Are There Still any FTB's out there??

wymondham

nicksta27 wrote: »

I hope it doesn't crash to 50% less as I brought it for £97,000 4 years ago and would be in real trouble!

I wish I had brought just a couple of years earlier when they were about £60,000!

I would be prepared to reduce my price, but the problem is that the houses I am looking at buying will not reduce theirs - therefore we are stuck!

if it's of any comfort the people you're looking to buy from are in the same position, albeit they don't seem to have realised it yet.....

redhead123

I am..I put an offer in on a house - but it needed lots of work doing so initially i asked for money off then got estimates found it would cost more than the money they knocked off and asked them (the vendors were buying from builders so it's the builders in this case) to do the work.. they said yes..

But are now considering part exchange! So I miay have just taken money out of my ISA and can't put it back in

johnny_storm

If you really want to sell NOW is make sure you are under the drop. Dont hold out for what you think its worth, aim £5k or more under.

Offer the people you want to buy from the same. Tell them you are pricing to sell in todays market, and if they dont do the same then you will look elsewhere as you dont want to get trapped in a falling market.

One thing to consider, if prices do drop 50% then the amount you need to borrow to get to your new house will be much less too. I'm pretty sure you will be much better off.

The only people who really stand to lose are people who are down sizing and those who foolishly got into buy to let late in the economic cycle.

gordonstights

We are first time buyers who spent the majority of last year viewing houses, even had an offer accepted in January and the seller took a higher offer a week after ours. Since then we have just been casually watching the market. Houses that we viewed in December are still on the market and dropping 5K every so often.

There is nothing that makes us feel like there is any urgency to make an offer and we are obviously hoping that the houses we previously couldn't afford drop into our price range.

Each week we see properties dropping in price, we are adding more money to our deposit, which can only be a good thing for us.

wharty

nicksta27 wrote: »

My house has been on the market for just over a week now (not long I know).

We have had plenty of viewings, but not 1 single first time buyer! Are there any still out there buying at the moment?

We are priced just under the stamp duty level £125,000.

How are other sellers getting on?

I thought stamp duty came in at 120k not 125k?

RichardDJ

I'm a FTB, i've got 15k deposit, earn 40k+ a year but there is no way on earth I'm going anywhere near the market fot at least the next year

wymondham

gordonstights wrote: »

We are first time buyers who spent the majority of last year viewing houses, even had an offer accepted in January and the seller took a higher offer a week after ours. Since then we have just been casually watching the market. Houses that we viewed in December are still on the market and dropping 5K every so often.

There is nothing that makes us feel like there is any urgency to make an offer and we are obviously hoping that the houses we previously couldn't afford drop into our price range.

Each week we see properties dropping in price, we are adding more money to our deposit, which can only be a good thing for us.

Very sensible first time buyer... You're patience will be rewarded I'm sure!! :T

zappahey

Phil_rich wrote: »

Yes there are, I just sold my place to a ftb for the asking price. i did price it to sell and they were the first to view.

Same here on all counts, just crossing the fingers to exchange this week.

Gonzo

I exchanged yesterday with a FTB.

Price it correctly and a nice house will still sell perfectly well.

PeteW

I'm still here! Planning on putting in an offer on a house later this afternoon!