House Prices Now At 2004 Levels
I done some plastering to a bungalow in gosforth a few year ago. Its the best street to buy a property if you want one in this area. It was actually a summer house at the bottom of the garden that someone had built specifically for parties and it was 5000square foot 
The main house is fecking huge and the garage is bigger than my house. Someone actually came to look at the summerhouse/bungalow when it looked like an 80's **** stars house and it was on the market for £750k but he refused to buy it, my mate bought it on a cheeky offer for £480k and spent £200k doing it up. He then sold it to the person who viewed it above and for £1.2m within the space of 9 months. If the buyer had the sense to realise this dump could of been turned into a quality property he could of saved himself say £400k 
The main house is fecking huge and the garage is bigger than my house. Someone actually came to look at the summerhouse/bungalow when it looked like an 80's **** stars house and it was on the market for £750k but he refused to buy it, my mate bought it on a cheeky offer for £480k and spent £200k doing it up. He then sold it to the person who viewed it above and for £1.2m within the space of 9 months. If the buyer had the sense to realise this dump could of been turned into a quality property he could of saved himself say £400k
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Prime property, priced right, will sell within a day on the open market. I know, I would buy it!
I have bought a property (over 20 years ago now) which I thought was a bargain as I knocked the price low and ignored the gut feeling which yelled DON'T BUY!!! ...................... result? hated the place from day one, took 8 years to get out of it!
Bought other properties where I had to beat others to buy and they have been the best places I have owned .... and, been the ones which have a queue to buy when I sold (to a point where you go to sealed bids).
Been buying and selling since way back and the rule has held true on every single occassion ... buy what others want, but beat them to it.
I have bought a property (over 20 years ago now) which I thought was a bargain as I knocked the price low and ignored the gut feeling which yelled DON'T BUY!!! ...................... result? hated the place from day one, took 8 years to get out of it!
Bought other properties where I had to beat others to buy and they have been the best places I have owned .... and, been the ones which have a queue to buy when I sold (to a point where you go to sealed bids).
Been buying and selling since way back and the rule has held true on every single occassion ... buy what others want, but beat them to it.
Good property appears at auction, and your local knowledge means that you may see the potential in a desirable but neglected property that others don't.
The other way to do it is to slip the EA a brown envelope for off market property ie probate stuff (still on very desirable property though)
Your approach seems to be to compete on the open market, and then pay more than anybody else is prepared to in order to get it. Fine in a rising market, but not now, a seriously flawed approach imho
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You make a few amazing statements there ..... "I haven't made a lot of money from property and am not rich"
How much is a lot of money?
and what denotes 'rich'?
Being retired is no block to still speculating.
Maybe I like to buy quality property and take less profit?
How much is a lot of money?
and what denotes 'rich'?
Being retired is no block to still speculating.
Maybe I like to buy quality property and take less profit?
That is the main prob! Most discounted properties are from the lesser end of the market. Quality properties in the best areas just ain't moving too quick as most aren't bothered.
People only sell at a discount when they are forced to. Who do you know that has been repossed or forced to sell at a discont????
I don't know anyone??? do you ???
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You make a few amazing statements there ..... "I haven't made a lot of money from property and am not rich"
How much is a lot of money?
and what denotes 'rich'?
Being retired is no block to still speculating.
Maybe I like to buy quality property and take less profit?
How much is a lot of money?
and what denotes 'rich'?
Being retired is no block to still speculating.
Maybe I like to buy quality property and take less profit?
You would have kept the very good stuff and traded the rest to give you the million in the bank.
This denotes to me good trading over 15 ish years and in
My eyes would be a lot of money and make you rich
If you 'like to buy quality property and take less profit' implies you think with your heart and not your brain and is no way to run a business.
Any small profits you have made have probably been in a rising market, not applicable now
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Phew! " .. House prices have only 10% left to fall before the housing market bottoms out, economists have predicted ... ". (From House Prices Have Only 10% Left to Fall Before The Housing Market Reaches Rock Bottom, Experts Say | Business | Sky News ).
'Economists' have predicted this so it must be true. Especially as they all predicted the current recession .....
Dave
'Economists' have predicted this so it must be true. Especially as they all predicted the current recession .....
Dave
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From: 32 cylinders and many cats
He wasn't dead in 1929.
These guys aren't dead now:
"The subprime mess is grave but largely contained" - Federal Reserve Chairman, Ben Bernanke May 17 2007, Speech before the Federal Reserve Bank of Chicago
"This is far and away the strongest global economy I’ve seen in my business lifetime."- Henry Paulson, US Treasury Secretary, July 12th, 2007
"The market impact of the U.S. subprime mortgage fallout is largely contained and the global economy is as strong as it has been in decades." - Henry Paulson, August 2007
These guys aren't dead now:
"The subprime mess is grave but largely contained" - Federal Reserve Chairman, Ben Bernanke May 17 2007, Speech before the Federal Reserve Bank of Chicago
"This is far and away the strongest global economy I’ve seen in my business lifetime."- Henry Paulson, US Treasury Secretary, July 12th, 2007
"The market impact of the U.S. subprime mortgage fallout is largely contained and the global economy is as strong as it has been in decades." - Henry Paulson, August 2007
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Successfully trading for over say 15 years should have given you a million in cash in the bank and then a couple of million worth of assets.
You would have kept the very good stuff and traded the rest to give you the million in the bank.
This denotes to me good trading over 15 ish years and in
My eyes would be a lot of money and make you rich.
