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

[PessimisticOptimist]

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?

Can I join you please? I feel like I might have found my tribe.

Sold my house almost three years ago to a cash buyer who wanted me out in four weeks. Nothing on the market then, so I planned to rent while searching. Had a last minute wobble about how long I might end up in rental, so bought a tiny bolthole in a very desirable (and therefore much easier to sell) village to see me through my search.

Thankful now that I did, because three years later I am still trying to find something in my search area and the rental I had planned to move into was sold 18 months ago.

What I have discovered during that three years though, is that Rightmove, On the Market etc is not enough.

Discussing my situation with several Estate Agents I have come to understand that there is a whole other market. Numerous houses (20-30% according to one agent) in this area are being sold ‘Off Market’ to cash buyers.

The key to that market is proving you are sitting on cash and if necessary a DIP or have at least exchanged on your sale. It is also a good relationship with an Agent so that you even get the call.

The whole market is crazy. The Stamp Duty holiday has pushed prices up to a ridiculous level, people are taking on massive mortgages (I still remember when interest rates shot up to 15% +), houses are being bought on the basis of one cursory viewing, people are being forced into rentals to stop chains falling apart and in the process distorting that market for long term renters. Where does this all end?

There are many nights I rue the decision to sell three years ago and many mornings when my first thought is whether today will be the day something turns up.

I have viewed 5 properties in the last week. Properties I would never have entertained 5 years ago, all selling at extortionate prices. The decision I have to make now is whether prices will continue to rise like this, forcing me out of the market for the sort of property I am looking for, or whether I should relax safe in the knowledge that eventually things will calm down , prices will stabilise and more properties will come to the open market.

Still cannot find a property I like. I have looked online and at the local estate agent office. The whole market is in a slump right now. I have not been able to find many houses in the area I like so may have to venture further afield now.

Flyingsouthagain - that is the crystal ball you are asking for and it is not available ! We’re in a different world now, a pandemic world. No one would every have predicted this impact. I was convinced house prices would crash. Who knows if they will keep going up - or what will happen with interest rates ? I too remember massive interest rates but they’ve been low for decades now and that decision to not increase to a bigger mortgage has cost me dear. I wish I knew the answer. We live in a country when a home is an investment and it should just be a home and where high property prices suit the greedy capitalist society we live in . It stinks but it’s what we have . Now we have fewer people for the jobs there are wages will have to go up .... this government is delighted by all of this so I really can’t imagine prices going down. I feel agonised for people not yet on the property snakes and ladder ....
Thank goodness you bought somewhere. Keep looking for a home or at the very least an investment - no way to win on this game !

There's a fair bit coming on in my area, all in the last 2 weeks. High asking prices though, it will be interesting to see what they sell for. I spoke to an estate agent yesterday who thinks prices may drop over the next few months as the number of buyers on their books has dropped substantially.

Viewed a house marketed as offers over £250k, clearly overpriced going on other sales locally. No offers, even though it’s been on a month in a market where everything else is going to best and finals. I like it and am thinking of offering £225k, potentially getting laughed at by the agent but leaving the offer on the table should the owner get desperate. They have a place in mind but can’t offer until they are SSTC. WWYD?

@dubyalass

Viewed a house marketed as offers over £250k, clearly overpriced going on other sales locally. No offers, even though it’s been on a month in a market where everything else is going to best and finals. I like it and am thinking of offering £225k, potentially getting laughed at by the agent but leaving the offer on the table should the owner get desperate. They have a place in mind but can’t offer until they are SSTC. WWYD?

Go for it. Sounds like you have done your research. I read somewhere that if your first offer doesn’t make you wince - it’s not low enough. Be clear in your own head what your max is though before you start making offers.

If they need to be SSTC and have somewhere in mind then sounds like your offer might be welcomed …. also going into winter and less buyers / movement in the market they might also snap your hand off rather than wait until things pick up again in the spring.

Go for it !

Thanks! I would go up another £5k but no more, it isn’t worth any more than that. I don’t have to move, so I can sit tight and wait - and something more suitable might come on anyway. But I’d be quite happy with this one.

