Property Leap of Faith by Heather Hilder on April 30, 2020 ‘Ready to take a Property Leap of Faith?’ Just a couple of months ago, my team and I were discussing this year’s leap year, 29 February. A leap year occurs every four years – this is about as frequently as many people used to move house during the heady days of property speculation that sparked the boom market! Now it seems that sellers have to take a leap of faith before committing their property to the hands of an estate agent. And 29 February happened BC – Before Covid-19… Nowadays most buyers and sellers don’t leap from place to place quite so often. They tend to move for “real” reasons such as a change of job, children on the way, downsizing, debt, divorce etc. These “real” sellers tend also to quote realistic asking prices, as their main objective is to move, rather than simply to sit on the market hoping that someone will buy their property at that flatteringly inflated figure an over-optimistic agent suggested they should quote in order to get the business! However, unlike during the last leap year in 2016, people are still considering moving on, especially those who were apprehensive about doing so at a time when there was uncertainty about the future of house prices and out of necessity. Is ‘Spring’ the Time to take the Leap of Faith? With continuing low interest rates, you may decide to take a leap of faith yourself this leap year and make a move. Other property owners will have the same thoughts of course, so ideally aim to sell before competing properties flood onto the market as they traditionally do during the spring. The ‘Spring Market’ may be on hold at the moment, but if your aim is to sell, you’ll be able to achieve a good price for your sale, whilst putting you in a strong buying position so that you can take advantage of the choice that we expect to become available once the Government gives the ‘go-ahead’ to return to a relatively ‘normal’ life, whatever that will look like! Wait to take the leap in 2024… And if you’re not yet ready to take a leap of faith, don’t wait till the next leap year in 2024. Who knows what opportunities you might have been missed by then! To discuss your options, please feel free to contact us at teamsales@callaways.co.uk or 01273-735237 for an initial and confidential chat. We won’t push, but we might help you take that leap of faith!
