House Prices Now At 2004 Levels
06 June 2009, 03:33 PM
#1021
You have done the right thing by saying thats your final offer .
If YOU can sit tight and play the game as SSU says then great ,do so and see what happens .I beleive if its meant to be then it will happen .
Maybe look at some more properties and see if any thing else grabs you .
Wait a week and speak again with the Agents to see if they will budge down to your offer .
If you have set your heart on This one then as you say 2.5k more is not massive money .(SSU shakes his head !!)
Good Luck ,hope you get it .
If YOU can sit tight and play the game as SSU says then great ,do so and see what happens .I beleive if its meant to be then it will happen .
Maybe look at some more properties and see if any thing else grabs you .
Wait a week and speak again with the Agents to see if they will budge down to your offer .
If you have set your heart on This one then as you say 2.5k more is not massive money .(SSU shakes his head !!)
Good Luck ,hope you get it .
10 June 2009, 01:54 PM
#1022
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Any news on the above offer?
The current news looks like the drops are at an end - or until more properties come on to the market:-
"Rising interest from potential buyers coupled with falling numbers of sellers is stabilising UK house prices, according to surveyors.
New buyer inquiries increased for the seventh month in a row in May - at the fastest rate since 1999, said the Royal Institution of Chartered Surveyors.
But there were fewer sellers, continuing a trend of the last two years, the survey found.
The government's own figures reported a rise in prices from March to April.
Two surveys from prominent lenders recently reported an increase in house prices in May"
Source:- BBC
The current news looks like the drops are at an end - or until more properties come on to the market:-
"Rising interest from potential buyers coupled with falling numbers of sellers is stabilising UK house prices, according to surveyors.
New buyer inquiries increased for the seventh month in a row in May - at the fastest rate since 1999, said the Royal Institution of Chartered Surveyors.
But there were fewer sellers, continuing a trend of the last two years, the survey found.
The government's own figures reported a rise in prices from March to April.
Two surveys from prominent lenders recently reported an increase in house prices in May"
Source:- BBC
10 June 2009, 02:52 PM
#1023
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Well thought I would post an update 
We decided to go to 162,500 as a "meet half way" kind of offer but they came back saying no, we want 165k. So we have told agent thats as far as we are going.
Not sure if they are trying to push us to their 165k but as yet every time they have rejected we have came back the next day with an offer so to them we might seem very keen and they think we have got to 162k so they (we) will go that bit more to their 165k.
To be honest I thought they would have gone for that for the sake of 2.5k and they got a sale.
Left things with them now, see if they come back to us now they know we aint so keen, so to speak.
We do really like it though, nice area, nothing really needs doing to it etc etc. I can see it getting to the point though of do we want to lose it for the sake of 2.5k?
They have only reduced the price once (jumped from 175k to 165k in one step) so my thinking is they could come down another couple of grand for the sake of selling their house.
Bastids!
We decided to go to 162,500 as a "meet half way" kind of offer but they came back saying no, we want 165k. So we have told agent thats as far as we are going.
Not sure if they are trying to push us to their 165k but as yet every time they have rejected we have came back the next day with an offer so to them we might seem very keen and they think we have got to 162k so they (we) will go that bit more to their 165k.
To be honest I thought they would have gone for that for the sake of 2.5k and they got a sale.
Left things with them now, see if they come back to us now they know we aint so keen, so to speak.
We do really like it though, nice area, nothing really needs doing to it etc etc. I can see it getting to the point though of do we want to lose it for the sake of 2.5k?
They have only reduced the price once (jumped from 175k to 165k in one step) so my thinking is they could come down another couple of grand for the sake of selling their house.
Bastids!
tell the Agent you have put in an offer on another property
get the Agent to put the heebie jeebies up um
10 June 2009, 02:58 PM
#1024
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From a much more respected and informed source:
House prices in Britain rose last month, confirming that the slump in the south of England has levelled out, according to the Halifax Building Society,’ ran the story in The Times. ‘The Halifax’s latest quarterly survey shows that prices in general rose by 0.5%, and the indications are of a definite bottoming-out’.
The above statements were not made this week or last week. In fact, they were made in October 1990. House prices didn’t bottom for another four years.
Now, just as then, you should ignore the outbreak of bullish talk across the media on UK house prices. This is a dead cat bounce.
House prices in Britain rose last month, confirming that the slump in the south of England has levelled out, according to the Halifax Building Society,’ ran the story in The Times. ‘The Halifax’s latest quarterly survey shows that prices in general rose by 0.5%, and the indications are of a definite bottoming-out’.
The above statements were not made this week or last week. In fact, they were made in October 1990. House prices didn’t bottom for another four years.
