been told to lower price?

System

Babymerlin wrote: »

The thing is we need a little bit of profit to be able to buy a new house (we are downsizing!) so lowering again means there will be no point moving as we wont have the 10% deposit that we need.

Doesn't matter what the EA says, you can't sell it cheaper or it will be pointless. You're the classic non-distressed seller that I've been describing, or what the bears might call "deluded" or "greedy", when in fact you're just doing what's right for you.

shortchanged_2

House buying and selling isn't really a complicated process.

It really has to be thought of as two things. 1) What someone is willing to pay for a house, and 2) What someone is willing to sell the house for.

Unless these two factors can be met then there will be no house sale.

It can be affected by various conditions such as a strong or weak housing market or a lack of give and take by seller and buyer.

However it isn't rocket science and a house will sell in general if it appropriately priced. Unfortunately that may not always be a price that the seller is happy to accept.

paul1964_2

Babymerlin wrote: »

there will be no point moving as we wont have the 10% deposit that we need.

Have you spoken to your mortgage provider? They may be able to help you transfer your mortgage to a smaller property.

nearlynew

shortchanged wrote: »

House buying and selling isn't really a complicated process.

It really has to be thought of as two things. 1) What someone is willing to pay for a house, and 2) What someone is willing to sell the house for.

Unless these two factors can be met then there will be no house sale.

It can be affected by various conditions such as a strong or weak housing market or a lack of give and take by seller and buyer.

However it isn't rocket science and a house will sell in general if it appropriately priced. Unfortunately that may not always be a price that the seller is happy to accept.

When easy finance is available, people will just pay what they're asked and what they can borrow.

Value and judgement goes out of the window.

So 1) in your post becomes "what I can borrow"

and 2) becomes "I can sell for that and still move"

This thinking is fuelled by expectation of HPI.



The market became distorted by cheap and easy money and hopefully will now correct to more reasonable levels.

Graham_Devon

Joeskeppi wrote: »

Doesn't matter what the EA says, you can't sell it cheaper or it will be pointless. You're the classic non-distressed seller that I've been describing, or what the bears might call "deluded" or "greedy", when in fact you're just doing what's right for you.

Depends how you look at it.

They obviously want to move, so not moving isn't really right for them.

FATBALLZ

Estate agents have to pay to advertise your house, if it's on at a price nobody wants to pay they are wasting their time and money marketing it. They want properties on their books that they can sell. I've known a couple of people recently be told to do one by their EAs because they were sick of wasting resources marketing their overpriced properties.

stringsmk2

Graham_Devon wrote: »

Depends how you look at it.

They obviously want to move, so not moving isn't really right for them.

yes, but they dont have to move

System

Graham_Devon wrote: »

Depends how you look at it.

They obviously want to move, so not moving isn't really right for them.

Yet nevertheless preferable to selling and finding you can't afford the next place

RenovationMan

or selling for a loss.

Percy1983

As a general rule if your home has dropped in value has the home you wish to move to also dropped?

As mentioned if the sums just don't add up then stay where you are, as you mention downsizing I am sure its better to have too much room than not enough.