A frustrating spell coming to an end!!!!!

RedfordML

Got 3 weeks left on our EA contract then taking our property off the market!!!

In the weeks we have been on we have a a few nibbles/viewings, a couple of no shows and overall, just frustration and mis guided hope of achieving a price (what we need to achieve to move on) that in the current market we will not get, thanks EA!!!

Got a short and long term plan. For now, get a new job/career and then wait 2 years, (build up the savings, currently have 7.5k in the pot and aim to get to 20k) then we will be in a much better £££ position and hope for a small rise on current housing prices so we are able to move forward how we would like!!!

Thanks for all the advice I have recieved on here but the current market place is not for us and it's time to change plans...

dopester

RedfordML wrote: »

Got a short and long term plan. For now, get a new job/career and then wait 2 years, (build up the savings, currently have 7.5k in the pot and aim to get to 20k) then we will be in a much better £££ position and hope for a small rise on current housing prices so we are able to move forward how we would like!!!

Are you wanting to downsize, or at least buy a cheaper house?

Or hoping to upsize, to a better, more expensive, property?

paul97_2

We have about the same left on our contract, but are undecided what to do? We have had two offers one can't get a mortgage with 20% deposit, but the other couple have their house on the market so don't know if we should take it off the market.

Good Luck with your plan.

We are downsizing and will not end up with a fortune as most people seem to think just about to enough to buy outright after paying what is left on the mortgage, even after making OP in lump sums and monthly. Now have to decide whether to pay off mortgage with savings (but won't leave a lot) and start saving and seeing how things are in spring.

RedfordML

We are 'downsizing' in the fact that we are/were looking to port our current mortgage onto another property, taking 10% off our mortgage without penalty - moving to Norfolk where you get more for your money!!!

The problem we have is we have only a small pot of savings and can't get the deposit unless we are able to get a buyer who offers a certain % of the asking price (95%), which may/maynot be ambitious!!

Typically got a phone call late last night, viewing @ 10am today (wonder if it will be another no show)!! Maybe I should start this kind of thread more often!!

Good luck with your plans!!

Henry_P_Chester

Prices will be even lower by two years. Most analysts are saying falls for the rest of this year with another 10% off in 2011 and further falls after that. Personally I think that's optimistic. most likely the amount you save over that time will be eclipsed by falls on the value of your house.

This is excellent news if your upsizing as it makes the move cheaper but for downsizers it makes it more expensive so you should sell ASAP. Possibly look to renting for a year while you save?

myhouse_2

It's the market that decides the price, not the vendor - no matter how good your plans are. You're complaining you can't get the price you need to move on, and complaining about the EA giving false hope - maybe your house simply isn't worth what you need to move on.

geoffky

Hoping some mug to come along and bail you out has been so many peoples plans...they mostly have had their eyes wiped..One couple i know thought they could sell for what they thought to be able to wipe 30k of credit card debt and a emmigration to canada.They are still here three years later and god only knows what is going on whith the debt but the visas have all run out as they never went over to validate them..prices to rise in a few years??? i think you will be disapointed then..

paul97_2

some not very nice people replying here, most people are not trying to take other peoples eyes out. As a seller and a buyer I am not trying to have other people sort out my life financially. I have already had two offers and just tonight another viewer who is going to see a mortgage broker tomorrow, so from that I would assume that my house is priced about right (not overpriced as you seem to assume). We are not in debt and have savings so your comments are not really welcome.

tawse57

Waht do you mean RedfordML? That the EA convinced you your house was worth X and then you now believe it is worth much less than the EA valuation?