24
Feb
February Newsletter
Sales are a long way from where they were two years ago but
there are signs that buyers are coming back. Prices have fallen 20
– 25% in the last 18 months making homes more affordable,
what we need now is for the lending institutions to do their bit
and start lending again. What we don’t want to see is the
irresponsible lending that has been the norm, 8 times income or
125% of the asking price was never sustainable and is hopefully
long dead and buried. What we now want is accountability and
affordability. Individual accountability which comes from knowing
what we can afford and not trying to live beyond our means and
affordability with house prices and interest rates.
This is a difficult market for those who are just selling as
they are seeing their money just slip through their fingers through
no fault of their own. For anyone selling and buying again, you
have heard it all before, “its all relative”!!! If you
have to take a little off your asking price to sell then you will
make it up when you buy.
I would encourage you all to get motivated again, go out viewing
houses even if you haven’t sold, freshen up your house, get
some flowers in a vase and get the coffee peculating. You never
know when your buyer will walk up your garden path.
For our bit we will do whatever we can, our new website is
almost finished, our details remain some of the best out there and
we have invested in a superb, quality, monthly magazine which goes
out across Norfolk, Suffolk and Essex. When you pass our office pop
in and say hello and pick up a copy of the magazine.
Best wishes
Mike Ellis