Anyone trying to sell in the South??

Henry_P_Chester

gemima wrote: »

Thanks but Wiltshire is more South West than South East and not as expensive anyway in comparison.

I seriously do believe if we dropped ours by another 20k it will not make a jot of difference. We are the ONLY 3 bed detached on the market within a 5 mile radius below £250k, still nothing. It doesn't help that we seem to have some pretty useless EA's that just do not return our phone calls and keep us updated. We seem to be constantly chasing. Given up now, will sit here and if nothing then take it off the market. We have enough equity to drop alot more but we then couldn't afford to buy another one because nobody else seems to be dropping (unless they are over £500k) which is well out of our price bracket!!!

Just wait for the type of house you are looking to buy start dropping their price and then drop yours in line. From what I'm seeing (although SE) is price reductions across all types of houses so maybe your area will catch up.

Also this would be beneficial for you because although you have to drop your price as long as the house your looking to upsizer to has dropped by a similar percent then the move will actually cost you less.

redlady_1

I live in Wiltshire and there are some MASSIVELY over priced properties out there. I think before there was a strange type of panic to get on the market, now people are watching and waiting. Also estate agents are not helping. I viewed a very nice 3 bed cottage with land. When I asked whether there were any other offers on the table he said two who could proceed immediately but nothing has been decided and I should get in quick. Now I point blankley refuse to be drawn into a bidding war, no matter how much I like a house. Funnily enough the house was still on the market 4 months later.

I am still looking but the prices people want for total tat is beyond me. They are also maxed out on mortgages, loans, credit cards (yes I do know this for a fact for many) trying to give the appearance of money and so cant afford to drop. If you know the area you will know what I am talking about, especially a certain cathedral city.

Add this together with the fact that the wages are low and the property is high and it is difficult to get salary multiples now and there is your answer.

gemima

redlady_1 wrote: »

I live in Wiltshire and there are some MASSIVELY over priced properties out there. I think before there was a strange type of panic to get on the market, now people are watching and waiting. Also estate agents are not helping. I viewed a very nice 3 bed cottage with land. When I asked whether there were any other offers on the table he said two who could proceed immediately but nothing has been decided and I should get in quick. Now I point blankley refuse to be drawn into a bidding war, no matter how much I like a house. Funnily enough the house was still on the market 4 months later.

I am still looking but the prices people want for total tat is beyond me. They are also maxed out on mortgages, loans, credit cards (yes I do know this for a fact for many) trying to give the appearance of money and so cant afford to drop. If you know the area you will know what I am talking about, especially a certain cathedral city.

Add this together with the fact that the wages are low and the property is high and it is difficult to get salary multiples now and there is your answer.

Hi, I know what city you are referring to (very snooty although I do have some friends that live there!) and I tend to agree although I don't think you can say so many are maxed out on mortgages and in debt unless you absolutely know for sure the buyers circumstances. I wasn't actually looking for an answer, I know the problem and I think a price drop would be good, I am just frustrated!!! We are not too far away from that area but thankfully far enough away not to worry what the market is doing there.

I, like you would also never get involved in a bidding war and estate agents will say everything to get a deal for their clients. Also, many estate agents are over valuing just to get properties on their books which is all wrong - this gives vendors the wrong impression and you then see them swapping agents a few months later still on at the same price because they think thats what their property is worth because they were told it!!!

Squish_21

Im selling in Somerset. Theres are a lots of For sale signs around on all kinda pf properties, the market it slow.

Mainly 2 and 3 bed terraces that arent shifting at present it seems.

Eric1

Henry_P_Chester wrote: »

Just wait for the type of house you are looking to buy start dropping their price and then drop yours in line. From what I'm seeing (although SE) is price reductions across all types of houses so maybe your area will catch up.

My area (SE) only started catching up this week. One massive price drop today even prompted me to arrange a viewing tomorrow, for the first time this summer.

tyllwyd

Have you seen the house prices report on home.co.uk for Wiltshire - they do quite pretty graphs - here's one for wiltshire for the last couple of years

http://www.home.co.uk/guides/house_prices_report.htm?county=wilts&startmonth=05&startyear=2008&endmonth=05&endyear=2010

you can change the options to get the info closer to where you actually are.

It does show that there was a big spike around last Christmas, but generally sales are slow round here.

redlady_1

gemima wrote: »

Hi, I know what city you are referring to (very snooty although I do have some friends that live there!) and I tend to agree although I don't think I wasn't actually looking for an answer, I know the problem and I think a price drop you can say so many are maxed out on mortgages and in debt unless you absolutely know for sure the buyers circumstances. would be good, I am just frustrated!!! We are not too far away from that area but thankfully far enough away not to worry what the market is doing there.

I, like you would also never get involved in a bidding war and estate agents will say everything to get a deal for their clients. Also, many estate agents are over valuing just to get properties on their books which is all wrong - this gives vendors the wrong impression and you then see them swapping agents a few months later still on at the same price because they think thats what their property is worth because they were told it!!!

I worked in a bank until a couple of year ago. You would be amazed at what I saw. :eek: I think you have hit the nail on the head re estate agents. In this area they havent really had to work before as property has flown out of the door. Now reality is kicking in and they just dont want to be realistic. There is an estate agent who seems to be valuing fairly and his property is moving.

I bought my little cottage in December and had previously been looking in West Wilts for about a year. There is still a property that is on the market for the same price and it has not and will not shift. I think until some buyers change their mentality (not you) but those who say some bloke with no professional qualifications says its worth this and someone will pay for it, it will only get worse. I have also heard of the EA over valuing by say £20k or £30k (depending on price bracket) knowing the buyers will knock them down by that amount. Trouble is buyers are getting wise to the tricks.

I think that the main problem here though is salary multiples and job security. Many are employed by the MOD and we all know they are going to have to cut back. Good luck getting a sale

Red x

tyllwyd

redlady_1 wrote: »

.... Many are employed by the MOD and we all know they are going to have to cut back. ...

Yes, I do wonder if that is hitting the market for family homes where we are in North Wiltshire.