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Original poster

Anyone not being picky - and STILL can't find anything?

999 replies

PessimisticOptimist · 11/09/2021 12:03

We've been on the hunt for 18 months. In that time, we've expanded our search area and budget. We've offered on four houses - three times we were outbid by developers and one time they decided not to sell. But nothing has come on for us to view in the last couple of months.

I guess I'm looking for a support group on here to commiserate with me 😂

Everyone we talk to says:

  • The market is crazy right now
  • It will settle down
  • More will become available eventually
  • Just be patient

But I worry about getting priced out of the market if we wait too long. How long do we wait for the "right" house?

OP posts:
Thread gallery
6
Paddingtonthebear · 03/12/2021 18:00

Yes it could just be taken off the market completely or they are switching to another agent

Starseeking · 03/12/2021 18:44

@Paddingtonthebear

Yes it could just be taken off the market completely or they are switching to another agent

That's exactly what it is, as I have one of these. Made a RM favourite of a well overpriced property back in May. Property on at £735k, I offered £670k which was pooh poohed by the vendor as ridiculous. Fast forward 6 months, said property has moved agent, I've also favourited that one. It's reduced price twice, first to £699k, now languished at £675k for the last 3 months, and it's still overpriced. I had a lucky escape when they refused my £670k offer, although I bet they wish they'd accepted it now Grin

Starseeking · 03/12/2021 19:01

I've finally made it onto the pre-RM list for one particular agent. I've been convinced to go and see a property £100k over my budget on the basis that:

  • the property 'needs work'
  • the family are 'keen for a quick sale'
  • they will take an offer
  • the last property sold on that road (earlier this year) was in my budget
  • it's another probate, already granted so no chain

I'm convinced the EA is using the viewings they've booked in to test the market of what they should price at, should they not get the pie in the sky price they've suggested.

My main issue with it is that it has NO kerb appeal as it is a 70's detached house through and through. The whole cul-de-sac of 20 properties is the same style. Not sure if I could learn to love that style, but I'm going to see it anyway.

Starseeking · 03/12/2021 19:04

Good luck to everyone going for viewings tomorrow. Collectively we've all seen so many properties now, that it's hard to get too excited beforehand this many months in.

areyouhavingagiraffe · 03/12/2021 20:28

I think if they have switched to another EA, they will likely be liable to pay fees for the EA they had signed with. I think that's what most contracts say.
Oh well.

Starseeking · 03/12/2021 21:07

@areyouhavingagiraffe

I think if they have switched to another EA, they will likely be liable to pay fees for the EA they had signed with. I think that's what most contracts say. Oh well.

From memory when we were selling, if the exclusive 12 week initial period for sole EA1 was finished, you only had to pay fees to them if the buyer ended up being a person who originally saw the property through EA1. If it's a purchaser who came to you fresh through EA2, then you as the vendor don't owe EA1 a penny.

As it happens, we only had a sole EA who got us from initial marketing to sale completion in 10 weeks, but I read the small print in their T&Cs at the start, just in case!

Doubleraspberry · 03/12/2021 21:07

It all sounds ridiculous. What craziness.

If house prices outside London are rising, does that mean they’re not rising IN London? Wouldn’t surprise me!

DaisyNGO · 03/12/2021 21:21

@Doubleraspberry

It all sounds ridiculous. What craziness.

If house prices outside London are rising, does that mean they’re not rising IN London? Wouldn’t surprise me!

I think prices are falling in london generally, not just my area

And even just outside...wasn't there a poster who paid 900k for a flat in Richmond or Kew..., needed to sell and was upset at the reduction in prices, which was quite dramatic for her place.

areyouhavingagiraffe · 03/12/2021 21:23

I'm in London. Fuck knows what is going on. I can't understand

Doubleraspberry · 03/12/2021 21:39

London is varied though obviously. My bit is definitely falling. Now, anyway. Although it’s still considered very desirable as a place to live apparently.

DaisyNGO · 03/12/2021 21:49

So now when north london and south london say to each other "you're goin' daaaaaahhhhhn" we are both right.

Starseeking · 03/12/2021 22:36

I'm in outer West London (zone 4), prices still rising marginally here, although not as fast as they were earlier before the SDLT frenzy. Over the last year, it's been 10%, as PP article pointed to. Grrrr!

saleorbouy · 03/12/2021 23:58

I think that prices will steady off or even fall again as the Bank of England interest rates rise to curtail the impact of inflation.
This will be a good opportunity for people in your position to buy. The markets always rise and fall so hopefully you will catch the wave at the right time.
It's incredibly frustrating but this recent silly season after being cooped up after Covid restrictions is strange. The market will come to its senses again soon.

areyouhavingagiraffe · 04/12/2021 09:12

@Starseeking, I'm other side, East London also Zone 4, and I agree they still rising, albeit I think the rate has slowed down. I am worried about what happens after Xmas but trying not to get anxious about it!!!!!

wannabeamummysobad · 04/12/2021 09:28

@Doubleraspberry

It all sounds ridiculous. What craziness.

