Are we over priced??

SelbyJay_2 · 2 April 2010 at 4:51PM

Food for thought defo : /

Kay_Peel · 2 April 2010 at 5:17PM

Would it be possible to 'lose' some of the furniture in the master and second bedrooms - to open up the space?

Possibly, rearrange the blue bedroom so that the bed isn't pressed up against a raditor under a window? It's the main photo when you first visit the site.

The living space is so nicely presented and the views just need a bit of sunshine to completely draw the eye into the rest of the presentation.

Good luck - you have a lovely property there.

Blacksheep1979 · 2 April 2010 at 5:49PM

SelbyJay wrote: »

Blacksheep - although i have a hunch that the EA's have over inflated our valuations a little, i would disagree that it was the shared ownership scheme that has inflated the price. We do have a niche market, but i can personally vouch for the genuineness and success of this scheme and would recommend any FTB investigate SO as a way to get on the property ladder.

I think you're being a little blinded by the fact that you don't want to admit you made a mistake buying this property. Prices are higher proportionally than if you buy 100% of a property (seriously just do the sums i.e. 40% share x 2.5 gives full price and I'd almost guarantee that every time it comes out higher). Because of the inflated price and reduced pool of buyers you're stuck with it - how can you honestly recommend that to others?

brit1234 · 2 April 2010 at 6:03PM

SelbyJay wrote: »

i would disagree that it was the shared ownership scheme that has inflated the price. We do have a niche market, but i can personally vouch for the genuineness and success of this scheme and would recommend any FTB investigate SO as a way to get on the property ladder.

You would have the first shared ownership property ever then without an inflated value;). Sorry only teasing but they are well known for being overvalued compaired to other properties.

As a first time buyer I turn off when I see shared ownership, too costly and too many conditions. Personally I want a button to exclude shared ownership on rightmove searches.

Good luck with selling however the SO will be the first thing to put buyers off, then the price.

cuthbert_the_octopus · 2 April 2010 at 7:44PM

brit1234 wrote: »

As a first time buyer I turn off when I see shared ownership, too costly and too many conditions. Personally I want a button to exclude shared ownership on rightmove searches.

There is a button to remove shared ownership properties.......
Once you have seached 'filter your results' and you can select 'non shared ownership'

Hope this helps........

brit1234 · 2 April 2010 at 8:06PM

thanks

SelbyJay_2 · 2 April 2010 at 9:06PM

I dont want to get in to the whole "shared ownership is a scam" argument, because i can vouch for their effectiveness. Some schemes are better than others and they should be assessed on their own merits. The scheme helped me build equity and thus a deposit for another house. Isnt that the whole point??

I dont believe for one second that i made a mistake buying this place. I've been very happy here for 4 years. Nows just time to move on. And i would certainly recommend any, well thought out, SO scheme to anyone and advise them not believe all the rubbish you read about them on here.

I didnt pay an over inflated price (even 4 years ago i couldnt have got the quality of build and spacious living space for what i paid for this, anywhere else in this area) and the only conditions i agreed to were not to change the exterior appearance of the property, pay my rent on time and sell to another FTB. And even with rock bottom interest rates on my mortgage, my rent and mortgage is still about £150/£200 a month less than if i owned the property outright.

Ooo how i feel like i'm being scammed!

If my property is currently over valued, i believe it's because A) i've mistakenly put trust in EAs or

because of the wider troubles in the housing market. Not because it's part of a SO scheme.

brit1234 · 2 April 2010 at 10:31PM

SelbyJay wrote: »

If my property is currently over valued, i believe it's because A) i've mistakenly put trust in EAs or because of the wider troubles in the housing market. Not because it's part of a SO scheme.

If thats the case why do so few lenders support the scheme?

Keep us updated on the sale news

SelbyJay_2 · 2 April 2010 at 11:18PM

That's a good question. But then who can really trust the banks considering the damage their decisions have made to our economy? Banks hardly deal with those with 5% or 10% deposits, does that mean that those with low deposits should be excluded from the property game also?

tara747 · 2 April 2010 at 11:22PM

Sorry if it's already been said, but with the property crash SO properties are suddently very unattractive. That said, I wish you the best with selling.