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

azkaban420

Cazzr wrote: »

No, we will only move to rented full stop when the house sells. I'm just wondering, if we have now decided to stay in area for the academic year, is it worth still selling now or 'defer' selling till next year. I.e. continue paying a mortgage on our settled in house or go for the sell to give us the freedom of when to move (when we want to rather than when the house sells) but end up renting around here and essentially moving twice (not including if/when we buy another place in new area)..

We want to move because we want to move area (eventually) rather than 'necessarily' because we want another/bigger house...

It just seems pointless being on the market at the moment but then there is no guarrantee it will sell quickly when/if we put it on the market again next spring...

It's a really difficult decision which only you can make I'm afraid. There is nothing that will help predict what will happen to the housing market, you may be better off holding off till next spring, and equally it may end up being a mistake.

Being in a similar position to you, we decided to just drop as low as we could go on the asking price (which opened up a lower offer) which we've accepted today. My theory was that I'd rather get it over and done with now, given that it's been on the market for several months already. I don't think I could cope with taking it off the market for 6 mths/a year then starting all over again with the headache of viewings etc.

You need to work out how much you want to move now, and for what sort of price (i.e. if you dropped enough to get the right offer) or if you'd rather wait and stay put for a better market...which may or may not happen in the near future.

Good luck whatever you decide

Az

Davesnave

I agree with azkaban that predicting the housing market a year hence is tricky, but I'd say that there's nothing suggesting price increases on the horizon. Indeed, bearing in mind what has happened to prices in favoured areas since the low point of Spring 2009, it would be easy to argue that, in some places, houses are now overvalued.

I think the above is why so many of you are feeling miffed at the offers you're receiving. Look at it from the buyers POV and there is a real and perceived risk of paying too much. In many ways, it's similar to the Crash era of 2008, but now it's the government spreading fears of doom & gloom!

We were involved in the 2008 crash. To get sold, we took £50k off our price, sold, and then went into rented, enabling our daughter to finish college. Like you, we intended to move into rented again in a completely new area, so we kept loads of our stuff in boxes, ready. However, something special came up near the end of our first rental, so here we are in Devon, 200 miles from where we originally intended!

Renting twice, as you're now considering, might be a pain, but it's a way of avoiding mistakes, which could end eventually in buying (and selling!) twice. We would have done it, for sure. The reason we purchased straight away, besides the 'bargain' aspect, is that this part of Devon's not new to us.

It's also worth reflecting that, the rent-twice option to change areas is a comparatively recent one, born out of this market, because in the 'old days,' stepping off the housing ladder for a year or so would have been financially most unwise!

Best of luck, whatever you eventually decide.

Cazzr

Thanks guys. I guess I have mixed emotions about moving, more related to the disruption involved especially with a young child just about to start school.. I'm not tremendously worried about prices going up...

I hear what you are both saying about house price and will revisit this I think with the estate agent, especially having just read an email from rightmove pointing out that the house accross the way from us has dropped it's price again by another 4-5 grand... making it 7 less than ours (ours is better but maybe not 7g better).

Update: Spoken to EA, where our house was on the front page of property pages with lower price they've had quite a bit of enquiry. I've made it clear I am keen to negotiate on price if they are in a position to move quickly and asked her to mention this to enquirers.
Think we'll leave it on the market for now and see what happens.

WheelieWood

not_loaded wrote: »

I had to do this with my mum’s flat in Torbay, which had been marketed before. Without exception, they all turned up with RightMove printouts showing it and other local properties. Then they all ‘estimated’ at the previous asking price.

On my notepad I scored them out of ten for overall ‘effect’, and also noted down any differences like the percentage, the fee basis etc, so I could remember one from the other.

I've already listed out all the questions I want to ask them and will probably print them out like a survey form to fill in as each agent visits

not_loaded wrote: »

It’ll be interesting to see what they say about your current agent. I personally do not like to hear back-biting snide comments. Polite mention of ‘why they are better’ is more like it!

We've already decided we don't want to whinge about the current EA. We'll simply state what the issues were and see how the other EAs respond.

azkaban420

WheelieWood wrote: »

I've already listed out all the questions I want to ask them and will probably print them out like a survey form to fill in as each agent visits


We've already decided we don't want to whinge about the current EA. We'll simply state what the issues were and see how the other EAs respond.

Good luck with finding the right/better agent

Az

azkaban420

Cazzr wrote: »

Thanks guys. I guess I have mixed emotions about moving, more related to the disruption involved especially with a young child just about to start school.. I'm not tremendously worried about prices going up...

I hear what you are both saying about house price and will revisit this I think with the estate agent, especially having just read an email from rightmove pointing out that the house accross the way from us has dropped it's price again by another 4-5 grand... making it 7 less than ours (ours is better but maybe not 7g better).

Update: Spoken to EA, where our house was on the front page of property pages with lower price they've had quite a bit of enquiry. I've made it clear I am keen to negotiate on price if they are in a position to move quickly and asked her to mention this to enquirers.
Think we'll leave it on the market for now and see what happens.

Ooh good luck, I hope the lower price and good advertising generates enough interest for the right buyer to snap up your property

Az

ncsmummy

Well photos are taken, we are having the EPC done tomorrow morning - just got to wait for the EA to send our property details for us to approve!! Oh well onto the rollercoaster we climb!!!

azkaban420

Good luck ncsmummy, let the fun begin!

Az

Blodwen

ncsmummy wrote: »

Well photos are taken, we are having the EPC done tomorrow morning - just got to wait for the EA to send our property details for us to approve!! Oh well onto the rollercoaster we climb!!!

Good Luck ncsmummy, I'm pretty much at the same point as you. Feeling nervous even though nothing is really happening! I asked my EA to give me the details to approve BEFORE it goes into the public domain but not sure he really got that I'm quite particular about what I want in it, and don't think they'll include a lot of stuff that I think should be in it as other descriptions I've seen by them have been quite minimal (they seem good in every other way, hopefully anyway!). Oh the stress and it hasn't even started!!

Cazzr

azkaban420 wrote: »

Ooh good luck, I hope the lower price and good advertising generates enough interest for the right buyer to snap up your property

Az

Thanks, here's hoping your sale goes through without hitch too!