If house prices outside London are rising, does that mean they’re not rising IN London? Wouldn’t surprise me!

DH flat (new build, no cladding, large roof terrace, private parking) is in east London Z4 and sold for asking within 2 weekends and was listed after the sdlt deals. Hopefully will exchange before Xmas

My flat (2 bed basement w private front and back garden, period conversation, on road permit parking) in west London Z4 went SSTC 2% under asking. Fell through on the day of exchange.

The house we are buying (5bed semi east London Z5) mortgage survey came in a few £k under our offer but the seller took the hit- we are waiting on the outcome of our building survey now

Really can't say what the market is doing at this point.

Paulina23 · 04/12/2021 20:41

Looking at north London zone 3/4/5, the vast majority of new listings are what seems to be the houses that no one want but yet at prices in line with the good ones that sold earlier this year during the post lockdown frenzy. I guess the only thing that would change the current status quo is a rise of interest rate, something we have not witnessed for 15 years.

FanGirlX · 05/12/2021 08:57

@saleorbouy

I think that prices will steady off or even fall again as the Bank of England interest rates rise to curtail the impact of inflation. This will be a good opportunity for people in your position to buy. The markets always rise and fall so hopefully you will catch the wave at the right time. It's incredibly frustrating but this recent silly season after being cooped up after Covid restrictions is strange. The market will come to its senses again soon.
Hopefully!

I'm also living with family, waiting for something good to come up. In the North, not London but prices up here are silly too.

Starseeking · 05/12/2021 10:15

[quote areyouhavingagiraffe]@Starseeking, I'm other side, East London also Zone 4, and I agree they still rising, albeit I think the rate has slowed down. I am worried about what happens after Xmas but trying not to get anxious about it!!!!![/quote]

I think we just have to sit back, relax and enjoy Christmas in our old houses/family houses, because it's unlikely anything will happen now on the house buying front until the new year now.

Eastie77Returns · 05/12/2021 12:58

How did it go for those of you who had viewings this weekend? Sending positive vibes/property fairy dust and hoping at least one of you found your dream, chain free houseGrin

This weekend I’ve had messages from 2 friends who I haven’t spoken to for a while and both asked how everything is going “in the new house” as the last time I spoke to either of them was early Summer when I’d had an offer accepted. They just assume I’ve moved and it’s tiring explaining everything. At least 3 work colleagues started looking after me and all have Exchanged and moved into their new homes. It just seems so easy and straightforward for other people!

Starseeking · 05/12/2021 15:53

I know what you mean @Eastie77Returns when it comes to people asking about how my move went/have I settled in to the house. I must admit there are a couple of social events I've not attended because I don't want to answer questions about the house purchase-that-isn't-quite-there-yet. I'll scream if I hear one more person helpfully suggest, can't you get your EA/solicitor to hurry it along NO, I CANNOT!!!

I'm going to offer on the place I saw this weekend, but with absolutely no enthusiasm, as I don't think I'll get it. It's a nice house, but my budget is £100k less than the EA has said it's going on sale for (I saw it pre-marketing brochures and websites). It has a probate already granted and chain free, but it does need work. The thing I have going for me is that I have finance already sorted, so if they want a quick sale, that might do it for them. The last house sold in that road of identical houses sold last year for less than I'm planning to offer, so it's not completely outlandish!

areyouhavingagiraffe · 05/12/2021 15:57

@Eastie77Returns, my viewings were shit. The first house I saw was okay, but people viewing were like vultures. EA was doing the viewings (like open house), and poor vendor (eldery man) was just standing in the hallway. I didn't know who he was so I decided to chat to him, and ask him. We had a nice conversation and he was telling me all about the garden. I felt sorry for him, as people were just in and out his house, and didn't even make eye contact. You could see it was difficult for him. The house was nice but the vultures put me off, and I could hear the main road from the garden. Second house was total pants with no potential.
Oh, and yes I feel you about the work colleagues. I didn't tell anyone at work so they are none the wiser, they never ask about my personal life. But if I hear another person telling me how they have just exchanged contracts and are moving....or how they are moving in with partners etc....I will go mental. I just move the conversation on, I know that sounds harsh, but I really don't want to know!

BennyBean · 05/12/2021 18:21

We have sold our house and paid the deposit to solicitors filled in the paperwork paid for the surveyor now i keep getting texts from the buyers asking random questions have you got this have you got that etc... loads of questions we haven’t asked our new house owners anything like this we just want the sale to go through buying and selling is stressful enough without this , it’s going to be a long stressful journey due to them!!

wannabeamummysobad · 05/12/2021 18:23

Why does your buyer have your mobile?

BennyBean · 05/12/2021 19:01

i know on hindsight we shouldn't have but they asked at the time of viewing

DaisyNGO · 05/12/2021 19:21

@BennyBean

i know on hindsight we shouldn't have but they asked at the time of viewing
What stage are you at, you say you've sold?

I would say all questions have to go via the solicitor.