Difficult to call the housing market, people have been trying for years and more get it wrong than not. The best way is to look at your situation, do you have a shedload of cash sitting around waiting for a property to buy, then stick it in a high interest savings account for a year, and then buy. If you are selling then buying, that has many factors in it, but the main thing is that your place should correlate to the place you are buying, so it doesnt really matter when you buy/sell
456K payback on 180 looks like an interest only over 25 years, paying back the full principle at the end of the term, the most expensive way, cos you are paying 25 years of interest on the full amount, and on a 6.1% interest rate, which sounds high for current deals. If you have a repayment rate, and possibly a lower rate (say 5.5%) then you would be paying back 335,400 at the end of the 25 years. Make it a 15 year payback and it costs you £267K.
Sherrie from the service I have received from Estate Agents in the past I would rather sell my property myself than be lied and cheated to by a sharp suited shark.I have bought and sold several properties and never once has an agent been in attendance with a viewing, I have a friend who is a licenced conveyancer and I’m quite sure I can agree a price with a potential cistomer/vendor without having my hand held.I have been a landlord and managed that all by myself too. It aint rocket science. In fact IMO it’s money for old rope. Nothing personal hun, I’m sure you were very professional, unlike most I know;)
Johhny Zero and Shewoolf, since you are both ex-estate agents I wonder if you could answer one question for me? Did you ever tell someone who wanted to view/ make an offer on a property that it was sold/ off the market when it wasn’t? I’m looking to buy at the moment and a few times I’ve called up about advertised properties and had this sort of response…
Me: ‘Hello, I’d like to arrange a viewing of 241 Wisteria Drive’
EA: ‘erm, let me check if that one’s still available…(pause)…er hang on I’ll just ask my colleague…(pause)…oh…it’s under offer…erm off the market…err…sold…I think…er…yes its sold’
Me: ‘Oh, it’s only that it has only just appeared on your website and I drove past it today and the for sale sign is still up…’
EA: ‘Ah, yes it was…er…sold this morning…er…to a developer’
I accept that some properties sell like hot cakes but I sometimes feel suspicious that I may not be being told the whole truth:). Is it possible that some EA’s advertise a house as a ‘sprat to catch a makerel’ or to test the market. I don’t know how this could work in practice- but is it feasible?
Chunky - Not all people are as well versed as you in buying and selling and happen to have licenced conveyancers as buddies. Don’t forget that
I have never told anybody that something is sold if is hasn’t. It’s not providing a good service to the client (the person selling). If the For Sale board is up, go and knock on the door and ask them if it’s still available. If that seems too agressive, post a letter leaving your contact info. If you make an offer on a property - even if that property has gone under offer, the agent is legaly obliged to present that offer to the vendor.
I once had an estate agent not tell me that my buyer had witdrawn their offer:w00t:I only found out after I hadn’t heard anything after a month, and I had the buyers phone number.:hehe:I was sitting there, foolishly thinking I’d sold my house:crazy:
i used to live on greenland dock with views of canaray wharf 'n all that, the owner wanted the same price for a tiny one bed as i paid for a two bed 10 mins down the road
this place had better be amazing to be worth 238k for a one bed, sounds risky right now
for not much more you could get a three bed with garage and garden outside london
good luck to you though
(we want to move out, love the city but had enough of flats and rude peeps and thieving scum)
Yes they do Grim - but most people don’t actualy understand an estate agents role in a transaction and who they work for. Many buyers make the mistake of thinking the estate agents works for them and it’s just not the case unless they are retained. Don’t get me wrong - there are some are utter scum out there but there are good agents out there too.
The same cannot be said for traffice wardens - they’re all scum
Yeah mate, its pretty good, nice and big, secure private underground parking for the bikes river views. Not to far from greenland dock. They have now extended the ferry service to the O2 which is handy for the boxing and some gigs. I should hear today if my offer has been accepted.
