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Malthus

Dream House

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Another one bites the dust , purchased a lovely house that ticks all the boxes for the long term at RV -20%.

Still think the market has some downward potential but the time was right for us, bought with a small mortgage and its a home not an investment or money box.

The one thing I was reminded of in the buying process is just how full if it EAs are, but knowledge of the market and a thick skin pay off in the end.

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Another one bites the dust , purchased a lovely house that ticks all the boxes for the long term at RV -20%.

Still think the market has some downward potential but the time was right for us, bought with a small mortgage and its a home not an investment or money box.

The one thing I was reminded of in the buying process is just how full if it EAs are, but knowledge of the market and a thick skin pay off in the end.

Good luck.

The house I offered on last month at the 'market rate', i.e. the price the one next door sold at the week before, has gone SSTC today...that asking price around 100K above the market value !!!

I wont be buying any time soon.

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Congrats Malthus! Welcome to the paying RV -20% club :lol: Good to know I'm not the only one here getting a house at a sensible price.

Patience certainly pays off.

Another one bites the dust , purchased a lovely house that ticks all the boxes for the long term at RV -20%.

Still think the market has some downward potential but the time was right for us, bought with a small mortgage and its a home not an investment or money box.

The one thing I was reminded of in the buying process is just how full if it EAs are, but knowledge of the market and a thick skin pay off in the end.

Edited by paul65

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Another one bites the dust , purchased a lovely house that ticks all the boxes for the long term at RV -20%.

... and another ones gone...

Congratulations!

Are there any of the old bears left?:unsure:

I'm not ready to call the bottom of the market yet. There is the slight problem that the UK economy is looking more like a bannana republic every day.:ph34r:

Had a discussion will a colleague yeaterday. She is wanting to sell a property she inherited. But the market is bad at the moment and they are going to let it until the market recovers. <where is a ranting smiley when you need one>

ranting-smiley-face.gif?1302011413

"RECOVERS! RECOVERS?"

The housing market is in the process of recovering from a bank lending credit bubble.

Though it does look like that idiot at number 11 Downing Street is going to give everyone their deposits. MAD = Mutually Assured Destruction!

Edited by Belfast Boy

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Well done Malthus - Enjoy.

Not many left BB . Many of those posting on here when the boom was still in flow (verdanta trader and many many more) are no longer around and of those that are many have bought such as myself. I bought at the start of last year having seen exactly what i wanted . May lose about 15% on what I paid in the short to medium term but I would of spent that on rent.

There will be further falls inflation adjusted but we cant be far from a nominal bottom in many types of property / regions in N.Ireland

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Well done Malthus - Enjoy.

Not many left BB . Many of those posting on here when the boom was still in flow (doccyboy verdanta trader and many many more) are no longer around and of those that are many have bought such as myself. I bought at the start of last year having seen exactly what i wanted . May lose about 15% on what I paid in the short to medium term but I would of spent that on rent.

There will be further falls inflation adjusted but we cant be far from a nominal bottom in many types of property / regions in N.Ireland

Doccy still reads the NI forum and has asked me to pass on a message

Congratulations Malthus I hope you and your family have many happy years in your new home. I haven't bought yet since I have not found the right house at the right price. So I will continue renting until I do find one. Hope everyone is well and happy and enjoying life.

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Enjoy the new home :)

... and another ones gone...

Congratulations!

Are there any of the old bears left?:unsure:

I sold the other month and am renting awaiting something appearing which will hopefully be soon. The houses I'm interested in around RV are not hanging around any time at all though, people really are pouncing as soon as a decent one enters that range. At least I'm in a position to act quickly now too :|

Edited by Sure thing!

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We have just bought at RV-15% and believe it or not paid slightly over the asking price which I would have said we would NEVER do. However the details are very important....

However what made me happy with this decision was the realistic pricing of the house and our position. There were 2 other bidders, (one of whom we know was definitely real!), the house was exactly what we wanted (size, location, priced based on condition) and most importantly it was in the lower end of our budget. I had been following the market in the area for a year and this was the house that was best priced to suit our needs in that time.

