Internet News Blog
January 10th, 2010
It seems to me that solicitors never seem to ever get things right when it comes to buying property. When I brought my house they messed up the papers so that we were delayed by 2 weeks. Now my brother is buying a house and he was supposed to have moved in by Christmas. We are now part way though January and the end for him is nowhere in sight, money has not even been exchanged and to make matters worse the solicitors have had the paper work for 3 weeks and are yet to even read them.
It seems now that there is even more delay as there is now a new for sale sign up in the garden with a new company so it could be that the owners have got fed up with waiting and put it back on the market.
I was surprised to read that property prices during 2009 actually went up 6% over the whole year. After what seemed a terrible time for the economy one area is recovering. I don’t think anyone knows will happen to property prices in 2010 none of the experts seem to agree. Some seem to think that we are going to see the improvement continue whiles others say we could see a decrease in house prices by 10%.
It is expected that interest rates could be frozen at 0.5% for 2010. You would have thought that because interest rates are low, then the rates for mortgages would be low. But the greedy banks are just using the low interest rates as a way of making more money. The high interest rates could put home buyers & property buyers off during the year. During 2009 property prices were driven up by the lack of supply, but with the prices higher more people could decide to sell. If this happens prices may dip during 2010, I think the best thing to do is watch the people that invest in property as it is their livelihood to know what is going on.
Tags: mortgages, Property
Posted in Property | Comments (1)
January 10th, 2010 at 5:00 pm
Hello.
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Thanks in advance