Sell now or wait?

bigbumbarbie

First post so apologies if this has come up before.

I was made redundant a few months ago and need to sell my house as am unlikely to get another job so well paid but wondered if the forum thinks I'd be be best off putting it on the market now and marketing aggressively or hanging on a few months when more houses might be selling even if they are selling for a bit less.

This is not a long-term decision as waiting years for things to improve is not an option, just the difference a few months might make in sentiment, all opinions appreciated.

ad9898_3

I think we need more info, mortgage/area etc...., funny username by the way.:D

bigbumbarbie

My house is estate, Essex,several others similar on market priced between £90 and £120 thou, one bed starter home, nothing special about it except it's mine. Outstanding mortgage is about £80 thou, not a huge amount by today's standards but with no job it's too much of a liability. Does leave room to undercut the opposition though.

Got an option of moving into rented sharing with a friend in the next couple of months so it would be good to get rid quickly but the way things are looking nothing is selling and the market is dead. Might pick up in the next couple of months but all I have is a couple of months to make that decision. Of course marketing now and slashing the price might end up the same as waiting and asking for less but I thought I'd at least try to make an informed decision!

BettiePage

Do your research on sold prices (not asking prices), put it on now at a reasonable price and be prepared to negotiate.
Hanging around now means more mortgage payments whilst the property potentially loses money every month.