To those selling in these difficult times

rd_se3

LouBlue wrote: »

Estate Agent said that they have over 50 viewings for properties arranged for tomorrow, so obviously things are looking up.

From a buyer's perspective, I can confirm something similar from viewing yesterday- estate agents books full up with viewings. I went to one EA who said he could show me a property but he wouldn't be available until 4.30pm. I saw another EA's viewings list and it was solid 8.30-5pm. Who knows what might be happening. Maybe people are more bullish these days compared to recent downturns.

ourrac

rd_se3 wrote: »

From a buyer's perspective, I can confirm something similar from viewing yesterday- estate agents books full up with viewings. I went to one EA who said he could show me a property but he wouldn't be available until 4.30pm. I saw another EA's viewings list and it was solid 8.30-5pm. Who knows what might be happening. Maybe people are more bullish these days compared to recent downturns.

Not sure what my estate agents are doing then,we have been on the market for over four months and had just two viewings at the beginning and nothing at all for around three months.

Feefee_4

Hi All,

Update from me. My viewer came yesterday seemed to like it but did not seem to show enough interest to me. Don't know it's hard to tell, shes a FTB & came on her own & did say she had only just started to look & not seen anyone about a mortgage yet so don't hold out much hope:(

It's really hard not to get your hopes up, since the EA made the appointment last Monday i've felt a bit happier & had hope but now i feel down again as I don't think she will go for it. We will see I could be completey wrong, if I don't hear from the EA today I will chase tomorrow for an update.

How's everyone else getting on?

Feefee

mbga9pgf

http://www.independent.co.uk/money/invest-save/mark-dampier-why-the-smile-this-is-all-his-fault-1297373.html

LouBlue

Well, as I thought. Feedback from the 2 guys. Loved the flat, said it was a fantastic size and great location but have found other flats for £8k less. I knew that, very frustrating, we can't afford to drop it anymore.

sarah_elton

I'm coming along to play in this thread.

The briefest possible back-story: Bought my flat for £115k at the end of 2005. Currently owe £109k on the mortgage (100% mortgage originally). No problem paying the bills as my salary is higher now plus my OH moved in with me in November. But we want to move to a family home, and I'd rather take the negative equity hit now, than rent out the flat with all the accompanying hassle for 5-10 years just to make my money back.

So anyway, had three agents round on Saturday. One stood out by a mile - the only one who came across as genuinely enthusiastic about the place. I've spent about £6k on the place since I bought it, to make it a nice home rather than for investment purposes (luckily!). They all said I'd done a great job and it was in perfect condition (but then they would say that :rolleyes: ), but two still seemed bummed by the market and for my prospects. Which I can understand but if they're not enthusiastic how will the small number of buyers out there get enthusiastic?

The good agent's fees were stupid though - £2,500 fixed fee as opposed to £1,500/£1,750 from the others. He wouldn't budge but I liked him so I called today to try and get him down to £2k as his agency seem to be doing better than the others in terms of sales. He offered to do it at 1.75%, so since I reckon I'll sell for about £105k I'm happy with that.

Anyway, there are two other flats the same as mine (in the same development except not top floor like mine which is a plus for me) on the market. One at £124,995 and one at £119,995. They've been on aaaaages and I actually want to sell. I wanted to market at £109,995 to try to get people in the door but all three agents advised against this as all buyers want 10% off asking price now and I don't want to let it go for less than £100k. They suggested £114,995 so we settled on £112,500. I'll give it 4-6 weeks at that before chopping asking to under £110k.

The agent who will be selling mine is the only one to have shifted one of these flats in recent times. It was on at offers over £100k and went for £92,500 :eek: But apparently it had been an old boy's place and needed completely gutting and everything doing, plus he'd been a heavy smoker so it reeked, was very dingy with yellow walls etc. So the agent (in fact all three) thought I was being realistic wanting £100-105k. So fingers crossed! I can't afford to pay off the negative equity if I let it go for less than £100k and I do think it's worth that still.

My agent wanted £516 inc VAT for a leashold hip. :eek: Ordered one from hips4u.com this morning for £209. I know there was a poster on here with negative comments about them but their supplier is eHips, who one of the agents I had round on Saturday use, so it can't be thaaat bad. Hopefully. Anyway, searches run out after three months so in this market they're bound to have expired before I have a buyer anyway. :rolleyes:

Agent is coming back on Saturday to do piccies etc. I'm away the following weekend so it'll be actively marketed from the last week in Jan. It's my first time selling and it's the most horrendous possible market to do it in, so fingers crossed! :j

Conrad

I find it perplexing why some sellers don't just drop to the level the market is prepared to pay, afterall, you lose nothing as long as you are buying another property, which, in turn will have dropped by roughly the same percentage.

I suspect one key reason is cognitive property bias, where the individuals brain filters out the negatives of thier own property, but attenuates the better points.
My neighbour does this. She cant see that the fact her property is right on the lane, with no off road frontage, has a severe impact on value, instead she focuses overly on the plus points.

It's akin to saying Hitler was a good old boy because he was kind to kids and dogs!

LouBlue

Conrad wrote: »

I find it perplexing why some sellers don't just drop to the level the market is prepared to pay, afterall, you lose nothing as long as you are buying another property, which, in turn will have dropped by roughly the same percentage.

Believe me, we just want shot but we have to clear the mortgage so can't afford to drop anymore, it is so frustrating and we can't afford the loan repayments to make up the shortfall.

pawpurrs

No news for me today from my second viewing diether. Hubby was made redundant today with no pay:rolleyes:

aurora_borealis_2

pawpurrs wrote: »

No news for me today from my second viewing diether. Hubby was made redundant today with no pay:rolleyes:

Really sorry to hear that xxx

Will you be ok for a bit?