Worried about overpaying for a house! Is zoopla accurate?!

DannyboyMidlands

WelshNic wrote: »

Zoopla really is a waste of time in the accuracy stakes. Best you can do is look at like for like/sold prices and use some common sense taking in to account how long property has been up for sale etc.

It's all well and good people telling you to offer low but without knowing the seller's circumstances you simply cannot make those sort of blanket statements. There are plenty of obvious repos on the market and you can always afford to be cheeky in those cases but if a buyer doesn't necessarily need to move you'd most probably get laughed at.

I'm going to take a guess that the seller in this case is looking for close to asking price/considers it priced realistically - it's *just* priced enough above the 250k to make me think that but that's just IMO.

But who goes rushing around there within a week and then throwing down near asking price offers? I wouldn't buy a 2 grand second hand car in that manner let alone a 200 grand house. You need to play it cool or at least give the impression that you can take it or leave it.

WelshNic

DannyboyMidlands wrote: »

But who goes rushing around there within a week and then throwing down near asking price offers? I wouldn't buy a 2 grand second hand car in that manner let alone a 200 grand house. You need to play it cool or at least give the impression that you can take it or leave it.

There are way too many factors involved to be able to apply your rules to all properties. Plenty of villages where property rarely comes available, school catchment areas etc. Each property can only be taken on their own merit, what applies to one may not apply to the other.

Life just isn't that simple unfortunately.

googler

If you're buying, all that matters is;

What you want to pay
What the stamp duty thresholds are
What your lender's surveyor values the property at.

No-one whose opinion matters (specifically the surveyor) will pay a blind bit of notice to a Zoopla estimate.

adam1982

googler wrote: »

If you're buying, all that matters is;

What you want to pay
What the stamp duty thresholds are
What your lender's surveyor values the property at.

No-one whose opinion matters (specifically the surveyor) will pay a blind bit of notice to a Zoopla estimate.

I know what you're saying.

We could afford to pay the asking price but we also know that if prices have fallen as much as people keep saying then its not in our interest to do that.

Most people are saying at least 10% drop which would be £268k.

Doozergirl

I don't live all that far away and where I am, £200 per square foot is usual. What's odd about where you're looking is that the prices are cheaper per square foot for the smaller properties but then suddenly jump to much more expensive once you get into 4 bed detached territory. That one is £240 per square foot. There's a total dirth of properties in the £200-250k range. What's getting the 'executive' house hunters excited there that they're paying more for space in the same village?

adam1982

Doozergirl wrote: »

I don't live all that far away and where I am, £200 per square foot is usual. What's odd about where you're looking is that the prices are cheaper per square foot for the smaller properties but then suddenly jump to much more expensive once you get into 4 bed detached territory. That one is £240 per square foot. There's a total dirth of properties in the £200-250k range. What's getting the 'executive' house hunters excited there that they're paying more for space in the same village?

Well ive lived in Wombourne all my life and know from experience that prices can vary a lot from street to street. Everyone knows the nice little areas and i guess they pay whatever it costs to live there.

i find that when we seriously started looking for a new place we origionally wanted to spend 200-250k. We soon realised that we werent going to get what we wanted but if we went into the 250-320 price barrier there was a load more choice and bigger houses.