geed

BTL must be starting to make sense now?

Don't get me wrong, I am in your camp and have been even before I joined. It can be done but as with all ventures/projects/investments there is risk. The reason why we are taking this approach is to create a buffer or safety net in a falling market. If you add real value, even if prices continue to slide, it means we will not have to panic or be stuck in a house that is worth less than what we paid for it. We have folk with the right skills within the family to enable to do a serious renovation /extension etc...It is not for the vast majority as it is a costly ball ache for most. Yes the general market is still sliding in terms of prices, but some sectors such as 3 bed family homes with a garden in good catchment areas are proving more resilient. It is amazing what mummy and daddy will do to ensure little Farquar fraternises with the 'right' kids at school, especially if they cannot afford private schooling which is amazingly common in Edinburgh. Sadly, the school catchment system in the UK has (is) played its role in house price inflation. Seriously, it is incredible but many young families we know will sacrifice/compromise many aspects of a home just because it is in the right area for schools. Now flats are a different matter....lots more supply

We are after a 'doer upper', we have family that can assist in that dep. so it makes sense for us. We are also very cagey about the market. It has been falling for some time. Hate to admit it but we only got our finances in order a month or so ago and that makes it right in the spring bounce. If I had of had more time we should have sorted this out late last year, I would hate to think I would participate in the the dreaded Ed spring bounce!!! We placed a bid on a house last week, a doer upper. 8 notes of interest ( whatever that means blo0dy weird scottish system ??), we bid 8 % over HP report, it went for 13% over according to our stealictor. Unique properties, especially doer uppers and those in desirable school catchment areas still make money (think about it, the most I can get on an instant access ISA is 1.3% or something, the stock market is looking very frothy - I personally have enough exposure there thank you - but someone with the right connections can still turn a property around pending planning and make a tidy sum even in a falling market within a year. If it is bought right and more important than anything when considering a family home, it is i the right catchment area for schools!!). We are looking at £200K- £250Kish. Cannot believe I am going to pay a 1/4 million squids for a school place feck! I hate this country...........

lot 121 Auction property, Costorphine way, guide £220K. incase link does not take you to the actual property go here home page 14 december sale Lot 121. geed

Comments like that will always come over as sexist but you are bang on the money in many cases. It still astounds me how many well educated (apparently) adults have little or no financial nonce....that is why to see a proper correction - and we have yet to do so not just in Edinburgh but in the UK as a whole - it will have to be forced upon the financially inept. No amount of scaremongering or re-education will change their ways. The 'plastering the cracks' approach in dealing with the economy will not do us any favours in the long run. Inflation will always come home and bite you on the @rse and the debt does not go away. Stalemates occur, stagnation occurs and the wheels grind to a halt. The politicians know this of course but if they can just make things reasonable for the time being (the duration of their term in office) they will not go down in history for being at the helm when the almightly crash, recession, depression (call it what you will) occurs. Remember we point the finger at Osbourne now, not Brown.

dances, set up a GB fan club....I'll be you first member

"It is a proper market in the sense that would-be buyers and would-be sellers are making decisions about what they're willing to buy for/sell for" They are not making the decisions anymore, the 'market' dictates the decision. I want a Ferrari but I cannot get credit to buy said Ferrari. I want a house but I cannot get credit to buy said house. You can't make desisions when you are dictated to. Roll on Interest rate hike please....next month I reckon or maybe April once the MPC see the VAT hike influence. A simple 0.25% increase will send sentiment spiralling down. Jubbly.

I agree GB (unfortunate initials) is the only journalist I have heard to suggest that "ehem....ugh.... is it just possible that house prices are just to high?? Or am I missing something?" Numpty in suit "don't call me a real estate agent I am a solicitor I'll have you know". You sell houses pea brain, or at least you used to, that makes you a slimey @rsed real estate agent irrespective of your qualifications. Unfortunately Jonathan Davis always loses his rag at the end. Facts not fury JD

on now. I think this program will miss the point slighty though given the summary. Seem to be grovelling on about no lending, can't sell, can't buy. Nothing to so woth the fact the house market is still chronically overpriced. Ona good point...the Doc sounds scrummy!

Engineering is a great occupation and sought after in many fields (what do you specialise in?). I have worked in Thailand and Australia as an Engineer earning just as much if not more money than I could have earned by staying in the UK. I managed to travel, have the best time of my life and save! Now that is what I call SENSIBLE. You are right to get some experience in a job under your belt though. Can't see house prices moving anywhere soon but down, nominal falls are exacerabated by rising inflation. Arguably it is a better time to travel than when i did it (mind you my travelling was over a period of 10 years with off and on semi permanent jobs). Houses were only ever going up when i was travelling and now compared to your earnings they are falling, so go and have a laugh, work overseas, get some more experience, see the world, meet some interesting folk (less materialistic and work obsessed people) save some dosh and when you come back, houses will be cheaper than when you left. You may never even come back......probably far more exciting than sitting on here waiting for the next espc quarterly data to come out *Forgot to add, I am also a spendthrift unless it is travel. Cheap car, cheap clothes but rich in adventure & experiences!

GO! buying a house will not be as pleasurable as spending a year travelling, see ing amazing sights and meeting amazing people. Once you have a mortgage and kids it will be difficult to get out of the debt cycle. Nothing worse than regrets! I would be off travelling again at the drop of a hat. My business is struggling over the last two months ( just a blip me hopes;-)) and the little ones are doing my nut in with the this dreary dark cold weather. Nothing like a good cold dark winter to focus ones goals in life. On the property front though. We are off to see a few mortgage folk over the next few weeks, just to suss it out. Best to know what your finances are just in case the right project turns up. I am in the mood for some hard bargaining. Guitar.....send us a postcode and make us all jealous

more auction results...this time in Pencaitland lot 64 Assured tenancy and no rent payable until Aug 2011, but at this price....

I listed these properties some time ago as ones to watch. They were auctioned by Allsop and must be a BTL portfolio gone wrong. Guide £150K.....made £150K, three bedroom 1st lot Guide £150K.... made £140K double ensuite bedrooms. 2nd lot The fact they only made guide or less is significant. These flats must be large considering the outside shot. Very close to the city centre also but I am not familiar with the area. What do you all think....

trust me, Bardon knows more than anyone, ever, so there. Dazzling lights come to mind

I have images of the great plane storage yards in the Arizona desert but a bit colder...and a bit greyer and maybe a but more Scottish.