Right time to buy????????

pickledpink

brit1234 wrote: »

I still reckon I can get 50% off peak by Christmas 2009. I've already seen 50% off some property already in the area around London where I live

Hold out for as long as possible and save. Prices are going to fall for sometime yet and won't rise again for years.

Well according to your calculations, Brite, you'll be able to buy a property for £0.00 by Christmas 2009!:rotfl: :rotfl: :rotfl: :rotfl:

Incisor

pickledpink wrote: »

Well according to your calculations, Brite, you'll be able to buy a property for £0.00 by Christmas 2009!:rotfl: :rotfl: :rotfl: :rotfl:

I'm waiting to Christmas 2010, when they will pay me to take one.

pickledpink

JamesRees wrote: »

Hi my girlfriend and i are currently renting and are looking to buy. Can anyone give me some advice on when they think the best time to buy will be??? Thanks

James,

I don't know which part of the country you are in - and regions vary wildly in price.

What I can tell you is, lots of properties round my way are selling (as Rightmove will prove) so if you find a desirable area you like you should try to buy by next Spring before the bargains are all snapped up. They're certainly being snapped up here.

Whereabouts are you?

poppysarah

JamesRees wrote: »

thanks people,

i have nt got a deposit saved because i m in the navy and i m getting deposit sorted out through them.

Can you and your gf not save a deposit yourselves too?

brit1234

pickledpink wrote: »

Well according to your calculations, Brite, you'll be able to buy a property for £0.00 by Christmas 2009!:rotfl: :rotfl: :rotfl: :rotfl:

I don't think your using my calculations some how.

We have seen how many people can not get mortgages or deposits despite the large price falls. Now with bank losses getting bigger there will be even less money to lend so even toughter mortgae lending will happen.

I don't think people or developers will hold out at prices that no one can get mortgages for the next 13 months.

No 50% falls based on a return to 3.5 times lending and a deposit are on their way.


By the way hows the equity in your BTL portfolio?

Annpan

JamesRees,
Take no notice of the Pickled one, she's delusional.

ad9898_3

I've said it before but the use of the :rotfl:more than once in a post or even worse repeatedly after each other gives the impression of dumbness.

Whats even worse is using it to laugh at something you have said, its like laughing at your own joke, whats that about ??

Having posted here for a while the use of this icon should only be used when laughing at one of mewbies amusing posts.:D

confused31_2

sweetpee wrote: »

Ann,

I've watched you insult pp several times now, Stop being rude and going off topic. If you have issues with pp take it outside. This is a mse forum, OK?

James,

Take no notice of this petty backstabbing, I think pp is okay, she is financially okay it seems so her advise could be well good.

For what it's worth, I think if your buying for the long term and you find a place you really love and it seems a good price then I would go for it.

Cheers, hope it goes well for you.

Your pickleds mate the one whos husband wouldnt get out the bed when the estate agent came round to do the photos, have you got a link??? for us all to see sweetpee???

i think you may even be pickled

confused

pickledpink

JamesRees wrote: »

Hi my girlfriend and i are currently renting and are looking to buy. Can anyone give me some advice on when they think the best time to buy will be??? Thanks

Hi again, James,

I don't know but I have a feeling that you're quite young, and you're a new member on here.

Just to warn you - there are several posters on here who will deliberately try to steer you in the wrong direction, and offer you advice of which they are not qualified. Many of these people have never even owned their own homes - so you really shouldn't take too much notice of them. (And.....some of them are very jealous people who hate people having something they'll never have!)

These people will try to talk the market down - but they're only doing that because they're hoping to jump on the bandwaggon as cheaply as possible.

As I said before, if you find a place you fall in love with, and it's within your reach, in the LONG TERM you will BENEFIT GREATLY!

All property will start to rise in value by the end of next year (possibly sooner) and once it does do - people will be making a mad dash for all the best places. Don't miss the boat by being hesitant - you'll only regret it.

Properties always go up and down (as history will prove) but in the LONG TERM it's value will just keep on increasing.

What you also need to remember is that your mortgage repayments now will seem like paying PEANUTS in 10 years or so! AND, you property will have probably TREBLED in value too!

On top of that - you'll be able to trade up if you so desire - and one day the property will belong to YOU! You'll never have to line the pockets of a landlord again. :money:

hethmar

Poor James, comes on for a bit of advice and finds himself in the middle of a hornets nest.

James, if you and the girlfriend find a decent place that you love and you can get for a good deal - remember houses are falling by about 2% a month at the moment, so work out a reasonable offer - then its your call. If you want a place to call your own then go for it. However, Im a bit worried about the deposit situation?

For what its worth, my opinion is that there will be a drift down in prices for the next 12 months and then a period of may be 5 years or more when there is very little movement. But thats not an expert opinion, just one gained by being an old dear and seeing these cycles several times now.:) If you and the girlfriend are planning long term you should be fine. Dont rush into anything, buyers have the upper hand at the moment - check out everything and also use sites like property snake and land registry to see how much similar houses in the same road are going for. Good luck - but check out the deposit situation first - what happens if you leave the Navy and owe that 10% to them still?