closing tag is in template navbar
timefactors watches



TZ-UK Fundraiser
Page 9 of 47 FirstFirst ... 789101119 ... LastLast
Results 401 to 450 of 2344

Thread: Corona property prices

  1. #401
    Master
    Join Date
    Jun 2014
    Location
    Driffield, UK
    Posts
    3,122
    We've had four viewings in the last two weeks and another booked for tomorrow so things haven't really slowed re. our house sale. We're in a position to get out with just one months notice (another house sort of ready to move into) so that probably alters things. However our estate agent has said that things slowed down at the start of the second lock-up (sorry, lock-down) but I think this is more to do with the movement etc... restrictions. Of course we then have Christmas and God knows what that will do to the market.

  2. #402
    Master blackal's Avatar
    Join Date
    Mar 2012
    Location
    Scottish Borders
    Posts
    9,536
    Quote Originally Posted by solwisesteve View Post
    We've had four viewings in the last two weeks and another booked for tomorrow so things haven't really slowed re. our house sale. We're in a position to get out with just one months notice (another house sort of ready to move into) so that probably alters things. However our estate agent has said that things slowed down at the start of the second lock-up (sorry, lock-down) but I think this is more to do with the movement etc... restrictions. Of course we then have Christmas and God knows what that will do to the market.
    With a bit of luck you will get that sorted, but I can't help but think the 'drive' has diminished.
    A lot of people dig in for Christmas and postpone a move. Another driver is that in areas where the market is burgeoning - it is doubtful that the moves will be complete before the end of the tax holiday - so people are now waiting to see where the prices go. (If it gets extended, there will be a lot of pee'd off people)

    Sadly - in Scotland it wasn't a free-for-all, only on property below a threshold value.

  3. #403
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,005
    Will be interesting to see what happens in Jan. Back when I was in agency we worked on the assumption of a 10% fall through rate after the Christmas break so pushed hard for exchanges before Christmas. The stamp duty holiday might keep buyers from walking away but should be interesting.

  4. #404
    Master
    Join Date
    Sep 2011
    Location
    location, location
    Posts
    3,808
    Blog Entries
    1

    Corona property prices

    I’m no property expert. We recently had an offer accepted on a house, it was the right area and a quirky property that doesn’t ’come on the market that often.

    I think we may have overpaid a little, but there was nothing else like it in the area. Plus there are other reasons why we need to relocate.


    My gut feeling is (most) property will drop next year and if you can hold off I would.

  5. #405
    Master
    Join Date
    Feb 2015
    Location
    London, UK
    Posts
    2,993
    Yes I think the first half of 2021 is going to be very interesting. My guess is we’ll see a bit of a slowdown in the housing market, but if the “light at the end of the tunnel” keeps getting brighter this may not be too harsh. As for the stamp duty holiday.. well so much money is being thrown around at the moment I wouldn’t be surprised if he just extends it tbh.

  6. #406
    Master
    Join Date
    Jun 2014
    Location
    Driffield, UK
    Posts
    3,122
    Quote Originally Posted by Peck View Post
    Yes I think the first half of 2021 is going to be very interesting. My guess is we’ll see a bit of a slowdown in the housing market, but if the “light at the end of the tunnel” keeps getting brighter this may not be too harsh. As for the stamp duty holiday.. well so much money is being thrown around at the moment I wouldn’t be surprised if he just extends it tbh.
    I agree.... it's easy to print off a few more billion ;-)

  7. #407
    Grand Master Passenger's Avatar
    Join Date
    Apr 2014
    Location
    Cartagena, Spain
    Posts
    24,820
    Quote Originally Posted by Peck View Post
    Yes I think the first half of 2021 is going to be very interesting. My guess is we’ll see a bit of a slowdown in the housing market, but if the “light at the end of the tunnel” keeps getting brighter this may not be too harsh. As for the stamp duty holiday.. well so much money is being thrown around at the moment I wouldn’t be surprised if he just extends it tbh.
    Me neither, it's nuts from a sustainability and fairness to the coming generations pov but the housing market is critical to the wider economy, kinda totemic.