I would say people who achieve this are very few and far between .
And would not be quite as easy as you make it sound ,otherwise we would all be Rich .IMO.
You would have kept the very good stuff and traded the rest to give you the million in the bank.
This denotes to me good trading over 15 ish years and in
My eyes would be a lot of money and make you rich.
I would say people who achieve this are very few and far between .
And would not be quite as easy as you make it sound ,otherwise we would all be Rich .IMO.
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Nothing amazing about my statements. Successfully trading for over say 15 years should have given you a million in cash in the bank and then a couple of million worth of assets.
You would have kept the very good stuff and traded the rest to give you the million in the bank.
This denotes to me good trading over 15 ish years and in
My eyes would be a lot of money and make you rich
If you 'like to buy quality property and take less profit' implies you think with your heart and not your brain and is no way to run a business.
Any small profits you have made have probably been in a rising market, not applicable now
You would have kept the very good stuff and traded the rest to give you the million in the bank.
This denotes to me good trading over 15 ish years and in
My eyes would be a lot of money and make you rich
If you 'like to buy quality property and take less profit' implies you think with your heart and not your brain and is no way to run a business.
Any small profits you have made have probably been in a rising market, not applicable now
Maybe, just maybe, I'm a great success in your book then?
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From: Flying the Flag for the GC8A
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You imply that you have traded property over many years, but read between the lines and you have the air of an amateur. You may, just may, have made a few quid in a rising market, but then any idiot can do that
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Pete has never substantiated or backed up any claims he has made on here other than getting his money back for buying a crap LG telly. He's never entered into a debate about any comment or claim he has made either or defended any point or claim with any evidence or structured argument other than copy/pasted "evidence" from Google.
It's long established that he does not have the knowledge or skill to enter into any such debate further than posting an initial provocative statement.
The essence of trolling.
Conversely though, it doesn't mean he hasn't done what he claims, no-one has to back up everything they say but it does mean that his comment is taken with a pinch of salt by all the regulars and bears only the lightest feather-weight of authority which is a shame as it's sad to see someone so obviously wanting to be heard being pretty much ignored in any serious sense or matters.
It's long established that he does not have the knowledge or skill to enter into any such debate further than posting an initial provocative statement.
The essence of trolling.
Conversely though, it doesn't mean he hasn't done what he claims, no-one has to back up everything they say but it does mean that his comment is taken with a pinch of salt by all the regulars and bears only the lightest feather-weight of authority which is a shame as it's sad to see someone so obviously wanting to be heard being pretty much ignored in any serious sense or matters.
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There are more than a few ways to skin a cat ... as there are many ways to make money in property.
Let's see now ...
1. Buy a wreck, do it up, sell .. if done right then you will make money.
2. Buy a quality house, use it for as long as you wish, sell .. if done right then you will make money.
3. Buy land, build house, sell .. if done right then you will make money.
4. Buy home in Student Street, rent, sell .. if done right then you will make money.
5. Buy home, rent it out, sell .. if done right then you will make money.
6. Buy property in Holiday location, rent through Cottages4U, sell .. if done right then you will make money.
Just a few I can think of .. if done right then you will make money.
I think it won't be till after june before we see the market improving to say februarys figures
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I have had the same feeling over the last week or so .... lots of property which had 'sold' have re-appeared again!
Now, the Agents are telling me that it is due to lending restrictions - could be true - but, I think it is due to the valuations coming in way below the agreed prices.
Now, the Agents are telling me that it is due to lending restrictions - could be true - but, I think it is due to the valuations coming in way below the agreed prices.
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Funny statement?
There are more than a few ways to skin a cat ... as there are many ways to make money in property.
Let's see now ...
1. Buy a wreck, do it up, sell .. if done right then you will make money.
2. Buy a quality house, use it for as long as you wish, sell .. if done right then you will make money.
3. Buy land, build house, sell .. if done right then you will make money.
4. Buy home in Student Street, rent, sell .. if done right then you will make money.
5. Buy home, rent it out, sell .. if done right then you will make money.
6. Buy property in Holiday location, rent through Cottages4U, sell .. if done right then you will make money.
Just a few I can think of .. if done right then you will make money.
There are more than a few ways to skin a cat ... as there are many ways to make money in property.
Let's see now ...
1. Buy a wreck, do it up, sell .. if done right then you will make money.
2. Buy a quality house, use it for as long as you wish, sell .. if done right then you will make money.
3. Buy land, build house, sell .. if done right then you will make money.
4. Buy home in Student Street, rent, sell .. if done right then you will make money.
5. Buy home, rent it out, sell .. if done right then you will make money.
6. Buy property in Holiday location, rent through Cottages4U, sell .. if done right then you will make money.
Just a few I can think of .. if done right then you will make money.
Most of your scenarios involve owning real estate in a rising market hence making some money. This is not the same as trading property. I would have thought you would have realised that after your decades of experience of the latter.
Btw, trading up from a 2 bed terrace to a 3 bed semi does not qualify as property trading
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BBC NEWS | Business | Surveyors report market momentum
Looking up, or is this just a blip to catch the wary and impatient?
Looking up, or is this just a blip to catch the wary and impatient?
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From: Surrey/London borders.
Prices dropping so some people can now dip their toes.
Where I'm looking to buy loads of houses are going under offer really quickly. But only thoses priced properly. A fair few are then coming back on the market soon after too...
Where I'm looking to buy loads of houses are going under offer really quickly. But only thoses priced properly. A fair few are then coming back on the market soon after too...
