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Debate House Prices
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Live Auction of Property in North West 1400 today
Comments
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One of the imaginary town centre apartments i have been lying about is going to auction next month with a reserve of 27k.
Its a 1 bed so was probably one of the ones that was 85k when they were built during the boom.
Nobody wants it at its asking price of 35k now so i cant see anybody fighting over it at auction.
Is it on rightmove at the moment? I'd be interested to see a linky please, either here or by pm if u prefer.No reliance should be placed on the above! Absolutely none, do you hear?0 -
Its an auction at the end of the day and you can expect extremes...especially in difficult economic times..
Prices in the North have fallen just like anywhere else...in our area I'd say around 20% from peak...anyone thinking the North is a bombsite..its not...theres plenty of desirable places to live and very good investments...
I agree with an earlier post about being ultra cautious about buying to let...just because its cheap doesnt mean you'll have a decent income...you might get next to nothing...and more problems than you can cope with..
Theres been a few stories on TV about investment companies packaging rundown property onto naive investors...during the boom...all thinking the rental yield would be well above average...
Turned out they couldnt give them away...0
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