Moving Home - Zoopla Hurts!

DannyboyMidlands

Like I say, nobody has a crystal ball but that'd be my guesstimate. I have friends who have been waiting since 2008 for things to "return to normal" so that they can sell. They're still waiting and every year prices are lower than the year before. They even knocked back an offer of £4k under the £140k asking price back in 2009. And anyway, what is normal? Prior to the crunch my dog could have got a mortgage, it was that easy. The boom wasn't normal it was collective delusion.

nigelflack

Sounds unlikely that you're going to get the price you want for your flat just now.

Have you thought about renting your flat out and renting another place to live in? Looks like there's a 2 bed flat round the corner for £440, and a 1 bed advertised at £425. I doubt you're really able to rent an extra bedroom for just £15/month but in any event you should be able to get extra space for a pretty small sum - market rent for a 2 bed is probably not that much more than for a 1 bed.

And before anyone jumps in with the whole "renting is dead money" thing - if you're getting paid rent and paying out rent they basically cancel each other out. (Not to mention if renting is dead money what's interest to the bank?...)

Anyway, good luck working things out...

anxious_mum

I love your flat, I think it looks really nice. If I could offload two teenage boys I would buy it in a heartbeat! They wouldn't be able to come and lodge would they, which makes it look very appealing to me! Maybe I'm having a bad day, but I wish you good luck anyway.

zappahey

HJS86 wrote: »

Well we thought that because we'd managed to get it at £80,000 even though it was originally on for £106,000 that we'd been the lucky ones and had managed to buy it at the bottom of the market. But obviously we were only half way down the fall!

Is there a story about why everyone else in your post code seems to have paid £51k?

http://www.houseprices.co.uk/e.php?q=WS28AE

chambta

zappahey wrote: »

Is there a story about why everyone else in your post code seems to have paid £51k?

http://www.houseprices.co.uk/e.php?q=WS28AE

Job lot bought by investor?

brit1234

I think you have been ripped off, no other way to say it.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=POSTCODE^3850896&radius=0.25

http://www.houseprices.co.uk/e.php?q=WS28AE

Both links should send alarm bells.

Who did your initial survey and what cost did it come back at?

House prices will be falling for a few years and I think you will be lucky to get £60,000 at the moment.

Running_Horse

If you can rubbish your Zoopla valuation down, why not fiddle it back up?

Probably won't get you a buyer, but you would feel you were doing something.

I was in £20,000 negative equity in the 90s. It didn't go overnight, but gradually every year it seemed prices had risen another £10,000. Finally took £120,000 equity when we sold. If you can look long term, things do get better.

diable

You can start a family in a one bed flat as many have done and have managed it in the past it just takes a little/lot of planning.

HJS86

Hi all

Dannyboy- thanks for you're on going help.

anxious_mum - thanks very much for the compliment )

nigelflack - We have thought about renting but unfortunately this is not an option for us. I didn't mention earlier as it makes no difference to the sale price, but we have 51000 with Nationwide mortgage, and then the remaining 29000 was with the Governments My Choice Home Buy scheme which we intend to pay back in full with the sale, then the mortgage on our new property will be just mortgage. Anyways, it advises in the clauses that we are not able to rent the property out, else it would def be something to consider.

HJS86

zappahey, chambta is correct, the other flats were purchased as a job lot by Bromford Housing who now rent them out for approx 500 a month. Were the only one in the building who purchased.

I don't think we'd cope raising a baby in this apartment as much as we love it. I guess we're quite old fashioned, but both picture a little nursery with teddy bears etc rather than a crib pushed up against the wall as we can't get to the bed!! Ask again in 2 years if were still here...lol