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House Price Crash Forum


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About doctor_boost

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  1. Predominately the problem with the “older” baby boomer generation in this part of the country (north east England), is the fact during the last house price correction no-one really felt any pain. Repossession were something that happened to overstretched soft southern folk. These people felt no pain because BLT was simply unheard of back in the early ’90s, people who rented out property were regarded as lords of the manor – landlords with diverse portfolios, money to spread about etc. If the “olds” had re-mortgaged the families home in 1990 to invest in a BTL they would have felt really pain, rents yeilds were low and RPI high in 90/91, from 1990-2001 you would have seen virtually zero capital appreciation of your BTL. Basically as an investment in real terms taking into account net present value, a disastrous investment. But no-one felt the pain, there house (typically the family home) simply didn't appreciate in valve for 10 years, the mortgage was affordable compare to wages – no big deal. Q. House Prices in the North East only go up? A. Nope
  2. there website results show 38 out of 100 sold, which i can confirm is not 100% correct as i know the guy selling the house that "made" £215K in cramlington. It was sold prior to auction. i have used keith pattinson to sell my last 2 investment properties as they seem to be the best of a bad bunch, but this proves you can't trust any of there stats....
  3. just done my btl flat i sold 6 month back............ website valuation average £60k i got £71 for it .............. so a bit the other way on that one.
  4. I 100% agree with Drbubb on this one. This country has way to many "do good'ers" supporting this "I am entitled" metality........... hence some of the nonsense replies to this original post
  5. interesting link. i got a sale going through right now for 101K their averaqe valuation is 230k, fair old bit over the top. the only sure way is to get details from nethouseprices.com then wander your local streets with a note pad noting the type of houses sold.....
  6. hi, have reeds rains given you a realistic valuation, or just pitched a figure of your expectaions to get the work? hows your property priced vers similar properties in the area that have sold since late 2004 ( see www.nethouseprices.com ) i have been through several EA due to 2 property sales, think I have found the best of a bad bunch. but still wouldnt trust them with with a paper round good luck fella......
  7. yup, this is good point. but why should the council discount? market value is more revenue for the "strugling" council maintance fund in my book.
  8. And we wonder why we have the biggest fly tipping problem in europe! its so bloody difficult to get ride of waste. was told at my local tip i needed a permit to use my transit van to tip what was clearly house hold junk/waste....... so 6 trips later and 8 gallon of fuel later my impreza was finished for the day full of more dust than normall. red tape......
  9. this really hacks me off, they say the council can't afford to maintain council house so sell off, but why below market value - why?. sell of less houses AT market value then plow the profit into keeping the counicl house stock going for the people in the area that need it. i remeber selling a double glazing to a guy who was complaining he got the house for £34K when the famliy over the road only paid £28k 6 months back - i would say market value of the property was £70-£80K :angry:
  10. yup stupid people sums it up. why do banks target to lend money to these stupid people? all about manager making there target profit in 12 AP's but it all going to come home to roost in the long term when these muppets go bankrupt and the banks get zip.............
  11. Maybe it was repossessed??? BTL went tits up so pull the kitchen before mortgage repo?
  12. Hi Folks, Read loads on this site over the last 10 month, sites great with some very good debate. Quick intro, I am 30 live up north just past Newcastle Upon Tyne, I run my own business in the car trade, importing sports cars from japan and selling bits to make road cars and race cars goes a little quicker. I used to own/run a small double glazzing firm which i wraped up mainly due to the fact I could see that the building boom was doomed to coming to an end, people were pulling money out of their houses to fund extensions, holidays, double glazing/consevatories with little or no thought to paying it all back! Anyway, I had a BTL flat I bought back in sept 2003, as there was a fire damaged flat in the street and I got a good deal (I didnt expect nor anicipate the apprecation in captial value, at the time i thought most property in my area was over valued – I just looked at is as £425 per month is a good yield on 50K). I opted to sell this BTL in early 2005 way before i found this site. Why did I decide to sell? I was alarmed by friends of friends with no idea pileing into BTL on the promise “property allways go up” First post done
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