Are there actually many buyers out there at the moment?

[egypt]

We are about to put our house on the market......anyone in the same boat and finding that they are getting viewings/offers or has it gone stagnant?

we have reduced ours nrly 10% to what is was valued at last november.

I think quite a few of our potential buyers have been reading "now is the time to trade up" press without actually working out the reality of it. For some reason they seem to think that they do not need to reduce the price on their two up/two down but that a good sized family home should be!

I must say, I fail to understand vendors clinging on to achieve their fantasy valuations. What on earth do they think is going to happen in the next 6 months?

This is only going one way:

• The bottom end of the market started to go months ago with a large increase in repossessions.
• The top end is going, with millions wiped off prime properties in the 'best' london locations.
• And now the mid-market are facing redundancies across numerous sectors and few families have more than a few months savings.
• Interest rates aren't going anywhere but up, and there's the chance of at least one more bank failure to undermine confidence further

This is going to be a car crash, and it's going to last at least 2 years.

We were about to buy a property and the seller has now reduced by £125k to persuade us to go ahead. Another house we liked has dropped in price by £200k. BUT it would be financial madness to buy at the moment.

As DH keeps saying to me - people are just being greedy. Five years ago they'd have been delighted to get £500k for their five bed edwardian house which they bought five years before that for £300k. Now they think that they are entitled to £800k.

I sympathise for those few people who have bought in the past couple of years at inflated prices. However unless they really streteched themselves beyond their means they will be fine if they can sit tight for ten years. The only people who are really in trouble are those who bought recently at high prices and now have to sell quickly.

That was a general observation by the way OP not a comment about you

we bought 3yrs ago and got a bargain - but it needed lots of work - now work is done - but we still want to move! itchy feet all the time!!