Homes One April newsletter: stick or twist?
Dear friends,
War brings back painful memories.
As a young boy in 1970's Beirut, where civil war was brewing, I was very lucky to move to London just before the full scale conflict broke out - but I saw and heard my fair share before leaving.
What is happening in Ukraine is similar, only worse. Like most of us, I hope it ends soon - the first month has gone by frighteningly quickly.
My career as a property agent was born out of my own search to find a sense of place, after all the upheaval I experienced. Now I help others do the same.
May this conflict also contain alchemy, and be an inflection point of sorts, for good.
May all beings be safe, and free.
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For the London property market, and for the economy in general, war is another reason to stick rather than twist. First the financial crisis, then Brexit, then Covid... and now a European war. For the time being I expect stock levels to stay low as people wait rather than move forwards. This means that with stock already as scarce as I can remember, competition for what remains is as fierce as ever. Paradoxically this means my life gets busier - with more people searching than selling the lower stock gets.
How to win in this kind of market - in the fight for what's left over? And does it mean that dream homes are off the menu for the time being?
These are good questions. Firstly, dream homes have an energy shield around them which often seems impregnable to market conditions. The truth is that the best homes have always been off-menu, and that is one of the reasons I set up Homes One - to find my clients off-market, pre-market, best-in-class properties that other agents don't get a sniff of. Now more than ever, by and large that remains the case.
As a real-world example, I took a client to see a house in Holland Park and in one week there were two bids at well over asking... it went for £9m - £1m over the asking price... I counselled my client to step back from such frothy activity and stick - for the time being!
Regards winning in a fierce market, my answers as follows, to colleagues and clients alike;
- Stay close to your network: stay in touch, eat with each other. Relationships are key.
- Be visible: make sure people know what you are looking for and what your vision is.
- Align spiritually: I am following Wim Hof's advice - taking regular cold showers to handle discomfort better, and doing breathwork and meditation.
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On the buy side, I have also just sold an old organ factory, formerly used for music management for a major international pop star. The building has been bought by a leading artist who will use it as a studio. It feels good to know that such a unique central London property is destined for creative purposes - we need art and culture more than ever.
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Poll: would you be interested in collaborating or hearing more about a grass roots charity project focused on displacement, conflict and addiction?
I have a dream to bring people in property together to make more of a difference in ways that are close to home for us all.
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An announcement:
Last but not least - I'm thrilled to have been included in the Spears 2022 property listings as a Recommended Adviser, in the London Buying Agents category.
My specialist areas of Lebanon and the Middle East are highlighted, as is my focus on the international sector... although I've already transacted twice in 2022, both for British clients!
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The Spring market is upon us, and I would love to catch up soon if you are in London and interested in search or sales.
Warmly,
Karim