LeazesMag 0 Posted June 18, 2010 Share Posted June 18, 2010 Scrapping of HIP, resulting in an increase of homes up for sale. Current economic situation and mortgage prices etc. Does anyone work in this field ? What impact has it had and is likely to have on house prices in the 2nd half of this year ? In your opinion of course. Link to comment Share on other sites More sharing options...
Rob W 0 Posted June 18, 2010 Share Posted June 18, 2010 House prices hold up in Landahn and the SE for 2011 - as people get used to the cut backs the usual "ripple" effect starts to move out from the SE reaching Tyneside around 2014 - until then only people who HAVE to move will sell Link to comment Share on other sites More sharing options...
Christmas Tree 4669 Posted June 18, 2010 Share Posted June 18, 2010 Just sold a property in East Boldon that went on the market in March and sold very quickly. Really depends where the property is and how realistic you are about the price. Would guess its a bit tougher in places like West Denton Link to comment Share on other sites More sharing options...
Christmas Tree 4669 Posted June 18, 2010 Share Posted June 18, 2010 And its announced today that Mortgage lending increased by 7% last month Link to comment Share on other sites More sharing options...
AgentAxeman 169 Posted June 18, 2010 Share Posted June 18, 2010 we've just sold aswell. as CT said you just have to realistic about the asking price. hopefully the market will stabilise over the next couple of years. Link to comment Share on other sites More sharing options...
Renton 21042 Posted June 18, 2010 Share Posted June 18, 2010 we've just sold aswell. as CT said you just have to realistic about the asking price. hopefully the market will stabilise over the next couple of years. I don't think it will. I'm considering moving but have no idea when will be the best time. Link to comment Share on other sites More sharing options...
AgentAxeman 169 Posted June 18, 2010 Share Posted June 18, 2010 we've just sold aswell. as CT said you just have to realistic about the asking price. hopefully the market will stabilise over the next couple of years. I don't think it will. I'm considering moving but have no idea when will be the best time. tbh renton, i'm not certain that this is the best time to move but sometimes you just gotta take a chance. i dont think house prices will move about too much for the next few years and i certainly dont think they're going to crash anytime soon. Link to comment Share on other sites More sharing options...
Christmas Tree 4669 Posted June 18, 2010 Share Posted June 18, 2010 we've just sold aswell. as CT said you just have to realistic about the asking price. hopefully the market will stabilise over the next couple of years. I don't think it will. I'm considering moving but have no idea when will be the best time. Anytime is the best time. The ups and downs of the housing market only really effect people either just starting or just finishing. For everyone else what you lose or gain when selling is usually mirrored by what you lose or gain when buying. If anything there should really be some great bargains out there due to a lot of repossessions. Link to comment Share on other sites More sharing options...
LeazesMag 0 Posted June 18, 2010 Author Share Posted June 18, 2010 And its announced today that Mortgage lending increased by 7% last month now that is bad news if true. I'm asking from the point of view of someone who effectively has the money to buy and wants to do it in the next few months . Link to comment Share on other sites More sharing options...
Meenzer 15347 Posted June 18, 2010 Share Posted June 18, 2010 The market needs to crash at some point for the sake of the future economy, but successive governments seem pretty determined to prop it up artificially because the consequences of a crash would be pretty horrendous for actual regular people (though it's hard to feel sympathy for anyone who bought an overpriced property at the peak of the market using a 125% mortgage from Northern Rock, say, but there you go). Either way, I tend to agree that there won't be much price movement over the next few years really - not unless interest rates go up, and they won't for the aforementioned reason unless there are wider-reaching considerations for doing so. Can't see any government wanting the resulting carnage and social unrest on their hands to be honest. Link to comment Share on other sites More sharing options...
donaldstott 0 Posted June 18, 2010 Share Posted June 18, 2010 As CT said it depends where you are, in Reading the prices have been maintained. We bought in 2005 for 165k and have just sold for 200k. Link to comment Share on other sites More sharing options...
LeazesMag 0 Posted June 18, 2010 Author Share Posted June 18, 2010 Don't need to sell, want to buy a flat in the west end Link to comment Share on other sites More sharing options...
