To those selling in these difficult times

Davesnave

suz7 wrote: »

The couple who were coming to view my house before Christmas haven't been back in touch - they cancelled because of the bad weather (snow). Haven't had any other interest, only been up for sale for about a month.

Am definitely willing to reduce the price. What do you think ?now or at the end of January - and will it really make a difference anyway

Without knowing more about the house and the reduction planned, it's impossible to say. However, you can look at comparable local properties and, if you're really keen to sell, make sure yours is the cheapest! People are still needing to buy/sell and, despite everything, some do.

As you've been on the market such a short time, reduction right now might be premature. Things probably won't pick up much until the end of January, at the earliest. Nobody knows if mortgages are going to be freed-up a bit, but if there's to be any kind of 'bounce,' it will happen in the spring. However, I wouldn't expect it to be sustained. At present, it seems the banks are still very tight with the purse strings, regardless of government exhortations.

Best of luck with whatever strategy you choose.

Davesnave

Dats, you are getting interest at a 'difficult' time, so you must be doing something right!

Moneysavingfamily, you have hung on in there and continued to be bold with your approach & pricing, so you deserve to get a result early this year. I hope you do. Any more news on those new builds?

justpgraham1

Hi all

Well an update from me - sorry its taken so long!

The offer we put in on the 'dream home' was basically declined, not because the offer was too low but because the weekend that the woman was supposed to be persuading her husband (persuading because couple are splitting, hubby still living with her and doesnt want to sell or split!) they had some awful news that the womans cousin commited suicide!!! :eek: So there was not much we could say to that!!
The couple have decided to take their house off the market for now and see what the New Year brings. To be honest i dont think they will end up selling and will sort their differences out, i just wish they hadnt kept us hanging on for weeks on end!!

Anyway, another house did magically appear and its far better than the above property. Its a six bedroom detatched, 4 bath with conservatory, brand new fitted kitchen with no work needing doing at all apart from a change of decor in the lounge. Its way big enough for our needs and we wouldnt need to move again unless we want to downsize when the kids are older. It has a tandem garage which is huge and will be converted into a room for the hubbys fish tanks, which hes really pleased about.

The house was on for 259,995 they have had buyers 3 to be exact (one of those was last year when they was on for 300,000 but all have fallen through as have lost their buyers the other end. They did buy it 3 years ago for 284,000 and have put the new kitchen and conservatory in, but the owners have 2 sons which have now moved out and got their own mortgages and also she travels a fair distance to work which is why they want to move and are also downsizing, so they have gone for a new build and had their offer accepted.
I offered them 249,995 so as it came under stamp duty and they accepted like me the owners know they are losing money but so are most people the way things are and we have lost 43,000 on our home from what we bought it for 4 years ago, so they are in the same boat - so even tho we are losing now we are hoping that in the coming years the prices will have gone back up.

Anyway, we are due to exchange on the 13th Jan and hope to complete the following week, so its all go just hoping nothing goes wrong, surveys have come back fine as have searches and we recieved our mortgage offer in the post yesterday

Have had a couple of quotes from removal firms, first one was just under a grand which was without packing and 2nd one was for nearly 1700 and that including packing - but move would be done over 3 days they state - day 1 pack up and load some of stuff, day 2 pack big items and unload, day 3 unpack - do u think thats alot for a 4 bed house? Have another company coming in on Monday to quote us with the packing so hoping that might be a bit cheaper - have started to do some myself as i declutter but our third bundle of joy is due in just under 6 weeks and also have a 16 month old and 6 year old to look after so cant do much and hubby has to work as he will be taking a couple of weeks off once i have had baby as i wont be upto anything then as am having another c-secton.

So basically its all happening at once, just hope i dont go into labour before my section date which is what happened with my 2nd baby! I need everything to run like clockwork and happen on certain dates because if they dont its def gonna throw a spanner in the works!!!

Anyway, wishing everyone all the best for 2009

Justp x

the_bread_baron

Davesnave wrote: »

Almost everyone in our area is being realistic about price & mid-range properties have been regularly flagged up as STC/Under offer on Rightmove but, like ours, they keep coming back again! Lack of FTBs & FTBs going wobbly is the biggest problem.

erm, no.
the problem is your houses are far too overpriced and you have all been programmed to think you will see MASSIVE profits for doing little but sitting in a house for 4 years or so. consider what you paid 5-7 years ago to be now the real price. (-50%).

hanging on for double or triple profits, well you will be waiting a LONG time. sorry guys but there's no such thing as a free lunch. you missed it, that's the reality of 09. there are one or two idiots out there, but you will find mostly timewasters. when you think about it, its actually the sellers that are often the timewasters with dreamer prices.

even IF you do get an offer and someone is crazy enough to come in at today's prices, the banks wont risk a loan to them because even the banks know the loan will be negative within the 1st month.

