House Prices Now At 2004 Levels
24 June 2011, 09:10 PM
#2581
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Well, I offered 15% OFF asking just 4 days ago. I am a cash buyer.
This on a Flat which has been on the market for 14 months ...
The offer was 20% under the 2007 peak selling prices ...
I thought it a fair offer - the Agent didn't!!
He said what the Vendor would drop to - about 6% Off asking.
I upped my offer to 12% Off .... and have left them to stew .....
This on a Flat which has been on the market for 14 months ...
The offer was 20% under the 2007 peak selling prices ...
I thought it a fair offer - the Agent didn't!!
He said what the Vendor would drop to - about 6% Off asking.
I upped my offer to 12% Off .... and have left them to stew .....
Last edited by pslewis; 24 June 2011 at 09:12 PM.
24 June 2011, 10:22 PM
#2582
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Sounds fair to me, depends if the vendor is motivated, and how greedy the agent is.
Had a good one happen to me recently. Saw a shell of flat in a not too brilliant area last month. All needed replacing, kitchen, bathroom, windows, everything. Worked out how much it would cost to bring it to a reasonable, rentable standard and figured an offer based on that. Worked out as a massive 25% under the asking. Nothing to lose so phoned the agent to be told that the flat was underpriced and the asking was now 25% HIGHER than it has been advertised for the last year. Think he took my laughter as a no FPMSL
With hindsight they done me a favour really
Had a good one happen to me recently. Saw a shell of flat in a not too brilliant area last month. All needed replacing, kitchen, bathroom, windows, everything. Worked out how much it would cost to bring it to a reasonable, rentable standard and figured an offer based on that. Worked out as a massive 25% under the asking. Nothing to lose so phoned the agent to be told that the flat was underpriced and the asking was now 25% HIGHER than it has been advertised for the last year. Think he took my laughter as a no FPMSL
With hindsight they done me a favour really
Last edited by his-n-her-scoobs; 24 June 2011 at 10:35 PM.
26 June 2011, 09:39 PM
#2583
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We have had our place on the market for 6 months now, just about a month ago we dropped 10% off the offers over price, but still it has not enticed an offer from anyone. We are on 14 viewers now, to say we are getting frustrated is an understatement!
We are maybe going to go down the route of letting it out and renting a bigger place for ourselves. Any advice on this would be appreciated, its not something i know a great deal about. I have been told some lenders allow you to rent out your property even on your existing mortgage deal, is this true?
We are maybe going to go down the route of letting it out and renting a bigger place for ourselves. Any advice on this would be appreciated, its not something i know a great deal about. I have been told some lenders allow you to rent out your property even on your existing mortgage deal, is this true?
26 June 2011, 10:32 PM
#2585
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Some just charge you a small yearly fee, two of ours have residential mortgages and we just pay £95 a year to them for permission to let.
Speak to your lender.
More importantly make sure your buildings/contents insurance is aware.
Speak to your lender.
More importantly make sure your buildings/contents insurance is aware.
27 June 2011, 12:18 AM
#2586
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I've done exactly that in the past, no problem with the mortgage lenders but plenty of trouble with the tenants.
One stole the pond.
One still owes me a grand.
And worst of all I married the last one
One stole the pond.
One still owes me a grand.
And worst of all I married the last one
Last edited by his-n-her-scoobs; 27 June 2011 at 12:27 AM.
27 June 2011, 08:45 AM
#2588
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Viewing not buying
Looks like a double dip recession on the way, and the second dip is usually worse than the first 
Don't want to be a doom monger but history does tend to repeat itself....
Im still viewing properties (seeing one this afternoon) but am holding on to my cash for the time being. Think that prices may go down this winter, they certainly ain't going up.
:/
The number of construction companies which became insolvent within the first quarter of 2011 rose by 11%
Don't want to be a doom monger but history does tend to repeat itself....Im still viewing properties (seeing one this afternoon) but am holding on to my cash for the time being. Think that prices may go down this winter, they certainly ain't going up.
:/
Last edited by his-n-her-scoobs; 27 June 2011 at 08:54 AM.
27 June 2011, 08:52 AM
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29 June 2011, 10:55 PM
#2591
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Good houses around me are still selling for peak, or near within a week - month of going on the market.
