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House Price Crash Forum

janch

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Everything posted by janch

  1. "Portfolio offload" http://www.rightmove.co.uk/property-for-sale/property-62599048.html EA not mincing his words............ Wonder if it's our friend Roz.....could be as it's her neck of the woods
  2. I was warned about this by a solicitor recently and they sent their bank details by post and warned they would never send them by e-mail. Any money they needed they asked me to take directly to their office by cash or cheque and when there was a large amount I went into my bank to arrange the transfer. Most solicitors are aware of this scam which has been around for a while and are warning their clients.
  3. Looking at some of the figures they came up with for various postcodes I too concluded they must be based on small volumes (not statistically significant??) as they don't seem to match my experience and this was for various postcodes of friends and relatives in SE England and Wales. All I know is that prices have risen everywhere I've looked (faster than inflation) and now I can only afford a flat whereas in 2007 I could afford a 3-bed house in the same town. As for the SE I am completely priced out. At one time I could have just about afforded a flat. Also 2007 was at the peak in most areas and we had quite a correction (crash) from 2008 until they stopped it by making mortgages easier to get so it's daft to compare with prices from 2007. I think it's propaganda too (along with CoN) to make all those who can't afford to buy feel better about it.
  4. He will end up "chasing the market down" if he really wants to sell..........
  5. In the places I follow in the SE, this week has seen a lot of falls. Every week in several locations I search for properties added in the past 7 days on RM. This brings up properties new to the market and those properties which have been reduced in the past 7 days. I do a manual count and eliminate any properties on more than once (including those pesky "reduced price for under 60s" places). I am routinely getting 50% reductions in certain towns in the SE and this week a 66% reduction in a small town in Herts. It's happening folks and spreading out from Londinium NB Some properties say "marketed by" which I take as a euphemism for "reduced"
  6. It's time for a re-set..........assets should be taxed more and employment taxes lowered. I've thought this for a long time. Maybe I'm turning socialist even though I've never voted for them all my life.
  7. It sounds like an HMO to me as you all have lockable rooms and separate contracts. I don't know the legal situation.
  8. Considering the announcement in the last 24 hrs of an increase in HTB then I would go ahead. The Tories obviously have no intention of allowing any kind of decent crash.......sadly
  9. http://www.zerohedge.com/news/2017-09-19/where-next-financial-crisis-will-come This seems very relevant to this thread
  10. Obscene house prices do my nut because...... .........it's morally wrong that people with children can't access the housing they need with reasonable number size of rooms and a decent sized garden while there are plenty of oldies hogging large 4 bed houses with big gardens which they can't manage and won't (can't?) downsize.
  11. What happened to fees for renting........are they to be abolished or not? Everything seems to have gone rather quiet on this recently. If the fees were removed it would make quite a bit of difference as the upfront costs of moving from one rental to another are extortionate.
  12. There seem to be certain areas which must be BTL territory. Have a look at Sandhurst in Berkshire. There is a glut of 2/3 bed terraces up for sale and has been for a while. Last time I looked the cheapest 2 bed was £275K and that is less than was usual until recently. Someone will break ranks soon and we just need that one person to start an avalanche to the bottom Pity I have no intention of living there but it's interesting to watch.
  13. I've just bought a property for cash but that's because I decided to downsize rather than "sell to rent". I think we're on the edge of the HPC cliff but I still don't want to rent if I can help it so would prefer to lose a bit but if prices go down by x% then I would prefer to lose as little as possible and x% of £100K is much less than x% of £1,000,000K (ha, ha I wish) Whether we like it or not housing has become another asset class and I was "overexposed". My "portfolio" is now more balanced towards cash.
  14. I noticed it in the last "crash" in 2008 and I think what was happening was that one branch of the same agency was closing and another was taking on all their properties so some were "sold". If it's one branch closing then there would likely be an increase of about 40+ properties on the books of the second agent all at once. The 2 agents were likely to be in 2 different towns.
  15. I've seen a few around on people's drives and they are being lived in for at least some of the year. I've also seen a car with duvet in the back and person asleep parked in a residential street and it has been there for some time. It's a sign of the times and no council tax to pay
  16. + 100%.........I left employment in a succession of s*** jobs 10 years ago and would rather be poor and happy with time and my own company than have to interact with the vacuous souls I met there. Luckily I can afford to live (just about) on the state pension.
  17. No-one in their right mind wants to live in Bracknell anyway so they're being saved from themselves and should be grateful they can't afford them
  18. Sometimes the earlier photos are on the page with the sold info and sometimes they seem to use the new ones.....don't know why. Often the same property is listed twice with the "real" price and then at a discounted price for over 60s by a specialist company who do this as a type of "equity release" type thing. If you look on the sold price page, often it has a link which says "this house is currently on the market" and that will take you to the page where it's for sale now at the undiscounted price. Hope this helps (the over 60's discount thingy sure is annoying and confusing)
  19. On the front page of Rightmove go to "sold prices" then search by street name/postcode. It gives sold prices back to 1995 and is very useful.
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