QUOTE
Mortgage debt in Northern Ireland is rising faster than anywhere else in the UK, the Belfast Telegraph can reveal today.
http://www.belfasttelegraph.co.uk/news/loc...icle3549261.ece
http://www.belfasttelegraph.co.uk/news/loc...icle3549261.ece
Good, bearish news, but this sounds like it could have been written 6 months ago.
'where the NI average is £250,586, and the UK is £222,256' - 250k was last summer IIRC. Isn't it pretty lazy to still be using this figure or is this all we have to work with?
'There's an affordability crisis looming' - looming?! It's been looming since at least last summer and perhaps for a year or so before that.
One thing is for certain, the repossessions will continue to go up with prices and credit markets as they are.
'where the NI average is £250,586, and the UK is £222,256' - 250k was last summer IIRC. Isn't it pretty lazy to still be using this figure or is this all we have to work with?
'There's an affordability crisis looming' - looming?! It's been looming since at least last summer and perhaps for a year or so before that.
One thing is for certain, the repossessions will continue to go up with prices and credit markets as they are.
QUOTE (Traktion @ Mar 26 2008, 12:22 AM) 
Good, bearish news, but this sounds like it could have been written 6 months ago.
'where the NI average is £250,586, and the UK is £222,256' - 250k was last summer IIRC. Isn't it pretty lazy to still be using this figure or is this all we have to work with?
'There's an affordability crisis looming' - looming?! It's been looming since at least last summer and perhaps for a year or so before that.
One thing is for certain, the repossessions will continue to go up with prices and credit markets as they are.
'where the NI average is £250,586, and the UK is £222,256' - 250k was last summer IIRC. Isn't it pretty lazy to still be using this figure or is this all we have to work with?
'There's an affordability crisis looming' - looming?! It's been looming since at least last summer and perhaps for a year or so before that.
One thing is for certain, the repossessions will continue to go up with prices and credit markets as they are.
230k average according to the last quarterly report.
A 39% rise in prices in one year - I had forgotten that things has risen so quickly.
Should anyone be even slightly surprised if prices plummet?
Should anyone be even slightly surprised if prices plummet?
QUOTE (JoeDavola @ Mar 26 2008, 12:00 PM)
Should anyone be even slightly surprised if prices plummet?
Nope, but I bet they will be! Remember, house prices only ever go up!
QUOTE (pod @ Mar 25 2008, 11:29 PM)
Any fool could have seen that story coming in the Belfast Telegraph yesterday a long time ago. 52% of all the properties up for auction at Wilsons tomorrow in Mallusk are repossessions …. And this is just the tip of the iceberg. Just wait for the spate of repo’s similar to what has happened in Cleveland, Ohio to hit NI and there’ll be lots of houses blighted whether they be owner occupied in previously good areas, rented out, on the market for sale or just sitting empty and boarded up. Then our housing market here really will hit rock bottom. Anyone who saw the recent Channel 4 Dispatches programme about how the banks gamble with our money will know what I am referring to. The repossession tsunami is not that far off and its effects will be far reaching - even for strong swimmers.
QUOTE (paul65 @ Mar 26 2008, 05:20 PM)
52% of all the properties up for auction at Wilsons tomorrow in Mallusk are repossessions
How do you know which are repossessions?
QUOTE (pod @ Mar 26 2008, 03:23 PM)
How do you know which are repossessions?
Repo properties (lots) are clearly indicated at the auction (they have to be as in some cases they have different terms and conditions financially) compared to the other lots. I was working off information contained in a flyer I was emailed last week (see below)
Click to view attachment
QUOTE (JoeDavola @ Mar 26 2008, 12:00 PM)
A 39% rise in prices in one year - I had forgotten that things has risen so quickly.
And do not neglect that the year previous, the growth was as high as 49% depending on who you believe! So in a 2 years term, prices doubled.
QUOTE (paul65 @ Mar 26 2008, 03:42 PM)
Repo properties (lots) are clearly indicated at the auction (they have to be as in some cases they have different terms and conditions financially) compared to the other lots. I was working off information contained in a flyer I was emailed last week (see below)
Click to view attachment
Click to view attachment
If this gets any worse Paul, there will be an auction every week!
