Sure thing!
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Posts posted by Sure thing!
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I think you're right. Probably a lot of buyers who have been waiting since 2007. Makes it easy for EAs to sell when so little supply in these areas and general consensus is crash over, come on in the waters lovely....
Think ill wait for a while yet. I'm still net bear.
Seeing the same here, lower end of market is selling well and at the middle upper end theres stuff selling but mostly just the good or the cheap but it was completely stagnant until this year.
Guessing a lot of people that have been hanging fire may be thinking the worst is over and getting on with life with a limited downside vs "get in its going to the moon" thinking. If there is a significant crowd that have been sitting on their hands for a few years years building up decent deposits, what happens when they have all bought
Still waiting on the right house and expected to buy this year, just not seen the one..
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Likely going to have to rent but if your buyers are going co-ownership it will likely take quite a bit longer to complete than a normal buyer so might be worthwhile putting a few "what the hell" offers in on some places you like that are overpriced seeing as you will be able to sort things out quicker and you never know
Our buyers took 6 months from offer using co-ownership and like you we had nowhere to go (thought house would take a while to sell, agreed within a week), tried a few low offers in but no bites so eventually had to rent.
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There's been a noticable drop in detached houses coming up for sale this past few months around me as mentioned earlier. Two agents have said that the first 6 months were very busy compared to previous years but theres very few new instructions coming in now. Did have another agent tell me that prices were rising and to buy now while I still can, was a bit of a time warp moment.
One new thing is the steady drip of "ATTRACTIVELY PRICED PROPERTY" with a certain agency that have some of the worst photos possible and are not remotely attractive, not sure what these people are thinking.
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A colleague told me the other week she was buying a semi detached house in Belfast. Paying 30K above RV. Part funded by bank of you know who. No other bidders in for the house....crazy..
Sold our semi this year for a good bit over RV and asking price to co-ownership people with everyone happy to pay over the odds, surprised me and I'd was expecting less but then I wear brown tinted HPC glasses.
Larger houses we've been looking at are going sale agreed over RV shortly after they come on and our offers just under RV are getting instantly turned down with one seller telling the EA she was offended by an RV-12% offer and is now complaining about tyre kickers, of course the EA then asks for a better offer now I've been told off...
Fun and games!
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I see you took this quite thick after all. nevermind. carry on!
Funny that when you get asked a question that's effectively a "you are not welcome here" statement.
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Don't take the above post the wrong way 'Sure Thing'. You are very welcome to post in this Forum.
Yeah I'm fine with it, been here longer than 2009 blow ins
What am I doing here? Discussing the current situation regarding housing in NI and in this instance how I've personally muddled through with what someone commented was a high percentage of income spent on a mortgage.
I'm not espousing what I said as support for buying at any price or taking a stupid risk just trying to say that depending on the circumstances it sometimes makes sense to just get on with your life. In addition to the paying it off, I recently sold it (yes, I sold a house!) for less after inflation than I bought it for over 10 years previously and it needed significant money spent on it at that time too, does that make you feel better or allow me to fit in here as it is more on message?
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Good for you. Care to share how you managed to pay off your mortgage in 10 years?????.....
That's the circumstances and where you are in life bit, was 21 and salary doubled in that time, was also living by myself for most of the time and although I didn't scrimp I mostly carried on living as if I was on the original salary and saved the rest. Then when did get married it was to another saver, job done.
That said it's not going to happen this time about, don't expect the salary will ever increase again, kids etc
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Welcome and enjoy your new home.
Don't know how comfortable I would be personally at 25% take home on just the mortgage with rates at 0.5% but each to their own.
My rent is about 12% of take home and I make a few quid a month on savings interest. I'm happy enough.
Going to 27% on the next mortgage from nothing, scary biccys
Long fixed biccys of course..Really depends what your circumstances are and where you are in life, in 2002 I took out a 102.5% mortgage consuming 30% of take home, and while that'll make people recoil in horror it was almost prudent at the time! The mortgage advisor said i was crazy for not taking the maximum which I think was nearly half of take home "Everyone else does it!"
Just over 10 years later the entire thing was paid off, time to do it all over again
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Havnt read the report
. This is the first tine, that I can remember since the crash that not one of the RICS members are reporting falls.
Correctly priced houses are selling and quickly at that. The overpriced crud might make it look like nothings selling but then they are not really for sale, if something piques my interest it generally goes sale agreed within a couple of weeks and they are not coming back for sale in the same way as they might have done in the past few years. Two places I dragged heels on recently went before I even had the chance to see them. Based on this it's not surprising they think things are looking better, just wish they would spread the message better as still far too much delision in the resale of decent detached houses but the few correctly priced ones do sell.
I said in a comment a while back that the new government interferance may make 2013 the bottom and I'm almost at the point of nailing my colours to the mast on this
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Richard McCulloch, an estate agent at Stanley Best in Magherafelt, said investors were driving activity at the lower end of the market in his area but added: "Once you go above the first time buyer side, the market is static. People are not moving and there are no signs of recovery."
And one of the main reasons there's first time buyer non-investor activity is co-ownership, that's a crutch the levels above don't have so realistically these should be at a discount to make up for the lack of financial "assistance" but they still want premium pricing.
Everyone I'm viewing houses with keeps harping on about the market being terrible but from what I can see there's a perfectly functional market that takes well priced houses straight away, the only market problem higher up is the sellers unrealistic expectations and unwillingness to find the market.
Another interesting one is that all but one downsizing pensioner case every single house I've viewed in the past 4 months (all overpriced) is wanting to rent after sale, screams they have no confidence in their prices and are wanting to try and cash out if they can just find that fool.
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Realistic prices see a sale in 6 to 8 weeks is my assessment of the market.
