House Price Crash Discussion Thread

dudleyboy

PasturesNew wrote: »

I wish I could keep up and know who these big noises are, then I might be able to attach more meaning to what was being said.

My pennyworth: Everybody's playing a different game because there was only one pack of cards and we can't all have the aces first time round.

Sometimes if you appear to have made a false start, you can catch up later. If you fall at the first hurdle you can see how the others get round the course and work out what works/what doesn't and hope to be able to apply it next time.

Often people who have done well are sat on their thrones telling everybody that anybody can do it if only they worked harder/longer, etc.... but they don't realise that when the cards were handed out they just got the better deal.

Everybody has different experiences and expectations.

To me, the only measure of success is to not harm anybody along the way - and to help others where possible/

Beautifully put.

carolt

So where are the details of your fanclub, PasturesNew?

Membership urgently required....:)

Lotus-eater

pickledtink wrote: »

Dear heart!
I'm a lady! We don't whack off we palpitate in short breathes then faint in our corsets. *wavy finger icon which I cannot find right now*

Is it me, or are house price threads getting more interesting

John_Pierpoint

borntobefree wrote: »

Oh and I'd have to give the nice little "life time" tracker mortgage that I've got (that you can't match now) which will be saving me money for a long time......:D

Which bank? I want to move my deposit before it goes bust.

John_Pierpoint

setmefree2 wrote: »

The price you buy a house for is only part of what it actually costs. Just pop over to the mortgage free wannabe board for proof of this.

If I buy a house for £250k (in any market) and over pay it so that I clear the mortgage in 10 years I save myself £140k (roughly) over someone who does not over pay and continues to pay interest for 25 years. To concentrate solely on market values is incorrect,since in the end the interest rate and length of term will have more of a bearing on what you truly pay for your house than what you actually paid for it in the open market.:money:

It depends on the inflation rate ( and the risk of you losing your income). All through the 1970's I had an ever increasing infinity mortgage. Wonderful.

Turnbull2000

Turnbull2000 wrote: »

Following a valuation of 190K last year, my sister will be selling up shortly following divorce. It's a very tastefully decorated 3 bed terrace near the sea front of Whitley Bay. I reckon the EA will go for 175K.

Well, the valuations were done today by two EAs.

EA 1: 200K

EA 2: 220K

:eek:

WTF?_2

beingjdc wrote: »

Interest rates will come down again in the long term. Buying in and fixing for the long term when both prices and rates are high is madness, I don't understand how this isn't obvious to you.

It's going to be a balancing act if you are going to need a mortgage and want to get the best possible deal for yourself. You need to balance the following factors:

* Falling house prices.
* Inflation eating away at the value of cash assets such as your deposit.
* Low interest rates (to stimulate economy) but set to rise (because of inflation).


With a really good deposit it should be possible to secure a very nice house with a low LTV and a very good long term fixed interest rate.

John_Pierpoint

Turnbull2000 wrote: »

Well, the valuations were done today by two EAs.

EA 1: 200K

EA 2: 220K

:eek:

200K & 220K: are they just trying to flatter her to get her signed up & HIPped etc. ?

In the past, I have scanned the adverts to find something similar to my sale and then going and chatting up the seller. (I can recognise some places without the agent getting involved;)) If you are lucky they might just have two buyers competing and you can bag the one that has just failed in the "best & final" competition, with no agency fees.
Alternatively you can listen to a tale of woe about the initial price, the time waster, the dodgy chain etc. etc.

Anyway, I wish her luck.

John.

beingjdc

!!!!!!? wrote: »

It's going to be a balancing act if you are going to need a mortgage and want to get the best possible deal for yourself. You need to balance the following factors:

* Falling house prices.
* Inflation eating away at the value of cash assets such as your deposit.
* Low interest rates (to stimulate economy) but set to rise (because of inflation).


With a really good deposit it should be possible to secure a very nice house with a low LTV and a very good long term fixed interest rate.

Yeah. Well, a chunk of my deposit-fund just moved into the Lloyds ISA, so 6.5% for a year at least, reasonably safe from inflation. Though really, if house prices are falling, and the money is to buy a house, general inflation doesn't matter that much...

pickledtink

PasturesNew wrote: »

I wish I could keep up and know who these big noises are, then I might be able to attach more meaning to what was being said.

My pennyworth: Everybody's playing a different game because there was only one pack of cards and we can't all have the aces first time round.

Sometimes if you appear to have made a false start, you can catch up later. If you fall at the first hurdle you can see how the others get round the course and work out what works/what doesn't and hope to be able to apply it next time.

Often people who have done well are sat on their thrones telling everybody that anybody can do it if only they worked harder/longer, etc.... but they don't realise that when the cards were handed out they just got the better deal.

Everybody has different experiences and expectations.

To me, the only measure of success is to not harm anybody along the way - and to help others where possible/

Thanks for putting that across so well. Also the amount of agreement shown is heartening at a time which is obviously heartbreaking and frightening for many people.