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House Price Crash Forum


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Everything posted by bobthe~

  1. Sorry, have hardly been here in ages. It's a big Front door... Generally though, things are being sold quickly. I haven't kept a tab on prices, but there is one for sale near me in Cranleigh Road for 900k - 3 bedder in not great nick, but with a big garden that I think would have been 700k before the credit crunch. Prices were being supported by low IRs (and gone even lower from a savings perspective, such that a 4% yield looks attractive. We did buy the place we were renting about 18 months ago, because it was a good price for the area and we couldn't be bothered to move, especially after looking for other rentals. Pretty content therefore with the situation, but I miss the pot of cash.
  2. Shocked that they aren't going to be blaming Global Warming. It is the BBC after all.
  3. TBF, that is usually Halifax although maybe NWide have used it as well. I rarely keep an eye out these days.
  4. I doubt the govt would want to let go of a central list of car registrations and who owns them, so that would still be in place. They could change it to be a nominal amount on change of owner, or change of address, and as you say pay via petrol, but there still appears to be a need to check on MOT and Insurance for a vehicle. Other opinions are available, obviously.
  5. Actually, there are a few on EL at that price... http://www.rightmove.co.uk/property-for-sale/property-33262408.html I think this one was on a year or 2 back as well at 100k less and there are these at a similar price: This is smaller but 1.2M on Chestnut Avenue This one looks Like Parkwood Avenue - 1.15M So 61 EL is maybe not too distant from the others...
  6. Well I saw that 33 went for £1.15 in the summer, so I expect did the EA. However, that is a very high price and I thought well over the odds for that house as it didn't look in top nick, and especially if you bear in mind that they were about to knock down 29 and 31 (which looks like it is now complete). The other strange thing was that after buying 33, the workmen came in and gutted it from top to bottom. So it would have to be a very optimistic and bullish person to come in and buy that house at that price (and ignore all the better priced properties on better roads). I suspect that as it was around the time that planning was being sought on those 2 houses, that maybe they did a deal and got bought out by the developer in exchange for agreeing perhaps some amended plans, or perhaps the developer wanted the bottom of the garden. It also never went onto the Web, suggesting perhaps it was done and dusted. On the flip side of that, if it was a commercial transaction, you wouldn't see it, so maybe not. There are also now a lot of houses going on the market so shortage of supply may not be something that will keep people interested in this house. Worth checking to see other similarly priced houses in the area or houses of similar size and see what they are going for. i would like to think it won't sell, but then whoever did buy it timed it just right, didn't they?
  7. an update on this: It has appeared on the Curchods site at 1.225M - been done up, but if you drive past it you will notice the front wall is propped up by timbers. Not sure why they would have done everything else but ignored that. Doesn't give it kerb appeal, that is for sure. And the extrnal is a bit tatty, with the roof being a little dirty looking. Link is here: http://www.curchods.com/display/209802?n=12
  8. Saw last week that the house on Ember Lane that has been asubject of many of my posts (the "blue tiled" although it was green tiles, just the shutters that were blue) house is back on the market with Curchods. As a bit of histroy, back in 07/08, it was on the market for 1.25 mill. Ridiculously overpriced even for those days. It dropped and dropped until it went under offer with the price at 750. I heard this price was 699 on the grapevine, but that fell through and then finally according to zoopla: 5th Jun 2009 61 Ember Lane, Esher KT10 8EF Detached, Freehold, 6 Beds, 2 Baths, 3 Receps - Edit £713,000 Unfortunately I haven't seen it on the internet yet, so don't know what price it will be going for. So maybe it is not going to be marketed on their web site. Some work has been done on it, although I would guess not a lot as I only ever saw 1 skip outside. However, in Esher, the market has moved up a lot and so I would guess we are looking at that 1.25M price once again. Mrs bob told me we should have bought it back in '09....
  9. Sounds like Monty Python's cheese shop to me. Maybe there is not much call for Men's shoes between sizes 8-12 round their way.
  10. Ha Ha. The whole point of a black swan is that people in hindsight say how obvious it all was.
  11. The report says that is above inflation, if I read the article correctly. however, they don't say whether that is wage or price inflation.
  12. I imgaine that recommending people commit suicide would fall foul of most moderators...
  13. I think I mentioned this a few years ago that instead of giving 20k per person to the banks, they should give it to the people to either pay back their debts or to stick in a savings account if they have no debts. Can't touch the money for at least a year. It would have been far better than what they actually did, and let's not forget, are still doing... I am with fluffy on this,
  14. Totally agree that people in financial straits but a lot of house equity should go and rent. But that is not going to be government policy. My point wasn't really about buying one house after selling our previous house, it was more that no money is created by selling a house. Seller gets 500k buyer pays 500k. There is the creaming off of EA fees and Stamp Duty, but those again are just moving money around. Also the value of land is approximately (value of the poperty + Land) - rebuilding costs of property, so unless the government is somehow giving away land that they do not own, I am not sure how it works. It may be quicker to release land for building by taxing developer land banks punitively until they build. But maybe I have understood it poorly.
  15. But isn't it just money transferred from one person to another? the buyer uses up his money to pay off the mortgage (or moves mortgage from one bank to another) There is no "new" money in this scenario.
  16. Hmm, the M25 opens at the same time (within a year or 2) of the Big Bang deregulation in the City of London. I know which of the two events I would link more closely to London and SE house prices. Edit for spulling
  17. Last time, if 5 years ago, everything in the garden was rosy, and they would lend to anyone who could "fog a mirror". That was not normality. Normality is lending at a rate over the rate of inflation...
  18. So we have gone from "why didn't the ratings agencies do due diligence?" 2-3 years ago, to "We must stop them from doing due diligence" Cool.
  19. Well I think that is the problem, nobody know the value of their house until it is sold. You could get an EA around, or re-mortgage, but neither of those are particularly reliable as having your house sitting on the market for 2 years, or alternatively having 5 people in a bidding war. I am interested in the "fact" that public sector workers think their houses are falling further. Did they take out the geographical factor? I would expect people outside of London and the SE to think their houses are falling faster, as they appear to be in reality, and if those PS workers are weighted to be outside London, that may explain it, or, more likely, PS workers are the more worried.
  20. Lloyds would have been, but for the govt of the day. It would only have been relative though. Maybe Metro Bank? McFool could make a killing on a crisis he didn't understand and watched gleefully as the bubble got bigger and bigger.
  21. 1. I live in Esher, and you should have been here in 2008. 2. Everybody looks forward to the keys on their new house. To suggest otherwise means that from day 1 they know they are making a bad deal. i am sure people who got NR 125% Together mortgages were happy on day 1. You need to ask if they are happy now with their purchase. 3. You are right about the war bit, though. Anyone who wants to buy a house should go in with a more conciliatory attitude. If you are just trying to wind an EA up rather than buy a house, then that is fine, it is good sport, but sooner or later they will need to be your friend. They can do more to talk a vendor round than you can. When we last bought, we still believe it was down to the previous house falling through at the last minute that meant the EA worked a bit harder to get our offer accepted.
  22. Foolish mortal. Your first offer is always refused. Offer 410.
  23. The concept of Insurable Interest has been around for a while, especially since people used to take out huge insurance policies on people they didn't know and then arrange for them to be bumped off. I have always thought that should apply to CDS contracts. Edit to add: Well maybe not "always", but for a while, certainly.
  24. Isn't he saying also that letting agencies should get a reference from the previous LL? I can't see how that is covered by the DPA.
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