Houses and depression
Aug 7th 2003, 5:47 am
#1
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Thread Starter
Joined: Jun 2002
Location: Gold Coast- the best place in the world
Posts: 3,196
Houses and depression
I can't believe how many awful posts there are on here about house selling. I am feeling really down thinking about everyone who is trying to sell their house and the hassles they are getting. You would think it would be an easy thing to do.
Maybe we should send all these email to Tony Blair so they are prompted to bring the situation back into the limelight again. The system in England needs changing- fast.
I hope it all improves soon for all of my fellow house sellers. Lets bet on a fast going Autumn.
Maybe we should send all these email to Tony Blair so they are prompted to bring the situation back into the limelight again. The system in England needs changing- fast.
I hope it all improves soon for all of my fellow house sellers. Lets bet on a fast going Autumn.
Aug 7th 2003, 5:54 am
#2
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Joined: Jul 2002
Location: was london now glenelg sa
Posts: 455
Re: Houses and depression
Originally posted by tinaj
I can't believe how many awful posts there are on here about house selling. I am feeling really down thinking about everyone who is trying to sell their house and the hassles they are getting. You would think it would be an easy thing to do.
Maybe we should send all these email to Tony Blair so they are prompted to bring the situation back into the limelight again. The system in England needs changing- fast.
I hope it all improves soon for all of my fellow house sellers. Lets bet on a fast going Autumn.
I can't believe how many awful posts there are on here about house selling. I am feeling really down thinking about everyone who is trying to sell their house and the hassles they are getting. You would think it would be an easy thing to do.
Maybe we should send all these email to Tony Blair so they are prompted to bring the situation back into the limelight again. The system in England needs changing- fast.
I hope it all improves soon for all of my fellow house sellers. Lets bet on a fast going Autumn.
:scared:
Aug 7th 2003, 5:55 am
#3
Home and Happy
Joined: Dec 2002
Location: Keep true friends and puppets close, trust no-one else...
Posts: 93,860
It seems to be causing more stress than the rest of the process. I really feel for all you guys - I've been renting for years since my "ex" kept our house, & couldn't afford to buy in Brighton if I wanted to. At times I've watched the prices going up, and wished I'd managed to buy again, but now I am just sooooooooo grateful I have nothing to sell. Keys back to landlord, end of story.
Tina's right, the system of buying and selling here is dreadful. Hope things pick up for people soon.
Pollyana
Tina's right, the system of buying and selling here is dreadful. Hope things pick up for people soon.
Pollyana
Aug 7th 2003, 5:58 am
#4
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Joined: Jun 2003
Location: Mandurah WA
Posts: 1,395
My thoughts exactly. My story is an ongoing saga from day to day, but think, oh they won't want to listen to all that again.
Still haven't sold yet. Totally peed off, but can't do anything about it.
Whisky
Still haven't sold yet. Totally peed off, but can't do anything about it.
Whisky
Aug 7th 2003, 6:05 am
#5
Banned
Joined: Aug 2002
Posts: 7,613
I must say the Scottish system is much better for buyers and sellers - lived in Glasgie a coupla years - you at least get contractual certainty at an early stage.
There's a lot to be said for the Aus/ NZ system where auctions play a much bigger part.
Good luck to all UK sellers - don't be shy or bashful about accepting a realistic price that might be a good 10-15% below what you 'thought' the house was worth based on false information. It'll be much worse when the Great UK Housing Bubble bursts next year.
There's a lot to be said for the Aus/ NZ system where auctions play a much bigger part.
Good luck to all UK sellers - don't be shy or bashful about accepting a realistic price that might be a good 10-15% below what you 'thought' the house was worth based on false information. It'll be much worse when the Great UK Housing Bubble bursts next year.
Aug 7th 2003, 6:12 am
#6
Home and Happy
Joined: Dec 2002
Location: Keep true friends and puppets close, trust no-one else...
Posts: 93,860
Let off steam on here Whisky - I sometimes think thats what the site is there for! Its dug me out of my doubts, as well as solving loads of queries, so use it as a pressure valve and unburden yourself!
