To those selling in these difficult times

pawpurrs

It does look cheap Lisa at that price, but I have no idea about your area.
So you bought for 142, how much have the works all cost, will you be out of pocket at that price?

lisa-loves-cats

pawpurrs wrote: »

It does look cheap Lisa at that price, but I have no idea about your area.
So you bought for 142, how much have the works all cost, will you be out of pocket at that price?

we will just break even if we can push her up to £175k, even on all the house valuation websites like Zoopla, it gives it a value of £186k, or a price range of £179,691 - £193,656 which does include the current market % reduction.

it wouldn't be such a problem if i could knock the reduction against the house we want, but the house prices down in kent aren't moving at all according to property bee, but, saying that,none of them are selling either. I think there may be a lot of people out there who still aren't listening to what the housing market is actually doing.....

IT_nerd

It's been about 6 weeks since the last viewing of my dads house.
Not like I really want it to sell, but I would let people look around if they asked.

Not a single phonecall from the EAs. My dads screwed, big time.

pawpurrs

Its got to be your call Lisa, it seems odd that she wont increase her offer at all. I am suprised how quiet the viewings have been on your house,considering the finish.
The problem is you are moving to a much more expensive area.
Ask yourself if you refuse and dont sell for another few mths would you regret it? Prices do look like they will fall more, so its a hard call.

moneysavingfamilycomp

reading this thread has made me feel slightly better. we have had house on market for nearly a year now.
2 bed semi with enclosed back garden and drive to front
put on market end oct 2007 for 95,000
1st viewing 1st nov 2007
offer 2nd nov 2007 90,000 accepted
she then proceeded to mess us around till jan 08
due to sign contracts 10th jan 2008
buyer pulled out of sale without reason 8th jan 2008
we have since had about 4 viewings but no offers and no viewings for last 5 mnths we are very fed up dropped price to 89,950 EA told us not to drop further as we are the one area of the country where prices are stable dont know why. but if we drop ours further then we wont be able to buy in same area. house has had new kitchen/ new bathroom /GCH /DG / all new interior doors etc / complete redecoration throughout/ new carpets/landscaped garden. all done in last 3 years we are in the process of putting in a double block paved drive to replace single drive (for our own benefit but wont harm sale) but dont know what else we can do.

geoffky

Any Offer Is A Good Offer Considering Only 2300 Houses Sold In The Uk Last Month...

geoffky

moneysavingfamilycomp wrote: »

reading this thread has made me feel slightly better. we have had house on market for nearly a year now.
2 bed semi with enclosed back garden and drive to front
put on market end oct 2007 for 95,000
1st viewing 1st nov 2007
offer 2nd nov 2007 90,000 accepted
she then proceeded to mess us around till jan 08
due to sign contracts 10th jan 2008
buyer pulled out of sale without reason 8th jan 2008
we have since had about 4 viewings but no offers and no viewings for last 5 mnths we are very fed up dropped price to 89,950 EA told us not to drop further as we are the one area of the country where prices are stable dont know why. but if we drop ours further then we wont be able to buy in same area. house has had new kitchen/ new bathroom /GCH /DG / all new interior doors etc / complete redecoration throughout/ new carpets/landscaped garden. all done in last 3 years we are in the process of putting in a double block paved drive to replace single drive (for our own benefit but wont harm sale) but dont know what else we can do.

I really dont know who is the fool you or the estate agent ....no viewings for 5 months and you think its not the price?for gods sake wake up and realize whats going on out there..meanwhile the market is leaving fools like you behind and going down and down and all of a sudden you will realise how silly you have been. and you have the cheek to insult peoples intelligance with a £5 drop from a nov 07 price..

Nikki

lisa-loves-cats wrote: »

another update...

no other viewing in place at the moment pawpurrs but............ jsut had EA on the phone again, he explained my concerns about her proposition and that I would not be willing to rent the property to her, so, she has instead put forward an offer plus he managed to extract a little info as to why she wanted to rent.

apparently she is buying the property for her daughter who has 2 children and they wanted to make sure the children would settle in the area..... so clearly if they didn't, she would have pulled out of the sale.

so here is the history of my prices and offer,

average valuation done for £225,000 4 months ago - put on the market for £220,000 - no viewings

2 months later dropped the asking price to offers over £200,000 - no viewings

1 month later dropped the asking price to £189,950 - 4 viewings, possible offers

1 month later had a meeting with current EA as coming to the end of there contract, gave our 2 week notice to switch agents with the plan to drop asking price again to £179,950, obviously looking for offers just under the new stamp duty threshold.

This started a frenzy of viewings with the most recent offer to rent before buying - turned this down and the offer has come in at £171,000.

OH and I, are both gutted to even be considering this offer..... asked my EA if he could get her up to just under the stamp duty which he said he had already asked and she said no...

Apparently she has a 50% deposit and a mortgage agreed in principle so can move on it all very quickly.........

what do you think?:(

£171,000 is a 22% drop from our original asking price.......

If it's any consolation, we've dropped ours by 22% and are still likely to get lower offers - if we get any. We hoped to at least break even but that's not going to happen now:(. The times we went sstc we were looking at properties at around the 250k mark and under, now I reckon we'll be sticking to under the 175k stamp duty as our budget won't be much more than that now.

moneysavingfamilycomp

geoffky wrote: »

I really dont know who is the fool you or the estate agent ....no viewings for 5 months and you think its not the price?for gods sake wake up and realize whats going on out there..meanwhile the market is leaving fools like you behind and going down and down and all of a sudden you will realise how silly you have been. and you have the cheek to insult peoples intelligance with a £5 drop from a nov 07 price..

we know exactly whats going on all the other 2 bed semis of similar and lower spec in our area are still being marketed at 95k plus ( i check out other agents in our area at least twice a week.) we were advised by agent that house was worth more than 90k and as we had only been on the market 1 week that we shouldnt accept but we had seen a house we wanted and decided against there advice. original valuation from 3 agents was £99,950 but because of the way the market was last year we decided against this figure. the drop of £5,050 was the most we could afford we want to move to a 3 bedroom and the cheapest in our area is £115k so if we drop much more when noone around us is we wont be able to afford to move i know it sounds like we are digging our heals in but we arent we are in a unique situation in that whereas the rest of the country prices are plummeting in our area they arent but people arent buying. believe me if we could find a house within our price range i would drop our price i have no problem with that.

Davesnave

My drop is about 18%, though it's more complex to work out, because I've kept part of the original property to sell at some time in the future, possibly 5 years down the line. Not sure what it will be worth then, but I have a current offer on it. It isn't really possible for me to accept that just now though.

Hopefully,the figures/stories here will help others to put their own sales in perspective. We don't need verbal invective to get the point over that all of us have taken a hit. Dropping your price is easy to do when the money is theoretical or someone else's.