Advice on selling

vodkagirl001

brainiac44 wrote:

house prices cannot keep rising over the governments inflation rate forever. they can rise 15% in a boom year or two, but if WAGES do not follow - the prices have to come down.

no amout of 5x salary mortgages can help the situation.

stop looking for another reason to explain the non sale of this flat. if it were the right price and the market was strong as you suggest - it would have sold - simple as that.

why this seller thinks she is entitled to some huge profit (around 1 years average real salary) for doing nothing but living in it for a couple of years.

anyway, dont let me put you off.

enjoy your reality !!!!
-this flat will not sell at that price.

you are obviously a bit thick yourself mate, 17k Over budget????????? That would mean I should have it on the market for £96500 which is less than I paid for it...............hmmmm let me try and figure that one out for a minute cause I did not realise that prices had dropped over the last 2 years???

Its up for £113500 with a view that obviously people will put in offers round there as no one comes straight i at full asking price when buying a house in reality so I don't see your point? Round her the prices have risen that much in the past 2 years, there are various properties on the market now (houses) that we looked at when buying, which are back on the market for £20k more now than when we went to look at them and yes they are selling, you seem to be taking the ''generalised'' view of increases (or decreases as you seem to have worked out) accross the country, not the individual area's that are rising at different rates!

I agree with Aunti Brenda, and will offer you for your house exactly what you purchased it for and a 3% interest rise if thats what your views are?

Lynzpower> They don't really give that much good feedback tbh, i said earlier that I think there just sending anyone round and I really think they were as about 3/4 of the viewers, told me when they were looking at it they were expecting a 2 bedroom. Then the feedback was ''its a little small for them with only one bedroom as they really need two beds'' We did have one girl who came for 2nd viewing and see loved it, but hadnt even had an AIP for a mortgage, when she tried for it, they said she didnt earn enough to get a mortgage for what she needed, she told the estate agents, she would have to save up for months to get a deposit for any house as she didnt realise she wouldnt beable to get a mortgage (silly person).

The old EA's finished today and the new ones should start in a week or so, so i'm sure all will be well for that.

(oh and the apt on GF that is up for £110k he only paid 89k for it because of the GF status etc so I dont think we are being greedy, but he is lol)

brainiac44

Round her the prices have risen that much in the past 2 years, there are various properties on the market now (houses) that we looked at when buying, which are back on the market for £20k more now than when we went to look at them and yes they are selling.

ok. 113k is getting close to reality. 105k is the actual current value, but bear in mind you yourself paid too much for it, and so when prices begin to re-align, you might find the same in 2010 for around the 80k mark. possibly less.

as regards to the comments above. i disagree.
not much is selling and hasnt done for a 6 months +.

a lot of on and off going on. a 2 bed near me has been woefully on the market for 2 years at 120k. despite advice to lower, the seller is now getting into difficulty it being an investment. however, every time hes approached to lower he quotes what friends have seen on tv, and thats prices are rising !!

its like getting through to a dead duck. still, its his money. theres only so much concern you can have, but i believe strongly this time next year he wont even break 100k. flats in this ordinary NW town are really struggling. and i mean really struggling.

vodkagirl001

how do you know its value is £105k then?

Can you explain how some smaller apts have just sold for £107 and £109 in the past few weeks and how all the new builds are selling quite easily STARTING at £130k the?

Properties round here in the streets im looking at have been selling quickly and like I say for up to 20k more than houses on the same streets 2 years ago when we looked, Im constantly seeing houses I like then a few weeks later there sold - not very slow round here in the particular streets im looking at tbh

TTMCMschine

houses are not flats vodka girl. Different market, different buyers.

if the market is buoyant how come yours isn't selling?

if the markets buoyant & your flat won't sell then it has to be either a) overpriced, or b) there are more flats than buyers

In either case it means the price comes down.

PosterBoy77

vodkagirl001 wrote:

how do you know its value is £105k then?

Can you explain how some smaller apts have just sold for £107 and £109 in the past few weeks and how all the new builds are selling quite easily STARTING at £130k the?

Properties round here in the streets im looking at have been selling quickly and like I say for up to 20k more than houses on the same streets 2 years ago when we looked, Im constantly seeing houses I like then a few weeks later there sold - not very slow round here in the particular streets im looking at tbh

New build properties often sell for the same reason as new cars. People simply want something new, even if it is not financially sensible.

Also, you cannot compare flats with houses. You say there are new flats around your area, but how many new houses are there? It may be that people buying flats are buying new ones at the moment. It is also the fact that a large proportion of flat purchasers are BTL speculators, and they like new flats as they can let them straight out. They may get cashback and/or a good discount. It may be that builders of flats are selling their new flats after negotiation for what you want for your old one.

