Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
25 September 2008
08:186589#1
Yesterday I had cause to go onto the Tersons website and while there had a look at the local properties, as you do...and I was amazed to find quite a few bargain buys in solid real estate.
Not so long ago the lowliest hovel in Dover would cost you an overcharged £140,000 or £150,000, now there are quite a few homes to be had for around the £99,000 mark.
Now of course providing you have the money or can raise a mortgage and are perhaps a first time buyer this is ideal market conditions to get onto the property ladder, I would suggest.
Investments are cyclical, whats down now will come up later...and will eventually rollover that crest and then shift downwards again and so on. Buy low sell high..as the Kennedys did when they made their first fortune. Houses are definitely low right now.
Only problem is you need that first injection of cash to get you going and cash is tight right now. But my advice would be "buy now!"
However I must make it clear,this is the disclaimer bit, I am NOT in anyway a professional Financial Adviser so what I am saying here is just speculative gesticulative chatter.
Maybe BarryW who indeed is such a beast, might like to add something to this thread, but as I say only by way of general chatter.
One other note, business is slow for Estate Agents in the current economic gloom, and I noticed one of them at the edge of market square appeared to have called it a day yesterday..their windows all whitened out. Cant remember the name of the one in particular as the frontage has been taken away, but was the one with the large wide tinted window. Directly across the square from Bar Ellie.
Terry Nunn
- Location: London Road, Dover
- Registered: 12 Mar 2008
- Posts: 4,321
25 September 2008
08:366591#2
"Your Move" closed about 6 weeks ago Paul, business is now being conducted at the Deal office. Paul Brown has downsized. Times are indeed bleak for estate agents but like used car salesmen my heart doesn't exactly bleed for them.
My house has been on the market for about a year. Up to about four months ago there was plenty of interest but no firm offers. Due to the current situation we have now withdrawn it. There just isn't the money around to get what we want for it.
Without doubt recession is with us.
Terry
Quis custodiet ipsos custodes?
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
25 September 2008
09:276592#3
PaulB. People should take great care and whatever else should not jump in to see if they can make a quick buck. There is still a lot of pain to go through and I dont think that we have seen the bottom of the property market. I am not an expert on property, however and I am thankfully not heavily into mortgage broking but I do keep an eye on this because on the impact on the wider economy.
On the positive side there is good reason to believe that commodities (despite a recent resurgence in oil price) are moderating and the inflation peak will soon be reached. This should enable the BoE to start reducing interest rates and hopefully we might see a fairly fast fall, though we did think that was going to happen 12 months ago!
Another positive, leading investment guru, Anthony Bolton, last week said that the equity bear market is entering its last phase with pressure moving from financials to commodities. We are not out of the woods yet and provided the US gets it act together we may find that a turning point has been reached.
Some good news there but remember, we are still heading into a recession and 2009 can be expected to still be difficult. I dont think we will really start to see an economic recovery until 2010 and it may be longer before people really see the benefit.
That said there are some longer term storms to encounter, the money supply position could result in a resurgence of (domestic) inflation from 2010 onwards. The Government (of whatever colour) needs to get a grip with resolving that and get control over spending and fiscal policy. Independent economists are saying that taxes will have to rise by the equivilent of 5p/£ or Government spending seriously curtailed. The hangover from the present crisis could otherwise be worse than the hangover we had in 1980 getting over the last serious Government spending crisis.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
25 September 2008
21:566611#4
i think that "your move" were getting more response from their internet website, and they simply deided to cut costs.
they did have a rather expensive sized office there.
Guest 674- Registered: 25 Jun 2008
- Posts: 3,391
26 September 2008
12:586630#5
What about YANKIE CANDLES in priory street they have been closed for some time now, anyone know when they might be opening again?
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
26 September 2008
13:566640#6
they are not gone tits up i here ,chap in drt next door told me.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
26 September 2008
19:166659#7
it took the landlord 3 months to notice they she had closed it due "to unforeseen circumstances".!!!
