Asking a real estate agent in UK whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
I completely understand where you’re coming from. When I started collaborating with Annette Marie Holt, a fiduciary financial counselor, I really felt the advantages of having that expert guidance. It’s like navigating a boat through turbulent waters; having an experienced captain can make all the difference.
@leemarsden1846 so why are they being reduced. I check daily and the ones that are reduced to better price eventually sell. The ones that are not reduced still on the market. Some have been on the market since 2022. That tells you that they are not right price
Asking prices still massively distorted... they go on the market high to see if any suckers will buy and then they reduce to the current market value. sold prices are the only standard worth watching.
Asking prices do have some value, if the market is crashing or in freefall you dont see the initial high asking price. It shows us seller sentiment right now they are not desperate to sell.
a property is only worth what a buyer is prepared to pay, same as cars and other commodities, most are overpriced so the seller will have to negotiate a lower price, the fault lies with estate agents and car dealers asking too much
I have read some piece of information showing that prices are changing direction drastically, up to 25% down in some London areas. It would be nice to know your opinion specifically about prime locations in London, like Marylebone, Kensinghton etc
We reduced the prices on our site, then nothing happened, then all of a sudden we had offers on 4 plots, then we had offers over asking for one of the plots, the market is so strange
Its all speculative, i would say most most houses or flats need money spending... maybe new roof, boiler, windows, doors, kitchen, bathroom, list goes on, i think the house's that have had a lot of work done will fetch more obviously and get snapped up, everything is so expensive now so i can't see house prices overall going up anytime soon.
Hello dear. Just have one question. Currently I have mortgage for 110700/= for 5.56% For 2 years fixed. And total duration 33 years in barclays. What shall I do? Keep going with this or remortgage with currently lower rates?
House prices in the medium term are more likely to go down......the stock is so overpriced.....most flats houses are trash.....all viewings are damn disappointing, if you aren't a builder you need to add minimum 50k on top of purchase price for fixing these broken things
@christiangarau7647 yes they are demanding ridiculous prices for trashy houses! 😒 people should let the prices fall further before buying. It's because they don't understand the fear created
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Read about it on our NEW blog: property-accelerator.co.uk/uk-house-prices-rise-sellers-to-sell/
Asking a real estate agent in UK whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
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Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
I completely understand where you’re coming from. When I started collaborating with Annette Marie Holt, a fiduciary financial counselor, I really felt the advantages of having that expert guidance. It’s like navigating a boat through turbulent waters; having an experienced captain can make all the difference.
@@williamDonaldson432 I'd be glad to get the help of one, but just how can one spot a reputable one? How did you spot this Annette ?
Annette Marie Holt maintains an online presence that can be easily found through a simple search of her name on the internet.
i check daily becuse i need to buy, they are overpricing than slowly they get reduced
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Just cos you think it’s overpriced doesn’t mean it’s not fair market value
Reductions aren't opinion
@leemarsden1846 so why are they being reduced. I check daily and the ones that are reduced to better price eventually sell. The ones that are not reduced still on the market. Some have been on the market since 2022. That tells you that they are not right price
There is only so much money in the system, prices can't go up forever.
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Good properties are getting swiped up within a day or two, over priced and below average properties are sitting for months.
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Asking prices still massively distorted... they go on the market high to see if any suckers will buy and then they reduce to the current market value. sold prices are the only standard worth watching.
Asking prices do have some value, if the market is crashing or in freefall you dont see the initial high asking price. It shows us seller sentiment right now they are not desperate to sell.
a property is only worth what a buyer is prepared to pay, same as cars and other commodities, most are overpriced so the seller will have to negotiate a lower price, the fault lies with estate agents and car dealers asking too much
👍
I have read some piece of information showing that prices are changing direction drastically, up to 25% down in some London areas. It would be nice to know your opinion specifically about prime locations in London, like Marylebone, Kensinghton etc
Will take a look again, I did some videos previously on Kensington, Chelsea etc at the time they were down over 20%
We reduced the prices on our site, then nothing happened, then all of a sudden we had offers on 4 plots, then we had offers over asking for one of the plots, the market is so strange
Nice, more people are jumping in now due to rates going down last 2 months.
As far as i understand rightmove asking prices dont include reduced prices, and so are biased, and (deliberately) midleading.
They still show market sentiment of new sellers.
Fantastic analysis
Thank you Sir
Brilliant as always
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Its all speculative, i would say most most houses or flats need money spending... maybe new roof, boiler, windows, doors, kitchen, bathroom, list goes on, i think the house's that have had a lot of work done will fetch more obviously and get snapped up, everything is so expensive now so i can't see house prices overall going up anytime soon.
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There’s some bargains out there , if your buying,
"More reasonably priced"
True
Yes people who want quick sale - price is right
@@naeedaafzal3055 I’m finding landlords selling blocks of 5 at a time, they are getting out,
I think your missing the main thing. Those that sell need to buy or rent :)
Yes your right and some are fleeing and "GOING WHERE THERE TREATED BEST"
20% of the market is landlords selling who dont need to buy or rent on the back end.
@@propertyacceleratormost landlords that want to sell have already sold.😊
I already mentioned before, average house price is misleading because downsizing is popular, more big houses are for sale.
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Hello dear. Just have one question. Currently I have mortgage for 110700/= for 5.56%
For 2 years fixed. And total duration 33 years in barclays. What shall I do? Keep going with this or remortgage with currently lower rates?
Not worth the hassle as there will be exit fees on the original just suck it up for 2 years ❤
I would speak to a broker to work out the best deal for you.
House prices in the medium term are more likely to go down......the stock is so overpriced.....most flats houses are trash.....all viewings are damn disappointing, if you aren't a builder you need to add minimum 50k on top of purchase price for fixing these broken things
👍
@christiangarau7647 yes they are demanding ridiculous prices for trashy houses! 😒 people should let the prices fall further before buying. It's because they don't understand the fear created
Look at essex/london people asking 300k+ for a house that's had no work done since 1980
What about the newly reported ‘ income from assets tax’.
Yeah sounds like it wont be good.
The house market going to crash it is unsustainable and deflation is coming
👍 If we have deflation with forced up minimum wage and NI jobs will be SLASHED.
House and rent prices are down.
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If you stick to your guns your house will sell as we have and full asking price .
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Not really unless it's fantastic property otherwise they just sitting there
Deflation is coming to America
That will hammer rates down very quickly.