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Should I make the move

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  • Should I make the move

    I am considering buying a house in my area which is priced fairly low to the amount of money I am used to seeing properties in my area valued at. I am in two minds as it seems like it could be a good investement oppertunity- if the value rises to how it was before- however with the changes this country is going through financially I am worried that this could just be just the opposite. I would rent the house, preferrably to a family before I am ready to sell it.
    Any information or insight you can give me would be vey helpful and much appreciated!

  • #2
    64million dollar question this....but I would offer the comment that in my opinion, made up of a mix of personal experience and observations, that many sales going through have already factored in a large reduction against the recently experieced highs of recent 'market prices'. I understand that many deals are already being done at 25-40% bleow peak value (this against figures reflecting perhaps an actual 12-15% reduction on average). If the larger reduction is the case with your potential purchse then I personally feel, if your area is sound, rentals stack up then it maybe worth moving forward.
    There is 'pent up' demand in the housing market, clearly that won't move thru into sales and prices until the economic predicament improves including lending, however many predictions for reduction sit in the range I mentioned. in my opinion prices will recover but not in the short term, perhaps though as early as sometime in 2010
    Mark Donald
    www.Reports4Planning.co.uk
    providing more effective reports.......

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    • #3
      cheers mate! much appreciated.

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