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QuietObserver

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Everything posted by QuietObserver

  1. Or are those Cyprus property ads that have started to appear mid-thread a bit inappropriate for this site?
  2. Is this it? http://news.bbc.co.uk/player/nol/newsid_65...bw=bb&mp=rm
  3. Thanks for the posts. From what I know, they were expecting to pay for legal costs on top of the £1 transaction, but hadn't budgeted for stamp duty. There are no partners with either family member that have any legal standing. I don't know if making the house into a gift is an option, as I believe Inheritance Tax is still payable if he stays in the property and does not pay a market rate rent. Does anyone know of any decent links about the law and hiding assets? I can only find stuff about divorce.
  4. My mate's Dad is self employed and has had some problems with a large supplier letting him down on a big order, so he has taken them to court. He has personal liability in the business and is understandably concerned about retaining his house if he loses the case. For protection, he wants to sell the house to my mate (who is not a homeowner yet) for £1 and then buy it back for £1 when the case is over. Now this sounds too simple to me! For a start, is this legal? If it is above board, does anyone know what the implications of this are and will there be any penalties to either of them like
  5. The latest Land Registry figures have been around for a while, but I've just spotted that flats in Newcastle are reported to have risen 26.5% in the last year according to the BBC! http://news.bbc.co.uk/1/shared/spl/hi/in_d...s/html/cj.stm?f What's caused this? Posh new builds being snapped up by BTL?
  6. This week Newcastle was named as Britain's worst major city to do business in, mainly due to poor skill levels and transport links. http://www.omis.co.uk/Downloads/BBC06.pdf
  7. Anyone know who wrote this? It might be worth Webmaster submitting an official entry instead. http://en.wikipedia.org/wiki/House_Price_Crash
  8. This article was published in the Darlington-based Northern Echo, which is a popular paper in Tony Bliar's Trimdon constituency. The people who directly voted him in will have read this while having their breakfast! By the way, the article has now been archived. Here's the new link:- How wrecking prices are wrecking family life
  9. Thanks! Been really busy, but I've still found time to keep up with this forum. Is it me or are more Sold SSTC signs popping up aroung Jesmond and Gosforth?
  10. BTL and then rent to DSS claimants. I've been told it was surprisingly recession proof last time in the less posh parts of town. If people are on long term incapacity then rental income is pretty much a constant income and it could be much easier to collect money from the council than students or young professionals. I don't agree that it's right, but it does happen. I wouldn't think the council would foot the bill for a nice flat near Ilford Road though!
  11. Seems like some things never change in the North East. Long term unemployment is as strong as ever: - 125,000 Are Choosing Unemployment Strengthens the argument for BTL being a safe bet!
  12. The latest Pattinson results are out. So far less than 30% of stock has sold, but this changes over the next few days as legal stuff goes through so could go up/down. Here's the link: - Pattinson Auction Results - 30 August 2005 Any thoughts?
  13. You could try http://maps.google.co.uk. The satellite pics aren't great, but the actual maps are much clearer than other sites out there
  14. As ever, neilrich is spot on! Jesmond is arguably the easiest area to sell property in Newcastle if the price is right. Selling prices have more than tripled in the last ten years, but they are starting to stall now: - Average Price Of Flats In Jesmond Over The Last Decade The first question I would ask myself in your position is whether £15K is a decent reduction for a property that has risen in valuation by potentially £80K+ over less than five years? The next question I'd consider is, if properties are being reduced this much so soon after the 2003/4 market peak, then is it worth hangi
  15. OK, so this property isn't in Newcastle, but it's not far away and the picture definitely says a lot about the market at the moment: - Windermere Road, Seaham
  16. The latest Pattinson Auction results are out and the number of sales is currently about a third of properties listed, although this may change in the next week or so: - Pattinson July Auction Results P.S. That flat in Knightsbridge Court didn't sell in the end!
  17. Spotted the property at the very start of this thread doesn't have any boards outside any more. It didn't have any curtains in it either though! Wonder if it sold after all?
  18. Here's another Pattinson reduction in Gosforth. Just off Salters Road, here we have a three bedroom house now for £199,950 This house is reduced, but is it good value? Asking prices are strange in the vicinity. Houses on Salters Road are currently offered around £160K, but Tyneside flats are around the £130K mark and seem very expensive in comparison (to those who don't know, a Tyneside flat is pretty much half a small terraced house). Looks like there might be some more of those green signs popping up in the area soon.
  19. undersupply - why the capitals? It's rude to shout! Have a read of this from the Wall Street Journal. Apparently Japanese prices have fallen for 14 years in a row and have only recently showed signs of stability because year on year falls are getting smaller! Japan's Land Prices Show Signs Of Stabilising Your other points don't really tell the full story. Whatever happens to rates, things have slowed down enough for most people to see that property isn't on a never-ending price hike. In fact, now that news of price falls have made it to the tabloids, it does look like the cat's well &
  20. Do they give any explanation as to why they think this? Without any evidence it is pure conjecture. I would like to see some figures or methodology to back up these claims. London will always show the largest swing in a cyclic market, so those price increase figures are not a surprise. Someone on here graphed out historical price data over time by region and the North hardly fluctuates compared to London. In fact, the North wasn't really touched by the last crash in comparison to the South. This is the first property boom the North has experienced. That's what makes this short sharp boo
  21. I beg to differ: - The only people in trouble are FTB with no deposit and poor wages No! A traditional FTB flat in Heaton is now around £100K and four years ago they were around £40K. What do you mean by poor wages? I know someone who recently sold a flat in Heaton to a FTB on £30K, but there aren't many of them around up here, believe me! Newcastle has plenty of students to rent to, large medical and dental schools, lots of hospitals etc True, but they have been around for ages and everyone had somewhere to live when property was much cheaper. What has changed? The Universities ha
  22. Not sure how much the reduction is and I'm not sure how to find out (I don't fancy posing as a fake buyer to find out!). The asking price is still more than selling prices at the back end of last year, which were spookily all £138K.
  23. BTW I spotted my first Pattinson reduced price notice today in Gosforth. The flat below has a broken window that looks to be boarded up with what looked like cardboard. Not exactly going to help twist a prospective buyer's arm in boom times! You can see it in the pic here Tyneside Flat In Audley Road, South Gosforth - worth over seven times the average salary?
  24. I knew a girl who went for a job with Pattinsons a while back. It was less than £9K basic. Not much really and I certainly wouldn't fancy relying on the OTE in the current climate
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