Ftb's Are Back!!!!!!!!!!!!!!!!!!

confused31_2

By me there is a small village called coleshill in birmingham, now we have all been saying first time buyers are not back, but for such a small village they have 6 sstc satus first time buyer properties, since the middle of january this has got to send a sign for ftb's as the rest of the ftb's people are begining to come back and buy.

this biggest drop in propertys in this area on property snake is 7%, but i dont suppose we will know what the current houses that have sstc since the middle of january until they come up on the land registry.

Are first time buyers cominhg back everywhere or is it just this area??

And this aint no troll go on right move and see.

brit1234

I can't see how they can in any great number due to the huge deposits needed, it takes time to save them and can't be done overnight.

Maybe there will be a greater uptake in shared equity properties which work out at overvalued and 100% mortgages.

Yes first time buyers are looking but this won't translate into sales.

confused31_2

brit1234 wrote: »

I can't see how they can in any great number due to the huge deposits needed, it takes time to save them and can't be done overnight.

Maybe there will be a greater uptake in shared equity properties which work out at overvalued and 100% mortgages.

Yes first time buyers are looking but this won't translate into sales.

if they arent back why are those 6 properties changed status within 3 weeks????

maybe these first time buyers had been saving for a few years before, or maybe btl investors, but they are all first time buyer properties that have changes status and that is based on facts, not my opinion.

And i can not see any of them being shared equity properties can you??

brit1234

I've saved a deposit for the last 5-6 years. I have more money saved than anyone else I know, i represent a minority. Even with a large deposit the 25%-40% is now beyond me. Surely the amount of first time buyers with more money than me in a deposit and can afford the deposit must be such a tiny percentage of FTB that it would have hardly any affect on the housing market.

confused31_2

brit1234 wrote: »

I've saved a deposit for the last 5-6 years. I have more money saved than anyone else I know, i represent a minority. Even with a large deposit the 25%-40% is now beyond me. Surely the amount of first time buyers with more money than me in a deposit and can afford the deposit must be such a tiny percentage of FTB that it would have hardly any affect on the housing market.

just have a look at the area i have stated above, maybe its just that area, but it is definately picking up whether you like it or not, im sorry you are not in a position to buy has a first time buyer but obviously the people who are buying htese properties have.

Having said that the prices in the are the biggest drop i can find on property snake is 7%.

Im not going to argue you with you because you want houses to fall by 50% by christmas or you think they are, but i can definately say you wont find a house in this area by christmas 2009 that has fell by 50%.

if you are going to argue your case show me the proof like i have.

QTPie

confused31 wrote: »

if they arent back why are those 6 properties changed status within 3 weeks????

It will be interesting to see how many go on to complete - I have noticed quite a few sales falling through around here (including my own!). Probably for a mixture of reasons...

Would be very nice to see some more movement though

QT

confused31_2

QTPie wrote: »

It will be interesting to see how many go on to complete - I have noticed quite a few sales falling through around here (including my own!). Probably for a mixture of reasons...

Would be very nice to see some more movement though

QT

Thats right but before you complete you need a offer, before christmas by us it was has dry has a bone.

Now all of a sudden its started to pick up i think a lot of people are fed up of waiting.

QTPie

confused31 wrote: »

Thats right but before you complete you need a offer, before christmas by us it was has dry has a bone.

Now all of a sudden its started to pick up i think a lot of people are fed up of waiting.

After being gazumped by a "perfect FTB" (who wanted a quick completion date too!), I just think that an offer means very little, to be honest....

When actual sales pick up (for a few successive months), then that will be news

BUT - despite the gloom - I hope that everyone who does have an offer on their property, gets through to exchange and completion. Would be very good to see life moving on

QT

hethmar

Ive just had a phone call from a friend who have had their listed house up for sale since last July - one proposed sale fell through in September. They had no interest since then. The house is on sale at £450K and they have got 3 viewings this weekend from CASH buyers.

May be its a blip but certainly things have started moving again.

confused31_2

hethmar wrote: »

Ive just had a phone call from a friend who have had their listed house up for sale since last July - one proposed sale fell through in September. They had no interest since then. The house is on sale at £450K and they have got 3 viewings this weekend from CASH buyers.

May be its a blip but certainly things have started moving again.

I bet they werent first time buyers though at that price;)

its nice to see things are moving along though.

brit1234

Your talking yourself into a dead cat bounce. At the end of the day you can't change the fundamentals.

1. Banks have now rely on savers to lend, they can't sell off mortgage packages off for money now.
2. Low interest rates deter people saving reducing the amount of money banks can lend further.
3. Unemployment and repossessions fast rising.
4. Record debt

There is simply not the money to lend at the banks at todays housing prices. people who buy now will be in negative equity in 6 months.