What's the housing market like at the moment?

[JJimmysturo 10]

I think now is the time to buy if you got cash there are plently of repossesions going cheap

[Cyclone 10]

I think now is the time to buy if you got cash there are plently of repossesions going cheap

 

While prices are falling and repossessions are still going up, doesn't sound like great advice to me.

[Tony 10]

You and I don't often disagree but come on Cyclone. There are all sorts of reasons why people want to buy a house and hanging on because of 'increased repossessions' isn't good advice.

 

If you want somewhere to live and you can afford it go and buy a house when it suits you. Anyone that can get a mortgage right must be well placed and should have no issues with value or repayment.

 

Anyone who expects to make a quick buck is automatically filtered out of the market right now so that must be good news for those who get through the filter.

[Cyclone 10]

True, if you're buying to live in it then now is as good a time as any. But that wasn't what Jjimmy was saying.

He said buy now because "there are plently of repossesions going cheap".

 

Well in 6 months time there will be even more and they'll be going even cheaper. You don't buy a commodity as an investment when it's falling in value.

 

In the telegraph today, price change compared to a year ago today, S6 is down 0.7% or thereabouts, quite a few other sheffield post codes listed.

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/04/12/nhouse112.xml

[Phylis 10]

True, if you're buying to live in it then now is as good a time as any. But that wasn't what Jjimmy was saying.

He said buy now because "there are plently of repossesions going cheap".

 

Well in 6 months time there will be even more and they'll be going even cheaper. You don't buy a commodity as an investment when it's falling in value.

 

In the telegraph today, price change compared to a year ago today, S6 is down 0.7% or thereabouts, quite a few other sheffield post codes listed.

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/04/12/nhouse112.xml

 

There are also plenty of houses in S6 which have gone up in value compared to a year ago. S6 is a huge area of Sheffield. It covers from Foxhill right across out through Rivelin valley including Stannington and beyond. An average means some have gone above some below and some are as was.

[sham71 10]

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/14/cnmortgage114.xml

 

a little known clause in buy to let mortgages, that as values fall, the lenders expect the landlord to pay a lump sum to get the loan to value back to 85% when they remortgage.

 

anyone with a buy to let mortgage on a city centre flat is going to have to dig deep for this I think.

[nickyboyzuk 10]

We've been trying to sell for 6 months up here in S10. We've found our dream home out in the Peaks, but just can't shift our current house. It doesn't help that the builders of the new house won't consider an offer.

 

Oh, I've also just been told that a mortgage deal that I was considering has just had the arrangement fee increased from £399 to £1000. So they pass on the 0.25% reduction on the rate and then ramp up the fee instead.

 

Nothing changes!

[Cyclone 10]

There are also plenty of houses in S6 which have gone up in value compared to a year ago. S6 is a huge area of Sheffield. It covers from Foxhill right across out through Rivelin valley including Stannington and beyond. An average means some have gone above some below and some are as was.

 

Do you want some sort of award for stating the obvious. We all know what an average in, and on average the value in S6 has fallen since this time last year.

When will you actually accept that house prices are currently falling. Everyone else in the country understands it now and you just keep trying to play word games around what average means.

[blueandwhite 10]

Do you want some sort of award for stating the obvious. We all know what an average in, and on average the value in S6 has fallen since this time last year.

When will you actually accept that house prices are currently falling. Everyone else in the country understands it now and you just keep trying to play word games around what average means.[/QUOT

 

Thats way im not rushing in the market.

[Phylis 10]

Do you want some sort of award for stating the obvious. We all know what an average in, and on average the value in S6 has fallen since this time last year.

When will you actually accept that house prices are currently falling. Everyone else in the country understands it now and you just keep trying to play word games around what average means.

 

Do you want an award for copying every story told in the newspapers? It is fair to say on average prices are falling around the country so at the other end of the spectrum some are not.

[sham71 10]

It is fair to say on average prices are falling around the country so at the other end of the spectrum some are not.

 

what on earth does that mean?

 

prices have risen on average over the last 10 years, please point out which areas at the other end of the spectrum actually fell?

 

or does your absurd law of averages only work on the way down?

[Phylis 10]

what on earth does that mean?

 

prices have risen on average over the last 10 years, please point out which areas at the other end of the spectrum actually fell?

 

or does your absurd law of averages only work on the way down?

 

You will find that certain places in the country have fallen. Areas in Salford have fallen as houses are boarded up and others in an area demolished so yes some have fallen over the last 10 years.