Jump to content
House Price Crash Forum

equitystasher

Members
  • Posts

    343
  • Joined

  • Last visited

Everything posted by equitystasher

  1. Branch full of estate agents with no paperwork on their desks twiddling there thumbs all day on a Saturday is a useless indicator? If the property market was hot then they should be out in those minis doing viewings and valuations or doing admin on transactions don't you think?
  2. Have been keeping a eye on the Brighton area in particular 3 bedroom houses in BN2 post code. I have been viewing these properties since January this year. I had viewings on these two houses back in March. This first was on for a asking price of £250,000. http://www.rightmove.co.uk/viewdetails-149...=4&tr_t=buy It was taken off the Market a month after I viewed it. The Ea said to me on the viewing that the vendor were a couple whos son was at university and that now he had left they were selling up and I presume the reason why they took it off a month later is that they must of had a offer on it. It is now back on the Market for £237,950 The second was on the market for £260,000 which was a Kite flying price but was then taken off the market a month ago. http://www.rightmove.co.uk/viewdetails-825...=6&tr_t=buy its now back on for £250,000 I have noticed a increase of houses and a few that are back on the maket after being sold. Has anyone else got their eye on the Brighton market?
  3. Where do you live? Surrey What is your status? Sold Flat in May Living with parents. Will rent next year with girlfriend when hopefully property should be into freefall. What do I earn? £27,000 (£50,000 with girlfriend) Deposit £120,000
  4. I have noticed in the Local rag and paper that I am now seeing "New Price" signs and instead of "offers over" . But I am now seeing "price range" with the upper limit being the previous price and the lower limit being the new asking price. There will be a few vacant shops and a few minis up for sale in 12 monthstime methinks!
  5. South East is 0.0 Has'nt London and the South East been leading the boom? Also does'nt it also take on average 3 months for a sale to complete so this is reflecting sales made in March/April which is usually the best time of year. My personal experience from looking closely at Surrey and Brighton since Febuary is that houses have been more diffcult to sale but I haven't seen and significant asking price reductions untill the last week. Keep the faith
  6. I hope your right. My Father is a self made man. No school qualifications.Apprenticeship at 15 and has always ran his own sucessful business built from nothing. He is the only one in the family that currently agrees with me and my girlfriend.
  7. Northern Rock is using the fee to up their margins on that low rate which would work on a£150,000 mortgage but a £500,000 mortgage on the same deal would mean they would lose money would'nt they?
  8. I bought my 1 bedroom flat in 1999 and completed at the end of last month walking away with £115000 in equity and no debts. The original plan was for me to move in with my parents and buy when the right house came up. My girlfriend is a Nurse and I am a Firefighter so we have job security but do not earn large amounts and do not expect to get any significant wage increases in the future in fact my current wage increase for this year is 2.4% an hers is about the same but stepped. I could of taken a large mortgage of £150,000 and got the house we want but it would mean me working two jobs and all hours there are and I want to see my children (if and when I have them).I do not want to be like the majority of my peers at work trying to make ends meet so my judgement says wait.It could all make a big difference.But am i right? It is about quality of life rather them making money. I am currently at home paying £200 rent and saving. My girlfriend is at home paying similiar amount and saving althought not quite as much as me! She is happy to rent with me and does not mind waiting to buy. I am 33 and she is 28. (edit for typo)
  9. I have to say that I find that it is still hard going being a bear. Having my sibilings both University Graduates of Economics telling me that I am mad selling my Flat and holding off buying a house in Brighton with my girlfriend and staying with my parents with the view to rent as I think the market is going to crash is loony tunes! As a Firefighter I do not have the the full understanding of economics but I have bbeen told and think I am intelligent enought to look at human nature,economics and the fractional banking system to believe I am making the right choice but at times I find a little bit of doubt creeping in when my brother and sister keep telling me about joint incomes,and how i have it all wrong. Am I the only one in this position?
  10. Interesting post. My sister lives in 3 bed semi bought on the outskirts of Oxford in 2005 at the last dip for£210,000. Needles to say she has seen houses alonher road on the Market for £310,000 and selling which is why she thinks I am mad completing on the sell of my flat last month and not buying anything else. What are the general prices doing in Oxford at the moment?
  11. Interesting I wonder how many BTL landlords are in this situation. I wonder how many have been enticed into a BTL mortgage with a teaser fixed or discounted rate to realise later that they have a huge overhang and are stuck on a much higher rate.........o yes and rates have gone up as well haven't they Reminds me of the subprime lending situation over the water
  12. Here is a good one if you need to pop next door "to get something for the weekend" http://www.rightmove.co.uk/viewdetails-157...=6&tr_t=buy
  13. I hear today that Firefighters are to get 2.4%. They are also owed money back to this time last year which still hasn't been paid. Trying to hold down inflation/ interest rates by using the public sector is not fair and will not work.
  14. It could also be that Brighton is the BTL capital of the country and all those investors have dried up leaving no FTB with high enough salaries to keep the market going. House prices at 9.3 times local earnings I am hoping for some sanity to return and sooner the better.
  15. Walking into Brighton today with my girlfriend along the Lewes Road we pass alot of Estate Agents. We were both surprised that on a Saturday afternoon at 2pm on a sunny mid June day that some of the agents were closed and Fox and Sons was full up with agents sitting at empty desks with no paperwork and no customers to deal with. It was also nice to see that the situation had'nt changed when we walked back at 4pm. I could of sworn they did not look very happy. Anyone else noticed this with their local agents?
