More house sellers are coming back into the market, says GILES HART, area director of William H Brown in Norwich.
An interesting barometer of the state of the local property market is the resurgence of those buyers who have a “house to sell”. For the last 18 months we have seen evidence that this type of buyer has been avoiding the property market, nervous of their ability to move, the economy and the costs that could be involved should an aborted foray into the market occur. For many there has never been a better time to move up the ladder. Interest rates are at an all time low, the gap to move up has narrowed and competition between buyers has not been so fierce but the fear of failure has held many home-movers back. Confidence is now at a level that many of these buyers are keen to get back on the move. More customers are telling us they are back in the market as, “The market seems to be picking up.”
This is a good sign looking ahead to 2010 and it reasons, that with this in mind, we will see a healthy market in the short term. When we look at this detail though a word of warning should be used as a reality check for sellers – buyers still want value for money. There are many properties that have been on the market for an elongated period, these can sell but they must be at the right price. You must show a buyer that you are eager to sell to alert interest and you must still take the time to prepare your property to look its best. Complacency will delay a deal coming for your home.
So here are my autumn tips:
- For buyers; register your details with agents now – you may pay more for a purchase in the spring.
- If you have a house to sell – call for a free market appraisal of your home and free advice on moving and the market. Ask for evidence of what is happening locally to you now. Don’t just consider national house price reports.
- For sellers; don’t give up over the winter, there are fewer homes available right now and no-one knows which home will sell next. The most enthusiastic seller has the most success. You will have more competition for a buyer in the spring.
- Check pricing and presentation is spot on – try and impress every viewer. Ensure a home is well-light and welcoming on dull days or dark evenings.
*You can contact Giles Hart at William H Brown in Norwich on 01603 760044.