  8. #408
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,005
    If they do carry on and extend all these policies surely they aren't avoiding a pop, just making the pop bigger when it eventually happens?

  9. #409
    Master
    Join Date
    Feb 2015
    Location
    London, UK
    Posts
    2,993
    Quote Originally Posted by wileeeeeey View Post
    If they do carry on and extend all these policies surely they aren't avoiding a pop, just making the pop bigger when it eventually happens?
    Haha. You make it sound as if they care!

    As long as it’s not on ‘their watch’ is all that matters

  10. #410
    Grand Master Passenger's Avatar
    Join Date
    Apr 2014
    Location
    Cartagena, Spain
    Posts
    24,820
    Don't be left holding the bag when the music stops.

  11. #411
    Master
    Join Date
    Dec 2008
    Location
    Winchester
    Posts
    2,197
    Things are slowing. As others have said, the desire to complete by the end of the tax year is the key driver and with an ever narrowing window, pricing is already being reduced, albeit from what was often totally speculative levels. I gather conversion rates are down too, with less "agreed" deals going through, many thwarted by lending restrictions.

    I would have thought it will take until at least next summer to see more meaningful changes; whilst agents will already be trying to manage their clients expectations, there will inevitably be a transitional period in which sellers will continue to seek un-realistic pricing post end of the SDLT holiday if they do not have to move.

  12. #412
    Master
    Join Date
    Feb 2015
    Location
    UK
    Posts
    1,514
    Quote Originally Posted by thegreatdogwood View Post
    I gather conversion rates are down too, with less "agreed" deals going through, many thwarted by lending restrictions.
    I'm hearing and seeing the same. I'm looking at property in a couple of areas, and have noted that houses which appear to have been snapped up very quickly are reappearing sometimes months later, generally at a reduced asking price. An estate agent told me that in particular down-valuing is the highest he's known it. In consequence, while generally he advisors vendors not to cough up too much of a discount for cash buyers (on the grounds that it's generally only a question of waiting a few extra weeks for the mortgaged buyer to sort things out), he's currently wary due to the frequency of down-valuing, esp in the £400-500k zone.

  13. #413
    Master
    Join Date
    Feb 2014
    Location
    N/A
    Posts
    7,769
    I bought my first house in 1970 and prices have risen and dropped, risen again only to drop to rise yet again. The is something that will continue until us lot are have met our maker.

    However prices / rents will always be high because we are a little island with over 60million people in it. The pressure is not not to build on virgin land and nimbyism is now a well oiled machine. Even when planning permission is granted, it takes yonks to get it approved.

    To conclude, buying property is a one edged bet.

  14. #414
    Master
    Join Date
    Dec 2016
    Location
    Here and there mostly
    Posts
    1,432
    From the beeb.... house price growth

    https://www.bbc.co.uk/news/business-55143223

  15. #415
    Master murkeywaters's Avatar
    Join Date
    May 2013
    Location
    Near the sea
    Posts
    7,122
    Interesting and worth a watch..


  16. #416
    Master
    Join Date
    Dec 2014
    Location
    Unknown
    Posts
    5,719
    Blog Entries
    1
    Quote Originally Posted by murkeywaters View Post
    Interesting and worth a watch..

    I think that guy has been drinking from the same cup as Paul Thorpe, takes a long time to say not very much ...

    I don’t see how he packages all that up into a crash.

  17. #417
    Master
    Join Date
    Dec 2008
    Location
    Winchester
    Posts
    2,197
    Quote Originally Posted by Mick P View Post
    I bought my first house in 1970 and prices have risen and dropped, risen again only to drop to rise yet again. The is something that will continue until us lot are have met our maker.

    To conclude, buying property is a one edged bet.
    I agree with the broad sentiment, property is cyclical and the long term trend is positive. BUT there are plenty who have entered the market at the wrong time and found themselves in negative equity for a prolonged period, it is only a one way bet if you stay invested over a full cycle which can often be in excess of 10 years. No different to piling into the Dow Jones at present, long term trend may be positive but if you don't need to enter the market just at this moment then you would be well advised to take the cautious approach and watch over the next 6 months.

