im about to enter the property game as a valuer/surveyor/estate agent.

a close mate has been doing it for abour 5 years.

...at the moment, houses arent selling (as we all know) because of:

interest rates
HIP packs
close to xmas
high house prices

...go to your local estate agent, put in a silly offer and grab yourself a bargain. ive been informed of 130k 3 bed semi houses going for closer to 100k as the owner was just sick of the lack of interest and just accepted the offer.

its PRIME time to buy.

 

o.k i'll take 3 please

 

step right this way sir.

PM sent.

 

130k for a 3 bed .....i can only dream

 

if i was selling my house, and it was up for 130k and some monkey offered 100k, id tell them to fuck off

 

thats what i thought

just cos one individual wants to drop her house by 30k dosent mean everyone will

 

i was going to put mine on the market

 

you couldnt buy shed in Reading for £130k

 

Me too! would just get a 1 bed flat for that!

 

i am in blackpool remember lol

BUT, there are a few nice area in blackpool...the 130k house in question was near poulton, which is a desirable postcode in these parts.

mates just bought a 3 bed terrace in a nic elittle culdesac with OSP (off street parking), garage, garden, new kitchen/bathroom/carpets/flooring for 100k was up for 115k, he said 90k, they said 'no chance'...he said 'meet you half way'...so 100k was accepted

even if house prices freeze...or even slightly drop, he has got himself a nice investment.

buying now is best. the market is very very quiet...houses arent selling for the reasons stated above, people need to realise that if you get a house dirt cheap, the it genuinely doesnt matter if interest rates rise or if house prices fall etc.

buy buy buy

 

i must live in a shit hole then cos you can get em round here for less than 100k for 3 bed

 

Tis true, BUT, as interest rates keep rising, more and more people are having their places repo'd.

First time buyers are not getting the chances they were last year and so stops/slows the chain.

All this leads to house prices coming down as nothing is selling. At the moment people are still stuck in the glory days thinking their house is worth top £££. But over the next 6months or more, it will deffo see people dropping prices to get shot.

As that happens, the house prices come down and down until...

Interest rates drop again, first time buyers can get on the ladder, the chain can move again and the market picks up, THEN you buy buy buy

As the demand goes up, so does the values.

I have two mates, both rying to sell their homes, neitehr are getting offers as they want to much for their house, give it a month or so and they will be slashing the price.

 

it was an example of an increasing trend

if i was putting in an offer on a propery id be at LEAST offering 20% below, and working my way up (slowly) from that amount.

when people get their heads around the HIP packs, and the 'credit crisis' calms down a bit etc then people will stop accepting silly offers. but whilst things are a bit 'scray' for sellers at the moment it's time for buyers to bully them into pathetic offers...youd be suprised how many accept

 

northern monkeys

 

FPMSL - does it come with a double detached garage, and 300ft back garden too - 130k won't even get you a bloody 1 bed flat round here....

 

most people wouldn't be able to lose out on 30k or a simular amount

 

the granny flat below my house is £230k lol and thats a one bed

 

what a odd thing to say, so if a single person pushes themselfs for a 100k house and then interest rates go up another 2% , that doesn't matter ????

you either don't know shite, or you worded that badly.

 

My mate offered 100k on a 120k house, got it for 102k,

I don't think it is a passing trend, i think we are going to see a mini slump to be honest, with houses coming down a good whack.

Many people who bought over the last couple of years wil be coming to an end of their fixed terms and may wll find them self in the poo poo

 

Maybe the area as house prices are still flying in the South (hampshire) Parents put their house on the market last Friday 12 noon for £280,000 (3 bed terraced) An offer was made and accepted by 5pm that evening the other 3 houses in the road all had signs go up this week and all have sold! So think it may well be the areas as house prices round here have not dropped they have levelled off but they have not dropped yet!

As I am now made homeless I would love the prices to go down!! Oh well I will rent for a bit!!

Edited to add the offer was 277, 500!

 

Sorry mate, but you're miles away. HIPs don't affect you, house prices are still rising in nearly all areas.

If you're about to enter tha market as a surveyor, and don't understand the sub-prime issue, then I don't see you doing too well at your newly chosen profession.

 

this is something that annoys me lol.

its like the HIPS inspectors - most are people who have NO experience in the property market at all.

these people are the ones who cause you so much hassle when selling

and besides, what self respecting mortgage lender is going to believe an HIP? LOL

How much experience in the Estate Agency market do you have FW?

