Current House For Sale Prices

pdej4

Apologies - I've just realised this is in the wrong thread - I didn't realise there was a house prices one! And now I'm not sure how to move it to the right thread - sorry!

Just interested as I've been reading of a few threads today and noticed the "Value" of houses popping up, and causing a few issues, particularly at lender valuation stage.

I'm posting as I am curious about the house pricing situation at the moment. In our area (South Nottinghamshire), as far as I can tell, most people are being quite realistic about their house prices, at least particularly in our village, where properties seem to be selling in a matter of a couple of weeks. Saying that, I also notice a few of the less realistic (for current market conditions) who stay on the market for longer seem to resort to letting instead.

If room for negotiation has been built in, it's not a stupid amount like a typical 10% as I have seen bantered around on here in some of the recent threads (apparently inflated by the estate agents). I think we're talking anything as low as £2k - £5k in general. Perhaps this is just at the end of the market I have been considering (1930's 3 bed semi family home with huge potential for the future which is in quite an exclusive village).

Even the estate agents seem to be fairly decent to deal with at the moment, realising it simply isn't about getting everything that they can for an individual property, but making the deals good for all involved. I can honestly say that in my recent dealings with our estate agent and our vendors estate agent (particularly our vendors actually), I have been impressed and where normally I would have agreed with other negative comments I have read about them, I wouldn't with these ones.

Is this not the norm at the moment in other areas, perhaps London excluded which I hear still has a buoyant market?

Jimbo1976

There is no "one size fits all" figure. Ultimately the price you would pay is reflected by the demand. There are places where properties go to sealed bids above the asking price because demand exceeds supply. Similarly we've all seen properties listed locally where the price exceeds the wildest expectations of the upper level that anyone would pay for it.

Do your research, how long has the property been on the market, do the vendors need/want to sell quickly or can they take as long as they like. Do properties like this come up for sale regularly? Is it on a road which would get your kids into a good school? The list goes on an on. But the more research you do the better position you are to make your offer.