The price thing is disjointed with the good areas/houses holding up, and rest plumetting. London and surrounding areas are still healthy with sales and showing little signs of declines.
The price thing is disjointed with the good areas/houses holding up, and rest plumetting. London and surrounding areas are still healthy with sales and showing little signs of declines.
29 June 2011, 10:56 PM
#2592
30 June 2011, 04:59 PM
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30 June 2011, 05:46 PM
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30 June 2011, 07:37 PM
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Complete ******. I thought the BofE was supposed to be apolitical yet here they are month after month violating their targets for the sake of a special interest group (homeowners).
30 June 2011, 08:29 PM
#2597
30 June 2011, 08:32 PM
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01 July 2011, 12:28 PM
#2599
So lets Hike Interest Rates and put a few Hundred thousand out of their homes ,make sure no person in the land has any money in their pocket to buy anything .Collapse all small businesses in the process and really improve the situation .!!!
Oh, and put a smile on the face of the few who have money in the bank by giving them an extra couple of hundred quid on their accounts each year .
I dont know why Merv hasnt thought of this .
It is better to give than receive !!! Thats what I was taught anyway .
Oh, and put a smile on the face of the few who have money in the bank by giving them an extra couple of hundred quid on their accounts each year .
I dont know why Merv hasnt thought of this .
It is better to give than receive !!! Thats what I was taught anyway .
01 July 2011, 12:33 PM
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So lets Hike Interest Rates and put a few Hundred thousand out of their homes ,make sure no person in the land has any money in their pocket to buy anything .Collapse all small businesses in the process and really improve the situation .!!!
Oh, and put a smile on the face of the few who have money in the bank by giving them an extra couple of hundred quid on their accounts each year .
I dont know why Merv hasnt thought of this .
It is better to give than receive !!! Thats what I was taught anyway .
Oh, and put a smile on the face of the few who have money in the bank by giving them an extra couple of hundred quid on their accounts each year .
I dont know why Merv hasnt thought of this .
It is better to give than receive !!! Thats what I was taught anyway .
Rents are higher than they should be.
High house prices is not a good thing, when will people realise?
01 July 2011, 12:34 PM
#2602
01 July 2011, 12:37 PM
#2603
Rents are higher than they should be.
Tip people out of their houses and Rents will go even higher ,supply and demand .
High house prices is not a good thing, when will people realise?[/QUOTE]
I am not saying House prices should increase .
Tip people out of their houses and Rents will go even higher ,supply and demand .
High house prices is not a good thing, when will people realise?[/QUOTE]
I am not saying House prices should increase .
01 July 2011, 12:47 PM
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[/quote]Perhaps, but housing remains unaffordable to many so they have to rent, especially to the FTB types, so the market is choked at the bottom.
You don't have to default if you can't afford your mortgage, you could buy a cheaper property.
01 July 2011, 01:39 PM
#2605
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Let's get the hit over with .... hike Interest Rates back to 5% and let's see what grot falls out the bottom.
Us with savings are suffering hugely to support those who used their single brain cell to borrow beyond their means - I say F*ck 'Em!
I want 8% on my savings - not a poxy 3%! It would mean an extra £25,000 a year to me (before Tax) .... have you kiddies no idea how the rate affects us old folk!?
Us with savings are suffering hugely to support those who used their single brain cell to borrow beyond their means - I say F*ck 'Em!
I want 8% on my savings - not a poxy 3%! It would mean an extra £25,000 a year to me (before Tax) .... have you kiddies no idea how the rate affects us old folk!?
01 July 2011, 03:56 PM
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So lets Hike Interest Rates and put a few Hundred thousand out of their homes ,make sure no person in the land has any money in their pocket to buy anything .Collapse all small businesses in the process and really improve the situation .!!!
Oh, and put a smile on the face of the few who have money in the bank by giving them an extra couple of hundred quid on their accounts each year .
I dont know why Merv hasnt thought of this .
It is better to give than receive !!! Thats what I was taught anyway .
Oh, and put a smile on the face of the few who have money in the bank by giving them an extra couple of hundred quid on their accounts each year .
I dont know why Merv hasnt thought of this .
It is better to give than receive !!! Thats what I was taught anyway .
AND THAT IS WHY THIS ****ING COUNTRY IS ****ING ****ED!
01 July 2011, 04:05 PM
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01 July 2011, 04:18 PM
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