Guest earlswood Posted June 22, 2008 Share Posted June 22, 2008 Looking at the British press they are all saying to first time buyers "don't buy yet" which is having a negative effect on the market.....I don't miss the British press and media always looking on the negative side:sad: Link to comment Share on other sites More sharing options...
Mongrel Posted June 22, 2008 Share Posted June 22, 2008 Looking at the British press they are all saying to first time buyers "don't buy yet" which is having a negative effect on the market.....I don't miss the British press and media always looking on the negative side:sad: E Get yourself back pronto mate you could be editor of any of the papers you`ve got the perfect credentials:biglaugh: Malx aka Billy 1M Link to comment Share on other sites More sharing options...
Guest earlswood Posted June 22, 2008 Share Posted June 22, 2008 EGet yourself back pronto mate you could be editor of any of the papers you`ve got the perfect credentials:biglaugh: Malx aka Billy 1M Well done yorkshire-pud in picking it up so quick:biglaugh: Link to comment Share on other sites More sharing options...
Mongrel Posted June 22, 2008 Share Posted June 22, 2008 Well done yorkshire-pud in picking it up so quick:biglaugh: Like a whippet me mate a rather portly one started running again ( dodgy knees) but enjoyed it . Like the coast path Malx aka Billy NM Link to comment Share on other sites More sharing options...
jewatt Posted June 22, 2008 Share Posted June 22, 2008 Is anyone really worried about this? Every day I put the news on and its in all the headlines and frightening the life out of me and husband. We put our house on the market last week and getting very worried we'll be in for a long and rocky journey. Does anyone know if oz is experiencing the same problems? If we get less for our house (that's if we can even sell it) not going to be able to afford that house we want in oz, you know the 4 bed, pool, room for a pony! ha ha Are house prices stablising/dropping in oz. We are looking Brisbane, Mango Hill, Narangba, Redland Bay etc. Yes we are also very worried about not getting the house sold and how it will affect us in Aus, we are going to the Gold Coast and have been for a visit, My OH has kept a check on the market for renting and buying and a lot of the prices depend on the time of year we notice they are cheaper in Feb /March and Sept /Oct My Daughter and her family are in Sydney and have told us prices are slwig down just like everywhere but we are not looking for a big house with a pool etc as there is just the 2 of us but very depressed as don't know how long it will take to get a buyer and once you get your visa you just want to go but not a lot we can do but hang in there. Hope all goes well for you Evelyn Link to comment Share on other sites More sharing options...
Guest BRISSYBOUND Posted June 24, 2008 Share Posted June 24, 2008 Hi Well we have dropped our house price now from 289990 to 250000 in the space of 10 weeks and only had a couple of viewings. House is only 4 years old. Agent we are going to go with on 1st July said even the rental market is flooded cos people are going to put their homes out for rent as they cant sell. Problem with that is they are only 3 or 6 month short lets and no guarantees of people always being in. AND............ if no one is in home you would still have to pay percentage of council tax, buildings insurance and contents insurance plus risk burglary or squatters if it lies empty while you are on the other side of the world, oh and if you have a garden, you would need to arrange a gardener as well, so all costing you. We was told that if we dropped to 250000 it would sell, well that is what we paid for it 4 years ago so by the time we pay our fees etc we have made a loss. Caz Hi Caz,we're lucky in that we bought our house 8 years ago,so we'll still make on it.I know it must be disapointing not to make on your property but at least your not selling for less than you paid for it and think about why you're going to Oz in the first place. We put our house up about 6 weeks ago for £5000-£8000 below average valuation,first offer was £15000 below asking price,then came back with £10000 below asking price.We said no at first but now we think we'll take it,mainly because in a couple of months that is all we'll get anyhow,so might as well go now and get out before all the journalists talk the country into a full blown recession and then make a fortune writing about it for the next few years.Good luck Fred Link to comment Share on other sites More sharing options...
KIRK AND CO Posted June 25, 2008 Share Posted June 25, 2008 we have decided to rent ours did not bother testing the forsell market. We can get £1000 a month rent for it & as we only owe £35000 (Morgage £250 house value £250,000 at moment) & have £80,000 cash to take with us it made sence to rent & ride out the storm. Link to comment Share on other sites More sharing options...
