I need to sell!!

thegrimreaper

Catblue wrote: »

It is probably the price unfortunately.

Your house was initially at £255K, but you know that it would never have sold at that in the first place. Nobody pays £255K for a house when the stamp duty threshold is £250K.

Sorry to jump on someone elses thread with an unrelated question but i thought stamp duty threshold was 175k, i know im probably missing something like multiple brackets but i thought there was just the one rate!! shows how much i know!

ln1234

thegrimreaper wrote: »

Sorry to jump on someone elses thread with an unrelated question but i thought stamp duty threshold was 175k, i know im probably missing something like multiple brackets but i thought there was just the one rate!! shows how much i know!

175k-250k 1%
250k-500k 3%
500k+ 4%

Catblue

thegrimreaper wrote: »

Sorry to jump on someone elses thread with an unrelated question but i thought stamp duty threshold was 175k, i know im probably missing something like multiple brackets but i thought there was just the one rate!! shows how much i know!

No problem.

Properties with a value of between £175,001 and £250,000 have to pay 1% of the property's value in stamp duty. Note that the £175K figure is a temporary measure and may well go back down to £125K again at some point in the future.

Homes costing between £250,001 and £500,000 attract a stamp duty rate of 3%.

For homes costing in excess of £500,001 the tax is 4% of the value of the property.

toothe

house prices have dropped by more than 20% around here i would say.
example mate brought a end town house 2 years ago for 85k, next door house (identical and in same condition), its another end town is now on the market for £50k, yes its a repo but a bloody big drop (35k).
another house (one that i am buying atm)
house down the road from my mum and dads, was on market for 129k. been on for 12 months. recently sold for 100k (29k drop), other house in the street (which would be valued roughly the same 12 months ago, slightly less cus its not got as much land) is currently on the market for 80k.
but house prices coming down has been effected by the fact that nobody is working atm around here

Latest figures show 9,827 people were claiming Jobseekers Allowance in North Staffordshire in December, compared with 6,727 in January last year.
Since then hundreds more job cuts have been announced at Wedgwood, JCB and Bentley. (from an article in feb), since then any major company has either made reductions in housrs or laid people off. An 90% of the small firms have gone or going.

liz-paul

Well in my area house prices haven't dropped 20%. They've dropped a good 30-35%, mine included! And people still aren't buying at a third off peak values so who knows what they've dropped really.....
Are any house in your area selling? Cos almost none are here & I'm not sure that they would unless they were practically given away at the moment. If you are desperate you may well have to accept that you need to sell for less than others will who can wait it out.

toothe

one thing going in your favour, is your moving for work reasons (i think) and if you sell your house at a low price you will be able to pick up another house at a low price.

ukcarper

1echidna wrote: »

Land registry figures are behind the game, true, areas will vary, but it is odd how most people are convinced that they are in an area that has not dropped as much and few will admit to themselves that in their area prices have dropped more

I realise that land registry figure lag but prices have been dropping at roughly the same rate since 2007 so there wont be much difference my point is no one know where OP house is and whether the price he hopes to get is realistic and just quoting an average price drop doesn’t really mean anything.

izzybusy23

breadlinebetty wrote: »

It's all to do with LOCATION LOCATION LOCATION I'm afraid. Your area sounds like it's one of the less desirable areas I'm afraid. A 4-bed detached going for £250 must be in a very poor area and that's why you have no offers. All you can do is ask a price that reflects the area. Terraced houses going or £150K must are unheard of round my way, you wouldn't get a flat for that. You need to market your property at a price that reflects the area.

How snobby a remark is that!!!! I live near Cheltenham which is on the edge of the cotswolds and 4 bed detached houses can go for anything from £200k... hardly a undesirable area... I think your post is very prententious and doesn actually contribute much towards the OP's question.

OP: you need to reduce the price drastically to get the buyers through the door... look at similar houses and undercut them by 10%.

Edited for the benefit of snobby betty:

http://www.rightmove.co.uk/property-for-sale/property-22660673.html?locationIdentifier=REGION%5E308&sortByPriceDescending=false&minBedrooms=4&displayPropertyType=houses&radius=1.0&secondaryDisplayPropertyType=detachedshouses&oldDisplayPropertyType=houses&oldSecondaryDisplayPropertyType=detachedshouses&pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E308%26sortByPriceDescending%3Dfalse%26minBedrooms%3D4%26displayPropertyType%3Dhouses%26radius%3D1.0%26secondaryDisplayPropertyType%3Ddetachedshouses%26oldDisplayPropertyType%3Dhouses%26oldSecondaryDisplayPropertyType%3Ddetachedshouses

http://www.rightmove.co.uk/property-for-sale/property-15601135.html?locationIdentifier=REGION%5E308&sortByPriceDescending=false&minBedrooms=4&displayPropertyType=houses&secondaryDisplayPropertyType=detachedshouses&oldDisplayPropertyType=houses&oldSecondaryDisplayPropertyType=detachedshouses&pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E308%26sortByPriceDescending%3Dfalse%26minBedrooms%3D4%26displayPropertyType%3Dhouses%26secondaryDisplayPropertyType%3Ddetachedshouses%26oldDisplayPropertyType%3Dhouses

http://www.rightmove.co.uk/property-for-sale/property-21952009.html?locationIdentifier=REGION%5E308&sortByPriceDescending=false&minBedrooms=4&displayPropertyType=houses&secondaryDisplayPropertyType=detachedshouses&oldDisplayPropertyType=houses&oldSecondaryDisplayPropertyType=detachedshouses&pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E308%26sortByPriceDescending%3Dfalse%26minBedrooms%3D4%26displayPropertyType%3Dhouses%26secondaryDisplayPropertyType%3Ddetachedshouses%26oldDisplayPropertyType%3Dhouses

http://www.rightmove.co.uk/property-for-sale/property-24490268.html?locationIdentifier=REGION%5E308&sortByPriceDescending=false&minBedrooms=4&displayPropertyType=houses&secondaryDisplayPropertyType=detachedshouses&oldDisplayPropertyType=houses&oldSecondaryDisplayPropertyType=detachedshouses&pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E308%26sortByPriceDescending%3Dfalse%26minBedrooms%3D4%26displayPropertyType%3Dhouses%26secondaryDisplayPropertyType%3Ddetachedshouses%26oldDisplayPropertyType%3Dhouses