what would you price my property at?

tigsly

A house 4 doors down - pretty similar in size and shape (as in theres has a downstairs second bathroom - and ours has an upstairs ensuite) both are 4 beds.. the other house his slightly better spec.. theres sold for 465.. in 2012.

What would you guess our property is worth and what woudl you do? ((I know only what someone will pay but hear me out)..

the valuations have come in from offers over 450 to 500.

Now I dont think the house is worth 500.. when we went on the market earlier this year at 465 - we had 12 viewings no offers..

so i'm tempted to do 450 - .. offers over..

advice appriciated

SantaKlaus

i'll give you £500

pinkteapot

I'll go £525.

What was the feedback from the viewings? The fact you got 12 suggests it wasn't shockingly overpriced but something must have put people off...

Lord_Baltimore

In my view your property falls into a very unpredictable price point. It's out of reach of FTBs and follow ups but below the 'luxury' market. This makes valuing tricky - especially as we can't see the property!
You'll be angry with yourself if you under value it but your past experience is a guide to what buyers expect for that kind of money.
You could be in for months of suck it and see price adjusting. Good luck.

System

Dont forget the EA will have upped the price to give a little room for negotiation.

Ours was "valued" at £115k no way it was worth that , we accepted £108k which was £3k more than we thought we would get.

tigsly

Feedback was entertaining - we had 3 viewers who were not ready to move, as in were not on teh market at all...

a couple who loved the house but were having trouble selling theres..

one who 'didn't like how close we were the railway' (the railway line is at the end of the garden).. and is clearly seen on the map we added

two who were nosy neighbours..

And then the rest were either 'no feedback' or 'have found another house' type feedback...

nothing 'tangiable' ..thats what made me think we'd over priced.. but the makets gone up since June hasn't it?

Thrugelmir

At £450k the property may well take time to sell, i.e. months. So leave it on the market and see what develops.

pinkteapot

Unless you're in Scotland, I wouldn't do offers over. I really don't understand what sellers are looking for when I see that. Can I offer you £450,001?

I usually take it to mean that the figure (£450k in this case) is the minimum they're willing to accept, and they got fed up with people offering less than that amount.

The majority of houses in England still just have a good old-fashioned asking price that's negotiable to varying degrees. I'd stick with that approach.

In terms of what you ask, it entirely depends on how quickly you want to move. Price it at £300k and you'll sell it within an hour (or probably just to the EA who comes to value it). Price it at £550k and you'll never sell it.

When you get EAs round to value this time, ask them what they'd put it on the market for, and what price they actually expect you to achieve. Still amazes me the number of people who don't ask this when EAs visit and just get the headline number. Work out the price you want to get, then add a bit so there's room to negotiate. If you want to get £450k, I'd market again at £460-465k. If you'd accept £430-440k, market at £450k...

Re the other one that sold for £465k, what do you mean by better spec? Did it have new kitchen and bathrooms, for example? Does yours need some redecorating?

BitterAndTwisted

The other house had two family bathrooms, one upstairs and the other on the ground floor. The OP's has a family bathroom downstairs but only an en-suite upstairs. In a four bedroomed house this would be most unsatisfactory and should carry a much lower price-tag.

FR_262

December isn't the best time to be selling!

Have a look on 'mouseprice' website. You'll need to join but it's easy to do. You can see house valuations, and what other houses sold for. You can also adjust the value of your house (upwards) and correct e.g. the number of bedrooms or area, and say why yours is worth more than anyone elses'.

ging84

BitterAndTwisted wrote: »

The other house had two family bathrooms, one upstairs and the other on the ground floor. The OP's has a family bathroom downstairs but only an en-suite upstairs. In a four bedroomed house this would be most unsatisfactory and should carry a much lower price-tag.

I think you might be getting the wrong end of the stick, the 2nd bathroom in the other house is downstairs, nothing to says the main family bathroom in the OP's house is downstairs in that post, nothing says it isn't but i think that is very unlikely