Little bit of goss

Turnbull2000

mr.broderick wrote: »

Really? Wow you've got some balls.

I'll buy my own property empire, and as we'll have learnt lessons from the devastating crash we're now quite clearly experiencing, a new paradigm will evolve and prices will rise FOREVER. The City boys will be squealing when word gets out from this forum.

:beer:

Snow_Dog

mr.broderick wrote: »

Little bit of goss from the local watering hole this evening.
A block of 4 terraced houses that were built in january from old stone which are situated on the main street in the village centre have been sold yesterday. They were on with the same agent since january at 149950. There have been apparently lots of viewings but not one of them sold. I drive past them every day and they have been a constant point of conversation in the local.
Anyhow they have sold for £134k each. I dont know who's bought them but a young lad who temps in the estate agent told us the news this evening. Interesting stuff.

No, Generali and Dolce, you got it wrong, this is interesting, it obviously points out to a market on the move again, properties that have stuck for a while have now started selling, and just when we all thought it was looking bleak, perhaps we are in for a new year bounce:D

Thankyou Mr B for bringing us some good news:T, hold on to your hats HPI here we come again;)

:rotfl::rotfl::rotfl::rotfl::rotfl:

Strapped

What? Someone bought a new build for about 10% below it's asking price? Well, I never!

terrierlady

wonder if its the developers half year end ?

mr.broderick

Little bit of an update on this, these houses are going to be rented out for £600 a month, they have been finished to a high standard to be fair. Private rental around here seems to be a booming business at the moment, must be all the str's?

mr.broderick

Snow_Dog wrote: »

No, Generali and Dolce, you got it wrong, this is interesting, it obviously points out to a market on the move again, properties that have stuck for a while have now started selling, and just when we all thought it was looking bleak, perhaps we are in for a new year bounce:D

Thankyou Mr B for bringing us some good news:T, hold on to your hats HPI here we come again;)

:rotfl::rotfl::rotfl::rotfl::rotfl:

These houses would have sold for asking price round here 18 months ago, i think a 16k under asking doesnt sound like a new year bounce snow but who knows you may be right.

IveSeenTheLight

mr.broderick wrote: »

Little bit of goss from the local watering hole this evening.
A block of 4 terraced houses that were built in january from old stone which are situated on the main street in the village centre have been sold yesterday. They were on with the same agent since january at 149950. There have been apparently lots of viewings but not one of them sold. I drive past them every day and they have been a constant point of conversation in the local.
Anyhow they have sold for £134k each. I dont know who's bought them but a young lad who temps in the estate agent told us the news this evening. Interesting stuff.

With all the properties going at the same time, seems to me that these are BTL.

Little bit of an update on this, these houses are going to be rented out for £600 a month, they have been finished to a high standard to be fair. Private rental around here seems to be a booming business at the moment, must be all the str's?

Seems so.

However with the mortgage of £134,000, the £600 per month rent wont cover the Interest for approx 14 months and the C&I payments would be approx £845 per month.

Sounds like this investor is looking for a longer time return on their investment