 

I really can't see the point in these HIP's, as said, I can't see a lender taking one of those over a survey

I take it it is another way for us to get stung in the pocket

 

people rushed to put their houses on BEFORE HIPS came into practice. this flooded the market, meaning there's millions of houses for sale but not enough buyers.

of course HIPs has had an effect on house sales

i might be guilty of generalising based on the blackpool market, but up here im hearing countless stories of low offers being accepted due to the reasons i stated in my first post.

 

its another tax mate

 

the annoying thing as that this shouldnt and wouldnt of happened had it all of been managed better.

These people will still require a HIP if their house hasnt sold after a period of time.

also you only need to of ordered a HIP, not actually paid for it - this would mean that people who put their house for sale after August 1st, if they'd of had a quick sale, wouldnt of needed to of bought one either.

HIPS only affects 3+ bed properties at the moment, and only affected 4+ bed when it came into effect.

bad management.

 

why does polution in blackpool make an area more desirable?

and have you been watching them programs on telly that are all dom and gloom about property values?

the market isn't going to go up that much more as there is already talk of a slowing down because of the credit crunch/american banks being fucked for them funny mortgages/intrests rate but this still means you can't afford to buy a house, so buying a house when it's beyond your means is just silly

i'd love to buy a house for £30k less than it's aksing price, but i don't have a spare £100k laying baout (well, i do but that's not the point)

why did he let it go for so much loss?
why did it take so long to sell?
was the seller a cunt?
was it in a shit hole of a place?
was the estate agent a cunt?
etc

 

You wouldnt get a 1 bed flat for under 130k here, 2 bedflats go for 170k, house's are 230+... 3 bed house's are 250-300k...

shocking!

 

like sheffield i can go 5 mins down the road NEW apartments 100k or 5 mins the other way same apartments 300k all depends on the postcode

i paid 115k for my 3 bed semi 16 months ago there going for about 130k now on my road maybe a tad more

 

They are doing the same here, one bed apartments (when did we become Americans) for 100k + people paying that must be mad!!!

Debs

 

legend

its poulton,a village/town just outside of blackpool which has a better supposed class there, nicer houses, nice homely, welcoming main street etc, classy chicks

 

It's too early to buy, wait for the " Lets jump in on the Buy to let" brigade to realise they've overstretched themselves and won't get the rent to pay the mortgage.
Then there will be loads of reduced price or auctioned repo's about.

.

 

oops

 

100-130k 3 bed semi??

2 bed flat round ere is over 200k

they going to drop in the next 6 months, so why not wait a bit longer then REALLY grab a bargain

 

i rememebr them saying that years ago, and the prices went up and up and up
the house opposite me was up for sale about 10 years ago for £110k and is now vaulved at closer to half a mill, so that's some going ain't it?

 

that was ten years ago lol so do you think that 500k house in ten eyars will be over 1mill?

 

property prices in the uk are atleast 40-50% overvalued. First time buyers have to borrow upto 8x 9x there annual salary's just to get a foot on the ladder!. Madness!!!

With no first time buyers entering the market you old timers sitting in your nice new conservatory will eventually die off giving most of your inheritance to mr brown and the housing market will crash like a fully laden 747 nose diving onto your driveway!

the bubble is bursting so hold on tight!! its going to be a long ride.

We can discuss this till the cows come home, but we all know that one day soon the housing market will correct itself once again!!

F&(^ING baby boomers!!!!

 

I'll second that. Everywhere seems to be a telephone number

 

well your still having to pay about 20% over the price in edinburgh to get a house
and lol at evryoe saying there all going to crash bla bla.i bet everyone saying that aint even bought there house

 

the age old arguement of 'they said values wouldnt rise 10 years ago but it has'

yeah, BUT, it's got to reach its limit at some point...and i think borrowing 8-9 times your wage IS reaching the limit lol

the buy to let market is fucked, as stated above. interest rates and house prices have made sure the owners/investors just cant raise the mortgage money in rent. even if someone is just about getting their mortgage covered...it only takes a couple of people not paying for a couple of months and your losing out in the long run as the increase in the property value has near enough reached its peak anyway.

etc etc

age old debate but i'd say in about a years time there will be some good bargains to be had

if someone bought a house for 100k, and it's now worth 180k, if it wasnt selling they wouldnt mind accepting 160k anyway as theyve still made good money.