Housing Bubble ....
31 July 2008, 01:05 PM
#1
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Housing Bubble ....
... well and truly POPPED!!!
Get out your chequebooks, there are about to be some bargains in the coming 18 months ......
Judging the bottom and grabbing what you can is the challenge this time around.
I'm being told that silly offers are going in on properties and they are being accepted!!
Bang in offers 20% down on the asking and you will be surprised at how often it is accepted!
Get out your chequebooks, there are about to be some bargains in the coming 18 months ......
Judging the bottom and grabbing what you can is the challenge this time around.
I'm being told that silly offers are going in on properties and they are being accepted!!
Bang in offers 20% down on the asking and you will be surprised at how often it is accepted!
31 July 2008, 01:22 PM
#4
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Pete
Why don't you just go and do something different for once in your life......or maybe even adopt a different style of posting, anything other than spouting the same old drivel
So boring
31 July 2008, 01:30 PM
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The housing market is always worth betting on, hence why I will be stocking up when and where I see housing bargains - bricks and mortar are excellent long term bets .... so, I'm simply pointing out that the market is ripe for the plucking for those with the where-with-all to capitalise.
31 July 2008, 01:32 PM
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Wouldn't say the housing market has popped. Not yet anyway. Certainly a downturn.
In 18 months though, there could well be some bargains. I'm keeping an eye on a couple new build plots (4 bed detatched) that I really fancy. I'd be tempted in 18 months time to walk in an place a silly offer. Can't hurt.
All depends if they're desperate to sell.
In 18 months though, there could well be some bargains. I'm keeping an eye on a couple new build plots (4 bed detatched) that I really fancy. I'd be tempted in 18 months time to walk in an place a silly offer. Can't hurt.
All depends if they're desperate to sell.
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31 July 2008, 01:38 PM
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31 July 2008, 01:42 PM
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Wouldn't say the housing market has popped. Not yet anyway. Certainly a downturn.
In 18 months though, there could well be some bargains. I'm keeping an eye on a couple new build plots (4 bed detatched) that I really fancy. I'd be tempted in 18 months time to walk in an place a silly offer. Can't hurt.
All depends if they're desperate to sell.
In 18 months though, there could well be some bargains. I'm keeping an eye on a couple new build plots (4 bed detatched) that I really fancy. I'd be tempted in 18 months time to walk in an place a silly offer. Can't hurt.
All depends if they're desperate to sell.
Standard & Poor predicting a further 35% fall, and they're not in it to talk up the market!
Already looks like this crash will dwarf the 90's crash, but then prices had gone insanely high!
31 July 2008, 01:42 PM
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so that flat i put an offer in for 10 months ago which wasnt accepted then,why wont they take the offer still if everythings supposed to be going down the pan
31 July 2008, 01:44 PM
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31 July 2008, 01:47 PM
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I wouldnt worry , if ANYTHING is certain its that Lewis doent have a dickey-bird about the housing market - you just have to look back over the last 6 years
31 July 2008, 01:58 PM
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There is a house in my mothers village that was up for £415k over a year ago. They've swapped estate agents 3 times and only lowered it by £5k. Suprise suprise it hasn't sold. Thing is though, they bought it 30 years ago, so they are just being greedy.
If they'd sold it 6 months ago for say £380-400K they'd be laughing all the way to the bank. However greed got in the way, and now it probably wouldn't go for anything over £350k.
If it sells at all.
31 July 2008, 02:57 PM
#16
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... well and truly POPPED!!!
Get out your chequebooks, there are about to be some bargains in the coming 18 months ......
Judging the bottom and grabbing what you can is the challenge this time around.
I'm being told that silly offers are going in on properties and they are being accepted!! Bang in offers 20% down on the asking and you will be surprised at how often it is accepted!
Get out your chequebooks, there are about to be some bargains in the coming 18 months ......
Judging the bottom and grabbing what you can is the challenge this time around.
I'm being told that silly offers are going in on properties and they are being accepted!!
Bang in offers 20% down on the asking and you will be surprised at how often it is accepted!But still, you're being told crap Pete. Nothing is moving, because sellers acknowledge that it will sort itself out in a while and are not prepared to sell for stupidly low amounts offered by chancers.
Granted they may not get what they originally wanted, but they are sitting it out.
Estate agents are selling very, very little.
I call "bullsh1t" on your post
31 July 2008, 05:24 PM
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Just to be clear, you wait for the bottom, then grab it with both hands.... 
Problems 1 and 2....
No one knows where the bottom will be or when it'll happen.
No one knows what circumstances will relight the market.
IMO we've got 12-24 months more of drops and/or doldrums before any chance of re-igniting the growth engines. (<= I didn't say that, I read it somewhere).
Problems 1 and 2....
No one knows where the bottom will be or when it'll happen.
No one knows what circumstances will relight the market.
IMO we've got 12-24 months more of drops and/or doldrums before any chance of re-igniting the growth engines. (<= I didn't say that, I read it somewhere).
31 July 2008, 05:54 PM
#20
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The market is gapping at the moment, sellers are not dropping prices a great deal and buyers simply cant get big mortgages any more so not much is changing hands. The extent of the fall depends on how long sellers can hold out for and if the banks make big loans avaiable once again.
