Are all FTB's waiting for budget?

JMR said:
We have had one couple come back for a second viewing. They even told the EA that the they had narrowed it down to 2 houses, ours and another one in the same area.
Then, of course they vanished off the radar completely, the other house has not sold either.
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It's possible that they, like many FTBs, finally got spooked at the price of paying actual money for a depreciating asset.

P.
 
oceanclub said:
Er yes, that's exactly what the country needs. Yet more houses in remote estates.

Are you serious?

P.
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I'm not saying we need it or that i think it will happen (and you dont need to go to remote locations to see closed up building sites), but it is possible that that the government will do something. I am waiting just in case.

My point was not necessarily my opinion. Just a hypothesis. TBH i dont think anything will happen of significance. maybe pensions and childrens allowance will go up slightly.

In response to howitzer.... I'm not clutching at straws. just hate to jump in now and regret it in a month even if there is only a slight chance of something happening.
 
For what it's worth.
As a potential FTB the only thing that I am interested in is the price of the property.

If the price is right for me, and by right I mean it tempts me to ignore my feeling that prices are due to fall for a good while yet, then I'm much more likely to be interested in making a serious bid.
 
As a erstwhile first-time buyer, let me advise house owners tempted to spend big money money on "sprucing" up houses in an attempt to sell, please don't. By all means, give it a good clean and a lick of paint and make sure there is no smell of cabbage. But FTBs aren't dumb(#); when we're looking at a house, we're looking at the area, amenities, distance to public transport and size of the house(*).
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From day to day experience in dealing with house sales I can honestly say that most houses will struggle if it is in obvious need of work, even minor things like painting over a ceiling where an old leak was, fix a hanging door in the kitchen unit etc. FTBs are especially prone to not 'seeing past' a houses presentation, turn key condition is a must.

when what he should have done was add on an extension like the guy down the road - where the house was almost twice the size but up for a lower asking price).
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Your advice is major cost to receive less in purchase price?

Not from my POV as an FTB. I would say I'm not active because the gaffs are too expensive.
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Depends on the county I guess, lending is the major issue that I am aware of.
 
Have you looked at the repayments for your asking price? Maybe people can't afford them. House prices may have gone down in the last couple of years but interest rates are making repayments very high. The interested couple may have had trouble selling their own place, they may be waiting for the budget, they maybe waiting for you to drop your asking price.
I'm amazed at the amount of houses on the market for ages that have not reduced their asking price or reduced it only slightly.
People paid the asking in the past because it was the best price they could get, they didn't think it was a reasonable price they just thought it could only get harder so bite the bullet now. Now people can wait till they think the price is reasonable and affordable with no real risk. Last autumn I viewed a house asking €415 and the EA said they would not take less than the asking. We would have been tempted by €380 then. Now it's back on the market asking €380, but my view of what it's worth has fallen in the meantime. If you really want to sell I would drop the price significantly now. It may not look as low in six months time.
If you don't need to sell maybe put it on hold for a couple of years when confidence should be back.
 
MrMan said:
FTBs are especially prone to not 'seeing past' a houses presentation, turn key condition is a must.
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Well, I probably overestimate people's intelligence most of the time.

Your advice is major cost to receive less in purchase price?
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No, my point was that if you're trying to sell a house half the size of someone else's a few doors down (same style of house - ex 1930s council in this case), either lower your price to below theirs or increase the size to match. A nasty-looking plywood kitchen or ornamental gnomes aren't going to help.

But as you're already pointed out, I'm probably overestimating the average punter.

P.
 
the only way someone will buy now is
they think the price is good
they can get a mortgage
they have a deposit
they have sold or are ftb
their hearts rule their heads

The last one will swing it if all else if in place so get the magnolia paint and the fresh flowers out!
 
moneygrower said:
The last one will swing it if all else if in place so get the magnolia paint and the fresh flowers out!
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Or you could always hire Liz O'Kane's company (name temporarily forgotten) to do up your place. Money well spent, I'm sure.

P.
 
I'm a FTB and I'm holding off until after the budget. Not because I'm hoping they will announce a range of measures to help FTBs. The opposite in fact. I believe that if the government doesn't move to help FTBs the market will fall further, which will benefit me. I'm not looking for hand out from anyone, I just want prices to fall back to a realistic and sustainable level.
 
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