Desperate EA

[unemployed]

27th June 08

Is now really the right time to buy?

Whilst even the most optimistic estate agent would struggle to provide evidence that it is business as usual and market conditions are perfectly normal, there is a real opportunity here for buyers who are motivated to move to get a really good deal.

More choice than in the last five years, which means you are not competing against five or six other people for the same home*.

Many sellers are listening to realistic offers and if you have your finances in place, this puts you in a very strong position.

Trading up? The price gap between your home and the home you want to buy has been falling for the last six months*. So even if you reduce the price of your own home you don’t have to lose out.

If you are a first time buyer with a deposit you are a king in this market. Not only are house prices falling, estate agents and sellers will love you because you have the finance in place and no chain.

Don’t be one of those people who said, “if only I’d bought five years ago I could have got a home for much less.” With reductions of 10%, 15% and even 20% then maybe now is the time to make sure you are not repeating this conversation five years from now.


Regards,


The Barnard Marcus Team


* Rightmove House Price Index June 2008
**Land Registry data on average prices of properties from maisonettes to detached properties in England & Wales from October 2007 to April 2008

 

[Pickle2]

With reductions of 10%, 15% and even 20% then maybe now is the time to make sure you are not repeating this conversation five years from now.

are lumped with 30%, 35% or 40% negative equity five years from now.

 

[Peoplesoft bloke]

I'd be happy to move and trade up if my Estate Agent could sell my house, but they can't.

 

[unemployed]

I'd be happy to move and trade up if my Estate Agent could sell my house, but they can't.

Drop the price simple.

 

[Old Greg]

We lucked out and sold at the price we wanted in April. Now renting

 

[Peoplesoft bloke]

Drop the price simple.

Oh genius!

1. I already have slightly more than the indices suggest prices have fallen.
2. It didn't help.

 

[unemployed]

Oh genius!

1. I already have slightly more than the indices suggest prices have fallen.
2. It didn't help.

I would be more inclined to look at last land registry figures for your street.

Got a post code ?

 

[Pickle2]

Oh genius!

1. I already have slightly more than the indices suggest prices have fallen.
2. It didn't help.

The indicies are lagging indicators. The properties that sold a couple of months ago were probably the ones that stood out as bargains. This month the same property at the price would no longer stand out as such.

Lop 15%-20% off your place now, and get it shifted. Otherwise you will just chase the market all the way to the bottom.

 

[Peoplesoft bloke]

I would be more inclined to look at last land registry figures for your street.

Got a post code ?

Oh FFS

I already did that - and yes I have a postcode. Who appointed you my property expert?

 

[unemployed]

Oh FFS

I already did that - and yes I have a postcode. Who appointed you my property expert?