what price are people looking at?

mayzie

hethmar wrote: »

If you put it at what youd accept, you can always turn down people who try to offer too low below that (if you choose to do so)

But would people who can afford what you would accept look in this bracket?

stevie_wonder

PasturesNew wrote: »

There's definitely a mental barrier with the £500k because of the stamp duty and so I think most people will probably not look over £500k just because of that.

So, price wise, I think it's important to get it under the £500k in the listings just to get it viewed by more people.

I agree and would be pricing it under £500k, so that it appears on more search results on rightmove etc. Also £500k is the stamp duty level, as soon as you pay over £500k you have at least £4/5k more to pay.

Its hard pricing your property and I faced the same dilemma:

-price at what you realistically want, get more through the door, but then face buyers trying to knock 15/20% off your "best" price

-price higher, fewer viewings, but easier to accept that your price will be reduced.

we went with the first option

mayzie

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.

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 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

(I have missed out chunks that I do not have any comment on)

If your house was on at 179000 and is now on at 140000 (40k less) but it is only 30k cheaper than similar in the area, then in effect you have only dropped 30k as yours must have been overpriced in the begining!

And it still has not sold!

If you think that reduce ,reduce,reduce is the way to go why stop here?

Perhaps the problem is not the price but the inability to get a mortgage?

mayzie

stevie_wonder wrote: »

I agree and would be pricing it under £500k, so that it appears on more search results on rightmove etc. Also £500k is the stamp duty level, as soon as you pay over £500k you have at least £4/5k more to pay.

Its hard pricing your property and I faced the same dilemma:

-price at what you realistically want, get more through the door, but then face buyers trying to knock 15/20% off your "best" price

-price higher, fewer viewings, but easier to accept that your price will be reduced.

we went with the first option

Got it in one:D

By putting it on at your best price did you get more veiwers that could afford your best price or were they mainly the ones that wanted to knock15/20% off. Obviously at least one did, the buyer!

Surley under £500000 appears on less search results than if it was on at £500000? It would be on £500000-£550000 as well as £475000-£500000

confused31_2

mayzie wrote: »

(I have missed out chunks that I do not have any comment on)

If your house was on at 179000 and is now on at 140000 (40k less) but it is only 30k cheaper than similar in the area, then in effect you have only dropped 30k as yours must have been overpriced in the begining!

And it still has not sold!

If you think that reduce ,reduce,reduce is the way to go why stop here?

Perhaps the problem is not the price but the inability to get a mortgage?

i think all houses are over priced, at the begining i went with what the esate agent said that was the price to go with infact it was the lowest price of the three estate agents we had.

Theres a house exactly the same as mine still at 189,950 and its been like that for 10 months, having said that they paid 169,000 pounds for it 2 years ago, so maybe they need that to move on.

what you have to rememember is houses have came down 15% at least in the last 12 months and my house as been on the market for 12 months so in the estate agents eyes and mine my house was not over priced at the begining.

plus other people have dropped the prices of their houses due to not selling not as much as me but there have been the odd 10,000 pound falls.

Ive put it at 140,000 if some one makes me a offer i will consider it, but if its not enough i will turn it down, i am moving up the ladder so whatever i have to take off mine i will try and take off the other house.

If i cant get it off the house im trying to buy i will turn the offer down for mine, having said that i looked at some auction prices yesterday and i think if a repossession came up in my area i might be tempted to buy that and rent my current house out.

confused

mayzie

Edale wrote: »

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.

"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."

Perhaps we speak a different language up here but you are one of the few people who can see where I am coming from and get to the point.

It seems as though some people will want a % off whatever price you put it on at.I will just have to hope they are not expecting 10% as

I am thinking that £499950 (due to mental block) or £500000 would be best this still allows a discount of 4%

confused31_2

mayzie wrote: »

"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."

Perhaps we speak a different language up here but you are one of the few people who can see where I am coming from and get to the point.

It seems as though some people will want a % off whatever price you put it on at.I will just have to hope they are not expecting 10% as

I am thinking that £499950 (due to mental block) or £500000 would be best this still allows a discount of 4%

i personally dont think you will sell at that price, if you trust you estage agent so much why dont you phone him up and say look i want to sell now, what should i price the house at to sell???

