House prices

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WILL*REMAIN*STRONG
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Are they on the rise again?

Post by WILL*REMAIN*STRONG »

http://www.telegraph.co.uk/finance/econ ... gents.html

Could house prices be rising???? Are we at the end of the house price slump? Or are we being conned by estate agents and financial institutions into thinking this?

With so many conflicting views out there who do we trust? Should house prices rise again so soon? Is this a ploy to make people panic buy in fear of being priced out even more I wonder?

I don’t see any sense in house prices rising at the moment, does anyone else? :? Well unless it is because so many houses are over priced and it will make them look more reasonable if new houses to the market have an even more unrealistic price tag! :lol:
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Post by catapult1 »

Some areas haven't seen much of a slump anyway.

To me it is all hype and nonsance. The only thing holding back the housing market at the moment is the morgage companys. The interest rate at the moment is about 1.5% or lower but the average new morgage rate is in the region of OVER 4% ( we all know they need to make a profit AND recoup the earlier losses) however a report (or was it an article??) out this week was saying that the fees for the morgages are so high that this is having a negative effect on those looking for new morgages.

House prices will be what they will be but if you can't get a morgage then the market will stagnate then wither and die. The property market wasn't just keeping estate agents afloat...
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Post by subjecttocontract »

Its wrong to generalise as different areas of the country are affected differently......but thats how most of the press reports are written unfortunately. In my area there has been a small (perceived) rise in prices which we believe has been caused by the shortage of property on the market. There IS a demand out there from people who want to/ have to buy/ move but there is a massive shortage of quality property.

If you think its bad for residential then spare a thought for property investors who are faced with :-
* Mortgage rates around 6%
* Arrangement fees of 3.5%
* 25% - 40% deposits required
* Unattractive terms & conditions
* Very little competion with just a few lenders in the market
Almost everything I say is tinged with irony !
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WILL*REMAIN*STRONG
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Post by WILL*REMAIN*STRONG »

Great replies, thanks. It is nice to see there is some hope for those realistically trying to sell, more houses coming onto the market at a higher price will help those who couldn't sell for a long time. :D :D
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Post by appledore »

WILL*REMAIN*STRONG wrote:Great replies, thanks. It is nice to see there is some hope for those realistically trying to sell, more houses coming onto the market at a higher price will help those who couldn't sell for a long time. :D :D
I hope you're right Will. We've got an offer on my mum's house at long last, but the people wanting to buy it are having a struggle to sell theirs.
We've had a lot of viewers though so that's encouraging. :D
Keep calm and carry on.
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Post by WILL*REMAIN*STRONG »

appledore wrote:I hope you're right Will. We've got an offer on my mum's house at long last, but the people wanting to buy it are having a struggle to sell theirs.
We've had a lot of viewers though so that's encouraging. :D
That is really good news apples, I hope the buyer sells their house quickly so it all goes through ok. :D

In our area there are so many over priced houses that some are beginning to sell now, even those that have been on the market for several months. So it all looks a little more hopeful which is great!

I will keep my fingers crossed for you.
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Post by WILL*REMAIN*STRONG »

appledore wrote:We've got an offer on my mum's house at long last, but the people wanting to buy it are having a struggle to sell theirs.
We've had a lot of viewers though so that's encouraging. :D
Did you sell your mums house apples?

The market picked up recently, some houses that couldn't sell have sold in our area in the last couple of months. I have seen more sold signs this month and last month than I have in two years! :lol:
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Post by appledore »

Hi Will. Yes, we sold it. Hallelujah.!!!!!!!!!!!!!! :lol: Just a few weeks ago though. The first people who made an offer put their house on the market at a ridiculous price and didn't get one viewer. Then another couple put an offer in, and put their house on the market at an even dafter price. They got no viewers either. Then someone came along with nothing to sell and a motgage in place, and bingo!!!!!
I thought I would be sad to see it go, but I'm not. It was getting to be a worry.
I think things have picked up slightly, but there's still a lot of houses that have been on the market for years. The first people who made an offer on my mum's house have just increased the price of theirs. I can't see the logic in that ..... We can't sell our house so we'll put the price up. :roll:
Keep calm and carry on.
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Post by WILL*REMAIN*STRONG »

appledore wrote:Hi Will. Yes, we sold it. Hallelujah.!!!!!!!!!!!!!! :lol: Just a few weeks ago though. The first people who made an offer put their house on the market at a ridiculous price and didn't get one viewer. Then another couple put an offer in, and put their house on the market at an even dafter price. They got no viewers either. Then someone came along with nothing to sell and a motgage in place, and bingo!!!!!
I thought I would be sad to see it go, but I'm not. It was getting to be a worry.
I think things have picked up slightly, but there's still a lot of houses that have been on the market for years. The first people who made an offer on my mum's house have just increased the price of theirs. I can't see the logic in that ..... We can't sell our house so we'll put the price up. :roll:
I'm really happy for you apples, that is fantastic news. :D

The ones who put their houses on the market at ridiculous prices do not want to sell! We know of people who do that, they put their house on the market just as it crashes at the most stupid price going and then quickly take it off the market as soon as it picks up, they are called time wasters and major attention seekers. The worst part is that some of these nitwits put in offers on houses they know they are never going to buy, meaning that those poor people are let down and can't sell so easily because of their stupidity.

