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brickinthewall

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About brickinthewall

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    HPC Newbie

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    Essex
  1. It is a genuine post! If I want anything to come from it in particular, it would be that society cannot prosper with this 'investment' mentality alone. As much as I have paid attention to the sometimes good financial advice on HPC.co.uk I am trying to show reason to achieving a balance between not losing everything financially and acheiving some family stability. Isn't it this investment culture and greed for houses that has led us to a lot of our problems in the first place??
  2. Thanks for the comments. Yes! I did ask for them, but I think they also indicate the variety of opinion amongst the HPC.co.uk audience. I would add a thought to those who consider there to be 'nice' areas out there in the UK. These nice areas are in many ways sustained by people who have taken out massive mortgages to live in them. If we are facing some kind of financial armageddon as some of you indicate, then perhaps some of these people with massive mortages are going to become the most affected. Hence, some of these nice areas will be under a lot of social pressure, especially areas which had new developments built in the last 5-6 years. All very well to say that these people are on big salaries, but if they lose their jobs? Finally, I'm opting for a location that would allow me to live car free if I wished, cycling to work and also close to many amenities.
  3. Cheers! I'd tried the low offers of 25% below asking around where I am and couldn't quite get a result. Also, many nice properties are oil fired and remote. Now had to steer clear of some of these 'cos of the escalating costs!! I'd have liked to sit a bit longer but can't quite keep things balanced any more. My kids need parenting and stability otherwise they could be the ones smashing car windows!
  4. Hi everyone, Well!, finally had enough of all the stresses that are thrown up in life at the present time. To put you in the picture, we sold last year (July) and I had been watching the market closely along with everyone else on here. I had accomodation provided by my employer on a heavily subsidised rent for a maximum of three years, so would have to start looking to move in another twelve months from now. Have been through a house move per year for the last ten years. Absolutely crazy! Got wife and two kids to think about. Anyway! had the money in the bank(s) making some nice interest and already I've seen property prices drop in and around Dunmow and Braintree by over 20% in some cases. Now taken the plunge on a house for which I'm going to be paying on a par with its 2003 price in relative terms. I'll have a mortgage of about £150 per month and could feasibly pay it off in twelve months if I wished. Decided on a house with an open fire to try and beat gas and electric hikes, a big garden to 'grow my own' if I have to and its in an area away from the gloss of a sickly new estate. So what's driven me to this? Well, the wife is Russian and has lived through the collapse of the Russian banking system. She cringes at any mention in our news of NR or B&B etc,... Very worried about losing our savings and thinks it better to have bricks and mortar because noone can take them away. She thinks that our housing system is absolute madness and our society a nonsense. Also, as we are now on a 'new' estate that is taking overspill from London we are seeing social problems due to lack of recreational facilties for kids/teenagers having been provided by the developers. In this case it seems that developers made promises and have done a runner so to speak. Our car has already had a smashed windscreen (in a supposedly nice estate), and largely because we haven't been able to park it in the car port becasue it barely fits. Have tried to ask neighbours nicely for support but ended up with police invovled. Found out the new beautiful estate is a high priority policing area!! Pressures are building to such a point that other nieghbours have escaped the cul-de-sac by taking a £220,000 mortgage on a joint income of about £40-50k. To summarise, pressures are building and something is going to blow if we have further interest rate hikes and even if we have the 40% increase in Gas prices that we saw as the news item this evening. the money I have was made from doing up a few properties, and if I lose a bit, then it will be because of a drop in the price of properties. I'll be okay, but I have come to realise that it is a necessary financial sacrifice/risk in order to keep the family sane and balanced. Our property investment mentality that has developed (since Thatcher!?) has, I believe, eroded away many of the social values that we had in our society. I'm opting out, and want a home not an investment! Yours comments welcomed!
  5. Haven't seen/heard this new report, but I have just come off ebay.com where I was just having a look at American property that's being auctioned on the site. Can't quite believe what I'm seeing! American properties being sold on ebay for only a few thousand dollars (i.e. $4,000) when they are supposedly valued at say $70,000 for example. As I couldn't quite believe it at first, I even went as far as to have a look at the completed listings just to check things further. If I'm mistaken here (somehow, then someone correct me!), otherwise the US housing market is in a really bad way. I heard previous reports but hadn't seen it this bad! Hope this isn't the begining of an ebay housing bubble!
