3 weeks today...

cazuk11

The problem with our house is that there are only 8 semi detached ones in and around our road, everyone else is a terrace so I'm not really sure how to compare it?? We were the last ones to move in in 2005 so no one has sold recently.

We had 4 valuations, 2 said it's worth between £270,000 - £280,000 however we probably wouldn't get over £250,000 because of the stamp duty issue. One said he would market it at £320,000 :eek: and the one we went for said it should go for about £275,000 but it's worth more. I quoted fellow MSEiers and said the house is only worth what someone will pay for it. He said he'd want to put it on at £295,000 and we could then accept an offer at £275,000.

I'm new to this selling houses business and know our house is better than the terrace ones as there is off street parking, garage and land as a bonus (forget all the extra bits we've done inside). Surely that alone would make our house worth more?

I don't know what to do... should we wait and sell if and when the market picks up a little bit or just reduce the price now and move on. Unfortunately it's the best house on the street (which could be the problem as all the other houses sell for a lot less).

When I move I'm going to buy the worst house on the best street! As a buyer, I've seen over 40 houses and each one has been priced differently depending on qualities so why can't buyers for our house see that it is worth a little more than others?

tyllwyd

If you aren't in a rush to sell, and you aren't 100% sure of your valuation, I'd leave it a bit longer - I don't know about your area, but here the last three weeks have been absolutely dead, but now all of a sudden we've got two viewings in three days. We've been on the market for a year (!) and that's how its been, very patchy. Nothing for weeks, then times when you get several viewings quite close together, then nothing again. So I'd be reluctant to panic just because nothing has happened immediately, try to hold your nerve, but obviously keep an eye on things and be prepared to reduce the price if everything else around is dropping.

pawlala

cazuk11 wrote: »

I've personally not met anyway who has not enjoyed our air-conditioning over the hot summer spells we've had over the past few years.

In other words, all your friends are polite enough to wait until they've gone before muttering "What a waste of f***ing money that air-CON is"

thor

No offense to the op but there is no God given right for the house to be at any price. If it is not selling above 250K then reducing has to be an option unless they are in it for the long haul and even then there are no guarantees. Nobody knows when prices will return to pre-recession levels or even return at all since there are no fundamentals for housing.
Anyone buying a 2nd property is almost certainly gambling in the same manner as investing in stocks and shares. Sentiment rules.