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House Price Crash Forum


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About Jimmyb

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  1. I think the most interesting thing about this story of the bloke with 100 BTL is that he was saved by interest rates going so low while he was on a tracker and saving him from bankrupcy. Now though these deals are coming to an end his payments are shooting up from virtual peanuts to normal levels and he is f***ed. This is going to be replicated all over the country over the next year, add to this rising interest rates and we are going to see carnage in the BTL empire. Can't wait, I personaly don't mind somebody that has a sensible business plan but the tax payer and the savers have been bailing these greedy F**k wits out for too long.
  2. Alfie is correct on this one, we made offers on houses last year all 15-30% below asking price (and that was on the realisticly priced ones). We made offers on 15 houses we liked and after lots of stupid comments from EA we had one offer accepted 18% below asking and about 27% of peak price. Property boom is looking for a mug, there is no one house that is perfect that you should offer any where near the asking price for in this economic climate. As Alfie says do the hard work now by putting in loads of low offers, one will accept. You are never going to get the bargain of the century at the moment but you can get the best deal you can. Why are people so keen to bargain on anything and everything to get the best deal, but when it comes to property they think we should all pay to wack? Domonic Littlewood springs to mind.
  3. Like all developers in this position they have overpaid for the land (because they are stupic and could not see this coming) so they have to get near the asking price to break even. Let them go bust and buy it at auction for £150k.
  4. That's the way capatalism works, lets hope that this is allowed to be the case this time and the weak and stupid go bancrupt withought too much interference. Of course all these bank bailouts have helped them and lowing of interest rates but that's the rats (ie the government) trying to save themselves. They will obviously go at the next election and lets hope that the tories run a tighter economic ship.
  5. Hi Sibers, all joking aside, With all the banks and economy in a right mess and unemployment going through the roof do you truly beleive that house prices will go up in the next five years? I would love to know how and why, please give me 3 reasons? Thanks
  6. This is why I like this forum, there are actually intelligent posters who are clever enough to realise what is going to happen. I can confirm that the market is dead, my wife and I are tentatively looking to buy a house to live in and putting in very low offers on the most desirable properties, no takers as yet but the properties we have looked at are still not selling. Only the real cheap ones and I mean cheap, like 50% off boom and very nice houses with land are selling and these are going the day they come onto the market, probably to agents mates. I have phoned after 2 that were priced around 1999 figures and they had sold within hours. Estate agents are the most corrupt individuals going and nobody seems to care. In our area we also have bold agents boards saying sold in very prominent positions that I have always viewed with suspicion
  7. Have you put in any very low offers yet, I would be interested in hearing what type of response you got. I have put in a few 25% less than already reduced asking prices and most of the agents are willing the house owner to accept. Of course there are one or two agents that get very snotty but they are just like spoilt kids not getting their own way.
  8. Agreed, the truly savy, not the morons buying now.
  9. I am currently viewing properties and agents are desperate for me to put any offer in on properties that have already come down 20%. I live in a very desirable part of Dorset, this is the reality. If you look in Property Bee and watch it over a 6 months you will realise that only drasticaly reduced properties are selling, very nice 3-4 bed detached which are over 20% down not shifting. The chav scum can't get loans anymore only the people with 30% deposit can get a decent loan and how many first time buyers do you know with that kind of cash??? not many. Ps Mr Bootle can't legislate for complete stupidity that has sent the whole of the banking world in to near bancrupcy, he is a sensible man and can see how stupid things were going, I only wish the world had more people like him.
  10. As a bit of friendly advice, don't invest in property, these interest rate cuts may stop property falling to 3-4 times income for the moment but once mass inflation starts the falls will get bigger. The GENERAL trend in REAL prices (not one month) will be down for the next 7 years, mark my words put your money into well run equities currently paying 8% dividend. Did you not see that BP and Shell anounced the largest profits EVERfor uk ft listed companies, that and other companies is where the smart money is going. Stupid money is still going into property - you have been warned.
  11. Why would anybody going to Australia want to live in one of the cities, you can do that in the UK. I did the year working visa thing and the best parts of Aus are the coast, Byron Bay, Coral Bay, etc, etc, even grape picking in Toolybuck was fun. As for the people, you get good ones and bad ones wherever you go so I am always wary of general comments about what people are like. My brother lives in Perth and it was a great place to buy 3-4 years ago, since then prices have more than doubled, an in my opinion like the rest of the world a place to stear clear of property. One thing that makes me laugh is the person going on about shares tanking, even Del boy new to buy low sell high. Now is the time to buy into well run companies, ps anybody get on the Barclays bus Monday, I missed it but did ponder a punt over the weekend but was to slow - bloody work, always gets in the way.
  12. Yes this does not suprise me, the builders are just trying to lure other mugs to buy their over priced c**p for a higher price than somebody with some balls.
  13. Bla Bla Bla - do these people actualy get paid for trotting out this crap. They will do ****** all as usual.
  14. Ask her what she thinks about Ken Clarks statement that the answer to too much debt is less debt not more debt as this government seem to think.
  15. MMM Where should I start, If you are determined to buy at the moment then you have got to knock 20-30% of the asking price or you are a fool. Better still. Read this site for a few months before doing anything.
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