what price are people looking at?

BigMoose_2

PasturesNew wrote: »

There's definitely a mental barrier with the £500k because of the stamp duty.

Whatever price you put it on at, people will want to make an offer. So you need to factor that in. I doubt many people want to pay the asking price in a falling market. The Stamp Duty is an important factor too.

geoffky

I refuse too look at fixed price houses it tells me the sellers are fools who are kidding themselves that their hose is worth that much when the market tells me different...

mayzie

noyk wrote: »

A buyer would need to earn 110k per annum to buy (mortgage @ 3.5 x salary) it if it sold for 480k and the buyer put down a 20% deposit (96k). I don't know how realistic that is for your area.

I am not expecting a first time buyer to buy it!:rolleyes: I would hope that somebody with equity already in a property would.

mayzie

dubsey wrote: »

Probably no help at all, but IMHO I do think that if you priced at £480k anyone viewing would be expecting to get it for less. Even if you added fixed price it seems like more of a challenge IYSWIM! I would probably go just under the £500k, as again I think it's a mental thing with the next £100k up seeming less attractive.

For what it's worth I prefer yours to the others that confused found, it looks beautiful.

I was thinking of £500k so that it was also seen in £500k-£550k.
Are you saying that it may be better to put it at £495950 so that it is not competing with the higher properties? I had not thought about this but it may be worth taking on board.:T

What does IYSWIM mean?

mayzie

littlesos wrote: »

None of the houses you selected compares with the OP. The settings are completely different, if you want a big house with a shoebox garden on a main road you will pay less than you will for a house on a large secluded plot.


To the OP...

I know the area well if I were trying to sell it I would drop the price to a smidge under £500k (mental barrier), so you have £20k to negotiate with.

It's not far from my mums house and if I had the money and a husband who was willing to move back up there I'd buy it, but that's not much help to you is it!

Good luck

Rach

Thanks, it is encouraging to have somebody who knows the area!I feel this is part of the problem,people look at the house on line and perhaps dismiss it without knowing the area. Five houses down from me, the house (and land)is on the market for over a million.

Mine because of the setting and location could be of interest to somebody with another £100k-£150K +to develop the upstairs into a far bigger prop.Our footprint is very large.

Do you feel the same about £499950 even though I will miss out on the people looking in £550000-£500000 bracket? I suppose people will look in both brackets?

Catblue

I do know the area and it is a lovely house.

You just need someone to fall in love with it (which is easy to do) and to raise the cash for it (which is hard to do these days).

I reckon £500K might swing it if you want to move soon, otherwise you could try to hold out until the market picks up, which could be ages yet.

I think £500K makes your house look good value compared to the newish builds on estates which are on rightmove priced between £450K and £500K. You have a lovely plot and they erm don't, so yours will stand out.

In answer to your original question, our max budget is £350K so we never look at anything above that. I don't want to be tempted to look at things we can't afford, particularly in these trying times.

IYSWIM = if you see what I mean.

mayzie

confused31 wrote: »

If you know the area well you will know its a bungalow not a house none of the houses are probably as nice as the other persons but if you search the postcode a lot of people have dropped the prices a lot more than 14000 pounds in 10 months.

If i had a load of money i may be interested, but i would offer no where near 550,000 pound for that property it would be more like 425,000 pound but thats my point of view.

We will wait and see we have all got time on out hands lets see if it sells, if it hasnt sold in the last 10 months for 550,000, why do you people think it will sell for just under 500,000 when prices have dropped nationally 15%???

All im saying it doesnt matter what they market the house at if they dont want to accept the offer they dont have to, its not going to cost them anything.

And like most people say, a person will only pay so much and if its too much they wont.

The house itself is like a bungalow with a bedroom upstairs, the grounds it is in, are nice, but one thing that i wouldnt like is having 2 bedrooms downstairs.

like the person said they are not desperate to move and at the price they have set it wont move, but thats my opinion and you have yours lets see whos right.

confused

See previous post to Rach. I take on board what you are saying-You do not think it will sell for even £480000 but I will not sell it for less at the present time as we would not be able to buy the prop. we want and so we would choose to stay put.

Somebody with even more money would get rid of the family bath downstairs and put a staircase in this space and have 4 large beds upstairs.The downstairs beds could them become formal dining room and office guest suite

The arrangement at the moment is great as it is flexible. We had to make the upstairs a bedroom for sale but prior to this it made a great office!

Upstairs also good as main bed (we had it as this for many years) until adults could no longer manage the stairs;) then it could be used for children/grandchildren. This would save the new owners Ks as the would not have to move!:rolleyes:

mayzie

BigMoose wrote: »

Whatever price you put it on at, people will want to make an offer. So you need to factor that in. I doubt many people want to pay the asking price in a falling market. The Stamp Duty is an important factor too.

We have got wildly off the original question,But you have brought it back up and answered it:D I did not know whether to keep it at £550000 knowing and willing to be dropped to £480000 or whether to drop it to just below £500000. We have got side tracked on to what it is worth: 1. to the buyer (which can not be decided from seeing it on rightmove without knowing the area) and 2.what it is worth to us so that we do not wish to sell it.

I feel as though most people are saying drop it a little but leave enough to drop it some more.

Most go and eat!
Will come back later but I can not keep up with the post! Thank you all ,I am reading them with interest but can not reply to them all.

mayzie

geoffky wrote: »

I refuse too look at fixed price houses it tells me the sellers are fools who are kidding themselves that their hose is worth that much when the market tells me different...

What happens if they are priced realistically, down to the last £ and the people just want a sale. They perhaps do not want time wasters whom they show around then offer something ridiculous.I would prefer to know exactly what I could get it for.

mayzie

Catblue wrote: »

I do know the area and it is a lovely house.

In answer to your original question, our max budget is £350K so we never look at anything above that. I don't want to be tempted to look at things we can't afford, particularly in these trying times.

IYSWIM = if you see what I mean.

But surley if you are looking at £350k you would get it for £330K?
So if you can afford should you be looking at say up to £375k?