Aug 7th 2003, 6:17 am
#7
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Joined: Apr 2003
Location: Ex-Bournemouth now Sunny Florida, heading for Perth
Posts: 110
[QUOTE]Originally posted by pleasancefamily
I must say the Scottish system is much better for buyers and sellers - lived in Glasgie a coupla years - you at least get contractual certainty at an early stage.
Well I wouldn't know about Scotland but here in Florida (and presumably the rest of the states) once you have agreed a price the buyer puts down a deposit (usually $1000 or up to 2.5% of the asking price) and, together with the seller, signs a sales contract "subject to financing' which means that the ONLY way a buyer can pull out of the deal without losing his deposit is if he cannot obtain a mortgage within an agreed amount of time. This is great for the seller as it is basically a done deal and the buyer has literally put his money where his mouth is!
Maybe someone could suggest this to Tony.....?
Wannabe Wallaby
I must say the Scottish system is much better for buyers and sellers - lived in Glasgie a coupla years - you at least get contractual certainty at an early stage.
Well I wouldn't know about Scotland but here in Florida (and presumably the rest of the states) once you have agreed a price the buyer puts down a deposit (usually $1000 or up to 2.5% of the asking price) and, together with the seller, signs a sales contract "subject to financing' which means that the ONLY way a buyer can pull out of the deal without losing his deposit is if he cannot obtain a mortgage within an agreed amount of time. This is great for the seller as it is basically a done deal and the buyer has literally put his money where his mouth is!
Maybe someone could suggest this to Tony.....?
Wannabe Wallaby
Aug 7th 2003, 6:21 am
#8
Banned
Joined: Aug 2002
Posts: 7,613
[QUOTE]Originally posted by WannabeWallaby
And it's better than that where I live now (not too far from Vienna) where the buyer does his checks and puts down 10% deposit. If buyer pulls out, 10% is lost to seller, if seller pulls out, seller has to repay buyer's 10% deposit plus another 10% on top. Stops gazumping and gazundering.
Originally posted by pleasancefamily
I must say the Scottish system is much better for buyers and sellers - lived in Glasgie a coupla years - you at least get contractual certainty at an early stage.
Well I wouldn't know about Scotland but here in Florida (and presumably the rest of the states) once you have agreed a price the buyer puts down a deposit (usually $1000 or up to 2.5% of the asking price) and, together with the seller, signs a sales contract "subject to financing' which means that the ONLY way a buyer can pull out of the deal without losing his deposit is if he cannot obtain a mortgage within an agreed amount of time. This is great for the seller as it is basically a done deal and the buyer has literally put his money where his mouth is!
Maybe someone could suggest this to Tony.....?
Wannabe Wallaby
I must say the Scottish system is much better for buyers and sellers - lived in Glasgie a coupla years - you at least get contractual certainty at an early stage.
Well I wouldn't know about Scotland but here in Florida (and presumably the rest of the states) once you have agreed a price the buyer puts down a deposit (usually $1000 or up to 2.5% of the asking price) and, together with the seller, signs a sales contract "subject to financing' which means that the ONLY way a buyer can pull out of the deal without losing his deposit is if he cannot obtain a mortgage within an agreed amount of time. This is great for the seller as it is basically a done deal and the buyer has literally put his money where his mouth is!
Maybe someone could suggest this to Tony.....?
Wannabe Wallaby
Aug 7th 2003, 7:12 am
#9
Forum Regular
Joined: Mar 2003
Posts: 168
Originally posted by pleasancefamily
I must say the Scottish system is much better for buyers and sellers - lived in Glasgie a coupla years - you at least get contractual certainty at an early stage.
There's a lot to be said for the Aus/ NZ system where auctions play a much bigger part.
Good luck to all UK sellers - don't be shy or bashful about accepting a realistic price that might be a good 10-15% below what you 'thought' the house was worth based on false information. It'll be much worse when the Great UK Housing Bubble bursts next year.
I must say the Scottish system is much better for buyers and sellers - lived in Glasgie a coupla years - you at least get contractual certainty at an early stage.
There's a lot to be said for the Aus/ NZ system where auctions play a much bigger part.