Theres only one house down your road sold for over 500,000 pound and that was in 2006

confused

mayzie

confused31 wrote: »

i personally dont think you will sell at that price, if you trust you estage agent so much why dont you phone him up and say look i want to sell now, what should i price the house at to sell???

Theres only one house down your road sold for over 500,000 pound and that was in 2006

confused

Just been to see him! He says "£500000 you may get more."

Lenton Start Lane,
Whaley Bridge,
High Peak,
Derbyshire,
SK23 7BP£292,500
Semi-Detached
Leasehold
Not New Build14-Dec-2006
Map (SK23 7BP)Rake End Start Lane,
Whaley Bridge,
High Peak,
Derbyshire,
SK23 7BP£594,000
Detached
Freehold
Not New Build09-May-2006
Map (SK23 7BP)Willow Cottage Start Lane,
Whaley Bridge,
High Peak,
Derbyshire,
SK23 7BP£485,000
Detached
Freehold
Not New Build31-Oct-2005
Map (SK23 7BP)Bracken Clough Start Lane,
Whaley Bridge,
High Peak,
Derbyshire,
SK23 7BR£450,000
Detached
Freehold
Not New Build03-Sep-2004
Map (SK23 7BR)Roundhill Start Lane,
Whaley Bridge,
High Peak,
Derbyshire,
SK23 7BP£395,000
Detached
Freehold
Not New Build28-Nov-2003
Map (SK23 7BP)




Note the first one is a semi bung.There is one other semi in the road that is also for sale £545000.Apart from these mine would be the next cheapest.Comparable prop.to my neighbours are the ones on Reservoir Rd 710k-750k

I think the fundamental difference between the marketing of yours and mine is:
People can put in your post code see yours and see similar ones that are dearer.Therefore they can assume that yours has been reduced.
Because mine is unique,if I reduce it, they would not know unless I state I have.(which I would not do)

Hence the marketing problem.
If I put it on at £500000 or £4999950 can I be sure that those who have £480000 will look at it ,as it will only be reduced 4%?

Milly1974

I think I would be tempted to market at £510,000.

If I was looking to buy, I wouldn't expect to be able to knock a house priced at £550,000 down to the lower stamp duty bracket, as I would think that something priced at £550,000 would be intended to go for over £500,000.

However, if I see a property not much over a particular bracket, I figure that the seller intends the house to be negotiated down below that benchmark. For example, I have been eyeing up (wishfully) a house in my area at £199,950, thinking that if I were in the position, I would offer £174,950 and no more.

Just a thought, and good luck!

confused31_2

pickledpink wrote: »

Actually, I don't believe you've even got a rabbit hutch. I reckon you rent on a squalid sink estate!:eek: How come you've never put the link up, eh? You're just a blob-at-home type of freak who has nothing better to do with his Jobseekers allowance than to try and talk the market down cos you're a twisted, bitter LOSER!:p

You're probably out of work (or you work from home earning pin money licking envelopes or something).

MY house, by the way, is well out of your league.............:p unless you've got a spare half million quid hanging around!!!:rotfl:

Run along little BLOB!:T

you need to get a job, and grow up, you obviously have to much time on your hands stuck in that high rise.

Has for working from home,?you seem to know a lot about it, can you earn much from that?

Are you a bitter estate agent, you seem to have a lot of time on your hands, im guessing your a out of work estate agent whos bitter?

Ive broke up now from work till after christmas, i could do with a little pocket money.

So any tips on your licking envelopes would be a help, mind you i bet your used to licking things, i could imagine you have licked a lot of windows in the past.:p

I wouldnt put a link up of my house, why dont you put up a link of your so called half a million pound house. yeahhhhhhhhhhhhh rightttttttttttttttttt hehehehehee.

I think your jealous that everyone on here has got more than what you have, saying that you have got a very big imagination.

I can picture you now sat in front of the tv watching jeremy kyle, with brown sauce stains down the front of your blue shell suit, and with your cheap jewellery on, ive glad you have posted on here as its tickled me.:rotfl:

And remember no matter what you havent got tickled, no one can take your walter mitty lifestyle away from you, so keep on taking the medication.:T



confused:o