Lower Valuation than I thought from Estate Agent?

timmyt

nollag2006 wrote: »

No harm in sticking it on at a slightly higher price, particularly in a rising market. Don't be too greedy though.

a rising market, not in the UK that is for sure

nollag2006

timmyt wrote: »

a rising market, not in the UK that is for sure

Really?

lellow_lorry

Oh how i love graphs...so where is the start of 2010? Also that one looks impressive based over 2 years shows extremes in a short period and perceptions can think this is doom followed by boom. Everyone at the moment is concerned the market is flat. Even a friend of mine that runs an independant agents on the south coast(where the market has been quite resilient) has said he is concerned the way the market is turning.
At the end of the day...put it on for what you think its worth, but be prepared to adjust that price if no viewings, reports of price too high come in or don't sell. An agents price is based on their knowledge of the market and sold prices. Remember a lot of reports on price rises/sales/completions are based on about 12 weeks previous. ie sold prices in march have generally been negotiated in dec/jan and taken roughly 8-12 weeks to complete.

jonewer

Actually, prices have been falling since November, according to Nationwide, and are now lower than they were in September 2009.

Sep-09 £161,816 Oct-09 £162,038 Nov-09 £162,764 Dec-09 £162,103 Jan-10 £163,481 Feb-10 £161,320

googler

That's a graph showing "year-on-year percentage change' ..... not actual house prices, nor actual house price change.

TBeckett100

nollag2006 wrote: »

Really?

does this mean people with Nationwide mortgages have higher resale values?

poppysarah

TBeckett100 wrote: »

does this mean people with Nationwide mortgages have higher resale values?

No. I don't think those figures include any "low" sales figures. So repos, auctions etc aren't included.

I'm sure they probably go thorugh with a pen and cross any out that might make it look like house prices are falling too.

Until they show EVERY house sale in the UK then there's no point showing graphs.

Ignite

Nobody has yet asked what the house 2 doors down from you is like inside or outside. If the house needs a lot of work done on it or is a bit of a mess, then it might be putting buyers off.

When we were looking round, we saw a flat that had a shower cubical that had been installed in the corner of the bedroom and there was a serious mold problem in the room because of it. Other similar flats in the same area that were in better condition have sold for at least £15000 higher than this is on the market for. At least 8 months down the line since we viewed it, this flat is still on the market!

Of course, there is the issue of the estate agent itself. Some agents are dire, and I can think of one who isn't worth bothering with locally. A friend had his house on the market with them for 6 months and got very few viewings. Then he went with another agent and had loads of viewings in the first month, and an offer in the second. No change in the price that the property was marketed at. How well the agent is marketing the property also makes a difference.

Do you know what your nighbours house is like? Have you been in it? You could always ask a friend to book a viewing and report back to you.

cormskie

Thanks again for info. The market is very slow in my area but people have to start buying soon! I know how the other property looks because the agent has photos online, inside and out. The houses are identical in structure apart from the other property has three bedrooms and my house has four (plus garage)- the owner of the other property knocked through a wall on the ground floor creating a larger reception room. I would say the other property has a more modern kitchen.
The estate agent said i should market my house as three bedrooms and one dinning room instead of four bedrooms- is that good advice? I also have a reception room. Are they saying that because the other property they are trying to sell on my street has only three bedrooms?

Fire_Fox

So you only have one reception if you don't count the proposed dining room? Where is your fourth bedroom? If it is on the ground floor then it's not a bedroom, it is a reception being used as a bedroom.