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Debate House Prices
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Rightmove asking prices UP +1.2%
Comments
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IveSeenTheLight wrote: »If a returned valuation concurs with the new price, what is wrong with this marketing ploy of ensuring that more potential buyers can meet the mortgage requirements?
Because what, in effect, the vendor is trying to do is to get the purchaser a 100% mortgage... which in turn means that they will have no (or probably very soon negative) equity.... precisely the problem the Building Societies are now trying to avoid!“A journey is best measured in friends, not in miles.”
(Tim Cahill)0 -
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I'll try to behave more aggressively and rude in future that will make me appear more male.
or at least more like a HPI cheerleader.It's a health benefit ...0 -
Report is out now:
http://www.gm.tv/media/adobe/0/s/Rightmove_House_Price_Index_19th_May_2008.pdfMiles Shipside, commercial director of Rightmove comments: “New sellers can see the storm clouds overhead but seem to believe it’s only raining on other people. The reality is it started raining last September, and has reached storm force in the last month. Sellers who are hanging out to achieve last year’s prices need to accept that the market has fallen and that they will end up being punished in the long-run."poppy100 -
i want £5000 for my apple. =..headline apples now cost £5000
foolsIt is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Because what, in effect, the vendor is trying to do is to get the purchaser a 100% mortgage... which in turn means that they will have no (or probably very soon negative) equity.... precisely the problem the Building Societies are now trying to avoid!
No, I said "If a returned valuation concurs with the new price"
This means that they are getting a 95% mortgage.
95% Mortgages will only allow 95% of a valuation OR purchase price, whichever is lower.
If a returned valuation concurs with the new price then the buyer gets the mortgage at both 95% of the valuation and ensures that they do not need to get an even bigger deposit in order to maintain 95% of the purchase price.
In short it means they can still buy without the 5% deposit, but that this is deducted from the purchase price.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
it's because you're so kind and clever.... I just revert to thinking that must make you a woman! 
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