Realistically what is your house worth now

ognum

Thanks for all the interesting replies to this It appears on this thread that there is a lot of realism about the value of homes but maybe this is not a representative sample!

sugarwalsh

I think Money Juggler hits the nail on the head when they say that their house is overpriced because the ones further up the ladder are refusing to lower the price. Well, I suspect a lot of it has to do with the EA's not wanting to lower the prices.

In our aread I have seen a lot of movement at the lower end of the market, sold signs popping up everywhere, a significant number seem to be repo's. There doesn't seem to be much gong on further u the ladder though as the gap between actual sold prices lower down and the asking price for the net step seems to be getting bigge. I suppose the people further upo may have bought at peak and aren't prepared to drop the prices.

Megan

nollag2006

sugarwalsh wrote: »

In our aread I have seen a lot of movement at the lower end of the market, sold signs popping up everywhere, a significant number seem to be repo's. There doesn't seem to be much gong on further u the ladder though as the gap between actual sold prices lower down and the asking price for the net step seems to be getting bigge.

Could that be BTL activity?

I know my own small BTL portfolio has risen a lot more than my main residence.

sugarwalsh

It must be as the people who owned the houses must be going somewhere and it doesn't appear they are moving upwards! The prices have dropped lower down, the mid-range prices (Ours is mid range) seem to sell without the reduction, but they aren't selling at the same ate, from what I can see from looking at the market. There are still too many mid range people looking for too much for their house.

If I had the money to purchase a BTL then I certainly would be conisdering it!

Megan

Brallaqueen

Just went to check, and it looks like a 1 bed flat in my street sold for 5k less than I paid for my 2 bed. I'm taking this as a positive sign that I did not over pay too much!

FATBALLZ

Only bought 3 months ago, but very limited activity in my area so I suspect if I had to sell it in a hurry I'd have to take a small loss of maybe up to £5k.