Need advice for quick sale please!!

loki13

http://www.whitehotproperty.co.uk/07,0,0,0,683382,25002,00.htm

It's on Globrix. Not looked on rightmove

Blacksheep1979

karenthemummy79 wrote: »

I cant believe people are suggesting I drop the price to £120k!!!! if I was to drop it by 17% then that would be £135k!!! To drop it to £120k would be over 25% - Surely that isnt best advice in a market that is supposedly starting to pick up?

The market isn't picking up - it's spin put around by the estate agents, summer is the best time of the year for sales and it's still not shifting, that's got to tell you something?

So it was on at £162k (and didn't get a look in probably because it was too pricey), 17.8% less than this is ~£133k. That price would put it on par with £162k 1 year ago (which wasn't shifting) so you realistically need to knock it down a touch to £128-130k.

You can go on bout how you think it's worth £xyz but if a bank or a cash buyer doesn't agree with you and the prices continue to follow the trend that 9/10 people think they will (and hey they're the ones buying) then you risk losing another 10-20%.

karenthemummy79

God I am stressed now!!

silvercar

How much is it costing you each month it isn't sold?

Mortgage payment, council tax, any utility bills, gardening...

add that up for 6-12 months and knock it off todays price. Thats the amount you can afford to drop to get a quick sale rather than hold on to it and worry.

Bermuda_John

20/09/2006£143,000Semi
18/08/2006£140,000SemiF
10/08/2006£152,500SemiF
06/07/2006£147,500SemiF
05/06/2006£125,000SemiF

This is the sales in 2006 for your street.

Guiven prices have dropped 20% since then i think you are being a ilittle over ambitious on the price...... £120,000 i more like the asking price

SouthCoast

I found this:

20 Ffordd Pentre,
Carmel,
Holywell,
Flintshire,
CH8 8SL£130,000
Semi-Detached
Freehold
Not New Build30-Mar-2007


Map (CH8 8SL)30 Ffordd Pentre,
Carmel,
Holywell,
Flintshire,
CH8 8SL£100,000
Semi-Detached
Freehold
Not New Build09-Mar-2007
Map (CH8 8SL)

poppysarah

LTV 75% or less? How much can you sell it for minimum and pay back the deposit you borrowed?

LandyAndy

Looks a nice house so if it isn't getting interest it's overpriced.

Looks like it's bullet biting time.

Sorry.

gauly

From one of your previous posts:

"The house we have now is a 3 bed semi and the one we are buying is a 4 bed detached on a big plot and fantastic views of the sea...We agreed on a price of £147500..."

"we NEED around 145k to be able to repay the deposit that we are borrowing"

If 4 bed detached are selling for £147k (albeit a repo) how can you ever get £145k for a 3 bed semi?

Bermuda_John

good point gauly.

the problem the housing market faces is the sellers wont accept their property has fallen 20% in the last 2 years.

The buyers know it and they arent prepared to meet the sellers half way, and rightly so