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Orbital

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Posts posted by Orbital

  1. Saw the most jaw dropping barmy thing on my street via RightMove last week.

    A house in my street is on with an asking 150k above what I paid for mine in 2009! It's done up nicely, I'll give them that - but not 150k nice! If it sells I'm wacking mine on the market and buying a house mortgage free outside of London. But it won't sell. Will it? One on the road did go for 70k more than mine at the end of last year though - although to be fair that one had an extra bedroom (but hadn't been decorated since the 70s!).

    When will it all end...!

  2. Can't get too upset about it myself. I quite like the BBC and download enough iPlayer content onto my PMP at the start of the week to keep me entertained for the next 7 days.

    Its a shame these arguments (and there are many of them!) always centre around a couple of programs that TV snobs find easy to bash. Of course the BBC has plenty more to offer. It's always the same, someone mentions a genre that they do like and someone lists a rubbish program in that genre and therefore all their output is awful. It's like those people who think all music is rubbish but don't ever look beyond Radio 1.

    When I browse through iPlayer I often think of the people who claim they really can't find a couple of hours of good telly to watch each day and wonder just how uniterested in the world you have to be to really find nothing of interest. If your that picky perhaps TV isn't for you ;)!

    My company had a threatening letter about watching TV on Pc when I rang and queried this the answer was you are guilty until you can prove innocence.....sooner the licence fee is abolished the better...plus we will lose a raft of self serving bureaucrats.

    Reminds me of an ex-work colleague who didn't have a TV yet got hassled so much he caved in and bought a license for a quiet life! Definitely needs to be fixed.

    But personally I'd support fixing a broken system rather than getting rid of it. Be careful what you wish for...

  3. You are looking for a "25 year fixed rate mortgage". You will have a contract, and will have to pay back only at the pre-set rate. End of.

    If you want extra reassurance get a good specialist lawyer to check the contract and you will be fine. It is a fixed rate.

    Purely out of interest, as I suspect this is what people really care about when saying reputable, what if the company goes bust? Is the administrator obliged to honour the contract? And, be honest, is your answer based on a sound knowledge of contract law (are you a lawyer) or does it just seem to make sense? ie if you asked me I would say the contract would be honoured but this is just based on general knowledge and not a sound legal background.

    Ta.

  4. I must have misunderstood because it seems to obvious too me?

    I'll post on the off chance that I haven't!

    When I sold my place the vendor requested that the agent ceased marketing it immediately, we were happy to agree as we had a cash buyer (the lady did well from her divorce!). The next day they removed the board outside the house, it came off the internet (having only been there for a day!) - I never saw the house in the agents window.

    So here's a crazy thought - were the houses sold?

    That said, a house on our street we had been tracking since it went on a few months ago (it's overpriced - our neighbours house has completed since this other one was listed!!) disappeared for a week and then came on again. Who knows why? We know it was bought by a developer and renovated but I think they paid too much, spent a load on it and can't reduce the price as they'll make a loss. Shame cos I actually don't begrudge developers who do up otherwise run down houses - we need more of that.

  5. Who in their right mind buys a property today at asking price

    The person who wanted the house more than you? If that person hadn't bid more they wouldn't have got that house. We can sit around and pretend houses are worth 50% of their value all we want but it don't mean nothing if no one else thinks this!

    I remember when selling my place, someone told me that my house wasn't worth the asking price. So I said fine, you go buy one of the other houses in the area which were indeed on for less. And the chap said we don't want to we like your one. Well call me selfish but I'm gonna go with the lady who is prepared to pay the asking price...

    Supply and demand innit.

  6. Yeah buying, moving, renting etc is a total nightmare. I always snigger to myself when renters say "I'll just move" - yeah, it's that easy!

    About time we had some reform, everything from a graduated stamp duty to a useful HIP (I liked the idea, it's rediculous everyone having to commission their own survey. I wonder if some houses end up getting surveyed many many times before they are sold? That's efficient!).

    Best of luck with it all. I'm glad I (hopefully) never have to move again.

  7. I drive a Mazda 6 and have decided to cut my consumption by 50% by walking more and planning shopping trips to coincide with business related trips! My little bit to make sure the government get less tax as a result of their greed.

    Erm... if the governments goal is to cut road usage then it seems to working. With finite resources in the world the earlier we reduce our oil depedency the better. I'd rather do it now through steady tax rises than be forced into the situation by demands on external oil imports. If other countries can do it why can't we? Regardless of opinion on environmental issues being independent of oil seems a worthwhile goal.

    I never get the argument that governments raise taxes because of their own greed. You do realise that taxes are then spent on stuff like hospitals and infrastructure etc. This money doesn't go into MPs bank accounts (or enable additional expense claims ;)!). Isn't it the opposite? Higher taxes make them less popular and more likely to lose their job come next election? Or am I missing something :)!

