Jump to content
House Price Crash Forum
Sign in to follow this  
IP Newcomer

How Do We Find The Cheap Property?

Recommended Posts

I want to start a thread of how to find the cheap properties, the ones that must sell.

Do we go to building firms, auctions, national estate agent chains or hang around bankruptcy courts?

I have no real idea, and I suspect that many here don't.

Share this post


Link to post
Share on other sites
I want to start a thread of how to find the cheap properties, the ones that must sell.

Do we go to building firms, auctions, national estate agent chains or hang around bankruptcy courts?

I have no real idea, and I suspect that many here don't.

Auctions are a good bet--that is where thousands of BTLs are headed. New builds should be quite good about now as builders are facing bankruptcy unless they can raise cash.....................quick.

I wouldn't jump the gun though. The worst is yet to come. What seems cheap today will seem very expensive 6 months down the road.

Share this post


Link to post
Share on other sites
I want to start a thread of how to find the cheap properties, the ones that must sell.

Do we go to building firms, auctions, national estate agent chains or hang around bankruptcy courts?

I have no real idea, and I suspect that many here don't.

In the early 1990s there were repo/auction lists that you could subscribe to, my guess is that similar services will appear this time as well (except probably online, and free).

Share this post


Link to post
Share on other sites
I want to start a thread of how to find the cheap properties, the ones that must sell.

Do we go to building firms, auctions, national estate agent chains or hang around bankruptcy courts?

I have no real idea, and I suspect that many here don't.

The answer is very simple - WAIT.

This crash has only just started and some analysts are predicting 50% price drops. We are already seeing drops of that magnitude on flats in some parts of the country.

Share this post


Link to post
Share on other sites

I think we can do a lot to talk the market down. At the moment there is a huge spread in asking prices. Where you see this just get in contact with the agent trying to get a higher price for a virtually identical property and let them know that they are being unrealistic.

Share this post


Link to post
Share on other sites
Do we go to building firms, auctions, national estate agent chains or hang around bankruptcy courts?

I have no real idea, and I suspect that many here don't.

What we've had has really been a land bubble.

You could see this with the developers buying detached 4 bed houses, demolishing them and building 6 crummy flats, obviously for a large profit.

Now that the bust is here, land prices drop very quickly (look at the massive writedowns of the big builders).

I think it's too early to go bargain hunting at auctions, but there could well be some excellent value in buying land.

Share this post


Link to post
Share on other sites
Guest happy?
Auctions are a good bet--that is where thousands of BTLs are headed. New builds should be quite good about now as builders are facing bankruptcy unless they can raise cash.....................quick.

I wouldn't jump the gun though. The worst is yet to come. What seems cheap today will seem very expensive 6 months down the road.

Agreed. Most sensible analysts offer falls of 30%-50% over the next three years. These are only averages. In some parts of the country the maximum fall could be considerably higher than 50% - location, property-type, and forced selling will determine just how severe.

I see miserable terraced-houses in some parts of the UK were there has been no productive work in twenty years and auctioneers are currently asking £70k to £80k - my only question - why?

Share this post


Link to post
Share on other sites
Agreed. Most sensible analysts offer falls of 30%-50% over the next three years. These are only averages. In some parts of the country the maximum fall could be considerably higher than 50% - location, property-type, and forced selling will determine just how severe.

I see miserable terraced-houses in some parts of the UK were there has been no productive work in twenty years and auctioneers are currently asking £70k to £80k - my only question - why?

Answer...massive credit availability.

The credit bubble has collapsed.

The housing market, fueled by this, is to follow.

It is unavoidable.

This time, it is much, much worse.

Share this post


Link to post
Share on other sites

From what I understand from the Bank of England and the Government the downturn happened six weeks ago, its now all sorted and the bank have paid off the Trillions of pounds they have lost in property, the Government have turned trillions of dollars of debt into trillions of dollars of savings, and many people in the UK have had in the past six weeks payrises of up to 200% in order to keep up with inflation.

We have turned the corner, there has never been a better time for the Wife/Girlfriend or Gay Partner to give up their jobs and start a family, or get a puppy if you are the latter. A new car for the summer is a fantastic investment with some companies offering a free tank of fuel for purchases over 25k if you take their fantastic finance deals. The property market is set to boom over the next few days as employment prospects increase in all sectors.

Thank God people had the good sense to vote in the Labour Party for a second term, otherwise God only knows what type of mess we would all be in today. It just goes to show you how astute the British Public are when it comes to making wise decisions, a testement to the world class education system operating in the UK today.

Share this post


Link to post
Share on other sites
Guest happy?
From what I understand from the Bank of England and the Government the downturn happened six weeks ago, its now all sorted and the bank have paid off the Trillions of pounds they have lost in property, the Government have turned trillions of dollars of debt into trillions of dollars of savings, and many people in the UK have had in the past six weeks payrises of up to 200% in order to keep up with inflation.

We have turned the corner, there has never been a better time for the Wife/Girlfriend or Gay Partner to give up their jobs and start a family, or get a puppy if you are the latter. A new car for the summer is a fantastic investment with some companies offering a free tank of fuel for purchases over 25k if you take their fantastic finance deals. The property market is set to boom over the next few days as employment prospects increase in all sectors.

Thank God people had the good sense to vote in the Labour Party for a second term, otherwise God only knows what type of mess we would all be in today. It just goes to show you how astute the British Public are when it comes to making wise decisions, a testement to the world class education system operating in the UK today.

That would be the one where testament is transformed into 'testement' or is that something gonad-related?

Share this post


Link to post
Share on other sites
This time, it is much, much worse.

I guess all those pundits that said it was different this time were bob on, but not how they supposed exactly.

Share this post


Link to post
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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • 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.