electrogear
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Posts posted by electrogear
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4 minutes ago, Senny Pijama said:
You've previously said "counted around 10 [for sale signs], when previously these would never come up for sale.". All I'm asking is for you to go to Rightmove and tell us how many have actually previously sold over the past few years. Then your anecdotal might become a factodotal.
I've never said that. I think you're talking about somebody else...
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3 hours ago, Senny Pijama said:
In the top menu of Rightmove, click on House Prices, then Sold House Prices and then enter the postcode you're interested in.
Alternatively, enter the same postcode into houseprices.io
You can also see some sales trends in Rightmove by clicking again on House Prices, and then selecting Market Trends.
Sales trends on Rightmove are not current. They're at least 4 months old and they're not going to give you any idea what is happening out there right now. The only data you're going to get right now is anecdotal. It won't become published data for 3-6 months and then the media will probably still latch onto variations in reports to provide an impression the market is not done yet. Some time after that reality will set in. IMO prices are already falling and there's been a sudden surge in properties available in the FTB and "second rung" sectors over the last couple of months.
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All I can say is take a look at property (newest listed) in Kingston Upon Hull. The results speak for themselves. Almost every listing includes one of the buzzwords for BTL:-
"ATTENTION LANDLORDS", "TENNANTED", "NO CHAIN", "ATTENTION INVESTORS" or evidently the properties are empty looking at the photos. It's got to be 90% BTL coming up now and that's not an exaggeration. There's also a noticeable drop in owner occupiers listing properties for sale which means nobody is moving, so more downward pressure on prices. There's very few larger homes for sale, but the market for 3 bed semis/terraced houses has gone nuts - a huge oversupply now and lots of price slashing. Presumably FTB are taking advantage of this and a few of them are selling but I doubt many budding amateur landlords are chomping at the bit now...
Have a look and see for yourself. It wasn't like this last year, or even 6 months ago. It all kicked off in the last few months and is still getting more and more intense...
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Same here in hull. Dozens of em coming up every day!
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23 hours ago, spyguy said:
Hull .... Knightsbridge of the North ...
No chance.
There's no windows at all down the side of the property, and look at the floorplans! All 4 of the front windows are in hallways/landings. The lounge and two of the bedrooms have openings at the back but the kitchens and bathrooms/WC must be completely void of daylight! Great design...
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"BUY THE BIGGEST YOU CAN AFFORD AND MAX YOURSELF OUT".
- Every adult who tries giving us advice on house-hunting and most of my friends who've recently bought...
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2 minutes ago, RentingForever said:
An almost literal definition of the landlord/tenant relationship :-)
Pahaha, brilliant! I should have noticed that one :-)
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2 hours ago, wsn03 said:
Ive just emptied my stuff out of my office landlord's garage (we were renting an office/ unit we had to leave so he stuck everything in his BTL garage).
I knocked on the BTL door to let the young people know i was moving my stuff.
The 4 young lads in that house watched me do 4 big car loads, including dragging 2 cabinets on my own. Not one of them offered a hand. Dumb, I'd have bought them dinner and a few tins if they had.
They were quite happy though to just gormlessly watch me through the window.
I'd have offered a hand. Wtf is wrong with kids these days?
I'm renting a place. Landlord is in his 70's, I'm 32 and he plans to eventually sell his £3/4M estate and retire to our property when we move out. The gardens were both a tip and the driveway very narrow and he was very keen when we first moved in to sort out this out so he had 8 ton of gravel delivered to sort out the front of the property. He knocked on the door for a general chat at 10am whilst he waited for his "team of workers" to turn up. At 10:30am they still hadn't arrived so I offered a hand and shifted about 2 ton of the gravel myself from the driveway to the front of the property whilst the landlord raked it in. Mid afternoon the "team" show up and started to help. I had my own wheelbarrow and they had 2 between them yet I reckon I still shifted more gravel than the 5 of them combined with 2 wheelbarrows. The landlord paid them all at the end of the day and then made some passing comment about them being useless. I didn't expect to be paid, but I didn't really get a heartfelt thanks either or a discount from the rent. He's since been back to do a fence which he's left half finished since October. He shows up now and again but I don't offer to help now although he gets the odd cup of tea. At the rate he's moving the fence and gardens might be ready by 2020...
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A lot of my colleagues earn 2-3 times the average salary and live champagne lifestyles but it's all for show - no common sense or planning for the future. It's nothing to do with fraud or drug dealing, just the fact they're spending 75% of their take home pay on cars, clothes and booze. I constantly hear them bragging about their latest Audi RS5s or BMW M4s, comparing what idiotic things they've done in them to piss off other road users. One guy has a CCTV system set up around his 2 bed semi with several cameras pointed at his driveway because he's on the border of a rough estate. He had enough equity to upgrade to a 3 bed in a nicer area but he remortgaged instead and bought his Mrs an Audi Q6 because they've just had a baby and he didn't want to think of her driving around in a 5 year old car whilst he was away...
I'm definitely in the minority at our place having owned 4 second hand cars in my working life (I'm 32) and paying for them in cash outright, never buying anything much over a month's salary. My latest car is a 7 year old MX5 which I paid 4K for having traded in a clapped out Citroen C4. 5-10% of the price of some of the lads cars at work!