  8. I am always amazed that people get chased out with higher rents.

    There is a shop near where I work that closed after rent increases (according to the note in their window). It has now been empty for 14 months. If/when they get a new tennant it will take tens of years to make that fallow period up surely?

    I would agree that keeping hte place occupied should be a priority! Sure the odd rise is needed but just keep it a few percent to allow for inflation.

  9. Brother: Bought house end-2004, waited for recent 2010/2011 house price bounce/peak to upsize

    Me: wanted to buy 2001, no help, student loans and car finance too much so decided against it as money would have been tight, compounded by utter utter patronising discouragement from family (including brother)

    this is just house price bubble mentality personified, chasing the herd - the losses of family wealth are buttock-squelching, little IQ behind the decisions

    May aswell share mine:

    Brother: Bought in 2001. Just accepted an offer and will be banking considerable profits before renting with his American gf in NY.

    Me: Bought in 2005, sold for a profit in 2010, bought a great family house in nice area. Enjoyed low interest rates and overpaid massively in the last few years - all on a pretty average wage. Just hit 30 and will be mortgage free in my forties.

    Parents: Rejected an offer for almost 20x 1980's purchase price. Decided to keep the big family town house so they can host family get togethers, grand kids, etc. Will this make them less wealthy after a possible HPC? Sure. But so what. Cashing in on record HPI would just be greedy and we're different here at HPC aren't we! Actually it's probably thier moral obligation not to sell (at that price) ;)!

    Maybe I would be more wealthy if I played a different hand? Who knows? Who cares. We're not greedy like those BTL dudes are we!! Are we? House? Check. Family? Check. Mortgage free and financial independence on the way? Check.

    I have nothing against those that decided to wait and I really hope it works out for you. Personally I didn't want to spend the best years of my life waiting to settle down. And if settling down isn't your thing then why ever buy a house!

    Don't get me wrong, im not pro high house prices and want them to come down, I just can't agree that buying is such a bad mistake. If you like it and can afford it then surely we're all just 25 yrs from being mortgage free? And for those who enjoyed historically low interest rates and used that to overpay it'll be even sooner :):)!

    Good luck to you and your family :)

  10. As a long term reader of HPC I do remember many stating that there was a risk the government would covertly "solve" the house price problem through inflation. Inflate those debts away! This isn't my take - I'm just recalling this was often raised as a possability, an HPC prediction coming true if you like.

    My grand parents bought their house for 5k! If they still had a mortgage on it I'd pay it off myself!

    I think saying "inflation is bad" is too simplistic. Deflation or stagnation aint a bed of roses either. So clearly there is a balance- and we are a little way from hyper inflation just yet. Come on peeps we don't like bias of any kind here at HPC and that includes sensationalism. But I can see why the idea has non-home owners concerned. Whilst we are all screwed in that scenario, at least a home owner is screwed and has a roof over their head!

  11. Seems a very sensible campaign to me.

    Infact I firmly believe my financial education and upbringing is the reason I got to buy a family house before I was 30 without parental support or a massive wage. Saved hard from an early age and spent very very carefully.

    Unbelivably some people still think that my attitude is a bit weird or that I'm wrong to live like this. Funny isn't it?! Work and save and buy a house that's the way it's supposed to work? And that's what I did.

    Good luck to Martin.

  12. HMV has been doomed for years. Even in the '90s I didn't understand why anyone shopped there, as the prices were far too high.

    In the internet era, I'm amazed that HMV has survived as long as it has.

    Like Blockbuster, this isn't indicative of the wider economy, merely just an outdated business model.

    Exactly. They failed to adapt. Shame really cos they were so well placed to lead the new era.

    I like a good browse in a music shop, but I go to an independent store that makes monthly album picks, has listening stations, provides reviews and descriptions on every album, has exclusive bonus CDs. Not the cheapest (albums are 9.99) but I rarely see people leaving empty handed and I'd rather walk away with something than get it online for 1or 2 £ cheaper.

    My local HMV just seems to have chart CDs/DVDs and a massive section devoted to selling XBOX games, iPods and accessories. The diversification seemed to result in a far less attractive music shopping experience? They offer very little over and above a big ASDA etc.

    The 'beauty of an album'?

    Christ on a stick, man; these aren't the days of Yes or King Crimson any more (or even Guns 'n' Roses); albums are mostly just compilations of poorly done covers and derivative crap. Why pay for twelve tracks of filler to get the one you're after?

    I think this is totally true for chart pop. But for those of us who look outside Radio 1s playlist there is some fantastic stuff out there right now. I hear a lot of people say things like "albums are mostly just compilations of poorly done covers and derivative crap" and then list off a bunch of artists being pushed on TV and popular media. Come on I thought HPC readers where more refined than the average sheep?! ;)!

