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

angela_k_2

hi all,

thanks for all your advice, I've looked on zoopla.com (or .co.uk I forget which) and had a drive around last night to take a look at whats sold. The problem is that very little has sold, the last house that sold near me was 1 bedroom less and in January, so I can't figure out a price from that.

I phoned two more agents today (there are really only three agents in this area) and told them the price I have it up for AND that I'd been advised to drop the price down another 20k. I thought they would fight to get me on their books, but one said that 375 was "worth a try" and the other one said he could put it on his books at 395 but he hasn't got anyone lined up for it. Not exactly encouraging stuff.
Both said the market was b#ggered and should pick up a bit before october - but then if we haven't had offers by october then we are unlikely to get any until january.

My husband is panicing (is that how you spell it!?) that the market is going to tumble and wants to sell at any price (well, not any price, but certainly he's willing to drop even more than the agent has suggested).

Someone here suggested going in to rented but we have two kids and I don't like the idea of renting.

We need to sell and move by next summer for school - we can do a school run, but the timing will make it really hard.

I've read so many conflicting reports in the papers I don't know what to do. One day they say that prices are going down for 10 years and it's all doom doom doom, then they say property is making 90 pounds a day.

Which is it? they can't be going up and down at the same time, but looking at this blog surely we need more buyers to get things moving, where are they going to come from?

I'm getting so down about all this, aaaaggggh.

I guess nobody can tell me what to do - well some have! Listen to your husband - says one, sell and rent, or stick it out and it will be OK. I'm not renting thats for sure!

If my husband is right and the prices of houses tumble down and down then I'm never ever going to live it down.

I'm buying a lotto ticket this week I think

good luck everyone,

Ang.

NEH

sonastin wrote: »

So vendors have to halve their prices because you can't be bothered to double your deposit?

I wonder if these "sellers must drop their prices so that we can afford to buy" crowd are aware of their hypocrisy. Apparently vendors must put themselves into a position where they can't afford to buy a house and have to rent, so that buyers can afford to buy a house because they don't want to rent. Not sure how that works :think:

I suppose I ought to be retiring from this thread now, as I've finally had confirmation that my house did complete last month :jbut as long as these unhelpful buyers are gatecrashing, I think I might stick around and offer support where I can :grouphug:

Yay! :j:j

Congratulations!

and thanks for the offer of support, i know these buyer bashers are putting people off from getting support....:(

So do you have a date for moving....?

Angela sorry to hear that, the only other way you can do this is to 3 valuations from EA's and then go with the middle one or average...

Well 4 days to go and then no more mould, damp, flies or any other wildlife...:j:j:j

Feels strange as nothing is packed except for bedding and towels and removal company have confirmed that they'll do everything....

sonastin

I am currently in limbo and have no idea what's going to happen next. Moved in with my mum 2.5 weeks ago as there are problems with the house I want to buy. Currently time-sharing a bedroom with my 18-month old niece - I get it overnight and her cot is in there for when my mum is baby-sitting during the day. Having to keep my room baby-proofed and having a baby monitor (microphone end!) beside my bed is a little bit disconcerting!

I have no idea when I'll find out about the house I want to buy. At the moment, the vendors are getting prices for the work that needs doing, and I'm going up there with my builder on Wednesday to get my own price. I don't know if a) the vendors will be getting the work done or if they are just going to reduce the price, b) if they reduce the price, whether or not my mortgage lender will still be prepared to lend given the work that needs doing or c), if the lenders will still lend but keep a retention, whether I will be able to afford to do the work. So until then, I'll be keeping an eye on the market for other properties coming up (or reducing into my price bracket, as obviously that is what I need all you sellers to be doing now!) just in case!

Definitely jealous if you are getting all you stuff packed (although I know you have good reason in your situation)! I know that it is just an extravagance for me (as my only disablility is chronic laziness ) but next time I move I am definitely factoring a full pack & move service into my budget. Well not next time - that'll be out of my mum's and no removal company would be able to identify what they are supposed to be moving, and I doubt many would do the rounds of grandparents', siblings', parent's and storage units to pick up all my belongings that I've strewn around the area :rotfl: But definitely if I'm ever stupid enough to think selling up and moving is a good idea.

Hope the new place works out and you don't get shifted along again until you are ready to make the next move...

NEH

sonastin wrote: »

I am currently in limbo and have no idea what's going to happen next. Moved in with my mum 2.5 weeks ago as there are problems with the house I want to buy. Currently time-sharing a bedroom with my 18-month old niece - I get it overnight and her cot is in there for when my mum is baby-sitting during the day. Having to keep my room baby-proofed and having a baby monitor (microphone end!) beside my bed is a little bit disconcerting!

I have no idea when I'll find out about the house I want to buy. At the moment, the vendors are getting prices for the work that needs doing, and I'm going up there with my builder on Wednesday to get my own price. I don't know if a) the vendors will be getting the work done or if they are just going to reduce the price, b) if they reduce the price, whether or not my mortgage lender will still be prepared to lend given the work that needs doing or c), if the lenders will still lend but keep a retention, whether I will be able to afford to do the work. So until then, I'll be keeping an eye on the market for other properties coming up (or reducing into my price bracket, as obviously that is what I need all you sellers to be doing now!) just in case!

Definitely jealous if you are getting all you stuff packed (although I know you have good reason in your situation)! I know that it is just an extravagance for me (as my only disablility is chronic laziness ) but next time I move I am definitely factoring a full pack & move service into my budget. Well not next time - that'll be out of my mum's and no removal company would be able to identify what they are supposed to be moving, and I doubt many would do the rounds of grandparents', siblings', parent's and storage units to pick up all my belongings that I've strewn around the area :rotfl: But definitely if I'm ever stupid enough to think selling up and moving is a good idea.