When we were on the market a few years back, we had lots of viewers at one point because we pitched it considerably lower than other similar houses on the market in the area, we got one nitwit offering us money to take it off the market. They were time wasters with no intention of buying, we beleive it to be to do with one of our neighbours, we knew they didn't want us to be able to move away, they needed to stop us for goodness knows what reasons, people like that are beyond reason anyway.

If all buyers and sellers were realistic and stopped wasting peoples time I think the whole selling and buying process would be a more pleasant and less stressful things to do.

We have some good news, a much disliked neighbour who is the biggest time waster of all has decided to rent the house, meaning they won't hang around like a bad smell as much...about blooming time! You wouldn't believe the stupidity of these people, it really does make you laugh. :lol: But great news as even though we know they need to hang around somehow at least they are at a suitable distance…out of sight! WOOHOO :D :D
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Post by appledore »

We took my mum's house off the market when we got the first offer on it, against our estate agent's advice, as they seemed such genuine people, but after a couple of weeks we put it back on again as we realised they were just faffing about. It'll go quiet again now over winter, and a house builder has got permission to build hundreds of new houses on the outskirts of the town. They are offering part exchange and assisted moves so there's going to be a glut of cheap houses. We managed to sell my mum's house just in time.

Some time wasters put their house on the market just to see how much they could get for it, even though they have no intention of moving. It's very unfair.

That's good news about your neighbour. :D :D The further away they go the better. They can torment someone else. :lol:
Keep calm and carry on.
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Post by WILL*REMAIN*STRONG »

appledore wrote:That's good news about your neighbour. :D :D The further away they go the better. They can torment someone else. :lol:
Thanks apples, it is the best news that they have decided to finally do the right thing and rent because they were obviously never going to sell at the stupid price they were on at and it is at least seeing the back of him for much longer than a few weeks at a time...never again would be best but knowing what he is like... :roll:

:lol: We are thankful that he isn’t a hands on landlord, I mean really! :lol:

Leaving a house empty for several years and popping back and forth to hang around was so obviously a very mentally ill thing to do. :roll: :roll: His obsession knows no bounds, what a complete idiot :!:

My guess is that they will torment someone else, or continue to hide behind others like they usually do to try and get to us. Still it is so fantastic to not have the little pervert hanging around anymore. :D :D
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Post by Treeman »

adinnhall wrote:House prices were inflated due to banks lending well above the average and without doing even the basic rudimentary checks ob the borrowers. Houses, some of which cost £300 - 900 were reaching figures of £120K+. I would say the entire economy is precarious to say the least. Also, take a look at employment ads, the bulk of jobs pay only 40,000-50,000 per year, not nearly enough to support housing prices of this magnitude.
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Post by WILL*REMAIN*STRONG »

adinnhall wrote:House prices were inflated due to banks lending well above the average and without doing even the basic rudimentary checks ob the borrowers. Houses, some of which cost £300 - 900 were reaching figures of £120K+. I would say the entire economy is precarious to say the least. Also, take a look at employment ads, the bulk of jobs pay only 40,000-50,000 per year, not nearly enough to support housing prices of this magnitude.
£300 - £900 - Was that in the 20’s? :lol: Now £120k ??? I’ll have three! :lol: I don’t earn nearly as much as 40,000 - £50,000 per year but live in a fabulous tepee with all mod cons…bucket…sausage store… I have a great pension, it is a piggy bank and I put almost 50p a week in to that! Soon I shall be rich and have supreme tent like the Joneses.
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Post by appledore »

WILL*REMAIN*STRONG wrote:[ but live in a fabulous tepee with all mod cons…bucket…sausage store… I have a great pension, it is a piggy bank and I put almost 50p a week in to that! Soon I shall be rich and have supreme tent like the Joneses.
Just had to ask. Do you wear a toupee when you're sitting in your tepee?
If you're intent and saving 50p a week you'll have a better tent than the Joneses. :lol:

Not many houses are selling where we live, even though prices are still falling.
Keep calm and carry on.
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Post by WILL*REMAIN*STRONG »

appledore wrote:Just had to ask. Do you wear a toupee when you're sitting in your tepee?
If you're intent and saving 50p a week you'll have a better tent than the Joneses. :lol:

Not many houses are selling where we live, even though prices are still falling.
I wear this :arrow: http://www.adultcostumeshop.com.au/cont ... ostume.jpg

Perhaps I should reduce my pension fund, can't be living in a house made of bricks, it might go to our heads. :lol:

Not many houses are selling where we live unless realistically priced. We thought about selling this year but now are unsure, it is being able to show people around without too many off putting factors, at the moment I'm not sure a couple of things can be overlooked. We can live and let live and mostly enjoy living here but doubt others would pay what it is worth, we can't just sell for a knock down price to please others. We might wait for someone to knock on the door and ask what we would sell for, when they laugh and offer 100,000 less we will shoot the enemy. :lol: Just kidding. :P
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