Guest cazbeckham Posted June 25, 2008 Share Posted June 25, 2008 Hi Kirk Well as long as you are guaranteed your rental monthly thats OK. Our Estate Agent says he is inundated with rentals at the moment and will not guarantee anything beyond 6 month rentals at a time and also cannot guarantee that the house will be rented all the time. Being 12000 miles away with no control is not good as he says if it becomes empty you run the risk of it being burgled or squatters getting in (and both have happened to property on a new estate where we are in the centre of Ely). plus if it is empty you have to arranfe to pay a percentage of the council tax and buildings and contents insurance. So unless we sell the rental part is a no go. Caz Link to comment Share on other sites More sharing options...
Guest brickie001 Posted June 25, 2008 Share Posted June 25, 2008 Well i cant tell you anything about the oz market , But here up it getting worse and worse is to come . Currently iam a site manager here in the uk almost all of my counterparts are on 30 days notice of redundancy. Sales are down almost 40% .we have 150 stock houses just in the region i am in and thats just this one company and i work for one of the big 4. There forecasting another 20% drop in prices over the next 2yrs. Guess iam lucky i seen this coming and sold my house back in april. All i can say is sell now n sell as fast as you can . I know it sounds grim reduced equity and everything else. But is it not better to walk away with some cash out of the house or walk away with nothing .Even worse negative equity !!! All the best to everyone trying to sell in this market. Oh yeh my veiws are based from the yorkshire region i think things are holding up better down south. Which is where iam going to have to head when i get laid off next month Link to comment Share on other sites More sharing options...
KIRK AND CO Posted June 25, 2008 Share Posted June 25, 2008 Hi Kirk Well as long as you are guaranteed your rental monthly thats OK. Our Estate Agent says he is inundated with rentals at the moment and will not guarantee anything beyond 6 month rentals at a time and also cannot guarantee that the house will be rented all the time. Being 12000 miles away with no control is not good as he says if it becomes empty you run the risk of it being burgled or squatters getting in (and both have happened to property on a new estate where we are in the centre of Ely). plus if it is empty you have to arranfe to pay a percentage of the council tax and buildings and contents insurance. So unless we sell the rental part is a no go. Caz Tenant already lined up friend of ours seperating from husband long term rent. Link to comment Share on other sites More sharing options...
Guest Pinhead Posted June 25, 2008 Share Posted June 25, 2008 we have decided to rent ours did not bother testing the forsell market. We can get £1000 a month rent for it & as we only owe £35000 (Morgage £250 house value £250,000 at moment) & have £80,000 cash to take with us it made sence to rent & ride out the storm. Make sure you get the correct and adequate level of insurance plus notify your mortgage company that you are letting the property. You can get landlords insurance for not only building and contents but also for loss of rent, legal fees cover (in case of disputes,etc). I'd go for a fully inclusive management deal so that you don't have to deal with anything, it should be around 15% of gross rent + VAT. Link to comment Share on other sites More sharing options...
Guest cazbeckham Posted June 25, 2008 Share Posted June 25, 2008 Hi Our Agents do a fully managed service for 10% +vat. But there is stillno guarantees you have someone in the property all the time. We are fairly close to the RAF bases in Cambridgeshire and they have such an abundance of housing for rent for these people they cannot even come out to see my property to perhaps put it on their boards until end of August. The rental market is flooded with housing not selling. Not sure what we are going to do if we cant sell this house. We have now got it priced (realistically according the the agent who says he will sell it for us at this price) at £250000 - exactly what we paid for it 4.5 years ago. Caz Link to comment Share on other sites More sharing options...
KIRK AND CO Posted June 25, 2008 Share Posted June 25, 2008 Hi Our Agents do a fully managed service for 10% +vat. But there is stillno guarantees you have someone in the property all the time. We are fairly close to the RAF bases in Cambridgeshire and they have such an abundance of housing for rent for these people they cannot even come out to see my property to perhaps put it on their boards until end of August. The rental market is flooded with housing not selling. Not sure what we are going to do if we cant sell this house. We have now got it priced (realistically according the the agent who says he will sell it for us at this price) at £250000 - exactly what we paid for it 4.5 years ago. Caz Thankyou we will look into it. There are so many great & helpfull people on this site. Link to comment Share on other sites More sharing options...
KIRK AND CO Posted June 25, 2008 Share Posted June 25, 2008 Make sure you get the correct and adequate level of insurance plus notify your mortgage company that you are letting the property. You can get landlords insurance for not only building and contents but also for loss of rent, legal fees cover (in case of disputes,etc). I'd go for a fully inclusive management deal so that you don't have to deal with anything, it should be around 15% of gross rent + VAT. sorry wrong quote but the thankyou was to you too Link to comment Share on other sites More sharing options...
