I'm experiencing higher volumes now

lostinrates

mewbie wrote: »

I was really shocked by the guy's attack on you, didn't know what to say or do. Glad you're back, and hopefully that particularly @sshole has gone. Unfortunately there are plenty more...

Oh sweet Mewbie, don't worry yourself (I didn't know you wer shockable). Another funny quirk of mine thanks to the dodgey brain is a slightly defunct memory, if it bothered me at the time it dosn't now because I can't actually remember what was said, just that I got a wee bit frustrated! Please noone be shocked/upset for me. I utterly deserve the complaints and if I'm not going to get upset noone else should Life is, after all, not long enough

geoffky

NoDebtForMe wrote: »

I am selling and buying out of choice. I am sure I am not alone either.:rolleyes:

looking at your username looks like you dont think a mortgage is debt? how strange

geoffky

Darth_Marty wrote: »

Its always been a slower market, and of course each area of the u.k is different, but what we have found is that the more expensive properties still have similar stats compared to the last 3-5 years. Of course in Pembrokeshire a million pound property is way above the norm and in london i guess a comparable price may be 10mill.
But relatively speaking its by no way the worst hit part of the market.

Are you a estate agent or just a concerned owner ???

Maisie11

I would like to respond to some of the comments made by Geoffky.

'Never to return' you are 100% correct on that? Who knows what will happen in the future. 'Poor position' - I beg to differ. £750K equity (even if I lop off £250K we still have £500k equity) and the mortgage paid off in 10 years. Two pensions schemes that we will both have paid into for over 40 years, £100k in savings. We dont have a depreciating asset. We have a home.

And why will we be forced to downsize? We are paying school fees (which was the reason we thought about trying to sell the house) out of income and only want the equity in a worst case senario. We dont require it at present and actually might not even need it but unlike you I cannot tell the future. The recession is hitting us all and the rainy day fund will be used, however we fully intend to ride this storm out. I have never been out of work a day in my life and neither has my husband. We are both in our late forties and have every confidence that we will come through the other side.

fc123

Maisie11 wrote: »

I would like to respond to some of the comments made by Geoffky.

'Never to return' you are 100% correct on that? Who knows what will happen in the future. 'Poor position' - I beg to differ. £750K equity (even if I lop off £250K we still have £500k equity) and the mortgage paid off in 10 years. Two pensions schemes that we will both have paid into for over 40 years, £100k in savings. We dont have a depreciating asset. We have a home.

And why will we be forced to downsize? We are paying school fees (which was the reason we thought about trying to sell the house) out of income and only want the equity in a worst case senario. We dont require it at present and actually might not even need it but unlike you I cannot tell the future. The recession is hitting us all and the rainy day fund will be used, however we fully intend to ride this storm out. I have never been out of work a day in my life and neither has my husband. We are both in our late forties and have every confidence that we will come through the other side.

There is a flaw in your above plan. Seeing the equity in your home as 'cash under the bed'.
Your home will always be worth the value of a home but the ticket price will vary over the years.

I understand inflation (and impact of) now much more now I potter around here. I never understood deflation until I ran our business through it during the past decade and we trade in one of the most daflationary sectors of all; clothing.

If you convert your equity to cash, downsize and stash away school fees (I do remember your previous posts vaguely) and put them somewhere safe collecting 1% interest, the pot may be worth today enough for x years of school fees for y children.

But if inflation takes hold in a couple of years, even at only a few %, your cash pot won't keep up with rising school fees.....and they do rise. It's possible to pick up discounts from scholarships/bursaries but, unless you can afford to put the kids all the way through on current earnings, I wouldn't risk it.
Lots of savers on the board write about the concern of their savings dropping in real terms. £1 today will not buy services for £1 in 3 years time. Interest rates won't keep you ahead.
Goods are a bit different but the Chinese don't make and export private schools at the mo.

I write as someone who has spent the equivalent of a nice house on 2 sets of school fees over the years.....never planned to, just ended up like that....and only 5 terms to go If we don't get credit crunched first.

