The Times shared Anna’s thoughts on what to do in the current housing market.
The context is:
1. Transactions have fallen 17% annually and
2. The gap between asking prices and offers that are accepted is growing.
For sellers – dropping prices sooner makes sense.
For investors like those we are working with now – in the context of widening ‘bid-ask spread’ there are good deals to be had.
We are looking at on- and off-market deals for clients and believe it’s more important than ever to know what you are buying (or holding) for (e.g. long term, professional rental portfolio), then use that goal, timeframe and supporting data, rather than any reference to asking prices/2022 market values, to evaluate opportunities.
Full article linked here