My house has been on the market for a month and i have no viewing.

dazleeds1978

ChopperST wrote: »

Now why would a building society website show that houses are worth more than they actually are? What motive could they have for doing that? Property is not the cash cow it once was Daz due to over indebtedness from the crazy years and a correction of house prices which at the very best will stagnate at current levels for many years to come. Low wages and high inflation over the last few years has led to people tightening their belts and people wont pay over the odds.

Until everybody realises this then the housing market continues to stagnate as it is. People cant get on the ladder for high prices, people cant move up the ladder as they have their equity trapped in a house they think is worth more than it is. If everybody got real then the housing market would pick up which would aid the economy no end...

To be honest the houses can come down to value cost of building the house. for example i have just changed my insurance on the house. and they said the cost to re-build the house is 80k. I agree with new build houses and flats they are valued much more than they should be. But if i am first time buyer i would rather invest 500 pound in mortgage not to rent for 500 pound.

dazleeds1978

brit1234 wrote: »

Rightmove shows 8 pages of 2 bed houses priced cheaper, most far cheaper. There are a lot for £50-£60k compared to your £98k. So I doubt you would get either the Buy to Let or FTB crowd.

It's your right to rent it out instead if you have the 25% equity for the buy to let mortgage and the rest of the equity can be used for your new deposit say 25%.

Have you 50% in equity?

Sorry to be harsh but I believe you need to be more realistic, the property market is only going to get worse from here on in.

I dont think it will get that worse. it is been like for 4 years. they will come down bit more but in 10 years time they will go up again. they must because as i said to build them it cost more. so they can not drop down less than to build them.

dazleeds1978

brit1234 wrote: »

Rightmove shows 8 pages of 2 bed houses priced cheaper, most far cheaper. There are a lot for £50-£60k compared to your £98k. So I doubt you would get either the Buy to Let or FTB crowd.

It's your right to rent it out instead if you have the 25% equity for the buy to let mortgage and the rest of the equity can be used for your new deposit say 25%.

Have you 50% in equity?

Sorry to be harsh but I believe you need to be more realistic, the property market is only going to get worse from here on in.

There are two houses in my road let for 500 pound been renting for 3 years already. is very nice place and quite closed road.

The state agent said it will rent within 2 weeks time.

ChopperST

dazleeds1978 wrote: »

I dont think it will get that worse. it is been like for 4 years.

Do you watch the news?

they will come down bit more but in 10 years time they will go up again.

Not certain

they must because as i said to build them it cost more. so they can not drop down less than to build them.

Yes it can - look at Ireland and Spain

Daz again it sounds like people are being harsh but house prices will not go up at anything like the last 10 years. You are using terms like "they must go up" property long term is a sound investment but you have to remember that any investment can go up as well as down. Property sadly is in a slump and will be for many more years to come. You either lower your price or work hard at decreasing your LTV so you can rent your exisiting property and again save for a deposit on a new one.

You seem to keep posting your argument again and again and are unwilling to listen to the consensus opinion...

brit1234

dazleeds1978 wrote: »

There are two houses in my road let for 500 pound been renting for 3 years already. is very nice place and quite closed road.

The state agent said it will rent within 2 weeks time.

Have you then got the 25% equity and the buy to let mortgage in place?

Where will you live whilst it is rented out?

dazleeds1978

ChopperST wrote: »

Daz again it sounds like people are being harsh but house prices will not go up at anything like the last 10 years. You are using terms like "they must go up" property long term is a sound investment but you have to remember that any investment can go up as well as down. Property sadly is in a slump and will be for many more years to come. You either lower your price or work hard at decreasing your LTV so you can rent your exisiting property and again save for a deposit on a new one.

You seem to keep posting your argument again and again and are unwilling to listen to the consensus opinion...

You are right there is no reason i keep saying the same thing because i am not willing to reduce the house anymore because i know the area where i live and i know the house is nice. I think i will wait for few years save some money and rent the house. Sorry if i posted the same thing again and again :-)

dazleeds1978

brit1234 wrote: »

Have you then got the 25% equity and the buy to let mortgage in place?

Where will you live whilst it is rented out?

As i said i will wait for 2 years save more money buy the next house and rent this one out at least in 20 years time i will have two houses :-)

bazzyb

dazleeds1978 wrote: »

The state agent said it will rent within 2 weeks time.

The same agent who told you it would sell for £105k?

I agree that it probably has better chance of being snapped up for rent, but you should have already learnt to take what they say with a pinch of salt. It could get sorted within 2 weeks, but if they are finding you the best tenants and doing things properly it could take a little longer than 2 weeks.

getmore4less

dazleeds1978 wrote: »

I dont think it will get that worse. it is been like for 4 years. they will come down bit more but in 10 years time they will go up again. they must because as i said to build them it cost more. so they can not drop down less than to build them.

Building cost ONLY set the price for newly built houses. When the priced drop below that cost they STOP building them and build something else.

Thats why in boom the builds get smaller in the downturn they go back to bigger and more social housing that is subsidised.

It probably costs a builder about £30k each to knock up a row of 2up 2downs. Remember on most houses this would be small extention

Foot print is small so the land is not worth much either.

If houses can't sell below building costs then explain this.

I can buy a house for £1 and get a £30k interest free loan with it.

http://www.dailymail.co.uk/news/article-2184334/Empty-houses-sale-1-Britains-cheapest-street.html?ito=feeds-newsxml


I think you need to stop deluding yourself, you can find as much information that says your place is worth £98k but the place has not sold for £98k so it is not worth £98k(today or probably tomorow).

If you want to move you need a change in stratagy

Seanymph

If you give things away you can always get rid of them - but if you want to sell something it has to be attractive.

I personally don't mind the first picture - but there are at least four bins down the side of your house, so I'd worry that it was an alleyway used by everyone for their rubbish - The dining table squished in the corner doesn't appeal to me, I don't like downlighters and it looks like there is just one big room, not something I'd choose, and the picture makes the ceiling look really low.

The double bedroom looks very small - no doubt the wardrobe does that, but there doesn't appear to be room to walk around the bed.

I think the bathroom picture would be better if he'd gone in and shut the door - but like someone else said, you would be hitting your knees on the bath if you used the toilet - it's very strange layout.

The living room from the other end doesn't appeal to me either - very dark floor (throw a rug on it?) - the table makes it obvious you have no dining room- and it's 'corridor like'.

The big chair in the other bedroom makes it small - and hard to see as a single room, much less a double one, I can't gauge how big it is from the picture.

The garden looks small, extremely bare, and totally dominated by an obscure square piece of decking.

You could put up trellis, planting, pot plants on the trellis - maybe a table and chairs? A different colour for the fencing?

I have to say (as feedback and not to talk about price) - it wouldn't be my cup of tea if I was looking to buy a two bed in your area.

Hope that helps.