Hello tribe, just on here for my daily rant. So, another house on the market here, left a message for the EA to view. Nothing special, but extended 3 bedroom in area close to station so thought it would be worth a look. Anyway, EA said "it is proving very popular, and we have had over 50 requests for viewings", and "the sellers have already seen somewhere they like" (not sure how that happened when it is hard to even get viewings without being sstc). Anyway he then said "we have viewings next Saturday and Sunday, only a few slots available for Sunday". I am actually away next weekend, and I asked whether it was possible to see during the week. He said I could call back next Monday to see if it is still available but " it is so popular", so I said "I will just wait for the next one, no big deal", was pretty chilled about it. I said I wasn't going to be cancelling my weekend away. My blood boils everytime I speak to an EA, even though I try and remain calm. Just their existence pisses me off, ha ha. They are such fuckwits. I have noticed how you can now get a viewing without giving any details of your position, previously they wanted to know everything.
Anyway just on here to rant, does anyone else feel like this? Also, has the housing market always been like this, or is this still covid, stamp duty hang up? I literally am so gutted and feel like I am stuck. But then I thank my lucky stars that I have sold my flat for a good amount (flats are problematic due to lease issues) and I am staying with my folks rent free. But part of me worries that maybe I will be stuck here until I am 90 years old....Someone give me some words of wisdom please

@areyouhavingagiraffe Oh hun I'm so sorry! It think we all relate to that feeling. The good news is you've sold your flat and you have somewhere to live rent free. That's amazing! I know it's still super frustrating and you're worried you'll get priced out. The market feels impossible, doesn't it?

I'm finding estate agent organising viewings a bit odd - when we signed up they said they'd arrange viewing at any time within reason and made a big thing about working on Sundays. We've made clear we're happy to allow viewings any day of week until 7.30pm. Now our house is actually on the market and the first viewing isn't until next Sat (we had said we were happy for it to take place yesterday or today). Now, maybe the person wasn't available this weekend but it feels like the estate agent is trying to cram them into a Sat for their convenience and was probably already doing this for a different house yesterday. The estate agent knows we want to sell quickly due to relocation.
We had six unofficial viewings last Sat before it went on the market which gave feedback that price slightly too high (so it's gone on market £15k lower in line with what those people suggested) and garden a little small (it's one of those with a more central location = smaller garden. The houses with bigger gardens are further from town centre and get traffic noise from bypass).

@sasparilla1

I'm in the same boat!

Long time renter with a healthy deposit plus my parents will give us a lump sum (the old "you might as well have it when you need it, you'll get it soon away").

First house we offered on, asking price - I was ecstatic when they accepted our offer. A week later they pulled out having decided not to move.

Everything we've offered on since, has gone for way over asking price and out of our budget. I'm still particularly bitter about the last one. It was perfect, and I loved it.

So back to searching, and there's absolutely bugger all out there to even view, and what there is either rubbish or massively over-priced with the EA's encouraging bidding wars!

In exactly same position as you @sasparilla1, even with my father waiting to give us his 'may as well have it now as its yours (inheritance) anyway'.

First house we saw and offered on, outbid by £11k but just as well as hubby's job ended up being in another city! But now we've relocated into rental again and we're going to start looking to buy in the next week or so. Haven't even seen a house I like let alone put an offer on one. I know that we can forget ones with 'guide price'.. they're definitely going to be out of budget and have about 10 prospective buyers. I can see us compromising like mad to get on the property ladder. Gone are the days when you were competing with maybe just 1 or 2 other buyers and could offer £5-10k less than the asking price - that just doesn't exist anymore. It sucks.

@areyouhavingagiraffe

Hello tribe, just on here for my daily rant. So, another house on the market here, left a message for the EA to view. Nothing special, but extended 3 bedroom in area close to station so thought it would be worth a look. Anyway, EA said "it is proving very popular, and we have had over 50 requests for viewings", and "the sellers have already seen somewhere they like" (not sure how that happened when it is hard to even get viewings without being sstc). Anyway he then said "we have viewings next Saturday and Sunday, only a few slots available for Sunday". I am actually away next weekend, and I asked whether it was possible to see during the week. He said I could call back next Monday to see if it is still available but " it is so popular", so I said "I will just wait for the next one, no big deal", was pretty chilled about it. I said I wasn't going to be cancelling my weekend away. My blood boils everytime I speak to an EA, even though I try and remain calm. Just their existence pisses me off, ha ha. They are such fuckwits. I have noticed how you can now get a viewing without giving any details of your position, previously they wanted to know everything. Anyway just on here to rant, does anyone else feel like this? Also, has the housing market always been like this, or is this still covid, stamp duty hang up? I literally am so gutted and feel like I am stuck. But then I thank my lucky stars that I have sold my flat for a good amount (flats are problematic due to lease issues) and I am staying with my folks rent free. But part of me worries that maybe I will be stuck here until I am 90 years old....Someone give me some words of wisdom please

Are you dealing with chain agents of local independents? I have found a massive difference between the big chains and the local ones. Local ones who have run in our area for 25+ years are just really practical and don't mess you around. Foxtons etc are so awful to deal with- really pushy and trying to hype things.

I hope the perfect thing pops up soon!

@catsjammies, am dealing with local independents and chains. I am in London so lots of different type of EA. I honestly don't know whether things are starting to cool off or go pear shaped....

@PessimisticOptimist, thanks I needed to hear that! Any joy your end?