Now, just as then, you should ignore the outbreak of bullish talk across the media on UK house prices. This is a dead cat bounce.
10 June 2009, 07:40 PM
#1025
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No more news as yet regarding our 162,500 offer 
There are two other houses around the same area, also with Spicer, so we have been thinking of arranging a viewing on the off chance this gets back to the sellers and they then make a move, but I’m not holding my breath, plus we prefer this house over the others anyway.
It will soon be getting to the point of do we want to lose it for the sake of 2.5k now but trying to hold out for a change in their circumstances i.e. they might find somewhere and need to then sell quicker?? We are hoping!
There are two other houses around the same area, also with Spicer, so we have been thinking of arranging a viewing on the off chance this gets back to the sellers and they then make a move, but I’m not holding my breath, plus we prefer this house over the others anyway.
It will soon be getting to the point of do we want to lose it for the sake of 2.5k now
but trying to hold out for a change in their circumstances i.e. they might find somewhere and need to then sell quicker?? We are hoping!
Last edited by stiscooby; 10 June 2009 at 07:42 PM.
10 June 2009, 09:49 PM
#1026
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If they find somewhere they will bite your hand off ..... go and view the other places this weekend. Put the pressure on!
There is a tough fact here, even if you offer £165k and they accept - they haven't found anywhere yet .... and, of course, may not!
There is a tough fact here, even if you offer £165k and they accept - they haven't found anywhere yet .... and, of course, may not!
11 June 2009, 07:00 AM
#1027
If you end up offering the £165 and they accept ,you could always find something wrong in the survey and knock em back down again .!!!!
(to them )
But obviously I would not condone that type of behaviour and they could turn around and tell you to smoke it after you have forked out for the survey ,but its an option .
Hang tight a little while longer if you can .
You can always put a cheeky offer in on one of the others your looking at ,and let this get back to the vendors via the Agents .!!! Wont do any harm .
Keep in there .
(to them )But obviously I would not condone that type of behaviour and they could turn around and tell you to smoke it after you have forked out for the survey ,but its an option .
Hang tight a little while longer if you can .
You can always put a cheeky offer in on one of the others your looking at ,and let this get back to the vendors via the Agents .!!! Wont do any harm .
Keep in there .
13 June 2009, 07:21 PM
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Looks like Mortgage Rates are about to increase over the next few days ..... not sure why - but, it will kick the Housing revival in the teeth!
"Borrowers should brace themselves for a wave of steep mortgage rate increases over the next few days as all the main lenders are expected to raise the cost of loans.
Brokers believe five-year fixed rates will be hit hardest, but two and three-year deals are also likely to rise.
“There is no question that fixed rates will go up,” said Ray Boulger, senior technical manager at John Charcol. “I would be surprised if any of the main lenders did not put rates up over the next week.”
Fixed mortgage rates have been rising for the past few weeks as banks have had to pay more for funds, even though the base interest rate has stayed low. But a sudden jump in swap rates – which determine the cost of fixed-rate lending – has accelerated the trend.
Nationwide Building Society yesterday increased rates by as much as 0.86 per cent, one of the sharpest rises in at least a year. Its popular five-year rate, which is only available to borrowers with a deposit of 40 per cent, has risen from 4.98 per cent to 5.84 per cent. Yorkshire Building Society and Northern Rock have also increased rates"
Source:- FT.com / Personal Finance / Property & Mortgages - Mortgage rates set to rise steeply in next few days
"Borrowers should brace themselves for a wave of steep mortgage rate increases over the next few days as all the main lenders are expected to raise the cost of loans.
Brokers believe five-year fixed rates will be hit hardest, but two and three-year deals are also likely to rise.
“There is no question that fixed rates will go up,” said Ray Boulger, senior technical manager at John Charcol. “I would be surprised if any of the main lenders did not put rates up over the next week.”
Fixed mortgage rates have been rising for the past few weeks as banks have had to pay more for funds, even though the base interest rate has stayed low. But a sudden jump in swap rates – which determine the cost of fixed-rate lending – has accelerated the trend.
Nationwide Building Society yesterday increased rates by as much as 0.86 per cent, one of the sharpest rises in at least a year. Its popular five-year rate, which is only available to borrowers with a deposit of 40 per cent, has risen from 4.98 per cent to 5.84 per cent. Yorkshire Building Society and Northern Rock have also increased rates"
Source:- FT.com / Personal Finance / Property & Mortgages - Mortgage rates set to rise steeply in next few days
13 June 2009, 07:55 PM
#1029
Suicidal .!!!!
If it happens ,then backwards we will go .