  18. #418
    Master
    Join Date
    Dec 2008
    Location
    Winchester
    Posts
    2,197
    Quote Originally Posted by Montello View Post
    I think that guy has been drinking from the same cup as Paul Thorpe, takes a long time to say not very much ...

    I don’t see how he packages all that up into a crash.
    I think "crash" is a little emotive, as conjures up visions of pricing coming off by 20%+ which rarely happens in the residential sector. Correction would be a more credible adjective where pricing might come off by say up to 10% for a typical scenario. I think the reality is that quite a lot of stock has been priced (and not always sold) at "aspirational" levels over the past 6 months, in the lockdown bubble and supported by the SDLT partial-suspension. If a property sells at 10% below that asking level down the line, it's probably no more than 5% down on where pricing actually sat pre-lockdown and would still look pretty full in many cases.

  19. #419
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,005
    A house nearby was up for "offers in the region of" and I've been on Rightmove almost daily to see what it eventually went for as I didn't think they would get the price. I thought in the region of meant "nearly" or "just about" and "offers in excess of" was the only time really where things went for more. It published last week and they got about 8% over the region price which is a significant sum. Quite a big house.

    We've now accepted that we're at the fork in the road where we don't have enough to get what we want but have a bit more than what it takes to get the tier below. There are houses which we could afford if they came up but in this area people don't sell for 30 years so good luck seeing one advertised.

    We put a message up in a local FB group and viewed one house off the back of it which was interesting but wouldn't have worked out. Next step is either writing letters.

    Maybe the stamp duty holiday ending will change things. Maybe the end of furlough will change things. Or maybe the vaccines come out and everything goes back to normal and the huge growth during Covid is the new benchmark. Either way I just want to buy a house and begin a new mortgage term. Later I start it the later I finish it.

  20. #420
    Master
    Join Date
    Dec 2016
    Location
    Here and there mostly
    Posts
    1,432
    Quote Originally Posted by Montello View Post
    I think that guy has been drinking from the same cup as Paul Thorpe, takes a long time to say not very much ...

    I don’t see how he packages all that up into a crash.
    i managed about 4 mins and then left it. I'm assuming the unnecessary long video is for income purposes.

  21. #421
    Master
    Join Date
    Dec 2014
    Location
    Unknown
    Posts
    5,719
    Blog Entries
    1
    Quote Originally Posted by Estoril-5 View Post
    i managed about 4 mins and then left it. I'm assuming the unnecessary long video is for income purposes.
    I assume so ... I only made it to the end as I was waiting for a delivery man ...

  22. #422
    Master
    Join Date
    Dec 2016
    Location
    Here and there mostly
    Posts
    1,432
    Recently seen a few drops in asking prices for houses that were overpriced imo. Guess they're trying to make sure they complete before the SDLT holiday ends.

    the ones that were priced sensibly disappeared almost instantly.

  23. #423
    Master blackal's Avatar
    Join Date
    Mar 2012
    Location
    Scottish Borders
    Posts
    9,536
    Quote Originally Posted by Estoril-5 View Post
    Recently seen a few drops in asking prices for houses that were overpriced imo. Guess they're trying to make sure they complete before the SDLT holiday ends.

    the ones that were priced sensibly disappeared almost instantly.
    Probably overpriced due to the seller thinking (of the buyer)- "You're saving a bundle on SDLT - I want a slice of that".

    I think that unless the scheme is extended - then offers accepted a few weeks ago, had already missed the deadline for completion in time (at least in burgeoning areas).

  24. #424
    Master murkeywaters's Avatar
    Join Date
    May 2013
    Location
    Near the sea
    Posts
    7,122
    The SDLT was all a bit false anyway, yes buyers got stamp duty holiday but sellers (agents) up'd their asking price accordingly, I imagine there are buyers who have paid more overall through the asking price being hiked than they would have had the SD stayed as it was.

