long time lurking Posted January 18, 2017 Share Posted January 18, 2017 23 minutes ago, hamish1985 said: Read the description of this one http://www.rightmove.co.uk/property-for-sale/property-62759792.html why haven't they taken the offer as yet if that's true?!!! Only been on the market since October.... Repossessions generally work along these lines Quote Link to comment Share on other sites More sharing options...
Untoward Posted January 18, 2017 Share Posted January 18, 2017 (edited) Count, I wanted to respond to a few of your posts today but thought this would be a good place to spew forth my observations and thoughts. Thank you for all of your entertaining posts and seemingly, keeping HPC going single-handedly at times. Not seen your twitter account but fairplay for spreading the word. Having read the original title to this thread, I assumed you meant the BTL brigade were being bailed. I was keen to see your reasoning but you changed the title after a prompt. To me, it feels as though the latest money printing exercise is giving a golden handshake to the BTLetters. The Golden Goose is being killed but they are getting one hell of a kick back for the carcass............if they got/get out in time. Otherwise, "IMHO" it is going to be a bloodbath. First time buyers are being duped, as was ever thus, in the biggest Ponzi of all time. My search area is Cities and Towns in North to South Somerset/Wilts border. The initial asking prices are up (guestimate) about 20-30% on a year ago. It really feels like the last fools are being tempted in and a lot of them will be first time buyers / builders / ignorant BTLers (ignorant of tax changes). Along with the fools jumping in with both feet and offering asking price, there have been lots of drops and some really inconsistent pricing, sometimes in the same street for the equivalent house. I personally feel that this volatility and schizophrenic pricing is a signal to an out of control housing market and economy.......and most importantly, one that is going down the s h i t t e r. - all IMHO of course ;0) Edited January 18, 2017 by Untoward Quote Link to comment Share on other sites More sharing options...
Nabby81 Posted January 18, 2017 Share Posted January 18, 2017 2 hours ago, Dave Beans said: Even though the flat is been up for sale since last July, it was put up by ten grand at the end of December. Welcome to Luton haha that kinda thing is the norm ..Sadly some still end up selling Flats for auction in Luton will increase IMO currently 88 1 bed flats for sale yet council approved 600 more in one sitting last week ..Somewhere around 500-1000 in planning stage currently as well.. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 18, 2017 Author Share Posted January 18, 2017 30 minutes ago, Untoward said: Count, I wanted to respond to a few of your posts today but thought this would be a good place to spew forth my observations and thoughts. Thank you for all of your entertaining posts and seemingly, keeping HPC going single-handedly at times. Not seen your twitter account but fairplay for spreading the word. Having read the original title to this thread, I assumed you meant the BTL brigade were being bailed. I was keen to see your reasoning but you changed the title after a prompt. To me, it feels as though the latest money printing exercise is giving a golden handshake to the BTLetters. The Golden Goose is being killed but they are getting one hell of a kick back for the carcass............if they got/get out in time. Otherwise, "IMHO" it is going to be a bloodbath. First time buyers are being duped, as was ever thus, in the biggest Ponzi of all time. My search area is Cities and Towns in North to South Somerset/Wilts border. The initial asking prices are up (guestimate) about 20-30% on a year ago. It really feels like the last fools are being tempted in and a lot of them will be first time buyers / builders / ignorant BTLers (ignorant of tax changes). Along with the fools jumping in with both feet and offering asking price, there have been lots of drops and some really inconsistent pricing, sometimes in the same street for the equivalent house. I personally feel that this volatility and schizophrenic pricing is a signal to an out of control housing market and economy.......and most importantly, one that is going down the s h i t t e r. - all IMHO of course ;0) Cheers dude. Your probably onto something there. Its like the death throws of a walrus. What wr ate witnessing is nonsensical unless you've got £100 billion of fake cash and are just buying anything you can with it.... Quote Link to comment Share on other sites More sharing options...
EnglishinWales Posted January 19, 2017 Share Posted January 19, 2017 No of places to rent in my area been steadily climbing since November though...still plenty of enthusiasm for BTL out there. Quote Link to comment Share on other sites More sharing options...
AvoidDebt Posted January 26, 2017 Share Posted January 26, 2017 Couple more turds to add to this thread. HMO 'entrepreneurs' heading for exit... http://www.rightmove.co.uk/s6p/57828304 http://www.rightmove.co.uk/s6p/57795469 Quote Link to comment Share on other sites More sharing options...
