 If they credit crunch has resulted in a fall in house/property prices, why is this a bad thing? |
I have noted that a recent result of the global credit crunch is its affects on the property market.
I have learned that house prices have fallen recently.
However isnt this a ... |
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 I need a 1 BR in San Diego for less than $700? |
| Does anybody know of a 1 BR apartment in southern San Diego for less than $700?... |
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 Foreclosure vs bankruptcy? |
| I have a house in CA and my primary home is in TN.What will happen if I have to forclose on home in CA, will I lose my cars? my primary home? and No I did not use anything such as my cars now or my ... |
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 Starting a career in real estate...? |
| I am thinking of starting a career in real estate. I know the housing market is in a state of decline and credit standards are becoming tight. As a result, commissions are going to take a dive for ... |
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 Question about my condo? |
| Our condo building is very nice, but the walls in the stairwell have gotten dirty over the last three years--the paint on the walls is a flat paint-basic that can't be cleaned by wiping the ... |
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 How to stop a foreclosure? |
| I was diagnosised with cancer in April of this year and have to undergo to different surgeries thus causing me to lose my income. Due to the excessive medical bills we are currently behind on our ... |
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 Help, how much roughly will I need to pay to rent? |
When I will start my apprentiship I should be earning at the least £10,000 a year but thats not including tax etc.
Me and a friend earning very similar want to start renting a flat but were not ... |
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 Re-Financing Mortgage-Why do i need a Apprasial? |
| I am comptley lost on mortgage issues. We are trying to refinance our motrage and they said we need an apprasial. Why do we need it? They said it costs $375 to get this. Why is it so much? Is it ... |
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 Mortgage loan approval? |
| When applying for a mortgage loan, and you are approved for 150k and the house you want to purchase is 130k, can they still loan you the balance of 20k (for like painting or furnishing the house) or ... |
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 Any suggestions on how to leagally irritate non paying bums to get them to leave a property? |
| They have been living there since Oct and it was actually sold to them on a land contract so in Michigan they have 90 days to get out. We received that info yesterday at court. We will lose the house ... |
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 Is it a requirement in PA that a landlord must repaint the apartment for new tenants? |
| our apartment has some major holes and exposed brick, rusty heaters,dirty carpets and yellowish stains on the celling. We just moved in, the house was build in 60th(lead paint was used); the landlord ... |
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 Does this sound okay? |
| My husband and I are looking at houses because we are expecting our first child and our little 2 bedroom house is too small! However, we do not have enough money for a down payment. So we were ... |
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 Help! Landlord wont give deposit back!? |
| I need your guys help, We've "checked out" of our unit, agent confirmed no damages etc, we have paid all our bills up etc, but now our landlord has disappeared and wont return our ... |
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 Is there a better way to get a mortgage than going through a bank? |
| I don't feel that my credit score accurately reflects my credit worthiness. Where can I find a lender that reads in between the lines?... |
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| If I buy a house by 95%mortgage, can I make conversion in my house within the first year of pay back my mort? |
| I am a first time buyer, so will I face any barriers to the mortgage supplier when I convert my house before i pay back all the mortgage?... |
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 How can i evict someone from my own apartment? |
i live in los angeles. i don't expect the evictee to be violent.
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in california there is a law preventing people from being kicked out of a place that they have ... |
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 Can my landlord throw me out if I dont sign a new lease? |
| I live in New York and I am not to sure If I want to stay in my apartment. I am not ready top move but I dont want to be stuck for here for another year. Can he tell me I have to move if I dont sign ... |
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 Can my landlord kick me out for having sex? |
| I rent a room in a woman's suburban house in Missouri on a monthly basis, and the other day she asked me to not have sex in her house anymore. I asked if she just wanted me to keep it down, and ... |
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nick g | The housing market has CRASHED - can prices fall by 40%? |
I just had to wipe 25% off my 500k house to sell IN LONDON... sold for 371,000 on friday 25th.
Be in no doubt that the market HAS CRASHED as Kinley reported a 9% fall across south london in past 2 months... how low will it go?
Additional Details
we are fine and freeeee!! We have our own place in Italy and 2 new little babies to dedicate our energy to... that's what changed it for us... we have a decent remit still and thank god we were able to sell at all.. but note the market has fallen out in London. |
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musicalj2
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We bought our house in Oxfordshire for £165K five years ago. Houses are still being marketed around the £200K region, but are forecast to fall back to the 2003 level by the doom pundits.
In any capital city property prices show rises and falls far more quickly than the rest of the market. It's hard lines if you bought property as an investment, but the thing to realise is that if you have had to lower your price to sell in London, then so will everyone else. It's a matter of sitting tight and riding out the storm, I'm afraid.
I did see a nice stone cottage for sale on a Greek island for around £7K; with what you've got you could buy that, invest the rest, live the life of Riley and still have a good income!
:-) |
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δώδεκα
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Nobody was complaining when they went up by 40% over the last 2 yrs |
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J G
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Hopefully a long time - everyone who has bought overpriced property over the last ten years & mortgaged themselves to the hilt have been the architects of this situation - with a bit of luck, house prices should halve so that first time buyers could have a chance. |
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WelshLad
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How much did you pay for the house? If it was less than £371,000 then what's the problem.
Surely with falling house prices, it is good for first timers, prices of homes are ridiculous, I was very lucky I bought mine in November 2007 for £65,500 (single person).
I looked on nethouseprices and the bloke only paid £37,000 for it in Feburary 2006. |
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blue
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Nobody knows just how low it will go, depends on the market which will have to be people who can actually afford what they are buying/have a deposit as its credit/debt/rising interest rates thats caused the problem - prices in Scotland havent dropped that much because no-one paid so stupidly high (although they have doubled over the last few years) for a small property BUT the market here has almost came to a standstill instead, so people arent able to sell, as no one can now afford (especially with the rising fuel and food costs here) to pay for a new home.
Anyway, a break in the market will allow new buyers and those on a minimum to average wage onto the market, as long as they have saved a deposit, the banks are still getting their cut through higher interest rates rather than low interest on massive morgages. Once we see some more people being able to 'climb the property ladder' it will start to push the market back up.
Its happened before and it will happen again, it has its ups and its downs and you just have to take the rough with the smooth.
Its all relative anyway, you will now get your next property cheaper too. |
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jammygal
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You poor thing...owning a 500K house. |
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globular
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I'm sorry for your loss. |
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taxed till i die,
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The problem is mortgages. |
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COLIN T
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Dont think anyone can tell you that and informed guesses' by experts have a habit of being wrong.
A number of years back - as you will see from the figures - i bought a new Bungalow and put my existing house out on rent. At the time, the house would have sold for £78-£80k. Three years later I sold it - for £46k !!!!! (In one way you could say that i did not make a loss as i had originally bought it at £28k - but it depends upon your perception).
Where I live, a year ago houses' would sell within 6-8 weeks. now there are hundreds that have had for sale boards up for 6 months or more and keep getting 'Revised Price' notices over their Estate Agents listings.
The plain truth is that for a long time now houses' have been grossly over valued in relation to salary's and now, the most important buyers of all, the first time buyers, have been virtually forced out of the market. I think that we are going to see a continuation of the down turn for quite some time yet.
In the country area I live in a new 2 bed Townhouse costs around 10-11 times the average local income! Many moons ago when I bought my first house, a 3 bed semi, it cost me 4 times my gross annual income! |
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