Thursday, April 10, 2008
Banking on a sale
Welcome news from the Bank of England today as they reduced the base rate by a quarter of one percent to use the official jargon. Whether that is enough to encourage somebody to buy my house remains tobe seen, but I suspect not.
Things are quite quiet at the moment. There are occasional viewings, and the odd silly offer by a developer who has noted the house has been on the market a while and wanted to test how desperate I am to sell. I am happy to bide my time at the moment, although would be tempted to take a lower offer if I can see the price of flats dropping. At the moment though they are holding up pretty well in Chis.
I had to laugh last week . One of the houses over the road which was sold in June last year for £1,075,000 has just been offered again for, wait for it, £1,550,000. Now I known the Polish workforce are competitive, but that is one hell of a margin to be seeking in less than a year and in a depressed market. Its also on for almost twice what I am hoping for. It will be interesting to see if it gets shifted.
I am considering changing agents, or even going dual, but I need to see what they can offer me in incentives . It may even be time to consider Foxtons as an option, but I suspect they would want an arm and a leg in commission.
So with the warm weather just round the corner and May being the start of the viewing season, it will be interesting to see if I can accept an offer within twelve months of it going on the market.
Things are quite quiet at the moment. There are occasional viewings, and the odd silly offer by a developer who has noted the house has been on the market a while and wanted to test how desperate I am to sell. I am happy to bide my time at the moment, although would be tempted to take a lower offer if I can see the price of flats dropping. At the moment though they are holding up pretty well in Chis.
I had to laugh last week . One of the houses over the road which was sold in June last year for £1,075,000 has just been offered again for, wait for it, £1,550,000. Now I known the Polish workforce are competitive, but that is one hell of a margin to be seeking in less than a year and in a depressed market. Its also on for almost twice what I am hoping for. It will be interesting to see if it gets shifted.
I am considering changing agents, or even going dual, but I need to see what they can offer me in incentives . It may even be time to consider Foxtons as an option, but I suspect they would want an arm and a leg in commission.
So with the warm weather just round the corner and May being the start of the viewing season, it will be interesting to see if I can accept an offer within twelve months of it going on the market.
Labels: bank of england, Foxtons, interest rates, polish
¶ 12:49 PM
