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Shall i sell my flat?
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Sounds to me like you should sell.;)
Silly question but why did you put it on the market if you didnt want to sell?Pawpurrs x
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What turn is that then? Stockmarkets go up and down on a daily basis. They'll probably go down tomorrow. If not, the day after that.ChrisHoward wrote: »all fees.
So, i beg the question - considering the recent turn in the US markets, is now really the best time to sell? will it 'really' get that much worse in the next 12 months?? I dare not ask my estate agent - as we all know, they're on comission!Krusty & Phil Madoff, 1990 - 2007:
"Buy now because house prices only ever go UP, UP, UP."0 -
Give it 12 months.....ad44downey wrote: »What turn is that then? Stockmarkets go up and down on a daily basis. They'll probably go down tomorrow. If not, the day after that.
That the US federal reserve has just taken over Mac & Mae - the two mortgage brokers that underpin the US economy... meaning the massive jump in confidence in the markets.Silly question but why did you put it on the market if you didnt want to sell?
It's called heartbreak
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ChrisHoward wrote: »No, the tenants will not cover the mortgage comfortably. However, the offset in mortgage payments will mean that the amount i will have to subsidies is less than the amount of mortgage that would be paid off. In all, after fees and increase mortgage rates, i will have to subsidies the rent by £1,400 a year. However, because of the amount of mortgage paid off, if i sold in 2 years at the same price as i have ahcieved now, i will sell with a profit of £4,900 after all fees (at the same rates as today).
toughy!
If you decided to keep the flat, could you go interest only to cover the mortgage and wait for the up-turn (but you could be waiting another 10 years or more if some of the newspapers are to be believed)
If it was me, I think I'd take the £500 hit and get out, but that's just my opinion.I'm a retired employment solicitor. Hopefully some of my comments might be useful, but they are only my opinion and not intended as legal advice.0 -
They only went up a couple of percent. They could go down a couple of percent tomorrow. They're down about 20% year on year. You don't know much about stockmarkets, do you?ChrisHoward wrote: »That the US federal reserve has just taken over Mac & Mae - the two mortgage brokers that underpin the US economy... meaning the massive jump in confidence in the markets.
It's called heartbreakKrusty & Phil Madoff, 1990 - 2007:
"Buy now because house prices only ever go UP, UP, UP."0 -
Give it 12 months.....ad44downey wrote: »They only went up a couple of percent. They could go down a couple of percent tomorrow. They're down about 20% year on year. You don't know much about stockmarkets, do you?
Nope! That's why i'm asking 0 -
I can't believe you're reconsidering a sale just because the stockmarket went up today. Because like I said it'll probably go down tomorrow. You should snap the mug's hand off who agreed to buy your place before he changes his mind. And he might well do when he sees house prices continuing to fall in the next few months.Krusty & Phil Madoff, 1990 - 2007:
"Buy now because house prices only ever go UP, UP, UP."0 -
Yes! DO IT YOU FOOL!In another thread in this forum, people are voting on what they think will happen to house prices in the next 2 years. Currently showing as an expected 25% fall. Whether that's right or not, who knows, but it does represent the concensus of people on this forum, so it's as valid as the individual replies you have had on this thread.No reliance should be placed on the above! Absolutely none, do you hear?0
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Give it 12 months.....ad44downey wrote: »I can't believe you're reconsidering a sale just because the stockmarket went up today. Because like I said it'll probably go down tomorrow. You should snap the mug's hand off who agreed to buy your place before he changes his mind. And he might well do when he sees house prices continuing to fall in the next few months.
You're right dude. It's not just the few percent rise - it's the combined stamp duty change and interest free loans they've announced. This was 'strike 3' so to speak - so i thought i'd ask.
As far as i know, the seller is getting a good deal - we negotiated well and they are getting more that just the flat so everyone's happy i guess.
Thanks for answering my questions guys - i am glad we all share a relative consensus of opinion!0 -
ChrisHoward wrote: »i bought it for around £139k in 2005 and the offer is £147k. it hit an estate agent's peak of £175 only 8 months ago - but due to fees and paying back a loan, i'll end up £500 short.
Cruel world! Cruel world!!!
That looks like 8k profit on the house to me, how do you figure a loss?This is an open forum, anyone can post and I just did !0
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