Subscribe Feed (RSS)Is The Market Bottoming Out 2
August 4th, 2008 by Karelia | Filed under Property Market News.Musings of a London Property Search Agent
Further to our blog on Friday, Simon Agace, head of Winkworths Estate Agents has suggested to Citywire that bar new-build flats, we may be at the bottom of the market with an increase in activity in the second half of this year.
Our view has been that while many home owners will stay put rather than sell for a significantly lower price than their neighbours did last year, we know that we can successfully offer significantly below asking price.
A number of our clients have asked why that is, since according to the Land Registry, prices are stable but we can still chip significant chunks off the asking price.
Some people won’t sell at a low price, even if they have found another property to move to which is also significantly below the perceived market value. Why? Because an Englishperson’s home is his or her castle. Buying it was an emotional decision. In some cases selling it is too. And people don’t like the loss of face involved in selling their house which is of course bigger/sexier/both of the above, for less than the one up the road. This London Property Search Agent can help to find the path to the front door of a new home at the best price.
But some will. And some people have to. And some will be persuaded to, by the media, by their estate agents and by people like us who are determined to get the best bargain possible for our clients.
We still see Estate Agents over-valuing property in our opinion, in which case reductions should be negotiated. We also keep in touch with people who talk to us and then don’t use us and you know what? We regularly pay a bit more than they needed to for their new homes. But then they don’t think about property 24 hours a day do they? You have been warned!
Tags: House Prices, House prices in London, Negotiating Prices