  25. #425
    Master
    Join Date
    Sep 2011
    Location
    location, location
    Posts
    3,808
    Blog Entries
    1

    Corona property prices

    The question is, will they extend the SDLT or taper it off rather than a hard revert back to normal?

    I agree with the above, I do t think anyone will save any money due to the spike in price.

  26. #426
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,005
    The stamp duty holiday has helped increase prices even more. Headlines everywhere with landlords rushing to complete BTLs to save some money. Needs a hard stop at the end March imo.

  27. #427
    Master
    Join Date
    Dec 2008
    Location
    Winchester
    Posts
    2,197
    As I've posted a few times, it was utter madness on the part of Sunak doing this to start with, depriving treasury of an estimated $4bn when all that will happen is prices revert to where they would have been once it stops.

    My £0.02 is it has to end in March.

  28. #428
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,005
    Mortgage application submitted yesterday by phone. The advisor was able to approve us on the call and emailed us two hours later to say it's underwritten subject to survey and booking fee.

    Today we got an email to say it's passed a desktop valuation so no physical survey is required, just call up and pay the booking fee which holds the rate for 180 days and is fully refundable.

    No wonder prices are going up, it was all too easy. The hardest part seems to be getting the searches. Two boroughs nearby are quoting May and June for searches. Hackney can't even give searches due to a cyber attack. Our solicitor applied for searches yesterday and we'll see, the estimate is 60 days.

  29. #429
    Master
    Join Date
    Dec 2016
    Location
    Here and there mostly
    Posts
    1,432
    Quote Originally Posted by wileeeeeey View Post
    Mortgage application submitted yesterday by phone. The advisor was able to approve us on the call and emailed us two hours later to say it's underwritten subject to survey and booking fee.

    Today we got an email to say it's passed a desktop valuation so no physical survey is required, just call up and pay the booking fee which holds the rate for 180 days and is fully refundable.

    No wonder prices are going up, it was all too easy. The hardest part seems to be getting the searches. Two boroughs nearby are quoting May and June for searches. Hackney can't even give searches due to a cyber attack. Our solicitor applied for searches yesterday and we'll see, the estimate is 60 days.
    Wow and good luck with it all - that does seem ridiculously easy for a mortgage application.

  30. #430
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,005
    Quote Originally Posted by Estoril-5 View Post
    Wow and good luck with it all - that does seem ridiculously easy for a mortgage application.
    We uploaded three payslips each and I think a P60 each in advance of the call which probably helped. I bank with who we're getting the mortgage with, my wife banks with a different company but part of the same group which might have helped too. We don't have any loans, finance or debt of any kind just credit cards paid off in full each month for the points/cashback but even so a desktop valuation seems crazy. We've had desktop vals before for remortgages but never for a purchase (we weren't property owners during the last crash).

  31. #431
    Quote Originally Posted by wileeeeeey View Post
    Two boroughs nearby are quoting May and June for searches. Hackney can't even give searches due to a cyber attack. Our solicitor applied for searches yesterday and we'll see, the estimate is 60 days.
    I heard from my conveyancing solicitor last week that all was finished on the property I'm purchasing, from appointing him to searches complete was about 11 weeks. The vendor has also been informed that the searches for their new property are complete, they took about 9 weeks. Now we have Xmas and NY to get over it'll be early Jan when we exchange.

    This is in Essex and I was informed that C19 did slow the process down by maybe a week or two.

  32. #432
    Master blackal's Avatar
    Join Date
    Mar 2012
    Location
    Scottish Borders
    Posts
    9,536
    Quote Originally Posted by Middo View Post
    The question is, will they extend the SDLT or taper it off rather than a hard revert back to normal?

    I agree with the above, I do t think anyone will save any money due to the spike in price.
    I think it has stimulated the market, so kept all the services associated with property sales - benefiting.

    BUT - it has cost a fortune in lost revenues, and unless there is a cap - has been crazy for Inner London sales. Perhaps that was BoJo's intent from the start - to allow his cronies and supporters to make/save ££millions.

