ASH BASH Posted December 7, 2004 Author Share Posted December 7, 2004 im only at my parents till i get somewhere to rent then possibly buy i couldnt /wouldnt find anywhere till the contracts were exchanged as the buyer had already pulled once {thought he might do it again} Quote Link to comment Share on other sites More sharing options...
chartist Posted December 7, 2004 Share Posted December 7, 2004 BIG STYLE FOR WHERE I LIVE I MEANT WHICH IS MIDDLESBROUGH AND IVE PROFITED TO THE SUM OF FOUR TIMES THE LOCAL AVERAGE WAGE <{POST_SNAPBACK}> Well, it is not profit as much you know - IT IS INFLATION. If you want to buy, says, an ex-council house, you need eight times Middlesbrough average wage. There are some houses here... http://www.housepricecrash.co.uk/forum/ind...?showtopic=3533 Quote Link to comment Share on other sites More sharing options...
200p Posted December 7, 2004 Share Posted December 7, 2004 ash bash Seems you made the money, so now you are an expert in your own right in properly trading. But to be a true property trader you re going to have to have youre fingers burnt some time or another- bear that in mind Thats life. Quote Link to comment Share on other sites More sharing options...
ASH BASH Posted December 7, 2004 Author Share Posted December 7, 2004 trev im no expert i did make money but if i was an expert i would have bought the biggest house i could have in 2002 all im worried about is if there is more to go in this price rising as it seems we are behind /north/south divide and there maybe more to come who knows? Quote Link to comment Share on other sites More sharing options...
ASH BASH Posted December 7, 2004 Author Share Posted December 7, 2004 lets face it everyone who comes to this forum is hoping for a price crash for various reasons but is it really going to happen? Quote Link to comment Share on other sites More sharing options...
Dicky Posted December 7, 2004 Share Posted December 7, 2004 there is more to go in this price rising as it seems we are behind /north/south divide and there maybe more to come who knows? <{POST_SNAPBACK}> Doubt it, the banks are tightening their purses, the money has to come from somewhere. Quote Link to comment Share on other sites More sharing options...
ASH BASH Posted December 7, 2004 Author Share Posted December 7, 2004 from what ive read some areas were starting to go flat in 2002 wheras up here its rocketed till april 2004 just wondering would house prices plummet uk wide at the same time? Quote Link to comment Share on other sites More sharing options...
200p Posted December 7, 2004 Share Posted December 7, 2004 trev im no expert i did make money but if i was an expert i would have bought the biggest house i could have in 2002 all im worried about is if there is more to go in this price rising as it seems we are behind /north/south divide and there maybe more to come who knows? <{POST_SNAPBACK}> If I had 80K to spare i would wait Meantime I would pick up the the property papers and have a look whats happening, FTB are not in the buying in the market - most national papers are agreeing with this for various reasons - listed in the FAQ of this website. So prices will fall. BTL are not getting the yeilds and show signs of bailing - do the maths for the properties in your area. My area Cheapest - Boscombe studio - £70K. If I invested in that the repayment would be somewhere 425 per month. Currently rent wouldnt cover that or be very slim. Thats my ancetodal view. Quote Link to comment Share on other sites More sharing options...
Dicky Posted December 7, 2004 Share Posted December 7, 2004 from what ive read some areas were starting to go flat in 2002 wheras up here its rocketed till april 2004 just wondering would house prices plummet uk wide at the same time? <{POST_SNAPBACK}> 30% rise in the cost of borrowing over the last 12 months, thats how. The real cost hasen't been felt yet, wait til the 2 year discount period ends in 2005, its going to be a real shock to the system. 200K at 3% discount IR mortgage = 500 pcm 200K at 6.5% = 1083 pcm. Folks that bought at x3 should be okay, unfortunatley in the last 18 months most have been at x 5 and x6. Thats alot of houses 100,000 x 18 = 1.8 Million homes. Quote Link to comment Share on other sites More sharing options...
ASH BASH Posted December 7, 2004 Author Share Posted December 7, 2004 i agree ftb are less on the ground round here but like any house if its priced right it will sell eventually {wouldnt it} Quote Link to comment Share on other sites More sharing options...
stinkfist Posted December 7, 2004 Share Posted December 7, 2004 30% rise in the cost of borrowing over the last 12 months, thats how.The real cost hasen't been felt yet, wait til the 2 year discount period ends in 2005, its going to be a real shock to the system. 200K at 3% discount IR mortgage = 500 pcm   200K at 6.5% = 1083 pcm.    Folks that bought at x3 should be okay, unfortunatley in the last 18 months most have been at x 5 and x6. Thats alot of houses 100,000 x 18 = 1.8 Million homes. <{POST_SNAPBACK}> If your prediction is right ( and I agree to an extent) then things really are going to get very messy. As an aside I met up with an old friend who became an EA and asked him what he thought of the whole sorry mess. His reply was to tell me that time would tell but a house was a home not just a roof over one's head. I then found out he had a self cert mortgage himself....@kin kn*b of what !? Quote Link to comment Share on other sites More sharing options...
200p Posted December 7, 2004 Share Posted December 7, 2004 i agree ftb are less on the ground round here but like any house if its priced right it will sell eventually {wouldnt it} <{POST_SNAPBACK}> Yes it would sell - but it would take longer, and only at a lower price. (is it average it took 9 weeks to sell, now a month ago it took 13 weeks, cant remember which newspaper) And in that time you can lose money on paying stuff like council tax mortage, maintenance charges etc. Quote Link to comment Share on other sites More sharing options...
200p Posted December 7, 2004 Share Posted December 7, 2004 http://money.msn.co.uk/MyMoney/Insight/Mon...now/default.asp I thought this article may be of use to convince you to buy now under - "2) Property IS a good long-term investment" Quote Link to comment Share on other sites More sharing options...
zzg113 Posted December 7, 2004 Share Posted December 7, 2004 What that article fails to mention is the 2,731 reasons NOT to buy now. Quote Link to comment Share on other sites More sharing options...
200p Posted December 7, 2004 Share Posted December 7, 2004 What that article fails to mention is the 2,731 reasons NOT to buy now.<{POST_SNAPBACK}> LOL it was written back in september! Quote Link to comment Share on other sites More sharing options...
zzg113 Posted December 7, 2004 Share Posted December 7, 2004 LOL it was written back in september! So? Quote Link to comment Share on other sites More sharing options...
200p Posted December 7, 2004 Share Posted December 7, 2004 So? <{POST_SNAPBACK}> Time to buy then was slightly more attractive then now. Sorry i am not explaining myself.... Buy now and you will crash and burn......... Quote Link to comment Share on other sites More sharing options...
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