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bearorbullsowhat

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About bearorbullsowhat

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  1. Ahhh...that should ease the unemployment figures...
  2. And i suppose the sheep industry workers from Wales bounce to work wearing bright clothes singing Shirley Bassey???
  3. Return of the Bull: The time is approaching to add to my small portfolio of BTL properties... For the last 2 years the BTL sums have not added up...IR's have moved too high...properties prices have been too high and rents too flat... Around my local area (East Herts) we have seen some nice steady falls in asking prices and more and more sellers panicking and accepting lower and lower offers which are driving the market down nicely... I predict in 6-9 months time I should be able to pinch a nice 2 bed flat near a main line station (london liv street in 20 mins) for around the £125,000 mark (similar properties peaked at £200,000 last august) In my opinion IR's will have dropped by .5% as the BOE give up on keeping a lid on inflation and try and pull us out of recession...have just put up the rent on a similar property i own to £800 pm so to service the new mortgage (£550 roughly) will leave me with a nice £250-ish yield) Will try and lock this fixed deal in for as long as possible as IR's in the long run will be on the firm side... The time is almost upon us for the return of the long term property Bull...make sure you dont miss the stampede...
  4. For the last 2 years the BTL sums have not added up...IR's have moved too high...properties prices have been too high and rents too flat... Around my local area (East Herts) we have seen some nice steady falls in asking prices and more and more sellers panicking and accepting lower and lower offers which are driving the market down nicely... I predict in 6-9 months time I should be able to pinch a nice 2 bed flat near a main line station (london liv street in 20 mins) for around the £125,000 mark (similar properties peaked at £200,000 last august) In my opinion IR's will have dropped by .5% as the BOE give up on keeping a lid on inflation and try and pull us out of recession...have just put up the rent on a similar property i own to £800 pm so to service the new mortgage (£550 roughly) will leave me with a nice £250-ish yield) Will try and lock this fixed deal in for as long as possible as IR's in the long run will be on the firm side... The time is almost upon us for the return of the long term property Bull...make sure you dont miss the stampede...
  5. WOW! i am shocked you got this post displayed! perhaps it is because you used the word 'we' ...All my posts that dont predict doom and gloom dont even make it! Congrats!
  6. I know several bankers/stockbrokers/shipbrokers....even recruitment consultants, estate agents, mortgage brokers...with lots of cash/investments accumulated over the last 4-8 years boom economy...some on the verge of retirement in their 30s! Several have their cash tied up in property and have no plans to sell... Has this personal wealth been overlooked and not factored in to the potential housing market 'crash'? Discuss...
  7. If 'divorces will increase' - will this not increase demand for rentals?
  8. FYI, im looking to re-market my 2 bed flat in the East Herts region and cannot believe (1) how little competition I am seeing and (2) how much similar 'let agreed' propertys are fetching! 2 years back there were roughly 10-15 similar propertys up for rent on the market with rental range between 675-750 now there are 3 propertys (2 with rent agreed) going for between 875-900! So I will be marketing my 2 bed flat for £900 (previosly was at 750)
  9. Each to their own...I believe that the house price 'crash' will not be as catastrophic as some believe on this forum...banks will be bailed out (as is happening already) and in 6-12 months time healthy competition will return to the mortgage market again and prices will remain flat and maybe begin rising again (albeit at a much slower rate) Also cannot overlook natural inflation (on asset Vs. initial cash investment) Just take a look at property prices after the last big crash and even prices from 10 years ago and then compare them to today’s levels. Savings will be taxed...investment in property allows you to offset interest against tax whilst holding an appreciating (long term) asset
  10. Hey, im a Bear (a moderate one!) I agree that the property market is in reverse and there are hard times ahead...but for a long term investment (with the correct provisions in place) there is no reason why you cant make a reasonable return on property. (yes, even taking into account the 50% doomsday predictions that some are making on here!)
  11. Understood and thanks for the advice but there are ways and means!
  12. Paid 156 at end of 2005, put down 30...yep rate is circa 5.5...flat is within 5 mins walk of cheshunt station, herts...could have got 200 at last years peak...realistic price now would be circa 180-185 Admittedly there is probably hordes of BTL investors that have jumped on the bandwagon over the last year or 2...there are many that will get their fingers burnt...but there are also many more that have made provisions and have done the maths and will be in a position to ride the storm...of course anyone looking to re-fix over the next 3-6 months will be in trouble and will have to either sell at a loss or fund the difference between the rent and the variable with their own funds. There are many BTL investors out there who can and will get through this crisis.
  13. You are spot on mate....if i had a 100% mortgage...i put down 20% so prices would need to drop over 40% from last years high for me to go into NE which is very unlikely in the area I have bought in...however if this predicted HPC doomsday event materialises I have a bit put aside to bail me out. In 15-20 years time I will be up.
  14. There is a common legal loophole. If you re-register at the address for 6 months or more you trigger another 3 year window in which you can sell exempt from tax.
  15. As a BTL investor with one property (decided to keep my first 2 bed bachelor pad) I can offer some insight into how us (evil?) BTL investors might react to the current 'crisis' I have made circa 20% on my property over the past few years. It is in a desirable area, near a station that runs services into central London (20 mins) My tenants have served their notice and I have been inundated with offers from potential tenants including several of my friends who are 'waiting for the market to soften' before they buy. In October I fixed my mortgage onto a 3 year deal which my current rent (750pm) covers. I accept that there is a real possibility that my property will devalue significantly over the next 1-2 years but I am in this for the long run and will ride the storm for the following reasons: (1) No point putting my place on the market...it wont sell while sentiment is this low (2) There has been an increase in demand and an upward pressure on rental values (should be able to get 800-825 now) FYI...I have my bonus sitting in a high interest account and will be entering the BTL market later this year to acquire another property (with at least 15% deposit and an A+ credit rating you will not have any problem getting a decent BTL mortgage once the dust has settled) There will be no easy money to be made from short term property investment (im looking 15-20 years) If you do your homework and invest in an area where rental demand will remain high and your not too concerned with short-mid term price fluctuations, then in my opinion property is a safe investment (2% pa growth ('official' inflation target) on £200,000 for 20 years will get you circa £100,000 profit...not bad using someone else’s money and using a tenant to service the interest - not to mention tax free) Thats my opinion on the matter...i could be wrong and end up with egg on my face and lose my money...but its a risk im willing to take!
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