Vespasian Posted May 16, 2008 Share Posted May 16, 2008 In a fit of weakness today, I popped into a housing development in Hillsborough today. Saw the showhouse, and a couple of others - there were quite a few for sale. We asked how much the showhouse was - were told offers in the region of £650k.http://www.propertynews.com/brochure.php?r...p;p=ECSECS10771 I cheekily asked, how much under £650k would they accept - but the EA lady wouldn`t be drawn. We asked about another one and were told it was reserved. She then suggested that if we were interested in it, and willing to sign a contract rather than just pay a holding deposit we could nab it! Nice, I thought, that she would suggest some gazumping. We left shortly afterwards in our Mondeo, and the showhouse lady left in her BMW convertible Sale agreed at £499950, although could have gone for less http://www.propertynews.com/brochure.php?r...p;p=ECSECS10771 Quote Link to comment Share on other sites More sharing options...
Belfast Boy Posted May 19, 2008 Share Posted May 19, 2008 New development - Westfort, Cookstown - up to £75,000 price reductions - click here. Big sign on the Westland Road Cookstown. I nearly lost control of the car Quote Link to comment Share on other sites More sharing options...
Sogy Posted May 19, 2008 Share Posted May 19, 2008 I nearly lost control of the car Don't crash yet! You've gotta live to see the £150K reductions! Quote Link to comment Share on other sites More sharing options...
sophia Posted May 19, 2008 Share Posted May 19, 2008 imo still too dear for cookstown- strange looking semis too Quote Link to comment Share on other sites More sharing options...
getdoon Posted May 20, 2008 Share Posted May 20, 2008 http://propertynews.com/brochure.php?r=1&a...p;p=TRLTRL49302 Quote Link to comment Share on other sites More sharing options...
spring Posted May 23, 2008 Share Posted May 23, 2008 (edited) I've seen so many houses on Property News this week with a tacky little diagonal strip on their picture saying "new price". The only thing is, Property Bee hasn't detected a reduction...those sneaky EAs! I think someone has said this before, but I believe technology is going to help the market crash faster. Before, we had to rely on EAs and experts etc to tell us what the market was like. We had to trust them as only they knew the figures. Now, I don't ask anyone what the market is like. I discuss it with no-one. I just use Property Bee, Paul's auction site and on the ground reports from u guys. And u know what, there's f**k all selling and new properties being added every day. And the Property News site is starting to look like a used car supermarket with all it's tacky SALE graphics and stupid slogans. they're getting desperate...good. Edited May 23, 2008 by spring Quote Link to comment Share on other sites More sharing options...
Vespasian Posted May 23, 2008 Share Posted May 23, 2008 And the Property News site is starting to look like a used car supermarket with all it's tacky SALE graphics and stupid slogans. they're getting desperate...good. Got the perfect house here, very cheap, one careful owner! Quote Link to comment Share on other sites More sharing options...
Belfast Boy Posted May 25, 2008 Share Posted May 25, 2008 I'm sorry, some people deserve what is coming to them!!! I just spent tonight trying to tell someone, what is coming - and they still think it is a good time to buy a house??? Good luck... enjoy our NEGITIVE EQUITY... YOU IDIOT!!! Personally, I'll wait until house prices stop dropping by 10 thousand pounds a year. I'll wait until house prices start dropping by ONLY thousands of pounds a year!!! Quote Link to comment Share on other sites More sharing options...
Vespasian Posted May 25, 2008 Share Posted May 25, 2008 (edited) I'm sorry, some people deserve what is coming to them!!!I just spent tonight trying to tell someone, what is coming - and they still think it is a good time to buy a house??? Good luck... enjoy our NEGITIVE EQUITY... YOU IDIOT!!! Personally, I'll wait until house prices stop dropping by 10 thousand pounds a year. I'll wait until house prices start dropping by ONLY thousands of pounds a year!!! Well, each to his own. The sad thing is people never needed to worry too much about about the financial sense of buying a home for your family until recently. You went to the bank, got told how much you could borrow and bought a house in keeping with your income, which would rise in value with earnings. Now, you have to worry about NE, jumbo mortgages, speculators & liar loans. To be honest, I might take a look at the market next Spring, and make some seriously low offers. The penny is dropping and people know the game is up Edited May 25, 2008 by Vespasian Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted May 25, 2008 Share Posted May 25, 2008 I just spent tonight trying to tell someone, what is coming - and they still think it is a good time to buy a house??? Alot of FTB's are still of the attitude that you must buy at any cost; you have not done well in life until you've bought a house. Who cares if you have no money at all for the next 25 years - you own a house! Hurrah! Quote Link to comment Share on other sites More sharing options...
subby Posted May 25, 2008 Share Posted May 25, 2008 I'm sorry, some people deserve what is coming to them!!!I just spent tonight trying to tell someone, what is coming - and they still think it is a good time to buy a house??? Good luck... enjoy our NEGITIVE EQUITY... YOU IDIOT!!! Personally, I'll wait until house prices stop dropping by 10 thousand pounds a year. I'll wait until house prices start dropping by ONLY thousands of pounds a year!!! 2.12am must have been a right old pissup though Quote Link to comment Share on other sites More sharing options...
YoungFTB Posted May 25, 2008 Share Posted May 25, 2008 I'm sorry, some people deserve what is coming to them!!!I just spent tonight trying to tell someone, what is coming - and they still think it is a good time to buy a house??? Good luck... enjoy our NEGITIVE EQUITY... YOU IDIOT!!! Personally, I'll wait until house prices stop dropping by 10 thousand pounds a year. I'll wait until house prices start dropping by ONLY thousands of pounds a year!!! I wouldn't waste your time BB, infact I wouldn't bother getting annoyed by it Quote Link to comment Share on other sites More sharing options...
