The thing is no one needs to sell.  In fact if anyone is going to sell they are going to ask a high price.  The reason being buyers can afford it!  With rates so low with residential rates just a tad over 2% then why not!

 

So as the press reports the gloom of 55% price drops the true facts are owners are getting greedy.  What a strange world we live in.

 

Yes there have been house price falls but you have to look at the sellers:

 

• Forced sellers
• Repossessions
• Owners in arrears

 

These are the sort of people selling in the current market, because they have to.  Those who do not need a sale simply put their property on the market at the price they want.

 

If you go on to Rightmove it is fairly obvious.  You see 1 or 2 really good bargains then the rest is the drudgery of high property prices with rubbish yields.  Just like it was in 2007.

 

So once the bargains disappear we will have the perfect stale mate.  The majority of first time buyers on the sidelines, investors wanting to pay peanuts and sellers wanting too much.

 

Do not get caught in the stale mate and miss out on the big property grab of 2009.

 

Ajay

 

PS to read the Rightmove Property Report click on the link.

Posted on: 17th Mar 2009

Bookmark:

del.icio.usdiggFurlFacebookRedditYahooSpurlSmarkingSimpyStumbleupon