just exchanged

[N8]

If your property has gone up £x then all it means is that everything else in your area will have gone up similar amounts. A flat where we live has just gone for £100,000 more that we paid for ours 4 years ago but we're never going to see the money unless we choose to move out of London cos everything else comparable in the area has gone up similar prices too.

Yep.....unless you get something on the cheap from dodgy Negs on the back hander or a doer-upper then you'll have to spend what you've made on your next place anyway unless you move down-ladder. I'm selling now at not quite the high (it's already started going down) and hopefully things will be cheaper in a year or two's time. At worst they'll just be the same price so i won't have lost anything. You're lucky Sar, you've got a lovely flat in a nice area so i guess you don't even have to think about moving

 

[Buckley]

If your property has gone up £x then all it means is that everything else in your area will have gone up similar amounts. A flat where we live has just gone for £100,000 more that we paid for ours 4 years ago but we're never going to see the money unless we choose to move out of London cos everything else comparable in the area has gone up similar prices too.

True, but when you're an old bid and you 'downsize' later in life you'll be quids in.

Or you can remortage and free up some that equity to see the world/buy a yacht/spurge on popper*

*delete as appropriate

 

[jjinit]

funny you should say that, this is my 2nd venture into the property market, the first one ended when me & the then mrs jj went our seperate ways, split the profit 50-50 (approx £3k each) and urs truly blew it all on 2 weeks "sur le white island"!!!!

 

[Barbie]

Yep.....unless you get something on the cheap from dodgy Negs on the back hander or a doer-upper then you'll have to spend what you've made on your next place anyway unless you move down-ladder. I'm selling now at not quite the high (it's already started going down) and hopefully things will be cheaper in a year or two's time. At worst they'll just be the same price so i won't have lost anything. You're lucky Sar, you've got a lovely flat in a nice area so i guess you don't even have to think about moving

Why thankyou, your flat is lovely too I didn't realise you were selling it.

 

[Drew]

Yeah, we decided to go for somewhere unique rather than city centre as there's literally 1000's of apartments going up there which will create more competition for future sellers and therefore hold down prices.

On a side note, i know someone in our place who bought 2 apartments off plan, sold them around 2 months later (prior to their completion) and made a cool £60,000 apiece

Jammy Dodger!

 

[jjinit]

Yeah, we decided to go for somewhere unique rather than city centre as there's literally 1000's of apartments going up there which will create more competition for future sellers and therefore hold down prices.

On a side note, i know someone in our place who bought 2 apartments off plan, sold them around 2 months later & before completion and made a cool £60,000 apiece

Jammy Dodger!

buying off plan is a very good idea, you can make loads, there's lot's of new builds going up all the time. Apart from getting a steal, doing it up sensibly then selling it at the top of it's price bracket, buying off plan is prob the most profitable way to do it, involves less work too!!

 

[N8]

Yep.....unless you get something on the cheap from dodgy Negs on the back hander or a doer-upper then you'll have to spend what you've made on your next place anyway unless you move down-ladder. I'm selling now at not quite the high (it's already started going down) and hopefully things will be cheaper in a year or two's time. At worst they'll just be the same price so i won't have lost anything. You're lucky Sar, you've got a lovely flat in a nice area so i guess you don't even have to think about moving

Why thankyou, your flat is lovely too I didn't realise you were selling it.

It's been extra-lovely-fied now as well and loads of stuff shifted to the parents to make it look better Think now is the time to sell to make the most out of it, and i'm not sure what i'm doing living/work wise in the next year or so so it will be a lot less of a burden should i choose to move up north

 

[Barbie]

It's been extra-lovely-fied now as well and loads of stuff shifted to the parents to make it look better Think now is the time to sell to make the most out of it, and i'm not sure what i'm doing living/work wise in the next year or so so it will be a lot less of a burden should i choose to move up north

Good thinking and if a move up north is on the cards, you'll get mucho more for your £££

 

[N8]

It's been extra-lovely-fied now as well and loads of stuff shifted to the parents to make it look better Think now is the time to sell to make the most out of it, and i'm not sure what i'm doing living/work wise in the next year or so so it will be a lot less of a burden should i choose to move up north

Good thinking and if a move up north is on the cards, you'll get mucho more for your £££

Friends and I are having repeated visions of sitting on our balcony's by the river in Leeds

 

[silvia]

We live in a rented flat. We pay our rent and we can save money for a future mortgage. At the moment, we are paying 600€ rent for a very nice and good flat, that money converted into a mortgage would mean a shit hole in a shit area. The same flat would mean probably 1000€ mortgage.

We are not in a hurry of getting married with the bank, altho will do in four years. We know the argument that paying a rent is lost money and bla bla bla but it works for us and our economy

 

[jjinit]

We live in a rented flat. We pay our rent and we can save money for a future mortgage. At the moment, we are paying 600€ rent for a very nice and good flat, that money converted into a mortgage would mean a shit hole in a shit area. The same flat would mean probably 1000€ mortgage.

We are not in a hurry of getting married with the bank, altho will do in four years. We know the argument that paying a rent is lost money and bla bla bla but it works for us and our economy

getting married with the bank??

