Property
#1
Just Joined
Thread Starter
Joined: Mar 2006
Location: West Yorkshire, UK
Posts: 19
Property
Hi all,
A broad question ..
Would buying a property (i.e. the north eastern coast) in the states be worth it, considering the current situation with the housing market over there? My parents are somewhat tempted in selling their property here in the UK to move abroad, US being high up on the list, in the next few years.
Ta.
A broad question ..
Would buying a property (i.e. the north eastern coast) in the states be worth it, considering the current situation with the housing market over there? My parents are somewhat tempted in selling their property here in the UK to move abroad, US being high up on the list, in the next few years.
Ta.
#2
Homebody
Joined: Jan 2005
Location: HOME
Posts: 23,174
Re: Property
Hi all,
A broad question ..
Would buying a property (i.e. the north eastern coast) in the states be worth it, considering the current situation with the housing market over there? My parents are somewhat tempted in selling their property here in the UK to move abroad, US being high up on the list, in the next few years.
Ta.
A broad question ..
Would buying a property (i.e. the north eastern coast) in the states be worth it, considering the current situation with the housing market over there? My parents are somewhat tempted in selling their property here in the UK to move abroad, US being high up on the list, in the next few years.
Ta.
#5
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: Property
Hi all,
A broad question ..
Would buying a property (i.e. the north eastern coast) in the states be worth it, considering the current situation with the housing market over there? My parents are somewhat tempted in selling their property here in the UK to move abroad, US being high up on the list, in the next few years.
Ta.
A broad question ..
Would buying a property (i.e. the north eastern coast) in the states be worth it, considering the current situation with the housing market over there? My parents are somewhat tempted in selling their property here in the UK to move abroad, US being high up on the list, in the next few years.
Ta.
property market across the USA is down with the areas of highest prices most probably likely to drop further
you maybe able to get a bargain at a foreclosure auction - but you need some serious wedge to get it initially closed then refinanced
#7
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: Property
as you personally are probably seeing right now
same here, its just the prices didn't go up so much in the first place, so they have less to fall (hopefully)
I send out a semi satirical local real estate report once a month giving a reality check on the market.
not difficult to argue with simple facts like closings going from 25-30 a month down to 5-7 a month....
same here, its just the prices didn't go up so much in the first place, so they have less to fall (hopefully)
I send out a semi satirical local real estate report once a month giving a reality check on the market.
not difficult to argue with simple facts like closings going from 25-30 a month down to 5-7 a month....
#8
Re: Property
where in the NE?
Bloomin' expensive for the most part, and property tax sucks again for the most part....and if they are old, are they willing to deal with the lovely warm winters we have?
But again, visa is the big issue, but being retired, they could get a B1/2 visa for 6 month stays, but medical insurance for any length of time will be well expensive.
Bloomin' expensive for the most part, and property tax sucks again for the most part....and if they are old, are they willing to deal with the lovely warm winters we have?
But again, visa is the big issue, but being retired, they could get a B1/2 visa for 6 month stays, but medical insurance for any length of time will be well expensive.
#9
And YOU'RE paying for it!
Joined: May 2007
Location: kipper tie?
Posts: 2,328
Re: Property
It also depends where you buy within the NE (obviously): some areas will experience growth or flat lines, some will decline. Doing it from afar and picking the right area, and renting it out in the meantime, would be difficult (but not impossible).
#10
Account Closed
Joined: Mar 2004
Posts: 2
Re: Property
But, if you were buying with pounds right now and thought (numbers out of the air) that the exchange rate would go down 10% and property prices would go down 7% over the next two years, you'd still be better off buying now than in two years.
It also depends where you buy within the NE (obviously): some areas will experience growth or flat lines, some will decline. Doing it from afar and picking the right area, and renting it out in the meantime, would be difficult (but not impossible).
It also depends where you buy within the NE (obviously): some areas will experience growth or flat lines, some will decline. Doing it from afar and picking the right area, and renting it out in the meantime, would be difficult (but not impossible).
Last edited by scrubbedexpat099; Nov 1st 2007 at 12:42 am.
#11
Re: Property
Hi all,
A broad question ..
Would buying a property (i.e. the north eastern coast) in the states be worth it, considering the current situation with the housing market over there? My parents are somewhat tempted in selling their property here in the UK to move abroad, US being high up on the list, in the next few years.
Ta.
A broad question ..
Would buying a property (i.e. the north eastern coast) in the states be worth it, considering the current situation with the housing market over there? My parents are somewhat tempted in selling their property here in the UK to move abroad, US being high up on the list, in the next few years.
Ta.
Remember real estate agent fees are higher here (often 6% when you sell). If they need a mortgage at all then it will be more complicated with no credit history, and also they may pay more interest initially. Property tax can be very high - I am paying $6000 a year.
If they want to move abroad I would rent for a while and use the interest off the money they make from selling their UK house, then decide what they want to do. But I have not exactly taken my own advice