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You'll have to wait a long time DP before house prices become as low as the thirty quid you have in the bank!
How's it going wickerman, or was it bamboo....got any more plan B's up your sleeve? Could do with knowing what to avoid. I like to learn from other people's mistakes. Lost enough money from my own as it is.
Do I go in now at say 20-30% below current asking price or wait another 12 months or so to clean up?
Buy now or wait?
You sound like you're following the instructions of The Mainstream Media, who at some point in the past 3 weeks have decreed unanimously that house prices have fallen around 15-20% from peak, and have another 15-20% to fall before the market bottoms out, in 12 months or so. I think Robert Peston might have floated that as a possibilty in early November, and the other hacks took it as gospel. Well, if enough people do believe them then they'll be proved right after all.
Buy when it's rising again? Yes, that's when people accept 50% of the asking price.
Dick.
These companies that offer to "buy your house guaranteed" were around for years, and profited with rising house prices. Plus who cares what % of the asking price they accept if the asking price is unrealistic to begin with.
Anyway, good luck with your well thought-out project.
The property auction I want to a couple of months ago either sold everything around Estate-agent value; or didn't, but there was a reserve price on it at round about Estate-agent value that stopped it from selling it at all. Nobody rubbing their hands at getting a juicy bargain.
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