Negative Equity

[Astro]

Hello,

We bought our house nearly 2 years ago and were shocked to discover over the weekend that the developer recently dropped the price by 25K !!:mad:

As a result, the rest of the houses in Kilcock have nearly been sold out.....(best time for buying etc, etc, etc..)

We're really happy with the location/development and will be staying for at least 10/15 years so not bothered 2 much...

Just wondering if anyone else out there been burnt ?!

Cheers,
Astro

 

[bugler]

I don't really see what the problem is here. House prices fluctuate. There are a lot of people who bought over the past couple of years and they are most likely in negative equity. It's hardly an unprecedented phenomena.

If you like the house, and are happy there, then don't dwell on the money side.

 

[Astro]

Thanks Just a bit shocked that's all...It looks like there's a bit of a frenzy going on at the moment with people queuing overnight, was wondering why there were so many people out looking in our estate.....

Here's an interesting article...

[broken link removed]

 

[wirelessdude]

no issue if your not planning on leaving in the next year or two. prices go up and down. that's life. i bought in maynooth last sept and i'm sure it's gone down a little but seeing as im not seeling anytime soon then i won't be worrying about it

 

[Calico]

Thanks Just a bit shocked that's all...It looks like there's a bit of a frenzy going on at the moment with people queuing overnight, was wondering why there were so many people out looking in our estate.....

Here's an interesting article...

[broken link removed]

Start of a dead cat bounce maybe?