I would agree there, we had an offer within a day and agreed the following week.
An estate agent last week tried to tell me that the smaller houses were moving well and this activity will now filter through to the higher priced houses so hes not recommending they reduce prices despite nothing selling. I just smiled as lifes too short to argue with that sort of thinking but with people being told crap like that it's no wonder theres so many unrealistic prices.
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Enjoy the new home
... and another ones gone...
Congratulations!
Are there any of the old bears left?
I sold the other month and am renting awaiting something appearing which will hopefully be soon. The houses I'm interested in around RV are not hanging around any time at all though, people really are pouncing as soon as a decent one enters that range. At least I'm in a position to act quickly now too :|
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What's so special about 2013 - we're a quarter gone already and I'm not feeling any 'housing love'.
Will see what happens in 2014 when people realise that houses are available with no real deposit if this is adopted as outlined.
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More debt. Back on the crack. Ever fear for your kids?
I'm worried about a closing window to buy before everyone piles in with tiny deposits supporting or god forbid raising prices. Only hopes are for the details to limit damage, complete u turn, banks being sensible which might limit the damage a bit or people here using their heads given whats happened the last couple of years.
2013, the bottom until next time?
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I'm sure many who bought in the past 10 yrs or so wished they had given it more thought.
10 years is surely about 1/3rd of the period where most people would be buying a home/moving to a second 25-55. A lot can change in that time. I'm sure a lot of the early HPC days STR lot from London and the South East wished 10 years ago they hadn't given it as much thought
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There are about 6 part build semis fronting on to north road with their boards up. Looks like industrial land behind where te back gardens would be. There is major building going on te other side f the road though.
They were finished years back and at least one was lived in, then the lights went dark and then this: http://news.bbc.co.uk/1/hi/northern_ireland/7778230.stm
Now tiles missing holes in roof etc, was better when there was a handy car wash there while passing through
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There's a lot of people saying this will ruin them when it's rising to a rate that's likely still under or around what it was when they took the mortgage out. Small scale zombie killer event?
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Hi All,
Wondered if anyone's noticed tracking local houses they are interested in the amount of times a previously sale agreed house goes back to "for sale" at the same time as a similar but better house in the same street/area going "sale agreed" right after a reduction or entering with a better price?
I thought it was just coincidence the first time I noticed it but thats twice in a month I've seen this and the new instance is the same agent selling for both houses (I want to swap this one for this one please!)
I'm guessing this might be "fighting" over a single buyer by lowering prices? Can only be good for public HPI reeducation if so
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CML estimates 35% of NI households in Negative equity.
Could it be more? Presumably it's growing by the week.
Negative equity plagues homeowners
Council of Mortgage Lenders estimates there are 719,000 households with mortgages worth more than the property
http://www.guardian.co.uk/money/2013/feb/02/negative-equity-plagues-homeowners
Worst hit is Northern Ireland, which hitched a ride on the Celtic Tiger but has come down with a painful bump. It is estimated that around one in three households in the province is in negative equity.
If true that's a gobsmacking number, zombie nation..
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So despite evidence to the contrary, local salesman John Minnis refuses to accept facts and decides to talk ******.
Didn't read it to see where he thinks it has bottomed out but maybe it is in reference to this in which case I'd say half RV is a fine bottoming out point
"Certainly in the areas in which our sales are focused we definitely have not experienced anything like an eight per cent decline."
I guess he is right, that is nothing at all like 8%
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Well I'll stick my neck out.
1. House prices down by at least another 10% by the end of the year.
2. Estate agents start to close outlying branches
3.Rents stay much the same as this year.
4. More trolls will join the forum in their spare time from their day job to tell us that there has never been a better time to buy.
5.I might buy if I see value in the middle market.
Sining from the same hymn sheet. 5. has to be done here so hoping value is to be had and people wise up a bit, going to start putting offers in early new year. I'm always whinging about middle market but then thats my main problem here and time's running out.
On 4. In some locations and housing types I'd say without a wider UK crash buying now will not cause any harm and could even be a good idea. Awaiting bricks for being the first troll
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Wow slide 6 is eye opening especially about the mover uppers.
Given the asking prices of them it's understandable, but 1974 though gee.
Remortgages in 55 are interesting, they went from being way over and continuing high after peak to dropping under. Combination of things there I imagine, people on good deals not moving, peoplenot using house as a cash machine and those unable to get another deal even if wanted to.
If you sign up and click save it will email you a link to the pdf after a while.
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I'm going to be buying in the first 6 months of next year so my purchase of one of the sticky middle market houses that are not dropping will likely skew figures enough to slow the slide as mentioned, blame it on me if it happens
Being forced in to this move against my better judgement but run out of room in this place, hoping a repo or repo avoidance saves us in time
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Is this on Rightmove or Property News?
Have you checked the 'Styles' and 'Filters' options to see if anyone has changed your settings?
On propertynews.com, filters has everything selected and changing the styles makes no difference to the appearance of the propertybee insert that used to appear in every listing on the search results.
I imagine something changed on the search results thats causing a problem (unless its just me) as it still shows the propertybee changes in every property listed on entries saved in my favourites list in the same way it used to.
Predictions For 2013 For Northern Ireland Housing.
in Northern Ireland
Posted
Might as well reply to myself! Happy enough with saying buying some areas/types of houses wouldn't be a bad idea, had we sold our house later this year we would certainly have received more. Without the withdrawal of co-ownership theres going to be no lack of people at that level, all our offers were from people having to use it.
Just as last year the houses I'm interested in are mostly not selling. Did put some offers in and despite being told they would never reduce the price they have all come back trying lower prices, none have changed their asking prices though.
Renting isn't so bad though, had some expensive repairs here and they didn't cost me a penny