QUOTE (pod @ Mar 26 2008, 03:23 PM)
How do you know which are repossessions?
Pod et al,
These are the repossession properties. I managed to get my hands on the reserve values (cunning!) so you know what the properties must achieve as a minimum. It is very handy knowing this as stuff won't sell for less.
All properties are currently rented out with tenants so there's clearly a lot of BTL'ers in trouble out there in the big bad world.
You'll also note that there's a large no of properties in Armagh here (Lurgan and Waringstown especially). Oaktree Manor, Avenue Road, and Logan Drive all come in for special attention.
Anyhow the data is as follows:
ADD 1 ADD 2 COUNTY P'CODE RESERVE (£) WILSONS GUIDE (£)
102 Avenue Rd Lurgan Armagh BT66 7BH 75,000 90,000
112 Union St Lurgan Armagh BT66 8ED 65,000 80,000
114 Avenue Rd Lurgan Armagh BT66 7BH 65,000 75,000
114 Castle View Gilford Armagh BT63 6JS 70,000 85,000
12 Monroe Av Lurgan Armagh BT66 7BR 70,000 90,000
10 Oaktree Man Waringstown Armagh BT63 5TJ 80,000 110,000
122 Rogan Manor N’abbey Antrim BT36 4BB 90,000 110,000
13 Shima Walk Lurgan Armagh BT66 8NH 75,000 80,000
14 Oaktree Man Waringstown Armagh BT66 7PG 85,000 110,000
143 Avenue Road Lurgan Armagh BT66 7BH 75,000 90,000
16 Hamilton St Lurgan Armagh BT66 7DX 50,000 65,000
163 Avenue Rd Lurgan Armagh BT66 7BH 75,000 90,000
165 Avenue Rd Lurgan Armagh BT66 7BH 65,000 75,000
17 The Square T'ragee Armagh BT62 2AA 75,000 85,000
20 Oaktree Man Waringstown Armagh BT63 5TJ 80,000 110,000
24 Logan Dr Lurgan Armagh BT66 8DA 70,000 75,000
26 Logan Dr Lurgan Armagh BT66 8DA 70,000 75,000
29 Pollock Dr Lurgan Armagh BT66 8JN 70,000 75,000
29 Princeton Av Lurgan Armagh BT66 8LW 70,000 90,000
3 Glenavon Cres Lurgan Armagh BT66 8JR 70,000 80,000
6 Willowfield T'ragee Armagh BT62 2EJ 60,000 75,000
7 Oaktree Man Waringstown Armagh BT63 5TJ 75,000 90,000
7 Hamilton St Lurgan Armagh BT66 7DX 50,000 70,000
8 Oaktree Man Waringstown Armagh BT66 7PG 80,000 110,000
Apt 4 Windsor Ave P'down Armagh BT63 5DB To Follow To Follow
Further information on the lots up for auction tonight in Mallusk can be found here http://www.wilsonsauctions.com/property_mallusk.asp
QUOTE (paul65 @ Mar 27 2008, 08:35 AM)
Pod et al,
These are the repossession properties. I managed to get my hands on the reserve values (cunning!) so you know what the properties must achieve as a minimum. It is very handy knowing this as stuff won't sell for less.
All properties are currently rented out with tenants so there's clearly a lot of BTL'ers in trouble out there in the big bad world.
You'll also note that there's a large no of properties in Armagh here (Lurgan and Waringstown especially). Oaktree Manor, Avenue Road, and Logan Drive all come in for special attention.
