September 28, 2011 in Property

Property Update

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This morning on my way to work, bumped into my next door neighbour who put their house up for sale this past July. After your normal pleasantries, I inquired about the number of viewings and more importantly if any offers had been received. She indicated that an offer was recently made for £5K less than the asking price but they were now holding out for £10K more than the listed price.

My chin almost hit the ground as either sale price under current market conditions would be brilliant and so immediately wondered if they are being greedy. Of course, I’m not going to judge too harshly as I really want them to get the £10K more – as this would be £35K more than I paid for my house (similiar size and standard) three years ago. So hopefully a buyer will come along and pay what they are trying to achieve as this will put me in a really good position when I eventually come to sell.

When will that be? Not any time soon really as destiny dictates that I be in my current location for a wee bit longer. That said, things are really looking up for property prices in my area. I suppose this is aided by the new developments and restaurants opening up. Soon there will be a Buddha Belly and Chimichanga all within walking distance. Oh yeah!

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