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House Price Crash Forum


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Everything posted by babnye

  1. Anyone still watching the Salisbury market? It is the worst I have ever seen it in terms of the quality of property coming on. Sadly, there has also clearly been a rise in prices. Tat that wouldn't go for 230 last year is being put on and snapped up for over 270. Very depressing.
  2. We put an offer in on a house which was accepted. Two agents were involved. The other agent (quite unscrupulously as he has a client wanting to buy too) rang today and told us that the vendor owes more money to the building society than he will get from the sale and that he has to ask permission to sell. He says 'they have been to court about it'. The estate agent we are dealing with has confirmed the vendors have to get authority and that they need to confirm that the lenders will pay their solicitors fees. This sounds like a possession order has been asked for and that this may be a mortgagee sale. Perhaps, as he alreday had the property on the market and has a buyer, they have let him proceed This is an old couple. The property has been on the market for a while and then suddenly dropped massively in price. The husband is very ill and hasn't worked. What are the difficulties with buying from someone in this situation?
  3. Lovely house - personally, I'd need a garage for storing the kids junk! I'd be worried about the flood risk too. It is beautifully presented.
  4. I have seen that (price drop) house. Massive garden but on a very steep hill and a tiny third bedroom. Still, a year or so ago, it still would have sold. They must be desperate if they are instructing Connells who are completely dreadful. The Feversham rd house is a joke. The market is all over the place. Price drops and reductions, property not selling, yet still some property appears and is massively overpriced.
  5. Thanks for the tip. But in my experience, private landlords are not likely to tell you their future plans if they want tenants in and, legally, you have very little security whoever your landlord is. We were in the first property for 7 years and had to move very quickly with two months notice. We have been in this for three years. But are kids have been forced to live in two different houses. So quite long-term lets but I don't like living in a property only at someone else's whim. Properties rented by trusts for the very long-term are, I would imagine, pretty rare. I have to say, ten years on, with our kids now at 9 and 6, we have rented waiting for a 'correction' to no avail. If we'd bought ten years ago, we'd have ten years left on a mortgage now. Instead, we are getting older, and we are face getting a mortgage. It's not the same for everyone. If you're on your own, or in a couple, so what if you have to move? But, if you have kids, things change.
  6. Benzlife - I have heard talk of a 20% correction for ten years but I'm still waiting and my kids are growing up and I am in a large detached house on a new estate that I can't even put a shelf up in ( not so much because the landlords would say no but because nothing stays up on these crappy walls!!) and I can be thrown out at the drop of a hat. I don't want to waste my hard earned savings on a house but I've tired of this renting business and being treated like crap by landlords.
  7. Couldn't work the link on your first one. I agree that area is nice but prices usually are anywhere between 230-270 and the higher end is for properties with a fourth bedroom and views of the cathedral. I can't understand why they've dumped an extra 50k on the price of this one. Even the terraces in Albany/Belle Vue which did go for these type of prices have slid well below the 300k mark. Perhaps it's got a magic garden? Not sure what to do about the property I linked to. We have been renting for years and I have tired of it. We've been kicked out of one house already when the landlord decided to cash in his army pension (sods claim money from the army to rent a place while the buy one and rent it out) and it's not good for the kids. I can see it happening again here.
  8. I like this house but it is badly overlooked at the back by houses in Hallows Close - a little row of 5 terraces. Good price for the area and nicely done. What do you reckon? Anyone know the area?
  9. It's craziness. Alot of the houses of the houses on that street have 'Spire views' or fourth bedrooms and even they don't go for more than 270k. Mackillop and Gregory are clearly hiking it up.
  10. Yet estate agents don't seem to be getting the message - look at this from MacKillop and Gregory which came on -today 320 for a little terrace in a street where property usually goes for around 250 in a market where nothing is selling - it hasn't even got a separate dining room -crazy!
  11. The market has definitely frozen up. I have been watching it since early this year and there was a flurry of sales around early spring. Since then, however, more and more properties have come on to the market under the 300k mark (and particularly below 200k) and nothing is shifting. Some prices have been reduced but there is a lot of overpriced crap on there that frankly has very little chance of selling at anywhere near the asking price. If you look at the figures for number of properties on the market in search on Rightmove, there are over 300 on the market under 300k. I have never seen a number that high. We have been watching the Salisbury market for a very long time, hoping for a slow down or slump. This is definitely a significant slow down.
  12. I agree. There is no house price crash in this place. My sons have just started school over the Hampshire border and we were thinking of moving that way but the house prices are so much higher there - literally fifty grand on top of Salisbury prices. I think this is what must keep Salisbury prices high - lots of other place are much more expensive, so people work there but live in Salisbury and send there little cherubs to the obnoxious grammar schools.
  13. When oh when are these houses here going to fall? This came on today on Bishodown Farm I mean really - 325k for that! That's 25k more than it would have been on for 2 years ok
  14. This town has got to be going tits up soon.......surely? I'm still on the Rightmove daily alert and there has been another flood of houses on recently - at ridiculous prices. £325k for a terrace on Belle View rd. No drop in price there. The BFarm ones still seem to appear on the market with an extra 20k added each month too. I have noticed quite a few big money houses on recently. Why;s that do you think? 500k plus. Money leaving the town??