Anyhow the data is as follows:
ADD 1 ADD 2 COUNTY P'CODE RESERVE (£) WILSONS GUIDE (£)
102 Avenue Rd Lurgan Armagh BT66 7BH 75,000 90,000
112 Union St Lurgan Armagh BT66 8ED 65,000 80,000
114 Avenue Rd Lurgan Armagh BT66 7BH 65,000 75,000
114 Castle View Gilford Armagh BT63 6JS 70,000 85,000
12 Monroe Av Lurgan Armagh BT66 7BR 70,000 90,000
10 Oaktree Man Waringstown Armagh BT63 5TJ 80,000 110,000
122 Rogan Manor N’abbey Antrim BT36 4BB 90,000 110,000
13 Shima Walk Lurgan Armagh BT66 8NH 75,000 80,000
14 Oaktree Man Waringstown Armagh BT66 7PG 85,000 110,000
143 Avenue Road Lurgan Armagh BT66 7BH 75,000 90,000
16 Hamilton St Lurgan Armagh BT66 7DX 50,000 65,000
163 Avenue Rd Lurgan Armagh BT66 7BH 75,000 90,000
165 Avenue Rd Lurgan Armagh BT66 7BH 65,000 75,000
17 The Square T'ragee Armagh BT62 2AA 75,000 85,000
20 Oaktree Man Waringstown Armagh BT63 5TJ 80,000 110,000
24 Logan Dr Lurgan Armagh BT66 8DA 70,000 75,000
26 Logan Dr Lurgan Armagh BT66 8DA 70,000 75,000
29 Pollock Dr Lurgan Armagh BT66 8JN 70,000 75,000
29 Princeton Av Lurgan Armagh BT66 8LW 70,000 90,000
3 Glenavon Cres Lurgan Armagh BT66 8JR 70,000 80,000
6 Willowfield T'ragee Armagh BT62 2EJ 60,000 75,000
7 Oaktree Man Waringstown Armagh BT63 5TJ 75,000 90,000
7 Hamilton St Lurgan Armagh BT66 7DX 50,000 70,000
8 Oaktree Man Waringstown Armagh BT66 7PG 80,000 110,000
Apt 4 Windsor Ave P'down Armagh BT63 5DB To Follow To Follow
Further information on the lots up for auction tonight in Mallusk can be found here http://www.wilsonsauctions.com/property_mallusk.asp
These are the repossession properties. I managed to get my hands on the reserve values (cunning!) so you know what the properties must achieve as a minimum. It is very handy knowing this as stuff won't sell for less.
All properties are currently rented out with tenants so there's clearly a lot of BTL'ers in trouble out there in the big bad world.
You'll also note that there's a large no of properties in Armagh here (Lurgan and Waringstown especially). Oaktree Manor, Avenue Road, and Logan Drive all come in for special attention.
Anyhow the data is as follows:
ADD 1 ADD 2 COUNTY P'CODE RESERVE (£) WILSONS GUIDE (£)
102 Avenue Rd Lurgan Armagh BT66 7BH 75,000 90,000
112 Union St Lurgan Armagh BT66 8ED 65,000 80,000
114 Avenue Rd Lurgan Armagh BT66 7BH 65,000 75,000
114 Castle View Gilford Armagh BT63 6JS 70,000 85,000
12 Monroe Av Lurgan Armagh BT66 7BR 70,000 90,000
10 Oaktree Man Waringstown Armagh BT63 5TJ 80,000 110,000
122 Rogan Manor N’abbey Antrim BT36 4BB 90,000 110,000
13 Shima Walk Lurgan Armagh BT66 8NH 75,000 80,000
14 Oaktree Man Waringstown Armagh BT66 7PG 85,000 110,000
143 Avenue Road Lurgan Armagh BT66 7BH 75,000 90,000
16 Hamilton St Lurgan Armagh BT66 7DX 50,000 65,000
163 Avenue Rd Lurgan Armagh BT66 7BH 75,000 90,000
165 Avenue Rd Lurgan Armagh BT66 7BH 65,000 75,000
17 The Square T'ragee Armagh BT62 2AA 75,000 85,000
20 Oaktree Man Waringstown Armagh BT63 5TJ 80,000 110,000
24 Logan Dr Lurgan Armagh BT66 8DA 70,000 75,000
26 Logan Dr Lurgan Armagh BT66 8DA 70,000 75,000
29 Pollock Dr Lurgan Armagh BT66 8JN 70,000 75,000
29 Princeton Av Lurgan Armagh BT66 8LW 70,000 90,000
3 Glenavon Cres Lurgan Armagh BT66 8JR 70,000 80,000
6 Willowfield T'ragee Armagh BT62 2EJ 60,000 75,000
7 Oaktree Man Waringstown Armagh BT63 5TJ 75,000 90,000
7 Hamilton St Lurgan Armagh BT66 7DX 50,000 70,000
8 Oaktree Man Waringstown Armagh BT66 7PG 80,000 110,000
Apt 4 Windsor Ave P'down Armagh BT63 5DB To Follow To Follow
Further information on the lots up for auction tonight in Mallusk can be found here http://www.wilsonsauctions.com/property_mallusk.asp
Many thanks for all your hard work Paul - we really do have a great bunch of posters on this thread.
