Is anyone still looking at houses to buy?

myhouse_2

Would like to buy soon, but have decided to wait 12 months - reason is that prices seem likely to be much lower next Christmas than this year. It's never guaranteed but I just feel I'd regret buying now and am in no hurry.

rinkydinkpanther

I've made good two offers this week on a house that has been on the market for six months, both rejected. We've cash in the bank, no chain. I'm rapidly coming to the conclusion that there are an awful lot of houses on the market where the owner doesn't actually want to sell, and think I'll walk away for a year or so.

justme111

I want to buy so if I see something that I like I will offer what I think is good. Every week checking estate agent's websites, surprisingly there are quite a few properties coming on the market, regretably wwhat seems not ideal for me and what seemed ideal have not accepted my offer in September, still on the market at the same price

justme111

rinkydinkpanther wrote: »

I've made good two offers this week on a house that has been on the market for six months, both rejected. We've cash in the bank, no chain. I'm rapidly coming to the conclusion that there are an awful lot of houses on the market where the owner doesn't actually want to sell, and think I'll walk away for a year or so.

Exactly, the majority don't want to sell, they want to get X amount of money for their houses. Still I have seen a couple of very attractively priced ones, those are the ones that NEED to sell. hopefully one day you will see the house that you like that will NEED to sell, and in any case walking away in my experience is not good as I lose the pulse of the market - what sold, at what price etc.

myhouse_2

You can generally tell the ones that don't want to (= not going to) sell after a few months on the market. The motivated sellers will cut their price quickly. Vendors who are flexible in a difficult market will have a chance to sell while the inflexible ones sit while houses around them go for cheaper making them look more and more unrealistic. There will be a huge number of properties coming on in spring so I think we'll see this difficult market being shaken up a bit between then and summer. Probably I'll start looking seriously in late spring with a view to buying later in the year - as another poster says, it's good to get a handle on the pulse of the market.

gb26

I am seriously looking for a house too buy, we have finally saved up our deposit and are excited to start looking. We have 10 viewings booked for the next week, I like to be organised, hopefully we will find a house we love in those 10, my main concern is wether the vendors will drop their asking prices. Obviously I would offer a realistic price but I guess even if there are people buying unless people actually want to sell it's going to be tough for both parties. I am thinking a vacant property is the way too go as they will be most likely in a rush to complete sooner rather than later.

I am new to this so may be wearing rose tinted glasses

wodgerdodger

For many reasons market is slow, we've been on the market for some months now and wasn't expecting much interest this month but lo and behold even with 5" of snow outside and Xmas shopping still to do we've got a viewing on Sunday!

Moral is expect the unexpected.

V6Matt

I put an offer in for a flat in mid November which has been accepted and I am going through the process.

I think there is a huge amount of scaremongering but you have to maintain a balance.

Did prices in the area you are looking drop dramatically during the early stages of the recession? In my area I was looking for my sister last year and late 2008, prices simply didn't move in advertised prices and sold prices, although the outskirts did.

We are also seeing an admittedly surprising slowdown of the decline in prices from 0.7 (Oct) to 0.3 (Nov) - Nationwide

Quite a few of the properties are overpriced imo at the moment, those that are priced correctly seem to sell and especially those in desirable areas.

We are of course going to see further declines in 2011, but personally feel it is a balance between the relative risk in your area and some of the deals that are popping up due to fear.

brit1234

rilou81 wrote: »

Thanks makes a lot of sense! We are a target FTB house though and have though about offering 5% gifted deposit in the new year as we are very aware its the hardest target area as a lot don't have the deposit saved.
I am watching the market like a crazy lady so will sit tight as you suggest and take action in Jan and just enjoy xmas!! x

As a FTB your better dropping your price by 5% than a gift deposit.

I will only approach sellers who price realistically in the new year with these continuous monthly falls.

rilou81

brit1234 wrote: »

As a FTB your better dropping your price by 5% than a gift deposit.

I will only approach sellers who price realistically in the new year with these continuous monthly falls.

Its swings and roundabouts really. I assume you have the 10% deposit so would perfer the 5% off, whereas a lot of people would prefer the 5% to help them on the ladder-I would imagine most people seeing that would either say ill have the deposit of give the the money off-same difference to me.
Only thought about it as a friend is doing it on a house she loved, they offered her the 5% and now she can buy...........lots of help on here and good points, food for thought, thanks x