NOVA NEWS EDITORIAL 08 AUGUST 2021
There has certainly been an easing up of the flow of property onto the market compared with how things were earlier in the year. Buyers are looking for the ideal home and they are not necessarily coming up for sale. I still find that the majority of sellers that I speak to have limited knowledge as to where they are going to be able to buy. It is one thing knowing where you would like live in your next home, it is another matter altogether being able to buy in that town or area.
Agents are finding that they are receiving a considerable number of enquiries for the most popular properties being marketed and therefore having to restrict viewings to those who have sold. This is also partly due to the Government guidelines on property viewings which endeavours to restrict the number of people viewing houses and trying to get prospective buyers to undertake a guided tour of the property online in the first instance.
This whole scenario makes the job of an agent very difficult with a fast moving market and vendors seeking to maximise the value in their homes. It is not an easy task to get a valuation absolutely right, particularly if the property is a somewhat unusual, as has been the case with a number of homes that I have seen coming on the market, ultimately market value will be determined by the buyers and what they are prepared to pay. Special circumstances will come into play for some property seekers who may find the right house in the right area after they have been looking for a long time and thus, possibly, be prepared to pay a little more than they would expect to in a stable market.
Remember it is nigh on impossible to get 10 out of 10 when looking for property, so if the property you view achieves 8 out of 10 then you have done well. Don’t feel pressurised into buying something that is not quite right. Renting can be a healthy option as you will then have the opportunity to take your time and may be give yourselves the chance to explore a wider area. You will also be in a strong position to negotiate with no chain involved.