Thanks Paul
Some currently-low reserves there. Some of them aren't much higher than the rateable values.
QUOTE (pod @ Mar 27 2008, 09:55 AM)
Thanks Paul
Some currently-low reserves there. Some of them aren't much higher than the rateable values.
Some currently-low reserves there. Some of them aren't much higher than the rateable values.
As the saying goes - desperate times call for desperate measures.
AFAIK in most cases the reserve is calculated by subtracting the mortgage balance already paid off on the property from the valuation of the property for settlement purposes. That then gives the figure (reserve) that the property must achieve in order for the bank/building society to have their pound of flesh. Hence this may skew the data and make it appear that the properties are only valued at capital rateable value when that is in actual fact not the case at all.
Some BTL'ers are getting seriously burned here tho'.
That being said there are certainly quite a few bargains out there if these 26 properties go for slightly above their reserves.
QUOTE (doccyboy @ Mar 27 2008, 09:34 AM)
Many thanks for all your hard work Paul - we really do have a great bunch of posters on this thread.
Cheers doccyboy - and thanks pod or starting this thread by the way! Are either of you able to make it to Mallusk tonight?
QUOTE (paul65 @ Mar 27 2008, 10:21 AM)
Cheers doccyboy - and thanks pod or starting this thread by the way! Are either of you able to make it to Mallusk tonight?
Sorry can't make it tonight.
Thanks for all your work paul.
Do Wilsons auction properties from all over NI? Or do they only show properties from certain towns?
BTW I prefered your old avatar
Do Wilsons auction properties from all over NI? Or do they only show properties from certain towns?
BTW I prefered your old avatar
QUOTE (paul65 @ Mar 27 2008, 08:35 AM)
Pod et al,
These are the repossession properties. I managed to get my hands on the reserve values (cunning!) so you know what the properties must achieve as a minimum. It is very handy knowing this as stuff won't sell for less.
All properties are currently rented out with tenants so there's clearly a lot of BTL'ers in trouble out there in the big bad world.
You'll also note that there's a large no of properties in Armagh here (Lurgan and Waringstown especially). Oaktree Manor, Avenue Road, and Logan Drive all come in for special attention.
Anyhow the data is as follows:
ADD 1 ADD 2 COUNTY P'CODE RESERVE (£) WILSONS GUIDE (£)
102 Avenue Rd Lurgan Armagh BT66 7BH 75,000 90,000
112 Union St Lurgan Armagh BT66 8ED 65,000 80,000
114 Avenue Rd Lurgan Armagh BT66 7BH 65,000 75,000
114 Castle View Gilford Armagh BT63 6JS 70,000 85,000
12 Monroe Av Lurgan Armagh BT66 7BR 70,000 90,000
10 Oaktree Man Waringstown Armagh BT63 5TJ 80,000 110,000
122 Rogan Manor N’abbey Antrim BT36 4BB 90,000 110,000
13 Shima Walk Lurgan Armagh BT66 8NH 75,000 80,000
14 Oaktree Man Waringstown Armagh BT66 7PG 85,000 110,000
143 Avenue Road Lurgan Armagh BT66 7BH 75,000 90,000
16 Hamilton St Lurgan Armagh BT66 7DX 50,000 65,000
163 Avenue Rd Lurgan Armagh BT66 7BH 75,000 90,000
165 Avenue Rd Lurgan Armagh BT66 7BH 65,000 75,000
17 The Square T'ragee Armagh BT62 2AA 75,000 85,000
20 Oaktree Man Waringstown Armagh BT63 5TJ 80,000 110,000
24 Logan Dr Lurgan Armagh BT66 8DA 70,000 75,000
26 Logan Dr Lurgan Armagh BT66 8DA 70,000 75,000
29 Pollock Dr Lurgan Armagh BT66 8JN 70,000 75,000
29 Princeton Av Lurgan Armagh BT66 8LW 70,000 90,000
3 Glenavon Cres Lurgan Armagh BT66 8JR 70,000 80,000
6 Willowfield T'ragee Armagh BT62 2EJ 60,000 75,000
7 Oaktree Man Waringstown Armagh BT63 5TJ 75,000 90,000
7 Hamilton St Lurgan Armagh BT66 7DX 50,000 70,000
8 Oaktree Man Waringstown Armagh BT66 7PG 80,000 110,000
Apt 4 Windsor Ave P'down Armagh BT63 5DB To Follow To Follow
Further information on the lots up for auction tonight in Mallusk can be found here http://www.wilsonsauctions.com/property_mallusk.asp
These are the repossession properties. I managed to get my hands on the reserve values (cunning!) so you know what the properties must achieve as a minimum. It is very handy knowing this as stuff won't sell for less.
