what price are people looking at?

confused31_2

mayzie wrote: »

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?

Im not going to comment again as it seems to fall on deaf ears, if you price your house at 500,000 people will come in and still expect to get 10% off, so they will offer about 450,000 pound.

Like someone said earlier you need to hope someone falls in love with your house, but you then said you have had loads of viewers and no one has made a offer, doesnt this tell you something????

If i had 550,000 pounds and i viewed your house and wanted it i would make a silly offer first to test the water,you have got to ask yourself why no one has made a silly bid for it, say by offering 400,000 pound, or have they????

If you look on a lot of posts on here, see what people say when they say what should i offer for this, there are loads of properties for 200.000 pound and people are making offers of 30 or 40 thousand pounds less and they are being accepted.

confused

Emy1501

The house has been on the market since the beginning of the year at 550K with no interest. House prices have fallen by 10% since then so therefore I'd be suprised if there is any interest at £500K.

If you house is worth £480K then someone will offer it even if the house is put on a 500K. Yes you may get some silly offers but if it worth 480K then someone will eventually offer that too you.

I suspect in reality as some have said the house is probably worth closer to 400K than 500K it seems that the OP is just chasing down the market.

Its a really nice house though so with any luck they maybe lucky and find someone who falls in love with it

GDB2222

mayzie wrote: »

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

FWIW, my personal preference has always been to price at very close to what I wanted/needed to sell for. I also don't think much of houses priced at £499,999, but that's not such an issue. Accordingly, if I needed £480k, I would price at £485k. At least then I wouldn't have to worry about what price to set any longer.

The other thing that is essential to factor in, Mayzie, is why you are selling in the first place? Whether you are trading up/down/sideways in price? If you are trading up, then I would suggest not being too fussed about selling right now. The more prices drop generally, the smaller the gap you will have to fund for your next house. If you are trading down, then the reverse is true.

You should definitely factor in what you think is going to happen to house prices generally. Concensus on this forum about a month ago was for a 20%-25% further drop.

Finally, you may need to get at least a certain figure in order to pay off your mortgage and/or to have a decent deposit for your next house.

GDB2222

Emy1501 wrote: »

Its a really nice house though so with any luck they maybe lucky and find someone who falls in love with it

It's a nice house, and the garden and location are what's really great about it.

mayzie

confused31 wrote: »

Im not going to comment again as it seems to fall on deaf ears, if you price your house at 500,000 people will come in and still expect to get 10% off, so they will offer about 450,000 pound.

Like someone said earlier you need to hope someone falls in love with your house, but you then said you have had loads of viewers and no one has made a offer, doesnt this tell you something????

If i had 550,000 pounds and i viewed your house and wanted it i would make a silly offer first to test the water,you have got to ask yourself why no one has made a silly bid for it, say by offering 400,000 pound, or have they????

If you look on a lot of posts on here, see what people say when they say what should i offer for this, there are loads of properties for 200.000 pound and people are making offers of 30 or 40 thousand pounds less and they are being accepted.

confused

It does not fall on deaf ears but I am also listening to what others have to say:o
Up north people do not usually make an offer silly or otherwise until they are in a position to buy.Don't know if they do where you live? See posts #5 and #13

My agent does not believe reducing the price will make the slightest difference as very few are looking for a prop. near this price range at the moment.

Whether somebody accepts an silly offer depends on how desperate they are to sell.

Catblue

mayzie wrote: »

My agent does not believe reducing the price will make the slightest difference as very few are looking for a prop. near this price range at the moment.

It is always about the money. Your agent sounds like a bit of an idiot - he doesn't think that it will sell if it is cheaper? But somehow it will magically sell if it is left on the market at the more expensive asking price?

When you got him around to value the property, did he say that there is no point putting it on the market as it will not sell? Bet he didn't.

confused31_2

mayzie wrote: »

It does not fall on deaf ears but I am also listening to what others have to say:o
Up north people do not usually make an offer silly or otherwise until they are in a position to buy.Don't know if they do where you live? See posts #5 and #13

My agent does not believe reducing the price will make the slightest difference as very few are looking for a prop. near this price range at the moment.

Whether somebody accepts an silly offer depends on how desperate they are to sell.

