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Realistbear

Just Completed But More Bearish Than Ever

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I just received a call from my solicitor that our house purchase has completed. Peaked at £289k or so and we got in for £220k. Why? Tired of waitng. No too bad adeal. We lucked out a bit as the sale was a estate deal and the vendors had no idea of local market conditions and probably undersold by a bit as bungalows that are nice around my way go quickly if under £250k.* We made the offer to buy (£5k under asking and didn't want to go lower as I saw the next lot of wannabe buyers arrive when we were still looking and these wre no shills) within 2 hours of it hitting RM and there were 3 more offers that day but the Vendors went with us because we had owt to sell.

Anyway..................I am still in th bear camp and stick to my Crimbocast (the new HPC.co.uk challenge at Christmas every year when the brave put their heads on the block and guessimate where the year ahead will go.

*Anything over £250k is DIW. Large stuff is dropping heavily.

Edited by Realistbear

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as I saw the next lot of wannabe buyers arrive when we were still looking and these wre no shills) within 2 hours of it hitting RM and there were 3 more offers that day but the Vendors went with us because we had owt to sell.

And that my friends is why there's no HPC

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Grats. Buying a place as a home is (I think) acceptable at any time if you can afford it. Nothing wrong with that.

Waiting for a price crash when you clearly want a family home doesn't make sense, really... You have to live somewhere ;)

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I just received a call from my solicitor that our house purchase has completed.

You just became a VI, maybe give it a few weeks and you will be changing your name to RealistBull and calling us all nuts.

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And that my friends is why there's no HPC

The house is a bit of a one-off and the only 2 BR bungalow in a Cul de Sac of large 4 and 5 bedroom exec homes. We know about the builder and he has since retired but had a reppy for custom jobs and top rate materials.

It had dropped a good 25% or so and 20% down is a crash in my book.

IMO the market will drop by about 15% or so this year overall. The crash is going to continue for a few years and we may not see the sudden plunge we all hoped for but it will probably be down by 40-50% by the time its over. In real terms no IA or seasoning.

Renting around here is very expensive and we have been with friends for the past year and that grows old after awhile.

My recommendation if you are happy to wait: buy this winter if you want to get settled.

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I just received a call from my solicitor that our house purchase has completed. Peaked at £289k or so and we got in for £220k. Why? Tired of waitng. No too bad adeal. We lucked out a bit as the sale was a estate deal and the vendors had no idea of local market conditions and probably undersold by a bit as bungalows that are nice around my way go quickly if under £250k.* We made the offer to buy (£5k under asking and didn't want to go lower as I saw the next lot of wannabe buyers arrive when we were still looking and these wre no shills) within 2 hours of it hitting RM and there were 3 more offers that day but the Vendors went with us because we had owt to sell.

Anyway..................I am still in th bear camp and stick to my Crimbocast (the new HPC.co.uk challenge at Christmas every year when the brave put their heads on the block and guessimate where the year ahead will go.

*Anything over £250k is DIW. Large stuff is dropping heavily.

I'm hoping to pick up something similar for 100oz of the yellow stuff in a couple of years time :P

Edit: Kinda ties in nicely with your last post (down 40-50% in real terms). :)

Edited by Sine270

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I just received a call from my solicitor that our house purchase has completed. Peaked at £289k or so and we got in for £220k. Why? Tired of waitng. No too bad adeal. We lucked out a bit as the sale was a estate deal and the vendors had no idea of local market conditions and probably undersold by a bit as bungalows that are nice around my way go quickly if under £250k.* We made the offer to buy (£5k under asking and didn't want to go lower as I saw the next lot of wannabe buyers arrive when we were still looking and these wre no shills) within 2 hours of it hitting RM and there were 3 more offers that day but the Vendors went with us because we had owt to sell.

Anyway..................I am still in th bear camp and stick to my Crimbocast (the new HPC.co.uk challenge at Christmas every year when the brave put their heads on the block and guessimate where the year ahead will go.

*Anything over £250k is DIW. Large stuff is dropping heavily.

If what you are saying is all true (and not exaggerated and distorted as many of your posts) then Chicken Little is right, flip it and you could make a quick buck!! I would guess you could make at least 10-15K after expenses!! Go on, join the greedy after all that the name of the game in the UK!

---

Edited by wise_eagle

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You just became a VI, maybe give it a few weeks and you will be changing your name to RealistBull and calling us all nuts.

You dont become a VI after buying one house. After all, you need to live somewhere, so if you own 1 house, then you can simply live in it yourself, and it doesnt make any difference to your predicament if the housing market halves or doubles. It could only make a difference if you wanted to downsize or upsize, but that is depending upon circumstances.

VI in HPI have more than one house.

VI in HPC do not own any house.