Christmas Tree 4669 Posted June 18, 2010 Share Posted June 18, 2010 Don't need to sell, want to buy a flat in the west end Get yerself to the next Keith Pattison auctions. Check their website to see whats coming up. In your position you should get a cracking deal. Link to comment Share on other sites More sharing options...
Rob W 0 Posted June 18, 2010 Share Posted June 18, 2010 For what its worth we have a friend who is a Director of a small chain of Agents in the Midlands - she reckons prices won't go down but that not much will move - if you HAVE to sell then taking the price down ++5% isa n absolute necessity On the other hand there are fewer chains about Link to comment Share on other sites More sharing options...
Jill 0 Posted June 18, 2010 Share Posted June 18, 2010 I'll sell you a repo on the cheap. Link to comment Share on other sites More sharing options...
ewerk 30164 Posted June 18, 2010 Share Posted June 18, 2010 What's business been like with repos? I haven't seen too many over here. Link to comment Share on other sites More sharing options...
Jill 0 Posted June 18, 2010 Share Posted June 18, 2010 Repo sales were very busy last year but have died down a lot this year as it's more difficult to repossess the properties in the first place due to the new court rules. Still enough to keep us in work though, thankfully. Link to comment Share on other sites More sharing options...
NJS 4355 Posted June 18, 2010 Share Posted June 18, 2010 I'll sell you a repo on the cheap. I'm going to sound like a right lefty, hippy, soft twat here (which I accept) but I feel uneasy about "taking advantage" of repos. A lad at work bought one about 18 months ago and I couldn't help saying it was like taking taxi fare of a mate when he's passed out pissed. I completely understand and accept the notion of being responsible for a mortgage but just feel capitalising on misfortune isn't right. Link to comment Share on other sites More sharing options...
Jill 0 Posted June 18, 2010 Share Posted June 18, 2010 I'll sell you a repo on the cheap. I'm going to sound like a right lefty, hippy, soft twat here (which I accept) but I feel uneasy about "taking advantage" of repos. A lad at work bought one about 18 months ago and I couldn't help saying it was like taking taxi fare of a mate when he's passed out pissed. I completely understand and accept the notion of being responsible for a mortgage but just feel capitalising on misfortune isn't right. I can completely see your point tbh. It's difficult trying to justify some of the sale prices to borrowers but I blame the estate agents for that because everyone hates them, and it's their fault anyway. Some of the prices they sell at are absolutely nothing though. I also get the pleasure of chasing borrowers to recover the mortgage shortfall after the sale and some of the time we're talking well over £100-200k*. I had a new one today that was £461k. *That's quite a range. Link to comment Share on other sites More sharing options...
LeazesMag 0 Posted June 18, 2010 Author Share Posted June 18, 2010 I'll sell you a repo on the cheap. pm me Link to comment Share on other sites More sharing options...
Jill 0 Posted June 18, 2010 Share Posted June 18, 2010 I'm off next week so I don't know what we're selling. Fail. Link to comment Share on other sites More sharing options...
manc-mag 1 Posted June 19, 2010 Share Posted June 19, 2010 I'll sell you a repo on the cheap. I believe you're under a duty to the mortgagee to get a realistic value for the property aren't you, Jill? Naughty girl!!!! Link to comment Share on other sites More sharing options...
Jill 0 Posted June 19, 2010 Share Posted June 19, 2010 I'll sell you a repo on the cheap. I believe you're under a duty to the mortgagee to get a realistic value for the property aren't you, Jill? Naughty girl!!!! Agent signs the Best Price Certificate, not me. Link to comment Share on other sites More sharing options...
manc-mag 1 Posted June 20, 2010 Share Posted June 20, 2010 I'll sell you a repo on the cheap. I believe you're under a duty to the mortgagee to get a realistic value for the property aren't you, Jill? Naughty girl!!!! Agent signs the Best Price Certificate, not me. Well I spose you were never short of enough slipperyness to get on in the law, McDade Link to comment Share on other sites More sharing options...
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