Good luck to all UK sellers - don't be shy or bashful about accepting a realistic price that might be a good 10-15% below what you 'thought' the house was worth based on false information. It'll be much worse when the Great UK Housing Bubble bursts next year.
05 August 2003
Halifax reports UK housing market remains strong
The UK housing market is strong with house prices increasing, the Halifax has claimed in its latest market survey.
The bank found that prices rose by 1.3% last month, and over the past three months house prices have risen by 3.4% – in line with the 3.4% increase during the preceding quarter.
The report also suggested that there was renewed activity in London's mainstream housing market with Halifax Estate Agents reporting an increase in the number of properties coming onto the London and South East mainstream market.
There continues to be a chronic shortage of houses particularly in the South East, the report claims. In 2002, a total of just over 170,000 new homes were built in Britain, slightly above the 2001 figure of 162,000, which was the lowest number of new homes built in any year since 1949.
If current levels of house-building are not increased in London and the South East, and the decline established over the past 15 years reversed, Halifax calculates that there will be a cumulative shortage of dwellings in those regions of around 500,000 by 2021.
Martin Ellis, Chief Economist, said: "The housing market is strong. With mortgage rates at a 50-year low, benign employment prospects and affordability levels well below the long term average, the housing market continues to be underpinned by strong fundamentals."
Bank of England figures show that total lending to individuals grew to record levels during June. Lending increased by £10 billion in June, taking consumer debt to the highest level since records began in 1993.
Although personal debt is at an all-time high, the impact of 50-year low interest rates has meant that debt is very affordable, the survey found.
Across the UK, the average new borrower is spending 14% of average gross earnings on mortgage payments, well below the average of 22% since 1983. According to the Council of Mortgage Lenders, the average loan to value (LTV) is currently 65% - down slightly from 66% in 2002.
(GMcG)
Aug 7th 2003, 7:27 am
#10
Banned
Joined: Aug 2002
Posts: 7,613
Originally posted by porkchop
UK housing market remains boyant.
05 August 2003
Halifax reports UK housing market remains strong
The UK housing market is strong with house prices increasing, the Halifax has claimed in its latest market survey.
The bank found that prices rose by 1.3% last month, and over the past three months house prices have risen by 3.4% – in line with the 3.4% increase during the preceding quarter.
The report also suggested that there was renewed activity in London's mainstream housing market with Halifax Estate Agents reporting an increase in the number of properties coming onto the London and South East mainstream market.
There continues to be a chronic shortage of houses particularly in the South East, the report claims. In 2002, a total of just over 170,000 new homes were built in Britain, slightly above the 2001 figure of 162,000, which was the lowest number of new homes built in any year since 1949.
If current levels of house-building are not increased in London and the South East, and the decline established over the past 15 years reversed, Halifax calculates that there will be a cumulative shortage of dwellings in those regions of around 500,000 by 2021.
Martin Ellis, Chief Economist, said: "The housing market is strong. With mortgage rates at a 50-year low, benign employment prospects and affordability levels well below the long term average, the housing market continues to be underpinned by strong fundamentals."
Bank of England figures show that total lending to individuals grew to record levels during June. Lending increased by £10 billion in June, taking consumer debt to the highest level since records began in 1993.
Although personal debt is at an all-time high, the impact of 50-year low interest rates has meant that debt is very affordable, the survey found.
Across the UK, the average new borrower is spending 14% of average gross earnings on mortgage payments, well below the average of 22% since 1983. According to the Council of Mortgage Lenders, the average loan to value (LTV) is currently 65% - down slightly from 66% in 2002.
(GMcG)
UK housing market remains boyant.
05 August 2003
Halifax reports UK housing market remains strong
The UK housing market is strong with house prices increasing, the Halifax has claimed in its latest market survey.
The bank found that prices rose by 1.3% last month, and over the past three months house prices have risen by 3.4% – in line with the 3.4% increase during the preceding quarter.
The report also suggested that there was renewed activity in London's mainstream housing market with Halifax Estate Agents reporting an increase in the number of properties coming onto the London and South East mainstream market.
