Jump to content
House Price Crash Forum

Gu16 And Camberley


dellboy
 Share

Recommended Posts

Well new instructions are slow, but I'm only seeing 1 or 2 sales a week in the sub £250k price range, there are probably 230ish properties on the market in the areas I monitor.

Flats seem almost impossible to sell.

I was speaking to a Romans EA the other day, he said that he expects prices to fall for at least 18 months.

Link to comment
Share on other sites

Well new instructions are slow, but I'm only seeing 1 or 2 sales a week in the sub £250k price range, there are probably 230ish properties on the market in the areas I monitor.

Flats seem almost impossible to sell.

I was speaking to a Romans EA the other day, he said that he expects prices to fall for at least 18 months.

Ok update time. Well we're in the process of buying a 'cheap' flat in the balmoral drive estate. Our reasoning is its 20% cheaper than what was paid for it in 2006, and like for like rent vs io mortgage it is a 3rd of the monthly cost. from 675 to 220. (we will have a repayment mortgage but for comparison reasons have to compare via io). We''re not using all our deposit and the intention is to buy a house in 2-3years time under the assumption of having not lost too much on the flat and remortgage to rent it out and buy the house with savings and remainder of deposit money not used for the flat.

The news today is not promising for a 'stagnent' housing market we are hoping for. However it does suggest interest rates will stay low with more QE.

Link to comment
Share on other sites

U buying a place near Herbies pizza, there was a represession in that block. I thought about doing a similar type of thing, but my company has just been taken over so there is achance I could lose my job so I'm staying at home :s

Yeah, the repo has sold to a friend and we bought(buying) the one next door (for more unforutnately!). Probably not t he most financially astute decision we'll make but it will reduce our monthly payments by 66%. The money we are stumping up as a deposit is earning no more than £50 a month in interest, but as a deposit , it saves us over 400. (all things being equal!)

Our intention is to live in it for a few years and hopefully extract some of our deposit back (if there's any left!) and buy a house while renting the flat out as some sort of income for other half should we have children. However who knows what the finance situation will be like in 3 or more years so that is just a rough intention.

Edited by sympatex
Link to comment
Share on other sites

Well I home the buying process is nice and smooth, I'll rememember to wave when I'm at Herbies Pizza :)

TBH they were pretty cheap for todays prices, i was surpised when I saw the Repo fall through at one point, iirc it was under offer for only £134k?

Yes apparently the repo was for about that but the person who had it accepted either lost / became concerned about job security. Our friend took over the repo and has moved in now. She had to pay fractionally more, not entirely sure why but peanuts more. We had to pay quite a bit more sadly because we weren't buying from the building society / bank. Not to worried though as the 2 phase housing mrket has come to our rescue as we're able to stump up the 25% dep to get a 2.29% mortgage. Our deposit was not doing much for us in a bank.

Link to comment
Share on other sites

  • 3 months later...
  • 4 weeks later...

How did the move go sympatex? Just tried PMing you but it failed for some reason!!

Can you or anyone else recommend a solicitor in the local area?

Overall it went smoothly but it did take time. Our solicitor had issues getting information out of the landowner and the maintenance people. It was all sorted out and we took over on December 1st.

We used Brooks and Partners on Frimley High Street because they were local and the EA and them had a tie up together. You can go directly to thm privately to try and save some pennies but it won't be masses.

They seemed to do a reasonable job and kept is in the loop when needed.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.





×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.