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iBought

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About iBought

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  1. Repeat of A Place in the Sun: Home or Away on More4 yesterday, first broadcast 1 Aug 2008. Scary stuff 4od Catch up You'd think the 'expert' advice would be don't buy at these prices...
  2. Since it can't be much fun being the only one playing I'll have a go at 570. Increasing numbers of house reductions based on the increasing gloom. 'couse now the sun has made an appearance I could be totally wrong and prices (asking) will be up up up across the board (at risk of being made unemployed? Add an extra 50k to the house price...).
  3. Yikes - that has hurt my head. They must have known somebody to get that planning passed...
  4. Are we defining the innocents in the same way? The inoccents for me were those who choose not to buy, seeing the market for what it was. Their own circumstances were negatively impacted by the speculators (Obviously those involved in BTL, but also those 'buying' homes they couldn't afford and pushing the market up). While the housing market returning to a sensible state should enable them to now consider buying the state of the economy may well mean that for some they may now never own their own home (A period of unemployment now following on from the delays caused by the booming market could make this a very real possibility...). I think we need to be careful to excuse those who were simply 'caught up in it all'. Buying should have been a considered decision. And their decisions have consequences (both for themselves and those they priced out of the market). Not that I'm heartless mind - those who took the risk to buy, paying a sensible price, aovided becoming involved in bidding wars etc etc and now find themselves suffering as a result of the wider economy do deserve some sympathy.
  5. And three increases - don't forget the increases. I always wonder what those increasing are thinking. The 50 grand increase is laugh out loud funny. Could they have meant for a reduction (bad phone line when phoning the agent)? Plenty of other houses in the area not selling.
  6. Excellent news. Can just imagine the fear that is now spreading among the over indebted. Not even the big boys are safe... Excellent.
  7. Isn't it great to see the courts reject all the nonsense excuses. Now the financial institutions just need to work their way down their list of defaulters and ensure the message that property isn't a one way bet is firmly entrenched on the Irish mind. Even now too many expect those who gambled to get away with it - not least because of defenses as that employed by Mrs Quinn. I have heard from a number of people, on a number of occasions, that such and such will be fine because of their wife. Never mind the personal guarantees which she and he both signed. The courts doing the right thing will be invaluable to stop future speculation.
  8. So to be clear Patrick having lost his job finds he is not in a position to fulfill his end of the agreement he freely entered into with the bank and he believes by holding a protest he will be granted a bail out. Crazy thing is he probably isn't crazy for protesting - moral hazard be damned.
  9. Quick search of County Down for the last week and there is there is a property showing a drop of .04% (from £120,000 to £119,950). A daft drop if I ever did see one...
  10. As they say it takes two to dance. Market Value will therefore be whatever price both parties can agree upon. At the point of sale for a single house this isn't very informative. You may have a distressed seller, or a stupid buyer, and in either case the price reached could be unique to a particular sale of a particular property. Essentially the market value is good for one day only. If seller and buyer can not agree then there is no market. Clearly the above view creates a difficulty in valuing property. If single price points can not be trusted then it would seem to argue to the benefit of an open Land Registry system. However it should be noted that even the most robust Land Registry information should not be relied upon to establish worth. This would seem to be to give a credible route for price booms to be established. Lenders and buyers should rather be more sophisticated and establish to their own satisfaction the value of the property involved.
  11. Yes the rest of the UK will follow. This should be readily apparent at this stage. Focus on prices likely results from the fact that the failure of the rest of the UK to enjoy the price readjustment enables those in power to continue to play out the farcical pretense that the boom time prices for housing remains viable. This then enables those so minded here to imply the falls in Northern Ireland have been extreme and a further correction, but this time upwards, should be expected.
  12. Not sure what is better. The drop in the value of the site, or the fact anybody though it a good idea to spend this type of money to acquire a site for a new headquarters for the Health and Safety Authority. If it had at least been with the intention of putting the site to productive enterprise I could have some sympathy. Still somebody did very nicely for themselves out of that sale...
  13. The key point was the particular VI being given exposure in the media. Clearly certain individuals would be better served with high prices rather than low. Their view is the one presented by the traditional press. Not all VI are treated (or created) equally. I have no interest in buying a cheaper house (no longer have any interest...), however, for sure I have an interest in property prices - otherwise this would be a strange site to spend any time at. I believe lower house prices will lead to a better society and the country as a whole will benefit. I therefore have a vested interest. As too would the individual on benefits... you never know, we might even see some job creation happening if we had lower cost of living (lower costs = lower wage demands), and that person on benefits will find their way into work... Ideally I would like to see the price of houses continue to fall and the cost of borrowing to rise to something approaching sustainable for the longer term (lets avoid future rate rise shocks...). Then perhaps more will buy property as they would a pair of shoes. Comfortable and appropriate to their requirements, for their enjoyment and most of all affordable to their means.
  14. I would hope that at least for some now purchasing; or yet to purchase but going to do so at the new lower prices, they won't have to concern themselves with mortgage payments at all... So yes, agreed, their outgoings could be lower than the average (those needing to borrow won't be able to access the same rate as those current borrowers on overly generous tracker mortgages so that would be a more confused picture).
  15. 'course that fails to take into account the drop in value of their property for those that bought. Depending on the time of purchase, and property type we might have to factor in hundreds of thousands of pounds...
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