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Jester

The Beginning Of The End

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I've been looking to buy myself a house ever since my marriage split up. I do have the problem of having to house the children from my marriage so I do need a reasonable house. I've been monitoring the situation for ages now and got the shock of my life today when a three bedroomed detached house popped up on rightmove that was within my price range. I'm happy with a nice terraced house or a semi but I thought that a detached property would be out of the question. Maybe I'll be able to buy a suitable property at last.

Has anyone else noticed something similar?

Edited by Jester

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Yes Jes

Everyone like yourself whom been steadfast in the faceof the "Brown bulsh*t bubble" is about to get the reward of a lifetime, both for yourself & kids....Well done !

Mike

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3 houses I've been watching for weeks went from 150k, 145k and 140k to 135k, 130k and 125k this week. I call that 10% discounts already, and the fear stage isn't even in full swing yet.

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3 houses I've been watching for weeks went from 150k, 145k and 140k to 135k, 130k and 125k this week. I call that 10% discounts already, and the fear stage isn't even in full swing yet.

Once sellers start to think that if they don't reduce now they will lose more by having to reduce later then the fun will start.

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I've viewed properties and on the whole they've needed a lot of work doing to them. My personal valuation has usually been £30,000 less than the asking price. The seller have all been very nice people and have let me know that they're not willing to negotiate. The estate agents have confirmed this. Those houses are still on the market.

I viewed one about a month ago. The estate agent called me and asked if I was still interested. I said yes but not at the asking price. She asked how much I would be prepared to offer. So I told her. She confirmed that it was still out of the question.

I honestly believe that I am being fair here. Time will tell I suppose.

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Its funny but I havent looked at prices of houses in my area for 12-16 months.

I am glad to hear they are falling but I have just lost all interest.

I cant be bothered to even look.

I will wait another 1-2 years and perhaps buy one if they are dirt cheap.

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Its funny but I havent looked at prices of houses in my area for 12-16 months.

I am glad to hear they are falling but I have just lost all interest.

I cant be bothered to even look.

I will wait another 1-2 years and perhaps buy one if they are dirt cheap.

Yes I'm with you here. I'm not in a hurry. I'm renting at the moment. The house isn't really big enough but it was in the village where my kids were growing up. It's nice enough though and we have a good landlord. Moving can be a hassel. I'm house sitting for my sister right now she has a lovely terraced house near Barnsley. I bet it would cost a fraction of what I'm looking to pay at home. Maybe I'll move here once the kids are off my hands.

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I've viewed properties and on the whole they've needed a lot of work doing to them. My personal valuation has usually been £30,000 less than the asking price. The seller have all been very nice people and have let me know that they're not willing to negotiate. The estate agents have confirmed this. Those houses are still on the market.

I viewed one about a month ago. The estate agent called me and asked if I was still interested. I said yes but not at the asking price. She asked how much I would be prepared to offer. So I told her. She confirmed that it was still out of the question.

I honestly believe that I am being fair here. Time will tell I suppose.

i wanted to offer on a house (in fact I think ALL OFFERS by LAW must be put to the vendor) - but the estate agent WOULD NOT call the vendor! He said my offer would just "make him angry". This was a house that went on the market in ..... 2006!

He lives in dubai (in a bubble I guess) and this house has languished on the market since October 2006. He dropped it by 10% in 2007 (BEFORE the first little crash) after an estate agent that I know told him he should be marketing it for 35% less than he was to get a buyer.

We offered 10% under what the estate agent told him his price should be in 2007!

My "offer" never got to him because apparently he's scary when he's angry (perhaps its Lou Ferrigno) and the estate agent didn't want to upset him.

Anyway, all this was because I was under pressure from Mrs Oil a couple of months back ... but after showing her the news articles over the last week - even she's coming round to believing the property market "might be in a bubble"...

I wouldn't be suprised to see the entire market around here crash and this guy STILL not drop his price. 4 years on the market!

edit: typo

Edited by peakoil

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The housing market is finished without liar loans.

Gobsmacking that they have still been allowed to go through considering what happenedd to the banks - nearly half the transactions were still enabled through self-cerification loans.

The end.

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The housing market is finished without liar loans.

Gobsmacking that they have still been allowed to go through considering what happenedd to the banks - nearly half the transactions were still enabled through self-cerification loans.

The end.

I believe it finally breached the 50% mark at the end. The figure 54% rings a bell actually. Considering that many of these loans will have been to near the bottom of the market, the rug has now been well and truely removed, just leaving a few random plates left spinning. The end is here for property ramp world. The stupidly high asking prices still being purveyed by half of the sellers in the face of austerity and sensibility deft gravity only in the same way as the cartoon character Wily Coyote could (briefly) deft gravity. :rolleyes:

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Houses in my area in the £300k-£500k price range are priced at 2007 prices or higher and most are selling too albeit not many.

Edited by Kazuya

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i wanted to offer on a house (in fact I think ALL OFFERS by LAW must be put to the vendor) - but the estate agent WOULD NOT call the vendor! He said my offer would just "make him angry". This was a house that went on the market in ..... 2006!

He lives in dubai (in a bubble I guess) and this house has languished on the market since October 2006. He dropped it by 10% in 2007 (BEFORE the first little crash) after an estate agent that I know told him he should be marketing it for 35% less than he was to get a buyer.

We offered 10% under what the estate agent told him his price should be in 2007!

My "offer" never got to him because apparently he's scary when he's angry (perhaps its Lou Ferrigno) and the estate agent didn't want to upset him.

Anyway, all this was because I was under pressure from Mrs Oil a couple of months back ... but after showing her the news articles over the last week - even she's coming round to believing the property market "might be in a bubble"...

I wouldn't be suprised to see the entire market around here crash and this guy STILL not drop his price. 4 years on the market!

edit: typo

It's anecdotals like this that make me pray for a doubling of council tax on empty properties; screw the greedy, let the people who want to have families and build a future have a chance :angry:

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In my area, the quality of the houses available in the region I am looking at (200-250k) have been improving. But not fast enough. There are still far too many people saying things like "I could not afford the house I have now...".

IMHO, at some point there has to be some forced sellers entering the market; this will place a fair value on properties. Houses are not effectively 'marked to market' as the market is still rigged against new entrants. It has been a long wait for me; thought it was going to happen in 07, along came QE etc to protect the indebted. Pissed off that I am still waiting; but there is no other choice given my meagre income.

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It's anecdotals like this that make me pray for a doubling of council tax on empty properties; screw the greedy, let the people who want to have families and build a future have a chance :angry:

Isn't there a law that says if you've lived for x number of years in a property it's yours?

In this particular case there are grounds for squatting and grabbing ownership.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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