All properties are currently rented out with tenants so there's clearly a lot of BTL'ers in trouble out there in the big bad world.
You'll also note that there's a large no of properties in Armagh here (Lurgan and Waringstown especially). Oaktree Manor, Avenue Road, and Logan Drive all come in for special attention.
Anyhow the data is as follows:
ADD 1 ADD 2 COUNTY P'CODE RESERVE (£) WILSONS GUIDE (£)
102 Avenue Rd Lurgan Armagh BT66 7BH 75,000 90,000
112 Union St Lurgan Armagh BT66 8ED 65,000 80,000
114 Avenue Rd Lurgan Armagh BT66 7BH 65,000 75,000
114 Castle View Gilford Armagh BT63 6JS 70,000 85,000
12 Monroe Av Lurgan Armagh BT66 7BR 70,000 90,000
10 Oaktree Man Waringstown Armagh BT63 5TJ 80,000 110,000
122 Rogan Manor N’abbey Antrim BT36 4BB 90,000 110,000
13 Shima Walk Lurgan Armagh BT66 8NH 75,000 80,000
14 Oaktree Man Waringstown Armagh BT66 7PG 85,000 110,000
143 Avenue Road Lurgan Armagh BT66 7BH 75,000 90,000
16 Hamilton St Lurgan Armagh BT66 7DX 50,000 65,000
163 Avenue Rd Lurgan Armagh BT66 7BH 75,000 90,000
165 Avenue Rd Lurgan Armagh BT66 7BH 65,000 75,000
17 The Square T'ragee Armagh BT62 2AA 75,000 85,000
20 Oaktree Man Waringstown Armagh BT63 5TJ 80,000 110,000
24 Logan Dr Lurgan Armagh BT66 8DA 70,000 75,000
26 Logan Dr Lurgan Armagh BT66 8DA 70,000 75,000
29 Pollock Dr Lurgan Armagh BT66 8JN 70,000 75,000
29 Princeton Av Lurgan Armagh BT66 8LW 70,000 90,000
3 Glenavon Cres Lurgan Armagh BT66 8JR 70,000 80,000
6 Willowfield T'ragee Armagh BT62 2EJ 60,000 75,000
7 Oaktree Man Waringstown Armagh BT63 5TJ 75,000 90,000
7 Hamilton St Lurgan Armagh BT66 7DX 50,000 70,000
8 Oaktree Man Waringstown Armagh BT66 7PG 80,000 110,000
Apt 4 Windsor Ave P'down Armagh BT63 5DB To Follow To Follow
Further information on the lots up for auction tonight in Mallusk can be found here http://www.wilsonsauctions.com/property_mallusk.asp
Incidentally the 3 most common mortgage providers for these properties above in order are:
Capital Home Loans - part of Irish Life and Permanent PLC. Standard & Poor's Ratings Services have a negative outlook on Irish Life & Permanent PLC Reference available here and here
Birmingham Midshires - owned by HBOS Reference available here
Mortgage Trust - owned by Paragon (Paragon, the UK's third biggest buy-to-let lender, has been forced to raise £287m from shareholders to keep its business going because banks have been reluctant to lend it any more money). Reference available here
I'll let you all draw your own conclusions from this.
