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

BARGAINMAD101

Well have been a lurker on here for a while now but have now gone on the market ourselves as of yesterday!!!! So the waiting and trying to keep the house tidy constantly with 2 kids in tow begins!! :j

claire70

BARGAINMAD101 wrote: »

Well have been a lurker on here for a while now but have now gone on the market ourselves as of yesterday!!!! So the waiting and trying to keep the house tidy constantly with 2 kids in tow begins!! :j

Keeping the house tidy is one of the worst bits!

Jimmy_31

claire70 wrote: »

Well, good news: we got an offer today (our 3rd). Bad news: it was 35k below our asking price. That's *55* k below our initial asking price. We said we were prepared to go down a little on our current asking price, but not by that much. Result: they withdrew their offer altogether. Not even prepared to go up by a penny. Grrrrrrrr.

These people are insane. A house very similar to ours sold in Jan for 10k MORE than our asking price. So how do these buyers think they are making a reasonable offer?

I wonder if they also made the same offer on somewhere else, that had a lower asking price to start with and which therefore accepted.

Oh well, back to square one.

The person who made you the offer has probably done his research before making any offers on property so is offering you what they think is a fair price, The person who made you the offer is probably just factoring the potential price drops that are coming for many houses so they dont want to throw money away.

The seller who sold a house similar to yours for 10k above your asking price just got lucky by finding a buyer who was willing to pay that price in a falling market.

More and more people are now becoming aware of the falling market and once the media start running stories on a daily basis about house price falls instead of the odd news story then things are going to get a whole lot worse for (some) sellers.

It works both ways you see, remember the constant media barrage about house price increases well thats possibly going to happen in the coming months but this time its all going to be about the price decrease. Alot of people i know who purchased homes during the boom did so due to the fear of being priced out forever (because thats what the media said would happen) so when the media starts saying house prices are dropping again and again then who is going to pay anybodys asking price?, You only have to look at the housing situation in ireland to see that 30 to 50 percent price reductions are a very real possibility. So as i see it then its good news for (some) sellers because its going to be tens of thousands of pounds cheaper for them to get on to the next rung of the housing ladder which is obviously not a bad thing is it.

claire70

Jimmy31, let me say it again: this is the seller's SUPPORT thread. If you don't want to be supportive, please go elsewhere!

Jimmy_31 wrote: »

The person who made you the offer has probably done his research before making any offers on property so is offering you what they think is a fair price, The person who made you the offer is probably just factoring the potential price drops that are coming for many houses so they dont want to throw money away.

The seller who sold a house similar to yours for 10k above your asking price just got lucky by finding a buyer who was willing to pay that price in a falling market.

On the contrary, that is just ONE example of a house near us. That house was actually on the low side compared to other houses. They have sold for MORE than 10k over us.

Our house (3 bed semi, large-ish garden, nice area) is at the same price as places which are terraces, no garden, not so nice area, etc etc. So anyone offering us that kind of offer has really NOT done their research, IMHO.

More and more people are now becoming aware of the falling market and once the media start running stories on a daily basis about house price falls instead of the odd news story then things are going to get a whole lot worse for (some) sellers. It works both ways you see, remember the constant media barrage about house price increases well thats possibly going to happen in the coming months but this time its all going to be about the price decrease. Alot of people i know who purchased homes during the boom did so due to the fear of being priced out forever (because thats what the media said would happen) so when the media starts saying house prices are dropping again and again then who is going to pay anybodys asking price?

Maybe you're reading different papers to me, but can you give me links to any of these stories (even the 'odd' ones)? People here keep talking about a falling market but where I am at least (just outside London) the market is static, not falling. (And looking at Zoopla statistics etc backs this up.) I've seen the occasional newspaper story saying prices have fallen 1%, but then another saying they've gone up 1%. So where is this falling market?

, You only have to look at the housing situation in ireland to see that 30 to 50 percent price reductions are a very real possibility.

Much as our economic situation here is screwed up, I don't think we're QUITE as screwed as Ireland yet. Our market also didn't overheat (at least outside London) to the same extent - I know because I lived there for a while.

So as i see it then its good news for (some) sellers because its going to be tens of thousands of pounds cheaper for them to get on to the next rung of the housing ladder which is obviously not a bad thing is it.

Believe me, I will be very happy if the prices where I'm buying start to come down drastically too. I just don't see that happening yet. Therefore I have to stick to my guns about my own asking price. I don't want every last penny I can get, I just want enough to be able to afford my next place without struggling.

