House Prices

ballyblack

£-25K

maybe that now is the market price?

avenida

Darcy_1 wrote: »

I understand that. I have my house £15k under the price of all the other houses in the area and the offer that has been made is £10k below that!!

I know its a tough market, I am on the same boat but am getting no offers, I guess what everyone tells me is its only worth somebody is willing to pay for it, could you offer that much less on the house you want to move to?

Darcy_1

It would just be my luck that one of my neighbours got the full asking price after I had sold!!! (Although none of their houses seem to be moving.)
The annoying thing is that we had it agreed for £15k more than the offer in at the minute about 16 weeks ago. Surely they have not dropped that much. It is a first time buyer type house/price.

tight_arze

Darcy_1 wrote: »

I understand that. I have my house £15k under the price of all the other houses in the area and the offer that has been made is £10k below that!!

Despite your house being 15k lower than others in the area, it and the others could still be over priced if they aren't selling. Are you considering the offer?

Im looking at buying a semi detached house in East Belfast, most seem to be priced at 150k with no garage and needing work done. Considering I know of a new build site in the area, you are getting a new semi detached house with a driveway, legal fees paid and in a nice area for little over 150k these other semis are very poor value.

My fiancee and I were putting in offers of 130-135k a while back for some of these properties and all have been declined. Some sellers really need to get real. Things are very likely to get worse for house prices with looming spending cuts coming soon.

x12yhp

It is very difficult but, as others have said, you have to go with the market. At the moment, it appears that the volume is so low that it is down to pot luck. You could reduce to 25k less than those others in the area and it sounds although you would sell. But that one guy who is looking for that specific property might show up tomorrow and pay 15k more to the guy down the road. It is all about whether you can afford to wait. Just remember that the longer that this goes on, the more people will in fact NOT be able to wait and the price will appear do decrease further for buyers.

Darcy_1

I have just agreed the offer!! Thanks for all your help.

avenida

Darcy_1 wrote: »

I have just agreed the offer!! Thanks for all your help.

You are so lucky, well done, I cant even get an offer, just getting viewers coming out saying, nice property but too small, have just dropped the price again, losing the will right now but I hope it all works out for you!

Darcy_1

I have been to this point before so don't want to get too excited! There is just not enough people out there looking at the minute.

x12yhp

Good call Darcy_1 - I hope you find others similarly sensible down your chain!

tight_arze

Darcy_1 wrote: »

I have just agreed the offer!! Thanks for all your help.

Congratulations. Hope everything works out for you. :beer: