It’s impossible to answer this question without knowing: 1. Whether there are other offers or not 2. The location and it’s market (eg every London borough is showing different market behaviour) 3. How realistic the initial asking price is 4. Whether it’s leasehold or freehold 5. Whether the seller is in a chain or not… Continue reading “Charlie what’s an acceptable below asking price offer in this market?”
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Negative equity is “doom”.
“A home for everyone” is my target. This includes the eventual eradication of homelessness. People losing their homes due to negative equity is obviously moving away from this target. The risks of negative equity are currently very high, especially for anyone who bought a home in 2022. People buying homes now with a large LTV… Continue reading Negative equity is “doom”.
The 8 things I’d do if I needed to sell my home in 2024
If I was about to try and sell my home in 2024, given the tricky conditions, I would be allowing up to 12 months for the whole process, and hope to do it in six. If your deal falls through, you’re back to square one. Roughly speaking (and excluding talking to an independent mortgage broker… Continue reading The 8 things I’d do if I needed to sell my home in 2024
2024 New Rules for UK Home Sellers from National Trading Standards
The National Trading Standards Estate and Letting Agency Team (NTSELAT) are implementing new requirements for material information to be included in property listings. Part A came into place in 2022 and requires information that, regardless of outcome, is always considered material for all properties. Such as council tax banding, tenure, and price/ monthly rent. Parts… Continue reading 2024 New Rules for UK Home Sellers from National Trading Standards
Halifax v Rightmove?
Halifax says “house prices” rose in December 2023, monthly, quarterly and yearly. Rightmove’s December 2023 index says they fell, monthly and yearly. Question: Why would sellers be lowering asking prices across the board if actual house prices were rising? Think about it. Then you decide. My view: You are being gaslit by the debt salesmen.… Continue reading Halifax v Rightmove?
What hope for housing?
The highly-deserved undoing of the Conservatives won’t be Labour. It will be their own shambolic incompetence. A government can only function well if the team running it actually behaves like a team, not like a bunch of posturing glory-seekers. There is a time for individual jostling in politics, a bit like transfer season. Maybe for… Continue reading What hope for housing?
How much should you offer on a home?
Could you sell it again for what you’re offering? If not, it’s too much. Never pay more for anything than you are sure you could sell it for the next day. Especially a home. Exceptions:
BestAgent December House Price Index.
To confound my critics (and possibly confuse my followers) the December BestAgent Asking Prices Index (from my own website, still in beta) shows “sold” volumes up 3% month on month in England, but both average and median “asking” price figures have risen. More deals being agreed is good news for everyone. But the rise in… Continue reading BestAgent December House Price Index.
The Worst Agents.
I genuinely wonder how agents who do this sleep at night. Today I had a call from someone who booked a 1-1 video call with me a few months ago to discuss her purchase. She was due to exchange and complete today, but said “something doesn’t feel right”. The conduct of the agent in question… Continue reading The Worst Agents.
Moving home in 2024
This time last year the message from the moving industry was “everything’s fine, 2023 will be fine”. For movers, whether you were buying or selling (and even ignoring prices) 2023 was the most difficult year for moving home in recent memory as transaction volumes reduced and lending tightened, with lenders making many more down-valuations on homes… Continue reading Moving home in 2024