To those selling in these difficult times

pawpurrs

No, I think your right just was a bit taken aback that in my area, prices sold seem to be higher than 2007. I have put my house up at 2006 prices.

Davesnave

pawpurrs wrote: »

Do you think acheving a sale price the same as 2006, would be a good achievement at the moment?

Based on the fact that I live in a World Heritage city with nothing but green space between me and the World Heritage bit, I'd say yes, because I'm back at mid 2005!

It takes a while for what is really happening on the ground to be translated into figures. Even back in May/June things looked fairly rosy around here. Then, I had plenty of people who wanted my house, just like now, but at that point I didn't realise fully that (a) they had no intention of paying close to what I was asking and, (b) they were not likely to be in a position to proceed anytime soon.

lisa-loves-cats

thanks debras angel, though it's not over yet....

jsut trying to get them to up there offer to just under the stamp duty threshold which is only 4k more, which is still over a 20% drop in the original price.... if they go for it then it's time to start negotiating a price on the property we want in kent... though if they don't go for our offer we are fortunate enough to be able to move in with my parents in kent, so may sit out and watch the market for a few months, great scenario as it's rent free, rental agreement free and we will be one of those rare things.... a buyer! could work out better, though i really just wanna nest........... 2 weeks now till the baba is due!!!!!!!!!!!!

pawpurrs

Good Luck Lisa, have you decided what to do if they dont up their offer?
I am still waiting for the phone to ring here.

Davesnave

dpw wrote: »

Sorry if I repeat what's already been said, as I've not been reading this thread previously.

We will let you off reading the rest, but do try to keep up from now on..... (Sorry, used to be a teacher!)

You've done all the right things and it's great to hear someone on here who's proactive and getting the best from their agent instead of whinging about what he/she hasn't done etc. There are good & bad agents out there, just like there are tradespeople with varying of skill levels, so it's up to sellers to choose wisely. You wouldn't expect all builders to be the same, for example. It may amaze some folks on here, but there really are decent agents who get on with the job and do what they're supposed to do, especially when encouraged by someone like yourself who keeps well-informed.

Debras_Angel

lisa-loves-cats wrote: »

thanks debras angel, though it's not over yet....

jsut trying to get them to up there offer to just under the stamp duty threshold which is only 4k more, which is still over a 20% drop in the original price.... if they go for it then it's time to start negotiating a price on the property we want in kent... though if they don't go for our offer we are fortunate enough to be able to move in with my parents in kent, so may sit out and watch the market for a few months, great scenario as it's rent free, rental agreement free and we will be one of those rare things.... a buyer! could work out better, though i really just wanna nest........... 2 weeks now till the baba is due!!!!!!!!!!!!

Lisa,

Things might have been different if you weren't having the wee one, But I can understand your need to get settled.

Might be quite nice to have help around when the wee one comes for a little while and then get the home you want at a lower price!

Remember what will be will be and it will all work out in the end.

rs82uk

Ive been looking around at places in the last few weeks and I must say that most vendors are being very unrealistic with their prices.

3 out of the 4 properties I have seen have been on the market since january and they have not dropped their price at all.
Aparently one of them has had 3 offers with discounts ranging between 10% and 20%.

moneysavingfamilycomp

what i dont understand is why all the buyers are expecting all the sellers to cut prices and sell at bargain prices the figures in my area are showing an average sale price of 2% higher than last year and it seems that pawpurrs has found the same thing. so it seems like the majority of houses around here are selling for near enough asking price. i think all of the media hype has made buyers think they are on to a good thing and whereas last year they may of offered 5% or 10% under asking price they now think its ok to offer 20% or more under. the idea seems to be they buy now at a bargain basement price from people who are desperate to sell then they sell in 5 years time when prices are predicted to be back to early 2007 prices making a massive profit at our expense. i know thats how the market works but it seems so unfair on people who are having to sell because the rise in interest rates means they cant pay there mortgage:mad: . luckily we arent in this situation and can afford to wait for a sensible offer. but i really feel for any of you out there who are in this situation.
ok rant over can you tell this is stressing me out

Davesnave

I understand your point of view, moneysaving, but the chances are that all areas will be hit by this eventually, and there's no law that says prices have to rise to 2007 levels again inside 5 years. Looked at historically, nowhere escaped the last house price 'crash,' which was was nothing like this one in its speed or likely severity.

Buyers take a risk if they purchase now in these uncertain days, and sellers also gamble by setting their price at a particular level and hoping for a sale before the falling market leaves them high & dry. It is all about risk and people's best guess at what will happen next. Anyone who doesn't like that shouldn't be in the market at this time, unless they've no option, like those in financial trouble or job relocators.

In my case, I'm too old to sit back & wait for something to turn up; five years or more is too darned long. I would rather take a £60k hit now so that I can move my life forward and, by staying in rented, I'll gamble on further falls next year to put me back in a good position. Similarly, the people buying my house with large reduction will be gambling that they keep their jobs and not see too great a fall next year, so that the scenario you descibe of restored value within 5 years becomes a reality for them. We won't both be right!

By all means hold out for what you believe is 'sensible,' but bear in mind that the market, not you or I, will ultimately define what that is, wherever we are.

pawpurrs

The phone didnt ring yesterday, and I think my keen people have offered elsewhere.
Gutted.