And another bear bites the dust... mbga9pgf's epiphany....

new_home_owner_3

StevieJ wrote: »

He has saved £47k in the past 12 months, and they only earn 38k net (after expenses), I note he only holds cash, some going :eek:

I told you i could remember him posting about only having 30,000 pound and now the man has saved more than what him and his partner earn, he his just another walter mitty, just like geofkky....

It just goes to show whilst he was coming on here preaching and hoping house preices would fall, he also had his monopoly money out adding it to his real money, ive never known so many losers!!!!!!!!!!!!!!!

nollag2006

new_home_owner wrote: »

I have to agree with you there cleaver he was, these people on here seem to have very short memorys, another one is that GEOFKKY, he posted a reply to me last year after i bought in November saying i had made a big mistake and i didnt now what i had let myself into in the future, and all the time the blokes buying a month later.

Oh and of course Geofkky buys a house he got 120k off the house hes only had a month and its gone up 50,000 pound, where do these people come from?????

Yip - I'd forgotten Geoffky, another "died in the wool" bear who finally saw the error in their ways!

Hope you are enjoying your new home !!

new_home_owner_3

It looks like he's changed his mind and hes now buying, i think he still might be telling porkies somewhere along the line, but it does make me laugh.

Hes now posted this on hpc:Tgood luck with your purchase:rotfl::rotfl::rotfl:

mbga9pgf

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Posted Today, 12:03 AM
Our offer on the repo has been accepted, so as long as our valuation comes in above offer and no one counter bids on the last remaining day to view, we should be completing in 2 to 3 weeks.

I have seen a pretty vitriolic thread over at MSE regarding my change of heart, but I can assure you that victory will taste sweet, especially as we will be purchasing at 30% off the original list price with a 30% deposit, something I could not have dreamed of doing 5 years ago if I had gotten on the ladder with minimal deposit. The best I could have hoped for would have been a reduction in my mortgage on a 3 bed flat, I am now looking 5 years on at putting a 30% deposit down on one of the most fantastic homes I have seen. We put an offer in, less than 10 minutes after walking through the front door.The house needs work, but it is nowhere near a wreck and is well within my basic DIY skills to put right, with only a little re-wiring to do (family member to do) and a wall that needs taking back to brickwork and re-plastering. Nothing I havent handled before.

We will be only paying 1/4 of our take home and the mortgage, although 3.5X joint salary is a bit bigger than I was hoping, is a good deal and we arent planning to move any time in the next 40 years. We have factored rates going to 10% worst case in the aftershocks over the upcoming 12 months, although to be honest, I reckon rates wise, base rates will stay low and market rates will rise especially once the SLS ends. Its this that will kill the market, together with those lapsing off the SMI scheme. We can afford the long term average of 8%; I am not sure the rest of the UK will be able to do the same.

All I would say though, I am still expecting a SIGNIFICANT fall in prices, within the next 6-12 months, that hopefully will see prices fall below their last trough. I say this as a prospective homeowner. This NEEDS to happen, or we are risking a significant demographic timebomb on the horizon. I have spoken to a few locals and it appears they are keen for a "youngun" to apply to be on the local parish council. If I do, NIMBYism towards FTBs is something I will have to speak against.

Those that say "the government will prevent house price falls again' I believe will be wrong. They simply dont have teh cash to repeat their meddling, nor will the market tolerate it. As they say, you cant buck the market, and prices cant stay at these levels for much longer. The amount of pain the hung parliament will inflict will make house price falls seem pretty innocuous to most, besides, the hung Tory led government can let it happen and blame it on Labours mismanagement. That will do wonders for a second election in a further 12 months.

This site has most definately saved us a fortune. All I would say to you all, the market "average" price is a bit of a weird thing. There are bargain properties out there, but you need to have your sh*t together and be able to move quick once you have decided to buy. Together with the top mortgage deal due to the mahoosive deposit, we are looking to buy a home that last sold for 370K in 2006 and we are getting a BIG discount off this price, somewhere around Q2 2004 local average I reckon. I am not making this up and will prove this once we complete. Oh, and it ticks EVERY box on the mrs mbga list of nice things about a house. This is why we have decided to buy; over the past 2 years, this is only the second house we have offered on. As always, the advice "if you arent embarrassed by your offer, its not low enough" is pretty extant.

Old Hamish can shove that in his f*cking sporran. Whilst he will forever remain a sad little scottish tw*t forever winding up those who were unfortunately unable to buy when prices were sensible. We will be Enjoying our HOME (I will have a seperate self investment pension fund starting soon) that we worked for, will live in it hopefully till the kids leave home, and will not give a sh*t if prices fall significantly. I hope the Tories F*cking decimate the place over the next 5 years.

If we complete, my next post will be my last on here; please guys, keep the fingers and toes crossed for me, because the last 4 years of saving have not been easy and if we pull this off, it will have made it worth all the hassle!

HAMISH_MCTAVISH

There are not enough self satisfied smilies in the world to express how much that post makes me laugh.

Clownshoes bought a house. After telling everyone else not to.

And of course, is now wishing for prices to fall....... Yeah, right.....

Well, if he was that confident prices will be plummeting, he'd wait. End of story.

As with the rest of the bears now buying, they finally figured out they've been wrong, wrong, wrong, and are now correcting the mistake whilst they can still buy at a few percent below peak, having missed out on the gains they could have made last year.

Everything else is just BS.

nembot

I do admire your optimism at times Hamish, although I think there are fewer guarantees to the future.

The guy will save 30% off what many think is an average price, not quite sure how this is a bad thing.

Doctor_Gloom

new_home_owner wrote: »

All I would say though, I am still expecting a SIGNIFICANT fall in prices, within the next 6-12 months,

He got that bit right at least.

Doctor_Gloom

new_home_owner wrote: »

Old Hamish can shove that in his f*cking sporran. he will forever remain a sad little scottish tw*t

I nominate this for Post of the Month. :rotfl:

HAMISH_MCTAVISH

nembot wrote: »

The guy will save 30% off what many think is an average price, not quite sure how this is a bad thing.

Of course he did.....:rotfl:

Sounds more like a face saving excercise to me.;)

What is it with these bears and their fairy stories?

Why can't they just man up and admit they were wrong, instead of propagating a dangerous delusion that it is paying to wait, when clearly it isn't?

doire_2

chucknorris wrote: »

He posted that housepricecrash post yesterday yet he also posted this:
http://forums.moneysavingexpert.com/showthread.html?t=2376675&highlight=

here yesterday too saying prices will collapse 6 months after the election

On HPC he was asked about the above post yet has failed over and over again to answer it.

Its obvious the guy doesn't know his ar.se from his elbow


End of thread Hamish.

stueyhants

Hamish, I waiting and got about 16% off peak prices and still bagged a decent mortgage rate. Was that stupid, should I have paid peak price like you did ?