Sensible Pricing Is The KeyTim Atkinson - Partner
29th June 2009
Recent reports from the National Association of Estate Agents tell us that there are four potential buyers for every home on the market. This is based on registered buyers and of course includes all those people who like to keep an eye on the market! It remains an encouraging statistic but let's not get carried away.
These people are all registered because they see this as a great time to buy and most view this as the bottom of the market and money, if you can get hold of it, is cheap. However they share another common trait in that they are canny and will spend a long time researching prices. With information freely available on the internet they know not only what similar properties sold for but in some cases even what you paid for your home.
Many building societies have quoted house price increases over the last two months of up to 2%, however this applies to properties sold and does not apply to everyone. If for example your home is on the market for 10% above true market value, these price rises will have no effect on you except mean that you are now only 8% overpriced. (Every cloud…….).
This is a great time for people to consider moving. Prices have come down so contracting the market, which means if you are selling now at £200,000 and buying at £400,000, your net gain against 2007 prices could be as much as £50,000.
My advice is look at the whole deal, not just what you are selling for. If you do this, not only will you succeed, but I think that in a few years time you will look back and congratulate yourself that it was a great time to move and you will probably want to send me a bottle of wine for this advice. Sancerre is my favourite in case you need to know.