There continues to be a chronic shortage of houses particularly in the South East, the report claims. In 2002, a total of just over 170,000 new homes were built in Britain, slightly above the 2001 figure of 162,000, which was the lowest number of new homes built in any year since 1949.
If current levels of house-building are not increased in London and the South East, and the decline established over the past 15 years reversed, Halifax calculates that there will be a cumulative shortage of dwellings in those regions of around 500,000 by 2021.
Martin Ellis, Chief Economist, said: "The housing market is strong. With mortgage rates at a 50-year low, benign employment prospects and affordability levels well below the long term average, the housing market continues to be underpinned by strong fundamentals."
Bank of England figures show that total lending to individuals grew to record levels during June. Lending increased by £10 billion in June, taking consumer debt to the highest level since records began in 1993.
Although personal debt is at an all-time high, the impact of 50-year low interest rates has meant that debt is very affordable, the survey found.
Across the UK, the average new borrower is spending 14% of average gross earnings on mortgage payments, well below the average of 22% since 1983. According to the Council of Mortgage Lenders, the average loan to value (LTV) is currently 65% - down slightly from 66% in 2002.
(GMcG)
Aug 7th 2003, 7:33 am
#11
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Joined: Dec 2002
Location: newbury
Posts: 1,015
spoke to someone in the mortgage business..
london s.e -stagnent
north -doing well due to the 'buy to lets'
cheers
richard
london s.e -stagnent
north -doing well due to the 'buy to lets'
cheers
richard
Aug 7th 2003, 7:40 am
#12
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Joined: Jun 2003
Location: Mandurah WA
Posts: 1,395
Well Porkchop, can you explain to the rest of us, why we hardly get anyone coming to look at the homes that are on the market, and then when we do get buyers, the whole thing seems to go hay wire? Theres no point coming up with your statistics, unless you can sell my house, and I can be in Oz in 6 weeks time.
Look forward to your reply!!!!!!
Whisky
Look forward to your reply!!!!!!
Whisky
Aug 7th 2003, 7:59 am
#13
Forum Regular
Joined: Apr 2003
Posts: 123
Originally posted by whisky
Well Porkchop, can you explain to the rest of us, why we hardly get anyone coming to look at the homes that are on the market, and then when we do get buyers, the whole thing seems to go hay wire? Theres no point coming up with your statistics, unless you can sell my house, and I can be in Oz in 6 weeks time.
Look forward to your reply!!!!!!
Whisky
Well Porkchop, can you explain to the rest of us, why we hardly get anyone coming to look at the homes that are on the market, and then when we do get buyers, the whole thing seems to go hay wire? Theres no point coming up with your statistics, unless you can sell my house, and I can be in Oz in 6 weeks time.
Look forward to your reply!!!!!!
Whisky
our house goes to auction a week tuesday had 30+ people round in last 2 weeks looking at it (block viewing only) 10% deposit required on the night. Got a reserve but any realistic bid accepted if we don't get sufficent interest. Lets hope we get some competition on the night and they all get auction fever - we'll see.
James
Aug 7th 2003, 8:02 am
#14
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Joined: Jun 2003
Location: Mandurah WA
Posts: 1,395
Originally posted by james & bev
buy,buy,buy
our house goes to auction a week tuesday had 30+ people round in last 2 weeks looking at it (block viewing only) 10% deposit required on the night. Got a reserve but any realistic bid accepted if we don't get sufficent interest. Lets hope we get some competition on the night and they all get auction fever - we'll see.
James
buy,buy,buy
our house goes to auction a week tuesday had 30+ people round in last 2 weeks looking at it (block viewing only) 10% deposit required on the night. Got a reserve but any realistic bid accepted if we don't get sufficent interest. Lets hope we get some competition on the night and they all get auction fever - we'll see.
James
Good luck, hope the bidding goes through the roof
Whisky
Aug 7th 2003, 8:07 am
#15
Forum Regular
Joined: Apr 2003
Posts: 123
Originally posted by whisky
Good luck, hope the bidding goes through the roof
Whisky
Good luck, hope the bidding goes through the roof
Whisky
either way - win or lose on the booze!!!
James
