Are we over priced??

brit1234

SelbyJay wrote: »

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?

It wasn't just the banks, the government and members of the public also had a significant effect on the damagetoo.

As with low deposits you should be excluded as the higher deposits are to protect the lender from the comming price falls. Little deposit and you slip into neg equi quickly in this overvalued market.

Eric1

SelbyJay wrote: »

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?

Sorry to be blunt, but yes. Especially now, when the probability of 5-10% falls is very real. If those with low deposits do not understand the risk, banks should protect them, at last.

carefullycautious

How can you say you have built up equity when you cant sell it due to it being an overpriced shared ownership. Sorry to be blunt.

Turnbull2000

Eric1 wrote: »

Sorry to be blunt, but yes. Especially now, when the probability of 5-10% falls is very real. If those with low deposits do not understand the risk, banks should protect them, at last.

Really? How do you suggest that will happen? Rates will remain low for a good few years yet, the mortgage support scheme to help struggling owners has been extended once more, and it would be political suicide to remove it. Forced sellers are also rare due to government pressure on banks.

A reduction of that level is highly unlikely unless we experience another large economic shock. There may be some scope for falls when the Special Liquidity Scheme ends next year, but a combination of further government intervention and continued lack of forced buyers will prevent this. Transaction levels may also remain low to match the possible lack of mortgage availability. +10% is far more likely that -10%.

Eric1

Turnbull2000 wrote: »

Really? How do you suggest that will happen?

Like in the US, or Japan, or Greece.
In fact, I've just seen two 10% + reductions in my area in the last three days. Both went down to 250,000 and sold instantly. Meanwhile, other houses asking the same have been sitting there for months.

Edit: just found out one of those two is not sold yet, but not likely to stay there for long

partlydave

Kay_Peel wrote: »

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.

I agree here, is it possible the bed can be turned round to fit in the middle of the room.
Nice location, near the river and station. Got a fair bit going for it imo.:)

mynewusername25

This will sound crazy but... Maybe it's under priced ? I had a look at the photo's (before I saw the price) and thought that it must be worth 80 - 100K, I was surprised to it's only 50 odd K

Looks really nice well done on the presentation.

Blacksheep1979

mynewusername25 wrote: »

This will sound crazy but... Maybe it's under priced ? I had a look at the photo's (before I saw the price) and thought that it must be worth 80 - 100K, I was surprised to it's only 50 odd K

Looks really nice well done on the presentation.

That's because you're only buying half the property

poppy10_2

SelbyJay wrote: »

I didnt pay an over inflated price

Time will tell. You have already dropped £1000 off the asking price in a month. We shall see how low you need to go to attract any interest.

Emy1501

Whats your area like for selling properties? Are your agents doing well with the other properties they have on the market? Do you know how many viewings the property downstairs has had. Your agents should have contacted all their potentials buyers on the their books looking for your sort of property and then provided feed back as to why people are not coming to look at it.

4 weeks is not a long time but their seems something wrong if you have had no viewings in this amount of time. Also shared ownership is difficult because its limited to a certain type of buyer.