Someone got the house before I did. So annoying. Am going to take a break from the constant Rightmove refreshing - the agent at the house I viewed at the weekend said she wanted to put her place on the market but there was nothing to move to, so what was the point. But if everyone is thinking like that, it gives me the fear about paying inflated prices due to lack of supply, and then the market being flooded and prices dropping later on.

it's the same here i look on the property market every day hardly anything new is coming on and the usual ones are stuck there that no one wants, popular ones sell straight away the market is crazy at the moment our detached bungalow is going onto the market next month we are worried there won't be anything for us to buy as we now want a house

[quote areyouhavingagiraffe]@PessimisticOptimist, thanks I needed to hear that! Any joy your end?[/quote]
Yeah we had an offer accepted, which is cool. But now I'm absolutely wetting myself because I don't know if we'll get a mortgage for the amount we need. I feel like we're SO close. But my husband is an IT contractor, and every bank seems to calculate the salary multiplier differently. So we're working with a broker and hopefully we'll somehow get what we need. I told hubby we can't do anything fun or remotely spendy until we have a mortgage offer in hand.

There's been nothing remotely decent on the market since our offer was accepted. So many others on this thread said the same thing about slim pickings in the market right now. If this house falls through, I don't know when we'll find another. :O

I'm doing a whole lot of praying and needlepoint to distract myself, lol.

@dubyalass

Someone got the house before I did. So annoying. Am going to take a break from the constant Rightmove refreshing - the agent at the house I viewed at the weekend said she wanted to put her place on the market but there was nothing to move to, so what was the point. But if everyone is thinking like that, it gives me the fear about paying inflated prices due to lack of supply, and then the market being flooded and prices dropping later on.

Boooo! I'm so sorry @dubyalass. The market seriously sucks right now. Fingers crossed you'll get something soon.

Thanks @PessimisticOptimist, it's a bit annoying but it was going to be a cheeky offer and I'm of a mind that it wasn't the right house for me

I have a roof over my head, I'm warm and cosy; things could be worse. Maybe this means I'll get my dream gorgeous period property instead... Yeah right 😁

@PessimisticOptimist, that's amazing news and I am keeping everything crossed for you. Please pray to the property gods and send my way :-)

My daily woes....Just had an e-mail re: property. Called EA. Just one more slot on Saturday. I'm away this weekend. Why is there just one slot, I am registered with them, they sent me an e-mail and I jumped on it. Guys, this is just a joke now. Am sitting here crying like a baby feeling so emotional. I am so scared I am just stuck for life now. I have a helthy budget, cash in the back, mortgage offer, but this doesn't seem to mean anything. I hate it so much.

giraffe - that’s very hard to take - what a terrible system EA’s run - they must be laughing all the way to the bank these days. Well it won’t last forever and you won’t be stuck for life, something will come up. I always catastrophise myself so I know how desperate this feels right now. If you really think this is the ouse for you give up your weekend but if your weekend is really very important then just go and forget about this house. Putting live on hold to look at houses is shit - we’ve been doing it all summer to look at things a 6 hour round trip away - videos are good but you have to look too. I’m sure we are panic buying - I’m certainly in a panic . Hope you feel better soon .

@marymay62, thanks. No, I don't think it is the house for me. And I have a lovely weekend in Oxford planned which I am not going to cancel. Yes, I too catastrophise everything. I just think I am never going to find anything and will be priced out. However, at the moment there is fuck all coming onto the market and even for the sheer shit that is coming on, you cannot get a viewing. This time last week I put in an offer on a cottage, which was accepted, but I pulled out 24 hours later as the transport logistics didn't work for me. I know things can change quickly but I am just feeling so down. I literally feel like an absolute failure at life at the moment, not sure why I feel like this

This is a really tough time - nothing like the stress of post (well let’s hope so) pandemic house buying fever - not sure how it all ended up like this with everyone going crazy. I cried buckets last week and I really don’t know whether it was for fear of moving or not moving . Not sure I know any more ! You don’t sound like a failure but I know it can seem like that when all goes ‘wrong’ and plans are frustrated . Plus feeling so angry at the ‘system’ doesn’t help - I try to be really polite to Estate Agents ( who are just doing their job I guess ) but it’s hard sometimes when stressed ... one told me they are just ‘following the rules re best and final

• what rules - it doesn’t have to be like that!! Also the miserable amount of time to look at a property with an estate agent - we’ve had our buyers around three times for hours so they could really understand what they were buying, bring family etc and been totally flexible on timing of viewing ms. We haven’t had that in return ! ’.My rant over ! You have a lovely weekend planned so I hope you enjoy that and come back fighting - house movers do have to be made of strong stuff at the moment .

Thanks @marymay62, much appreciate your words.