Property Bee - Overpriced Homes

Bothered!

pandamonia wrote: »

your still over priced then you should be more at 235k but next month you should be near 232k

if they are selling as low as 180k then you dont have much chance do you?

The houses selling at 180k are terraced 2/3 bed town houses, mine is a 4 bed semi with own drive, garage and large garden!. I am priced at 235k nowm came on in september at 250k when other 4 bed semi's were 280K.

pandamonia

Bothered! wrote: »

Of the 43 there have been no negative comments, just lots of people sitting in rented in my area looking for a bargain.

Only selling to satisfy by EX, but every drop is money from his pocket as he has not got to buy again, mine loss on price drop is not that good but I have to buy elsewhere or rent?.

To be honest I think I am underpriced in comparision to other agents stock, the agent I am with has majority in my immediate built up area so is controlling sellers prices and drops to settle deals with their buyers. I can delay sale but not sure what future holds!

Just because your competition is higher than you on price still doesnt make your house a good buy, 43 people and no buy? that seems alot.

Bothered!

pandamonia wrote: »

Just because your competition is higher than you on price still doesnt make your house a good buy, 43 people and no buy? that seems alot.

problem is had plenty of interest from people wanting to buy but unable to sell their own to trade up. others made silly offers at start and some went on to buy up repo's , the buyers are just not around. My friend dropped her house by 100k and still cant sell (475 - 375k).

chucky

pandamonia wrote: »

Just because your competition is higher than you on price still doesnt make your house a good buy, 43 people and no buy? that seems alot.

i did read a while ago that it was 50 viewings on average to get a sale - will try to find a link.

pandamonia

I think the rational behind buying has now changed.. people are actualy thinking "is this worth 350k?"

does it have 7 bedrooms for 350k? does it have huge land? or is it just an overpriced 4 bed detached.

the price of some properties and how they justify the price is ashtonishing and has been for many years.

now things are changing. thank god.

cranezoe

looking in our area you can see that properties priced appropriately are starting to shift and those that are on at a high price are simply still sitting there.
we've been marketing the same time as our next door neighbours, same house and when we sold ours was priced £15k less which got us the viewings. people asked us why next door hadnt dropped their price (I dont know) and said they hadnt even considered viewing as it fell in the wrong bracket etc. result? we took an offer a further £10k below asking and the neighbours have dropped slightly- to £20k more than we sold for. so we'll see if they sell. maybe though, you just never know.

cranezoe

when we were looking for a house it was really hard to work out who was appropriately priced and who wasn't. most agents told us not to look at the price, to view if we liked it and then to negotiate.

one local EA has properties valued quite a bit higher than the other EAs. so this EA has the most on the books.... and the least sold boards. I always look to see whats sold and they never seem to sell anything so I dont understand why people go with them - is it the higher valuation?

Toto

My area is the same. It is a desired place to live, in 2007 EAs had a waiting list of buyers so houses just didn't get advertised.

Now, there are 3 houses for sale and have been since the summer. The problem is they are all at even higher prices than the peak. IMO they all need to drop at least 20% to get back in line with the real world.

Wickedkitten

Prices here have been steadily dropping for the past 2 years. Biggest drop I've seen so far was 225k to 89k

JayZed

I think there are a lot of people who don't really need to sell, and just have their homes on the market to see if they get any bites.

I'm considering putting my place on the market this year with the intention of trading up (and hopefully benefiting overall in terms of savings on the larger house outweighing losses on my current place).

If I put it on the market now, I'd put it on at about 15% below peak price, and would probably be inclined to accept an offer around 5% below my asking price. But if I didn't get an offer that suited me, and if the properties I have my eye on aren't coming down in price, I'd probably just leave it on the market without trying hard to sell it, as I don't really need to move.