Housing Boom bubble about to burst big time ?

If your a home owner thinking of selling or perhaps presently have your house on the market, the process could be slow and you may have to drop your asking price.

Many Estate Agents around the country are now advising their clients to drop their asking price as much as 15%, according to a news article recently published prices will drop 30% in the very near future !!

Now, that is scary.

I sold my house in Midlothian back in July when prices where at their peak, did i make a profit ? Yes and a very big one at that. If i had waited off an extra month i would have possibly sold for 3% less.

Investors will be rubbing their hands now, infact in another 3 months time investors will be purchasing houses as massively knocked down prices from auctions - thats a fact !

Below is a snippet taken from a very popular quality daily paper.........

Estate agent Countrywide has admitted it will have to close branches as the slowdown bites; and the Nationwide, Britain's biggest mortgage lender, rarely the most pessimistic of forecasters, is predicting that house price growth will slide to zero in 2008.

This makes bad reading, personally i wouldnt be thinking of selling my home within the next 12 months, unless of course your willing to let it go under its true value.

Will be see more increased interest rates ? Well put it this way - does a bear shit in the woods.

regards

borders local team.