Jump to content

What's the housing market like at the moment?

Recommended Posts

http://news.bbc.co.uk/1/hi/business/7336066.stm

 

 

Mortgage approvals at a 16 year low. First time buyers at the lowest level since 1975. Good to see that people are being cautious before jumping in at or near the top of the market.

 

not buyers being cautious, prob can't raise the finance through lenders being cautious

Share this post


Link to post
Share on other sites

hope its not too personal a question, tomatoheed.....are you selling to buy another house or selling up to get out of the market?

 

you don't need to answer if you don't want to.

Share this post


Link to post
Share on other sites
hope its not too personal a question, tomatoheed.....are you selling to buy another house or selling up to get out of the market?

 

you don't need to answer if you don't want to.

 

Selling up, but not to get out of the market - Moved in with my partner, and we don't need two houses. I would love to be buying now - not because I would expect a bargain, but because I'd actually have time to view a few and make a decision in my own time. When I last bought in 2002 it was a feeding frenzy. I seem to have picked the worse year to sell !

Share this post


Link to post
Share on other sites
Selling up, but not to get out of the market - Moved in with my partner, and we don't need two houses. I would love to be buying now - not because I would expect a bargain, but because I'd actually have time to view a few and make a decision in my own time. When I last bought in 2002 it was a feeding frenzy. I seem to have picked the worse year to sell !

 

It's just a different market. The house may not sell for as much as it would have sold for last summer, but it will sell for more than it would have done the summer before. The same principals apply: make it look nice, sell it's positives, explain away the negatives and it will sell.

 

In the long term, the few thousand you're going to be down in order to bag a quick sale is going to be pretty meaningless and you may end up taking a bigger hit if you aim for too much.

Share this post


Link to post
Share on other sites
It's just a different market. The house may not sell for as much as it would have sold for last summer, but it will sell for more than it would have done the summer before. The same principals apply: make it look nice, sell it's positives, explain away the negatives and it will sell.

 

In the long term, the few thousand you're going to be down in order to bag a quick sale is going to be pretty meaningless and you may end up taking a bigger hit if you aim for too much.

 

 

Hopefully. The agent has admitted that things are very slow, with fewer buyers around, and also that dropping the price is unlikely to have any effect. For whatever reason - either caution on the buyers or the lenders side, there do not appear to be many buyers out there....but I only need one buyer ! I'm generally a "half full" person...

Share this post


Link to post
Share on other sites
Hopefully. The agent has admitted that things are very slow, with fewer buyers around, and also that dropping the price is unlikely to have any effect. For whatever reason - either caution on the buyers or the lenders side, there do not appear to be many buyers out there....but I only need one buyer ! I'm generally a "half full" person...

 

As you have said you only need one person to fall in love with your house and you have a sale. There are buyers out there who have the money/mortgage approval to buy, you just have to work that bit harder to get there attention as there are so many properties on the market at the minute. (No doubt helped by the doom mongers around)

 

Many areas of Sheffield are still proving popular and prices are still holding on. It is the people who are desperate to sell who are pushing prices down by lowering their asking prices. People have been scared by the doom and gloom writings in the tabloids and have not done a little research of their own. The tabloids rarely offer all the facts just the few figures that make a good headline.

Share this post


Link to post
Share on other sites
(No doubt helped by the doom mongers around)

 

Its a bit like scooby doo isn't it?

 

I'd have sold my house if it wasn't for those pesky doom mongers!!!

Share this post


Link to post
Share on other sites

there are still a lot of cash buyers around , so the credit crunch doesn't affect them . We have just had a cash buyer look at one of our houses , but their offer was stupid and rejected.

Share this post


Link to post
Share on other sites
As you have said you only need one person to fall in love with your house and you have a sale. There are buyers out there who have the money/mortgage approval to buy, you just have to work that bit harder to get there attention as there are so many properties on the market at the minute. (No doubt helped by the doom mongers around)

 

Many areas of Sheffield are still proving popular and prices are still holding on. It is the people who are desperate to sell who are pushing prices down by lowering their asking prices. People have been scared by the doom and gloom writings in the tabloids and have not done a little research of their own. The tabloids rarely offer all the facts just the few figures that make a good headline.

 

Yeah, the whole credit crunch and falling values isn't down to over pricing and inappropriate lending, it's just doom mongers.

Share this post


Link to post
Share on other sites
Yeah, the whole credit crunch and falling values isn't down to over pricing and inappropriate lending, it's just doom mongers.

 

aye and those tabloids like FT and the economist :rolleyes:

Share this post


Link to post
Share on other sites
aye and those tabloids like FT and the economist :rolleyes:

 

The tabloids play up the stories to make big headlines and sell more papers. They fail to mention that not all areas are suffering big price decreases and that not all mortgage providers are pulling every product they have. This doesnt make good stories though does it.

 

Yes there are credit problems at the minute but this doesnt mean that everybody should sell up and move on. People should just stop panicking. For the vast majority of people there is no need to worry and it shouldnt have any lasting effect on their finances. Credit may be more difficult to get hold of so stop spending like there is no tommorrow and live with in your means.

Share this post


Link to post
Share on other sites

but do you agree that it wouldn't do first time buyers any harm to sit tight and see what happens to the market before jumping in?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.