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House Price Crash Forum


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Posts posted by pobby

  1. Bit of an odd one. The last house to sell in my road, substantial, 2 bed, 3 storey old terraces went for £99,500 in August 2003. In June last year one sold for £83,000 in probate. It needed gutting and was bought by a landlord. On the 22nd of December in 2008 it was sold again for £135,000. the strange thing is that the original landlord still goes there. Some sort of tax thing?

  2. You're very welcome! A friend has corrected me to say that chavs do congregate around the McDonalds in the Orbital shopping centre car park at night. But as it is not near any actual streets or houses it should be ok. The price falls here have been very steep so yes £90-£100k is doable. The reason prices have fallen so much is that there are zillions of new houses and the developers have deeply discounted pulling down prices of other houses.

    And yes there is no rush because I think prices will fall more - the only question being that your existing house is also falling.

    Thanks again. Yes of course there is the fact that our existing house is falling, today would get about £120 to £130 tops. So there is still a margin left if we are looking at flats.

  3. Thank you very much for such a quick reply. Also it was very informative. So 90 to 100k is doable? Even better, lol. I`m not really fussed about being surrounded by other seniors however it would be nice to be chav free. Far too many down this neck of the woods. We could move at any time but we feel that the market is still some way off the bottom and we would feel comfortable selling and buying in a much more stagnant ( price wise ) market.

    I am going to search the net for some piccies of the area and when next passing on the M4 have a drive around. Once again, thank you.

  4. Very interesting. We come from Reading but have been in the West Country for a lot of years. We are considering retiring to Swindon. Close to Reading but not the prices and the congestion. Will be looking at either a 2 bed decent flat or a modern house. No good at diy!

    Our budget is around £130,000 and looking at SN25 it seems doable. Any thoughts please?

  5. makes sense now!

    results will be interesting - guide prices are £90,000+ - purchasers seem to have agreed to pay £160K

    I know 2 guys who are involved in this. One has a deposit on one house, the other has two. Will keep you up to speed with any developments. Currently they are part of a group who are using the same solicitors to try to get out of this.

    This development has been 2 to 3 years being built. Franly I see this all ending in tears.

  6. I`m on the other side of the city,Stoke.Things have been unbelievable in terms of HPI.A terrace in the mid 90s slumped to around 30k.You would be very hard pushed to find one advertised for under £130 to 140k,a rise of over 400%!!!!!!!!!Not much better in Ford or Keyham.It`s only when you move further out to the Swilly that there are houses closer £100k but Ireally would not like to live there.

    It does amze me who is affording to buy here as the wages are pretty poor.Thankfully,I don`t have to rely on the pay here at the moment being self employed and working around the country.

  7. Have a friend of mine in Dublin that has just bought his first btl. He is short each month of 750 euro after getting the rent.Bet his tenant loves him.Even more amazing is that in the next 10 years he wants a total of 5 btls.750x5,now that ends up as a tidy sum.I am gob smacked.

  8. Just had a leaflet from the Halifax regarding my interest only mortgage.Not a problem for me as it is for only £5k,the rest of the house is equity.The said leaflet explains what an IO mortgage is.Like you don`t ever pay down the capital{thought most people would realise this but apparently not}.It suggest ways{all pretty obvious}on how you might pay off the capital.

    I got the distinct feeling that someone at the Halifax is getting just a trifle worried regarding those who have an IO mortgage.Perhaps they are also figuring out the lie-to-buy brigade!

  9. He still wants to have a mortgage as if he goes renting he has a large exit penalty.In fact looking @ his area he will be able to buy more cheaply.He was complaining that a house he bought for 95k has just been sold for 410k!!!!!!!!!!!Startling

  10. Had a phone call from a mate of mine.Told me that he shouldn`t have bought his house 2 years ago what with rates going up.Being single he has decided to down size and buy a flat.Now I just wondering how many others are now thinking about bailing out.What would the effect be if,Like friend,they are not selling to rent but just down sizing to avoid the ever increasing interest rates.

  11. Now, I'm not used to dealing in quantities of dosh of that magnitude, so I was wondering why if you have so much in savings you don't just clear that remaining £5K of your mortgage? Is it something to do with credit rating?

    Yes,exactly.I do not have any other form of credit at the moment so keeping the £5k loan{interest only] as a``credit`` footprint.

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