Result!
As mentioned in my last blog, I have entered the market for a new home. Looking for more a bit more space and improvement in terms of a view and outlook. Well as of Friday I wrapped a deal for a new property! Hurray for me…the euphoria has well and truly worn off now however and back to work!
While I still think I got a good deal, I am left wondering how it can take 6 weeks for the change over to be made? There are bargains out there and this was one of them, the property needs work and this will certainly have put people off which is why the asking price has fallen by around £40,000 plus. Expecting to take a hit on my present property, which I will find out this week, I still expect to be up on this deal when the market gets back to normal. After a meeting with a mortgage advisor I will know what my choices are re-payment wise, although anyone with equity in their property and a decent payment history will have options-not the number you would have got in 2007 but not to despair.
After a month solid viewing properties and reading dozens of prospectus its clear that its a buyers market with sellers biting the bullet and cutting asking prices. One good thing is that with a fall in sales estate agents will bite your hand off to deal, and they turn up on time! Everyone in the industry (that is still in a job) is super keen to deal! If you have every taken time out to view a property and the estate agent has left you out in the cold you will know what I mean…
The market is expected to start some sort of bottoming out/recovery process during the next 12 months and this could lead the country away from phrases like recession and ‘boom and bust’ for a while.
As the process of moving, selling and the transfer moves along I will comment on a few things that come up and see whether the government is doing enough to make it worth our while to buck the current trend and move property.