Neighbour has put hers up for sale as well!

redhead123

I put my house on the market earlier this week for 129,995..
http://www.rightmove.co.uk/property-for-sale/property-29080541.html

.....but...my neighbours has gone on the website today at 129,500!
http://www.vebra.com/home/search/vdetails.asp?src=agent&fd=200&bd=0&db=1&cl=2316&pid=20292837

:eek:


She tried to sell last year for 134,995 had a lot of offers but apparently rejected them. I think she wants to move as her young son is due to start school and she wants to move to an area with a better school.

I'm not sure what to do (I guess not much!)...hers is slightly bigger and has the addition of the loft conversion and a summer house in the back garden and upstairs bathroom.

I guess I'm resigned to the fact that anyone who does come to see mine will be interested in hers more - so I just hope hers sells quick. I'm tied in to sole agent but for 6 weeks and 1 per cent fee.

I'm not in any rush to move as am just planning on moving in with my OH and then later we're going to sell his and buy something together. It's just frustrating!

mbga9pgf

drop the price.

redhead123

To what? I paid 124,995 for it and assume offers will go lower than that for it but as I'm not buying another house I'm not willing to take really low offers.

If it looks like it won't sell then I'll take it off the market and just keep it as a rental. I'm just not sure how long to leave it on the market for before I do that.

somethingcorporate

When did you buy it?

redhead123

June 2008. It was on for 135,000 then!

The only reason I put it on the market is cos me and my OH spend a lot of time driving to each others houses and are paying 2 mortgages! There isn't really any other reason as it's quite close to where I work...and I guess I could rent it out to people at work as there are quite a few who advertise on the intranet looking for rentals. But I thought I'd try and sell first as didn't want the hassle of renting.

potter78_2

To be honest, there's not much you can do. You could drop yours, but then what if she does the same and then you're both (arguably) losing out. I'd wait it out for a month or so and hope hers sells quickly. If it doesn't, I think you need to drop yours first if possible and hope she doesn't do the same.

This happened to me 2 years ago. 3 identical houses all went up for sale (including mine - annoying as I'd waited for another one to sell before putting mine on the market). The one with the nice interiors sold quickly for a good price, and mine and the other one both had to drop quite a bit (in a falling market) before we both sold at a much lower price.

somethingcorporate

Tricky one indeed.

You'll have to weigh up the cost of mortgage against any reduction in price.

For instance, if you pay £500pm mortgage if you don't sell for a year you would have effectively "lost" £6k, if you are not deriving any benefit from having the second property. You would be better to knock £3k off the price and sell it quicker.

At the end of the day it's a gamble, you could reduce to the price you paid and just accept asking price offers, this is the alternative to putting prices on expecting to get knocked down.

Good luck!

puddy

if you're still looking at selling, i have to be honest with you, her pictures are better and she offers better value for money. whether its true or not, her house looks a lot bigger (although i cant see why if they are the same property) (didnt read the sizes)

you either need to get better pictures or to repaint a few walls and then get pictures, the colours make yours look a bit dowdy and dark (personally i love red but it doesnt show it off as well)

drop it to 127995

redhead123

Another thing - my mortgage (fixed rate) expires in June (512per month)...if I leave it on the SVR then it will go down to 380per month - so long as interest rates don't go up lol!)

<sebb>

The zoopla estimate for your property has it down as £116,719. I'm afraid properties in your area have gone done since you bought it. If you're not willing to take the hit then you'll have to rent.

redhead123

jenner wrote: »

if you're still looking at selling, i have to be honest with you, her pictures are better and she offers better value for money. whether its true or not, her house looks a lot bigger (although i cant see why if they are the same property) (didnt read the sizes)

you either need to get better pictures or to repaint a few walls and then get pictures, the colours make yours look a bit dowdy and dark (personally i love red but it doesnt show it off as well)

drop it to 127995

Hers is bigger - heck, if I was buying I'd buy hers!! It's bigger cos she has the bit over the tunnel bit. I think she wants a quick sale though so hopefully it will sell soon...although it was on the market for 12 months before! (but an agent who marketed it told me that she had loads of offers but didn't take any)

Will 127,995 make much of a difference? I assume people will go for low offers anyway