TBB

ourrac

Hi All Happy New Year,
Hope you are all ok.
We've had our house for sale for 4 months now and only had two viewings and no contact from the EA whatsoever and also they didn't lower the price when I instructed them to and didn't advertise as promised.
We decided to go and see them for a chat but unfortunately we can't seem to coordinate our visit with a time when they are open !
They are shut at weekends and also closed from 23rd December until 5th January.
We stupidly signed the worst contract going ... Sole Selling Rights and a Ready Willing and Able clause...what idiots we are, we'll be more careful next time.
Good Luck Everyone
Rachel

Davesnave

the_bread_baron wrote: »

erm, no.
the problem is your houses are far too overpriced and you have all been programmed to think you will see MASSIVE profits for doing little but sitting in a house for 4 years or so. consider what you paid 5-7 years ago to be now the real price. (-50%).

hanging on for double or triple profits, well you will be waiting a LONG time. sorry guys but there's no such thing as a free lunch. you missed it, that's the reality of 09. there are one or two idiots out there, but you will find mostly timewasters. when you think about it, its actually the sellers that are often the timewasters with dreamer prices.

even IF you do get an offer and someone is crazy enough to come in at today's prices, the banks wont risk a loan to them because even the banks know the loan will be negative within the 1st month.

TBB

You are on the wrong board.

If you want to spar with people in this manner, go to the 'House Prices, Economy & Recession' board where you will find lots of people, including me, only too willing to have a debate.

Trolling here won't work. Well, not with me anyway!

Davesnave

ourrac wrote: »

Hi All Happy New Year,
Hope you are all ok.
We've had our house for sale for 4 months now and only had two viewings and no contact from the EA whatsoever and also they didn't lower the price when I instructed them to and didn't advertise as promised.
We decided to go and see them for a chat but unfortunately we can't seem to coordinate our visit with a time when they are open !
They are shut at weekends and also closed from 23rd December until 5th January.
We stupidly signed the worst contract going ... Sole Selling Rights and a Ready Willing and Able clause...what idiots we are, we'll be more careful next time.
Good Luck Everyone
Rachel

Yes, you've had a heap of no fun there. Have you been to CAB with your contract & details of what's gone wrong? They are very good & I'm sure if anyone can advise you, they'll be the ones.

Davesnave

justpgraham1 wrote: »

Hi all

Well an update from me - sorry its taken so long!
........ another house did magically appear and its far better than the above property. Its a six bedroom detatched, 4 bath with conservatory, brand new fitted kitchen with no work needing doing at all apart from a change of decor in the lounge. Its way big enough for our needs and we wouldnt need to move again unless we want to downsize when the kids are older. It has a tandem garage which is huge and will be converted into a room for the hubbys fish tanks, which hes really pleased about.


So basically its all happening at once, just hope i dont go into labour before my section date which is what happened with my 2nd baby! I need everything to run like clockwork and happen on certain dates because if they dont its def gonna throw a spanner in the works!!!

Anyway, wishing everyone all the best for 2009

Justp x

Great result there, justjp! It's so good to hear about people who've been flexible & patient having success like that.

Sometimes things don't work out, but later you realise that it was all for the best. Pity you can't realise it at the time, of course!

Best of luck with the timing:eek: and I'm so pleased those fish will be OK too!

ourrac

Thanks Davesnave
I think we're going to have to. We are just looking at our contract now and its a bit confusing.
Also they say in the contract that they will send mail shots to prospective buyers but I know of three people who have registered with them looking for similars houses to mine who have not received my details .
Oh well, it's taught us a very big lesson for next time.

elona

Viewers have just gone. They seemed to like the house and said the photos did not do it justice and it is the nicest area in the town.

Did say they were worried if now is a good time to buy what with the credit crunch etc.

I kept my mouth shut and smiled sweetly.

DD (23) came home from Oxford while they were here and fortunately did not make a loud comment on how much tidier and spacious the place looked.Phew!!!

Making a late Sunday lunch and hoping the huge Yorkshire pud will rise properly this time.