ETA; you don't need the equity now...so why worry?

chucky

geoffky wrote: »

Are you a estate agent or just a concerned owner ???

wow - if someone is positive or isn't negative they have to be an estate agent or a concerned owner!?

just shows the state of Geoff's mind - disturbed!!

neverdespairgirl

lostinrates wrote: »

I'm back. (And was pretty sure nobody had noticed, lol)

Big muvver NDG notices everything...

Davesnave

fc123 wrote: »

How long are you going to rent for Dave? oh and BTW what are atentuates?

Atentuates?.... Aren't they those chocolates you eat about 15 minutes before After Eights?
I think you must be referring to the thread on the other channel. It was Conrad who used the word 'attenuates,' when I think he meant 'accentuates.' Anyway, it didn't mean what he meant it to mean! To attenuate means to weaken or reduce.

I'm not sure how long we'll rent. Daughter became fed-up waiting for us to sell and charmed her way into the local college in September, so I guess we shall do so till July, at least. We're only round the corner from our old house & still have a reasonably large garden there with its own independent access. That was me being creative when I realised we'd have to drop our price! So, it will be a bit weird, living in a different house and also gardening back at the other one. As you may know, we used to run a small plant nursery business from home, so we've even signed-up to do a few events this spring.

Back on topic, we are ready to buy whenever the right opportunity presents itself, but watching from the sidelines will be interesting and we're in no hurry. Ideally, we'll find something with the potential for a holiday let as well as a home, plus a few acres to mess about with.

fc123

Davesnave wrote: »

Atentuates?.... Aren't they those chocolates you eat about 15 minutes before After Eights?
I think you must be referring to the thread on the other channel. It was Conrad who used the word 'attenuates,' when I think he meant 'accentuates.' Anyway, it didn't mean what he meant it to mean! To attenuate means to weaken or reduce.

I'm not sure how long we'll rent. Daughter became fed-up waiting for us to sell and charmed her way into the local college in September, so I guess we shall do so till July, at least. We're only round the corner from our old house & still have a reasonably large garden there with its own independent access. That was me being creative when I realised we'd have to drop our price! So, it will be a bit weird, living in a different house and also gardening back at the other one. As you may know, we used to run a small plant nursery business from home, so we've even signed-up to do a few events this spring.

Back on topic, we are ready to buy whenever the right opportunity presents itself, but watching from the sidelines will be interesting and we're in no hurry. Ideally, we'll find something with the potential for a holiday let as well as a home, plus a few acres to mess about with.

I have learnt another word today

It took me about 3 years to get used to living in someone elses house....plus strangers living in mine (but we use it ourselves now...tho' mainly OH).

I assume (;) ) you will post a few links to stuff you are looking to buy....so we can all be nosy and check it out too?

dopester

Maisie11 wrote: »

What we are not prepared to do is to sell it to some bargain hunter who is looking to get a cheap deal. We have the option to stay and what on earth makes you a think you will know what will happen in 12 months let alone five years.

Just as the buyer has the right to make an offer - we have the right to refuse it. Why can some people not realise it is a two way street.

The problem I think so many people misunderestimate, is that you are not in charge of the market.

How long have you had the circa £1 million house?

Here is some news for you... something that you may not understand.

Lets be generous and say you bought it for £350,000 back in 1998. Your house has mostly risen in value because newcomers to the area, new buyers of similar properties, have agreed to buy houses for more money.

You did nothing. Your house went up in price simply because another transaction between a seller and a buyer went ahead at a higher price. Your house got marked upwards with that. As did all other similar property in the area.

And that happened time and time again over the last 10 years. Each time a new sale at a higher price, it pushed up the value of your house - but you didn't need to do ANYTHING AT ALL !!!!!!!!

Do you not realise it also works in reverse?

It only takes one seller and one buyer to agree to transact at a lower price than before for a similar property in the area, to bring down the values of all similar properties in an area.

Now you might like to believe it doesn't. You may be convinced you can hold out for what you think your house is worth.. Over time as more transactions go through at lower prices, and lower prices still, all what you think your house is worth, does not matter, because it will be very doubtful someone will come along and pay massively more than a market price.

You might not be desperate to move, and not inclined to lower your price, but other people - in your area - will have to move and will lower prices to do so. Others even might be desperate to do so, cutting the price drastically. That impacts on the market value of your house.

Welcome to the market.