Now Is The Time To Buy Property!

[cityfan]

Hmmm. I'm still not convinced the market has recovered, considering 2 things.

1. The enormous price rises we've benefited from over the last 10 yrs were obviously not sustainable, hence the drop, but the dramatic rises are still far in excess of the size of the slump we've experienced.
2. As a property insurance broker, we're selling more unoccupied property policies than ever before, and what does that tell you???

[semiproinvestorTim]

I think there may still be a bit of fall left - especially with consumer price index indicating inflation is on the up. Everyone who has been getting away with it because of low interest mortgages will have their back to the wall soon I'm sorry to say.

On the other hand, when prices do start rising for real then there should be a massive surge and we'll be back to the old boom and bust cycle we love so much :-)

[crystal_10]

The world is in crisis and this is probably the time when the prices of all properties have dropped more than ever before. Bearing in mind that most of us have already reached rock bottom, the only way to move forward after having reached rock bottom is to go up. So in other words if we and the economy are going to start to recover and go upwards, then it only stands to reason that the prices of properties will recuperate and also start to go up.
So then, if you are one of the lucky few in the world who still have some savings, money, healthy bank account or even some cash under your mattress this is the time for you. This is the time for any buyer to be able to pick up a good deal. The real estate world can be compared at times to the world of stocks and shares in that you have to know when is the right time to sell and when is the right time to buy.
There will be lots of property owners out there who are going through a really tough time, probably having lost their jobs and so consequently not being able to keep up with their mortgage payments. They are just longing to sell/get rid of their property which they bought several years ago with lots of illusions of having made a good investment. Now on finding themselves in water up to their necks that illusion is no longer so and instead has become a nightmare which they want to get rid of. They will be happy if they just manage to break even which means they would accept selling for exactly the same price as they bought. They have realised that this is no time to think of making a profit on any property that they bought and just to be able to sell and get rid of it and get rid of the commitment of paying a mortgage each month will be very well received.
So obviously all of this lets the buyers out there who, as mentioned before still have some money, know that this is THEIR time. It is the time for you to buy a 4 bedroom villa that was originally going at the asking price of €1.400,000 for the song of €700.000. You can't go wrong because when the economic world gets better this villa will surely go up again in price and if you want to re-sell it again when times get better you can do so and gain a profit or you can just enjoy your villa knowing that you paid one of the lowest prices for a 4 bed villa!
I myself, who has been in the real estate business for the last ten years, curse whenever I see all the fantastic offers that abound everywhere because I don't have any spare cash to be able to snatch up any of these offers. However, if I did have the cash I know that I would be heading to making myself become a very rich lady in the future.
There is a time for selling and there is a time for buying and this is definitely a time for buying. If you are a seller my advice is don't sell at the moment unless you find that is absolutely necessary due to your economic circumstances.

[trevor1]

Hi Guys, I am looking to buy a cheap house in Weybridge or Walton on Thames that needs a lot of work on it and also that can be extended, subject to planning permission
I am hoping to pay between £200 and £300K.
Does anyone know of such a property?

[cnandu]

Anyone know any properties in safe residential areas in Leeds please? Particularly somewhere near Seacroft

Thanks

[OnTheLookOut]

House prices have had a bumpy ride over the last few years, there's no doubt about that. But so has many other investments. Many share prices, for example, are still only about half there value compared with 10 years ago. If house prices fall 5% there is panic in the market, if share prices fall 5% you don't even hear about it.

So if your in the housing market for the mid- to long-term, I believe property is still a great investment. As Corporal Jones in Dad's Army would say "Don't Panic!" If you're in for a short-term profit - hang on if you can. Sometimes we have to change our strategies to fit market conditions.

[Chris Gough]

Your personal circumstances certainly dictate whether it is a good time to buy. If you are buying and selling at the same time it depends on whether you are trading up or down, if you are buying a property of similar value then the costs of buying and selling need to be taken into account.

[gilo]

Hindsight is a good thing nearly 2 years since first post and the market is now going downhill again and will so for a while as the government reduces spending then followed by interest rises?

[Chris Gough]

I could be wrong Gilo but the spending cuts and the like will actually encourage interest rates to remain low. If spending is reduced this should encourage inflation to fall, granted the VAT increase will obviously increase prices but I would like to think the Bank of England consider these one off factors when deciding interest rates. I always find it interesting that some measure of inflation exclude property/mortgage payments, with this being one of the biggest outgoings for most people should mortgage repayments be included in any important measure of inflation?

[donnaphipps49]

It's not a good time to buy when interest levels are low, such as now. Realtors simply lie without pity about this fundamental fact. House prices flower as interest rates go down, and house price ranges will fall when interest rates rise. Since rates of interest have nowhere to visit but up, rates have nowhere to look but down. The right way to win the game should be to have cash available to buy outright an inexpensive property when others are not able to borrow very much as a result of high interest rates.