House Prices

[Bellend Sebastian]

We should team up with "Foxestalk Financial Solutions"

We'd make a killing. I'm thinking....

"Tired of all this relegation talk? Looking to remortgage your home to raise equity to put into the buy-better-players-fund? Then Foxestalk Financial is here to help"

Woop, go me...

I think it would have to be a debt management company for the people on here.

As far as recommendations go, we only need one: Don't give the Foxes another penny of your hard earned/scrounged cash

[Bert]

East Midlands houses had the highest rise it was reported yesterday.

[Tommy G]

im hoping the market crashes and burns. i will be looking to buy a house in two years time or more, so it will be perfect for me if there is a slump now

[Fat Ron]

Ok, on a serious note..

Possibly looking to sell, should make around £10-15K profit on current property, is it worth me looking to sell now or leave it for a while?

[Bellend Sebastian]

Ok, on a serious note..

Possibly looking to sell, should make around £10-15K profit on current property, is it worth me looking to sell now or leave it for a while?

I'd expect prices to be noticeably lower in a few months time, so if you sold now and bought again then you might be better off, but it's risky and what do you do in the meantime? I'm assuming that you're talking about a house that you live in?

[Tabou]

Ok, on a serious note..

Possibly looking to sell, should make around £10-15K profit on current property, is it worth me looking to sell now or leave it for a while?

Leave it for a while I'd say. Small margins at the moment, you find that very very few people are getting close to their asking prices. The longer your on the market, the more unappealing your house will become. It's very much the case of houses having a 'Honeymoon Period'. From the day you go on the market, you have 2-4 weeks realisticallly to sell for a good price.

[Tommy G]

Ok, on a serious note..

Possibly looking to sell, should make around £10-15K profit on current property, is it worth me looking to sell now or leave it for a while?

I'm not a homeowner but no-one should be surprised that the market’s previous giddy growth is stalling. This was widely forecast LAST Christmas as the inevitable consequence of the strain imposed on household budgets by higher interest rates, particularly for those whose discounted fixed rate mortgage deals were due to come to an end.

It’s all about affordability: prices have risen faster than earnings for about 15 years now? The Bank of England is now panicking with the situation of the credit crunch and mortage prices - this is why there has been a lot of rate fluctuation in the last 18 months.

I would wait until the ship steadies for perhaps another 6 months

[Bellend Sebastian]

Here's a great scare story:

http://www.telegraph.co.uk/money/main.jhtm...7/bcnimf317.xml

[Tommy G]

Here's a great scare story:

http://www.telegraph.co.uk/money/main.jhtm...7/bcnimf317.xml

Thats good news from my point of view. The people that will suffer the most are the ones that have bought in the last 2.5 years, then it depends on the region they live in.

[James.]

I'm not a homeowner but no-one should be surprised that the market’s previous giddy growth is stalling. This was widely forecast LAST Christmas as the inevitable consequence of the strain imposed on household budgets by higher interest rates, particularly for those whose discounted fixed rate mortgage deals were due to come to an end.

It’s all about affordability: prices have risen faster than earnings for about 15 years now? The Bank of England is now panicking with the situation of the credit crunch and mortage prices - this is why there has been a lot of rate fluctuation in the last 18 months.

I would wait until the ship steadies for perhaps another 6 months

You should really reference your sources Tommy lad. Did you miss the class on plagiarism?

The Times Online

[Fat Ron]

I'd expect prices to be noticeably lower in a few months time, so if you sold now and bought again then you might be better off, but it's risky and what do you do in the meantime? I'm assuming that you're talking about a house that you live in?

Yeah, its the house we live in. We would be looking to sell and then rent for 6 months to gain full effect of the 'crash', thats providing there is actually going to be one?

Leave it for a while I'd say. Small margins at the moment, you find that very very few people are getting close to their asking prices. The longer your on the market, the more unappealing your house will become. It's very much the case of houses having a 'Honeymoon Period'. From the day you go on the market, you have 2-4 weeks realisticallly to sell for a good price.

I've thought about this, there was a guy not far from us who had his house on the market for ages. He kept dropping the price, I can only presume he had bought from council which is why he was able to drop so frequently.

I only want to sell if we can actually make a profit, its my own fault, if I hadnt remortgaged to get married and buy a car I would have been looking at well over £45k profit

I'm not a homeowner but no-one should be surprised that the market’s previous giddy growth is stalling. This was widely forecast LAST Christmas as the inevitable consequence of the strain imposed on household budgets by higher interest rates, particularly for those whose discounted fixed rate mortgage deals were due to come to an end.

It’s all about affordability: prices have risen faster than earnings for about 15 years now? The Bank of England is now panicking with the situation of the credit crunch and mortage prices - this is why there has been a lot of rate fluctuation in the last 18 months.

I would wait until the ship steadies for perhaps another 6 months

Although I am a homeowner I have no idea what/how or when to look to move

Shall I sell now and make some wonga, only to piss it up the wall?!?!

I'm a bit like a twat with a shot gun!!

Here's a great scare story:

http://www.telegraph.co.uk/money/main.jhtm...7/bcnimf317.xml

This doesnt look good. Or am I being reading this as any average joe and going into Panick mode??

[Monk]

I would wait until the ship steadies for perhaps another 6 months

You should be so bloody lucky! This will last a lot longer than 6 months. And even then I doubt it will return to what today's young buyers consider as 'normal'.

[Master Fox]

East Midlands houses had the highest rise it was reported yesterday.

