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Plymouth And 10 Miles West Of Plymouth

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Noticed over the winter there have been plenty of kite-flying houses on the market.

Now that spring has come suddenly there are lots of almost reasonably priced property coming to market, majority of these seem to be where oldies have died. Hopefully the sellers will be willing to accept low offers as otherwise i'm happy to wait up to another three years.

Having spoken to an estate agent they sounded quite shocked that i was ringing for a viewing not for renting. As my phone signal dropped (during the call) i got 5 missed calls that same day and two voice messages, followed the next day by another 5 missed calls and three voice messages. They seemed pretty desperate.

Im very much in two minds, as the market is clearly starting to drop again after a brief up-tick after the HTB prop in January 2014, it does seem that they will continue to drop over the next two years (before ramping starts for the next election)

but at the same time, its better to buy something good at fair value than something bad at good value. (think buffet said that)

think i may make a cheeky low offer, and if that doesn't work out, wait this situation out for a few years. At the moment reasonable properties are slowly grinding down and starting to reach 3 times my income, however they must still be 6-7 times the average local income. Yields of property if rented (trying to gauge value) is around 5.5% (without bills etc) but i cant see why this cant reach 8% (via price drops) as with other parts of the country.

Think in my heart of hearts i cant bear to be part of this pyramid scheme for a while yet.

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