Someone please buy my blooming house!!!

tyllwyd

Henry_P_Chester wrote: »

Unless you are selling in a falling market in which case the speed is of the essence.

Or unless you say sod it all and take your house off the market and wait for things to improve. That does seem to be a bit of a trend around here anyway (and one we're considering).

DVardysShadow

skypie123 wrote: »

Oi! I am French!

Je ne regrette rien

PasturesNew

tyllwyd wrote: »

In our area, between £300K and £350K (where our house is priced), I've been looking for the last four weeks and nothing has gone under offer in that time (about 25 houses). Surely they can't all be overpriced?

I'm probably old enough to be your mum ... and if I had a time machine and went back and stole every previous pay packet from myself since I was about 14 and working in the school holidays, added in my babysitting money, all the jobs, the lot... everything.... I'd still not have £300k.... so for a lot of people, yes, £300-350k's very unaffordable.

PasturesNew

It took me a year to sell my house just before the credit crunch. I knew prices were going down and didn't want to get trapped there ... I was sweating with every day that passed.... credit galore was in abundance back then, EA told me not to drop my price... I held on ... and it took a whole year! One reason is it took my buyers 4 months to sell theirs (to a FTB).

Henry_P_Chester

tyllwyd wrote: »

Or unless you say sod it all and take your house off the market and wait for things to improve. That does seem to be a bit of a trend around here anyway (and one we're considering).

Beware it could be a very very long wait. After the last housing crash in the late 80s/ early 90s it took more than 10years for prices to return to their peak.

Average real house price 1989: £118,476
Average real house price 1999: £92,535

Source http://www.nationwide.co.uk/hpi/historical.htm

SusieT

I had to drop the price on mine by nearly 10% compared to what it was valued at 18 months ago. I have now had 4 viewers, 2 of whom want second viewings so hopefully it will get an offer thats proceedable soon.
if the house is not selling and the others in the area are not selling then if you really want to sell I would say drop the price and see what happens.

tyllwyd

We bought our first house in 1993 so I was aware of the crash in the 1980s, although we were lucky enough not to get caught up in it. We've got equity in our house now, but I am more than aware that most of it came as a result of house prices going crazy since we bought (and some of it comes from us paying our mortgage for the last 17 years and some from the blood sweat & tears we've put into improving this house since we bought it).

I'm not particularly bothered about the actual price of the house, but I am worried about the differential between what I sell this one for and what I could buy the next one for. If this is a temporary blip with no buyers around for a few months for various reasons, dropping the price now in a panic could be a huge mistake. If this is a longer term situation, then yes, reassessing what is a realistic price is the best idea. If things carry on as they are, we might decide to take the house off the market now, wait six months for things to settle down and see where we are.

dontpushit

tyllwyd wrote: »

Or unless you say sod it all and take your house off the market and wait for things to improve. That does seem to be a bit of a trend around here anyway (and one we're considering).

This is something we're considering doing as we have been on market since Sept, sold once, fell through Jan. We looked at prices in area and decided to price ours lower so dropped it £15k and would be willing to take a further £5k off it we got an offer, hopefully making it competitively priced. Another house the same as ours is being marketed at £20k more so anyone looking at that should think ours in bargain. We present it really well, no clutter, bedrooms spotless, etc so have really thought about how it appears. Other properties, slightly different design but space pretty similar are being put on market at moment at anything from £7,500k more than ours to £35k more than ours - they're not selling so obviously overpriced, but we hoped this would make ours more attractive. Had viewing yesterday and awaiting outcome, but we're feeling deflated and actually think we may invest in new kitchen and stay put for another few years. The decision is so hard, as we felt very committed to selling 8mths ago, but now have a sense of "is it the right time?" Sympathise with everyone else going through same thing - but I reckon we can do no more unless we're prepared to literally give the house away (in my opinion).

Old_Git

skypie123 wrote: »

Its been on for 2 months and I've had about 9 viewings now. I always bake my lovely shortbread before they come and have vanilla everywhere.
I am just an impatient soul!

nine viewing is good ,did you get feedback from the agent . oh and can you post a link so we can pass coments and be nosey and stuff

Henry_P_Chester

if your looking to upsize then a drop on prices is better for you (as long as you don't get into negative equity) it makes the step up much cheaper. I think now is a very good time to sell. Would you be able to rent for a year while you look for somewhere to buy after you have sold.