How much to put house on sale for?

ekoner

Hi

Long term lurker and now decided to sell my house! I could do with some help working out these sums.

I have a 3-bed in the BL6 area. My street is a mix of 2 and 3 bed ex-HA houses. The last house to sell on my street was a 2 bed for £77k sold 22/10/2010. There are currently 2 x 3 beds for sale at £75k reduced from £84.5K and another at £69,950 (repo'd) and under offer for £73k.

Now, the repo'd house is in a better state but the other property hasn't been redecorated for...ages. The right move property #'s are 26725414 & 28325491 since I can't post links yet.

My property has been renovated & redecorated recently, new kitchen, bathroom, carpets etc, has a conservatory and downstairs toilet which I think the others don't and is in good condition.

4 estate agents have given a range of £104k to £110k. Zoopla is coming in at £118k and mouseprice at £110k.

I'm inclined to put it up in Jan 2011 at £99,950, wondering if this is realistic?

TIA :T

BitterAndTwisted

Whatever you think someone else would be prepared to pay for it! There's no mathematical formula available to make the calculations for you.

ekoner

I'm asking because there is so much variance in the figures available, guess it must just be a finger in the air sort of decision then!

hazyjo

See the other ongoing thread about zoopla valuations (wildly inaccurate)! Can't speak for mouseprice but really wouldn't take anything as gospel from an internet guestimator! Just test the market - but don't expect much in the way of viewings before January. I'd not bother dropping the price between now and Jan if you don't get viewings. All you can do is value it at the moment, it won't guarantee it's worth that. Try £100k and see if anyone views (prob in Jan). If nothing, go down to £193k or something and take it from there. tbh, if people are looking on rightmove, you'll be getting the same 'bracket' of people if you tried those two prices. I'd go for £100k on the dot or, if you do £99,950, you'll get the same people in that £90k-100k bracket on rightmove. There just might be someone who's set their viewing bracket for up to £100k, or for just over £100k. You want to get in both brackets. Can't really see that someone would start their search at £100k, but there are some strange bods out there

Jx

ekoner

Ah excellent suggestion hazyjo thank you! I didn't even consider the price bracket aspect

rilou81

Its hard at the moment, I am M28 not that far from you, I assume you are Bolton?
House prices on my street and the next one range from £115'000 to £85'000 for a very run down house, but still a lot higher than the ones on yours. Mine is on at £109'950 and also has new carpets, brand new kitchen, bolier, off street private parking....list goes on. I was told to put it on at £115'000 but decided against it, the EA said we's have no prob selling. Its been on since beggining of Nov and we have not had a single viewing. We will reduce it in Jan.
I hope its better for you but though you may like an example from an area not that far away, good luck xx

ekoner

Thanks rilou81. You are very close to me indeed. Sorry to hear you haven't had any viewings, hopefully things will pick up in the new year, touch wood.

Jackinbox99

Heres my experience as a seller, although in a different area.

In my street, one house sold 2 months back for 145k - needing total renovation, and another one sold for 175k all renovated and done up nicely.

My house, totally renovated, has much bigger garage than the 175k one, brand new kitchen, bathroom, carpets, replastered, redecorated, garden is twice the size, and its in a slightly better location. 3 seperate Estate agents valued it at 170->175k.

Im actually getting offers of 145->155k, the same as the one which needed total renovation went for just 8 weeks back. The feedback im getting from the estate agents now is that any work you do to the house, like new kitchen, bathroom, carpets, flooring, landscaping or even building a garage makes it worth no more than a house which hasnt got any of that.

So based upon that, given your example of houses in your area, your saying a 3bed needing some work is worth 70->75k, so unfortunately id say thats what yours will probably be worth.