do-a-bull

Well my house has fallen by about 100k in the past 18 months, and while this is not ideal I am really not that bothered as I'd be happy to be here for many years. Similarly i am considering doing a basement conversion even though this will add to my loss - even possibly making the house even less saleable as it would be larger than most would need. I like to be able to chose the decoration, know that I have security of tenure and a whole load of other factors you don't get when renting. I agree that if you feel you need to move in the next few years and will need to sell, waiting is worthwhile; but if this is not a problem there is never a wrong time to buy IMHO.

I think we're still in the 'denial' phase of the bust before increasing numbers of casual housesellers become increasingly motivated by other factors like a re-location, forced sale then we'll start to see a real slide. I see nothing in the economy to suggest any price rise in the nearterm, and personally feel house prices will decline for the next decade or so.

Hi Susan Tried PM you but you need more posts. What do you want to know?

Yeah - I think we're in for 2-3 more years of falling prices YOY of 10%+. Even then prices will only platau, and it will be many years before prices move upwards in Sheffield again. Thats for houses, as for newbuild flats - don't even go there! With mortgages almost unobtianable affordability and even more modest salery multiples will be irrelevant. If you want to bag a bargain don't worry there is no rush and there will be good deals for several years if anyone can get the finance! I'm a big believer that property is more than an investment - it is your home and if this is your reason for buying then go ahead an enjoy it!

This happened to me too. Don't trust ANYONE to run things unless they offer some form of personal security and even then use a good contract. If things go wrong they will only lose their job, where you could lose your savings / house / security you put in, have your business milked, and them be left with cripling debts for years. You will never hear from your scammer again; and don't even bother with court - it is a joke.

But we're in a declining market and things are unlikely to improve for several years. The CML's proposal will only have a tiny effect on what is becomming a global phenomenon as the credit markets unwind

You need to drop the price and drop it fast if you still want to sell the place! We are fast comming into the holiday season when the market stagnates, and then the autum / winter markets when selling is historically difficult anyway. Times are far from normal in the credit world, and you need to act decisively. A properties' 'value' is only a function of supply and demand and at the moment there ain't any demand. Although no fan of EA's myself you need to heed their advice as they are at the sharp end of the market. Some properties I know have have already changed hands for less than 40% of their 2007 values. It's not going to get any better pal!

We might have a shop comming up on South Road in Walkley but not until the end of October I'm afraid. The rent would be £100pw

I had a few bonfires last year (always after dark) but we have a very unpleasant neighbour who always shouts abuse and calls out the fire brigade so we no longer bother as the whole thing is such an unpleasant experience. I feel angry that we cant have a fire in our own garden without getting abused as the garden is really very large, but this guy is such a fool that I don't trust myself not to stoop to his level and return the insults! Of course he has a bonfire whenever he likes...

I'm no fan of city centre flats but surely its better to see the City being redeveloped than decaying as it was... Not noticed much building on green space thou. Seeing so much redevelpment is a sign of a heathy city - far better than the grim old days of a socialist stronghold.

Yep, haybrook overvalue to get the business then suggest you reduce the price to get a quick sale. Keep the price within 120-140k and you should get a quick sale for this type of house.

I really feel for you as I have a very similar situation. Our neighbour has shouted abuse on several occassions when we have just been doing gardening or work to the house. Although very offensive, I have never responded to it as I don't want the situation to escalate as I have to live next to him but I get very wound up inside as I think the whole point of home is to have a little peace and tranquility!

Our company does this sometimes. There are alot of people doing this now that are quite ruthless and will aim to get your house for at least 25% below market value the key being at least 15% off, as most buy to let mortgages will allow 85% so the house can be bought as a 'no money down' deal as the money is mortgaged back out. However rent backs do allow people to pay off their debts and have fixed outgoings every month without the hassles of rising interest rates, maintanence etc,so will be attractive for some as it will often realese a cash sum too. I can PM you info on the service we offer as we can often go higher than 85% as we are not reliant on mortgages and ideally want people to stay for the long term as it is actually more hassle to have to keep finding new tenants every few years.

I think this is going to become a real problem with city centre flats. There is massive oversupply with new stock being released all the time. 125k is a high price for a 1bed flat when a house in a decent area can still be bought for a similar price. I believe this type of property will become very hard to sell and prices will have to correct a long way before guaranteeing a quick sale. It does show that houses are still very good value in Sheffield IMHO.

Thanks for the contacts I will give them a try.