  16. The amount of specdulation in the Brighton market might go along way to explain why prices have boomed especially in the last 12 months. As soon as the BTL dries up I am hoping that there will carnage. There cannot be many FTB with high enough salaries to prop up prices down here. I did a little research into the Brighton Housing market and the average house price to average earnings here is 9.3 Brighton also has a very young population compared with the rest of the country.Largest age group here is 25-35. The amount of To Let signs is silly around here but then again I am not far from the university. What I have also noticed is that some have been up for some time so I am sure you can negotiate a good price if you wanted.
  17. Ok being a economics numpty I read this as the money markets betting on higher interest rates being needed from the CB but does the fact that the markets are reacting like this put pressure on Merv and his pals to raise rates? I know that the fixed deals will ghet more expensive but the I feel the pschology of the the CB raising interest rates is the best bucket of water over the housing market as it tend to grab headlines.
  18. housesnake. I am with you in spirit. I am however different to you in the fact that I completed on the sale of my flat 2 weeks ago and have equity in the bank. I count my blessing that I bought back in 1999 and now have no debt and a sizable lump to put toward a house. The problem is the next rung up on the ladder is so far away that I have woken up to the fact the the risks of financial ruin by loading up with debt to reach that next rung outweighs the risk of me sitting on my hands and waiting, watching and yes hoping that sanity will prevail. Some think I am mad and and my Mother worries about not having bricks and mortar. Lucky for me I have a great girlfriend who is happy with my decision and a father who agrees. I am currently at home with parents saving and watching the market. If it starts to fall by 2008 I will rent. Prices could sail away but I don't think they will and if they do I would want no part of it.I want a life outside of 4 walls. What are the risks IR going beyond 6% in the next 2 years? Is the market supported by enough FTB to sustain it when the BTL dry up? Can price to wage ratio be maintained?Do people feel property is value for money? The party I think is ending and sentiment is starting to turn I think no one can deny that.
  19. Having completed on the sale of my Flat last month and £115000 in the bank with no debt I am hoping that I have jumped ship at the right time. I bought back in 1999 where people including some members of my family that I should rent not buy as a mortgage was a huge commitment and risk. Now people are telling me that I should buy as property goes up and I am mad to sell and not buy another place to live. All I want is a nice 3 bedroom house in a fairly nice area without mortgage which will make my nose bleed! I am currently at home,paying a bit of rent to the parents telling my girlfriend worst case scenario that we will be either renting next year or buying a worst house for more money. Have I timed it right. Are the bears right? I hope so. Only time will truly tell but I am hoping that all the evidence I have seen mounting in the last three months is more bearish than all the bear news you old grey bears have seen in the last couple of years. I find it nerve racking so cannot imagine what has been like for bears that have been out in the wilderness for a couple of years if not more! Interest rates are the key to sentiment which should be heading up,up and away. I feel and hope that sanity will return very soon and people wake from the dream world they are currently living in. I will also get my mother off my back!
  20. I have completed on my flat sell last Tuesday selling in Surrey walking away with £115000 to put into high interest accounts. I am currently at home with parents and saving for at least 6 months at which point I may decide to rent with my girlfriend and save some more with the expectation and hope of market falls.If it does I will be holding off for as long as my circumstances permit. The original Plan was to purchase a 3 bedroom house in the Brighton area but I woke up to the economics of the situation in time.Brighton house price Inflation has been rampant especiallly the last year. I have been watching the Brighton and hove market and agree tha renting is the way to go. With property in Brighton and Hove at 9.3 average earnings and the biggest part of the population in the 25-35 age bracket I hoping like you that people will wake from their dream and see that buying is in fact a mugs game. Rent is not dead money!
  21. I see...my tax code is 522L so I take £5220 of gross income and that is my taxable amount. This gives me a little more space to move on.
  22. Thanks guys for all your comments....interesting. I can see what people are saying about the tax bracket but I think with a bit of overtime and interest rates going up I could be easily pushed into the %40 bracket. This is where I have got my information from or am I am wrong in assuming that my total income including interest will be taxed at %40 if I exceed £34600 p.a http://www.direct.gov.uk/en/MoneyTaxAndBen...ents/DG_4015739 I have looked at NSandI index link certificates and I would go that way but I want to stay liquid for the first 6-12 months. Also am I right in saying that is you withdraw your money after just one year you will not accrue RPI + % and if you withdraw it before then I will just get face value? Gold and Silver I have considered but could'nt the bottom drop out of these markets? And would'nt be subject to CGT?
  23. Hi guys, I am new to the forum having been a lurker for the last 3 months. I bought my 1 bedroom Flat back in the beginning of 1999 and have seen the madness happening around me and have been counting my blessings at my timing on buying especially when at the time lots of people were telling me it was a bad idea and I was mad to get a mortgage. I decided to sell back in January and buy a 3 bedroom house with my girlfriend who is presently living with parents so the flat went on the Market and me being me decided to look in depth at the economics of this whole out of control train which led me to this site.I hopefully will be completing the sale on the 21 of this month. After weighing up my options ie (get a 3 bedroom shit house in a shit area with a large morgage) or wait and see the next 6 months i decided to go with the latter. I will move back with my parent during this period and will be saving £500 a month. I will have 114000 from the flat which to invest. My salary is £28000 so the interest from the proceeds fo the flat as i understand it will push me into the %40 tax bracket. The million dollar question is how can i avoid this. I have looked into premuim bonds,getting my family to use their isa allowance but is there another way?
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.