House Prices

mumoffour77

Need some advice PLEASE!!!

Trying to buy a house.....Price; 182000.00
Rateable value.......£107000.00

Anyone know what sort of offer i should put in??
Its been on the market for a year......

PLEASE HELP!!

I would love to buy this house (its a wee labourers cottage)



SORRY ALL just posted a new thread!!

tara747

pgilc1 wrote: »

I'm fully aware of what house prices are now, and if you'd read my posts you would know i never said my house was 'worth' £280K, merely that at the peak of the market it would have sold for that. Given the value of semis and adding a pro rata estimate on for the fact ours is detached, four bedroom, extended garage, brick driveway, etc, my thinking is it should make £170K or thereabouts. Estate agents are telling me that if i'm lucky i *might* get someone to take it off my hands for £145K.

Why should i panic sell at that price when i dont have to?

We've easily got it rented out to a lovely retired couple who are looking a long term let close to their daughter and her family, so we'll bide our time and see what happens over the next few years.

I thought you said that you needed to decide within the next couple of years whether to sell because of CGT - is this right and are your tenants ok about it? 'Long term let' to me usually means longer than 3 years...

motorguy

tara747 wrote: »

I thought you said that you needed to decide within the next couple of years whether to sell because of CGT - is this right and are your tenants ok about it? 'Long term let' to me usually means longer than 3 years...

They've signed up for a year to start with. I guess we'll sound them out over time to get an indication of their timescales.

If i could afford to keep it indefinitely i would.

tight_arze

mumoffour77 wrote: »

Need some advice PLEASE!!!

Trying to buy a house.....Price; 182000.00
Rateable value.......£107000.00

Anyone know what sort of offer i should put in??
Its been on the market for a year......

PLEASE HELP!!

I would love to buy this house (its a wee labourers cottage)



SORRY ALL just posted a new thread!!

That is a ludicrous price for a cottage. Far too high over its rateable value. The most I would go over rv is 10-15k on offers.

Its very unlikely your offer will be accepted if for example you were to put in £115k.

I would have a look round at other properties.

steveymp

Well I'm trying to sell at present and I do agree with everyone that the prices are too high:eek:

My wee semi would of sold for 180 during its peek, we have it up for 130 now:o a few shows to people but no offers yet. We have made offers on 2 houses but lost out to people who actually offered less:eek: Both houses where repo's and the selling banks took the lesser offers as the buyers had no other property to sell:(

The only people selling houses at reasonable prices these days seem to be contractors in the North West:T Nearly bought a new build 4 bed detached last week for £150,000 including fully spec'd kitchen, bathroom suites, fireplace, vertical blinds and painting etc... If only the residents of the wee village outside the Maiden City didn't feel the urge to paint the kerb stones and hang out the flags:( They would be considered my colours, but I have no wish to raise my children in that type of environment:o

Anyway look into repo houses if you have the cash or prearranged mortgage and nothing to sell yourself and offer 10-20k less than the EA is asking for;)

NAR

My friend is an Estate Agent and on Saturday he told me that business is still dead. Over the last year or so he has had to pay off most of his staff and has had to work every Saturday himself (he has a young family). He had several boom years where he done very well, so he is not complaining. However he is not seeing any turning of the corner on the horizon yet.

CityWalk_2

alright people. House prices. My favourite subject! House prices in Northern Ireland are ridiculous, in fact. Beyond belief. Reason. People are buying them at stupid prices. Lets have a think here.

I have just came back from a year in America. Florida to be exact. Out there a 100k will buy you a 4/5 bedroom house with a swimming pool on a gated community. Or I can buy a mid terrace shoe box 2 up 2 down here for possibly more money. Tough decision.

Houses here are still way over priced even at the low cost they are now. Developers holding on to the land they bought a few years ago is also a major burden. There are too many empty wastelands in major towns. There waiting for the boom again to get their greedy hands on as much cash as possible. This should be illegal. In the state of Florida if you buy a plot of land you have a set time to build on it or you are fined.

No one should be paying more than 30-40k for an ex council 1 bed. No one should be be paying more than 40-50 for a mid terrace and no one should be paying more than 50-60 for a semi. We should not be paying more than 100 pounds a sq foot for a new build either.

Second home buyers. Also stopping first time buyers on to the property market. Pushing prices up. The same people who sometimes have their own kids trying to get on the ladder. The same people that complain about that fact.

How to stop the problem? Stop buying houses at silly money. If you bought a house at twice the value its worth now. Its your own fault. I didn't I've waited and I'm still waiting. Do a global check of house prices and see where your money goes elsewhere. This is not a tropical island. This is not Chelsea. This is Northern Ireland.

A single person with a salary of say 15k should be able to buy a home a one bedroom flat for 4 times there salary. But they can't. I'll say it again.

Stop buying at silly money. Let the developers take the fall for their own greed a few years ago.

Buying a home is not a strong investment. Everyone thought it was and some still do.

CityWalk_2

that 100k was $100 000 by the way not sterling. And it was a friend who bought the house

avenida

NAR wrote: »

My friend is an Estate Agent and on Saturday he told me that business is still dead. Over the last year or so he has had to pay off most of his staff and has had to work every Saturday himself (he has a young family). He had several boom years where he done very well, so he is not complaining. However he is not seeing any turning of the corner on the horizon yet.

Yes I have my house on the market I rang agent and he says drop it 5K - what FOR!!! People offer a good bit under asking price anyway and cant even see anywhere I want to buy anyway, just as well im not desperate to move!

tara747

avenida wrote: »

Yes I have my house on the market I rang agent and he says drop it 5K - what FOR!!! People offer a good bit under asking price anyway and cant even see anywhere I want to buy anyway, just as well im not desperate to move!

I don't know what it is with all these people who put their houses on the market just for fun.

People will offer what they can afford, and what they and the bank think the house is worth. If your house is not selling, then it's overpriced. Simples. How long has it been on the market for? If you are happy to wait it out, you may need to wait a few years, because things are going to very hard in NI for the foreseeable future. House prices are only going one way and it's not up.

Anyone who does want/need to sell would do well to take advantage of the current ignorance of the general public who think that the worst is nearly over and IRs will stay low, and knock a few quid off the price.

Of course, those who don't need to sell can just sit back and relax.