Wolfie84 Posted January 26, 2017 Share Posted January 26, 2017 13 minutes ago, AvoidDebt said: Couple more turds to add to this thread. HMO 'entrepreneurs' heading for exit... http://www.rightmove.co.uk/s6p/57828304 http://www.rightmove.co.uk/s6p/57795469 The first one. "Brain Cox are delighted to offer..." Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 26, 2017 Author Share Posted January 26, 2017 48 minutes ago, AvoidDebt said: Couple more turds to add to this thread. HMO 'entrepreneurs' heading for exit... http://www.rightmove.co.uk/s6p/57828304 http://www.rightmove.co.uk/s6p/57795469 £1M+ for that....money is worthless now Quote Link to comment Share on other sites More sharing options...
ThePiltdownMan Posted January 26, 2017 Share Posted January 26, 2017 1 hour ago, AvoidDebt said: http://www.rightmove.co.uk/s6p/57795469 Who would want to live next door to a £1M+ house converted into 11 bedsits. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted January 26, 2017 Share Posted January 26, 2017 Come on it is in Harrow! Quote Link to comment Share on other sites More sharing options...
long time lurking Posted January 26, 2017 Share Posted January 26, 2017 On 1/18/2017 at 10:07 PM, Untoward said: . Along with the fools jumping in with both feet and offering asking price, there have been lots of drops and some really inconsistent pricing, sometimes in the same street for the equivalent house. Seeing the same overall, but when it comes to the inconsistencies of pricing i`m now pretty sure it`s all about the leverage involved Some thing worth trying is checking the last sold date and price ...it`s uncanny how the cheaper ones were bought for less and usually years before the crazy priced ones..........they are starting to feed on each other IMO Quote Link to comment Share on other sites More sharing options...
monkeyman1974 Posted January 26, 2017 Share Posted January 26, 2017 4 hours ago, AvoidDebt said: Couple more turds to add to this thread. HMO 'entrepreneurs' heading for exit... http://www.rightmove.co.uk/s6p/57828304 http://www.rightmove.co.uk/s6p/57795469 The Pinner Net Yield (stamp, additional stamp, costs, net/gross)... must be sub 3% Harrow seems like a con.. It's a HMO, but says let on a AST... but anyway imagine living next to that. Like those do-gooding bastards in Brighton who brought a free house for refugees.. Obviously not next to their house... Quote Link to comment Share on other sites More sharing options...
Nmp Posted January 26, 2017 Share Posted January 26, 2017 1 hour ago, monkeyman1974 said: The Pinner Net Yield (stamp, additional stamp, costs, net/gross)... must be sub 3% Harrow seems like a con.. It's a HMO, but says let on a AST... but anyway imagine living next to that. Like those do-gooding bastards in Brighton who brought a free house for refugees.. Obviously not next to their house... Pinner road property appears to be number 121 looking on street view, nicely spray painted number not blurred by Google, last sold as 121, 121a and 121b, Agents link/postcode take you to Harrow volunteer centre Ground Floor Flat, 121, Pinner Road, Harrow, Greater London HA1 4EU £135,000Flat, Leasehold04 Feb 2003 (rent advertised at £750 in 2003, and £785 in 2008 according to zoopla archive) 121b, Pinner Road, Harrow, Greater London HA1 4EU £97,000Flat, Leasehold14 Mar 2003 121a, Pinner Road, Harrow, Greater London HA1 4EU £111,500Flat, Leasehold28 Feb 2005 Quote Link to comment Share on other sites More sharing options...
AvoidDebt Posted January 27, 2017 Share Posted January 27, 2017 Both listed today. Top end BTL - if there is such a thing.. http://www.rightmove.co.uk/s6p/46585425 http://www.rightmove.co.uk/s6p/64280543 Quote Link to comment Share on other sites More sharing options...