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Good thing is you are now out of paper and into a hard asset. One of the main reasons I don't want to buy right now is I simply don't want to be tied down in the UK. The country was shit before the financial crisis and it ain't improved any since. I find the mentality of 'screw over the next' guy to be the main issue here and I'm pig sick of the being involved in the 'rat race' just to afford a basic standard of living.

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Congrats RB !!!!

Buying a house as a home if you can afford it, nothing wrong with that. Enjoy your new home

Always enjoy your posts, Dont always agree with them but that is what forms healthy debate.

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You dont become a VI after buying one house. After all, you need to live somewhere, so if you own 1 house, then you can simply live in it yourself, and it doesnt make any difference to your predicament if the housing market halves or doubles. It could only make a difference if you wanted to downsize or upsize, but that is depending upon circumstances.

VI in HPI have more than one house.

VI in HPC do not own any house.

I was not being 100% serious.

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And that my friends is why there's no HPC

+1

I find the mentality of 'screw over the next' guy to be the main issue here and I'm pig sick of the being involved in the 'rat race' just to afford a basic standard of living.

Sadly those two issues are not unique to Britain as of course you are aware, I don't know where to recommend, nowhere's much good frankly

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Congratulations RB from a fellow property VI - come and join me on housepriceramp.con and leave these rent losers behind :D:D:D

Incredible - Google has already crawled HPC in the past 4 mins and the post above mentioning housepriceramp is already indexed

http://www.google.com/search?sourceid=ie7&q=housepriceramp&rls=com.microsoft:en-gb:IE-SearchBox&ie=UTF-8&oe=UTF-8&rlz=1I7DSGI

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You dont become a VI after buying one house. After all, you need to live somewhere, so if you own 1 house, then you can simply live in it yourself, and it doesnt make any difference to your predicament if the housing market halves or doubles. It could only make a difference if you wanted to downsize or upsize, but that is depending upon circumstances.

VI in HPI have more than one house.

VI in HPC do not own any house.

If the housing market halves (it wont) but if it did it makes a hell of a difference to your predicament whether you had a house at the time or you kept your money in cash.

But this correction is going to take a very long time to play out. In my area (Nottingham) it peaked in about 2004 so we are about correction plus seven years with perhaps another four years to play. You simply don't live for ever and waiting eleven years to catch the optimum just isn't realistic.

My own position is that me and my partner have half a million plus in cash and are waiting in an £80p/w housing association rental. The main reason we are still renting is that home ownership, which I have done most of my life (it was my partner's h/a flat not mine), is a ball and chain carrying loads of baggage. I am actually happier when I own zilch but the clothes I stand in.

My own worries is the half million becoming reichmark fire kindling because the indebted sweep the board ( as the Greeks are about to do as feckless cheats) because they are losing the game. The MPC have already swept the board and are playing Russian roulette with the pound and changed the game rules re. the 2% target. Merv has every insentive to change the rules with his super-annuated pension package and his heavy real estate play (the Oast house and s*****y London pad).

I think RB is probably wise to buy rather than continuing a naked short with the c**t King playing loose with the pound.

Edited by crashmonitor

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Sadly those two issues are not unique to Britain as of course you are aware, I don't know where to recommend, nowhere's much good frankly

The only people who say that are those that have never been anywhere or those that would moan even in paradise.

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Fair play Realistbear. If you can afford the place without struggling then why not.

I caved in in Dec 2009. Bought a 3 bed detached at 169K - peak price was £239 for the same style properties on the road.

My purchase is still the cheapest purchase on the street since 2003 out of roughly 20 detached houses sold.

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If what you are saying is all true (and not exaggerated and distorted as many of your posts) then Chicken Little is right, flip it and you could make a quick buck!! I would guess you could make at least 10-15K after expenses!! Go on, join the greedy after all that the name of the game in the UK!

+ 1

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Quick turnaround!

Vaguely recall you having an offer accepted after mine, and yet I'm only just about to exchange. Completion not for another couple of weeks.

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Mods...can we ban RB as from Monday. :lol:

He is now a VI/Troll and will be un-bearable with his future posts.

I suggest he signs up to Mumsnet asap....they will be glad to hear his house-sharing stories and how he put up with unruly friends' kids etc :D:D:D

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congrats...

I completed my house purchase 10 months ago now (£149k purchase peak 2007 price was £240k) after renting flats for 9 years... For those still waiting your not missing much, I'm still getting used to the fact I now have an endless list of "jobs" to do to the house rather than my home being somewhere to eat/sleep/watch telly in between trips to work and the pub.

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The only people who say that are those that have never been anywhere or those that would moan even in paradise.

UNFAIR! Everywhere I have been (and stayed some time) IS sh1te. 20+ countries

But you may be right about paradise, I am a mega whinge.

Edited by mon-keyhanger

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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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