  15. My husband was one of nine in a 3 bed council terrace. I know what you mean. Spyguy was going to say Castle rd area houses are even more expensive cos of grammar schools. It's all a bit too smug up there for my liking but it seems to be where anyone from Salisbury wants to end up. I wouldn't live Queen Alex way but was gobsmacked at the price of the place.
  16. Spyguy...we've banked with this bank for 20 years. They know my husband has been solidly employed throughout that time. He only contracted for about a year in 2008-9. My earnings aren't really worth taking into account anyway. But my husband's employment record is fine and the bank said that they gave us the highest ratings as customers because of our history. They just aren't lending. Full stop. We'll have to sit it out again. Let's hope there will be some kind of slowdown. Haven't seen it yet in Salisbury. But then a 15 year mortgage might be feasible!
  17. Thanks, we tried that and landlords will rarely go beyond six months - 12 months at most. But I think we need to decide about staying put etc and decide whether to ask for a longer lease rather than let it revert to a statutory tenancy when our initial 12 months is up at the end of the month. Problem is husband is 44 so getting mortgages will get tougher. I work freelance but one of my sons is not yet at school so until he is (September) I can't really push my business. Maybe review in another 6 months or so. Spyguy husband now has a permie job so we are not into the contract mortgage malarkey but they still offered us less than last year on more certain income. In terms of the SPX market, lots went on after Easter and it is all still there. We saw one in Bouverie Ave which was prced at 299 for a 3 bed semi which needed loads of work doing to it and had basically a half a room for the third bedroom. Some mug has just bought it! But apart from that the rest is still there including a 4 bed semi on Queen Alex rd for 325!! Please
  18. Touche - I get the point I do. It is hard when you have kids and you want to be settled somewhere. We got kicked out of our last place with two months notice which is really hard to explain to small children. We have been out of the market for so long precisely because we are not stupid about these things but it gets on top of you sometimes. You just want to say - this is where I live and feel it is your home. I don't think a bank you are changing too will let you keep the other account open will they?? Anyway, I will see what Nationwide say when I see them next week. Spyguy - hi! I am hoping this is going to be it for Salisbury. The market has been flooded with over priced houses. Two friends who are also looking have had the same problem with mortgages and nothing seems to be selling but I have been here before so I won't hold my breath!
  19. 140k wouldn't get you a one-bed flat here! The more I pushed the bank the more it became obvious their lending criteria had tightened even from last year. This is fine. We don't want to borrow stupid amounts and I understand the effect this will have on the market. Why not be straight about it though? Why not tell people that they are not likely to lend beyond 3.5 x their wages? That would have the desired effect! I am thinking of changing banks not because we will get a better deal elsewhere (we are putting the mortgage thing on hold) but because Lloyds have been crap for many reasons for a very long time and they are not exactly competitive. We have always stuck with them as we don't want it to affect our credit scoring. Does changing banks affect your credit history adversely?
  20. I spoke to London and Country and they said that there were very few products on the market for 90% LTV and we'd be looking at 7% even if we could get as high as 230-40k - gulp!
  21. No, have checked and bank agreed we are A*. Haven't got a big deposit though - 35k. God, what has happened that this is not a big deposit these days? I remember buying my first house in 1997 with a deposit of 4,500 which seemed massive at the time.
  22. Right, we started looking at buying a house again this year. We've rented for about 7 years. We live in Salisbury where prices (in the 'desirable' areas) have pretty much held on in the last couple of years mainly I think due to the fact that no one was selling. Recently a ton of stuff has come on the market. Loads every day. Salisbury is a really small place so we reckon that is going to have an effect on prices, so we start looking. My husband is the main earner and we have an income of around £65k. We have a great credit rating and have been with our bank for 20 years. Today, we found out that the most they would lend us is 200k which won't get anywhere near a decent family home here. I may be naive so don't flame me but we haven't looked at the market for a year and I was really suprised to see the banks being even tighter with their lending than they were last year when they offered us 230. I'm thinking ......again.........not a good time to buy!Surely something has to happen with tight lending criteria and a flood of houses on the market. God, we're getting on a bit, perhaps we'll never have a house again. Would just like something permanent for the kids really. Tell me to stop being a weak minded bint!
  23. Spyguy....I wish it were so but we have returned from hols to loads of 'sold signs'. I know this doesn't mean the houses will complete but there is obviously lots of market activity. Also, we have been here several times before over the last 7 years, hoping things will slow, that businesses will close and people will move out and that property prices will drop. I just don't see any evidence of it here. A 3 bed in B Farm was put on for 295 the other day. I know it won't go for that but it is about 50k over usual value and people are just chancing their arm still.
  24. I've written three times to the Armed Forces Minister asking why officers are allowed subsidised housing when they buy to rent down a mile away from where they are stationed. It's HQ Land Command round here. These are senior officers not likely to be posted abroad at the drop of a hat. Our landlords rented to us for 5 years while living in a similarly large house, at taxpayers' expense, a mile down the road. And they complain about MPs!
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