Do I have any hope in finding a FTB?

Financial_Savvy

I am at the bottom of the chain which fell foul a few weeks when the buyer on our house pulled out. If I am in any hope of finding a buyer, it is likely to be a FTB to purchase our small house.

Do I have any hope or should I throw the towel in now?

Financial_Savvy

thanks that helps.

Old_Git

ok seriously if you where a FTB would you buy your house at the moment .
How long did it take to get the last buyer ?
Any house will sell if the price is right ,have you a link for your house .

PasturesNew

They're out there. And some people are still buying.

Do you have a rightmove link and we can cast a "Buyer's Eye" over it and let you know what a buyer might think...?

Your house has to be the best value of its type in your area. That's all. There'll be somebody who absolutely demands to buy a house right now and you've got more competition than you would have had a year ago, so it's all about how complete strangers would view your house on rightmove, compared to the others.

lincroft1710

There are 1st time buyers, but less of them, so you have to make your house attractive to them and the most attractive aspect of a house to a wise FTB is its low price.

Trollfever

Published by Rightmove 21st July 2008

Shipside comments: “In a falling property market, sellers need to work a lot harder to
achieve a sale and look at how they can apply a ‘kiss of life’ to their property transaction.
They need to work smarter and think and act like professional marketers. It is vitally
important not to let your property go stale - or ‘Brickor Mortis’, the housing equivalent of

‘Rigor Mortis’, will take hold. Once a property is marketed at the correct price below local
competition, then it is the best promotion and presentation that can give your property the

edge.”

Bf109

Try making your house affordable. Find out what your average local income is. Multiply this by four. Thats how much you should price your house at.

Treadmill

Lol @ Bf109... so every potential FTB house in an area should be priced the same then ?

Makes valuations easy I spose

phil_b_2

Bf109 wrote: »

Try making your house affordable. Find out what your average local income is. Multiply this by four. Thats how much you should price your house at.

by that logic every house, from 1 bed terrace to 5 bed detached, should be the same price :rolleyes:.

ruggedtoast

phil_b wrote: »

by that logic every house, from 1 bed terrace to 5 bed detached, should be the same price :rolleyes:.

Its an FTB property, thats already been established.

RichPenny

Where I am, there are still a fair few places at the lower end of the market going SSTC on rightmove. What these places seem to have in common is being priced to take into account todays market. Many FTB's assume (myself included to begin with) that the price a property is up for is what the owner will sell for. Most people price high to allow for circa 10% negotiating. My advice would be to cut this off at the start, plus perhaps an additional 5-10% so that yours is priced well under the competition. Assuming of course you can afford to do this, your property would stick out like a sore thumb.

Say you put it up for £160k for example (standard price for 2 bed house here). There must be 40-50 of those for sale here, I don't generally even look at the details. There are some coming down to £150k slowly which also aren't selling, and there is the odd one coming on at £140 -£145k. I cant think of any of the latter which does not go STTC within a few weeks.

There are still lots of FTB out there, but they need reassuring that they are better off buying now than in a years time. Given all of the current news, you have to offer your place at a price which takes into account a significant proportion of current fall predictions.