Here is the property news [bong](12 Posts)
Which is that the market is as dead as the deadest thing ever. And then a bit more dead.
I've just gone through all the properties that fit our search (i.e. in our town big enough) which are recent listings on Rightmove in the last fortnight. There are 20, and I've checked them all out on Propertybee.
10 are price reductions
5 are houses which had been sold STC but the sale has fallen through.
Leaving just 5 which are really new - and even one of those has been on sale for ages but the estate agent is just fiddling with the listing to make it show up again.
I really, really want to buy a house, because we're in a rented house which has just been sold and so we are homeless in 2 months and I don't want to have to move twice more. But even the estate agents are saying that there is nothing. Aaaaargh.
And I know that nothing is going to sort this out, I just wanted to vent a bit.
But there are those 20. Are none of them suitable?
So just to make sure I've got this right - you're complaining because as a potential homebuyer, you're seeing lots of homes being reduced in price? And you still want to buy? Seriously though, I was in this situation quite a few years ago and as a result we moved to another rental which was sooo much better suited to us that I actually thanked the LL later for giving us the kick up the backside we needed. It is stressful at the mo but it will work out for the best
Surely it's a buyers market at the moment?
Things are moving slowly which means you're not rushed into offering.
Prices are falling.
Mortgage rates are the lowest they've been for years.
I would imagine there's only a problem if you plan on buying a property as an investment and plan to move again within a few years. If you're looking for a long term home then the property world is your oyster!
Alabama - I think we're coming round to the same conclusion! Good to hear it worked out for you. Half of me thinks that it may be a blessing in disguise, half of me just wants a house that I don't have to move from again.
Sidge - the problem is that we are going to be rushed into offering - either that or find another rental, as our current rental is sold stc.
BLNN - sadly, not one. We wanted to move for one more room and a bigger garden, and at the moment can only have one or the other, not it seems both.
But no one is putting their house on the market unless they really have to right now, and property is so thin on the ground that the estate agents round here are still leaving the sold properties on right move just to make it look better - we completed on our house in the summer, but it's still on the EA's website as SSTC...
I would find roads with houses which suit your requirements and do a leaflet drop through the doors!
Seriously, it's very likely that there are people who would like to sell but in the current climate don't think it's even worth putting their houses on the market.
It's worth a try.
Def do a leaflet drop. We just completed on a house we found this way.
Interesting thought - and particularly interesting to hear that it has actually worked for you! We were wondering about that, but were a bit concerned that we would end up paying over the odds. But you're right, and it's not as though we have to buy the house just because we've put a letter through their door...
Its highly likely you would end up paying over the odds taking this approach. Think about it - someone whose house isn't on the market isn't going be a particularly 'motivated' seller and you've already shown your hand by effectively saying 'I'm so desperate to buy a house look what I've resorted to' - not the best way to get a good deal! Of course, if you are happy paying top dollar then go for it (and you will make one seller very happy of course!)
Not necessarily true alabamawurley - we have paid less for ours than anyone else in the street has paid for similar. Our place needs some work, but even factoring this in, it's still not a bad deal.
It's possible to happen on a motivated seller through leafletting - ours, for example, was a probate sale and it just so happened that the deceased owner's children were clearing the house on the day I dropped leaflets in. It suited them and us perfectly - they needed a quick sale, we needed a quick purchase.
As I found out, there are lots of people who are in the process of getting their houses ready to sell but may not have got to the point of getting the estate agents round yet.
Would third/fourth leaflet drop. There are potential vendors out there who don't want to spend all Christmas "on the market" but if there was a chance of a short chain would bite your hand off. It is the hassle of getting a complete chain that is a total nightmare at present. If I had a buyer of your ilk (ie chainfree) then that would probably be worth a fair few £££s to me.
Right, leafleting it is this weekend then!
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