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Is it too late to sell a house in Northern Ireland???

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Comments

  • Im feeling sick here we have a mortage and loan for £120,000 and the checking property news the house prices are at £75,000 :eek: this is in Rathcoole and our fix is up next year.
  • leftieM
    leftieM Posts: 2,181 Forumite
    Part of the Furniture Combo Breaker

    That's the figure for Q3 2008.
    Stercus accidit
  • tara747
    tara747 Posts: 10,238 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    leftieM wrote: »
    That's the figure for Q3 2008.

    Yes, they've fallen even lower since.
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
  • SnowyOwl_2
    SnowyOwl_2 Posts: 5,257 Forumite
    1,000 Posts Combo Breaker
    one2escape wrote: »
    Im feeling sick here we have a mortage and loan for £120,000 and the checking property news the house prices are at £75,000 :eek: this is in Rathcoole and our fix is up next year.

    Good old negative equity...I've gone through that too. It's not much consolation right now, but about all you can do is grit your teeth and wait until house prices go up again, which they will whenever this recession ends. As long as you're not moving it doesn't matter if your house is worth 2p or £2million...
  • one2escape wrote: »
    Im feeling sick here we have a mortage and loan for £120,000 and the checking property news the house prices are at £75,000 :eek: this is in Rathcoole and our fix is up next year.


    you might not need to change your mortgage. can you just continue to pay the higher rate on your current mortgage at end of the fixed term. what amount does it revert too it might be better with that having to get another deal.....i don't know though, only thinking aloud.
    MFW 148 - Mortgage £121,000 1Jan11 / Mortgage £120,300 28Jan11 / £119,808 24Feb11 / £119,400 22 April11 / £119,089 29 May11 / £118,500 October11
  • rjh090384
    rjh090384 Posts: 2,224 Forumite
    Part of the Furniture Combo Breaker
    have reduced my price today we found a house we relaly like so fingers crossed ours sells. redulced it by 550000 to below stamp duty mark so fingers crossed
    love you lots like jelly tots :o
  • rjh090384 wrote: »
    have reduced my price today we found a house we relaly like so fingers crossed ours sells. redulced it by 550000 to below stamp duty mark so fingers crossed


    good luck, did you mean 55,000?!

    My friend just sale agreed on a house today!
    MFW 148 - Mortgage £121,000 1Jan11 / Mortgage £120,300 28Jan11 / £119,808 24Feb11 / £119,400 22 April11 / £119,089 29 May11 / £118,500 October11
  • rjh090384
    rjh090384 Posts: 2,224 Forumite
    Part of the Furniture Combo Breaker
    lmao yes i meant 55000 oops!!
    love you lots like jelly tots :o
  • tara747
    tara747 Posts: 10,238 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Belfast prices fell 37% in the last 12 months... down to £190k. NI average price now down from £229k to £138k. And likely more to come! This baby is like an oil tanker and will not turn anytime soon. Reckon mid 2010 might be the time to buy if these falls keep up.
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
  • leftieM
    leftieM Posts: 2,181 Forumite
    Part of the Furniture Combo Breaker
    tara747 wrote: »
    Reckon mid 2010 might be the time to buy if these falls keep up.

    That's when we're thinking about buying too. I keep an eye on the market and it's coming back into range but houses are still not cheap by any measure.
    Stercus accidit
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