New pics on Rightmove!!

Harry_Powell

GDB2222 wrote: »

But if you put your house on the market speculatively at the same price as your next door neighbour's, which is much more valuable, all the people who are interested in that sort of house in that sort of neighbourhood will look at both. They may not come round, and they may just look at the adverts. They'll then mark your one down mentally as being poor value. You've then got an uphill task to sell it.

The OP has said repeatedly that she put her house on the market first, so your whole argument is moot, unless of course you think the OP should have visited a fortune teller to determine the future sales on her street?

GDB2222

No, she doesn't have to visit a fortune teller. She just has to ring her agent and say to take the house off the market for now. You're being tiresome or very very dense. I think tiresome, but I'm beginning to have my doubts.

coupleuk

The property at £129,500 looks 1,000 times better than the other one.

Pved garden instead of compacted hardcore, large kitchen instead of cluttered cramped one and the attic space as a bonus.

You either need to knock £10k off your price and hope a DIYer can see the potential based on next door or you need to remove from the market until theirs has sold.

Remember, that once theirs has sold, potential buyers will only see the selling price and make a direct comparison with your property - they wont see the pics showing a superior property.

Also, PropertyBee tracks the historical data for a property, so anyone with that software can see immediately that yours has been for sale for x years etc - much better to have a new property showing just after their sale.

redhead123

I'm afraid it'll go on the rental market before that happens.

Does it cost 10K to do a loft conversion then?

And talking of houses being on the market a long time, people who have been house hunting in this area will be aware that next door was on the market for about 10 out of 12 months of last year!

Sammy85_2

It doesnt matter how long next door has been on in the past. Its cheaper than yours and bigger. That is all potential buyers will see.

Harry_Powell

GDB2222 wrote: »

No, she doesn't have to visit a fortune teller. She just has to ring her agent and say to take the house off the market for now. You're being tiresome or very very dense. I think tiresome, but I'm beginning to have my doubts.

I've obviously hit a nerve with my comments, as you've now descended into personal abuse. I'll leave it there, I'm not into these petty arguments that you HPC guys seem to enjoy.

CloudCuckooLand

It does matter that next door has been on for 10 months.

In fact, that's the point. Its been there, failed to gain interest and still hasn't sold despite being bigger, nicer, now a tad cheaper etc.

Which makes the OP's place look expensive. And everyone can see that.

pingu2209

I remember the original thread and I think your new photos are much much better. Amazing difference.

I know that you don't want to drop the price of your property and feel that waiting till your neighbour sells will help mean you can get more for yours as there would no longer be a direct comparison. However, potential buyers will cross reference the sales in the road and work it out for themselves. You neighbour has skuppered you whether he sells first or not.

If you believe you will rent your property out rather than drop the price. My advice would be to do it now and get on with your life. You could be waiting around and before you know it a year has passed.

I don't mean to annoy you, I truely believe that because your neighbour has a bigger house and better kept garden and a lower asking price, you are going to have to drop by loads to secure a sale; which you have already said you will not.

redhead123

pingu2209 wrote: »

I remember the original thread and I think your new photos are much much better. Amazing difference.

I know that you don't want to drop the price of your property and feel that waiting till your neighbour sells will help mean you can get more for yours as there would no longer be a direct comparison. However, potential buyers will cross reference the sales in the road and work it out for themselves. You neighbour has skuppered you whether he sells first or not.

If you believe you will rent your property out rather than drop the price. My advice would be to do it now and get on with your life. You could be waiting around and before you know it a year has passed.
.

Thanks Pingu and HarryP - I think I'm just going to mull on it for a few weeks (my FR mortgage ends in June and so long as interest rates don't change much, I'll go down to 380 a month on the SVR) - well til after I've been on holiday and the general election has passed lol! I already have a potential work colleague who might be interested in renting it for a few months.

QUestion - if I rent it for a few months or a year and then put it on again, do I need to re-do the HIP or is it still valid???

dopester

Harry_Powell wrote: »

The OP has said repeatedly that she put her house on the market first, so your whole argument is moot, unless of course you think the OP should have visited a fortune teller to determine the future sales on her street?

Be that as it may, effectively a superior home is on the market, right next door, at a lower asking price. Also she will have had insight with the house next door having gone on market for a 10 month stretch previously without selling.

Stranger things have happened, but the OP would really need major luck to get an offer for her home close to the price she is asking, with the buyers (and mortgage lenders' valuers) ignoring the house for sale next door.

I don't know how it can even be considered a "price-war", with the OP's home up for sale at a higher price than the one next door.

Harry_Powell wrote: »

Watch out for the advice given on this forum. The last few responses are from notorious 'bears' who are desperate for a housing crash and will do and say anything to talk down house prices. Hold your ground, don't give away your home.

Facts are, the house next door is superior, is on the market for less money, and still hasn't sold. Some people might like to twist that as 'bears just trying to talk down the market' but it doesn't hold much validity in this case. It could be that your position is more dangerous than you realise if you can't objectively deal with this example, if prices didn't bottom in 2009 as you believe.