I read this on BBC news the other day and thought who in the right mind thinks we need this right now ,just as the green shoots are foraging up for the Summer sunlight .!!!!!!!!!!!
If it happens ,then backwards we will go .
I read this on BBC news the other day and thought who in the right mind thinks we need this right now ,just as the green shoots are foraging up for the Summer sunlight .!!!!!!!!!!!
24 June 2009, 01:34 PM
#1033
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Well, further evidence to indicate that the crash is finished?
BBC NEWS | Business | House sales 'continuing to rise'
The number of homes sold in the UK has continued to rise, according to HM Revenue and Customs (HMRC).
Some 62,000 residential properties costing more than £40,000 were sold in May, up 7% on the previous month.
BBC NEWS | Business | House sales 'continuing to rise'
The number of homes sold in the UK has continued to rise, according to HM Revenue and Customs (HMRC).
Some 62,000 residential properties costing more than £40,000 were sold in May, up 7% on the previous month.
24 June 2009, 04:24 PM
#1034
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But ....
Homeowners Face Negative Equity Nightmare Warns Fitch Ratings With Northampton Worst Hit | Business | Sky News
"... Some 15% of homeowners are trapped in negative equity, according to a new report ..."
Dave
Homeowners Face Negative Equity Nightmare Warns Fitch Ratings With Northampton Worst Hit | Business | Sky News
"... Some 15% of homeowners are trapped in negative equity, according to a new report ..."
Dave
24 June 2009, 04:47 PM
#1035
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But ....
Homeowners Face Negative Equity Nightmare Warns Fitch Ratings With Northampton Worst Hit | Business | Sky News
"... Some 15% of homeowners are trapped in negative equity, according to a new report ..."
Dave
Homeowners Face Negative Equity Nightmare Warns Fitch Ratings With Northampton Worst Hit | Business | Sky News
"... Some 15% of homeowners are trapped in negative equity, according to a new report ..."
Dave
24 June 2009, 07:22 PM
#1036
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And this will help!
Deposit hike for Barclays' new mortgage customers | Mail Online
"... Barclays has increased the minimum deposit it asks new customers to put down to get a mortgage.
Borrowers now have to have a deposit of 20 per cent, equivalent to £30,000 on a £150,000 property.
Until now they qualified for a deal with a 15 per cent deposit.
The bank has also increased a number of its fixed-rate mortgages.
The previous two-year fixed deal of 5.29 per cent with a 20 per cent deposit has been increased to 5.99 per cent with a £999 fee.
Monthly repayments on a typical £150,000 mortgage would be £966 and the total cost over two years including fees £24,183.
Those with smaller deposits would be better off choosing Yorkshire Bank's deal which requires a minimum deposit of 10 per cent, is the same rate, and has no fee.
Total cost on this would be £23,173. ..."
Dave
Deposit hike for Barclays' new mortgage customers | Mail Online
"... Barclays has increased the minimum deposit it asks new customers to put down to get a mortgage.
Borrowers now have to have a deposit of 20 per cent, equivalent to £30,000 on a £150,000 property.
Until now they qualified for a deal with a 15 per cent deposit.
The bank has also increased a number of its fixed-rate mortgages.
The previous two-year fixed deal of 5.29 per cent with a 20 per cent deposit has been increased to 5.99 per cent with a £999 fee.
Monthly repayments on a typical £150,000 mortgage would be £966 and the total cost over two years including fees £24,183.
Those with smaller deposits would be better off choosing Yorkshire Bank's deal which requires a minimum deposit of 10 per cent, is the same rate, and has no fee.
Total cost on this would be £23,173. ..."
Dave
24 June 2009, 08:43 PM
#1038
24 June 2009, 10:08 PM
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From a much more respected and informed source:
House prices in Britain rose last month, confirming that the slump in the south of England has levelled out, according to the Halifax Building Society,’ ran the story in The Times. ‘The Halifax’s latest quarterly survey shows that prices in general rose by 0.5%, and the indications are of a definite bottoming-out’.
The above statements were not made this week or last week. In fact, they were made in October 1990. House prices didn’t bottom for another four years.
Now, just as then, you should ignore the outbreak of bullish talk across the media on UK house prices. This is a dead cat bounce.
House prices in Britain rose last month, confirming that the slump in the south of England has levelled out, according to the Halifax Building Society,’ ran the story in The Times. ‘The Halifax’s latest quarterly survey shows that prices in general rose by 0.5%, and the indications are of a definite bottoming-out’.
The above statements were not made this week or last week. In fact, they were made in October 1990. House prices didn’t bottom for another four years.
Now, just as then, you should ignore the outbreak of bullish talk across the media on UK house prices. This is a dead cat bounce.
