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Time to grab some property bargains?

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    Time to grab some property bargains?

    http://www.telegraph.co.uk/money/mai...p04.xml&page=2

    Ray Boulger, of mortgage broker John Charcol, says that if you are a first-time buyer or have nothing to sell you can be picky on price. He suggests that if a property is listed at £300,000 then it's worth putting in an offer of £249,999 or £275,000.

    "There is no such thing as a silly offer. We had a client looking at a £1m property who put in an offer for £800,000. It was rejected at first before the vendor came back with a figure of £900,000 that day. A week on, the £800,000 bid was accepted.''


    So prices are already realistically down 20% of asking price.

    Question is, wade in now or wait another 12 months and get them 1/2 price.

    #2
    5 year wait me thinks !

    Comment


      #3
      I believe deals like that not reflected in official house price figures? don't they just measure asking price rather than actual price?

      I am talking about Wollwich/Haslifax rather than land registry...

      Comment


        #4
        I would park the money in shares, which aren't going down since a month or two, and wait for the pound and house prices to drop. The housing market is much slower than than stock markets.
        I'm alright Jack

        Comment


          #5
          It could be the short term financial uncertainty/redundancy feel-bad factor kicking which is leading to an acceleration on perceived property value.

          In which case wait for 5 months.
          If you think my attitude stinks, you should smell my fingers.

          Comment


            #6
            The best investment anyone can make now is a subscription to the "Estates Gazette".

            House Auctions aplenty..... no need for dealing with estate agents or with long winded drawn out selling chains. Fast track your way into a property at a knock down price.

            http://www.magazine-stand.co.uk/maga...1857862&cmp=JF

            Comment


              #7
              Originally posted by minsky1 View Post
              The best investment anyone can make now is a subscription to the "Estates Gazette".

              House Auctions aplenty..... no need for dealing with estate agents or with long winded drawn out selling chains. Fast track your way into a property at a knock down price.

              http://www.magazine-stand.co.uk/maga...1857862&cmp=JF

              Isn't it a bit early in the cycle for that? no-one even knows the banks' liabilities to the credit instruments yet.

              Comment


                #8
                Originally posted by BrilloPad View Post
                I believe deals like that not reflected in official house price figures? don't they just measure asking price rather than actual price?

                I am talking about Wollwich/Haslifax rather than land registry...
                AIUI its the purchase price on completed mortgages, not the asking price

                Comment


                  #9
                  Rightmove index is on asking price.
                  Land registry is on selling price.
                  Nationwide and Halifax is on mortgage valuations (I think).

                  Comment


                    #10
                    BP = Voice of reason

                    Originally posted by BrilloPad View Post
                    Isn't it a bit early in the cycle for that? no-one even knows the banks' liabilities to the credit instruments yet.
                    Thanks for that mate - I'm glad someone has got any sense left here, seems like tWAt left and lots of others are trying to fill the gap. Can't see why someone would drop £ 200k in such a short space of time (as quoted by DP).

                    Comment

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