TOBRUK

I put my house up for sale end November 2009 because of health I needed to move to a bungalow and to move near family for my care needs 100 miles away - where I grew up.

I have had quite a few viewers over the 15 months it has been up for sale and surprisingly I have had a lot more during the past 3-4 months and a couple of 2nd viewings! By now I was beginning to feel fed up of people coming and invading my space/privacy (that is how I was beginning to feel - probably getting tired of it) but 10 days ago I had an offer! The buyer is a cash buyer!!

This has been exceptionally good news at this moment in time as only 6 weeks ago I fell downstairs and ended up in hospital for over a week with fractured skull, broken finger on left hand, badly broken right wrist in many places and a big black eye to show for it! My safety was a concern for family (I live alone) aswell as health professionals! The OT I had to see before they would let me out of hospital suggested a comode for downstairs amongst other things - NOT a good look when trying to sell!!

Last weekend I booked 5 viewings 'back home' for Saturday. 3 bungalows were awful but 2 were very good, one of which was absolutely ideal! Anyway, I placed an offer day before yesterday but was turned down, yesterday morning placed my final offer and a few hours later I had a phonecall saying that they had accepted.

The property is vacant so hopefully it will be a smooth and quick process!

Well, this morning off to hospital for them to assess my broken wrist which is still extremely painful - not good! This afternoon a man is coming over to the house to make sure mortgage is sorted (I already have a portable mortgage) and figures are checked, etc to change details.

Jimmy_31

Ok Claire 70 i didnt realise it was a buyers versus sellers kind of thing so if i have to pick sides ill pick the one that saves me my hard earned cash and pop over to that thread.

Regarding the falling market, surely you cant believe that the housing market is still in good shape, The banks have been "caught" and now a lot of people who payed well over the odds for their homes are going to suffer the consequences for their own and the banks actions, i can totally understand you needing to get the right price for your home to enable you to move but somebody who offers well below the price you want or paid for your home is just being sensible with their money which is not a bad thing is it?

I will be doing exactly the same when the time comes for me to buy my first home as i will not allow a sellers expectations or needs to influence my offer in any way shape or form, if that means the price i offer cannot be accepted then so be it ill move onto the next house

WelshNic

Isn't it weird how a home owning virgin is such an expert on seller's expectations, I think I may have seen it all now :rotfl:

Jimmy_31

WelshNic wrote: »

Isn't it weird how a home owning virgin is such an expert on seller's expectations, I think I may have seen it all now :rotfl:

I cant recall saying im an expert, just blessed with common sense i suppose.

kymie

For those that dont know me, I was around at the start of the thread! We had bought our last house unfortunately at the peak in 2007, but due to family emergency decided to move back to our previous area October 2008. We had I think around 5 estate agents come out to value, all said around the same price - £155k. We wanted to move quickly so put it on at £152k Long story short eventually sold/completed in Feb 2010 for £125k, leaving us with the bare minimum for a deposit on our current house. For us, we NEEDED to sell, my husband and son were living 250miles away while I was left with the other 5 children. We had 6 total viewings the whole time. Other houses in our street were up for sale for more - and still are up for sale a year later. Its all down to each persons circumstances individually. Some people are happy to put their houses on the market and sit and wait it out. Others like me are desperate to go. Buyers will always put in cheeky offers, its what they do! Dont let it upset you. For me, a house isnt an investment, its a home where I want to be with my family. As long as we have enough for what we need, then Im happy. Yes I'd like a bigger house (moving from the north to the south meant downsizing from a 4 bed to a 3 bed - a bit of a squash with 8 of us living in it!) but we manage, and most importantly are together again! Different people have different priorities, only you know whats best for your circumstances.
I wish you all luck!!

Davesnave

Well said kymie.

We should remember that some of those with common sense and/or crystal balls have now been waiting for the 'predictable' Crash for eight years or more, though I'm not sure what 2008/9 meant to them. To us, it meant a rapid readjustment of plans & expectations. At least we got on with our lives.:D

I was around on the original thread of this name, suffered like kymie, took a similar hit and made up for it elsewhere. As kymie says, everyone finds their own solution.

To the buyers who messed us around, I can only say, 'Thanks, it was ultimately beneficial to have met you, though we didn't entirely appreciate your input at the time!'