Anyone Nervous?

penguine

I realised earlier today that I feel oddly relaxed (though surprised) about the Halifax figures, given that a year ago we were about to buy a house and entirely oblivious to the fact that prices were falling as well as any of the concepts related to HPI routinely discussed on this board.

The sense of mild despair I had between approx 2005 and 2007 when it seemed prices were rising further and further out of our reach and all we could afford were ticky-tacky tiny houses with cramped rooms has entirely dissipated.

Our plan for the past 6 months has been to wait until the end of this year before we start looking at houses again, and that hasn't changed. I keep an eye on the estate agents' windows just to see what's going on in our local market and there's very little for sale that interests me. What does is still out of our price range.

If the property market shoots up again, then we will stay in our flat for awhile longer, or perhaps move into a rented house and "pay someone else's mortgage". We're not going to buy unless prices fall further, so I'm not concerned about missing any proverbial boats.

GavB79

My house will be on the market within a fortnight. There are several factors as to why.
I've been in a small two bed for 4 years, I want more space and can afford a 3 bed at today's prices. I would have struggled and over-stretched in 2007.
In the last 4 years my salary has risen, my mortgage has reduced and despite my own house falling in value recently, larger houses are more attainable.
I can put down a 25% deposit thanks to existing equity.
My fixed rate period has just ended and I can borrow relatively cheaply.
I have a job in local education - schools aren't closing and I have no fears about unemployment.
I'm in my late 20s, so if prices continue to fall I'm not fussed, I can't see why I would have to sell in a slump.
ETA: I'm in a government designated growth town, with a rising population and increasing housing demand

So, is there any reason I should be nervous?

Snooze

mewbie wrote: »

Anyone Nervous?

I was a bit yesterday, but feeling better today.

WELCOME BACK MEWBIE !! :T:j:T:j:T:j

[Agent Smith voice on]We have missssssed you... :cool: [/voice]

Rob

Snooze

wheresmydoshat wrote: »

when 95% mortgages become readily available again, thats when the housing market will slowly start improving.

I agree. The fact that most lenders still require ~25% deposits for a half decent rate means to me that they are still expecting house prices to fall. :cool:

2p.

R

mewbie_2

Snooze wrote: »

frighteningly large letters

Well, I went to bed, then work, came home and logged on. Clearly my new benchmark in stupidity wasn't quite enough to get ppr'd. However, I'm not going to pretend I had an email from Misskool waiting for me when I got home.

Oh. And I'm touched as always by the literally one or two posters who missed me.

Dan:_4

Snooze wrote: »

I agree. The fact that most lenders still require ~25% deposits for a half decent rate means to me that they are still expecting house prices to fall. :cool:

2p.

R

What do you consider a decent rate Rob? Halifax have a 90% product @ 5.94% for FTBers right now. Thats sounds pretty good to me.

lostinrates

mewbie wrote: »

Well, I went to bed, then work, came home and logged on. Clearly my new benchmark in stupidity wasn't quite enough to get ppr'd. However, I'm not going to pretend I had an email from Misskool waiting for me when I got home.

Oh. And I'm touched as always by the literally one or two posters who missed me.

Can I touch you?

mewbie_2

lostinrates wrote: »

Can I touch you?

Only the hem, not the face.

tommy75

Dan: wrote: »

What do you consider a decent rate Rob? Halifax have a 90% product @ 5.94% for FTBers right now. Thats sounds pretty good to me.

Why does that sound pretty good to you? It was 100% & 4.5% in 2006.

cocktail

GavB79 wrote: »

My house will be on the market within a fortnight. There are several factors as to why.


So, is there any reason I should be nervous?

no, and keep the spirit up. sentiment is everything in the market. though there are a lot of threads about doom and gloom, pessimists rarely win. you seem to be in a relative comfortable position and as long as you do not over stretch you shall be fine.