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House Price Crash Forum

juice05

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About juice05

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  1. Its gonna be led by down valuations - which we are seeing. If you are maxed out with 15/20% deposit, you cant buy im this market. BoE will be quick to open the tap and maintain fair rates so we wont see credit stresses on mortgage lending. This is something that we will see in the broader economy. I dont think banks will get too worried re lending from mortgages so long as yield curve remains flattish and boe is supportive. Remember that the plates gotta keep spinning when the broader economy is weak.
  2. This isnt down to lending this is down to the valuers not wanting to get sued. It was common place in 2008 and puts vendors in a realistic situation many weeks after accepting an initial offer. Very much a buyers market.
  3. I noticed that number of firms willing to lend over one million is signficantly down on what it was a few months bank. I can only find one bank that will lend that amount at 80% ltv. Even the young bankers are not gonna buy. You can borrow as loans from private banks but you pay 1% of notional for a broker to find deals in this size! So to recap: Prices not going up Stamp duty huge Gbp up so even the foreigners aren't buying. Usd much more attractive at these levels. Young individuals who may jump to a long term home due to significany stamp duty cant borrow enough People on the ladder ******** cant sell their property because nothings moving and they wont cut prices due to needing huge stamp duty. Im even coming across lots of probate sales where people are holding out for what they got their property valued for in 2014. Sounds like a normal market.
  4. 2 and fair value was probably 1.6 so I don't think the couple are being generous.
  5. Viewed a house last week. I was told the owner would take several hundred thousand pounds less (property has been on the mkt a year) but they didn't want to list the property for less as they didn't want to suggest there was anything wrong with the property! Wot?
  6. I can't contain myself "While most active buyers are adversely affected by uncertainty, it can in some cases be welcome news for homeowners. They can choose to hold on to their properties and wait for an attractive offer to come in or opt for the lettings market until further economic or, in the present case, political clarity develops." https://www.google.co.uk/amp/www.cityam.com/272814/opinion-can-we-learn-state-property-market-after-financial/amp Christ he works for foxtons!
  7. I can't contain myself "While most active buyers are adversely affected by uncertainty, it can in some cases be welcome news for homeowners. They can choose to hold on to their properties and wait for an attractive offer to come in or opt for the lettings market until further economic or, in the present case, political clarity develops." https://www.google.co.uk/amp/www.cityam.com/272814/opinion-can-we-learn-state-property-market-after-financial/amp
  8. Out of consensus view, I don't buy it. The risk is weaker pound, growing debt and rising inflation. They know this and if these risks get bigger, then they'll be hiking rates for all the wrong reasons....black Wednesday style.
  9. Offered on a place in Buckinghamshire on Monday, it's been on a year no offers, property next door has one less bedroom, one less acre and sold in 2015 for almost half the price! I went in 24% under, got rejected same day and now the estate agent won't even talk to us or show us other properties. Pathetic, I'm over offering in it too
  10. Mum's net is hilarious, should be a good one to watch "Can I join? We have found the house of our dreams in Devon so have just today put our London house on the market. The estate agent was very upbeat saying he will get us an asking price offer in a week as so few houses are on the market, but I have heard other local people really, really struggle to sell recently. What have other peoples' experiences been of selling in London recently?" Response "Good luck Currently, we're under offer in London (SW z2). I have to say we had the same spiel from our EA (we'll have you sold within 4 weeks!) but then 5 months later and 5 price drops we finally went under offer. I think initially we were absolutely over priced which is our own fault, we had an offer that the EA scoffed at and assured us was "ridiculously low" when in hindsight it was a higher offer that we ended up accepting. I would say ensure you are correctly priced, it is the most important thing you will do when going on the market. A house with a reasonable price tag when first on the market will sell quickly with the additional attraction of being new stock. London is tricky at the moment, prices are a little lower than 2 years ago, but if priced well will sell. The advantage also is that there are less people selling so with reduced stock means demand stays at usual levels. On the other hand people are less inclined to throw their money at houses with all of the political and Brexit uncertainty. Best of luck to you! "
  11. eurgh I'm on a slippery slope here please help me not become a mortgage to bank debt. I want to plot %reduction in asking price over time for an area (London, Surrey, Kent, buckinghamshire). Is there any way i can get that sort of info? I'm relatively dorky if I have to go down an API/R route.... will feedback findings to this group if somebody can point there in the correct direction thanks!
  12. Actually Actually telling people it will end soon is a way to kick people into 'making use' of htb which would spir up transactions. We saw this as the end of the last stamp duty holiday
  13. Gov issued statement saying this is incorrect and they gonna keep pumping
  14. Story doing it's round. Home building stocks down 4%. Unfortunately have to register to view which I can't do right now... "The government has embarked on a review of the Help to Buy housing scheme, which could result in it being wound down or replaced before its scheduled end in April 2021...." http://m.propertyweek.com/5090767.article?mobilesite=enabled
  15. If anyone wants a laugh pop down to your nearest Foxtons (Marylebone is a good example) and read the whiteboard behind their sales desk and then pop down a few weeks later. It has sections such as 'hot property', 'target commission pot', 'sales' and 'next company car' bucket very visibly on display. Now, if this was banking they'd be under review and many articles of disgust about greed but seems the world takes putty on them since 'hot property' section only seems to get longer and their Mini never becomes a Mercedes.
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