yes and the 10 years before that the same was said.and 10 before that aswell lol

they may stop rising asa fast but cant see them dropping tbh.well maybe in the shitty areas but thats always been the case

 

Your logic doesnt seem to stack to advise people to 'buy, buy, buy'???

Repossesions rose by 65% in to 2006. the anaylsts are all stating that this is going to increase in 2007 & 2008,

We are still below the nineties repo rate, but then interest rates were nearly 16%. There has been a time lag issue occuring for such a long time period that people have been able to cope (difference between interest rates and house prices)

Sadly crunch time (might?) is coming and people are not able to simply sell up to pay of the mortage. Historically people made such a lot on their house prices that if they got into a credit crunch it wasnt a problem. This is starting to change as the house house prices slow.

People in sticky situations and trying to avoid bankrupcy etc will be offloading their houses and taking silly offers that you mention above. This is not a sustainable way to market and fix houses.

It is alos not the stable basis to buy houses on. You state above that the buy to let market if fooked. This is becasue the house prices have become unsustainable and smart investors are moving out of this market.

I would not be advising people to 'buy, buy, buy' as you put in your previous posts, unless i was looking for some quick commision to sell some houses.

I reckon the smart money is on waiting for the crash (if it happens) and then getting on the buy to let market at the bottom.

Just my two peneth.

 

i can cover my payments and run my house on just my salary
my wife also works
so does my brother
and so does my mum
and the old mans got a few quid too
so i can carry on paying my mortgage if the levels rise beyond an acceptable leve

what i can't see is how peole just buy a house thinking they will make money, if you HAD a house years anf years ago, the pric rises mean that the house you sell will be worth more yes, but so wil the house you will want to move to, thus cancelling everything out

but in my mates case, his folks bought a house back in 85 and the old house they put out to rent
when he bought his house a good 5 or 6 years ago he used the value of the other house to get a decent deposit
then, when it was clear that the other house was worth enough to get rid of it and pay the money off on his house he did that
then he bought another house and has put his original house out to rent and is paying the mortgage on that with the rent and his new house with his salary
the fact theya re next door to each other means he can keep an eye on things and if the need to sell ever comes along he can do so

but he would have been fucked if his folks hadn't moved all them 20 years ago in the first place

 

Exactly what I was thinking.

Stick to selling phones

 

Again, I'm interested to know what your experience in the property market is?

I hear / see plenty of people who "become" estate agents without knowing fuck all about the job itself

 

I cant even begin to argue with this sound logic...

 

What rot.

You seem to have forgotten, interest payable on the loan (the main one), deposit needed for the next mortgage, all the fees envolved in a new mortgage for your next property, your estate agent and legal fees for your new property, stamp duty on your new property (if worth more than 125K), home improvements on new property!!!

So all this in mind, would you drop 20K just to sell, or you would you stay where you are and wait for either the rates to drop or the house prices to increase?.

 

As someone above mentioned.

Phones selling might be more applicable...

 

seems everyone thinks they're an estate agent these days

 

Was the house Ł30K too much in the first place?

Good time to buy?... now where did I leave that De Lorean with the crystal ball on the passenger seat

 

Amen to that.

 

Talking of houses. I just got a new neighbour as it happens!

Not the cleverest girl in the world, but stunning in the flesh!



I know have a reason to diet!

 

i can only base what i think on the experiences i've had, and my experience says that prices were just going up and up and up all the time over the last good few years

but lately there has been talk of sales struggling to make the asking prices, houses on the market for ages, a general down turn in the amount of first time buyers, the buy to let market stagnating, lots of people remortgaging their proerties to get "equity" out of them and a general feeling that soemthings going to happen at some point but no one knows so no one gives a fuck

intrest rate rises mean that those who were on the limit are getting squeezed which means some people are picking up bargains, and i think these "bargains" are then turning a healthy profit for the peole who scandaled them in the first place

but what do i know eh

 

who's she then?
even the name of the pic doesn't reveal any resluts

 

Lee... you can always kid her on that you really are Dane Bowers and TV always makes people look slimmer.. it will take her years to suss that you arent really him

 

Rich I think you will find that isnt actually the case.

In East Anglia prices rose in the early part of the year but have actually dropped to below where they were at the start of the year.

Its on the way down....


My neighbour has had her 2 bed house on the market now for nearly 9 months, its the cheapest house in the village at Ł165,000 nice area, good schools catchment and she cant sell it.

You only have to watch Rightmove.co.uk for your own area over a period of time and you will see the same houses on there for months and months, the only ones that are selling are ones agents have undervalued to get them shifted or vendors have dropped their pants because they need to move.


I suspect there are bargains to be had if you shop around and take flyers with low bids.... they can only say no.


And lets face it, you go and look at a Cossie thats up for Ł4750, you want that car for Ł4000 and most people wouldnt think twice about that kind of bid

Which is nearly 20% off the asking price.

So why do people only think they can chip a house price by 1 and 2%

????

 

I cant afford anything in London. Still at home with my parents at the mo. A flat above a chippy is 100k at least.

Looks like I'll be here forever

 

I couldn't agree less. If it's doing anything, it may be slowing in some areas, but I haven't seen a slow down round here in 15 years.

I haven't seen property prices in East Anglia for a couple of years, but when I was living there, I kept a close eye as I was looking to buy, and prices have been steady.... although it isn't simply down to general market trend. Norwich for example has benefited from greater access by road and rail (not sure if that's a good thing! ), influx of jobs due to the new hospital, city modernisation, huge investment etc - all cumulative...

As for NW postcodes in London, we've got a couple of BTLs, and whilst they're no huge earner, the equity is there. 3 years ago, when we bought the first one, people said "it's going to crash, slow etc". 25% value capital appreciation later......

A lot of my mates are estate agents (own their own businesses) and they simply can't get enough properties to sell. New blocks of flats are springing up round here almost monthly, and are now able to command 250k for 2 bed flats easily!

 

Cant argue with the BBC Ponster.....

'House prices are continuing to turn down, says the Royal Institution of Chartered Surveyors (Rics).

Its latest survey says UK house prices in September generally fell again, with more of its members reporting a fall in prices locally than an increase.

It said enquiries from new buyers had fallen for the 10th month in a row. '

http://news.bbc.co.uk/1/hi/business/7037962.stm

 

Move to Newham....


Although being above a chippy is well handy....