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Sss - Season Of The Sold Signs

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I was just wandering through my local streets yesterday & couldn't help but notice that everything is sold. I realised what a change had taken place this season. I also want to mention that I warned you lot, when the market turned, it would turn hard & catch you off guard. So your best recent chance to get a bargain really was Dec 2004 as I'd said back then.

For example, in January my purchase of a renovated 6 bed house for 590k fell through when the seller changed their mind. Yesterday I saw a 6 bed house in need of renovation in a much worse street for 730k in the window of an agent on Lavender Hill!

So that's HPI for you!

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Superb opportunity.

There are still idiots buying at the current prices, which means you still have a chance to get out of the market!

Go for it!

Edited by BandWagon

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I was just wandering through my local streets yesterday & couldn't help but notice that everything is sold. I realised what a change had taken place this season. I also want to mention that I warned you lot, when the market turned, it would turn hard & catch you off guard. So your best recent chance to get a bargain really was Dec 2004 as I'd said back then.

For example, in January my purchase of a renovated 6 bed house for 590k fell through when the seller changed their mind. Yesterday I saw a 6 bed house in need of renovation in a much worse street for 730k in the window of an agent on Lavender Hill!

So that's HPI for you!

And in 50 years time, these people will be sitting down to a nice family dinner with their children and grand children. One of the grand children will say "grandad tell us the story again of how you paid £1/2 million for a £30K house". At that point, the entire assembly will fall to floor choking with laughter (apart from two red faced grand parents).

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And in 50 years time, these people will be sitting down to a nice family dinner with their children and grand children. One of the grand children will say "grandad tell us the story again of how you paid £1/2 million for a £30K house". At that point, the entire assembly will fall to floor choking with laughter (apart from two red faced grand parents).

A more realistic tale would be:

"Sorry kids, when I pop my clogs (son of) TTRTR will rent this place out to someone else. Because I've had to piss all my pension money away on rent to him, there's only enough money in my account to pay for my sendoff and maybe 2 month's rent on your place."

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Funny really, as I just spent the last 2 days driving past massive new build developments plastered in "For Rent" signs. Landlords are offering "First Months Rent Free", obviously a sign that they are renting these pension investments so easily.

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I was just wandering through my local streets yesterday & couldn't help but notice that everything is sold. I realised what a change had taken place this season. I also want to mention that I warned you lot, when the market turned, it would turn hard & catch you off guard. So your best recent chance to get a bargain really was Dec 2004 as I'd said back then.

"Wake up!!! ... Hey Donnie!!! ... Donnie Darko!!! ... Wake up kid, you're on the green!!!" :D:P:lol:

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ttrtt - you must live in coated fluffy biscuit land.

aound here all there are a for sale signs and very long waits.

market withdrawing by vendors and signs saying 'reduced'. 'new price'. and 'help us'.

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ttrtt - you must live in coated fluffy biscuit land.

aound here all there are a for sale signs and very long waits.

market withdrawing by vendors and signs saying 'reduced'. 'new price'. and 'help us'.

Its strange - I also have noticed a mass of sold signs on my drive through Torquay yesterday - all over the place they were???

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I was just wandering through my local streets yesterday & couldn't help but notice that everything is sold. I realised what a change had taken place this season. I also want to mention that I warned you lot, when the market turned, it would turn hard & catch you off guard. So your best recent chance to get a bargain really was Dec 2004 as I'd said back then.

For example, in January my purchase of a renovated 6 bed house for 590k fell through when the seller changed their mind. Yesterday I saw a 6 bed house in need of renovation in a much worse street for 730k in the window of an agent on Lavender Hill!

So that's HPI for you!

I am in the same area as TTRTR, and here is what I have noticed: things were selling at the same prices as last year, and indeed 2 years ago.

But since about a month ago, there seems to have been a concerted effort by all EAs to push prices up for both sales and lettings. There are some crazy asking prices out there at the moment, but I think they have "missed the boat". The season is drawing to a close, people will be taking June off for the World Cup, and July - August is holiday time. I am very confident that they will not be selling or renting at these prices. Quite a few "no chain" properties - BTL getting out probably, and agents have told me that people are open to offers.

I also suspect that there are Johnny-come-lately BTLs about who have paid too much for their properties, and are asking silly rents to cover the mortgage. They should have done their calcs before buying, not after!

My landlord attempted to pass on a 3% rent increase ("as RPI has been 3% over the last year"). I said no way, agent came back to say he insisted. I told the agent that I would be moving out in that case.

Ten minutes later, the agent came back, tail between her legs. "The landlord says you can stay at the current rent". :lol:

Edited by Smell the Fear

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Funny that. In Cambridge the number of properties on RIghtmove has gone up from around 200 at the beginning of the year to about 280. And the number of job pages in the local paper has dropped from about 12 at the start of the year to 7 this week.

I've also just seen a property belonging to a local landlord, who has a lot of houses, for sale - after sitting for months on end with a "To Let" sign on it. And the local free colour mag has a longer property section than I've ever seen, with loads of rentals...and last week we had a bizarre card through the door from Bovis Homes offering £2000 in holiday money to anyone buying a new home, so they can have a holiday and a home this summer. With a photograph of a fit tanned young couple on the beach.

So everything in the garden's lovely, then.

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There was a 4 bed house sold for 380k in aug 2004.