The VI's will do anything to make you believe we have reached the bottom. It does not sit right with me when there are daily job losses, interest rate rises, costs of goods going up, fuel, food etc.
24 June 2009, 11:45 PM
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Ah just noticed this thread has popped up again, I forgot about it as haven't been on here for a while...
Update............ Well, the sellers wouldn't budge at all on 165k so we went in with 165k which they accepted, house is ours and they have taken it off the market We decided in the end to go for it as we got to the stage where we would have been disappointed if we lost it for the sake of a couple of grand and with it being our first house we wouldn't of gotten anything better in the area for the money as this house is pretty much ideal for us on every level (location, size/rooms etc etc).
Sorted mortgage yesterday (that’s a scary prospect if you haven't done it before, signing up for a lifetime of dept ) we went with a fixed 5 year rate with NatWest for 4.89% as with it being our first house/mortgage we want the security for a few years knowing what we are paying each month (and lets face it the rates are only going to go up), this seemed a pretty good deal, £299 arrangement fee and £200 survey fee which looking around seemed pretty good.
So it's all now in motion, hopefully nothing will fall through and it will all go smoothly
Update............ Well, the sellers wouldn't budge at all on 165k so we went in with 165k which they accepted, house is ours and they have taken it off the market
We decided in the end to go for it as we got to the stage where we would have been disappointed if we lost it for the sake of a couple of grand and with it being our first house we wouldn't of gotten anything better in the area for the money as this house is pretty much ideal for us on every level (location, size/rooms etc etc).Sorted mortgage yesterday (that’s a scary prospect if you haven't done it before, signing up for a lifetime of dept
) we went with a fixed 5 year rate with NatWest for 4.89% as with it being our first house/mortgage we want the security for a few years knowing what we are paying each month (and lets face it the rates are only going to go up), this seemed a pretty good deal, £299 arrangement fee and £200 survey fee which looking around seemed pretty good.So it's all now in motion, hopefully nothing will fall through and it will all go smoothly
Last edited by stiscooby; 24 June 2009 at 11:50 PM.
25 June 2009, 08:00 AM
#1044
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Hej!
My apartmnet has declined by 17% for 2009. It now lesses than 3000 euro square metre!
United Kingdom of Britain is great better than Danmark. Spaeked to bank and Danmark getting badder next new year!
Rod.
My apartmnet has declined by 17% for 2009. It now lesses than 3000 euro square metre!
United Kingdom of Britain is great better than Danmark. Spaeked to bank and Danmark getting badder next new year!
Rod.
25 June 2009, 08:45 AM
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United Kingdom of Britain is, as you rightly say, in pretty good shape due to the Economic Policies put in place.
Most people blame Labour for this bright outlook ........
stiscooby - glad you have bought, the 1st house is always the one bought with the heart .... I wish you all the best in it
Most people blame Labour for this bright outlook ........
stiscooby - glad you have bought, the 1st house is always the one bought with the heart .... I wish you all the best in it
25 June 2009, 09:30 AM
#1046
[QUOTE=SunnySideUp;8785495]United Kingdom of Britain is, as you rightly say, in pretty good shape due to the Economic Policies put in place.
Most people blame Labour for this bright outlook ........ [QUOTE]
Deluded..
Most people blame Labour for this bright outlook ........ [QUOTE]
Deluded..
Last edited by fatscoobfella1; 25 June 2009 at 09:31 AM.
25 June 2009, 09:40 AM
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Pete if the UK has a "bright outlook", i'd hate to see your definition of a bleak, financially bankrupt outlook which rank amateurs like the Governor of the Bank of England seem to be suggesting we're in for. I know it stirs things up a bit, but even YOU can't believe the crap you print about this government.
25 June 2009, 11:19 AM
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Today is Cost of Government Day. Average taxpayers in Britain now have to work almost half the year – 176 days – to pay their share of the cost of running Gordon Brown’s administration. Every penny we have earned since January 1 has gone to feed the state leviathan. It is only from today that, at last, you have started working for yourselves and your families.
More than five months of our servitude – from New Year until May 14 – were spent working to pay taxes, such as income tax, national insurance, council tax, VAT and many others including the notorious “stealth” taxes. But all that effort was still not enough to feed the monster, and when he had run out of our money, the Chancellor, Alistair Darling, had to borrow – at £20 million an hour – to pay his bills.So for the past six weeks, day in, day out, we have been working to fund that borrowing. No wonder Mervyn King, the governor of the Bank of England, warned yesterday of the “truly extraordinary” scale of deficits.
Government debt: That’ll be £2.2 trillion, please - Telegraph
Last edited by unclebuck; 25 June 2009 at 11:30 AM.
