Asking Price vs. Valuation

wheresmydoshat

we have a budget of around 200k, only our mortgage for 200k doesn't appear to be able to get us anything better than it would have a year ago.

come september we will find out as thats when we decided to start looking again. this is also when my partner gets an important payrise which will make getting the mortgage all the more easier.

babaganoosh

When you look around Hertfordshire for houses, there really aren't many new houses on the market. The houses that haven't been sold have been on the market for months. I can only assume that they are over priced and the sellers are not willing to drop the price or accept lower offers. Some people may not want to sell at a lower price to what they bought it for a few years ago.
There are also alot of houses that have SSTC but then reappear on the market.

I have been looking for ages for a house and only found 2 I liked after a year of searching. I am not being overly fussy, it's just when you live in a town for 25 years, you know the good and the bad areas.
A mate of mine wants to buy a 1 bedroom flat and they are even harder to come by when you have a small budget.
People aren't selling unless they have to.
If you are going to put in an offer, start off low as you can always go higher. Only pay what you feel the property is worth to you.

wheresmydoshat

sorry when i say "surrounding areas" tbh we generally are only looking at tenterden itself, and our maximum is 200k.

a local EA has the monopoly on most houses, and laughably have "green shoots" stickers all over everything in the window.

i think you are right on new vendors coming onto the market being more realistic, but there are very few coming onto the market !

wheresmydoshat

looking at rightmove there are 6 properties which are 3 bedroom and under 200k, for the most part none of them are worth anywhere near the asking price.

going slightly further afield there is one property which is very nice, but has a price guide of £195k-£240k !!!!

you would have thought by now that EA's would have done away with these ridiculous price guides.

twentypenceoff

totally off subject, for some time i've been intrigued by your user name, i thought you must have a really naughty canine pet, then i just now realised, it isn't as i MISREAD it

where's my dog shat?

:rotfl:

pawpurrs

:rotfl:
Tenterden hasnt dropped that much, I have noticed that, and neither has Cranbrook, some surrounding villages they havent dropped at all wiher, mind you those that havent dropped dont seem to be selling either.
Very stubborn round those parts.

wheresmydoshat

checking websites for sales in tenterden in the last 6 months, there has only been a handful. no where near enough to help in judging what prices should be, and i can't see it changing anytime soon.

haha, yes the name ! i am aware of its unfortunate ending ! i never intended to be on the site for more than one thread regarding my S&S ISA last year. doesn't seem like u can change tho.

so i'm stuck with the dogpoop !

PasturesNew

Nobody's mentioned Property Bee... are you using Property Bee?

Without this handy (free) tool you might not even notice what's been reduced or by how much.

Using the Firefox browser, go to http://www.property-bee.com and on the left click on download.

Then go to Rightmove and as you're going through you'll see all the past prices of all properties - how long they've been for sale - what price drops have happened and when.

PasturesNew

Cranbrook, up to £200k, I'd look at this:
http://www.rightmove.co.uk/property-for-sale/property-23271665.html

Started off at £215k, down to £190k now (since 10 May).

I don't know the area at all, but from exterior looks/price alone that seems to have a lot going for it.

pawpurrs

That seems quite good value for Cranbrook, my silbought a much grubbier semi,for 210, in 2006.