  6. Ah yes!, and under Tony Blair, didn't the number of students continuing on through degree courses quadruple, or something like that? That would mean that if middle class means degree educated, the middle class population would have quadrupled also. That's a lot of middle class people knocking about!
  7. Shouldn't that title read......'The agony that is Gordon brown!'
  8. Didn't anybody see 'The Apprentice' this evening? The bit in the boardroom when the second candidate is about to get fired and 'Sir Alan' and his advisers are discussing who should go next. About the half Jewish one!, and the white haired adviser (well okay the female one!!) responds to the point about him having a classics degree from Edinburgh! I believe she said.....'well, maybe Edinburgh isn't what it used to be!' Asking prices wil be coming down from tomorrow morning!! ...and no it ain't what it used to be, because there's now an oversupply of bluddy flats!!
  9. I've been using propertybee for about 2 months now, and I'm focusing on Braintree and Dunmow. Now seeing a couple of reductions per day. Newbuilds in the area now beginning to be reduced in price and quite a number of houses around the £300k mark being dropped by £25k. Also a number of £275k houses down to sub £250k to drop into the 1% stamp duty bracket. £385k down to offers in excess of £310k seems to be the best at the moment in Little Dunmow. Also quite a lot of stamp duty paid sales and loads of houses now listed with open viewings! There has been a lot of change in the last two months. If things keep going at this rate it will be difficult to keep up with what's going down!
  10. Are you referring to the Oakwood Park development in Little Dunmow? When did your parents sell?
  11. Thought I'd test the waters a little today as I've been watching property prices in Dunmow and Braintree for a while now. I've had propertybee installed for a few months and I now feel that there are some significant reductions in the area. This link.. http://www.rightmove.co.uk/viewdetails-197...=1&tr_t=buy highlghts a five bed property now up for sale that has been reduced from £369,995 to £310,000. As I've only had propertybee installed for a couple of months, there is even a possibility that this may have been listed earlier for £399,999 (but not 100% sure). As this was a large reduction for this area I rang up an estate agent to chat about a 4 bed link detached house on the same estate to see if there was any room for manoeuvre on a £289,950 price down to £249,999. To my mind, the 4 bed now seemed quite overpriced. Anyhow, the estate agent told me that there was no real chance of any move and that the 5 bed house was very overpriced in the first place. (Also, a number of properties on the estate are selling for very near the asking price at the moment!!!! ) The same 5 bed house sold for £250,000 in March 2003 as a relative new build at that time. So, maybe a £60,000 increase in 5 years - Not even a 25% increase in that time and it hasn't sold yet! Prices seem all over the place at the moment with like for like houses listed for quite different asking prices on rightmove. Also noticed a lot of strange auction weekends for houses in the Braintree area when prices are dropped significantly for a weekend (i.e. £280,000 down to guide price £230,000) and still they haven't sold. Anyone got any experience of one of these auction weekends? Are they really auctions?? I'd be interested to hear about any other experiences in this area. Bring on the crash!
  12. Loving this! Just to put you in the picture, I sold in Edinburgh at the beginning of July and now I'm renting back in England. I've lost count of the number of people who told me that the Edinburgh property market could never go down because it never had!! And now, a drop of some £12,000 on the average house price. Well!, it's only a wee drop after all but not far away from 5% if my maths adds up to be somewhere near correct. That's quite a bit different to the Nationwide figures for the house prices in England! I also wonder if because of the 'offers over' system in Scotland, and people frequently offering 25 - 30% over the offers over price, whether or not the average house price could drop significantly more quickly than in England. As people become aware of a potential HPC, surely they won't be offering the silly prices that have been seen in recent years. Once house sale figures are processed for the third and fourth quarters for Edinburgh maybe we'll see a significant change,.........for the better!! P.S. My heating bills are a fair bit less now that I'm in the S.E. England again!
  13. Took a trip around Braintree town centre today followed by a look into Gt Dunmow. Thought it would be interesting to have a look at what's going on in the Braintree estate agents as I read not too long ago that Braintree was one of the fasting growing towns (not city!) in the UK. Have to say that I only saw one customer in all of the estate agents that I looked in, and on the whole, about two thirds of the estate agents desks were empty (Not even employees surfing the web or making 101 things from a paper clip!). I'm thankfully in a position to rent (heavily subsidised by employer), having sold up in Edinburgh just two months ago. Now waiting to see what the market shapes up like in the Dunmow area. Anybody got any other anecdotal evidence about prices in this area?
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