Identical house came in jan 2005 for 380k(not greedy)

dropped to 350K

dropped to 330k

became famous SOLD subject to contract

Then became FRO SALE again

50k drop and still could not shift

whatever makes you happy TTRTR

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up here in the north west there i have noticed recentyl

- the BTL muppets which have definately increased as you can see a big increase in flats for sale or rent in the last 3 months - its like bad rash

- otherwise its dead. very few properties for sale consdiering the time of year. i have noticed even a lot of properties with for sale signs and the sign has dissapeared ie taken off the market.

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I am in the same area as TTRTR, and here is what I have noticed: things were selling at the same prices as last year, and indeed 2 years ago.

But since about a month ago, there seems to have been a concerted effort by all EAs to push prices up for both sales and lettings. There are some crazy asking prices out there at the moment, but I think they have "missed the boat". The season is drawing to a close, people will be taking June off for the World Cup, and July - August is holiday time. I am very confident that they will not be selling or renting at these prices. Quite a few "no chain" properties - BTL getting out probably, and agents have told me that people are open to offers.

I also suspect that there are Johnny-come-lately BTLs about who have paid too much for their properties, and are asking silly rents to cover the mortgage. They should have done their calcs before buying, not after!

My landlord attempted to pass on a 3% rent increase ("as RPI has been 3% over the last year"). I said no way, agent came back to say he insisted. I told the agent that I would be moving out in that case.

Ten minutes later, the agent came back, tail between her legs. "The landlord says you can stay at the current rent". :lol:

Hey STF, can I pull your leg?

Only I think I'm going to have to be quick because I remember you said that if annual HPI was above 0% this Summer you would eat your own leg....

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Around here there are a few SSTC and quite a few EA ads with "unexpectedly back on market." The problem is with chains breaking down and lack of FTBs to get them moving again. There are also a lot of "no upward chain" ads which deprives the market of a buyer once the property is sold.

We have to face it, lack of FTBs, unaffordability, rising IR and falling employment are combining to force the market into reality. This underpins the falling numbers applying for mortgages that we have seen recently.

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Hey STF, can I pull your leg?

Only I think I'm going to have to be quick because I remember you said that if annual HPI was above 0% this Summer you would eat your own leg....

Maybe if you can show me the post. I recall saying I would eat my own leg, but I don't recall the criteria for my cannibal barbecue.

p.s. asking price increases don't count as HPI!

Edited by Smell the Fear

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Ive been back in the mids for about a year - seen plenty of property in brum town centre lose double digit %value in 12 months (well, asking prices gone down but you know what i mean). Girl who sits opposite me at work has a pal whose been trying to sell her brum city centre flat for 2 years but cant (at least not at the price she bought it for)

What seems to be counter balancing situations like this is that prices seem strong at the top end (over 250K) which is keeping average prices on the up. Well, my opinion anyway. I've been looking at tons of properties that havnt sold in the last 12 months

It does seem to be taking forever though doesn't it? Everyone youngster I know is struggling with debts at the moment but the wheels keep turning and they all drive newer cars than me!!!!!!!

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TTRTR-

You should bear in mind that not everyone in here was able to buy before Dec 2004. I was on a 2 year training course 2000-2002 and then had to save up a decent deposit (i dont have parents who can lend me money, nor would i want them to even if they could).

I personally did try and buy 2 years ago, but the first property the vendor rushed the sale through and then 1 week before completion demanded another £10k (on a £99,500 tiny 1 bed flat). And the second property had damp everywhere(after being 'renovated'!).

This process lost me £1500 which i had to save up before trying to buy again- at which point i gave up for a while as the stress was unbearable.

So it's not all black and white..us idiots who haven't bought yet versus intelligent investors as you would like to make it out as.

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WaP

I did indeed say that I would eat my own leg. However, I was referring to HPI for the full year 2006. Let's wait and see. ;)

Here is the link Leg Eating

Oh I see. I remembered the Summer bit in the quote.

Your leg may well be safe then. (But your toes may start tingling by Autumn :unsure: )

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Guest Bart of Darkness

I was just wandering through my local streets yesterday & couldn't help but notice that everything is sold.

Aren't you supposed to live in Sweden? ;)

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I hate to admit this but 2 houses I've just called for the details for are Sold, but there's no sold board and there's no sign on Rightmove to suggest there under offer.

Hopefully they'll all fall through.

Edited by terrified

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Guest Winners and Losers

TTRTR-

You should bear in mind that not everyone in here was able to buy before Dec 2004. I was on a 2 year training course 2000-2002 and then had to save up a decent deposit (i dont have parents who can lend me money, nor would i want them to even if they could).

I personally did try and buy 2 years ago, but the first property the vendor rushed the sale through and then 1 week before completion demanded another £10k (on a £99,500 tiny 1 bed flat). And the second property had damp everywhere(after being 'renovated'!).

This process lost me £1500 which i had to save up before trying to buy again- at which point i gave up for a while as the stress was unbearable.

So it's not all black and white..us idiots who haven't bought yet versus intelligent investors as you would like to make it out as.

Yeah, but TTRTR and WAP have a combined age of 103.

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You really are the biggest W****r that has ever walked this earth. Nothing is selling my way. I told you so and it's still so.

I don't think you have any property. In fact I think you have not a pot to piss in.

A real landlord would not spend this much time on forum's. If you have any property, you have to be the saddest landlord in the world.

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Guest Winners and Losers

I can't speak for TTRTR but I paid my mortgage off in my 30s...

Yeah, well it was easy waayyyy back then. :rolleyes:

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  • 301 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% +
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      • Even
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      • up 5%



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