Trouble selling..

Rick62

I'm a bit confused here. Houses sold for between £195k and £207k in feb '06, agents values (before the more recent credit problems) £225, £230, £235. Where does the OP get £245/£240k from? Sounds like ask £230k, hope to get £220k max. I doubt prices have been moving much down that way and while a nice looking house it is small and anything over £200k would be a good result.

robwend

do you think if by some chance in a million this young gent sells at the price he wants will he up the price 4days before exchange?

ixwood

Out of thin air it appears.

House may have gone up 10%, but definitely not new builds. Basicaly, new builds are sold at a builders premium (that's what marketing is for!!), so that has to be taken into consideration.

My advice is still the same, reduce asap, or risk getting stuck in a falling market.

Silly bubble prices aside, a modern (i.e small) 2 bed terrace "proper" price is somewhere under 150k IMO. And in this market you could well find that out.

I seen somewhere that there's talk of banks going back to 3.5 x salary for lending levels due to the credit (i.e debt) crunch. In effect lending is getting a whole lot more expensive even without more IR rises.

How much do you think your house will be worth if that happens? Not too mention London money surely drying up somewht, as all this financial crap is going on and money is dissapering left right and centre.

As it stands it's already on the market for a cool 35k-40k more than I'd currently guesstimate my 1830's detached stone cottage in a nice spot in a lovely northants village is worth.

Are your walls made of gold? I know location, location, location is the key thing with property, but come on, would you pay that much for it? Really.

I do think alarm bells should be ringing. Either sell quick at a reasonable price, or brace yourself for a shock and 10 years of NE.

asandwhen

I had this problem with my flat that was on the market earlyer this year - When I put it on I was expecting £95,000 for it and thought it would sell quickly as everything was moving fast round here - I put it on the market for 98K and was the cheapest on the market and had 2 viewings in the first week (april) then nothing for 2 months in the end I lowered the price to 89 and accepted 86k. Now there are similar flats on at 85 and not selling. I would say drop the price considerably now or you will be chasing the rest.

dunnomate

Is it the rising interest rates effect ?

nelly_2

dunnomate wrote: »

Is it the rising interest rates effect ?

um maybe or could it be this is an average house?

with average wage at arount £25 grand a year its about ten times mortgage.

or even 5 times if a couple are on average wage

benjdr

I envy you, living in Petersfield. I'd love to live near JSW.

FBThree

My first time of viewing this thread and I agree with Benood that the photos don't imply the house is worth that money. The house looks a bit cluttered, which implies small, and might not attract people in the current market.

Agree - clear those kitchen work surfaces, window ledges, and put that draining board away. No-one wants to be reminded of the work involved in keeping a house. Get that futon out of the master bedroom. Makes the room look too cluttered. What's the 2nd bedroom look like? Bathroom ? Garden? I agree that the lampshades don't photo well. The bare bulb over the dining table's nice too. Can you buy new ones - you can always take them with you. I agree that the lined up bookshelves etc don't look right in the photo. Can you move the bookcase from under the window until you sell - e.g to second bedroom?

barnaby-bear

Rick62 wrote: »

I'm a bit confused here. Houses sold for between £195k and £207k in feb '06, agents values (before the more recent credit problems) £225, £230, £235. Where does the OP get £245/£240k from? Sounds like ask £230k, hope to get £220k max. I doubt prices have been moving much down that way and while a nice looking house it is small and anything over £200k would be a good result.

http://www.rightmove.co.uk/viewdetails-9041043.rsp?pa_n=3&tr_t=buy
Asking £249k for a 3-bed semi on same development so 2-bed terrace at £245k looks poor value to me but I don't know the area I'm just assuming being round the corner on same development comparable - perhaps the OP has some lay-lines or crystal healing powers that makes it not overpriced in comparison.

BettiePage

benood wrote: »

I've just looked at your details and the house looks a bit dowdy on the details I'm afraid - you have to work very hard to justify a premium price.

What are those lightshades in the sitting/dining room?
The kitchen surfaces need to be clear (inc on top of fridge) - it looks like there's insufficient storage space - get rid of the dirty tea towel.
Where's the picture of the garden?
The front looks very spartan - you need a better lens on the camera the roof line is weird.
The sitting/dining room looks a bit unfriendly - the tv and hi fi on one wall and the sofa and table on the other - how do more than 2 people sit down and have a comfy chat? The table in front of the sofa is too small or high or something.
Could you include a picture of the bathroom.
Low level mood lighting would no doubt help.

Having said all that you probably need to drop the price anyway.

Good luck.

Agreed. I realise that you'll be taking your stuff with you, but if I was to spend a quarter of a million pounds on a house, I'd want it to look worth the money. Furniture from Argos is just not selling me the lifestyle, sorry.