  33. #433
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,005
    Quote Originally Posted by CardShark View Post
    I heard from my conveyancing solicitor last week that all was finished on the property I'm purchasing, from appointing him to searches complete was about 11 weeks. The vendor has also been informed that the searches for their new property are complete, they took about 9 weeks. Now we have Xmas and NY to get over it'll be early Jan when we exchange.

    This is in Essex and I was informed that C19 did slow the process down by maybe a week or two.
    We're chain free and buying a chain free house so should be easy. The bank emailed the offer to us and our solicitor after the product fee was paid so nothing else to do on that side. We instructed the solicitor two days ago on the basis they would apply for searches the same day which they did. Quite a pricey firm but they answer the phone and have a receptionist who was working and not on leave.

    We're not far from Essex but are in a packed London borough which is being hammered with purchases. I have no doubt we'll be done before the stamp duty cut off but I'm honestly shocked by how easy it has all been. You hear horror stories re down valuations but nothing like that here.

  34. #434
    Quote Originally Posted by wileeeeeey View Post
    We're chain free and buying a chain free house so should be easy.
    Same as my situation. It has also been extremely easy my end, certainly easier than I thought it would be given my individual circumstances, and I got a superb interest rate to boot.

    The whole thing has gone so smoothly part of me is waiting for some massive calamity closer to the actual completion!

  35. #435
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,005
    Quote Originally Posted by CardShark View Post
    Same as my situation. It has also been extremely easy my end, certainly easier than I thought it would be given my individual circumstances, and I got a superb interest rate to boot.

    The whole thing has gone so smoothly part of me is waiting for some massive calamity closer to the actual completion!
    Or prices to plummet once we both complete!

  36. #436
    Craftsman
    Join Date
    Jul 2014
    Location
    Walsall
    Posts
    587
    We had an offer on ours yesterday, only been in since August 2019, 13% more than we paid, absolutely mad. Anyway long story short I’ve bottled it and we staying put. Can’t even see an end to this crisis.

  37. #437
    Master
    Join Date
    Feb 2013
    Location
    In the south
    Posts
    2,326
    We moved in on 10th December. Our house went on the market on 10th September, accepted an offer £15k over asking five days later. Found our new place approx 2 weeks later and had asking price offer accepted and off the market.
    Only two areas were slow - the mortgage offer two houses down the chain and our sellers mortgage. Everything else was surprisingly efficient. Between exchange and completion was 5 days.

  38. #438
    Master
    Join Date
    Dec 2016
    Location
    Here and there mostly
    Posts
    1,432
    Quote Originally Posted by Chinese_Alan View Post
    We had an offer on ours yesterday, only been in since August 2019, 13% more than we paid, absolutely mad. Anyway long story short I’ve bottled it and we staying put. Can’t even see an end to this crisis.
    Did you have something lined up for you to move on to?

    Sent from my moto g(8) power lite using Tapatalk

  39. #439
    Master Wolfie's Avatar
    Join Date
    May 2013
    Location
    Leicester
    Posts
    7,086
    Blog Entries
    1
    Quote Originally Posted by craig1912 View Post
    We moved in on 10th December. Our house went on the market on 10th September, accepted an offer £15k over asking five days later. Found our new place approx 2 weeks later and had asking price offer accepted and off the market.
    Only two areas were slow - the mortgage offer two houses down the chain and our sellers mortgage. Everything else was surprisingly efficient. Between exchange and completion was 5 days.
    That’s fantastic…. We couldn’t quite get over the line before Christmas and were advised not to exchange and complete on different days because of COVID / Brexit…

    All set for the 14th Jan…. Everything booked and ready to go…

    There seems to be a lot commitment in the 5 strong chain, so, I’m not unduly nervous

    And then the work begins…. We can drop our bags and be comfortable but have a large extension and loft conversion planned.

