We’re sure the news hasn’t escaped you of the serious dearth of property across London, in every price category.
This is the norm when prices begin rising substantially and homeowners wait for just the right moment to sell, when the frenzy is at its height and to cash in at the highest possible level. Alas, the ‘right moment’ generally comes for everyone at exactly the same time – perhaps a high profile news story predicting the end, maybe a doom-laden guess from a well-respected pundit – and suddenly the market is flooded and everything goes backwards. At least for a short time, perhaps for much longer.
So is there anything new to say on this recurring scenario that’s effectively a carbon copy of almost every other property boom?
Right now, you will get whatever you want for your property. Actually, you’ll get a whole lot more and, a rare thing indeed, more than even your own ludicrously high hopes on price. If you’re in a prime location you’ll have people beating down your door and willing to pay thousands more than your neighbour’s property sold for just a few hours ago. It is absolutely ridiculous out there, but that’s the way it is and you’ll be gobsmacked at just how much someone will pay for your property today. With the feeling that right now is THE time to buy, you can use the shortage of stock to your absolute and quite frankly unrealistically high advantage. Think big, then add a bit more.
If your property is in a secondary location, there is never a better time to sell than when prices are going crazy, like now. Secondary locations lift in value like no other time than when people are priced out of prime positions. You will achieve, we assert, more than your wildest dreams if you decide to sell today. Similarly, when things calm down (or worse), it’s the secondary locations that fall first, fastest and farthest. If you wait too long, you will see the value of your home drop far more than property in prime locations.
So use this moment. This moment when too many homeowners are hanging on for too long and who will, like all the other times, screw it up, wait until it’s too late and then cause a flood of property onto the market, push prices downward and contribute to it all going rather wrong for a while. More to the point, they’ll get stuck where they are, drift into a mild depression and kick themselves soundly for being a sheep, being too greedy and messing up their move and their future.
Our advice? Put your property on the market right now at a ridiculously high price, look on in wonder at the surge of buyers throwing themselves at your home, accept an offer from the multiple ones on the table and head off smug and rich into the sunset.
You can already sell at tomorrow’s price today. So get that ball rolling, take the money, and run.