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gruffydd

Viewed A Property - Felt Very Sad When I Left

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Hi, just viewed a property which neighbours uncles farm in S W Wales.

Lovely farm worker lives there - her husband is a builder. Both early 40s.

Both had seen work dry up and planning to move to S France, where both have lived before and have contacts. He's been offered a building contract out there for 12 months paying 1/3 more per hour than he gets here in Wales.

House history - on market for 310k 2 years ago, now 250k and falling. Said they would take offers. They just want to go, and go quick.

I was just so sad about the situation. 2 people desperate to get out of the county yet not understanding how far prices need to fall because of the feckwit of an EA. Despite the fact they've both been left in half-time or less employment because of the meltdown.

I did a quick look around and decided it would have to be no more than 150k for me to take any interest in it. The EA was completely clueless. Living on planet zog.

And this is before IRs start rising fast. It's so depressing.

Edited by gruffydd

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Hi, just viewed a property which neighbours uncles farm in S W Wales.

Lovely farm worker lives there - her husband is a builder. Both early 40s.

Both had seen work dry up and planning to move to S France, where both have lived before and have contacts. He's been offered a building contract out there for 12 months paying 1/3 more per hour than he gets here in Wales.

House history - on market for 310k 2 years ago, now 250k and falling. Said they would take offers. They just want to go, and go quick.

I was just so sad about the situation. 2 people desperate to get out of the county yet not understanding how far prices need to fall because of the feckwit of an EA. Despite the fact they've both been left in half-time or less employment because of the meltdown.

I did a quick look around and decided it would have to be no more than 150k for me to take any interest in it. The EA was completely clueless. Living on planet zog.

And this is before IRs start rising fast. It's so depressing.

You starting up a portfolio!?

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10 years ago you pick up 10 cottages in West Wales for 150K.

I honestly now believe there is not a single cottage, barn or wreck that has not been converted into a second home or holiday home. Wrecked barns which have been empty for hundreds of years have been snapped up and converted.

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10 years ago you pick up 10 cottages in West Wales for 150K.

I honestly now believe there is not a single cottage, barn or wreck that has not been converted into a second home or holiday home. Wrecked barns which have been empty for hundreds of years have been snapped up and converted.

I am noticing a massive uptick these last 2 weeks of holiday cottages hitting the market - and signs of desperation. Nothings moving. Nor will it. Seeing people losing their jobs left right and centre. Seeing places up for rent not being filled.

Saw a derelict place go on the market a couple of months ago - loads of viewings, sealed bid offers. Guess what - it's back on the market just this last week. Yet another sign of reality colliding with idiocy.

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Hi, just viewed a property which neighbours uncles farm in S W Wales.

Lovely farm worker lives there - her husband is a builder. Both early 40s.

Both had seen work dry up and planning to move to S France, where both have lived before and have contacts. He's been offered a building contract out there for 12 months paying 1/3 more per hour than he gets here in Wales.

House history - on market for 310k 2 years ago, now 250k and falling. Said they would take offers. They just want to go, and go quick.

I was just so sad about the situation. 2 people desperate to get out of the county yet not understanding how far prices need to fall because of the feckwit of an EA. Despite the fact they've both been left in half-time or less employment because of the meltdown.

I did a quick look around and decided it would have to be no more than 150k for me to take any interest in it. The EA was completely clueless. Living on planet zog.

And this is before IRs start rising fast. It's so depressing.

Stick to your guns, time is after all on your side ! Good luck in your search for a HOME :)

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10 years ago you pick up 10 cottages in West Wales for 150K.

I honestly now believe there is not a single cottage, barn or wreck that has not been converted into a second home or holiday home. Wrecked barns which have been empty for hundreds of years have been snapped up and converted.

Yeah, seen this happen but now negative market pressure is making itself felt - massive borrowing financed this kind of stuff. I know of one farmer who spend over a million converting his barns into 5 letting units which are now empty 80% of the time and he's struggling with repaying borrowings and this is before IR rises.

Edited by gruffydd

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Stick to your guns, time is after all on your side ! Good luck in your search for a HOME :)

I don't mind waiting but feel very sad for people like the guys I just met. Very sad indeed. Completely duped and now panicking like rabbits in my headlights.

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Both had seen work dry up and planning to move to S France, where both have lived before and have contacts. He's been offered a building contract out there for 12 months paying 1/3 more per hour than he gets here in Wales.

SmellsLikeBullshit.png

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He was probably earning about £7-8 an hour here - employed electricians and carpenters I know typically earn sub £10/hr here in W Wales - general builders probably even less - that's if they're lucky enough to get any work at the moment.

