How to find reduced house prices

des_cartes

http://www.propertysnake.co.uk/

This might have been posted before but you can enter the postcode where you are looking to buy and find out the prices that houses are being reduced by. Some have been reduced by over 50%!!

Running_Horse

des_cartes wrote: »

How to find reduced house prices

Walk into any estate agent in the country.

inforeq

Running_Horse wrote: »

Walk into any estate agent in the country.

theres nothing like stating the obvious.

A property, in an EA is usually reduced by a minimal amount, whereas the above mentioned website has properties reduced by much larger amounts. They are listed according to postcode so you dont have the hassles of trawling around EA and being added to their mailing lists.

jozbo

it's a good tool however just because something's dropped in price doesn't mean it's now 'reduced'. can still be priced above it's 'market value' after significant reduction if it was initially overpriced.

Running_Horse

Indeed. There is a house down the road from me that has been reduced twice since coming on the market. Still wouldn't pay anything near what the owners are asking.

It might make us feel good to brag we paid __% less than the asking price, but no point buying a cheap house you can't resell years later because it is a lemon in a bad area. It's people like that who then try to save a few quid avoiding estate agents, but end up virtually giving their bargain away to sharks.

All these Internet tools have their place, but there is nothing like getting to know a local area really well. And yes, walking into the local estate agent to find out about the distressed seller about to put their house on the market, and what they are likely to accept. No computer programme can do that.

sonastin

jozbo wrote: »

it's a good tool however just because something's dropped in price doesn't mean it's now 'reduced'. can still be priced above it's 'market value' after significant reduction if it was initially overpriced.

I thought "reduced" meant dropped in price?! "Reduced" doesn't mean "not overpriced" in my language...

kmmr

I am not a fan of looking for reduced propeties. It normally just means that a number of people have been through and rejected it for a variety of reasons, probably not due to price.

Focus on knowing what you think the right property should have, and what it should cost. I looked at about 40 properties last year, then the one I bought came on, and I offered almost full asking price the next day. Basically because I knew it was correctly priced, and I knew it had a lot of things that others in higher prices didn't. If you have done your research, you can see a well priced property, and know what to pay even if it isn't x% below the asking price.

Sometimes people do put properties on at reasonable prices that meet your needs!

Mustbeananswer??

Its a good tool.....I found a real bargain on mustbesold.com/ tho.

40% of the asking price....pre crash!!1