The general perception of the housing market in November and December has always been portrayed as the quieter time to sell your home, this is not always the case.
One of the challenges I face in this market is encouraging potential sellers who are sitting on the fence to market their home sooner rather than later due to the high demand from buyers requiring property in the Hook area.
The residential market is generally lacking in all types of property coming to the market, however we don’t have a shortage of buyers, may of whom are in very good positions either having sold their previous property to be in a ‘ready’ state to snap up a property, or being able to enter the property market as a first time buyer, perhaps thanks to Help to Buy.
As there is such a shortage buyers are particularly keen and active, not just scouring property websites but calling the office or popping in on a regular basis to find out if anything new is coming to the market. These keen buyers are offering flexible timeframes to suit the seller to be additionally appealing and help facilitate the move they have been waiting for.
The market has changed, gone are the days when you could look around potential properties and if you liked one of them you would then decide to get a valuation, then put your property onto the market, sell it and then easily secure the property you were keen on. In today’s market due to the lack of stock there are far too many potential buyers that have already taken the plunge, with the view if they want to secure a property then they must secure a buyer for their property first, making them a more appealing buyer than one a seller has to wait for. With some properties selling exceptionally quickly it’s advisable to be in the best position as a buyer to take advantage of that opportune property.
Due to the recent launch of the Help to Buy Mortgage Indemnity scheme we have seen an increase of buyers and noticeably the first time buyer registering for properties. It’s not uncommon for my team to be speaking to a first time buyer with a price range of around £300,000 onwards.
My advice to any person who wants to move but hasn’t found a suitable house to buy would be this; Get your property valued accurately and place it onto the market.
The Estate Agent must make it clear to any potential buyer that wants to book a viewing that as yet the seller has not found a suitable property so at this stage we can not provide any timeframes, if the potential buyer confirms that waiting for the seller is not an issue because they are first time buyers or in rented accommodation, then the viewing is booked.
If an offer is made at a agreeable level the Estate Agent will confirm with both parties that offer is agreed subject to the seller finding a suitable property. You may find that when you go out looking that the seller again hasn’t found a property. You are now in a great position because you can offer the seller flexible timeframes.
Justin Smith, Branch Manager
01256 764666 firstname.lastname@example.org