when will people start buying again?

Eon4

Its ok saying you are prepared to knock some money off but a potential buyer can't tell which sellers would take a significantly lower offer so you won't even get them through the door until you market your house at the lowest price you can manage.

We have just accepted an off from our third viewers in ten weeks, the first viewing came early on, the second after about four weeks (and a 10k reduction) then nothing for weeks so we dropped another 15k.....which made a total of 10% lower than our intial asking price. The offer we accepted was 16% lower than our starting price ten weeks ago and was made within 48hrs of dropping the price again.

We may have just been very lucky (I suspect we have judging by other tales on here), but harsh as it seems there are always going to be people like us who will drop quite quickly to try and get their sale so if you hold out on price you will be in for a very long wait I think.

brit1234

confused31 wrote: »

If you read the full post, i was not asking why my house has not sold, i was asking when the market would stabalise and when would the first time buyers come back#?

Its going to be a couple of years at least before FTB come back on mass. It takes time to save the deposits needed now and also the more prices come down the easier it is to get that deposit.

confused31_2

confused31 wrote: »

Ive got my house up for sale, its been up for 7 months and we have had 3 viewings, when do you think the prices are going to bottom out?

I think there are not may people out there buying as they are scared of loosing a lot of money on buying a property, not so much for people like myself who are moving up the housing ladder and already own a home.

But there seems to be no first time buyers out there, i understand i will have to drop the price on my house to sell, but i think its all down to when the first time buyers will be back.

Im not in a rush to move, but some people are saying 2 years, which i dont mind waiting, but when do you think the first time buyers will be back? and the so called house market crash end?

confused

For anyone who has said the answer is drop your price where do i ask in the original post ?why havent i sold my house?

I know i will have to drop my price whether i do it now next week or next year is of no relevence to the question i asked, so why do people keep on coming on you need to lower your price?

Im in no rush to sell, but i know there is a problem as there are no first time buyers out there irelevent to how much houses cost.

Im asking when do people think first time buyers be back and there will be confidence for first time buyers to start buying again?

We all know theres no first time buyers out there, so until they come back poeple will struggle to sell their house as First time buyers begin the chain that everyone else who is selling their house relys on.

Confused

Eon4

Very sorry nobody has the specific crystal ball to answer you.... but your post was entitled "when will people start buying again?" and those of us taking the time to offer you advice are saying that people still are buying when the price is right........that will include some first time buyers!!!

confused31_2

Eon4 wrote: »

Very sorry nobody has the specific crystal ball to answer you.... but your post was entitled "when will people start buying again?" and those of us taking the time to offer you advice are saying that people still are buying when the price is right........that will include some first time buyers!!!

look mate no one needs a crystal ball if you lower the price of something it will sell thats common sense, you might have sold your house and you may have dropped it 16%.

The title was there to attract people to the post. if they can not be bothered to read the full post, then dont bother posting a reply.

On what basis do you get your information there are first time buyers out there?im very patient and like i said im not in a rush to sell, you sound like you are desperate to sell.

Just wait until the day comes when you are going to exchange and they ask for another 10,000 off or they will pull out as this is happening more and more especially if the buyers can smell desperation.

Good luck with your house sale#

confused

cells

confused31 wrote: »

look mate no on needs a crystal ball if you lower the price of something it will sell thats common sense

the number of times i have read on msn "the agent said dont drop the price as nothing is selling" makes me weep for this nations common sense.

when i look around i sometimes ask myself "this nation once controled the world?"

Eon4

confused31 wrote: »

look mate no one needs a crystal ball if you lower the price of something it will sell thats common sense, you might have sold your house and you may have dropped it 16%.

The title was there to attract people to the post. if they can not be bothered to read the full post, then dont bother posting a reply.

On what basis do you get your information there are first time buyers out there?im very patient and like i said im not in a rush to sell, you sound like you are desperate to sell.

Just wait until the day comes when you are going to exchange and they ask for another 10,000 off or they will pull out as this is happening more and more especially if the buyers can smell desperation.

Good luck with your house sale#

confused

Nice.... thanks....you're right though , I shouldn't have bothered, am off now.

confused31_2

This is a statement from october 2007, which is well over 8 months ago, it seeems to have got worse, thats why i was asking about first time buyers

Friday, 19 October 2007

Where have all the first time buyers gone?

They are all renting wisely waiting for the inevitable housing crash. Currently, only 8.8 percent of house purchases are accounted by first time buyers. In more normal times, such buyers took up about a quarter of the market. The disappearance of first time buyers is a red light flashing market over-valuation.

However, the lack of first time buyers isn't the only sign of an over-heated and bloated market. Houses are taking longer to sell, transactions are increasingly falling through, and houses are staying longer on the market.


confused

bo_drinker

Either 1 drop the price if you want to sell or 2 take the board out of the ground. Unless of course you want to look at the board for the next 12 months..... simple.
The fact that you are not in a hurry does not matter 1 hoot to the few buyers who are about.

sparvar

FTB's are scared - Understandably so with the amount of hysteria in the papers over the banks lending out stupid amounts of money so they can rake the nmoney in - although now big brother is back though sure they'll find other things to talk about

It's going to be at least 6 months until the market starts to come back, I've just put mine on the market, not too bothered when I move to be fair but I certainly won't drop the price significantly (put it on for 10% lower than it was worth last christmas anyway) and I think some buyers thinking that prices will half are living in a dream world.

Suppose it's just playing the waiting game now... The only people laughing are landlords!