  40. #440
    Master blackal's Avatar
    Join Date
    Mar 2012
    Location
    Scottish Borders
    Posts
    9,536
    Seems that the scammers are out .........................

    https://www.theguardian.com/money/20...CMP=GTUK_email

    First paragraph:

    "Homebuyers have been warned to take steps to avoid being scammed during their purchase and after they move, with criminals targeting large sums of money, including house deposits.The looming end of the stamp duty holiday has fuelled a boom in the property market as people attempt to secure a new home without having to pay tax.
    But UK Finance, the organisation representing financial firms, said buyers were in danger of being manipulated by fraudsters into paying money into the wrong account.
    The Guardian has covered several cases of emails from solicitors being intercepted and replaced by new messages containing payment details for fraudsters’ accounts, including one where a homebuyer was tricked into sending more than £300,000 to criminals."

  41. #441
    Craftsman
    Join Date
    Apr 2018
    Location
    Hertfordshire
    Posts
    521
    Quote Originally Posted by blackal View Post
    Seems that the scammers are out .........................

    https://www.theguardian.com/money/20...CMP=GTUK_email

    First paragraph:

    "Homebuyers have been warned to take steps to avoid being scammed during their purchase and after they move, with criminals targeting large sums of money, including house deposits.The looming end of the stamp duty holiday has fuelled a boom in the property market as people attempt to secure a new home without having to pay tax.
    But UK Finance, the organisation representing financial firms, said buyers were in danger of being manipulated by fraudsters into paying money into the wrong account.
    The Guardian has covered several cases of emails from solicitors being intercepted and replaced by new messages containing payment details for fraudsters’ accounts, including one where a homebuyer was tricked into sending more than £300,000 to criminals."
    Sadly the scammers have always been active in this area. In general, given the information they can contain, email accounts are no way near as secure as they should be.

    Some solicitors and mortgage brokers are moving to secure messaging services, this will help to some degree but like with everything these days, take appropriate precautions.

  42. #442
    Master
    Join Date
    Oct 2012
    Location
    Hertfordshire
    Posts
    2,829
    Blog Entries
    1
    Quote Originally Posted by Captaincook View Post
    Sadly the scammers have always been active in this area. In general, given the information they can contain, email accounts are no way near as secure as they should be.

    Some solicitors and mortgage brokers are moving to secure messaging services, this will help to some degree but like with everything these days, take appropriate precautions.
    The advice we acted on when buying a house last year was use the details sent from the solicitor by snail mail.

  43. #443
    Master
    Join Date
    Feb 2013
    Location
    In the south
    Posts
    2,326
    Quote Originally Posted by JonRA View Post
    The advice we acted on when buying a house last year was use the details sent from the solicitor by snail mail.
    Our advice was to phone the solicitor to check the details

  44. #444
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,005
    Quote Originally Posted by JonRA View Post
    The advice we acted on when buying a house last year was use the details sent from the solicitor by snail mail.
    When we were paid out last October after selling our house the solicitor asked for our bank details only by phone only. Called me and asked, then called my wife and asked her too. Only sent when the same account number was confirmed twice.

  45. #445
    Master
    Join Date
    Dec 2014
    Location
    Unknown
    Posts
    5,719
    Blog Entries
    1
    In these situations it makes sense to make a test payment of £10 and once that is received do the balance.

    That’s what I do if I sell a watch to, not that much of an inconvenience to avoid funds going astray.

  46. #446
    Master Christian's Avatar
    Join Date
    Dec 2008
    Location
    London
    Posts
    9,876
    I think it would be common sense that if you are BACS or CHAPS transferring such large sums of money, not to solely trust the account details on an email. I phoned my solicitor up to read back to me the account details over the phone so I could check them against the email they sent. Seems some people out there are naive or too trusting if they’d take an unencrypted email and transfer hundreds of thousands of pounds to an account with details just in plain text.

    I’ve always wondered why banks wash their hands in this process...if you get scammed they seem to not want to help the victim even though that cash has got to be completely traceable. I can understand not wanting to go to the effort if it’s a few hundred pounds as it probably costs more to recover but £300,000? That’s got to warrant tracing?

