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Potential FTB

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About Potential FTB

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  1. Over the past 4 weeks any new listing in North Somerset has increased in value by between 5 and 10%. The way it's happened has been fairly dramatic, i just can't beleive what i'm seeing. Houses that have been in chains, go off market, and then come back on at 5-10% higher. F**ks me off.
  2. I have recently seen the following scheme run by a leading property developer to attract buyers to a new property development: With our EasyBuy scheme own 100% of your home and pay only 75% of the purchase price now! on selected 2 bedroom apartmentsYou pay only 75% of the purchase price now Your home is 100% yours from day one - this is not shared ownership You pay no interest or rent on the outstanding 25% The deferred interest free amount is paid back as 25% of the property’s open market value at any time up to resale or within 10 years, whichever is sooner This scheme also benefits from legal and survey fees paid up to £1000* *using developers recommended IFA and solicitors The market valuation is established by the average of two independent surveys carried out by two independent chartered surveyors Just wondered what some of your thoughts were on it. The only problem i can see is when it comes to selling the property, but i may be being blind.
  3. "LONDON (AFX) - A proposal put forward by the FTSE Group to dump investment trusts from the All Share index is "inconsistent" and would rob it of exposure to some of the most dynamic market sectors, according to Jeremy Tigue, manager of the Foreign & Colonial Investment Trust." I have shares in an Investment trust, and was wondering, does anyone know what would happen to my shares if it was decided to dump investment trusts from the All Share index?
  4. My main consideration when buying a house, would be, can i afford the mortgage repayments, as well as bills, and also have some kind of life. For me, a 2 bed terrace would cost roughly £150k i have £30k deposit, my mortgage repayments would be around £680 a month (5 year repayment mortgage). After pension, bills, council tax, petrol and food, i feel that i would be left with very little left to actually enjoy life!
  5. It looks as though the seller has had the kitchen and possibly bathroom refitted. Chances are that the seller purchased the property at a reduced price (still over priced IMO).
  6. http://www.thisisbristol.com/displayNode.j...tentPK=14006874 First-time buyers desperate to get on the property ladder queued round the block to be first in line for an affordable starter home. Builders have yet to secure planning permission for the 106 new homes and workmen are not even close to beginning laying the foundations. Despite only having blueprints to look at, hundreds of hopeful buyers lined up as Redrow Homes unveiled plans for its new estate at Stoke Gifford. Prices start at £59,995 - almost half the cost of an average first-time property in the city. Deposits were put down on all 106 properties in less than an hour and a half, and there is a long waiting list of people standing by to fill in if prospective buyers drop out. At the moment, the homes only have outline planning permission as Redrow has only just submitted its application to South Gloucestershire Council's planning department. It wants to build 106 one and two-bed homes on the Old Colstonians Ground, near Bristol Parkway Station, which range in price from £59,995 to £119,995. The development comprises 50 single-storey one-bed properties, 28 two-storey one-bed homes and 28 two-bedroom two-storey homes. Redrow held an exhibition at Filton College to showcase its proposals and put its plans on view to the public. Cherise Leaver, aged 21, right, was among those who paid a £50 pre-registration fee to secure one of the homes. She lives with her parents in Bridgeyate and until now had little hope of buying a place of her own. Cherise, who works at South Gloucestershire Council as an administration support officer, said: "I queued up for more than two hours to get into the exhibition but there were 15 or 20 people ahead of me. "When the doors opened, everyone rushed in. "Now we've paid the £50 fee, we will be asked if we still want the property if Redrow gets planning permission." Cherise went for a two-bedroom, two-storey home, costing just under £110,000. She said: "This is the only chance I'll get to buy my own home because house prices are absolutely ridiculous and I just wouldn't be able to afford it." Civil engineer Richard Williams and his girlfriend, Hannah Webb, both 24, also put their names down for a £110,000 two-bedroomed home. They have been renting a one-bedroomed flat in Bradley Stoke for the past year and had researched the Redrow plan before going to the exhibition. Richard said: "We didn't think we would be able to buy our own place for a long time because the mortgage repayments would kill us." Richard said they had been told they could pull out of pre-registration at any time but if they wanted to continue and everything went to plan, they could be in their new home by early 2007. Rachael Baillie, sales director for Redrow Homes (south west), said: "It was unbelievable. Our open evening didn't start until 5pm but people began to queue at 9 in the morning. We opened the doors at 5pm and by 6.20pm we had taken a registration against every one of the plots. "It was supposed to be a chance for people to view our plans, find out about the Debut concept and for us to gauge the likely interest. Instead we had people practically fighting to buy the properties and had we been able to take reservations, we would have sold them all two times over." She said it clearly demonstrated the pent-up demand in the area for affordable first time buyers.