Hope the new place works out and you don't get shifted along again until you are ready to make the next move...

Well when we moved last year it was a bit like you will be. We had stuff in our flat, stuff in my self storage unit, a loan sofa 17 odd miles further north and furniture 300 odd miles away at my mum's, same reason we couldn't use a removal company. Needless to say it took a over a week to move and i can't describe how bad it was, i would say a living hell but given the drunk situation we have had to put up with this last year i know ther eis worst than a living hell....I didn't want to see tarmac again never mind a cardboard box....We sat on the sofa at the end of it all and looked at each other and said i don't care if we have to starve or eat baked beans for months, never again, removal company all the way next time...:rotfl:

Even if i hadn't been so ill this time i would have insisted especially as hubby has done his vanishing act again for this move like last year, its uncanny how business always takes him away at moving time....:rotfl:


I hope you get some clarification soon, sometimes the not knowing is the hardest part as you don't know how to proceed or make concrete plans as to how to fix the problem or if it can't be fixed then you'd like to know you can move on.....

RedTomato

angela_k wrote: »

hi all,



I've read so many conflicting reports in the papers I don't know what to do. One day they say that prices are going down for 10 years and it's all doom doom doom, then they say property is making 90 pounds a day.

Which is it? they can't be going up and down at the same time, but looking at this blog surely we need more buyers to get things moving, where are they going to come from?



good luck everyone,

Ang.

Well, they have been going down in some parts of the country and up in others - hence the media tending to pick whichever figure suits for the direction they want to take the story. For instance, North West down 0.7%, London up 1.6% in last report.

If you go to the land registry http://www.landregistry.gov.uk/ and click on latest statistical release you will see the figures divided by regions - these are for recent completions so sales probably agreed Spring time.

Why is your husband terrified that prices will drop? As you are looking to go to a more expensive area, a drop would help you, you'd get less for your place but the place you move to would be less too. Unless he is worried that a drop leaves you with no equity and hence no chance for a new mortgage?

brit1234

RedTomato wrote: »

Well, they have been going down in some parts of the country and up in others - hence the media tending to pick whichever figure suits for the direction they want to take the story. For instance, North West down 0.7%, London up 1.6% in last report.

If you go to the land registry http://www.landregistry.gov.uk/ and click on latest statistical release you will see the figures divided by regions - these are for recent completions so sales probably agreed Spring time.

I think you will find that land registry figures reflect the market 5-6 months ago. They are also expected to be down this month. All the current data shows London down the last couple of months and even foreign buyers are drying up.

Running_On_Empty

brit1234 wrote: »

I think you will find that land registry figures reflect the market 5-6 months ago. They are also expected to be down this month. All the current data shows London down the last couple of months and even foreign buyers are drying up.

I don't think you got the message, did you?
Well, here it is again:
No-one here will engage with you in your assertions and your desperate hope to talk the market down.
Don't bother replying in your bid to have the last word.
No-one here is remotely interested in your views of the world.
Go away.
Got it?

salousunrise

Hi, I'm in need of some tips please!

We need to sell a house in need of modernisation with a small bit of land with it. Next door is a business who wants the property and land real bad. We have yet to have the house valued as we are only just starting the process so its not listed with any agents or anything yet, but next door want to come asap to discuss.

My husband is of the opinion we should see them asap but I think we should get the valuation done first, what do you think? Also, should I still get several valuations done?

There are advantages to skipping estate agents which selling to these people would mean but I am nervous about entering into negotiations with business types who may railroad us into something. Any advice on how to hold our own would be great!

Thanks

Davesnave

salousunrise wrote: »

Hi, I'm in need of some tips please!

We need to sell a house in need of modernisation with a small bit of land with it. Next door is a business who wants the property and land real bad. We have yet to have the house valued as we are only just starting the process so its not listed with any agents or anything yet, but next door want to come asap to discuss.

My husband is of the opinion we should see them asap but I think we should get the valuation done first, what do you think? Also, should I still get several valuations done?

There are advantages to skipping estate agents which selling to these people would mean but I am nervous about entering into negotiations with business types who may railroad us into something. Any advice on how to hold our own would be great!

Thanks

You are in a strong position if they want the land. The chances are that outsiders looking for a house, plain & simple, won't 'see' the added value of the land; that's what we found in a similar situation. It is important to get at least 3 valuations and a couple from commercial agencies too, since a businesss use is possibly involved. I'd get those before speaking to the business next door.

It seems that you have two options: selling the house & land together, or splitting to create two sales, depending upon what your neighbour really wants from the site. In any event, do not enter into direct negotiations unless you are very brave, but get a solicitor or agent to act for you and make them earn their fee.

Being creative, we split our house and some land in order to get the house priced as low as possible in autumn 2008. At least four people want that land, which we still hold, but it suits us to hang onto it a bit longer, though not long enough to attract Capital Gains Tax!;)

Good luck.

PS This question is well worth asking in its own thread. I am no expert and there will be lots I haven't thought of!

rosered100

brit1234 wrote: »

I think you will find that land registry figures reflect the market 5-6 months ago. They are also expected to be down this month. All the current data shows London down the last couple of months and even foreign buyers are drying up.

Land Registry figures are for July 2010 completions, so as up to date as you can get. London prices did not drop last month (up 1.6% on the month, 12.1% pa) - it was the rate of increase that dropped.
You should check your facts before scare-mongering. As has been said before - this is the support thread.