To those selling in these difficult times Part Deux. AKA sellers support network!

tawse57

Malystryx wrote: »

It was surveyed by an independent RICS surveyor. EA said we should put in on for offers over £90k but we went with £85k. Flats in our area are going for £80k+ for a 1 bed and over £95k for a 2 bed. Ours is a 2 bed so we went lower than survey value hoping for a quick sale. It's obviously not working at the mo.

Sorry to hear that. RICS' surveyors have legal reprecussions if they over or under-value a house.

Estate agents have no legal come-back, pretty digusting really, and the entire UK housing market is more or less run by them, they can pick figures out of the air and there is no legal come-back on them.

not_loaded

tyllwyd wrote: »

A week without a viewing is not that unusual at the moment - I started a poll to try to find out about viewings in May, and out of 18 people, 6 didn't have any viewings in the whole month.

I contributed to your poll. The problem I feel is the quality of the viewers, ie: are they serious buyers or tyre kickers? It’s hard to tell, and you don’t want your EA to vet them to the point of no viewings.

We’ve seen unproceedables and proceedables alike. Pretty much no restrictions.

tyllwyd

not_loaded wrote: »

I contributed to your poll. The problem I feel is the quality of the viewers, ie: are they serious buyers or tyre kickers? It’s hard to tell, and you don’t want your EA to vet them to the point of no viewings.

Well, our one sad viewer was a complete waste of time - the feedback we had was that our house was lovely but too far from town - which wouldn't be so bad (apart from the fact that they knew exactly where it was when they booked the viewing) except that our house isn't far from town, its only 15 minutes walk to the shops and there are very few houses in this town that are any closer. So they are down as a tyre-kicker as far as we are concerned.

I agree it isn't easy to distinguish between timewasters & serious buyers, but I guess if the market is this slow, the serious buyers melt away but the timewasters are still busy merrily wasting time!

Squish_21

Jen2girls wrote: »

My house has been on the market for over a week and still not a single viewing booked. Is this acceptable do you think? The last time I sold was during the boom so its obviously a completely different ball game now. Hope everyone gets some viewings and offers this weekend X x x

Mine has been on a week too. No viewings or intrest as yet. I know its going to take a long time to sell in this market, so trying to just sit back and wait. Not easy though.

Squish_21

Does your EA provide you with Rightmove stats? If so, how often?
Also, do you only hear from your EA when they have a viewing i.e no updates in between?

holly14th

tyllwyd wrote: »

A week without a viewing is not that unusual at the moment - I started a poll to try to find out about viewings in May, and out of 18 people, 6 didn't have any viewings in the whole month.

make that 6 months in our case :mad:

tawse57

holly14th wrote: »

make that 6 months in our case :mad:

Why do you think this is? Is it possible that it is over-priced - I dare I say it, considerably over-priced?

Not having a go at you but estate agents seem to be vastly over-pricing houses' asking prices in order to get the work. Also, if Vendor A wants to buy Vendor B's house, and Vendor B's house has already been over-priced, then Vendor A will want their own price to be over-priced as well in order to buy the house they want.

Alas, that means somewhere down the chain there is someone who refuses to pay for an over-inflated property, or simply cannot afford to buy a house for 8, 9 or 10 times joint salary, and the whole chain falls apart.

At the top and in the middle are loads of people sitting there in their vastly over-priced houses that estate agents have told them are worht such and such... but they are never going to sell at anywhere near those prices?

I am not having a go at you personally but simply generalising about the possibility that the market is over-priced in the UK, that those at the bottom of the ladder - awful term - are priced out or refusing to get themselves in huge debt and so the whole thing is a house of cards, no pun, waiting to collapse?

House prices have fallen by 50 percent in Eire, the States and Spain in the past 18 months and I do wonder why we think the UK is different. That is my worry.

holly14th

tawse57 wrote: »

Why do you think this is? Is it possible that it is over-priced - I dare I say it, considerably over-priced?

Not having a go at you but estate agents seem to be vastly over-pricing houses' asking prices in order to get the work. Also, if Vendor A wants to buy Vendor B's house, and Vendor B's house has already been over-priced, then Vendor A will want their own price to be over-priced as well in order to buy the house they want.

Alas, that means somewhere down the chain there is someone who refuses to pay for an over-inflated property, or simply cannot afford to buy a house for 8, 9 or 10 times joint salary, and the whole chain falls apart.

At the top and in the middle are loads of people sitting there in their vastly over-priced houses that estate agents have told them are worht such and such... but they are never going to sell at anywhere near those prices?

I am not having a go at you personally but simply generalising about the possibility that the market is over-priced in the UK, that those at the bottom of the ladder - awful term - are priced out or refusing to get themselves in huge debt and so the whole thing is a house of cards, no pun, waiting to collapse?

House prices have fallen by 50 percent in Eire, the States and Spain in the past 18 months and I do wonder why we think the UK is different. That is my worry.

i know what you saying we got 5 AE valuations, 1 £20,000 more than other4 so we pick one of the 4

Trollfever

Take heart : Part Three.

From Property-Bee:

History



dateevent14 May 2010

• Brief Description changed: An opportunity to acquire Fox & Sons are pleased to offer for sale by Auction on 23rd June 2010 a one bedroom bedroom, two reception room flat apartment situated in this city centre location within minutes walk to Brighton mainline railway close to Brighton station. Within minutes walk to Brighton seafront and a wealth of shopping and recreational facilities. Guide Price £125-£130,000.
• Price changed: from '£169,950' to 'Guide Price £125,000'

30 April 2010

• Price changed: from '£174,950' to '£169,950'

21 April 2010

• Price changed: from '£179,950' to '£174,950'

14 April 2010

• Price changed: from '£189,950' to '£179,950'

06 April 2010

• Status changed: from 'Available' to 'Premium Listing'

31 March 2010

• Initial entry found.

not_loaded

tawse57 wrote: »

Why do you think this is? Is it possible that it is over-priced - I dare I say it, considerably over-priced?
Not having a go at you but estate agents seem to be vastly over-pricing houses' asking prices in order to…
…I am not having a go at you personally but simply generalising about the possibility that the market is over-priced in the UK, that those at the bottom of the ladder - awful term - are priced out or refusing to get themselves in huge debt and so the whole thing is a house of cards, no pun, waiting to collapse?
House prices have fallen by 50 percent in Eire, the States and Spain in the past 18 months and I do wonder why we think the UK is different. That is my worry.

Overall you shouldn’t take the estate agents’ prices as gospel. In addition to talking to them, before pitching your price you should research the market with for example, nethouseprices website.

You need to know what SOLD prices are for your neighbourhood, NOT asking prices.

Then you need to consider whether you’re in a hurry to sell or can take your time, and price it accordingly. A lot of agents won’t have this discussion with you. Their aim is to get you to sign up with them for X weeks at Y%. Only later will they talk reductions when you’re safely in their net.

The high original price (and stupidly optimistic talk of getting it) is to get you to sign up.

I do wonder why we think the UK is different

The UK is different in that housing stocks have always been low. It’s down to the law of supply and demand.

Spain, for example, built like crazy, then carried on building still. The States, similar. The end result even without the bank crash is that people wanting to sell have way too much competition to get a ‘good’ price. Add the bank crash, and you’re going nowhere slooowwlly.