Belfast Boy Posted May 28, 2008 Share Posted May 28, 2008 I'm no expert but I would say that a lot of sellers are waiting until the end of the Spring selling season before making a more long-term decision. When is the end of the 'Spring bounce?' Surely June is the time when people stop buying houses and start planning summer holidays? Quote Link to comment Share on other sites More sharing options...
azogar Posted May 28, 2008 Share Posted May 28, 2008 When is the end of the 'Spring bounce?' Surely June is the time when people stop buying houses and start planning summer holidays? here you are BB, a present for you (since you're always being asked for it to be updated): http://www.telegraph.co.uk/money/graphics/...07/cccom107.gif Quote Link to comment Share on other sites More sharing options...
Belfast Boy Posted May 28, 2008 Share Posted May 28, 2008 (edited) here you are BB, a present for you (since you're always being asked for it to be updated):http://www.telegraph.co.uk/money/graphics/...07/cccom107.gif Thanks PP Looks like a UK graph. Edit: Doh! It is a UK graph. Interesting to think, if using average house prices vs incomes for Northern Ireland, that peak would be nearly twice that size! Edited May 28, 2008 by Belfast Boy Quote Link to comment Share on other sites More sharing options...
Belfast Boy Posted May 29, 2008 Share Posted May 29, 2008 (edited) P.S. I assume everyone heard that Nationwide figures for may were down 2.5% MoM (a new record) and down 4.8% YoY (6.9% is the 90s record - will be beaten in a month or so at this rate! )? 2.5 multiplied by 12 would be a 30% drop in a year... It's dangerous to extrapolate, but it'll be interesting to see how it turns out! Nah... it's fun to extrapolate. The difference between 1990 and now, is the credit crunch. When banks were lending 125% everyone could have a house or two. And anyone who wanted to get on the ladder could get a self-cert mortgage. They have essentially used up, most of the next few years worth of house buyers, with loose lending criteria. The banks have now tightened lending criteria and will have to wait for a few years, until most people save up the 5-10% deposits now required. The price of most houses today is determined by a persons ability to borrow. And that ability to borrow has been reduced by the credit crunch. So where will there be firm support for house prices again? Mortgage payments = rent payments possibly? Edited May 29, 2008 by Belfast Boy Quote Link to comment Share on other sites More sharing options...
wayoutwest Posted May 31, 2008 Share Posted May 31, 2008 I am sure the subject of upfront EA fees has been discussed before. But I know someone about to put their house on the market, East Belfast, and they were being asked for £300 straight off. Is this common practice? Can anyone recommend an EA in this area? Thanks. Quote Link to comment Share on other sites More sharing options...
talksalot81 Posted May 31, 2008 Share Posted May 31, 2008 They have essentially used up, most of the next few years worth of house buyers, with loose lending criteria. A most insightful comment. I think I will use that one myself! Quote Link to comment Share on other sites More sharing options...
Belfast Boy Posted May 31, 2008 Share Posted May 31, 2008 A most insightful comment. I think I will use that one myself! Due to the credit crunch; there is now a gap between current house prices and what people can now borrow to buy a house. Either banks start reckless lending again, to support current prices (not going to happen). Or house prices will have to fall to levels that people can now afford (going to happen). It is that simple. Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted May 31, 2008 Share Posted May 31, 2008 The price of most houses today is determined by a persons ability to borrow. Which just shows how stupid people are. Instead of paying a reasonable price, pay as much as you can. In what other tranactions would this even be considered!? None! Customer: "Hello, I'd like a copy of todays paper, how much will that be?" Shop assistant: "How much money do you have in your pocket?" Customer: "£20" Shop assistant: "That'll be twenty quid then" Quote Link to comment Share on other sites More sharing options...
dieselfreak Posted June 1, 2008 Share Posted June 1, 2008 Nutter ???? Just wondered what you thought of this... A proptery close to me on sale a few months back for £425k, 6 bedroom, 1.5 story, large garden etc etc some headcase "bought" it, but sale fell through due to the sale of the buyers house falling though (so EA informs). The developer now has the property on the market again, and added £100k to property see below: http://www.keyholeestateagents.com/cannagola.htm Is this just the developer hoping that someone will offer say £400k and think they are getting a bargin, or have they just lost the plot? Regards D HAHAHAHAHHAAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA How times have changed.. My own post from last summer above. The house has now got a large sign on the road beside it. TO LET 1 BED APARTMENT TO LET OFFICE UNITS AVAILABLE FROM £250 PER MONTH. Would planning approval not be required for this under change of use ? Greed seems to have got somone in major do do here. Quote Link to comment Share on other sites More sharing options...
z man Posted June 2, 2008 Share Posted June 2, 2008 driving past UPS on lisburn Road this morning, 6 people queing up waiting for it to open, word is its for the Woodbrook development in Lisburn. Quote Link to comment Share on other sites More sharing options...
talksalot81 Posted June 2, 2008 Share Posted June 2, 2008 driving past UPS on lisburn Road this morning, 6 people queing up waiting for it to open, word is its for the Woodbrook development in Lisburn. Sounds like madness to me.... why queue up for property that has interest from others when there are thousands of other properties which have had absolutely zero interest? Quote Link to comment Share on other sites More sharing options...
pod Posted June 2, 2008 Share Posted June 2, 2008 There's an "A" list celeb appearing there at the opening. May be autograph hunters... Quote Link to comment Share on other sites More sharing options...
subby Posted June 2, 2008 Share Posted June 2, 2008 who is it? Do you know??? didn't know Helen Carson was classed as A list Quote Link to comment Share on other sites More sharing options...
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