True Value OF YOUR PROPERTY!!!!

Gorgeous_George

No, I have nowhere near that much hair!

I might have to re-evalue my position on the English language.

GG

Cherrytree

Hiya

I think that anyone who is selling will find it very difficult to realise that the value of their property has taken a tumble, and I can only empathsise (sic?) with anyone in that situation.
My parents are in a similar position, but have now decided to stay put because they cannot afford to move. (My mothers a serial house mover (I think she gets bored), and always manages to time it wrong.)

I on the other hand are in the process of buying and have to bear in mind property price predictions, etc. But at the end of the day when we buy we will be planning on staying for many, many years to come.
I think offers subject to valution are sensible.

But I'm new to all of this and have been reading and lurking on this board for quite a while trying to absorb as much info as I can and I have found many of you to be very helpful.

Its always difficult when emotions get in the way of making a decision.


GG - I did wonder if it was more of an americanism. I only did an online check briefly.
Just checked again, at askoxford.com you are correct it says:

valuation



• noun an estimation of something’s worth. — DERIVATIVES valuate verb (chiefly N. Amer.).


By the way its nice meeting you all, and finally getting to post (I'm a bit shy, no really) .

Gorgeous_George

I think I've lost the argument - on a technically.

The Americans are to blame yet again. As if the credit crunch wasn't enough, they make up silly words when we already have a suitable alternative. I thought we sent all the criminals to Australia (no offence Generali).

GG

TEDDYRUKSPIN

MIAOW (mean't to be a cat sound). Only joking Gorgeous George.

The point of this was to tell all people not to over-value their properties when they are ready to remortgage or even buy a property.

Once again, this is just a guide. The above are right! If you want to put a property that is worth £100k at this current market at £1million pounds! It is all up to you! Just remember it won't sell.

Be realistic! Allow your property to sell and allow the market to move again!

Jonbvn

Gorgeous_George wrote: »

I think I've lost the argument - on a technically.

GG

No you haven't! This is a UK based forum/website so UK English applies regardless of what Bill Gates et al think!

Gorgeous_George

The point is valid but that's not how it works in real life.

Sellers, understandably, wish to achieve the best price for their houses. Would be buyers cannot borrow enough to pay these prices so there is a stalling of the market until the gap closes. This can happen in one of two ways. Either prices fall or borrowability (now who's making up words) increases. It is likely that a combination of the two will see the stalling ease but it will take time.

Sellers have a bottom line.

GG

fattony

Is that true, property prices are what they were in 2006? a house 4 doors down from me sold for £198000 in 2006, Im hoping mine is worth £180000 but not sure if this is realistic, any advice?

karie

TEDDYRUKSPIN wrote: »

Be realistic! Allow your property to sell and allow the market to move again!

It is all very well to spout out lines like "every property will sell at the right price" or "allow the market to move again", but sellers have a certain minimum price they will have to hit - and for those who bought in the last few years that will be higher than those who bought 20 years ago.

And yes, maybe some people are being unrealistic, and yes, maybe some people should reconsider their asking prices, but in reality not everyone can.

Not every seller on the market right now is trying to make a fortune out of a sale. Some people just want to break even or take as small a hit as possible and move on.

A bit of realism is necessary on both sides if you ask me. As a buyer, if you think something is overpriced, then just don't buy it. Simple as that.

LandlordLee

Valuate is a word GG.

A house is worth what someone is willing to pay, like any item we pay for.

Valuers are only human beings and the value is based on estimate. If you had 3 people to do it they would all be different, and often they are under guidance from mortgage companies to put downward pressure on valuations.

I had one valued and they gave me a value basen on if it had to be repo and sold quickly! This is the reality.

bryanb

Gorgeous_George wrote: »

I think I've lost the argument - on a technically.

GG

Technicality?