FRESH VALUATIONS - Still £26k difference!

nodebt_2

House valued Sept 09 £325k, sold in 6wks, fell thru month ago. Decided to try new EA so called 3 round. Valuations - 1: offers over £319,950 to achieve £325k; 2: £315k; 3:£299k. The EA who said £299k had just sold a property same sq foot/style as ours but different configuration - we have 5 beds they had 4 beds - for £297k (was originally up for sale at £329k, then dropped to £310). I asked if he would put ours on for £310k as there is very little room for negotiation at £299k - he said he would. Now my worry is, in view of the other valuations, could we end up selling it too cheap! Also another house similar to ours for sale at £330k, been on market for about 3mths - not sold. We do want to sell and move on but just need to feel we're not going to regret lower price, if we are lucky enough to get buyer. We're not greedy, but would just like a fair price for what is a very nice house, but deciding on what that fair price is the problem! What do folks think?

Fire_Fox

In this market for sale prices are often wildly optimistic, what are the land registry sold prices for your street and area?
https://www.houseprices.co.uk

nodebt_2

Last sale 2002 and that house has now been extended so can't really get comparable value, which is really part of my frustration. People don't move very much around the streets by us. A few different size/style houses sold over last few months but no price info yet and to be fair they are on the other side of our estate and always sell for less anyway, as our side is deemed as better, hence the reason why no-one moves!

Fire_Fox

nodebt wrote: »

Last sale 2002 and that house has now been extended so can't really get comparable value, which is really part of my frustration. People don't move very much around the streets by us. A few different size/style houses sold over last few months but no price info yet and to be fair they are on the other side of our estate and always sell for less anyway, as our side is deemed as better, hence the reason why no-one moves!

You don't need an exact comparison. Obviously a well designed extension will add value, but the sale price of other houses gives you a concrete starting point. Have the other houses actually sold or gone under offer? Not the same thing. If you can't get prices for your street then look further afield until you do.

brit1234

You may have to drop your price, but on the flipside the properties you look at will be falling in price this year as well.

No real loss.

surreybased

Hi,

I sold my house last year - really quickly and did wonder if perhaps I had let it go for a little under it's worth,however subsequent properties in the area (& very similar) are not selling so I realise I did make the right decision.
If you get buyers queuing up then you can always revise the price - a house will find it's own value.
Putting it on for above the EA recommendation does risk no viewings and you need a good start and interested people.

A house in my area is on for a good price - it's had so much interest that there is now bidding wars and it will sell for £50k over valuation. The EA admitted that a lower valuation gets people through the door and competitive buyers will pay what the house is worth.