I dont think these are normal Repos ,assets recovery specials in my eyes, and nearly whole streets and culldacs been sold off in various auctions over last month.
Solictor is the same as those who deals with assets recovery property and loads sold in england yesterday from same areas!
Collecting rent from an area previously owned by a drug baron could be fun, as could asking them to leave!
The house numbers sold at auctions tonight and in recent days are
from oakridge:-
2,4,7,8,14,16,20
and Rogan Manor
122,128,130
Solictor is the same as those who deals with assets recovery property and loads sold in england yesterday from same areas!
Collecting rent from an area previously owned by a drug baron could be fun, as could asking them to leave!
The house numbers sold at auctions tonight and in recent days are
from oakridge:-
2,4,7,8,14,16,20
and Rogan Manor
122,128,130
QUOTE (trebor21 @ Mar 27 2008, 11:16 AM)
I dont think these are normal Repos ,assets recovery specials in my eyes, and nearly whole streets and culldacs been sold off in various auctions over last month.
Solictor is the same as those who deals with assets recovery property and loads sold in england yesterday from same areas!
Collecting rent from an area previously owned by a drug baron!
Solictor is the same as those who deals with assets recovery property and loads sold in england yesterday from same areas!
Collecting rent from an area previously owned by a drug baron!
Welcome to the site trebor21.
Thanks for the warnings. I guess people really need to do their research on the history of a property and the area, before buying at auction.
My research has shown me that the same proceedures are needed as buying from an estate agent i.e. get a solicitor to do checks on the house you are interested in buying. Though if you are then out-bid you will obviously have wasted money on fees. But better to be safe than sorry.
Cheers Belfast boy actually been browsing the site for around 6 months now!
Some of the houses are in good areas, and actually nice houses to live in!
But you could be buying a whole heap of trouble espically with so many coming from assets recovery in close proximity!
To buy in auction you do all the same checks, but as you say before you buy. Also you need to have all the funds in place withing 28 days, most banks wont gurantee they can arrange this within the time period.
You also need 10% there and then if you purchase.
If you dont have 100k spare then you need the process rolling well in advance. If you can have the banks value the house before the auction and some of the legal groundwork done then you hopefully will get a mortgage in time. If not you will loose 10k plus risk being sued! The problem is if you are outbid then you will loose near a 1k on fees to solictiors and banks!
Some of the houses are in good areas, and actually nice houses to live in!
But you could be buying a whole heap of trouble espically with so many coming from assets recovery in close proximity!
To buy in auction you do all the same checks, but as you say before you buy. Also you need to have all the funds in place withing 28 days, most banks wont gurantee they can arrange this within the time period.
You also need 10% there and then if you purchase.
If you dont have 100k spare then you need the process rolling well in advance. If you can have the banks value the house before the auction and some of the legal groundwork done then you hopefully will get a mortgage in time. If not you will loose 10k plus risk being sued! The problem is if you are outbid then you will loose near a 1k on fees to solictiors and banks!
QUOTE (trebor21 @ Mar 27 2008, 11:16 AM)
I dont think these are normal Repos ,assets recovery specials in my eyes, and nearly whole streets and culldacs been sold off in various auctions over last month.
Solictor is the same as those who deals with assets recovery property and loads sold in england yesterday from same areas!
Collecting rent from an area previously owned by a drug baron could be fun, as could asking them to leave!
The house numbers sold at auctions tonight and in recent days are
from oakridge:-
2,4,7,8,14,16,20
and Rogan Manor
122,128,130
Solictor is the same as those who deals with assets recovery property and loads sold in england yesterday from same areas!
Collecting rent from an area previously owned by a drug baron could be fun, as could asking them to leave!
The house numbers sold at auctions tonight and in recent days are
from oakridge:-
2,4,7,8,14,16,20
and Rogan Manor
122,128,130
You are spot on trebor21 - and welcome to the NI forum. Your 6 months of reading and lurking has served as an excellent apprenticeship. I would say you are something of a detective to sniff out these ARA properties so quickly.
The properties tonight are not normal repos - they are definitely ARA as they are dealt with by Cleaver Fulton Rankin solicitors.
