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qwerty_qwerty

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About qwerty_qwerty

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  1. That's exactly what I think they've done (well, maybe about 10-15% overpriced). I just wanted to let the people who doubted anyone would accept a 20% reduction in N1 know that it is possible. Obviously, it does still have to go through to completion though...
  2. Just to let you all know how it went - my offer was accepted (19% below asking price). Thanks for all of your advice - to be honest, I'm really happy with my decision (and the outcome), and can see myself there for a while so I'm not really that concerned about any immediate price falls anymore (though it would be fairly irritating if it happens this year!). Cheers!
  3. Is that because of personal preference, or that you think it would be an error to spend all of your money on a place in N1 when you think the housing market in that area might be about to drop? Basically I'm looking at N1 because that's the closest to central London that I can afford (in the North), and somewhere that I personally would be happy to live. My personal opinion is that the closer to central London, the sturdier house prices will be (however, I'm well aware that this might be a very simplistic point of view, and that there will be quite a few people on here that know a lot more about it than I do!).
  4. The particular place I'm referring to here has been on the market for quite some time, has had its asking price lowered quite a bit, and the owners have had a recent change in family circumstances so need to move fairly soon. I'd also take the 20% with a pinch of salt, as it could well be the estate agent purely trying to encourage me to make an offer to encourage them to lower their expectations a little, or even just to show the owners that they are doing something (something that I have read on here happens sometimes). Hopefully not, but I suppose I'll only find out if/when I make an offer!
  5. I actually can't believe that sold for £420k! When was that? For the record, I have found a few nicer places places, of a similar (if not larger) size, with similar leases, in similar areas that just had wildly exaggerated asking prices. I spoke to the estate agent before going for a second viewing, and explained that I wouldn't consider offering anything over 20% less than the asking price, which brings it quite a way under my budget. To be honest, if I had £420k then I really wouldn't dream of spending it on that place. I just wouldn't be able to justify that to myself!
  6. Just been reading up on that (interesting article here, if anyone's else is interested: http://www.guardian.co.uk/business/ireland-business-blog-with-lisa-ocarroll/2011/apr/28/nama-flooding-london-property-market) and it *seems* as though it's mainly commercial property, and for the residential property that is involved, they are trying not to flood the market. Of course, that could well be me reading what I want to read...
  7. Hmmm... that would be interesting actually. Do you think that this would effect purely ex-local authority prices, or the whole sub-£4/500k market?
  8. I've actually found a few places that I think I'd be happy with for 350k in N1, so I'm not really looking for advice on that regard. Admittedly, I wouldn't have thought everyone would be happy with them, but for me they tick the boxes. My theory behind N1 (though it probably is a little simplistic) is that it central, and has very good transport links so is likely to hold its value if/when the crash reaches London. I know I could afford a nicer property further out, but personally, and financially, this makes the most sense to me. Thanks for all your input!
  9. Ha ha, I know what you mean about the areas you mention, however I *think* I've found a place which I'll be happy with, for the right price (assuming a fair bit of haggling - about 15-20% off a rather inflated asking price). The place next door sold for about 25% less than they're asking for back in September '09, so I think 15-20% is fair with the market how it is at them moment (just concerned that it may prove to be a massive mistake in 6 months time!). Thanks for your insight - as I'm sure you've gathered, that's my main concern, so (whether I want to hear it or not) that's really helpful. Ah, that's a bloody good point regarding the overseas buyers. Hmmm... I'm starting to get serious second thoughts on this now, for good reasons. Thanks for all of your advice - it's very much appreciated!
  10. Hi, I'm currently looking to buy a property in the N1 area of London, roughly around £350k. Am I right in thinking that London house prices are likely to remain separate from the rest of the UK (in that they will continue to steadily increase, or at least remain roughly at the same level over the next five years)? Obviously no one can give a definitive answer, however I'd really appreciate some of your well-informed views on the situation. I know about the favourable exchange rate for foreign nationals and the £1m stamp duty introduction propping up the market recently, but what about in the future? Surely if the £1m stamp duty kept average prices in London high during April, then the sub-£1m market would have fallen like the rest of the UK? Or is that an extremely simplistic view?! Very confused on the situation if I'm honest, and would really appreciate your opinions! Thanks!
  11. I know it's really cheeky, but if there would be any chance of you checking the asking price of a sold property for me (or even grabbing a pdf of the original listing) from RightMovePlus for me I'd be eternally grateful! I'm having a nightmare working out how much to offer on the house next door, as their asking price just seems ludicrous! Thanks, and sorry to be a pain! Rich
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