I dont see the banks loaning 7 times earnings in the foreseable future so it will depend on sellers holding out. One thing I am confident in is that there are lots of people out there holding asking prices up who simply will not be able to afford their mortgages coming off fixed rates alongside the rise in bills we are seeing at present.
Make no mistake if the market does start dropping by 2-3% per month for the next 6 months then you'll see a whole bunch of sellers lowering their prices keen to avoid negative equity. I personally can't see anything other than a massive reduction in prices and big recession for the UK (way worse than the USA due to our economy being buit on the housing market whereas the USA genuinely is industrious) but I'm not always right.
Also theres no need to buy a house to make money out of housing, just make a spread bet on the house price index which any decent spread betting firm will offer. You'll need way less capital up front.
I personally see the bottom as being about £125k-£140k in todays prices using the nationwide average price index. Think it will it that in 18-24 months and stay there for 3-5 years, just an opinion though.
I dont see the banks loaning 7 times earnings in the foreseable future so it will depend on sellers holding out. One thing I am confident in is that there are lots of people out there holding asking prices up who simply will not be able to afford their mortgages coming off fixed rates alongside the rise in bills we are seeing at present.
Make no mistake if the market does start dropping by 2-3% per month for the next 6 months then you'll see a whole bunch of sellers lowering their prices keen to avoid negative equity. I personally can't see anything other than a massive reduction in prices and big recession for the UK (way worse than the USA due to our economy being buit on the housing market whereas the USA genuinely is industrious) but I'm not always right.
Also theres no need to buy a house to make money out of housing, just make a spread bet on the house price index which any decent spread betting firm will offer. You'll need way less capital up front.
I personally see the bottom as being about £125k-£140k in todays prices using the nationwide average price index. Think it will it that in 18-24 months and stay there for 3-5 years, just an opinion though.
31 July 2008, 06:10 PM
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Just to be clear, you wait for the bottom, then grab it with both hands....
Problems 1 and 2....
No one knows where the bottom will be or when it'll happen.
No one knows what circumstances will relight the market.
IMO we've got 12-24 months more of drops and/or doldrums before any chance of re-igniting the growth engines. (<= I didn't say that, I read it somewhere).
Problems 1 and 2....
No one knows where the bottom will be or when it'll happen.
No one knows what circumstances will relight the market.
IMO we've got 12-24 months more of drops and/or doldrums before any chance of re-igniting the growth engines. (<= I didn't say that, I read it somewhere).
31 July 2008, 06:31 PM
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I guess once you see SOLD signs going up that's just after the bottom, but you need to keep a sharp eye on it to spot that change.
Distress sales will pull the market down, sellers who don't want to accept things the way they are won't sell, simple as.
Distress sales will pull the market down, sellers who don't want to accept things the way they are won't sell, simple as.
31 July 2008, 08:30 PM
#24
The infractions on this thread are a bit pointless and unnecessary.
All of them are given for comments that are Pete's opinion, not aimed at offending anyone. Ok the thread may carry a hint of trolling, but plenty of people have put forward their sensible points of view, without it really descending into any sort of farce.
The fact is that Pete is right. There will be bargains to be had in the next year or two. Plenty of people made their fortunes out of the last price crash.
All of them are given for comments that are Pete's opinion, not aimed at offending anyone. Ok the thread may carry a hint of trolling, but plenty of people have put forward their sensible points of view, without it really descending into any sort of farce.
The fact is that Pete is right. There will be bargains to be had in the next year or two. Plenty of people made their fortunes out of the last price crash.
31 July 2008, 08:43 PM
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There are buyers out there actually, an estate agency I have an interest in has actually just had it's best month this year. People who genuinely want to move will manage it.
This "crash" will be over mid 2009 at the latest, despite what the derivatives market and other people (who stand to gain from a collapse) are reporting.
There needs to be less frenzy and negativity from the Daily Mail type press and it's oh so zealous readers and more actual research.
This "crash" will be over mid 2009 at the latest, despite what the derivatives market and other people (who stand to gain from a collapse) are reporting.
There needs to be less frenzy and negativity from the Daily Mail type press and it's oh so zealous readers and more actual research.
31 July 2008, 09:40 PM
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This users account was permanently banned by the Webmaster for persistant trolling, thus any further troll posts should surely carry an automatic infraction until the alias account is also banned.
Could be that, or maybe like Nu Labor, people have heard it all before and know that it's all a load of b*ll*x anyway.
(wasn't me btw)
31 July 2008, 11:10 PM
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31 July 2008, 11:18 PM
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Still on the up round my bit (accepted its not representative)
But still, you're being told crap Pete. Nothing is moving, because sellers acknowledge that it will sort itself out in a while and are not prepared to sell for stupidly low amounts offered by chancers.
Granted they may not get what they originally wanted, but they are sitting it out.
Estate agents are selling very, very little.
I call "bullsh1t" on your post
But still, you're being told crap Pete. Nothing is moving, because sellers acknowledge that it will sort itself out in a while and are not prepared to sell for stupidly low amounts offered by chancers.
Granted they may not get what they originally wanted, but they are sitting it out.
Estate agents are selling very, very little.
I call "bullsh1t" on your post
"Because sellers acknowledge that it will sort itself out in a while"!
WTF?