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Buffer Bear

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About Buffer Bear

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  1. I've continued to follow the market and as we all know, it went nuts from about 2011/12 onwards in London but we couldn't initially get possession of the property. I don't recall if I posted this but we eventually got the tenant out and sold our second property for 1,100,000 (Heaver Estate - nearly doubled in value since the original valuation) - the proceeds were shared with the beneficiaries. The market was too overpriced by this time for us to buy even with a substantial deposit. We do plan to buy a house in cash (or a small mortgage over a short period) and this is not as crazy as it seems as we're not far off, although I concede we will move a few miles further out. We've lived a good life so far and have a good standard of living for a family of 4, without the stress of a high value mortgage around our neck and NO debt. I hope our good fortune continues...watch this space. added: with the tenant in situ with an assured tenancy, it was valued at around 580k.
  2. Now £549,970...A fall of 21%. The correction has started.
  3. Wow. Been away a long time. Here's some meaningful info. lol. Was on at 350k. Reduced to 320k (I think) and sold for 280k eventually in 2011. Nothing was shifting and most offers came in at just over 250k. Similiar houses are now on for 600k refurbished. Sold our second house for over 1.1m having been valued at 750k 3yrs earlier (2010ish). What a bounce. Still renting btw, long story. The potential loss related to the 2nd property, and didn't materialise in the end as noted above.
  4. Hello all, Over the approaching months, I hope to update you on the state of the south London market. Long story but will make it short in due course but it is not a happy situation currently and we are looking at a potential loss....
  5. My story is here: http://www.housepricecrash.co.uk/forum/index.php?showtopic=150366
  6. Oh the PS bashing thread has started again........Having only worked 11 hours today I am slacking.......yet am paid for 7.5 hours. I guess I am lucky to have a job?
  7. The mood seems to have changed over on: http://forums.moneysavingexpert.com/showthread.php?p=42800376&posted=1#post42800376
  8. *Correction: When we changed EA the price was reduced to 300k which is what I suggested before it was marketed.
  9. Having re-read your post, I couldn't stop smiling. How funny. I have posted my story and clearly upset Hamish! http://forums.moneysavingexpert.com/showthread.php?p=42768894&posted=1#post42768894 Thanks DB. Look forward to hearing about your progress.
  10. Anytime TB. The EA priced to get the instruction but my family could not accept this. We got lucky as the house was on the market for about 8 months and the highest offer made was 280k. We had about 3 offers at 250k and this was in the early months of the house being on the market. The house is more than livable just needs a new kitchen / bathroom and some tidying up. It is about 10 / 15 minutes from Tooting Junction BR. Based on peak price we sold about 7% under which is not bad at all......I'm waiting for much larger falls.....
  11. Original asking price was £350K!! I expressed my dissatisfaction to my family but had no influence as the EA thought it would "sell for 350k" despite the maximum price paid for any other 3 bedroom on the road had been 285k. Ours needed to be refurbished. After sometime, it was reduced to £325k, which is the best I could do :angry: Was getting very frustrated as we were chasing the market down......but no one would listen. This would have reduced the asking price to approximately 280k - 290k Having changed EA one influential family member would not reduce the price to 300k despite receiving tentative offers between 250k-280k. A couple of offers did not proceed due to mortgages being pulled or reduced at the last minute. The postcode is SW17 but is not Tooting proper. Apart from the house mentioned during my posts which was a 4 bedroom, the last three 3 b/r houses have sold for 295k (middle 2008) no work really needed, 285k end 2009 and 271k (needed work) also end 2009. Our final selling price was£277k. I think we have been very, very fortunate.....
  12. Whoop whoop. We have completed. Phew!
  13. We have exchanged contracts. Due to complete next week. Gonna hold by breath until then......
  14. Signed contracts. Fingers crossed.......until we exchange....I will then post selling price etc....For now it will suffice to say that we have got lucky....but it could all change....
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