 Is it wise to buy a condo and then rent it out to someone to build equity? |
| Probably something in the 80 to 100 thousand range. Would only be able to make a small down payment. Is this a good idea or waste of time and money? I am twenty one years old. Thanks for the imput.... |
|
 Paying Rent? |
| Do apartment complexes ever take partial rent payments? Say I needed to pay X amount but could only pay Y. Would they let me pay Y, and then the balance mid month plus a late fee? Has anyone ever ... |
|
 I have a crappy landlord and my rent is due.? |
| I've lived in the house I rent for 3 years. 1 month after I moved in, leaks started springing everywhere, basement, kitchen ceiling, bathroom tiles started falling out, water from the roof ... |
|
 Can the land lord have potential buyers walk though your apt, to look at it ? |
| I pay rent every month, but the place is up for sale, is it legally right too have people walk though to look at the place ?... |
|
 Buying a home in a bad neighborhood? |
| My husband and I have the option to buy a nice 3 bed/2.5 bath home in a good area of San Diego for $480,000 which would make our payments somewhere between $3,000-$3,600 per month. We make decent ... |
|
 There is 100 acre farm behind my house and they are going to devleop it is there any way to stop it? |
There will approx.100 homes and 70 acres off the land is woods.
Additional Details
The township where this is a very little laws about buildings and ... |
|
 How to get the owner who want to sell or rent their condo/apartment? Pls help!!!? |
| I just started to be a real estate agent. I have a pool of tenants who want to rent a condomidium/ apartment, but I don't know how to get /reach the owner of the rental unit. The security of ... |
|
 RAtS what can a rental tenant do? |
| What can you do about rats? Ive asked management over and over to take care of the problem and they have done nothing. The rats are in the trees around my balcony and rumage threw my things on the ... |
|
 Can only get a mortgage for about $82,000 should i get a mobile home? |
| i called countrywide re: mortgage and was told i dont make enough money to get a mortgage for a single family house.. that all i could qualify for is about $82.500 even tho i do have a gd piece of ... |
|
 Can i leave my tenenacy agreement in the first few days if i dont like my neighbours? |
| I have just moved into a new flat and have only been there a few days. It's an upstairs flat and i've discovered a young family living below who like to play music, blast their TV and ... |
|
 In foreclosure, can they take other property? |
| I can't make current mortgage payments, and am trying to sell. But if I can't it will go into foreclosure. If the bank sells the house for LESS than the loan amount, can they make me pay ... |
|
 College, flat and a job ~ only 16 need advice!!?? |
hey !
i want to move in a flat with 3 of my friends into a 2 bedroom flat (we're gonna share rooms) but i know that rent is very expensive so i would need to get a job to help pay for it, i&... |
|
 Foreclosure or...? |
| I own a rental with huge structural problems needing repair and tenants who never pay their rent on time. The building is below code and this wasn't reported to me by my inspector. I am in ... |
|
| How do i rid myself of a renter who wont pay rent? |
| i have a renter who will not pay her rent. i want her out because i have someone who will. i dont have the money to go to court. what do i do?... |
|
|  |
paulajc | Why are house prices falling? |
|
 |
 
Steve D
|
For a number of reasons, but teh main reason is that there is too much supply for the demand. Whenever supply of an item is greater than demand, prices fall.
Due to the recent level of foreclosures, many more houses came on the market. Also,many people are realizing that the terms they signed up for are no longer favorable to them and they are trying to sell their houses, placing more supply on the market.
Banks have tightened approval processes for mortgages, meaning fewer people are eligible to buy houses (removing demand). And with the current uncertainty about the market, many people who would otherwise be looking to buy are holding off, further reducing supply.
Lastly, the recent jump in unemployment have left more people strapped for cash and unable to afford what they have, further stressing the market. |
|
E S
|
To give you the simplest answer (and obviously a situation like this is not simple) Lenders were providing mortgages for people who really couldn't afford the house to begin with which flooded the market with more home buyers. This drove the prices of houses up. Once the interest rates went up and people couldn't pay their mortgages, banks started foreclosing and the housing prices began to to fall. The housing prices were "artificially" high and now they are falling as the market evens itself out. All the problems with Fannie Mae and Freddie Mac are related to this as well.
Hopefully this gives you a general idea of what is going...
-Elizabeth |
|
Eddy T
 |
The spin off from the sub prime mortgage crisis. The mortgage and foreclosures taken by banks. The current slowing down of the economy and recession fears. Companies downsizing and redundancies. Inflationary pressures causing insecurity and panic among the people. All these factors make people to default on their mortgage or to sell their houses and resorting to renting a home. |
|
superoverdrive
|
Assuming you have 200,000 pounds and put it on your bank account - you currently get 1000 pounds of interests every month - and thats for sure and really 100% save.
If you buy property for 200,000 pounds, how much rent do you get/save? Definitely less then 1000 pounds + the risk of loosing x% of money, e.g. when property prices fall by another 10% this is 20,000 pounds you have lost you might as well have spent on a luxurious holiday.
So it is a waste of money to buy - if it is not worth to buy property in the UK, less people do it (only fools) - and if less people do it, the demand decreases and the price as well. |
|
Marysue
|
Put simply, there are more homes available than there are buyers who are willing and able to buy them. Because of that, buyers don’t have to pay top dollar. They can shop around until they get a price they like. |
|
joveesasha
 |
We all know those programs that existed last year did not really qualify buyers for the increase of interest. Now with all foreclosures in the area a house for sale goes by the last few sales in the area. 5,000,000 in the hole and another 4,000,000 real soon, this is the worst in history. thats a good part of your answer.
|
|
Hanz H
|
Basically, the housing crisis is making things worse for home prices. The increasing number of foreclosed homes add up to the inventory of unsold homes. And because there are too many unsold homes in the market, prices drop significantly just to make sure that someone buys them. Yet, people are still reluctant to jump in because of fears that the housing market is on a continuous downward roll. Remember a certain news weeks ago when a house was priced $1, and still, it took quite a while before somebody bought it? You can also blame risky mortgages because they are the cause of foreclosures. |
|
Lily B Talus
|
they were overpriced when the economy was doing well |
|
jcontrols
|
We've overbuilt. There are far too many houses on the market that very few people can afford! Keep shopping Walmart! ;-(= |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 8 minutes(s) ago
| | | |
8 | 32 minutes(s) ago
| | | |
9 | 49 minutes(s) ago
| | | |
9 | 3 hour(s) ago
| | | |
9 | 7 hour(s) ago
| | | |
8 | 9 hour(s) ago
| | | |
9 | 2 day(s) ago
| | | |
9 | 4 day(s) ago
| | | |
9 | 2 week(s) ago
| | | |
8 | 1 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
