Selling/buying

[Promise22]

I am considering putting my house into the market now. Is the market completely stagnant? Do you think it wont sell/ppl won't view it until after Xmas? Is it best waiting for the 'boxing day' launch?

It will be marketed at similar price as local properties on the market, it is beautiful inside (obviously biased as I own it!), but all materials of high quality as I didn't think we will be moving again now. Would that help the sale?

I know no one have a crystal ball🔮, but if you are in the same position or sold in the past leading up to the Xmas period please share your thoughts.

Area dependent

i am in a lovely SE commuter town and the market is still on fire

Family members put their flat on market and small house on marker Nov/Dec and sold with days/3 weeks. I think if someone is seriously needing to move then it can be a giod time as not so many properties on the market. However these were 1st time buyer and potential buy to let properties not family homes which may have made the difference.

Have you found somewhere?

I’ve just gone under offer after being listed for 3 weeks - one thing I have noticed is that the number of new “good” properties being listed has fallen off a cliff in the past 2-3 weeks so it feels as though people are choosing to now wait till post Christmas.

I’m out of London but chose a London agent which was more expensive but seemed to “get” my house more than local agents did (who were comparing my period house with high end finish unfavourably with dated new builds with laminate work tops etc and telling me that people pay a premium for newer properties). Who knows how much luck is involved with it all and of course it could all go wrong, but my advice would be to choose your EA carefully, you only get one chance to look fresh and enticing when you launch and it seems to me that unless a house goes under offer within the first month, it sits around for months and months gradually dropping the price and getting stale. In your shoes I’d be tempted to do all my homework now, get the listing ready to go with the most suitable EA, and launch when they advise is the best time.

I think it’s a hard time to sell a place leading up to Christmas. Personally I would leave it until January unless you’re desperate to sell

There is a property that I want to offer on. A major renovation project but will meet our needs with 3 teenage boys. Hence the question!

Just for context, I am in the south east and on a commuter town to London + great local/grammar schools, so great location. Love my current house but just a bit small for us!

How long will it take you to get it sale ready?

I think that’s really good advice @ibelieveinmirrorballs about choosing your EA carefully and not just going with the cheapest one necessarily but rather the one that talks sensibly about your property and can articulate its selling points.

I wouldn’t particularly take their advice about when to launch though. Only because EAs always seem to advise clients to put properties on ASAP. I think they just worry about Sellers changing their mind so want them to sign the paperwork to allow them to start marketing it straight away.

That update changes things somewhat because you can’t be taken seriously as a buyer unless your own property is at least on the market and preferably sold.

So if you want to offer on another house I don’t see you have much choice but to put your own property on the market and hope for the best.

I've been listed for 10 days and received 3 offers. I didn't expect it, and I imagine it's very area dependent.

If you've priced it realistically, it may well sell. The time of year doesn't necessarily change that.

The house is pretty much sale ready! All nice and tidy (just need to make sure teenage son's room is tidy!

Get it on the market and see what happens...! It's the only way you'll get the other house.

We are in a SE commuter town too. House valued on wed and EA said to wait until the new year.

BUT we haven’t found anything we want to offer on, so no rush. In your situation, I would put it on the market and see if you can sell/ get the reno house you want.

Put it on now. Market looks hot in the SE from my recent checks. If your property is properly priced and stand-out as you think, then it will sell.

Do have a look on RM in your area to see what properties - especially those similar to yours - have sold in the last 2 or 3 weeks and what price they were asking. Assume that they may have accepted offers up to 10% off the listed price.

Also check houseprices.io to see what your property and others are being reported as being worth.

Do NOT agree to an EA contract longer than 8 weeks. Ask them to price it to sell in that time.

Great, advice! Thank you

Definitely wait until after Christmas. Nothing is moving, and it's the worst time of year even without the financial crisis

What does anyone think about that Boxing Day thing - is it myth? Or should sellers have photos done before you put the tree up and then be ready to go "live" on Boxing Day (what are estate agents doing on BD anyway?!)

I found this link, which is interesting as it analyses when best to list property for sale by type of property.

https://www.theadvisory.co.uk/house-selling/best-time-to-sell-house/

The same link has data from right move that shows spike in online property viewings/searches on Boxing day and new year's Day. So I guess not a bad time to advertise a property online!

So, if December is ‘bad’ fine, a buyer might not come along until next year.. but your ideal buyer might be ready and looking now. What’s to lose?

Personally I think there are a lot of hits on Boxing Day only because loads of people are off work and some are a bit bored and some are fantasising about moving house. It doesn’t necessarily represent committed buyers seriously house hunting. So I think it’s a myth that there’s any real advantage in listing in time for Boxing day & would rather have a listing showing it went on in January 24 than 26 December 23.

It’s the biggest mistake when people have photos done showing a Christmas tree ( I know you’re not suggesting that). They age really fast!

It's a myth. The chart is pretty accurate. A lot of this Boxing Day nonsense is EA's twiddling their thumbs because they have nothing else to do in December and January.

Having said that, if you have a great offering at a compelling price, and you want to move then go ahead and list - w/o Xmas decorations.

I'm v sceptical about the Boxing Day thing - we were looking to buy two years ago in a v different market but with little suitable property on the market and were told wait, loads of stuff will come on after Xmas. Didn't happen!

Repeat for start of Feb/coincide with half term. There was a bit of a flurry around Easter but it wasn't huge. Possibly Boxing Day has more to do with bored people browsing online?

Your good quality/high end finishes - is it fairly neutral or more individual? We looked round some that had clearly had a lot spent on them but just not to our taste/lifestyle which made them a no. Ended up buying a fixer upper as we couldn't justify a high price for somewhere we'd want to change.

The house decor is mostly neutral, apart from the living room that has more of a 'maximalist' vibe which seems to be on trend nowadays. I appreciate its not everyone's cup of tea but an easy paint job...

Do you want to move before Christmas OP?

if so, I’m afraid that is highly unlikely considering yours isn’t on the market yet.

I am not in a hurry to move, but I absolutely love the house I found. It's a probate and if I go for it, most likely the move won't happen until march/Easter.

Am I right in thinking I can put an offer on the place once mine is on the market? Or do I need to wait until I have an offer?