As you rightly point out collecting rent / asking tenants to leave could prove tricky!
QUOTE (paul65 @ Mar 27 2008, 12:18 PM)
You are spot on trebor21 - and welcome to the NI forum. Your 6 months of reading and lurking has served as an excellent apprenticeship. I would say you are something of a detective to sniff out these ARA properties so quickly.
The properties tonight are not normal repos - they are definitely ARA as they are dealt with by Cleaver Fulton Rankin solicitors.
As you rightly point out collecting rent / asking tenants to leave could prove tricky!
The properties tonight are not normal repos - they are definitely ARA as they are dealt with by Cleaver Fulton Rankin solicitors.
As you rightly point out collecting rent / asking tenants to leave could prove tricky!
Wilsons auction site is compete rubbish compared to Allsops! It tells you very little about the propertys!
Well now you did sniff out the reserves so not the only detective!
Its alarming to think these guys have bought so many propertys in new developements over the past years!
QUOTE (Belfast Boy @ Mar 27 2008, 10:53 AM)
Thanks for all your work paul.
Do Wilsons auction properties from all over NI? Or do they only show properties from certain towns?
BTW I prefered your old avatar
Do Wilsons auction properties from all over NI? Or do they only show properties from certain towns?
BTW I prefered your old avatar
No problem BB.
AFAIK Wilson's themselves decide what property lots go into each auction. I'm sure location has a part to play although the influence of vendors, ARA, banks and other financial institutions no doubt play a role too. Lurgan, N'Abbey and Waringstown have cropped up this time as they are all ARA propertites (allegedly! - to cover my a$$).
Sorry you miss my old avatar - I need to keep changing appearances to keep the authorities on their toes. Hope you understand.
QUOTE (trebor21 @ Mar 27 2008, 12:24 PM)
Its alarming to think these guys have bought so many propertys in new developements over the past years!
Yeah - imagine what this kind of PR could do if unknown to you you just happened to live in the same development as a load of ARA seized properties. It would almost certainly send the value of your property downwards if you were trying to legitimately sell right now. Almost a form of property cancer.
I genuinely feel sorry for anyone in this kind of a scenario right now.
These are mostly all nice new builds in new developments and that is a very scary thought.
QUOTE (paul65 @ Mar 27 2008, 12:56 PM)
Yeah - imagine what this kind of PR could do if unknown to you you just happened to live in the same development as a load of ARA seized properties. It would almost certainly send the value of your property downwards if you were trying to illegitimately sell right now. Almost a form of property cancer.
I genuinely feel sorry for anyone in this kind of a scenario right now.
These are mostly all nice new builds in new developments and that is a very scary thought.
I genuinely feel sorry for anyone in this kind of a scenario right now.
These are mostly all nice new builds in new developments and that is a very scary thought.
Does makes you wonder how much organized crime drove up property prices in Northern Ireland?
... and Sogy wants me to appear on TV talking about this. No chance!
LoL, Actually viewed a property in rogan Manor last month, Girlfired wanted to have a nosey they only wanted £190k!!! and that was reduced from £210 i think! Fantasy land prices on both prices!
End terrace no Drive or Garage! But lovely inside, I Rember it had BackGarden, Living room. kitchen diner, one box room, 2 medium sized bedrooms, a few closets, and a massive bathroom which had a bath and a shower!
Not sure what the auction ones are like but i would assume similar! So the auction price is tempting at 110k-120k but trying to get bank finances put together in 28 days in current market could be difficult!
Then you would have to bribe the tennants to leave quietly without wrecking the place!
End terrace no Drive or Garage! But lovely inside, I Rember it had BackGarden, Living room. kitchen diner, one box room, 2 medium sized bedrooms, a few closets, and a massive bathroom which had a bath and a shower!
Not sure what the auction ones are like but i would assume similar! So the auction price is tempting at 110k-120k but trying to get bank finances put together in 28 days in current market could be difficult!
Then you would have to bribe the tennants to leave quietly without wrecking the place!
QUOTE (Belfast Boy @ Mar 27 2008, 01:44 PM)
... and Sogy wants me to appear on TV talking about this. No chance!
Not any more - the talking heads are doing this job already! As if they have listened to you
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.