Advice on selling - 2 others on road also on market

FATBALLZ

We viewed 3 houses on the same road, but just because they were on the same road doesn't mean they are worth the same amount. The first was listed at £145k, but I'd value it at more like £95k (badly maintained and had slug trails in it), the second was on for £140k, but I'd have valued it more like £110k (reminded me of a flat I lived in as a student), and the third was also on for £140k and we offered £122k and then £126k on that. Although looking back £126k was too much, so I'm glad they rejected it.

celyn90

Do you have to sell quickly though? A work collegue of mine has just sold her house and her neighbour had also wanted to sell - but knew she wouldn't until she had sold as she wanted a higher price.

I had been watching a couple on rightmove in the same road and they seemed to be undercutting each other by just a little bit for ages. The one we are buying is one of three up for sale in the same road too - one side of a semi where the other side is also up for sale and one a few doors down. One is 2-bed and needs gutting and the side of it buts onto a passageway into a park (it is graffitied up the side), one of the semis is immaculate and extended, the other is a wreak (more than I expected now I have the survey back lol!). We had just wondered why so many had come up in one go in the same road when we looked at these three - it turned out each was a very specific unrelated reason, but we still had to dig around to make absolutely sure. cel x

Davesnave

andidb wrote: »

It's difficult bringing the price down as we bought it for £167 and have spent a fortune on it, together with alot of blood sweat and tears! We were hoping for £165-£167 so if we bring asking price down to £167,500, £165,000 or even £162,500 we obviously have no chance of getting what we had hoped for.

If house prices had continued to rise, many who chose to invest in their property would have had no problem, or at least they think that. They tend to forget the frenetic pace of the market when it hit peak, or how large the gap was between the different categories of houses.

Anyway, prices fell, so those selling now either get their heads around that, or simply hope to get lucky. Beyond certain high demand areas, the chance of getting lucky now is pretty low.

We sold during the Crash, so some of the money we'd 'invested' and expected back, failed to materialise. At first it was scary and annoying, but then we began to realise that a slower-paced market actually suited us and, with a bit of lateral thinking, we saw that there were still opportunities. Eventually, we were able to grab one of those.

I'm not saying that someone in negative equity could benefit as we did, only that different circumstances demanded a different approach. There was actually a gap of 9 months between us selling and buying again, and it could easily have been longer. Going rented and being flexible about area were things we'd not considered before.

Even in the natural world, when circumstances change, organisms that can react to that and adapt their behaviour, are those that survive best.

womble12345

andidb wrote: »

Thanks so much for all the suggestions and advice! In answer to a couple of the questions, we are a town in the South West. Ours is a 3 bed house and could be a 1st or 2nd time buyers purchase. We put it on the market 2 weeks ago and have only had 1 viewer so far - the estate agent says that's due to the bank holidays and people being away as it was in the paper the day before Good Friday, and then again the day before the Royal Wedding.
!

What keen buyer waits for the paper to come out these days? Maybe they do in the sleepy south-west but I somehow doubt it. Most of my viewers came from Rightmove and people who rung up my EA about another property that they saw on rightmove and my EA suggested they also view mine. Hopefully your EA will get a few calls today from people who saw it on rightmove over the weekend.

andidb

We do need to sell as we have an offer in on another property - and the vendor of that one has said that we have to exchange in 6 weeks, with a view to completing in July. We have managed to borrow the money so that we can afford to have both for a short period of time but we will be very very stretched so we naturally want to sell asap.

Any other thoughts on pricing or what we could ask the estate agent to do?

kr15snw

Im very tempted to say...

Are they on right move? Can we have the link for yours and the others? That way we can express an opinion on the actual property

zara*elise

OP, can you post rightmove links for all three properties without telling us which one is yours? Maybe then we can have a look at the one that we'd be most interested in and offer advice from there.

andidb

Thanks so much for all of your help.

Here are the links to two of the houses - the third one, which is identical in layout to ours, is having it's photos taken today so isn't on Rightmove yet.

http://www.rightmove.co.uk/property-for-sale/property-29751892.html

http://www.rightmove.co.uk/property-for-sale/property-33398384.html

Key thing to note is that one is a 2 bed with bathroom upstairs, and one is 3 bed with downstairs bathroom.

Thanks again!

pimento

If your garden faces south or west (and the others' don't) big it up.

WelshNic

3 bed obviously wins over 2 bed but you need more photos!