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http://www.rightmove.co.uk/new-homes-for-sale/property-62903135.html
http://www.rightmove.co.uk/new-homes-for-sale/property-62903249.html
A builder bought this plot and squeezed two houses into the same size footprint as the other properties on the terrace. An average 3 bed with the same size footprint sells for about 140K in this area (a not very desirable location on a main road). The builder has put 2 loft bedrooms in each property and was asking 140K (for the one with a door in the middle of a bay window) & 130K (for the one with no downstairs front window) - 270K in total. They've now reduced both by 7.5K. I suspect they got consumed by greed and turned blind to the fact that nobody in their right mind is going to buy a house that looks like a generic bay fronted victorian style house but you only own half of it - the "door" half or the "window with a door in the middle" half...
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As ever, the media are focusing on the positive yearly figure rather than the negative monthly figure, stating "house price growth slows" rather than "house prices tanked since last month", but it feels a little more bearish than usual!
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Another anecdotal... 2 of the properties we were interested in back in October have had chains fall through, both EAs have stated it was "the buyer's fault" but wouldn't elaborate why...
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To be honest, I wasn't monitoring in Hull before now, but I've noticed an influx of ex BTL in the last week in the other areas I am monitoring on rightmove (cottingham/beverley/market weighton) which prompted me to look at a wider search area.
On another note, we have seen a property which needs completely renovating and I think we might go for it. It's at about half our budget which would leave us with enough money to extend and renovate it (add another bedroom & garage) and it's already big for a 2 bed at 1350 Square Foot with 0.25 acres. Bargain compared to what else is out there at the minute, but will take a lot of work and there's electrogear no. 3 on the way soon :/
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4 hours ago, Paul77 said:
How do you see these stats as I can't find them
I went through each listing and counted them up.
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Stats for the last week:-
REDUCED 40
NO CHAIN/SITTING TENNANTS 72
OWNER OCCUPIER 51
TOTAL 123Not sure how this compares to the week before, lost patience after trawling through all those listings! 58% are BTL.
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1 minute ago, interestrateripoff said:
Assuming no bank bailin haircut?
Yeah, don't be daft enough to have all of your savings in one place, would be my answer to that. Put your money in housing stocks! HA! (joke)
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2 hours ago, Shea VanHaven said:
To theorise. Let's say there is a sudden market glut, and prices do slide, then very very quickly we have neg.eq. locked in mortgagees (lovely for the banks- sitting ducks,) BUT- also, the finance corps become extremely cautious to lend high (ish) values against depreciating housing stock (exposure) to new customers/prospects, so people cannot buy even if they want to, and perhaps thought they would now be in a position to do so- again- WTAF will happen?
I and many others made huge sweeping predictions 10-12 years ago, and we were all left completely gobsmacked by the lack of a true crash, will it be the same again this time?
Banks tightening up their criteria should be good news for effective savers. I'm not talking about people who've just about scraped a 5% or 10% deposit together. If you're serious about buying at the right time and protecting yourself from negative equity then you should be looking at nothing less than a 20% deposit and if that means a lifestyle overhaul (a la frugal git) then so be it! We've saved up 25% at current prices and by the time a crash comes I reckon we'll be looking at anything upwards of a 40% deposit.
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Over 50% of properties this week have been "no chain" (even some of those that don't state it in the listing appear to be empty). Tells me that landlords are starting to flood the market. I've even seen this in the outlying villages where we're waiting to buy. Hopefully this increase in supply translates to a drastic lowering of prices...
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1 minute ago, GreenDevil said:
If idiots like rupa can make 86k there ain't much hope for the housing market...
She didn't make any money yet! She's only just convering the mortgage with the rent (£80/month left over). Factor in costs, repairs, tax, etc and she must be making a fairly hefty loss!
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2 minutes ago, juvenal said:
She said she was 'glad to be back at work'. Has she costed in the X months wages lost while she 'property managed' her renovation?
How can £75K projected profit enable you to retire at 55? Who is going to finance her up to the pension age of 67 (+)?
I don't think she'd actually thought about how much her yearly spend would be. The extent of her thought process was probably something along the lines of "75K is loads innit, I can have about 15 holidays with that".
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2 minutes ago, GreenDevil said:
I'm surprised she has a job at all! Where was her house, I missed it. Tried to sell it for an 86k profit, no takes, perhaps she should of priced it to sell. Idiot.
That's greed for ya! In what world is she living in, where a few months flouncing around, p*ssing people off and getting everyone else to do the work for you puts 86K in your back pocket? Nutter.
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5 minutes ago, GreenDevil said:
Difference between 340k and 285k ,is 75k.....
Yeah, and she's supposed to be "good with negotiation" as she does it for a job. I bet she makes so right cockups at work!
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Mary obviously didn't have a clue about property development but she does have her head screwed on. Out of the two I knew she would do OK.
Rupa tried to sell her house for 340K - (90K profit / 130K more than she bought it for!) and couldn't (surprise surprise) and is now paying for someone to live in the house! Hilarious.
Rightmove - Market trends data
in House prices and the economy
Posted
I think... sold trends were always lagging by 3 months but "marketed properties" trends were always there for the previous month. I was beginning to think I must've dreamt it so I'm glad it's not just me!