Now Is The Time To Buy Property!

[property investor]

I think now is a good time to buy, with the right advice on your property purchase you will make good choices. I read a report at the start of the week that interest rates are likely to rise by the end of the year. This could price people back out of the market, as your deposit has to be larger house prices are rising.

[kims88]

good time to buy as long as you can sell your existing home for a decent price. i was thinking about moving but houses in my street are stuggling to sell at 20% less than they were last year. One neighbour I know had to reduce their asking price four times to attract a buyer.

[Property Cashpoint]

I think it is a good time to buy providing you are comfortable with the price and are confident you are getting a good deal. Some areas are being hit harder than others. So its more important than ever to look at previous sale prices and gauge against current asking prices.

[Ryan Forbes]

There is some excellent bargains out there just now. If buying at the right price then that must offer some amount of protection. In the long term the market will do well! We are currently buying properties all over the country at discount of usually at least 25% Below RICS, even if the market does fall a bit more you still have protection form buying so far under value.

[omostra06]

I agree that it is agood time to buy, but many people will be nervous about buying incase the market falls further,

[mortgage_advisor]

It's always risky, but for some the economic environment will offer opportunities, and for others it wont.

It very much depends on your circumstances. I would recommend over committing yourself though, a if prices do drop again and interest rates do rise, you could find yourself in quite a pickle.

[Travis]

I think it's regional. In the south properties are rising. In the North and further North they are still static. The london area (M25) is becoming more difficult to offer on. In the past 4 months properties have moved from selling quickly even with a big offer to being sold for almost asking price .

Travis

[Condo Star]

to Ricky149 (from may 2009) and all others. It's not a problem realising prices have 'reached the bottom' then started to rise. You won't have missed the boat because that is the perfect time to buy as it's reliable. Hit's the bottom (i.e, can't go any lower) then creeps up - then start buying quick get my logic?'

[Condo Star]

Swings and roundabouts
Anyone advise me on this?
I have 2 mortgages at 2 different rates & can if i wish borrow back my own money on 2nd one (overpayments)
1) have a low rate (2.5% variable) & flat is rented - great (but v small mortgage) so that ones fine at the moment-gives a v good return
2) have a high rate (5.83% fixed 3.5 yrs to go) main home - hard to buy as would just cover the mortgage but no income to be made. Do I buy anyway and hope when rate ends I can get a lower one or just hope capital investment rises and I can make a profit if I sell?
It's a problem as I want to move on with my investments but stuck at the moment. Don't want to get a new loan as 'self-employed' now and that would be impossible - I've checked - even though I'm cash rich
So would be a cash buyer

[an@compoundproperty.com]

Hi there certainly not impossible to get a self employed mortgage. Many of my clients are self employed and have got them the best rates. Have you been advised by a broker?

Also depending who your borrower is will determine whether or not overpayments are allowed if possible.