House buyers on the other hand may not have as much choice which brings more demand for each property.

If you have not had any offers for your flat the chances are there is not the demand that you think there is. No amount of newspaper hype will change the actual market in your area. Also, every area in the UK has a different local maket. You cannot compare your flat with price increases of penthouses in the city of London.

vodkagirl001

TTMCMschine wrote:

houses are not flats vodka girl. Different market, different buyers.

if the market is buoyant how come yours isn't selling?

if the markets buoyant & your flat won't sell then it has to be either a) overpriced, or b) there are more flats than buyers

In either case it means the price comes down.

I know its a different market I was trying to point out to the poster who stated that property prices in the area had not increased a great deal - that infact they have - the OP who wrote that was saying property prices in general so I was saying that property prices in general HAVE increased in the area, that is the only point I was trying to make with regards to that.

If the market is buoyant how come mine isnt selling, well for a start, there are many reason which people have pointed out in the thread, namley the crap pictures, layout of the rooms etc. The layout has been changed and and is ready for the new EA's pictures, the EA we used was crap - does this not count for anything either?? As clearly pointed out by many posters, crap description, crap pictures, they were not working for there money (for gods sake they even sent round someone who was looking for a rental property - thats when we decided we had to bin them off) so there are a few reasons right there - alot of selling things wether it be a new beer that comes out down the pub to a car to a house is marketing, if thats all crap you wont get the interest! My partner even bumped in to an old friend at the weekend who had just purchased one of the apts you posted originall for £109k, he said you could have had ours for £110k and said who it was up with, the girl said she had rung that particular EA's a few times and asked if they had any 1 bed apts in the area for under £120k and they always said no, so we know they were not marketing it properly!

It is currently off the market as the original EAs ended on Monday and we have not instructed the new EA's yet as were waiting for the builders to finish so we can get some better external shots accross the canal etc will be put up at the new price and hopefull since these are established EA's and seem to actually know what they are doing we will have some interest.

mikael wrote:

You cannot compare your flat with price increases of penthouses in the city of London.

I am not and have never done this, infact if you read further up the page you will see where I have pointed out to a poster that he should not be basing rises (or non rises) accross the country as a whole but based on the individual areas.

vodkagirl001

TTMCMschine wrote:

houses are not flats vodka girl. Different market, different buyers.

if the market is buoyant how come yours isn't selling?

if the markets buoyant & your flat won't sell then it has to be either a) overpriced, or b) there are more flats than buyers

In either case it means the price comes down.

I know its a different market I was trying to point out to the poster who stated that property prices in the area had not increased a great deal - that infact they have - the OP who wrote that was saying property prices in general so I was saying that property prices in general HAVE increased in the area, that is the only point I was trying to make with regards to that.

If the market is buoyant how come mine isnt selling, well for a start, there are many reason which people have pointed out in the thread, namley the crap pictures, layout of the rooms etc. The layout has been changed and and is ready for the new EA's pictures, the EA we used was crap - does this not count for anything either?? As clearly pointed out by many posters, crap description, crap pictures, they were not working for there money (for gods sake they even sent round someone who was looking for a rental property - thats when we decided we had to bin them off) so there are a few reasons right there - alot of selling things wether it be a new beer that comes out down the pub to a car to a house is marketing, if thats all crap you wont get the interest! My partner even bumped in to an old friend at the weekend who had just purchased one of the apts you posted originall for £109k, he said you could have had ours for £110k and said who it was up with, the girl said she had rung that particular EA's a few times and asked if they had any 1 bed apts in the area for under £120k and they always said no, so we know they were not marketing it properly!

It is currently off the market as the original EAs ended on Monday and we have not instructed the new EA's yet as were waiting for the builders to finish so we can get some better external shots accross the canal etc will be put up at the new price and hopefull since these are established EA's and seem to actually know what they are doing we will have some interest.

mikael wrote:

You cannot compare your flat with price increases of penthouses in the city of London.

I am not and have never done this, infact if you read further up the page you will see where I have pointed out to a poster that he should not be basing rises (or non rises) accross the country as a whole but based on the individual areas.

PosterBoy77

You don't need to convince me - you only need to convice one buyer that you have the right price! Now you have a good agent, you should be able to post here in a week's time that you have sold.

Doozergirl

mikael wrote:

you should be able to post here in a week's time that you have sold.

The flat is not even on the market at the moment!

The OP deserves at least the courtesy of having her posts read before they are replied to

benood

Is it me or do some posters think this is really just another house price crash thread?? :rolleyes: The OP only wants some unbiased advice, I'm sure the EA isn't completely off on the value they think they can achieve.