To those selling in these difficult times

pawpurrs

I am getting allmost no viewers from people in chains,most are looking for a second home.

Feefee_4

Davesnave wrote: »

Three agents have told you what the score is. Bear in mind that their estimate is based on selling now, rather than in six months time, which will help you to be realistic if and when the offer comes. It is tough but, apart from a very few locations, anyone who bought 3 years ago is now out to avoid negative equity, rather than to make a profit.

Of course you may be lucky, and I hope you are. None of us deserves this situation, but I believe we can still trn it to our advantage. For example, you and your OH could, perhaps, buy something really special together in a year or so, when prices have stabilised.

Hi Davesnave,

I think your right in what you say, I will just have to take what i can get the only other option is to wait years for the market to pick back up & be paying out for a house that i only seem to spend 2-3 nights a week in which in it's self is wasting money. As long as i don't get negative equity I will be happy ish.

Feefee

Davesnave

pawpurrs wrote: »

I am getting allmost no viewers from people in chains,most are looking for a second home.

If you are in/near Yorks Dales then this could be an option for people who now distrust the Stock Market. They might see the possibility of renting out a holiday home, for example, and feel managing that is 'easier' than second-guessing the world economy. Long term they could still see capital appreciation, and a house is still worth 'a house,' regardless of the value of the £.

On one level they're right, but on a practical level they also need to be on the ball, because holiday letting has quite a few pitfalls for the unwary.

I believe we will see a good number of sales in the second home market during 2009. Places like Cornwall claim to be immune to the downturn, but we'll see.

stucker95

6 weeks ago, me and my neighbours had developers clammering to buy our back gardens for a housing development...... but they have ALL now retracted their offers until the economy settles down. It seems that even the professionals have lost all confidence in where house prices are likely to be in the next 12 to 18 months.

Sell.... I wouldn't. Hang on if you can, but its going to be a bumpy ride.

Davesnave

stucker95 wrote: »

6 weeks ago, me and my neighbours had developers clammering to buy our back gardens for a housing development...... but they have ALL now retracted their offers until the economy settles down. It seems that even the professionals have lost all confidence in where house prices are likely to be in the next 12 to 18 months.

Sell.... I wouldn't. Hang on if you can, but its going to be a bumpy ride.

But if it is going to be 'a bumpy ride,' isn't it better to sell now rather than wait, if the possibility is there? As someone else says in their sig, 'If you do what you always do, you'll get what you always got.'

There are opportunities in this market, but they won't come to the faint-hearted.

Mark-W_2

Well i have a dilema, the people who viewed on thursday have come back and said that they really want the house but are unwilling to make an offer at present as they want to see what happens with the market over ther coming months.
But they 'might' put an offer in after xmas, but they didnt want to offer at this moment in time for fear of offending me with a low offer... i've told the EA that i wont be offended so i shall see if they come back with anything.

My ex has now made me an offer to buy me out of the property for £15,000.

The house was valued at £220,000 in July and is currently on the market at £199,995.
It was purchased in summer 2006 for £198,000 and we have an outstanding mortgage of £145,000.
I couldnt be certain of what the house is currently worth as there are only a few similar properties in the village, none of which are in as good location or condition.
But her offer values the property at £175,000

Do i accept her offer?

On a side note a property 2 doors up has just gone on the market for £265,000 which is marginally larger than mine with 4 bedrooms compared to my 3.
A bit over optimisttic??

pawpurrs

So you are on for approx £200k, say you get £180k, that would mean you have 35k equity. Have you both paid equally to the deposit/mortgage?

Mark-W_2

Basically yes we have both put in an equal share.

Although there are a few little issues, i did put in the majority of the deposit on our previous property £6k out of the £8.5K needed in 2003.
Also her parents gave us a £5k gift on the condition we bought the current property as it was above budget but closed to them.

pawpurrs

So you are basically even then. She if she will give you 17.5k if she will I would take it, and get out of there, and on with your life. But you have to be happy with the amount, saves all the hassle and uncertainty of selling.

Mark-W_2

thanks pawpurrs, when the house originally went on the market i had a figure in my head of around £30k its very, very hard to accept the loss of £12k-£15k because of irrational feelings and logic of my now ex girlfriend.

I probably would reluctantly accept something close to £18k just to get on with my life, its a horrible thing trying to sell at the moment through no fautl of your own.