  47. #447
    Journeyman welshmatt's Avatar
    Join Date
    Aug 2010
    Location
    Newport
    Posts
    98
    Quote Originally Posted by Montello View Post
    In these situations it makes sense to make a test payment of £10 and once that is received do the balance.

    That’s what I do if I sell a watch to, not that much of an inconvenience to avoid funds going astray.
    I've always done that with any new payee where I'll be sending a reasonable chunk of cash, although a solicitor many years ago tried to charge me 2x for their ridiculous electronic transfer fee.

    Sent from my Pixel 2 XL using Tapatalk

  48. #448
    Master Dan83bz's Avatar
    Join Date
    Nov 2011
    Location
    Prague, CZ
    Posts
    2,949
    This whole COVID has turned things bonkers indeed. Here in Prague, due to the situation where in the center suddenly a lot of high-end flats became available for rent (formerly AirBnb and other short-term lets), driving the rents down for some time, now stabilizing somewhat. Further from the center though, rental prices haven't gone down much and sale prices have continued their unrelenting increase if not accelerated during COVID, main cause being the overall huge imbalance between offer and demand in this city (the prime-minister is a huge property tycoon with +10 billion net worth so it works amazingly well for him and his cronies that the prices keep going up.). Right now a mortgage here is significantly more expensive than rent for the same quality, not to mention the location of most new developments is in the "sticks".

    I'm very curios to see what will transpire in coming years though, because I don't believe in the Tooth Fairy and the current prices of property as well as the meteoric ascend require a certain deep faith in the supernatural, once that faith pops, I believe many will be wailing. The average Czech person on the street has been actually buying the Kool Aid fully, meaning that most I've discussed with believe it's normal that prices went up like this and see nothing wrong with enslaving themselves to the banks for a meager small flat. As for owning a proper house within a reasonable commute distance, out of the question, 1/2 mil. € and up. I'm saving what I can for something down south when the time comes and in the meantime investing my savings in the markets rather than joining the property "scheme" game.
    Last edited by Dan83bz; 2nd January 2021 at 15:47.

  49. #449
    Grand Master wileeeeeey's Avatar
    Join Date
    Jan 2017
    Location
    N/A
    Posts
    19,005
    Quote Originally Posted by Montello View Post
    In these situations it makes sense to make a test payment of £10 and once that is received do the balance.

    That’s what I do if I sell a watch to, not that much of an inconvenience to avoid funds going astray.
    Did that when buying a car once second hand. My wife insisted we send a pound and then after it worked send the rest. I said there was no need as we were all in a local pub face to face with bank cards and proof of ID but it "made her feel more comfortable".

    The bank blocked all transactions in and out including direct debits and both our cards. We were stuck for about 6 hours in a pub waiting for funds to clear. Nothing we could do and no one we could call would stop the security chain that started. Apparently this is exactly the behaviour of scammers so sets off all the alarms. Wouldn't do it again for a same-day transaction. Would rather send half from one account and half from another.

  50. #450
    Master
    Join Date
    Dec 2014
    Location
    Unknown
    Posts
    5,719
    Blog Entries
    1
    Quote Originally Posted by wileeeeeey View Post
    Did that when buying a car once second hand. My wife insisted we send a pound and then after it worked send the rest. I said there was no need as we were all in a local pub face to face with bank cards and proof of ID but it "made her feel more comfortable".

    The bank blocked all transactions in and out including direct debits and both our cards. We were stuck for about 6 hours in a pub waiting for funds to clear. Nothing we could do and no one we could call would stop the security chain that started. Apparently this is exactly the behaviour of scammers so sets off all the alarms. Wouldn't do it again for a same-day transaction. Would rather send half from one account and half from another.
    I’ve never had an issue like that, maybe it was the amount that triggered the filters ...

    I bank with first direct and they are very hot on these matters.

    I’d rather be safe than sorry.
    Last edited by Montello; 2nd January 2021 at 15:54.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Do Not Sell My Personal Information