Edited by gruffydd

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He was probably earning about £7-8 an hour here - employed electricians and carpenters I know typically earn sub £10/hr here in W Wales - general builders probably even less - that's if they're lucky enough to get any work at the moment.

Exactly, so how is anyone going to come along and give him £250,000 for his house?

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Exactly, so how is anyone going to come along and give him £250,000 for his house?

Exactly - people have often relied on second homers before but things have changed.

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He was probably earning about £7-8 an hour here - employed electricians and carpenters I know typically earn sub £10/hr here in W Wales - general builders probably even less - that's if they're lucky enough to get any work at the moment.

Which part of West Wales?

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Sir Benfro - Pembrokeshire

Is it that bad there.....I mean in terms of hourly rates? I'm not that far away. I spoke to this guy who works for a builders' merchant recently and he said they were very busy in that general area. I'm not sure if that was a very good barometer though. And I haven't heard of many job losses except for a few teachers and lorry drivers But one thing is for sure and that is the pubs and clubs are very quiet.

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Yeah, very poor rathes generally if you're employed - you can always go self-employed but not always a good option.

From what I see there are major probs - I have seen redundancies all over the place - latest ones I've heard of were CCW.

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Is it that bad there.....I mean in terms of hourly rates? I'm not that far away. I spoke to this guy who works for a builders' merchant recently and he said they were very busy in that general area.

If you mean somebody who works in a builders merchant's yard or office then he will be taking home around a thousand pounds a month, so he won't be buying a £250,000 house any time soon.

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If you mean somebody who works in a builders merchant's yard or office then he will be taking home around a thousand pounds a month, so he won't be buying a £250,000 house any time soon.

No he won't be buying but the business was busy or so he told me. I thought this meant there was a lot of building activity going on so a lot of work for brickies and carpenters etc. So the hourly rates I thought might be quite good. But you are correct that not many locals are buying 250k houses. It has been described as a bit of a crisis.

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Yeah, seen this happen but now negative market pressure is making itself felt - massive borrowing financed this kind of stuff. I know of one farmer who spend over a million converting his barns into 5 letting units which are now empty 80% of the time and he's struggling with repaying borrowings and this is before IR rises.

Sorry. Where the f**k did a farmer get a million quid to turn his sheep-pens into five mug-rent-paying-slave-boxes, and why precisely the f**k should I give a flying sh!t about why they are now empty 80% of the time, and he's effectively bankrupt?!?!

Burn, mutherf*cker burn, is all I can say. Or do some proper farming and earn some cash that way.

Can't you see this is why we're in the sh!t we are? "Any thick tw@t can turn a healthy profit in property" is no way a decent economic model, for a whole country.

I usually like your posts Gruffyd. But FFS get real on this one...

B

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Hi, just viewed a property which neighbours uncles farm in S W Wales.

Lovely farm worker lives there - her husband is a builder. Both early 40s.

Both had seen work dry up and planning to move to S France, where both have lived before and have contacts. He's been offered a building contract out there for 12 months paying 1/3 more per hour than he gets here in Wales.

House history - on market for 310k 2 years ago, now 250k and falling. Said they would take offers. They just want to go, and go quick.

I was just so sad about the situation. 2 people desperate to get out of the county yet not understanding how far prices need to fall because of the feckwit of an EA. Despite the fact they've both been left in half-time or less employment because of the meltdown.

I did a quick look around and decided it would have to be no more than 150k for me to take any interest in it. The EA was completely clueless. Living on planet zog.

And this is before IRs start rising fast. It's so depressing.

I dont get why you are sad, is it because the place is £250k instead of the £150k that you want to pay or are you just being a woman?

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Sorry. Where the f**k did a farmer get a million quid to turn his sheep-pens into five mug-rent-paying-slave-boxes, and why precisely the f**k should I give a flying sh!t about why they are now empty 80% of the time, and he's effectively bankrupt?!?!

Burn, mutherf*cker burn, is all I can say. Or do some proper farming and earn some cash that way.

Can't you see this is why we're in the sh!t we are? "Any thick tw@t can turn a healthy profit in property" is no way a decent economic model, for a whole country.

I usually like your posts Gruffyd. But FFS get real on this one...

B

He borrowed it - no, that's not a joke. No need to give a damn about him - I don't - it was a pathetic business decision.

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I dont get why you are sad, is it because the place is £250k instead of the £150k that you want to pay or are you just being a woman?

It was because the sellers were soooooooo deluded and the estate agent was encouraging that delusion big time. The sellers just couldn't see the reality of what was going on around them and in their own lives. They couldn't see how that reality would impact on the price of their property. Brainwashed by morons backed up by a massive propaganda machine.

I felt sorry for them but pure hatred for the estate agents, the bankers, the media and the government.

Edited by gruffydd

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  • 284 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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