Guest mandisfam Posted June 25, 2008 Share Posted June 25, 2008 Well i cant tell you anything about the oz market , But here up it getting worse and worse is to come . Currently iam a site manager here in the uk almost all of my counterparts are on 30 days notice of redundancy. Sales are down almost 40% .we have 150 stock houses just in the region i am in and thats just this one company and i work for one of the big 4. There forecasting another 20% drop in prices over the next 2yrs. Guess iam lucky i seen this coming and sold my house back in april. All i can say is sell now n sell as fast as you can . I know it sounds grim reduced equity and everything else. But is it not better to walk away with some cash out of the house or walk away with nothing .Even worse negative equity !!! All the best to everyone trying to sell in this market. Oh yeh my veiws are based from the yorkshire region i think things are holding up better down south. Which is where iam going to have to head when i get laid off next month Hi, when you say yorkshire region, do you mean north, south, west or east yorkshire, its a big county and Im in the north. House are still selling admittedly taking about 6 to 9 mths to go, but they are going. Prices are only being reduced for the big 3 or 4 bed detach houses, the smaller houses are still holding there price but you just have to be patient for that buyer...... We have a new build of houses recently and majority have sold, they are certainly not offering any big deals to get buyers in, so they must be selling. Mandisfam Link to comment Share on other sites More sharing options...
Guest brickie001 Posted June 25, 2008 Share Posted June 25, 2008 Sorry it the whole of yorkshire and although they look like there selling they aint. Most have dummy sold signs up As for big discounts walk in and tell them you have been pre approved for a mortgage and are in a position to proceed and watch the prices falls . Seriously they will give up to 18% discount on the prices you see and will throw in all manor of freebies (but they dont count for much as the prices they pay for them are peanuts) i.e carpets wardrobes etc. Its up to you but try what i said and see for yourself Link to comment Share on other sites More sharing options...
Guest Pinhead Posted June 25, 2008 Share Posted June 25, 2008 I talked my agent yesterday (South Bucks) and he is of the opinion that people are just taking longer to make decisions as to whether to look at properties, getting finance etc but prices are still holding up. Anyway that was his excuse for not getting any viewings since listing the property 3 weeks ago! The worst postion to be in around this area is to be in a newly/recently built apartments / townhouse as the developers of unsold properties are offering discounts, stamp duty payments, etc to sell their outstanding stock. Why would you buy a nearly new property when you can buy a brand new one with full guarantees and incentives? That was his reasoning anyway, it made sense to me. As my property is in the £350-£400K price bracket my fear is that with hardly any new buyers coming into the market there won't be any people moving up the chain to mine. It looks like I'll be banking on people relocating to the area to find a buyer, fortunately I live in area with low unemployment and good transport links to London,etc. Link to comment Share on other sites More sharing options...
Guest earlswood Posted June 25, 2008 Share Posted June 25, 2008 Sorry it the whole of yorkshire and although they look like there selling they aint.Most have dummy sold signs up As for big discounts walk in and tell them you have been pre approved for a mortgage and are in a position to proceed and watch the prices falls . Seriously they will give up to 18% discount on the prices you see and will throw in all manor of freebies (but they dont count for much as the prices they pay for them are peanuts) i.e carpets wardrobes etc. Its up to you but try what i said and see for yourself And in the Midlands....my sister has droppes her asking price from £275k to £220k on a house they bought 18 months ago for £265k as they are moving to the shetland isles:err: the agent says they cannot sell anything at the momment and prices will drop at least another 20% over the next couple of years. Link to comment Share on other sites More sharing options...
Guest mandisfam Posted June 25, 2008 Share Posted June 25, 2008 Sorry it the whole of yorkshire and although they look like there selling they aint.Most have dummy sold signs up As for big discounts walk in and tell them you have been pre approved for a mortgage and are in a position to proceed and watch the prices falls . Seriously they will give up to 18% discount on the prices you see and will throw in all manor of freebies (but they dont count for much as the prices they pay for them are peanuts) i.e carpets wardrobes etc. Its up to you but try what i said and see for yourself Yes, a friend of mine got a very good deal on her new build just before chirstmas, the deal was we will give you all this, buy your old house, massage the figures for you but have to been in the week before christmas.......with 4 kids its was nightmare but she did it. Its illegal for estate agents put up dummy boards, I suspect some do it but the majority I feel wouldn't. The houses I have seen sold are small ones, that were probably buy to let places and were originally empty and now have sold signs on the with people clearly living in them. Plus people I have spoken to have said that they have sold or know someone who has. Its a small market town and people talk. Im not saying prices won't decrease, or that there isn't cause for concern but the bloody media in this country are making matters so much worse than they need to...... Mandisfam Link to comment Share on other sites More sharing options...
