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When To Sell? Why To Buy?

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Guest Winners and Losers

Considering the current state of affairs, when do people think the right time to sell was/is in the current market?

Also, a question for the bulls, please convince me why NOW is a good time to buy?

Thanks

Edited by Winners and Losers

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Considering the current state of affairs, when do people think the right time to sell was/is in the current market?

Also, a question for the bulls, please convince me why NOW is a good time to buy?

Thanks

I would say selling in North London would have been a good idea in MARCH 2005...the 'spring bounce!' ;)

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I'm buying now. On very conservative borrowing.

NOT because I'm a bull and think it's a good time to buy but because I need a home and I can't convince myself there are enough reasons not to buy.

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I'm buying now. On very conservative borrowing.

NOT because I'm a bull and think it's a good time to buy but because I need a home and I can't convince myself there are enough reasons not to buy.

Agreed Steve. I`m not going to sit around at home for another 10 years waiting for something that may never happen. oop in the Northwest (Warrington) I can get a modest terrace for 84k so its not that bad with a deposit of 20k is it?

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Agreed Steve. I`m not going to sit around at home for another 10 years waiting for something that may never happen. oop in the Northwest (Warrington) I can get a modest terrace for 84k so its not that bad with a deposit of 20k is it?

A family home where I live is 400K MINIMUM. I have 300K STR fund. It's worth the wait as I live comfortably off the interest...

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I have been on this site for over three years, and those that know me will identify me as a Bull.

Never one to follow the crowd, and come to my own conclusions I have for the past three years been correct. "There has not been a property crash despite listening to people at work and on this site saying "Its here Its here" and then property goes up another 10%.

However I am now of the strong opinion that we are now at the absolute pinnacle with a 5% rise this year solely caused by people who are throwing in the towel fed up with waiting.

But if you look to previous crash scenarios that was a similiar factor that became the straw that broke the camels back.

My advice for anyone today would be to sell up if you are an investor and bank the cash. If you are not an investor and in it for a home then make damm sure you have fixed your mortgage for 15yrs.

Fixing for 2yrs is quite frankly pathetic, if you honestly think that a recession and crash will arrive and leave in two years then you should think again.

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A family home where I live is 400K MINIMUM. I have 300K STR fund. It's worth the wait as I live comfortably off the interest...

But I thought London and SE was starting to pick up again? Suppose you delay your return too long.

Surely a 50 - 75% deposit is sufficient to counter possible negative equity. I assume if you're buying a family home you probably wouldn't be looking to move again too soon?

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On a purely economic measure

the time to buy is when nobody else thinks it is a good idea.

Time to sell is when everyone else thinks it is a good time to buy.

on a personal measure though the best time to buy is when the benefits of buying outweight the benefits of staying put. and the best time to sell is vice versa.

If your personal measure is dominated by economic considerations then the two measures are closely aligned.

I rent with a housemate for economic considerations. Its easy to split rent 50-50. and house (Flat) prices where I live are way too expensive for either of us.

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I have been on this site for over three years, and those that know me will identify me as a Bull.

Never one to follow the crowd, and come to my own conclusions I have for the past three years been correct. "There has not been a property crash despite listening to people at work and on this site saying "Its here Its here" and then property goes up another 10%.

However I am now of the strong opinion that we are now at the absolute pinnacle with a 5% rise this year solely caused by people who are throwing in the towel fed up with waiting.

But if you look to previous crash scenarios that was a similiar factor that became the straw that broke the camels back.

My advice for anyone today would be to sell up if you are an investor and bank the cash. If you are not an investor and in it for a home then make damm sure you have fixed your mortgage for 15yrs.

Fixing for 2yrs is quite frankly pathetic, if you honestly think that a recession and crash will arrive and leave in two years then you should think again.

I agree with you. This is probably the last year of definitely no crash.

I'm fairly confident there will be a selective crash over the next 3 year period ie 2007 - 2010. And then a long slow recovery. Might take 20 years to regain purchase price in some areas.

I also think low interest rates are a historical anomaly.

I'm buying now because I don't want to wait another 2 -3 years before getting on with life.

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I agree with you. This is probably the last year of definitely no crash.

I'm fairly confident there will be a selective crash over the next 3 year period ie 2007 - 2010. And then a long slow recovery. Might take 20 years to regain purchase price in some areas.

I also think low interest rates are a historical anomaly.

I'm buying now because I don't want to wait another 2 -3 years before getting on with life.

So your 'life' is owning a house? I'm getting on with my life - I just dont have a house.

I also don't have a flash car - does buying one mean I'm getting on with my life?

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Never one to follow the crowd, and come to my own conclusions I have for the past three years been correct. "There has not been a property crash despite listening to people at work and on this site saying "Its here Its here" and then property goes up another 10%.

Really? Then how do you explain this from non other than the Halifax for 2005?

38 counties have seen a modest fall (an average of 4%) in prices over the past year with these counties being mainly in southern England and the midlands. Four of the 10 counties recording the biggest falls are in the South East, two in the South West and West Midlands and one each in the East Midlands and East Anglia. The biggest house price falls over the past year have been in Somerset (-10%), Oxfordshire (-9%) and Hertfordshire and West Sussex both with -7%. These falls, however, need to be viewed in the context of the substantial price rises recorded in these parts of the country during the last few years.

That fall in Oxfordshire took £23K off the average house.

Wake up and smell the coffee mate.

In fact if you strip out N.Ireland and Scotland the Halifax figures for UK would be more like -7% HPI (inflation adjusted). That's a years post tax income off the average house to the average UK person.

Edited by munimula

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Said it before. Say it again.

My cousin's flat in Walthomstow dropped in valuation from 190k to 175k over the last year.

Some prices are going up in certain areas...others are most defeintely dropping/have dropped.

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So your 'life' is owning a house? I'm getting on with my life - I just dont have a house.

I also don't have a flash car - does buying one mean I'm getting on with my life?

No life is not purely owning a home. But it is an important part for me and my family.

We all have different measures as to how important material goods are.

I'm buying a home that will be a decent backdrop for my art collection.

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Considering the current state of affairs, when do people think the right time to sell was/is in the current market?

Also, a question for the bulls, please convince me why NOW is a good time to buy?

Thanks

I would have liked to have sold a few months ago. Had I been single, I probably would have tried to, without holding out for the highest price possible. I would not have re-entered the OO market for a considerable time.

I based this thinking on the current condition of my property, what improvements/maintenance will be needed over the next 5 or so years and what this is likely to cost. I also considered the ages that my neighbours families will have attained over this time (toddlers turning into proper kids, kids turning into teens etc). Will I still be happy in the property in 5 years time?

I think we've settled on staying put for a while now. Mrs Khali would like to move, but realises that the numbers don't add up at the moment.

I get the feeling that Joe Public's confidence in bricks and mortar is being steadily eroded now.

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