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

dazleeds1978

Hi All again,

I still have not had any views after i reduced to 98,99k.

Thanks

getmore4less

The research done earlier in the thread suggested £95k will be the price to try for.

I have not looked but you don't seem to have any evidence that it should be higher.


I hope all those downlighters are led and not 50w halogens.

Might be a good idea to give it a bit more time thne withdraw and return after a few months for a realistic starting price.

problem is that anyone seeing it at the higher price will probalby not bother even when reduced..

best on-line marketing,
If they use rightmove then they are all equal. the rest is down to getting the brochure right and that is your job.

dazleeds1978

getmore4less wrote: »

The research done earlier in the thread suggested £95k will be the price to try for.

I have not looked but you don't seem to have any evidence that it should be higher.


I hope all those downlighters are led and not 50w halogens.

Might be a good idea to give it a bit more time thne withdraw and return after a few months for a realistic starting price.

problem is that anyone seeing it at the higher price will probalby not bother even when reduced..

best on-line marketing,
If they use rightmove then they are all equal. the rest is down to getting the brochure right and that is your job.

I have even contact the estate agency which they selling house just cross the road for 95 and they said they have not had any views too. The down-lights are 4 watts each. all of still cheaper than one normal light :-)

I just really dont think is about price anymore. when i bought it there are were two offers on this house.

getmore4less

You might be right

Could be the trap that people have stopped looking for 2 beds because 3 beds are in reach.

This happens with studios and 1beds early but 2 beds also fall into the trap as prices creep down.

The problem is people buying often have the income for the bigger mortgages but not the deposits, now if the 2beds are £95k and the 3 beds are £110 they have to save £19k for the 20% deposit and an extra £3k saved get them the 3 bed which they will stay in longer.

Studios 1 bed and now 2 beds are destined for the rental market.

so what do they rent out for?

dazleeds1978

getmore4less wrote: »

You might be right

Could be the trap that people have stopped looking for 2 beds because 3 beds are in reach.

This happens with studios and 1beds early but 2 beds also fall into the trap as prices creep down.

The problem is people buying often have the income for the bigger mortgages but not the deposits, now if the 2beds are £95k and the 3 beds are £110 they have to save £19k for the 20% deposit and an extra £3k saved get them the 3 bed which they will stay in longer.

Studios 1 bed and now 2 beds are destined for the rental market.

so what do they rent out for?

Cross the road the rent it out for 500 pound. My problem i need deposit for the next house.

N79

dazleeds1978 wrote: »

Cross the road the rent it out for 500 pound. My problem i need deposit for the next house.

If that rent is "normal" and the local rental market is "solid" then your probably not far off the price for LLs. LHA is GBP95 / week so the property needs to appeal to private Ts for that level of rent. At your current price straight yield at LHA rates is around 5% - a touch too low really.

dazleeds1978

If i would remortgage my house can i get equity this way as i have 40k in equity? Thanks all

martinsurrey

dazleeds1978 wrote: »

If i would remortgage my house can i get equity this way as i have 40k in equity? Thanks all

£40k equity at what sales price? £98,900?

if you eventually sell it for £85k thats only £26k which means you had about 30%.

If you want to remortgage onto a BTL you'll need a 25 % deposit, so if a valuer gives your property a value of £85,000 you'll get about £4,000 of equity out.

if you can give more details (such as the outstanding mortgage) we can be more helpful.

dazleeds1978

martinsurrey wrote: »

£40k equity at what sales price? £98,900?

if you eventually sell it for £85k thats only £26k which means you had about 30%.

If you want to remortgage onto a BTL you'll need a 25 % deposit, so if a valuer gives your property a value of £85,000 you'll get about £4,000 of equity out.

if you can give more details (such as the outstanding mortgage) we can be more helpful.

The house been valued 104K by 2 stage agencies over gone weekend.

dazleeds1978

martinsurrey wrote: »

£40k equity at what sales price? £98,900?

if you eventually sell it for £85k thats only £26k which means you had about 30%.

If you want to remortgage onto a BTL you'll need a 25 % deposit, so if a valuer gives your property a value of £85,000 you'll get about £4,000 of equity out.

if you can give more details (such as the outstanding mortgage) we can be more helpful.

outstanding mortgage is 58k.