Your house may never be worth as much again

StevieJ

pop_gun wrote: »

it beggars belief bulls actually exist in this new age of austerity.

They do, what was it that Warren Buffett said?

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

BTW if you had a couple of million dollars spare you could have had lunch with him

A Chinese fund manager has paid $2.1m at an annual charity auction for a meal with financier Warren Buffett.

http://auctions-auctioneering.blogspot.com/2008/06/21m-is-top-auction-bid-for-dinner-with.html

PasturesNew

diable wrote: »

Hmmmm I may move to the garage at the end of the garden and then let the house out for the maximum allowed for housing benefit, should be quids in ;o)))

You might think that's a laugh, but believe me, in Cornwall it happens a lot. Either a whole house, or B&B owners ... most have a big ole shed in the garden that they de-camp to, in order to maximise the income potential of their house. Others literally let out their illegally converted garage, or the shed itself.

Blacklight

Graham_Devon wrote: »

LOL.

I take it this is all based on guess's and mere assumptions?

I know someone who had their house built for them about 2 years ago. The land and legal fee's made up 90% of the cost at least. The actual cost to construct the house, ignoring materials, was just shy of 12k. Up in 3 months from scratch.

I think you may be forgetting that you do not require all those people (of whom, many are the same person doing various jobs) full time every day of the build. You may need the window fitters for a couple of days if everything is standard, not the entire 3 month build.

Oh dear, where do you start...

Land and 'legal fees'? By that I assume you mean paying building control for the inspections and submitting a planning application? Possibly solicitor fees for dealing with land registry and funders. Are you including design fees, drawing production and the cost of consultant engineers in this too?

So excluding materials but including the 90% on land and 'legal fees' it was £12k?

I don't know what to say about that. £12k for land, 'legal fees' and 12 weeks labour. Was he building it in Zimbabwe?

Proof if any were needed that you really have no concept of reality.

Harry_Powell

Devon's theoretical examples and 'real-life' cases (and sad stories of 'friends' misfortunes) are all a bit wild and wooly. As they say in The Life of Brian, "Oh, he's making it up as he goes along!".

StevieJ

Harry_Powell wrote: »

Devon's theoretical examples and 'real-life' cases (and sad stories of 'friends' misfortunes) are all a bit wild and wooly. As they say in The Life of Brian, "Oh, he's making it up as he goes along!".

He never seems to look on the bright side of life.

IveSeenTheLight

Graham_Devon wrote: »

Funny that. I thought you may just say that in response. Lucky guess eh!?

Isn't it funny that you thought the same as JohnnyBravo in that macaque would be better off in order for you to think JohnnyB would respond as he did.

No need for crystal balls, you guys have got it sussed.

System

pop_gun wrote: »

all the bull really need to do to get the full picture is browse other forums in MSE. for instance 'in housing, renting and selling', there's a thread where the OP said their house has been on the market for 3 months without a SINGLE viewer for the property.

Thanks for this post, I totally see the full picture now after that example of a single property.

StevieJ

Graham_Devon wrote: »

Funny that. I thought you may just say that in response. Lucky guess eh!?

Strange that, I thought you might chirp in, Lucky guess eh!?

IveSeenTheLight

macaque wrote: »

Here is some bedtime reading for you.

http://www.ft.com/cms/s/2/53da7c84-8f5b-11df-ac5d-00144feab49a.html?ftcamp=rss

Interesting survey from spareroom.co.uk.
Yep, I hadn't heard of them before either so here's a link
www.spareroom.co.uk

I couldn't find details of their actual survey, but it seems the website is for people to share property, something which a few people in here have indicated that there is likely to be a rise in shared ownership properties going forward.

As there is no detail to look into, you may find this link interesting reading.
http://www.cml.org.uk/cml/media/press/2612
and
http://www.cml.org.uk/cml/media/press/2613

Based on 1,237,179 BTL properties only 19,300 properties were in arrears of more than 1.5% of the mortgage balance.
This figure is reducing from 20,700 (1.69%) at the end of 2009 and 28,800 (2.47%) of loans a year ago.

The same also applies to the total morgage loans

The proportion of mortgages in arrears also fell. The total proportion of loans with arrears equivalent to 2.5% or more of the mortgage balance was 1.64%, down from 1.72% in the previous quarter and 1.87% in the first quarter of 2009. The number of loans in arrears was down from 206,800 at the end of the first quarter of 2009 and 196,400 at the end of last year to 186,300 at the end of the first quarter of this year.

mumps

DS is just moving out of his house, he put it on the market and sold it within days, had three offers, two £5k below asking price and one at full price. He would have settled for £10k less so was really pleased. He bought at almost top of the market and made a slight profit,I guess the picture varies alot round the country.