“In November, the trees are standing all sticks and bones.
Without their leaves, how lovely they are, spreading their arms like dancers. They know it is time to be still.”
Wednesday 23rd November 2022
“If the person you are talking to
doesn’t appear to be listening,
It may simply be that he has a small piece of fluff in his ear.”
Winnie the Pooh
By A.A. Milne
I do love autumn.
The leaves are almost magical as they change in colour from green to orange – driving along the Alresford Road from Alresford and into Winchester (towards St Swithuns) has the most incredible colours on the trees, especially beautiful when the autumnal sun is shining down and upon them.
Obviously my joy will change quickly as soon as the wintry winds blow them down on the ground and it all gets mucky and sludgy, but that isn’t now!!
The market is a strange one.
As I mentioned before, the concern is that the more the press warns about a crash in the market, the more they inadvertently create just that. We had a number of buyers question the prices they have been buying a property at, and whether they should be concerned, but thankfully we haven’t lost any sales, and most buyers can see the long term sense of buying a home for ‘home’ sake, rather than being for an immediate profit gaining exercise.
Mortgage interest rates have already started to settle from the nervous suggestions of 6% or 7% of only a short number of weeks ago, and are back in the 4%s and look like they will be settling back at 4% or lower in January.
As we mentioned last month, new applicant numbers have certainly reduced but each one who does register, is a serious buyer, and are looking to make an offer.
However, houses are extremely price sensitive.
We are finding that if a seller prices their home pretty accurately, rather than putting it onto the market for a few percent higher to allow wriggle room for negotiation, they should achieve good viewings, and an offer within that region.
However, if they go on the market for a few percent higher, they are likely not to get any viewings at all, and potentially may have to reduce the asking price to lower than they might have achieved had it been priced correctly in the first instance.
Thus, the market is okay, and ticking along, but showing signs of slowing down. It is price sensitive, but well priced, beautifully presented homes should still get sufficient viewings to enable a sale within a timely period.
In the meantime, Christmas is fast approaching, and Sam and I will shortly be riffling through the garage to find the decorations.
We may be gone some time in that endeavour … goodness knows what exactly has filled the garage from last year to this, but that is one major obstacle course.
Wish us luck!
Enjoy the rest of November, and we look forward to catching up in December.
Sam and Nony