There is a new close of houses just round the corner from us. they are 6 months old . My wife and I had a walk round there yesterday, NOT ONE has been sold . 12 new homes with grass 2 foot high on the front lawn and numerous garden gates banging in the wind. It was like being in an eerie ghost town. There has been a post office conversion to 4 flats 500yards from our home , costing £105,000 and not one of those has sold either. Its looking bad for property sales "MO"
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Its better to regret things you,ve done then things you havent.... But , Never regret Growing old Because some people never have the privilege.
There is a new close of houses just round the corner from us. they are 6 months old . My wife and I had a walk round there yesterday, NOT ONE has been sold . 12 new homes with grass 2 foot high on the front lawn and numerous garden gates banging in the wind. It was like being in an eerie ghost town. There has been a post office conversion to 4 flats 500yards from our home , costing £105,000 and not one of those has sold either. Its looking bad for property sales "MO"
Might look around the south coast area when I escape...some good bargains to be had then?
Well the only houses that I know of that have sold are people that have sold to cash buyers, the situation on both the occasions has been that kids have flown the nest some years ago and they are down sizing !! Apart from that no houses selling, I havent even had a viewer yet.
I still hold on to the fact that a house is only worth what you are willing to pay for it, I love where we are and would have stretched if need be to secure it.
My friend works in a bank and she said more business is coming there way as other banks/building socities are not lending like they used too.
I dont think as yet that we are back to how bad it was with lots of reposessions, all I do know is that lots of lenders (banks for loans) are calling their money back in !!
Anyway have a nice 4 bed if anyone out there is intereted
The Nationwide report today suggested that the majority of the slow down relates to people not moving rather than 1st time buyers.Despite the credit crunch 1st time buyers are still getting finance. For that to work there must be quite a few people selling at the bottom level and sticking the money in the bank rather than going up the chain.
People aren't moving rather than houses being reposssed, unlike previously where people were thrown out of their houses. So long as this doesn't start happening and the supply side remaining weak (which is being illustrated with fewer new development starting) then the prices won't 'crash' but reduce slowly/stagnate.
The lack of people not moving also ndicates that there are a lot of people waiting to see what happens over the rest of the year.
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Thats half the problem too as people down the lower end of the chain are selling and as you say putting their money into a bank, as they are hoping for prices to drop dramatically (due to some press releases) then they can wave their cash buyer notes in front of you and drop you a fair few grand !!
There is a new close of houses just round the corner from us. they are 6 months old . My wife and I had a walk round there yesterday, NOT ONE has been sold . 12 new homes with grass 2 foot high on the front lawn and numerous garden gates banging in the wind. It was like being in an eerie ghost town. There has been a post office conversion to 4 flats 500yards from our home , costing £105,000 and not one of those has sold either. Its looking bad for property sales "MO"
Same thing in Blackburn! a new estate has been empty for over 6 months not one house sold. They have a chainlink fence running around it.
So to me they have no intension of selling them and are waiting for prices to pick up! nice to have the money to that.
Geoffrey
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Kind Regards
Geoffrey (32, an aussie!!), Tracy (35), Jake (7), Jessica (2) & Joseph (1) :jiggy:
