What is the housing market doing/going to do?

[NinkyNonker]

We are on the market, wanting either a bigger house or one with the potential to be bigger in the future. We have had a complicated offer about £5k under what we had thought our minimum was, which puts it at the price we paid in 2007.

We are pragmatic about selling prices, as if we sell in a low we buy in a low so it is all relative.

But what is the feeling out there on what the market is going to do? Bottom out massively? We would be looking to stay put in next place for next 10 yrs minimum really.

If you bought in 2007 then surely you bought at the top of the market and should be pleased to recoup what you paid? Unless you're in London, of course.

Sorry, that was the year we got together...I meant 2009...the year we got married. I thought we hadn't been here that long!

2009 was a very different kettle of fish!

We bought in 2009 and sold in 2011. We had to take a 15K drop.

Well, we bought very low due to desperate sellers, we're not in the slightest bit bothered by what we we get as long as we can buy... The place is realistically priced going on selling prices of equiv properties in our very pricey area.

I was just wondering what the feeling was about what the market was doing? Whether it is worth going all out to keep thwart buyers, up our mortgage (to very manageable levels) for a bigger place with what the economy is doing...

It's the million dollar question, isn't it? I think with this economy you should just be as prudent as possible. We've just put an offer on somewhere, and my criteria (as ever) were:

• is it a house that's big enough for us to stay in for the long-term if it becomes difficult/impossible to move?
• is it a house we could get rid of quickly if we needed to?

I would be loathe to buy somewhere that had been lingering on the market, have to say. My mother has just bought a place in Scotland which has been on the market for two years, and my first thought when she told me was that I wouldn't have touched it with a bargepole unless I knew unequivocally that we'd be happy to be there forever.

It sounds obvious too, but crucial I think to try and buy somewhere which is just a very good example of what it is - so no buying a three bed house which has been squeezed into a four bed, or a place with no bath, etc etc... even in a slow market my experience is that good houses go, and go fast.

Good luck!

I think ideally we want something like a bungalow on a reasonable plot, living near retirement-ville means we may have a few to choose from! DH has experience of converting them, and that was we would get space around us and room to grow as and when we have more money.

We've only been on the market a couple of months really, and are having lots of interest...we're just a little impatient and loathe to look a gift horse in the mouth in the hope of a better offer that may or may not come. I am pregnant, due and of April and whilst it really isn't a big deal I'd like to not be in limbo when they appear!

I read a really interesting article recently which suggested that as a vendor you'd be mad to turn down a decent offer - what has been happening a lot is the vendor turning down such an offer, only to find they quickly become seen as a property that's been around a while and no-one else interested in making an offer. In your circumstances I'd be inclined to do the same! Do you know why no-one has made an offer yet?

We have a couple of first time buyers interested who are struggling with mortgage providers apparently, which going by the experience of my little sister wouldn't surprise me! Our initial agent was pretty crappy in hindsight, rubbish pics etc so the first month was a write off with few viewings. Since sorting that, taking on a second agent and getting new pics (I wish DH had listened to me sooner!) we have had an average of 3 per week over last few weeks, with great feedback.

I think we're going to accept, on the proviso they sell within their declared time frame (their place has a bidding/application deadline of mid Dec) and that they have the survey done to show intent. Perhaps say we won't take it off the market till this Dec deadline.

They really do love the house so I trust they're serious.

Sorry, I somehow missed the bit where you had an offer on the table! What do you mean re. their place - they've put a limit on when offers can be made? (That's what our vendors just did... I thought it was a bit odd in this climate!). So is it the case that theirs is on the market but not under offer?

It is a shared ownership place apparently, so it has to be sold by this date in Dec. I know nothing about the scheme to be honest. They also have their mortgage in place and the agent is chatting to them for more details on the closing date etc. Things are never simple eh!