Low offers is the way to go

bjmaca

I have sat back and read all of ths banter over the past 10 minutes and it amazes me that anyone could possibly think that the market is going to drop by 30-40% if a number of people put in stupid offers. I agree with Reaper and think comments like this are pretty silly.

The only way you can get discounts over 15% is buying off plan and this is on properties that are 1-2 years away from being completed usually for investment. The reason for this is that the developer has built in his profit up front and wants to shift them so he can move on tp the next development. Also it means people will be able to purchase more than one as they can leverage there money. ;D

If anyone can find a person that will accept an offer 30-40% below the asking value (as long as it is the market value) than I will run naked around the M25. (Not a pretty site). :-*

As for interest rates the word on the street is that we will see a slow rise over the next 24 months but base will not go above 5.5% and the market will not crash it will settle but still rise. A market that slowly rises 1% per month is not a bad thing making 12% on your property per year I can live with that.

Enjoy the bickering and fantasy about the big crash. I have ranted enough. Bye... ::)

MarkyMarkD

As for interest rates the word on the street is that we will see a slow rise over the next 24 months but base will not go above 5.5%

That isn't the word on my street, which says that they won't go above 5% (if indeed there is another rise at all) and that they will then level out and gradually decline.

deemy2004

The word on the street changes from month to month.

Not so long ago it was 5.5%, now its saying that they have already peaked at 4.75%, sometime next year who knows what the street will be saying.

Were all taking pot shots at the future, for truth be told, we can all pull on facts to support rates all the way from 4% to 7% by end of next year.

still its not like Britain to have near 10 years of growth with out a bust ! Not like Britain at ALL ! Low inflation, low interest rates, low unemployment, high growth, I must be living in Japan of the 80's ! ;D

clarkey_2

Glad you used the ;D Of course the interesting thing about Japan in the 80s was that the Imperial Palace grounds in Tokyo were valued at more than all the land in Canada!

http://www.findarticles.com/p/articles/mi_m1568/is_n3_v25/ai_13909564

Although it's US centric, this article is pretty good

http://www.sfgate.com/cgi-bin/article.cgi?file=/gate/archive/2004/08/03/carollloyd.DTL

deemy2004

Glad you used the  ;D Of course the interesting thing about Japan in the 80s was that the Imperial Palace grounds in Tokyo were valued at more than all the land in Canada!

http://www.findarticles.com/p/articles/mi_m1568/is_n3_v25/ai_13909564

Although it's US centric, this article is pretty good

http://www.sfgate.com/cgi-bin/article.cgi?file=/gate/archive/2004/08/03/carollloyd.DTL

Crazy times in deed !

The value of Tokyo was more than the whole of the United States ! And there was all the talk about Japan buying up USA, which it could afford to do ! i.e. borrowing against the value of Japanese real estate to gobble up companies (mainly in the USA), that is until the bubble burst.

A lesson for all those lookign for a UK property soft landing, as we see UK citizens going all  around Europe buying up real estate

Location, location, location - what the hell are they doing in Kazakstan

dippy

All markets are zero-sum games. Where is the money coming from to fund the increases in house prices, to pay the salary for all these estate agents at the corner of every street, their plasma screens and their sports cars????? We know how much money is being bled away by those parasites, but where is the money going to come from to fund another 10 years of 20% year on year increases (supposing there is a small fall but increases in the long term as people hope)?