011 * Status changed: from 'Available' to 'Sold STC' [Found by n/a] 20 January 2011 * Price changed: from '£312,000' to '£280,000' [Found by n/a] 26 September 2010 * Price changed: from '£324,950' to '£312,000' [Found by n/a] 01 September 2010 * Price changed: from '£349,950' to '£324,950' [Found by n/a] 16 July 2010 * Initial entry found. [Found by n/a]
  9. I would just like too add: Make it a condition of your offer that the property is taken off the market immediately. No more viewings. There is a very bad practice that the seller will want to leave the property on the market, hoping that your offer acts as a placeholder. Other buyers (perhaps cash buyer) will then match or improve on your offer, and you are forced into a bidding war or lose the property altogether.
  10. Absolutely. Here are some examples from my Property Bee updates today: http://www.rightmove.co.uk/property-for-sale/property-27584737.html 08 March 2011 * Price changed: from '£219,950' to '£210,000' 17 December 2010 * Price changed: from '£230,950' to '£219,950' [Found by n/a] 27 October 2010 * Price changed: from '£239,950' to '£230,950' [Found by n/a] 07 September 2010 * Initial entry found. [Found by n/a] http://www.rightmove.co.uk/property-for-sale/property-17718993.html date event 07 March 2011 * Price changed: from '£219,950' to '£210,000' [Found by n/a] 23 December 2010 * Initial entry found. [Found by n/a] * Price changed: from '£230,950' to '£219,950' [Found by n/a] http://www.rightmove.co.uk/property-for-sale/property-27585718.html 08 March 2011 * Price changed: from '£825,000' to '£775,000' * Status changed: from 'Under offer' to 'Available' 01 February 2011 * Status changed: from 'Available' to 'Under offer' [Found by n/a] 17 November 2010 * Status changed: from 'Under offer' to 'Available' [Found by n/a] 20 September 2010 * Status changed: from 'Available' to 'Under offer' [Found by n/a] 08 September 2010 * Initial entry found. [Found by n/a] http://www.rightmove.co.uk/property-for-sale/property-32400014.html 08 March 2011 * Price changed: from '£725,000' to '£710,000' 03 February 2011 * Initial entry found. [Found by n/a] http://www.rightmove.co.uk/property-for-sale/property-17543703.html 08 March 2011 * Price changed: from '£349,950' to '£329,950' 05 December 2010 * Initial entry found. [Found by n/a]
  11. LOL. Like the police actually do any patrol work any more..?
  12. Very well said, exiges. These cutbacks have been 10 years in the making. The police got an over-bloated sense of their own importance when OldLab put international terror at the heart of its foreign and domestic policy. Many public sector worker have been overpaid and underworked for too long now. Public cuts can happen, and will happen - and most of us won't even notice the drop in public services, I'll bet.
  13. With public sector redundancies kicking in soon I would not be surprised to see us back in recession this year.
  14. Absolutely spot on. Prices are certainly not rising in the sub-500k market in SW & W London.
  15. Given that prices are back at 2004 level according to the latest Halifax figures, £160k doesn't sound unreasonably low.
  16. Guy who works next to me is trading up in Brighton.. he's buying the house.. FROM HIS DAD.
  17. Very good move, RB. I know you have done your homework and seen this as an opportunity ahead of the market. Of course there will be other opportunities in a falling market but if you can fix at such a low rate now, then why not? Any idea what the property rented out might fetch? My only concern (if I were you) is that it seems like such a good discount that I'm surprised no one else wants the property too and would look to gazump you. EAs are underhand barstewards and often have property investor contacts who they'll let know what the score is- they can then move in on your sale, match your bid, sometime offering outright cash. Have you made sure that it has been taken off the market? Often sellers/agents will continue to invite viewings and offers even when yours has been accepted. If in doubt, get a friend to phone up the agent, give some false details and register their "interest" in the property.
  18. Also, any idea how long it has been on the market? It's well worth reminding the agent/seller sometimes why some houses spend months and months and months on the market because they hold out for the last percent. Point out you're a FTB with a substantial deposit - that is worth a lot in this current market.
  19. Absolutely. Say the offer is valid only for 1 week. That's fair, and very business-like imo. And make sure THEY TAKE THE HOUSE OFF THE MARKET immediately if your offer is accepted. There is a very bad practice being encouraged that they will accept the offer but still say the house is available in the hope of then attracting a higher offer, as yours is used as a marker for other bidders.
  20. If retirement is 20-30 years away then it makes sense to buy the most bombed-out sectors you can now. I'm overweight on Japanese shares, & housebuilders and expect to be so for the next 5 years at least. At some point they'll be fairly valued and I'll and rotate and buy what's bombed out at that time.
  21. I am seeing a lot of new properties coming onto the market, and also properties that only went on Jan-Feb are being reduced. The Spring Rush is most certainly here - rush of sellers that is. Whether or not there are the buyers to match them remains to be seen.
  22. With your LTV you could remortgage and many lenders will offer you a 2 or 3 year fixed rate that is stupidly cheap - eg it's quite possible to get 2.5% with many lenders with 60% LTV. However your outstanding loan is quite small so the setup cost of the mortgage would be considerable if you work out the overall cost over the fixed term. Some lenders have a minimum loan amount on a lot of their mortgages, so because your loan is so small you might not actually qualify for them (you could remortgage and release equity, but I wouldn't recommend this generally). Overall you're in a really good position. Ask your current lender about going onto a discounted or fixed rate. The SVR is just for people who are too lazy to shop around and find a cheaper deal.
  23. Nationwide should "catch up" to Halifax very soon. Here is the Nationwide raw 2010 data. The market was very strong in Spring 2010, so unless it gets a similar boost in the next 4 months the YoY will be heading down, down down. Mar-10 0.8 1.4 9.0 164,519 Apr-10 1.0 0.8 10.5 167,802 May-10 0.4 1.3 9.8 169,162 Jun-10 0.0 1.4 8.7 170,111
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