New pics on Rightmove!!

dopester

poppy10 wrote: »

Yep. Shame some people are so fixated on their emotional inflated estimate of their house's value that they can't make objective decisions on setting a realistic price. As you say, they will end up losing even more money as they ride the market down. In this case the neighbour has stolen a march on the OP, and will probably sell her own home first as well as destroying any chance the OP has of fetching her desired price.

Quite. Not just that though, because even when the neighbour's house sells, the OP also still has market competition with other sellers in the local area.

Last time I looked there were more houses coming on the market within a 1/4 an 1/2 mile radius, including 3 bedders, which look to be on less busy roads, and more reductions in asking price, putting pressure on the OP's asking price.

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.

Harry_Powell wrote: »

The crash is over, those days are gone.

Again, I think such hardliner advice is not helpful - and suspect it comes from a non-seller not wanting values to fall. Such advice can be wholly more damaging, than calls for people to objectively look at the market and at reducing their their asking price in order to successfully sell.

Sellers trying to hold the market to hostage by may end up entirely in a much worse position, risking losing many thousands. If they'd adjusted their asking price earlier, in order to get market interest, they may have a much improved chance of selling, and letting the new owner take any/all further falls in value.

The OP it seems has recently green-lighted a new reduction in asking price. Are you really going to insist the OP raises their asking price back because the market can and should pay more?

The OP has given themselves an improved chance of selling with this cut in asking price, in the market conditions, but it could be have been sold by now if such action had been taken some months ago. One wonders if it will now require a further asking price reduction from here, chasing the market down.

http://www.rightmove.co.uk/property-for-sale/property-16029327.html
30 June 2010 21:22:48
* Price changed: from '£128,995' to 'Guide Price £119,995'

(Original associated thread here)

dopester

If the OP manages to sell towards their guide price (£119,995) it won't be that bad for 2 years of housing, given it was only bought 2 years ago at £125,000.

Renting a similar property for 2 years would have probably been more expensive. Although it has not yet sold, so final calculations will depend on what it eventually sells for, and there are widely different opinions to where the market is heading in terms of value.

Sales Date: 30/06/2008
Price: £125,000

http://www.houseprices.co.uk/e.php?q=Victoria+Road%2C+Bletchley%2C+Milton+Keynes

Harry, the OP also was minded to squeeze for value when in a position of strength (buyer), when ruling out renting as an option. The OP negotiated discounts, and both the buyer (OP) and the seller, eventually decided to transact (£125K).

Would you have been telling the then seller to not reduce their price so the OP could buy? Would you also have held a grudge against the OP's mindset at trying to negotiate better value? Although personally I would have been in the 'avoid buying, rent instead' camp.

redhead123 wrote: »

I'm also a fan of 'if you don't ask you don't get' - they can say no. However I know the builders are desperate to move things on because they've demanded an exchange this wednesday! Which is pretty darn quick...

I'm also a FTB and if I pull out now it's going to delay them even more and they may end up losing out more; this is the best position I'll be in; with prices dropping anyway I reckon I might as well.

https://forums.moneysavingexpert.com/discussion/934263

The OP also got some good suggestions/information prior to deciding to rule out renting as an option, and buy this house for £125,000 which they are now trying to sell.

Lotus-eater wrote: »

Why not rent until you want to buy together? It costs alot to buy and sell a house you know.
I can't see one good reason to buy a house.

GDB2222

"Property is currently not on the market One Solicitors Estate Agency, Leighton Buzzard have removed this property. It may now be sold, under offer or temporarily withdrawn from the market."

dopester

GDB2222 wrote: »

"Property is currently not on the market One Solicitors Estate Agency, Leighton Buzzard have removed this property. It may now be sold, under offer or temporarily withdrawn from the market."

New linky. [Sho'nuff]Who's the master?[Sho'nuff]

http://www.rightmove.co.uk/property-...-16029327.html
30 June 2010 21:22:48
* Price changed: from '£128,995' to 'Guide Price £119,995'

Cannon_Fodder

Two months wasted, missing the 'busy' spring period, now drops the price anyway, when we are close to summer holidays and buyers are likely to tail off for a while...

Only now, within 1/4 mile, there is this 3-bed for £115k to compete with...
http://www.rightmove.co.uk/property-for-sale/property-29111570.html
or 2-bed for £110k, http://www.rightmove.co.uk/property-for-sale/property-15528927.html

Good work, Harry.

GDB2222

Cannon_Fodder wrote: »

Only now, within 1/4 mile, there is this 3-bed for £115k to compete with...
http://www.rightmove.co.uk/property-for-sale/property-29111570.html

The bathroom on that one is on the ground floor, behind the kitchen.

Cannon_Fodder

True, but it has a dining room and extra bedroom. For less money.

Anyway, her shower room is on the ground floor, too...by the front door and stairs...? Or is it the back door and stairs ? Back, I think. With no door ?! Presumably through from the kitchen, too..?

If the downstairs bathroom was an issue, a buyer could pay £5k less (probably even more) for the bigger property, stick a bathroom in the 3rd bedroom, and use the old bathroom to make a nice-sized kitchen, and end up with a much nicer 2-bed house for the same as the OP wants...

GDB2222

That's very true. I guess you'd have to look at them all to compare, but it does sound like the original house is now priced more in line with the market. I guess the neighbour's has sold too, which helps.

Cannon_Fodder

Its getting there, but is the market moving ahead of her re-pricing..? Chasing prices down is not a good idea.


[IMG]http://www1.landregistry.gov.uk/houseprices/housepriceindex/report/default.asp?g=1&gt=1&a=Milton+Keynes&s=01 April 2010&e=01 May 2010&t=1[/IMG]


(-0.1% !)

Ulfar

Okay going to be picky here but no picture of the bathroom and I wouldn't view.

I would let you get away with not showing all the rooms but the bathroom and kitchen have to be in.