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

Orpheo

claire70 wrote: »

Bit of unnecessary sarcasm there, methinks? Let me guess, you're not trying to sell, are you? So are you just on this thread to annoy those of us who are?

Great guess claire, have a lolly.



I sold my house in less than six weeks in the market dearth of the summer of 2008. You want to know how? I priced it realistically and got a lot of interest, I dropped by 5K at week 2 and by another 5K at week 4. When my buyer offered, I didn't get offended and reject them, I counter-offered and they accepted. I did the right thing. House prices continued to drop and to buy the house I sold today you would pay a good 10K less than I sold it for.

TwistedPsycho

I am disappointed that people are stopping viewing until "sellers get realistic".

Realistic is not quantafiable. To me, realistic is getting an offer that will allow me to get off the ladder because my financial status means I will not be able to transfer or get a new mortgage in what is a more expensive area I am moving to; is that really so much to ask?

kr15snw

Just finishing off the house so we can come join this thread! We're desperate for a quick sale as we're buying via a private sale and we're getting a major bargain on the house, IF we can buy quickly (the vendor doesn't want to hang around and needs the cash).

Just got to finish the front room off this weekend (it hadn't been decorated in 12 years and was uuuuuugly, so got hubby to redecorate it this week) then scrub the house senseless

Getting excited now, plus worried about how it might not sell!

brit1234

TwistedPsycho wrote: »

I am disappointed that people are stopping viewing until "sellers get realistic".

Realistic is not quantafiable. To me, realistic is getting an offer that will allow me to get off the ladder because my financial status means I will not be able to transfer or get a new mortgage in what is a more expensive area I am moving to; is that really so much to ask?

Yes it is, realistic is a seller pricing at a range that the banks will lend at (3-4 x salary) with a deposit. You want more than that then sit on the market and hope banks return to irresponsible lending.

I'm happy to wait till interest rates start going up and sellers are forced to get more realistic. Hence the first time buyers strike. Sellers have to realise that wages are being frozen with rampant inflation taking a large chunk of wages. Buyers can't afford the sellers dream price.

anderson8

anderson8 wrote: »

weve been on the market for 7 weeks now.
weve only had one viewing and that came from our open weekend.
they really liked our house but as the gentleman walked with a stick, they found the bathroom too small for him.
were priced £11,000 under the home report value of £130,00.
were moving due to a new arrival expected in July, however the house is big enough if the baby shares with us for the first 18 months or so.
we would probably accept £115,000 so should we look at reducing our price, or just leave it for a few more months?

Anyone? i know the spring market should be the best time to sell and dont want to miss that by sitting not reducing our price

Thefunkygibbons

Right, marketing starts tomorrow

Turns out that the house is not worth as much as I thought, but so be it. I am fortunate to be mortage free and we are downsizing, so I am prepared to accept whatever the market believes it is worth

Still need to do a little touching up, but the main niggles with dripping taps and blown double glazing units have already been addressed

InkZ

anderson8 wrote: »

Anyone? i know the spring market should be the best time to sell and dont want to miss that by sitting not reducing our price

depends how quick you want to move and how much money you need to do what you want to do with your life.

I wanted to get out of my flat, I left it at asking for first 6 months then reduced it bit by bit with no effect then dumped the price and it went within two weeks. I can afford to do this although it does now mean I will have to stay with family for a couple of months to save the money back, but at least I am free.

anderson8

InkZ wrote: »

depends how quick you want to move and how much money you need to do what you want to do with your life.

I wanted to get out of my flat, I left it at asking for first 6 months then reduced it bit by bit with no effect then dumped the price and it went within two weeks. I can afford to do this although it does now mean I will have to stay with family for a couple of months to save the money back, but at least I am free.

we can stay here for another two years i would imagine, but would mean a baby sharing with us.
think well stick at the price were at for a wee while and then think about reducing if we have to later this year.

tyllwyd

anderson8 wrote: »

we can stay here for another two years i would imagine, but would mean a baby sharing with us.
think well stick at the price were at for a wee while and then think about reducing if we have to later this year.

It's really difficult for us to advise you because we don't have the local knowledge of the area and your property to see if the price looks right and if other similar properties are selling.

Seven weeks with only one viewing doesn't sound great - what is the EA telling you, are they advising you to drop the price or to hang on? But if you need £115K to be able to afford to move on, if you are marketing at £119K then offers would probably come in at a bit below closer to the £115K, so by dropping to £115 you are taking a risk that you won't get the asking price and the figures won't add up for you.

Personally, I'd be inclined to hang on a bit longer, I think.

harz99

An open message to all newbies and not so newbies on this thread - please ignore the likes of Orpheo and Brit1234 et al, they are only posting to stir up a response, and they hate it if we ignore them!

Anderson8; you may like to try amending your price to a fixed price of £115k for four weeks only, at the same time giving your EA notice, and see what happens.

We went through 5 weeks of no viewings or interest; with other similar houses having stood unsold for up to 6 months and us wanting to move, we dropped down to a fixed price £13k lower as above and we had a viewing within the week. Sale now proceeding.

Worth a try!!