Guest kdal Posted June 25, 2008 Share Posted June 25, 2008 Im not saying prices won't decrease, or that there isn't cause for concern but the bloody media in this country are making matters so much worse than they need to...... Mandisfam .. I totally agree with this, the media are the rise and fall of everything including people in the public eye. Link to comment Share on other sites More sharing options...
the hutchies Posted June 25, 2008 Share Posted June 25, 2008 i live in south yorkshire and yes my oh knows a few site workers who are getting laid off.. but the lower end of the market is moving very slow, i rang my ae with regards to reducing our house and he told me not to bother just yet... we are just going to hang in there a little while longer.. we did think of the renting out route but i agree with Caz Beckham.. what happens if you don't get anybody in renting we just can't take that risk.. if only the media would jump on another bandwagon. Lisax Link to comment Share on other sites More sharing options...
Guest BRISSYBOUND Posted June 26, 2008 Share Posted June 26, 2008 DO NOT LISTEN TO ESTATE AGENTS WHEN IT COMES TO HOUSE PRICES,they have a vested interest in keeping house prices high, don't forget the higher the price is the more they charge.I'm fairly sure my estate agent is a nice bloke(small town asked around a bit and went school with him) but he must be worried that if things carry on like this his wages are going to fall very drastically over the next couple of years or possibly months and like a lot of people he's probably paid to much for his house.Personally I'm going to take the first reasonable offer and get out, because the media would rather talk a problem up than look at it realistically.Good luck everyone and don't let them grind you down.Fred Link to comment Share on other sites More sharing options...
Guest wardy Posted June 26, 2008 Share Posted June 26, 2008 Most have dummy sold signs up Funny you should say that we have a dummy sold sign just gone up it seems to be happening more and more round here. We are close to completing and so is someone else up the road, but we are not sold but these signs have gone up. They no longer use under offer just sold. DO NOT LISTEN TO ESTATE AGENTS WHEN IT COMES TO HOUSE PRICES,they have a vested interest in keeping house prices high, don't forget the higher the price is the more they charge. Not neccessarily, not if you negotiate a fixed fee sale. I did and no matter how much we sell for I wont pay them more than £800 :nah: Link to comment Share on other sites More sharing options...
Guest Pinhead Posted June 27, 2008 Share Posted June 27, 2008 In which case the opposite may happen, they will put a price too low on it just to shift it quick to the first person who may be interested. Yes the estate agents have a vested interest in keeping the prices up, which is a good job as everyone else is talking them down at the moment! House prices are a self fullfilling prophesy, the more you talk about falling the prices the fewer people look to buy and the prices fall further. If someone needs to buy a certain type of house in a certain area and you're the only one selling (which is my case) then you have no reason to cut and run yet if you have plenty of time to find a buyer. Only where there are lots of people selling the same properties in a localised area will you get real pressure on your selling price as there are more sellers than buyers. You have to be realistic in your expectation of the price you'll get, after all houses are only worth what someone is willing to pay, but you don't have cut your own throat! Link to comment Share on other sites More sharing options...
Guest brickie001 Posted June 27, 2008 Share Posted June 27, 2008 The dummy sold signs i refer to are on new build propertys built by developers. If you are selling a house in the u.k to purchase a house in the u.k it dont really matter Because although you will get a reduced price on the house you sell you will also get a reduced price on the property you purchase therefore it is all relative. Now as most on here are looking to emigrate then your basically looking to cash in and all i am saying is that it better to cash is sooner rather than later. Ok say you sold your house tomorrow and had to drop by 20k and the housing market drops by say 5% your still have done ok. Hold out for a a price your never going to achieve and it drops by 12-20% in 2 years and ouch. And if its all pie in the sky then why is persimmon homes laying half its workforce off. Followed next week by taylor wimpey & Barratt Homes. Link to comment Share on other sites More sharing options...
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