The mad scramble to get a family house in spring

geoffky

kittie please post your area and then we can be the judge of your statment..ie we can check the market

merlinthehappypig

hermoine wrote: »

Don't know what the objective of this thread is but for what it is worth my house has been on the market at a price for quick sale since July!!!

We have had 2 offers which were frankly just chancers. Not very many viewings lately either.

We are in the South West of England.

H

I'm not sure of the objective of this thread either, just a wind up I think which is why I hadn't bothered responding, until now.

You raise an interesting point, however. It's difficult to value a house at present, but the standard argument is that it is worth what someone will pay. I have to be honest and say that, whatever you think, if your house was priced for a quick sale in July and hasn't sold it is too expensive.

Without knowing the price you want and the value of the offers it is impossible to say whether the offers you had were reasonable or not. However, as someone also in the South West and considering buying at present I would be looking for at least 10-15% off a price of a house that has been on since July. This doesn't make me a 'chancer' - just someone who is not prepared to pay silly money and who is trying to mitigate the effects of the fall in house prices that has already started. I have seen houses reduced by over 20% just lately, but still too expensive IMO.

mr.broderick

hermoine wrote: »

Don't know what the objective of this thread is but for what it is worth my house has been on the market at a price for quick sale since July!!!

We have had 2 offers which were frankly just chancers. Not very many viewings lately either.

We are in the South West of England.

H

I don't understand this post.
Priced in july for quick sale, 2 offers from chancers?? Still not sold 5 months later..Not many viewings..Sounds to me like you were ill advised with the offers you received. Anybody buying now within 20% of asking price need their heads testing.

macaque_2

kittie wrote: »

Sold boards have been going up in my area and there is a shortage of good family homes in the catchment area of our fantastic local comp.

I am sure that there will be a mad rush to get a family house in the spring. It isn`t the sort of area where there are blocks of flats full of 1-2 bed apartments. The doom and gloom merchants are obviously not differentiating between areas and types of property

:wave:

Chimps share more than 96% of their DNA with us, baboons about 90% and bananas about 50%. In your case, I would estimate 35-40%.

dolce_vita

In reply to the topic of this thread - it may well be the case that house hunting picks up in the spring.

But this coming spring the people doing the hunting will not be prepared (or be able) to pay as much.

There is also likely to be a glut of ex-btl properties on the market as landlords look to sell.




I can tell you now with absolute certainty that houses will be cheaper in 6 months time.

Biggie

dolce_vita wrote: »

In reply to the topic of this thread - it may well be the case that house hunting picks up in the spring.

But this coming spring the people doing the hunting will not be prepared (or be able) to pay as much.

There is also likely to be a glut of ex-btl properties on the market as landlords look to sell.




I can tell you now with absolute certainty that houses will be cheaper in 6 months time.

if your so certain then buy some put options in property and make a killing, the larger the doom the more you will make.

dolce_vita

Biggie wrote: »

if your so certain then buy some put options in property and make a killing, the larger the doom the more you will make.

Thanks for that advice.

But I already have.

boinging_2

This thread is pretty useless without the area you live!

I can tell you in my nice area, with good schools, houses are not selling for asking prices..

Nobody has ever said people will stop buying house, the effect will be that they just don't pay as much for them. Sold signs = sales agreed BUT what price was it sold at?