  7. Possibly the Telegraph? http://www.telegraph.co.uk/property/main.j...1/ixptop12.html Only 5% though.
  8. My latest findings from Nailsea, Backwell, Yatton and Clevedon are that the lower end properties (between 120k and 190k) are selling before they've even been advertised, or at least sold stc. These properties are mainly 2-3 bed semis or terrace houses. (These are the houses i'm interested in) Upper end properties 280k + are not selling as easy. I have also noticed a few chains breaking. I'm not sure what conclusions to draw from this. What i am wondering is will the availability of stock at the high end force prices to come down, and therefore force the prices of the lower end properties down too, or will the fact that the lower end properties are selling fairly quickly, keep their prices inflated??? I think Worle and WSM are in a slightly different position as there seems to be more property available than the other towns i've mentioned above. Any thoughts?
  9. I have been monitoring the prices of houses in North Somerset for the past 12 months. In particular, the houses aimed at First time buyers in Nailsea, Portishead and Yatton. I have noticed drops in prices for houses that are marketed above £300k, but anything below this seems to be pretty static. I'm thinking the reason for this could be the following: Shortage of suitable FTB properties Quality Schools Easy access to Bristol and the M4/M5 motorways Just wondered if there is anyone out there with knowledge of North Somerset, and what their thoughts are on the future of house prices in the area. Personally, i think a property aimed at a FTB will drop, but not by a significant amount.
  10. I was wondering, from those who might have experience of this, what sort of realistic discount you can negotiate on a new build? There are 2 reasons why i ask this: 1. Looking at ourproperty.co.uk, there appear to be what i would call rogue sale prices for property i.e. 70k on a property which would normally sell for £150k - £180k, at a development in Port Marine. 2. I was recently told by a surveyor that it was possible to negotiate discounts of 25 - 30% off a new build property if you agreed to sign a confidentiality agreement. Any ideas?
  11. I have noticed falls too for 1/2 bed flats, but in my opinion they are still far too pricey for what you actually get. If you venture out of Bristol into the villages of North Somerset i.e. Nailsea, Clevedon, Portishead, the falls are slow in coming. 5k off a 160k house is about as good as it gets Although you may get more if you shop around.
  12. From reading the posts, i get the impression that most of you expect the average house price to fall to 3.5 times the average salary. Personally i don't think this will happen. Is there any evidence to support this theory? from my point of view, i would love it if the average house price came down to 3.5 times the average salary.
  13. My plan is to wait until October to see how the market pans out. If it is still falling significantly, i will stay out until i feel i am getting value for money. If the market is levelling off, i will probably buy even if i don't think i am getting value for money. I any case, i am hoping that houses currently priced at £150k will be down to around £120k by the end of the year. Not sure what the chances of this are though.
  14. I have been browsing the forum for a while looking at arguments for and against a HPC. I have been looking at the housing market for the past 2/3 years hoping that i could save enough of a deposit so i could buy my own place, but as my deposit increased, so did house prices. I believe the next 6 months will give a good indication as to whether we are looking at a sharp fall, soft landing, stagnation or increase, and i am going to hold out until September/October until i decide whether to buy or not (I can't afford the prices to go racing away again) What do you guys think? PS - Prices in North Somerset are stagnant at the moment. Some of the houses in the £350,000 + bracket are dropping, but the houses at £140,000 - £180,000 are doing nothing.
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