You say in post 5 your estate agent said they are only selling repossessions, why do you think they are only selling repossessions???

They are selling repossessions as they are sold by the banks, and the people who used to own the house have no chooice in what its sold for, as the banks are just trying to get as much money back as they can.

These are the kind of properties you have to compete with, now why would i pay 550,000 pound for your house when i could get a house similar at auction for about 300,000 pound because someone has not been able to pay thier mortgage.

Thats probably why your estate agent is saying you wont sell, anyway enough said im stepping out of this one.

good luck with your sale.

confused

pickledpink

confused31 wrote: »

I havent sold and my house is still up for sale, its not a massive house and its currently on the market for 140,000 pounds, but it was originally on the market for 179,000 pounds, what i seem to understand that you dont is houses have come down in price and the only way you will sell is being the lowest in a desperate market.

You can market your property at whatever price you want but i personally dont think you will get a buyer for 480,000 pounds, but you carry on im just telling you the way the market is.

Now if you market it at 480,000 and someone comes to view and wants to make a offer that s well below what you want, you just have to say NO.

Its not hard to say no and it wont cost you anything to say no either, what im saying is lower the price see if you get any more interest, then if someone makes a offer your happy with accept it, if they dont make a offer your happy with say no.

I have a 3 bed roomed semi and its nearly 30,000 pound cheaper than any other 3 bed roomed semi in the area, ive dropped it to the same prices as 2 bed roomed properties and we still have had no interest.

Now if someone did come in with a low offer for mine, i would look and seee what was out there and try and knock down the same ammount, as what they have with mine, if i couldnt i would just refuse the offer for mine.

If i thought it was too good a offer to turn down i would sell and then rent if no other property was there for me.

No one likes to give things away, but sometimes denial will just drag it out.

Your house is nice, and it looks nicer than the houses i picked out but they are a lot bigger, cosmetically they might not look better, but when people move into a house they like to do their own things with it.

i would just stay where you are, and to be honest the way you are marketing your property i dont think you will have a choice.

confused

Confused,

You're obviously more confused than you realise:rotfl:

There you are banging away TELLING people to lower their prices if they want to sell......and then you go on to say....

"I have a 3 bed roomed semi and its nearly 30,000 pound cheaper than any other 3 bed roomed semi in the area, ive dropped it to the same prices as 2 bed roomed properties and we still have had no interest."

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

I think you're a weeny bt jealous actually!:p

That's why you keep telling people to drop their prices - you're just JEALOUS!:D

mayzie

I am trying to take on board all the opinions that have been voiced on this thread.In Summary:

The original question was, not what do you think this property is worth?

It was originally on the market for £565000 15% off brings it down to £480250

I have always accepted that it is now worth less(15%) than it was at the begining of the year and as stated in an early post I am willing to accept an offer of £480000. Price was not really the question even though this took over many of the answers:D

The original question was (although perhaps not but clearly enough) Do I put it on at £480000,just under £500000 or factor in a 15% discount and therefore leave it at £550000 (now only 13% discount as already reduced 15K)

I think I have got this correct:

Pastures new,Dubsey,Catblue and Emy150 think just under £500k is best with the veiw to getting £480k (buyer thinks they are getting reduction of 4%)

Monkeymaster thinks £495 fixed price with the veiw to reducing £15k so the buyer feels he has got something knocked off.(almost same as above)

Hethmar and GDB2222 would put it on for what (or near enough)I would hope to get £480k Somebody else (sorry I have forgotten who,and if I go back and check I loose this)said they would not look at a fixed price.

Big moose thinks I should factor in a reduction (so if it was 15% I would leave it at £550000)Would 4% as above be enough?

and confused thinks £400k then £450k then £480k but possibly only being offered £425k

Five think £20k ,4%(approx) off the new price (£499,950)will satisfy a buyer.Two thought basically take it down to the limmit . Two people also thought people expect a reduction,Monkeymaster of 10%

I will have to think about what is best. The one thing I do know is that nobody knows for certain and I will not know until /if it is sold.

Thanks everybody for your contributions.

Catblue

The worrying thing is that the views on here are likely to reflect at least some of the views of your potential buyers.

Good luck with it.