    Looking for a quality compilation? This is the last album I bought. And will be using the rich diversity to inspire further choices too :)

    Get yourself down to an independent store that is proud not to stock anything played on radio 1 and ask them about the up and coming talent. Just because you haven't heard it doesn't mean it doesn't exist.

  13. Todays program summed up just about everything that's wrong in this country. The sheer denial on both their faces and the arrogance when told that their £800k home was worth around £325k - £400k was astounding. Also, the fact that they wouldn't get tax credits in New Zealand like they do here in the UK beautifully demonstrated their sense of entitlement.

    Spending £110k on a house in 2001 and then find some sucker to buy it off them for £800k netting them well over half a million £, un-taxed, for doing the square root of [email protected]*k all.

    Vile. dry.gif

    Popped by HPC this morning to see if anyone mentioned this episode. Wow.

    Would love to see a follow up in 10 years time!

  14. My take on it, is that generally detached houses are the more expensive, and therefore more likely to be bought by existing home owners, heavy with equity trading amongst themselves.. the entrant level houses living in the real world are all down.

    To me, it's only people trading among themselves at the top end that's keeping the figures positive and the VIs with something to talk about.

    Could be. Although as someone who spent time looking for a larger family home in the SE I noticed they were much rarer. Scarcity of course has an impact on any market regardless of our opinions on over valuation.

    I think we all noticed the boom in flat building in recent years but that wasn't matched by similar building of detached (or was it?). And don't forget there are still plenty of people around with plenty of money - as people delight in pointing out, we aren't really all in this together! The people with money are always going to be chasing the "better" housing.

    I feel sorry for people who did buy those new build flats. You lose that "new" premium straight away, add in falling prices, and you will easily get trapped. As a larger house owner I understand the risk of negative equity but getting trapped in a family house you plan to stay in for 20 years doesn't seem so bad! Besides only another 15 years to pay off - groan :(!

  15. It seems mostly pointless to recount anecdotes as, if my education serves me correctly ;), we'll tend to pick ones that support our arguments and ignore those that don't.

    My best mate went to a private school, came out with a single D. Bright guy by all accounts - thankfully went on to do good things despite the 1000s his folks "wasted". My Mrs went to a comp sat on the edge a council estate and came out with 4 As at A-level and went on to get a 1st. We all have a story to tell...

    Core education is foreign language, grammar, maths and physics, that is what you need in life.

    You might be right but this talk really struck a chord with me

    The point around how our education system hasn't really moved on from Victorian times was particularly interesting. We still value the subjects that were important 100 years ago despite decades of change. It just seems counter intuitive to me to think that we shouldn't have progressed in this time.

    I appreciate that HPC is generally against the Arts but if we have a society that can support musicians, poets, writers, sportsmen etc then I think this is a good thing - we simply don't need generations of clerks anymore, we seem to accept that we don't all have to farm our own food yet we still don't seem to be over the problems that were solved decades ago.

    My job involves very complicated mathamatics - but that's what my PC is for. The computer frees me up to do more creative things in the same way that tractors and irrigation freed our ancestors from toiling the land.

    It's time to move on!

  16. I think it is easy to say that prices are inflated in "our opinion" but the reality is it isn't "our opinion" that matters!

    I moved to Sutton in 2010 and my problem was the lack of decent properties on the market. I tracked Right Move for months and very little seemed to come on and it was all dross. The places I did see were rubbish and coming from a cheaper area (Croydon) it felt like I was spending much more and getting much less.

    I ended up on the West side of Sutton in a great period proerty on a quiet leafy street, we got the place by getting to know local agents, and really pushing to get early viewings on the good places. A casual observation I made was that very few good places ever hit the Internet so it's no wonder that the arm chair HPC reader gets a skewed outlook - they only see the rubbish places on there that don't sell and one ends up with a biased belief that all property is overpriced. Anyways I'm sure that doesn't describe you.

    Anyway the hard work paid off when I bought a house from someone emigrating to the middle east and needed someone to buy asap. The very cheeky 1st offer was accepted (to my genuine suprise!) - I guess we were the only people who were in a position to do a quick sale? Who knows.

    Personally I think Sutton goes a little down hill the further East you go, the train certainly gets more and more impossible to get on (hope you aren't a commuter!). But in general I think the area is great. Love cycling over to non-such, Sutton is my kind of shopping centre - smaller and more manageble than Croydon/Kingston. Surrey downs accessible, safe area, good connections, top performing LEA, good range of property, family firendly. Having lived in Kingston, Croydon and Sutton the latter is my fave borough to I hope you find the right house for you :)

    Best of luck!

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