In this short blog, I’ve got just a 3 minute read to roundup…
- What we have been doing to help sellers and buyers in this strange market
- What is happening right now in the housing market
- What is going to happen next?
- Is now a good time to move?
- What sellers and buyers need to act on now.
There are lots of statistics and facts circulating around Rightmove, Halifax, Land Registry etc. with everyone trying to predict what is going to happen next with the housing market but the simple answer is that nobody knows.
I have given up making housing market predictions ever since the first boom after the first lockdown, because who would have thought that house prices would have increased so much during a pandemic?
To solve the pricing issue and help make decisions, we have been matching sellers and buyers using the Guide Price method for several months now as opposed to the traditional method of providing an asking price. If you want me to explain then please just get in touch with me.
This is my take and opinion on the housing market at the moment…
What is happening right now?
If you are looking to buy or sell a property at the moment then you will be well aware that demand is currently outstripping supply by quite a significant amount.
It is quite common at the moment for there to be 10-30 buyers looking at any property we market ‘for sale’.
Despite the stamp duty holidays ending property buyers do not seem to be phased and are still buying.
Any property that comes onto the market in any price range, providing it is priced correctly, is selling extremely quickly and in our case, often for more money than first expected.
If anything, we are suggesting that our sellers do NOT sell quickly at the moment. In fact, we are insisting on a minimum marketing time of 7-10 days before conducting viewings using our unique marketing Guide Price method.
Our method also benefits buyers because it gives everyone a fair chance to get a viewing secured in their diary without having to rush and have the fear of missing out on properties with us. We don’t sell to the first buyer through the door.
Many of our buyers have been grateful to be given the opportunity to offer and tell their own story to the seller – it is a much ‘fairer’ experience.
To truly understand the value of a property at the moment, you have to be patient both as a seller and as a buyer.
Our marketing and Guide Price method allows our buying audience to decide what a property is worth, and our sellers appreciate it.
We will continue this method for the foreseeable future and into the New Year no doubt.
If you are looking to buy a property and have questions or concerns about the process or if you are thinking of selling your property and have any concerns about moving at the moment and want to know more about the value of your property and the ‘best price’ method to adopt then feel free to give us a call on 01327 878926 or pop into our new offices at 2 James Watt Close, Daventry, NN11 8RJ where we would be more than happy to make you a cup of tea and have a chat.
Is it a good time to move?
Absolutely. Whether you are looking to buy or sell, property market trends are all relative.
There is no such thing as paying too much for a property at the moment.
Properties are selling above the marketed price because the housing market has increased – this does not mean you are ‘over-paying’.
Don’t forget … If you are buying a property with a mortgage or if you are having a survey, the surveyor will soon tell you if you are paying too much for a property.
The market has quietened down with new properties for sale because sellers are scared to commit to a sale because they may not find anything to buy.
Do not mistake this as the housing market taking a turn.
As estate agents, it is our job to simply reassure those sellers who are looking to move that they will not become homeless if it takes them a while to find a property to buy. If you too have any anxious moments and want to discuss, then give me a call.
The property market needs more sellers to come to the market to benefit both sellers and buyers. The more properties that come on the market now, the calmer things will be and the easier it will be to move.
What is going to happen after Christmas?
I feel that once Christmas is out of the way, more sellers will come onto the market in January.
If you are a seller I would do the opposite to everyone else and be ready before Christmas.
On Boxing Day last year we listed 10 new instructions and sold them before the January rush using our bespoke marketing and ‘Guide Price’ method.
So, what does this mean for sellers?
Ideally, you want to sell BEFORE the January rush. The more houses on the market, the more competition there is for you. Even if you decide to come to market on Boxing Day as we did for many clients last year, you will still beat the January rush.
We will be in the office between Christmas and the New Year to assist you with this.
If I was looking to move in the next six months, I would look to market before Christmas, be ahead of the crowd, and place yourself in that enviable position to be able to buy before or after Christmas when the general housing market will come alive.
Makes sense doesn’t it when you think about it?
What does this mean for buyers?
This busy market isn’t going away anytime soon, so continue to view new homes. If you struggle, then talk to me about my ‘Buyer representation’ method. Not only are we trained negotiators but ‘I will hold your hand’, so to speak, and, if I’m not the right fit for your needs, I will pass you to a colleague that is.
Before viewing a property, make sure you have fully read the details online and understand the property, if you don’t, ask the agent selling it for more information.
Make sure you have your funds in place ready because you will be asked for proof of funds if you place an offer on a property. If you are having a mortgage, make sure you have a mortgage in principle in place. If you would like some help or just not sure, then feel free to give me a call. Just a few minutes help from me or a colleague will inevitably save you some time and probably money – and definitely save some of those anxious moments!I and my colleagues just want you to know that we are here to help you as we navigate through changing times.
If you do want to have a chat about the current market whether you are a seller or a buyer, please feel free to give us a call in the office.
I am always around for a cup of tea.