 

[silvia]

We live in a rented flat. We pay our rent and we can save money for a future mortgage. At the moment, we are paying 600€ rent for a very nice and good flat, that money converted into a mortgage would mean a shit hole in a shit area. The same flat would mean probably 1000€ mortgage.

We are not in a hurry of getting married with the bank, altho will do in four years. We know the argument that paying a rent is lost money and bla bla bla but it works for us and our economy

getting married with the bank??

Yes, a mortgage is like getting married with the bank

 

[jjinit]

We live in a rented flat. We pay our rent and we can save money for a future mortgage. At the moment, we are paying 600€ rent for a very nice and good flat, that money converted into a mortgage would mean a shit hole in a shit area. The same flat would mean probably 1000€ mortgage.

We are not in a hurry of getting married with the bank, altho will do in four years. We know the argument that paying a rent is lost money and bla bla bla but it works for us and our economy

getting married with the bank??

Yes, a mortgage is like getting married with the bank

obviously without the sex??

 

[silvia]

Yes, a mortgage is like getting married with the bank

obviously without the sex??

That depends on your bank advisor

 

[N8]

Yes, a mortgage is like getting married with the bank

obviously without the sex??

That depends on your bank advisor

Wish me luck with my forthcoming divorce

 

[Fronty]

The biggest wind up of all in this area is people think they can buy a place give it a lick of paint sell it 3 months later and make £30,000 its not that easy otherwise everyone myself included would do it.

The big money is on conversions and bTL are very popular at the moment i have a few clients myself that i have built a rapport with who just havent got a pention buy somewhere then let it out then in 20 years time sell take the money then piss off to spain.

obviousley diffrent areas are all diffrent markets but here in the se kent there pretty stagnnant and have been for the last few months.

And thanks to people like trading up and all that crap that was shown 3 years ago people rush down here from london thinking they can buy a 3 bedroom house for 60k

when you say to em no chance they then think ur lying and say well there about ive sene it on the telly !!!!

LOL yeah ill have a look in my special draw for you !!!

 

[N8]

The biggest wind up of all in this area is people think they can buy a place give it a lick of paint sell it 3 months later and make £30,000 its not that easy otherwise everyone myself included would do it.

The big money is on conversions and bTL are very popular at the moment i have a few clients myself that i have built a rapport with who just havent got a pention buy somewhere then let it out then in 20 years time sell take the money then piss off to spain.

obviousley diffrent areas are all diffrent markets but here in the se kent there pretty stagnnant and have been for the last few months.

And thanks to people like trading up and all that crap that was shown 3 years ago people rush down here from london thinking they can buy a 3 bedroom house for 60k

when you say to em no chance they then think ur lying and say well there about ive sene it on the telly !!!!

LOL yeah ill have a look in my special draw for you !!!

You're right there Fronty, those situations are repeating all over the country. FTB's can't afford to and so the BTL market is increasing with the demand for more rental properties.

The market is getting pretty bogged down all accross the SE and spreading to the mids too now.

There's still places out there if you look hard enough...and have a lot of contacts. A friend (manager of an estate agency) and i looked at an apartment in a top factory conversion just last Sat that he was thinking of buying....and even in todays market he could make £10K by selling it straight on again.

 

[Fronty]

Possibly i mean ive work for an estate agent and yeah i have seen maybe 1 or 2 that have potential but i can only speak from expirience and it seems the days of taking back handers etc are gone in this part of the world because there arent many bargains left.

Everybody is overpricing (and i mean by like 10 - 15k)
Everybody is offering silly money i had an offer today on a 3bed flat that was 20k below asking price the asking price was 89.995

and its a dump and needs lot and lots of work but how often do you see a 3 bed flat gor for that price ?????

Sorry it just winds me up sometimes. Here are some tips that work thou !!

1) Just come and have a chat with my collegaue who can talk to you about the cost of moving (FA Referal)

2) We got the keys lets go and have a look XXX dont ask if they want to look tell them

3) let us just pop round your house and have a look and give you our honest opinion all it costs is a cup of tea.

4) Mrs jones you know that house you viewed last week well its sold with another agent so you cant 2nd view but did you know i have to put all offers forward by law ?? so if you was to make an offer i would have to put it forward dont want to break the law now do we ??


Thats what i learnt in the short time ive been a neg but to be honest i love the job and im doing really well !!

 

[N8]

The world of back handers is well alive up here still I wouldn't buy a house any other way Like you said though, there are less bargains but they're still there...but not for long, they move fast as word gets around amonngst all the local managers and negs!

Overpricing is getting silly though, people still think the market is as strong as a year or so ago and that their properties are worth as much, coupled with muppet agents over valuing to get a take-on and we've got loads of places priced too high, see my comments before about the two apartments in my block both 10-15k too high

Good luck!

 

[Fronty]

Overpricing is getting silly though, people still think the market is as strong as a year or so ago and that their properties are worth as much, coupled with muppet agents over valuing to get a take-on and we've got loads of places priced too high, see my comments before about the two apartments in my block both 10-15k too high

Good luck!

Exactly its such a wind up !! you say to them how bout a price reduction since you aint had 1 viewing for 6 months !! LOL

Are you a fellow Neg N8??