Bear Hug Posted January 27, 2017 Share Posted January 27, 2017 4 minutes ago, AvoidDebt said: http://www.rightmove.co.uk/s6p/64280543 It will be interesting to see what this goes for on its auction on 13 Feb. I am sure it will end up unsold. Quote Link to comment Share on other sites More sharing options...
disenfranchised Posted January 27, 2017 Share Posted January 27, 2017 16 minutes ago, AvoidDebt said: Both listed today. Top end BTL - if there is such a thing.. http://www.rightmove.co.uk/s6p/46585425 http://www.rightmove.co.uk/s6p/64280543 First opportunity offered is to invest £8.75m at 4.3% gross yield without any maintenance, voids, or fees. Minus whatever capital value is lost when the market goes bang. I get over 4% net on investment income whilst sat on my backside paying for a nominee service and a consolidated annual tax statement. Anybody buying London BTL must be utterly insane. Quote Link to comment Share on other sites More sharing options...
highcontrast Posted January 27, 2017 Share Posted January 27, 2017 19 minutes ago, disenfranchised said: First opportunity offered is to invest £8.75m at 4.3% gross yield without any maintenance, voids, or fees. Minus whatever capital value is lost when the market goes bang. I get over 4% net on investment income whilst sat on my backside paying for a nominee service and a consolidated annual tax statement. Anybody buying London BTL must be utterly insane. Shirley any potential buyer/btl slumlord needs to ask themselves why the vendors would they be selling if they're currently such a big money spinner? or am i being too simplistic? Quote Link to comment Share on other sites More sharing options...
Peter Hun Posted January 27, 2017 Share Posted January 27, 2017 http://www.mortgageintroducer.com/paragon-results-demonstrate-buy-let-slump/ Paragon Mortgages saw buy-to-let’s share of trading fall from 87% from October to December 2015 to just 48.6% one year later. The results go some way to explaining why the lender branched into residential lending this month, as buy-to-let trading fell from £400.9m from October to December 2015 to £185.2m in the same three months of 2016. Quote Link to comment Share on other sites More sharing options...
MattW Posted January 27, 2017 Share Posted January 27, 2017 On 18/01/2017 at 4:35 PM, AndyFTB said: There are several in Norwich, and if you check Property Bee some are being reduced and still not shifting... http://www.rightmove.co.uk/property-for-sale/property-58267691.html The former nurses accommodation block. I was always intrigued as to why this development wasn't fully refurbed at the same time as the houses at the other end of the row. Been listed since March! Quote Link to comment Share on other sites More sharing options...
AvoidDebt Posted January 28, 2017 Share Posted January 28, 2017 Here's another one. Potential London BTLers (if they still exist) are spoilt for choice.. http://www.rightmove.co.uk/s6p/60432056 Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted January 28, 2017 Share Posted January 28, 2017 20 hours ago, AvoidDebt said: Both listed today. Top end BTL - if there is such a thing.. http://www.rightmove.co.uk/s6p/46585425 http://www.rightmove.co.uk/s6p/64280543 I saw the price on that and thought kensington, Chelsea, then saw the postcode, Stepney green, holy FCK, total madness... Quote Link to comment Share on other sites More sharing options...
thewig Posted January 28, 2017 Share Posted January 28, 2017 Greatest fool seeks greater fool again. How does that one go? Quote Link to comment Share on other sites More sharing options...
SOLZHENITSYN Posted January 28, 2017 Share Posted January 28, 2017 20 hours ago, Bear Hug said: It will be interesting to see what this goes for on its auction on 13 Feb. I am sure it will end up unsold. Based on those numbers that's a 6.2% gross yield. Read on and you see this includes : "The licence agreement rents include council tax, gas, electricity, provision of cleaning, sheets/towel change each week, light breakfast provisions" awful investment! Quote Link to comment Share on other sites More sharing options...
Bear Hug Posted January 28, 2017 Share Posted January 28, 2017 4 hours ago, SOLZHENITSYN said: Based on those numbers that's a 6.2% gross yield. Read on and you see this includes : "The licence agreement rents include council tax, gas, electricity, provision of cleaning, sheets/towel change each week, light breakfast provisions" awful investment! Ok, that does make it even worse than I initially thought it was. If this is short term lets or even B&B business, then there are definitely some additional costs and voids should be expected. Would they be accounted for in "approximately" £467,575 p.a. rent? Net yield could easily be 3% on this. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 1, 2017 Author Share Posted February 1, 2017 This might become my favourite thread http://www.rightmove.co.uk/property-for-sale/property-64355744.html 5 2 bed houses in Wellingborough for the bargain price of £620K. has to be worth about £200K Quote Link to comment Share on other sites More sharing options...
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