Given Up
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Posts posted by Given Up
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You could use CFD's and spreadbets and trade on margin but it is incredibly risky and I wouldn't advise anyone to do that.
You need to check that you can offset your income against the interest payments or you could end up out of pocket.
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Wasn't the rise in the 4th quarter of 1988 due to a rush to get a property before double mortgage relief ended?
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I thought most flats were leasehold.
150 years sounds OK. We bought one with a 60 year lease once and it was more difficiult to sell after 4 years.
Regarding the freeholder, they vary so much. We had one who owned some of the flats in the block as well as the freehold on the block of 60 flats. They were a nightmare with charging excess works which invariably included doing up their own flats.
Local authorities can be OK you just need to make sure that your surveys and searches pick up any work likely to be done in the future. If you live in the property (ratehr than rent it out) they sometimes let you spread the costs over a number years.
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I prefer primelocation as it has all the land registry info to hand. Apparently however, it is only the 4th largest according to one of the EA's we interviewed - but they weren't on it!
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Which EA was it out of interest?
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I don't think there is such a word as egomanical - do you mean egomaniacal?
Even so - name calling does not really add anything to the discussion and makes the person doing the name calling look ridiculous.
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True, but with the markets you have liquidity, if you want to realise your gains or dump something you can do so very quickly, how does that compare to waiting for weeks to sell a property in a falling market? You also have divisibility, if 1% of your portfolio goes sour then it's unlikely to affect you a great deal, a 100% stake in a failing property is rather obvious and painful.
I'm sorry but I disagree. If you are talking about gearing in the stock market you ned to use something like spreadbets or CFD's and when the market starts to fall away it can be difficult to close at the price you want. Short term blips like 911 or the bombings in London were classic.
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The problem with gearing on shares is that if you use CFD's or something similar then if the market moves against you in the short term (a temporary blip) you get a margin call and have to pay. If you have the same effect with a house you can wait for the market to recover as long as you are able to make the mortgage payments as I don't think banks will call in a loan unless it is not being serviced.
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The STR investment only seems to make sense if you have paid off your mortgage otherwise you only have a proportion to invest.
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A good question to ask an EA is "how many properties do you own?"
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The road looks as if it runs parallell to a very busy road. It could be that it is very noisy? That would not be obvious from the details but would be when you actually visit.
Also it doesn't say how big the garden is. Maybe the garden is small?
The nethouseprices vary enormously so it would seem it is quite important where you are on the road.
It does look as if boils down to asking price possibly too high. He might be better to drop it and get 2 people competing.
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If 70 people have viewed (over what timescale?) then there is no problem getting people in to see the property based on the details so the price must appear OK before they view. Once they view, they do not offer, so something is stopping them - something does not match the details as written - so it may be the price or it may be the area - maybe it is rough, maybe next door is shabby? there must be something that they do not like. The Agent should be able to provide feedback on every viewing.
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This needs a bit of clarification perhaps?
A valuation - what a qualified surveyor values a property at
Asking price - what an EA and vendor agree - sometimes called a valuation
Selling price - what the vendor and buyer agree is the value the buyer will pay and the seller will accept for the property
These are all different things.
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I said this on another thread but we were advised that if you hadn't had an offer after 6 weeks you should drop the price by 10%. Then repeat until sold.
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December figures are for completions and SIPPS completions wouldn't kick in untill after April.
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You will probably be more likely to get a good deal with a developer as they will only be trying to recover their costs. If a property sits empty they lose money.
Also, look for properties which are empty as someone has moved out. Also look for properties which are either in superficiially bad condition or have horrible decor. Look for bathrooms which are any colour except white, places with tatty carpets, look at photographs which show "old fashioned decor" All these help because expectations are that to get top price your home should be perfect - that is what all the property programmes are showing.
If you get into a bidding situtation (the classic "we have another interested party") - pull out.
Good luck
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Quite a few people here correctly predicted that SIPPS would have little or no impact. Some Bulls thought it would have an effect on prices with completions after April. Maybe what has happened is that the people who were waiting for April have gone ahead a little earlier or maybe the people who thought prices would go up in April hurried their sales through before SIPPS was withdrawn. Who knows?
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It was very cold today.
Is turrets a special castle variation of tourettes?
[edit - I was replying to the post above the one above]
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Brit Gas came round today to sort out boiler and they were moaning alarmingly about the influx of Polish Plumbers. Maybe this is what has happened to supply.
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Can you generalise about "Most people here"? Not really as there are many different types including FTB's, STR's, EA's, OO's, BTL's and a few others. They all have different views and interests.
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Depressingly £2,500 band H
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I can see a bit of a drawback, no bedrooms or kitchen or lounge.
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We were told once by an EA that if you havn't had an offer after 6 weeks you should drop the price by 10% and repeat until you do get an offer.
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They vary enormously. We just had a house valued for sale and asked 4 agents round. The ones in the little green cars were wildly over optistic and very pushy. Also they charged the highest fee percentage and would not negotiate.
Email From Ea
in House prices and the economy
Posted
Wasn't a 3 bedder in SW18 was it?