We borrowed less than a third of what the banks were offering us (which were crazy amounts in my opinion anyway) and even with rates we are paying 20% less than what we budgeted for rent. We have bought with the mindset of the property losing 10% a year (I've been following the RPPI and this site for the past year!) which is only marginally more than what we would have paid on rent. It was the right house, in the right place, at the right time for us.

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Great news Malthus. Can I ask what area you are in?

Thanks for all the best wishes guys

We bought in the mid down area. Still loads of property for sale at unrealistic prices by people who refuse to give away their property.

Realistic prices see a sale in 6 to 8 weeks is my assessment of the market.

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Realistic prices see a sale in 6 to 8 weeks is my assessment of the market.

I would agree there, we had an offer within a day and agreed the following week.

An estate agent last week tried to tell me that the smaller houses were moving well and this activity will now filter through to the higher priced houses so hes not recommending they reduce prices despite nothing selling. I just smiled as lifes too short to argue with that sort of thinking but with people being told crap like that it's no wonder theres so many unrealistic prices.

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It's 2009 since I posted last - probably having got depressed waiting for the elusive bottom. My "dream house" is probably seen by many as a ridiculous luxury in these austere times - a little second home somewhere up on the North Coast. (But we all have to have our dreams!) I suppose I first wished for it as far back as 2000 but could never imaging affording it during the boom. Now, well maybe I can. The only thing holding me back is, well, waiting for that elusive bottom.

It's good to read that many of the old timers have finally bought. Perhaps, like myself, they had the feeling that you can only wait so long - even if there is a potential downside of finding you've paid too much in a few years time.

With prices at 2004 levels (Nationwide) - probably 2002/2003 levels when adjusted for inflation - is now the time to buy for the long term? I've found something affordable that ticks all my boxes, no other bidders, at about -25%RV. Realistically, I don't think prices will shoot up again and I'll never have another chance of getting my "dream" house. But I hadn't envisaged, when I posted many years ago and the whole crash started to unfold, how tired I would get of waiting for it to end.

Any thoughts?

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It's 2009 since I posted last - probably having got depressed waiting for the elusive bottom. My "dream house" is probably seen by many as a ridiculous luxury in these austere times - a little second home somewhere up on the North Coast. (But we all have to have our dreams!) I suppose I first wished for it as far back as 2000 but could never imaging affording it during the boom. Now, well maybe I can. The only thing holding me back is, well, waiting for that elusive bottom.

It's good to read that many of the old timers have finally bought. Perhaps, like myself, they had the feeling that you can only wait so long - even if there is a potential downside of finding you've paid too much in a few years time.

With prices at 2004 levels (Nationwide) - probably 2002/2003 levels when adjusted for inflation - is now the time to buy for the long term? I've found something affordable that ticks all my boxes, no other bidders, at about -25%RV. Realistically, I don't think prices will shoot up again and I'll never have another chance of getting my "dream" house. But I hadn't envisaged, when I posted many years ago and the whole crash started to unfold, how tired I would get of waiting for it to end.

Any thoughts?

A few of my folk’s friends have bought in the North Coast (Ballycastle, Cushendall and Portstewart). I'd honestly say prices here, especially with new builds are probably at 2000/2001 level. The one in Ballycastle bought a 3 bed apartment for 90K two years ago; similar ones can be got for 60 now.

I would say be really aggressive with your offers. Looking at some of the DETNI sales reports (if I'm reading this correctly) there were probably less than 50 sales in the whole Moyle district in 2012, with some quarters showing zero sales. RV -25% would be the minimum I'd go for.

You could even get RV-25% and get a small holding thrown in for free.

http://www.propertypal.com/61-magheramore-road-with-13-acres-of-land-ballycastle/88413#photo-5

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I have witnessed over the last couple of weeks a house go down by 5 grand and then this week go up by 5 grand!!

This is probably more to do with manipulating the listing sites rankings more than anything else.

Gets them up on top of the recently updated lists and on the landing page briefly.

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Good advice but easier said than done. A few weeks ago on another property with no other offers I put in an offer 10k below the asking price which was rejected, against my better judgement I went up to 5k below - rejected again. No deal.

It's almost hard to believe that in the current climate in that area a seller would reject a no-chain deal for the sake of 5k. I suppose they hope they've priced at the bottom of the market - some hope!

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  • 238 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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