Anyone decided to Pull their house off the Market?

Gwhiz

Just looked at the link - what a small world. I lived in Prestwood for the first 18 years of my life and my parents still do. One of my best mates at school lived in your block!!!

Nothing to add except best of luck!

Trollfever

A very wide range of actual sale prices.

http://www.nethouseprices.com/index.php?con=sold_prices_street_detail&street=HONOR+ROAD&locality=PRESTWOOD&town=GREAT+MISSENDEN&cCode=EW&year=All&house_style=All&house_age=All&search_radius=&outcode=HP16&incode=0NJ

ginandtonic1988

lypsey wrote: »

Sorry to hear your loss

To be quite honest there is only ONE reason you cannot sell ..... its because the price is too high. The market has fallen 20% over the last year or so.

Why not just reduce the price and get rid of your "headache"

Sorry to be blunt

I've had a look at the nethouseprices.com and houseprices.com and I would say average house prices are at 2005 levels at the moment. I think your price is too high. Could you drop the price a bit at least this would sell the property and give you some closure?

Good luck in the future what ever you decide.

dopester

Here is a tale from one woman (wanting to sell so as to emigrate to Aus) who thought "taking it off the market" would somehow protect it's value. People who do that.. I think the insides of their heads must be packed-full of lard.

Other people still choose to sell, transactions still continue, and sellers when they are at lower prices, they drag down value of all other homes in an area.

Good luck to you if you really believe that flat is going to have eager people who want and have the ability to pay £167K in 6 months time after you take it off the market.

I guess we can now officially regard ourselves (again) as Whinging Pom House Sellers.... our house is back on the market again (we took it off last summer once the "credit crunch" had basically slowed things down to a standstill in our area).

We had the new valuation done on Saturday - which was 16% less than what we had it up for sale for last year...but i believe that kind of drop is average?

Can i ask anyone who has been lucky to receive an offer recently - are people making "sensible" offers or are they offering way below the asking prices even though prices have come down so much already? Not sure what kind of reply i'm expecting there - but probably not the kind i'll get!

Literally as the credit crunch arrived! It's very sickening knowing if i hadn't made that decision to wait - then we would have had a lot more money available to us... The current drop has knocked £32,500 off the value of our house compared to the valuation we had last year. Obviously, that figure will no doubt increase as we know its likely people would knock more off...

We'd dropped over £30,000 - and are now wondering whether we should ring the agent and see if the guy that offered a further £15,000 under our asking price is still interested... Not sure what to do...:)

It's unfortunate that when we finally decided to go for it - the credit crunch struck and we perhaps took the house off the market when we shouldnt have.
But i know it's been said many times on this thread before - hindsight is a wonderful thing.

eco-friendly_2

Bootski wrote: »

Regardless of my circumstances, Has anyone decided to pull their house off the market for a while and try again later???

Thousands are in the same position as yourself, price it right for the current market, or you will become another reluctant landlord.

brit1234

You just have to price it lower and the roof done. Prices are most likely to continue falling again shortly as we go into the double dip. Fiance is getting harder and the pool of cash buyers is limited and drying up. Aim to sell ASAP before people realise prices have started to fall agin, its already indicated in the auction rooms at the moment.

getmore4less

With a probate property you have to be clear what is wanted.

If none of those with an interest want it then sell it.

Put it to auction if you have to.

If you want to try for a better price down the line then YOU have to buy it now and give the others their share NOW or agree that it could be a big mistake if prices drop, if they do what next?


AIH Prestwood is a bit out the way in one of the most expensive areas(south/mid bucks) so this sort of property is a bit duff, with little local employment and you need a car to get anywhere and most of those places are not any better

I think(but have not checked) renting will be hard as well.

Commuters buy houses.

Who do you think would be interested in this place?

mydinero

Bootski wrote: »

for the time being, maybe til next Spring?

Unfortunately, if you wait until next spring you'll have to sell it for a much, much lower price than what you would get if you dropped the price today. But even dropping the price today is no guarantee you'll sell it.

As mentioned in a previous post, there are a lot of sellers going through the same thing you're going through but you mentioned that the house is mortgage free. That's a big plus because it takes the pressure off having a mortgage that's more than the value of the property. Most others trying to sell right now have mortgages so you do not have the stress of foreclosure.

What's happening is called deflation and practically all prospective buyers are sitting on the sidelines either because a. they don't have the money and can not get lending (due to bank's liquidity problems) or b. if they do have the money they know that prices will continue to drop and will wait.

Deflation will continue to run its course for a while, even past 'til next Spring?' So if you are considering waiting until then you might as well consider holding and waiting for a very, very long time. ["Real estate is not going to become the focus of intense speculation for years, if not decades, to come." (From Elliott Wave Theorist, Sep 2009).]

Additionally, because it is mortgage free, if I were you I would a. rent (but it appears, from an earlier post, that is also difficult) or b. hold and wait while working on an Internet based business to generate more cash (which is very probable- there are many people doing it today) to buy your brother out.

During these hard times, and during what's coming, the best approach is to not have any debt, period. And to start looking for alternative income revenue streams- primarily Internet based, work from home projects. Set yourself up doing something for someone on the Internet (go to elance dot com for ideas) and work really hard at generating the money you'll need to buy your brother out. He will have to wait as it appears to me he does not have a choice.

You can then continue living there, fix the place up at your convenience, and work from home making some good money.

Hope this helps and all the best.

:A

Bootski

I've removed the link now but I really appreciate all your advice, very helpful.

"Big sigh" - I guess it's best to keep it on the market and hope for the best. I could rent it out, already spoken to an agent and the council - will keep the options open.

Gwhiz - it is a small world isn't. As another poster says it is out in the sticks a bit and a fairly small village so I'm surprised to meet someone on line who lived here AND knew someone from this block!! Unbelievable!

Getmore4less:- as for it being a bit of a duff property, please don't insult it! It's my home. People do commute from this village to all over the place, Local large towns and London etc We're 50 minutes by train to London and M40, M25, M4 not too far away. Agree its best to have a car but it's not like outer Mongolia!!

Anyway, thanks again all.