what price are people looking at?

mayzie

confused31 wrote: »

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.
confused

I do not really know how to answer this one! I am in the enviable position of living in a lovely house and not being forced to sell. I do have a choice on what it will or will not be sold for!So I am not even trying to compete with a repossession.If I was desperate then it would be a different matter.

confused31_2

pickledpink wrote: »

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."



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

yeah im jealous that they cant sell their house ive dropped mine and im prepared to drop it again , i could say drop mine 2000 pound and say ive dropped it but i dont think it would make much difference.

Mine hasnt sold and neither has theirs, but if you can pickled please explain what i am jealous about by telling people to drop their house prices to sell????

Now my property is marketed at 140,000 pound and it was originally up for 179,950, i realise i have to drop my price, so ive nearly knocked 40,000 pound of a house that is worth at lot less than the op.

Ill put it in simple terms pickled, ive dropped mine 22% and the market as fell 15% since last year, I know i havent sold and the market is dead but im prepared to keep on dropping mine as the market falls, to make sure im ahead of the fall, so for instance if my house is marketed 15000 pound lower than similar properties im hoping people they will view mine first:rotfl:

but all theis jealousy thing as confused me even more:rotfl::rotfl::rotfl:

Maybe i am a weeny bit jealous that they are nowhere near as me to selling there house as what i am.

saying that i am a bit jealous that i dont own that house, as when i sell mine i will only get a 5% percent deposit from the sale of my house for my next property.

http://www.rightmove.co.uk/viewdetails-23270795.rsp?pa_n=1&tr_t=buy

:T

confused

confused31_2

mayzie wrote: »

I do not really know how to answer this one! I am in the enviable position of living in a lovely house and not being forced to sell. I do have a choice on what it will or will not be sold for!So I am not even trying to compete with a repossession.If I was desperate then it would be a different matter.

well you have answered the question yourself and your estate agent has told you the same.

You have obviously told the estate agent what you wanted and he has said no one will buy this at the moment as they are all buying repossessions.

You then have gone on to say you are in a lovely house and i think everybody agrees with that, i think there are going to be a lot more repossessions, so if i was you i would stay put until everything as calmed down.

Eventually you will get the price you want but i cant see it being in the next year, and like you said you can not compete with repossessions.

confused

confused31_2

mayzie wrote: »

Hi,
It is on rightmove http://www.rightmove.co.uk/viewdetails-8723952.rsp?pa_n=1&tr_t=buy&mam_disp=true

but I do not think this link will find it

You may need to go to SK23 £550,000

It just seems that very few people have this amount of money to spend.
My agent has said all along that reducing it will make no difference as there are not the people looking and the only ones that are selling are repossessions.

what your own estate agent said, so you really need to wait until all the repossessions have sold and the market as re stabalised.

confused

pickledpink

confused31 wrote: »

yeah im jealous that they cant sell their house ive dropped mine and im prepared to drop it again , i could say drop mine 2000 pound and say ive dropped it but i dont think it would make much difference.

Mine hasnt sold and neither has theirs, but if you can pickled please explain what i am jealous about by telling people to drop their house prices to sell????

Now my property is marketed at 140,000 pound and it was originally up for 179,950, i realise i have to drop my price, so ive nearly knocked 40,000 pound of a house that is worth at lot less than the op.

Ill put it in simple terms pickled, ive dropped mine 22% and the market as fell 15% since last year, I know i havent sold and the market is dead but im prepared to keep on dropping mine as the market falls, to make sure im ahead of the fall, so for instance if my house is marketed 15000 pound lower than similar properties im hoping people they will view mine first:rotfl:

but all theis jealousy thing as confused me even more:rotfl::rotfl::rotfl:

Maybe i am a weeny bit jealous that they are nowhere near as me to selling there house as what i am.

saying that i am a bit jealous that i dont own that house, as when i sell mine i will only get a 5% percent deposit from the sale of my house for my next property.

http://www.rightmove.co.uk/viewdetails-23270795.rsp?pa_n=1&tr_t=buy

:T

confused

Yep!! I knew it - you're dead jealous of Matzies beautiful house. You'd LOVE to live there - but even if she sold it at half price YOU'D never be able to afford it!!!:p

Can you put a link up of your rabbithole please? I'll tell you what I think YOUR'S is worth!!

I think Mayzies is lovely - and I wouldn't drop a penny below £495.000 if I was selling it. On the other hand - I'd pay a premium for it!!

It's beautiful and slightly different - and unusual properties always hold their price better; less competition see!:p

Comparing hers with a repo is impossible..............very stupid of you to suggest it. You're confused.:j

You should concentrate on selling your rabbit hutch - you're the one desperate to sell.:rotfl:

mayzie

moggylover wrote: »

Now I think that is a really silly post in the current climate! Basically, houses are only WORTH what you can GET!

I have two places on the market at the moment, I have had to be realistic and the prices have been reduced in line with the market drops and are about 17% lower than they were are the start of the year!

