Is It me??? or ....

kunekune

Well, around here, a lot of the houses that are selling are 4 bedroom family homes in the zones for excellent primary and secondary schools: one was to us, and two others were ones we'd given serious consideration to. THe EA commented that the buyers were in all cases people who were not conventional FTBs, but for various reasons were currently in rental. None of them had houses to sell. OH and myself reached the decision on the basis that they'd come down quite a bit, what we wanted was now affordable, we didn't know what was going to happen next but it was time to get settled down again and get on with repaying a cheap mortgage. People who make that kind of decision are likely to be those with school age children: both size and location matter, and moving on every six months (or thinking about it) is not a good idea when making schooling plans. But I think also that these are also decisions made with practicality: interestingly, just up the road a mile are some houses that you might expect also to have got interest, but they haven't. The difference? The only thing I can think of is they are not zoned for any secondary at all, and the nearest one is in special measures and undersubscribed. Not a risk we'd take even for a nice house, perhaps the others are making the same decision.

QTPie

kunekune, I am sure that your type of buyer is making up a large proportion of the people making offers (and especially those that go through to completion) at the moment.

QT

socrates

kunekune wrote: »

Well, around here, a lot of the houses that are selling are 4 bedroom family homes in the zones for excellent primary and secondary schools: one was to us, and two others were ones we'd given serious consideration to. THe EA commented that the buyers were in all cases people who were not conventional FTBs, but for various reasons were currently in rental. None of them had houses to sell. OH and myself reached the decision on the basis that they'd come down quite a bit, what we wanted was now affordable, we didn't know what was going to happen next but it was time to get settled down again and get on with repaying a cheap mortgage. People who make that kind of decision are likely to be those with school age children: both size and location matter, and moving on every six months (or thinking about it) is not a good idea when making schooling plans. But I think also that these are also decisions made with practicality: interestingly, just up the road a mile are some houses that you might expect also to have got interest, but they haven't. The difference? The only thing I can think of is they are not zoned for any secondary at all, and the nearest one is in special measures and undersubscribed. Not a risk we'd take even for a nice house, perhaps the others are making the same decision.

Did you take a breath at all while typing that?

Catti

Happy to report that the number of new instructions we are getting for conveyancing has definitely improved this month! Still slow but better than its been for last few months.

alisonp_2

Catti wrote: »

Happy to report that the number of new instructions we are getting for conveyancing has definitely improved this month! Still slow but better than its been for last few months.

Same here I'm glad to say ! At last !

febop

In my area it seems to be improving was dead when we went into ea before christmas now viewings seems to be booked up and when you go its busy!

Xinpei

Hi, I live in the north east and have noticed too quite a few houses getting sold in the area we're looking to buy in Ingleby Barwick, where only 8 sales were completed in December. I noticed about 4-5 houses here being 'Under Offer' or 'Sold' within weeks of being put up on the market. The estate agent and mortgage broker I'm working with have said their phones ring non stop and she is stuffed with appointments.

My colleague, whos put her house up for sale in Jan, already has an offer.

There are a few different things I hear about Jan/Feb - some will say it is traditionally a quiet time, whilst some will say its post xmas ineterest?

I saw in a video on fool.co.uk last week - where they did a survey (not sure where but I think it wasn't a massive sample) and more than 70% of those surveyed said they will buy in a falling market. That seems to go against what the majority of posters on here appear to be advocating (wait!!! prices will fall more etc etc etc).

ess0two

Cat695 wrote: »

House prices rising when we're in a recession and more and more people losing jobs.....only us brits could do it!

Stuff it I'm gonna blow my deposit on that 68 Mustang I saw on Auto trader the other day.

Go for it.........

socrates

Xinpei wrote: »

Hi, I live in the north east and have noticed too quite a few houses getting sold in the area we're looking to buy in Ingleby Barwick, where only 8 sales were completed in December. I noticed about 4-5 houses here being 'Under Offer' or 'Sold' within weeks of being put up on the market. The estate agent and mortgage broker I'm working with have said their phones ring non stop and she is stuffed with appointments.

My colleague, whos put her house up for sale in Jan, already has an offer.

There are a few different things I hear about Jan/Feb - some will say it is traditionally a quiet time, whilst some will say its post xmas ineterest?

I saw in a video on fool.co.uk last week - where they did a survey (not sure where but I think it wasn't a massive sample) and more than 70% of those surveyed said they will buy in a falling market. That seems to go against what the majority of posters on here appear to be advocating (wait!!! prices will fall more etc etc etc).

Yes - there will be people buying BUT what is to say they are doing the right thing and the people who are telling them to wait are saying the wrong thing.

One positive thing is people are getting together sensible deposits and the banks are tightening their lending criteria - and when rates do eventually go up the sensible advice given on here to fix their rates will stand these people in good stead.

Good houses will always sell bad ones will struggle.

Catchment areas and ameneties also play a factor.

My personal opinion is NOT to buy at the moment but if you do make sure you get a very good deal.

QTPie

Xinpei wrote: »

That seems to go against what the majority of posters on here appear to be advocating (wait!!! prices will fall more etc etc etc).

It is always a gamble and different people have different motivators for buying...

The most sensible thing from the financial "bottom line" point of view is probably to wait for another 6-12 months or so. But life isn't always about the financial bottom line and if you wait until the lowest prices are available you may also find that there isn't a lot to choose from (anyone with a really nice house, who can afford to wait WILL wait... There will probably be limited stock available and those may be quite undesirable) and mortgage rates may have risen by then.

Now is not a bad time to buy if you can get exactly what you want for a price that you are happy with and can comfortable afford financially. Assuming you are secure financially and intend to stay in the house medium to longer term 5/7/10 years.

Now is not such a prime time to rush onto the market for FTB if you are not finacially secure (i.e. recently started a new job in a less stable sector), if you would be financially stretched, if you are likely to want to move again in the next 2/3 years (relocation, job mobility, bigger family).

Everyone's situation is different and so everyone has to do what is personally right for them.

QT