Reducing house price

HotShot2011

Thanks for the comments.

I've managed to speak to the EA re. pricing and he thinks it is too early to reduce our price as yet, suggesting we give it another 2 or 3 weeks at the current price. I'm tempted to agree as we are not desperate to sell (but would very much like to).

We have the advantage of being en route to the other property, so viewers are going to see ours too. In terms of location, we're on a residential street that loops from a village road and back on to it, so we're not on a busy road. The other house is in a cul-de-sac and opposite a playpark. The latter would not be good for us (for example), as my OH works shifts and often needs to sleep during the day, but I can see how it would appeal to others, including the absence of through traffic. All swings and roundabouts I realise, and it's very much a question of finding the right buyer at the right time for each respective house - the optimist in me hopes that the right people come along for both of us soon

Our only viewers to date loved our house but found the garden too small as they are keen gardeners - we're not, so it was a plus point for us when buying ... I suppose we'll have to see how it goes for a couple of weeks with a view to reducing if no interest.

Orpheo

tyllwyd wrote: »

But sorry to have touched such a nerve with you, I didn't realise you were so sensitive.

Oh yes. I'm a delicate petal.

geoffky

Stay ahead of the market because the economy is in a right mess and i feel its going to be a very dark winter..You could end up chasing the market down...

spandles

Opposite a playpark? I'm not surprised its 15K cheaper than yours. I wouldn't even consider it.

Other things that influence me: does the back garden get the sun; what are the neighbouring house like (ie maintained);do the neighbours have hot-tubs (sorry to offend anyone:o).

The family down the road from us have a boy-racer son who tinkers with his wreck all day, and people near my in-laws own an icecream van which is always parked in the driveway. I know I sound very snobbish but i think you have to think further than your own front door when comparing yours to the other property.

paulsad

Like I said before someone jumped all over me - bit early - if I were in a position to view; in this market I would view yours as well. If I liked yours better I'd offer and then it'd be up to you.

GDB2222

HotShot2011 wrote: »

Hi,
Ours is on the market at £245K and the other at £230 ... identical original design. Looks like the other one may have a nicer conservatory. Mine is on a through avenue, the other is in a nearby close ... of course I don't know what the interior decoration is like (ours is excellent), whether the vendor needs to sell very quickly, etc. However, I do take the point that anyone interested in the other is likely to look at ours too and maybe make a comparable offer (a viewer would have to drive past our house to get to the other one). I was advised when putting it on the market that I should expect to get at least £235K but maybe more depending on the buyer.

It's clearly out of the question that you will get over £230k, so it's just a question of what you can reasonably get. You haven't said what other comparables have actually sold for, and that's absolutely crucial info.

GDB2222

womble12345 wrote: »

Oh and if you EA said market at 245k and expect over 235k bear in mind that was said to you before you signed the contract. I was told to put mind on at 220k and I would get 215k, in the end I got 197k. I very much doubt that anyone gets the value that the EA says they expect them to get.

That's so good it bears repeating.

silvercar

If I was looking at the other one, I would also look at yours to see what extra I get for a further 15k. When I realise that there is nothing extra I would walk away, considering yours to be overpriced. If your EA said you would accept a lower offer, I would first see how low an offer the other people would accept as in my mind you are setting your price to indicate you want more than the other one. Now if I thought your home was my dream home I might indicate that I would be prepared to make an offer if the asking price was lower.