[Dr The Singh]

You should be so bloody lucky! This will last a lot longer than 6 months. And even then I doubt it will return to what today's young buyers consider as 'normal'.

Agree, I feel for future generatoins, the country is already overpopulated and with an increasing population it's likely that the housing pronblem will remain and possibly get worse!!!

[Tabou]

You should be so bloody lucky! This will last a lot longer than 6 months. And even then I doubt it will return to what today's young buyers consider as 'normal'.

Interest rates will end the fiscal year at around 4.5% i should imagine. It will then take a good year-2years to restore consumer confidence. That is when Lenders will start to reasses the way in which they market their stock, and criteria changes will allow the mortgage market to get back to some form of normality.

There are some positives to this "Crisis" however....

1) It will make people who spend £1000's on the never never to realise the error of their ways and hence, credit lending will be restricted. Those who can't afford to repay commitments will not be offered the cards in the first place.

2) I have close links (both on a business and personal front) with Estate Agents. They are experiencing a MASSIVE drop in buyers. What this means, is that alot of the rogue traders, fly by night agents and general tossers who claim to be "property experts" will disappear. Those quality agents (the few that are still around) who can weather the storm will come out of the impending crisis with far more credability. Sort the wheat from the chaff and all that...

Misguided conception of the day goes to TommyG. If you think that in two/three years time that you are going to grab yourself a bargain on the housing ladder, you are very much mistaken.

The BIGGEST loosers in all of this are people who are planning/in the process of buying New Build Properties, as well as people who have bought "Luxury flats".

[andyh1884]

The BIGGEST loosers in all of this are people who are planning/in the process of buying New Build Properties, as well as people who have bought "Luxury flats".

I work for a company who builds city-centre apartments. We are having loads of problems selling the last few on several schemes, due to a combination of over-supply and the re-sale value of ones we've built where the owners are now selling on, often at less than the asking price of the ones we've still to sell.

We've had people we sold apartments to write to us asking us if we want to buy it back at the price we sold it to them at. It's hard to believe they're seriously asking that question

[James.]

Misguided conception of the day goes to TommyG.

Hey leave Tommy alone. He copied and pasted his post from a Times Online article, it's not like that's his opinion or anything!

[Master Fox]

Hey leave Tommy alone. He copied and pasted his post from a Times Online article, it's not like that's his opinion or anything!

lol

[Daggers]

Well I always say, despite the lending squeeze, it’s still possible to get a mortgage if you have a deposit saved. But unless you are expecting a pay rise soon, you may still struggle to afford the monthly repayments.

What do you reckon Tommy?

[hebangsthedrums]

I think there will be a steady decline for 4/5 years or so. I feel sorry for those who just bought a home but can't resist chuckling at BTL 'property developers'. I know you shouldn't laugh at others misfortune but another forum I read is (was) full of smug 'my portfolio blah blah blah' 'I have x hundred thousand equity'.

I also think anyone who is/was thinking of buying should change that goal into saving a decent deposit. That way if prices steady you've lost nothing (don't say renting is 'dead money' as it very often isn't), and if they don't you can buy. Many opinions I have read agree you pay double the value of your house over the life of a mortgage -therefore the less that proportion of mortgage is, the more you save in interest

Hey leave Tommy alone. He copied and pasted his post from a Times Online article, it's not like that's his opinion or anything!

haha

[Raj]

My Mortgage deal expires in Dec and im shitting myself as i expect to pay atleast another 50-75 squid more per month.

With a little baby coming in Sept,hence Mrs not working i feel it could be abit of an arsehole!!!

Any money people want to give can be given via paypal to [email protected]

And waht the fcuking use of the Bank of E lowering interest rates if the bloody banks abd Building Societies just raise them.

(i knon its already been answered but i was angry!)

[hebangsthedrums]

My Mortgage deal expires in Dec and im shitting myself as i expect to pay atleast another 50-75 squid more per month.

With a little baby coming in Sept,hence Mrs not working i feel it could be abit of an arsehole!!!

Any money people want to give can be given via paypal to [email protected]

And waht the fcuking use of the Bank of E lowering interest rates if the bloody banks abd Building Societies just raise them.

(i knon its already been answered but i was angry!)

Raj if you've got at least 20% equity HSBC will match your rate

[Bellend Sebastian]

My Mortgage deal expires in Dec and im shitting myself as i expect to pay atleast another 50-75 squid more per month.

With a little baby coming in Sept,hence Mrs not working i feel it could be abit of an arsehole!!!

Any money people want to give can be given via paypal to [email protected]

And waht the fcuking use of the Bank of E lowering interest rates if the bloody banks abd Building Societies just raise them.

(i knon its already been answered but i was angry!)

That's no way to talk about your unborn child. You should be pleased

[Raj]

Raj if you've got at least 20% equity HSBC will match your rate

Yeah i read about this.

BUT as my deal doesnt expire til DEc and i would have to pay early redemption penalty charge if i let early,Would hsbc hold this deal for me until DEc??

Plus surely they will charge a massive arrangement fee to make some money out of it???

I think they go ahed on MOnday so i will make an appointment.

That's no way to talk about your unborn child. You should be pleased

I wasn't talking about the nipper,clever clogs!

[Daggers]

Nothing would make me happier than to see a total collapse in the house market as it would really benefit us...which means it probably won't.

Our fixed rate deal runs out in the summer - I need to find extra cash from that point on:

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