House Prices

Darcy_1

I couldn't agree more with the above post.

avenida

tara747 wrote: »

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.

Okay I dont find spending £315 on estate agent fees and epc certificate fun. I have had my house on the market for 9 months and have dropped the price 10K in that time, had one offer and 4 viewings, if I could see somewhere on the market to move to i would defo drop the price but at the moment theres not much suitable for me out there

tara747

avenida wrote: »

Okay I dont find spending £315 on estate agent fees and epc certificate fun. I have had my house on the market for 9 months and have dropped the price 10K in that time, had one offer and 4 viewings, if I could see somewhere on the market to move to i would defo drop the price but at the moment theres not much suitable for me out there

So it seems that you have 2 separate problems - your house won't sell and you can't find somewhere to move to. The #1 thing is to sell your house, and it seems to be overpriced. Does your EA ask viewers for feedback? If not, they should! So drop the price and see who bites. You can always go into a rented place for a bit till you find your perfect pad, then you will be in an even better position as a chain-free buyer. Chains are not easy and you may find your dream house, only to find that you can't sell yours and the dream house sellers won't wait!

One other thing to remember is that a financial and economic s**tstorm is about to hit NI, so if you drop your price to sell, by the time you find somewhere you want to buy, it will be cheaper again, so you will be no worse off. In the meantime, you'll be earning interest on any equity from your current house.

I firmly believe that any motivated sellers only have a short window *now* to get their houses sold before Joe Public realises what's going on and by how much they will be worse off. Then watch mortgage levels, available credit, disposable income etc plummet. Then the window will slam shut.

Good luck.

rjh090384

our house has beenonthe market for 3 years now -been dropped by 100K in that time - no viewers since the first week onthe maqrket never mind offers!! at our wits end-we are moving towales and have to sell our house!!!

NAR

rjh090384 wrote: »

our house has beenonthe market for 3 years now -been dropped by 100K in that time - no viewers since the first week onthe maqrket never mind offers!! at our wits end-we are moving towales and have to sell our house!!!

Well in 3 years the value will have dropped by 35 - 40%? Is that more than £100k - if so that's where your problem lies I would suggest.

avenida

rjh090384 wrote: »

our house has beenonthe market for 3 years now -been dropped by 100K in that time - no viewers since the first week onthe maqrket never mind offers!! at our wits end-we are moving towales and have to sell our house!!!

I thought months for us was bad but 3 years, what about featuring your property on propertypal? Maybe put a link of your house on here and we could give you some feeback, its tough!

elvis_girl

avenida wrote: »

Okay I dont find spending £315 on estate agent fees and epc certificate fun. I have had my house on the market for 9 months and have dropped the price 10K in that time, had one offer and 4 viewings, if I could see somewhere on the market to move to i would defo drop the price but at the moment theres not much suitable for me out there

Avenida I feel your pain! I have dropped my price by another £5k last week & have also had mine on the market for 9 months

avenida

elvis_girl wrote: »

Avenida I feel your pain! I have dropped my price by another £5k last week & have also had mine on the market for 9 months

How much have you dropped your house in price in total over the 9 mths? Have you had any more interest dropping it by 5k?

rjh090384

i would welcome feedback but how can i do it without showing everyone my address?

rjh090384

NAR wrote: »

Well in 3 years the value will have dropped by 35 - 40%? Is that more than £100k - if so that's where your problem lies I would suggest.

40% off the original price makes it £141000 and we have it on atm at £134000 as we just need rid asap