headmelter

Congratulations PP, welcome back. Good day out on the 'golf course' last week, we must do that again.

I think he'll play along initially and depending on the date for a GE he may not get the opportunity to do anything about it.

On the flip side you could buy a house for £20k and in 20 years it could be worth £10k you could sell it Have £10k worth of debt and still be homeless.

£30k and homeless.

Agreed "You gotta haggle."

My brother in law is a taxi driver who had an EA from Cookstown in his cab at the week end who is expecting a downturn. He said that the market had slowed considerably and that vendors were being very unrealistic about valuations expecting the recent growth to have continued and in some cases insisting on increasing the asking offer suggested by the EA.

Maybe they should put them on price drop TV.

I think my house is worth £3 mill ............it doesn't mean someone is going to give me £3 million for it.

Aww come on......................it comes WITH furniture.

Some of us made predictions back in January for a bit of fun. This is mine above. Sentiment seems to be changing so 5 months on I'm going to have to go with my second one as the first one seems goosed due to the crazy figures we've seen for Q1/Q2 of this year. Anyone else like to share their predictions?

Could be a canny move.

I just can't see that happening with the current boil the frog policy being used by the BoE. Ithink people will be gradually squeazed into submission. Before the current boom the population here didn't move round a lot, it's not a very big area after all. A lot more people will just stay put and ride out the storm. As we have seen inventory increase we could see it reduce just as quickly. The main ones at risk wil be those who bought at the peak ie the last 12 months and recent BTL'rs, but I still think we're a year away from a real price correction.

My missus had agreed to STR but only at the end of the summer, if the market hadn't collapsed by then. We revisited the topic recently and the reason we have decided against it is the little dears. In saying that I think we are teetering on the brink and although houses are still selling it has slowed dramatically. We are now preparing to stay put and keep our eyes open in case a bargain comes along. If the market collapses ie 50% there may be some bargains but I think there will be a healthy number of purchasers who are not prepared to buy in the current climate competeing for them. I plan to keep an eye on the Southern market as I think ours wll mimic it quite closely, and there haven't been massive drops there.........yet.

Prior to auction invest in an old fashioned chip pan, put your chips on and go down the shops to get your sausages.(ensuring your buildings and contents insurance is up to date before leaving) Old Belfast trick

borrowed to buy at 29. bought outright at 36. waiting on the bubble to burst to get bedrooms for all the kids.

If brains were dynamite this boy wouldn't have enough to blow his nose.

cue MI5 checking ISP address.

Agreed and it's always the same ones that get shafted. :angry:

This was also included in his reply. He actually didn't go with th EA who put th highest price on it but it was suggested he should get more than the asking price.

Anecdotal update. Recently posted that a colleague had put his house on the market. Nice residential area, recent detatched build on a reasonably large plot (2 good sized gardens). Three weeks down the line not one enquiry. EA phoned at the weekend and said he felt the reason there had been no interest was because there was no sign up and by not agreeing to having one erected was makng his job more difficult. My colleague was less than impressed to say the least and he told EA a sign wasn't going to sell his house and he thought paying him over £2k would incorporate more creative thinking than just putting a sign up. more to follow, Im sure.

Have to agree with most of this. All of my uncles lived at my grandmothers until they got married at around 25-27 years old and they all had to give her their 'keep' which amounted to about a third of their wages. I lived at home for about 4 years after getting my first job and also paid for the 'privelage'. I decided to reurn to college shortly after I rented my first flat and ended up spending quite a lot of time back at mums, particularly at dinner time.

If negative equity re-appears and repossessions increase substantially lodging may become very fashionable again.

"Another was with a woman who told me that her buy-to-let investment (which she considers her pension) was actually costing her a whopping £600 a month" Oh dear, there may be a lot of poor pensioners for a long time to come. Did none of these eejits do maths at school?

I wouldn't have paid it simply because I wouldn't have got a mortgage for that amount and even if I could have I don't think I would want to saddle myself with that amount of debt. Having lived in th SE of England for some time I may have been 'numbed' by ridiculously high prices and in comparison that is 'some gaff' for the money. Followina price correction I would maybe consider it to be well worth £300K.