As to sellers who have fixed prices - I think that is a thing of the past, and not likely to work at all until the next time prices start to rise - which is not going to be soon (at which time no-one will want to use them of course:rolleyes: ).

Good luck Maysie - but do consider in the fact that the house above yours will be going down in price just as quickly as your own and that therefore the "losses" are not really what they seem.

".

You don't like fixed prices.
You have dropped 17%.

How much of a margin have you left between what you are asking and what you would accept?

In other words what % have you left for the buyer to knock off if any?

I am not really interested in what people think it is worth at the moment.To me it is worth £480000.Because at the moment (taking into account the market )I would not be able to buy the prop. I want if I got less.

This is a 15% drop from the begining of the year.
It is a drop of 13% on the current price

1.Would you market mine at the current price leaving the 13% offers invited?
and still let it go at £480000 (at this price it it in 2 brackets on right move)

2. with a smaller margin say 4% on at £500000 offers invited and still be prepared to drop to £480000? (at this price it is in 2 brackets on right move)

3. As 2. but £499950 disadvantage of only being in one bracket.

4. Put it on at £480000 without stating fixed price (as you have already said you don't like them)and just wait until somebody offers this?

I am prepared to watch the market and if I believe I can get the one I want for even less then I am prepared to adjust the figure.Not until, as there is no use me selling and not being able to afford the one I want.If this one goes I am back to square one as I am reflecting the deal I think I should be able to get.

This is why I like the idea of
http://www.completingchains.com/ were you get the interest throughout the chain and the discuss price

PasturesNew

jams001 wrote: »

what price are people looking at? i don't know...:j

I now have to find out how to ignore somebody, so I can ignore this pointless farcker.

lostinrates

mayzie wrote: »

You don't like fixed prices.
You have dropped 17%.

How much of a margin have you left between what you are asking and what you would accept?

In other words what % have you left for the buyer to knock off if any?

I am not really interested in what people think it is worth at the moment.To me it is worth £480000.Because at the moment (taking into account the market )I would not be able to buy the prop. I want if I got less.

This is a 15% drop from the begining of the year.
It is a drop of 13% on the current price

1.Would you market mine at the current price leaving the 13% offers invited?
and still let it go at £480000 (at this price it it in 2 brackets on right move)

2. with a smaller margin say 4% on at £500000 offers invited and still be prepared to drop to £480000? (at this price it is in 2 brackets on right move)

3. As 2. but £499950 disadvantage of only being in one bracket.

4. Put it on at £480000 without stating fixed price (as you have already said you don't like them)and just wait until somebody offers this?

I am prepared to watch the market and if I believe I can get the one I want for even less then I am prepared to adjust the figure.Not until, as there is no use me selling and not being able to afford the one I want.If this one goes I am back to square one as I am reflecting the deal I think I should be able to get.

This is why I like the idea of
http://www.completingchains.com/ were you get the interest throughout the chain and the discuss price

The completing chains idea seems good.

I think what people are trying to say is you might need £480k to buy the house you want at what they are asking for it but THEY might find they need to drop their price accordingly in the market too. Have you found the house you want to buy? Have you discussed the situation with the owners/agent of that one?

Edale

I think it is wrong to have your house on so much higher than the price you would accept. You would be so much better pricing nearer the £480K mark. As a prospective purchaser around this figure I would look at properties priced from £350K to £550K but would be more inclined at looking at something priced nearer to what it is worth. A lot of people feel uncomfortable asking for such a big discount, it is your home and some would see it as insulting you. Hence you may be missing viewers that could afford what you would sell for.

Your best strategy is to get as many viewers as possible by pricing very near to the £480k mark then do a really good selling job when you have a viewing. You are better having the luxury of rejecting offers you feel are too low than having no offers at all.

I think most purchasers want to see properties priced realistically and you need to have your agent on side justifying the price if and when an offer comes in.

Until last week I lived not too far from you (the username gives a clue) we managed to sell earlier this year having been on the market since January 07, we had two sales fall through and were 'sstc' from Feb 07 to Aug 07 we originally were on the market for £360k (first two 'sales' were at asking price) dropped in Sep 07 to £340k and were lucky to accept an offer for £325K in April this year. We noticed the market detoriated a lot in that time and viewings decreased from 2 a fortnight when we first went on to less than 1 a month, I can only think things have got worse. Properties in your area are quite individual and you do need a certain element of luck even if it is priced correctly but when you find the right buyer they don't have a dozen properties to chose from!

Good luck and I know how you feel when you want to move on in your life but are frustrated by the property market.

mayzie

lostinrates wrote: »

The completing chains idea seems good.

I think what people are trying to say is you might need £480k to buy the house you want at what they are asking for it but THEY might find they need to drop their price accordingly in the market too. Have you found the house you want to buy? Have you discussed the situation with the owners/agent of that one?

I need this amount to buy the prop.I would like, if it was dropped a similar %.

Back to the old question put another way!:eek:

If somebody had £499000 to actually spend on a house would they look at:

A. Rightmove bracket £475000-£500000

OR

B. £500000- £550000 in the hope of finding one at £550000 that they would get for £500000?