Waiting for a buyer... Anyone want to join me?

iantojones40

sheff6107 wrote: »

Ian, I agree to some degree but I think you are tarring everyone with the same brush. Not everyone lives in the commuter belt where houses sell in a week. By all means have a go at people who won't budge on price but in the real world it's not as easy as knocking 10% off and selling the next day. There are plenty of reasonably priced houses around me that have been on for 12 months and have had numerous price reductions. The market is stagnant and overpriced prices are not the sole cause.

I've said this previously, I'm not referring to ''hot'' areas, i.e. London, SE, Home Counties...
the areas I'm most familiar with are the NW and North Wales, which are certainly not known for being ''hot'' markets ... but it's a sellers market across the whole of the UK right now with stock levels nationwide at record low levels, anything that is sensibly priced WILL sell reasonably quickly and easily i,e within 2-3 months at the most, that's certainly what I'm seeing and the only reason any house sellers are finding it a ''stagnant market'' is because their house over priced

StephieWillcox

Crashy_Time wrote: »

Your pics are fine, house looks clean and fresh, but nearly 400k for that house wouldn`t represent value to me. Garden space is nice, but it is overlooked by many neighbours which spoils it for me a bit. However, good luck selling it, it will probably tick someone`s boxes.


As to the links....well I didn`t want to say it...but 50% off may not even be value! For some of them at least, the balcony flat with the view of a shared drying/dog pooping area is particularly laughable at 275k IMO. I know commutable to London is the reason this area is inflated, but come on, one of the houses asking over 300k is just an ex-council house in what looks like not the best area around? If I was selling there now I would be wary of any downturn affecting London, and would get my skates on about attracting buyers.

I didn't say 400k was value. It seems ridiculous to me too, but I would be pretty stupid to sell for less than the "market" deems reasonable.

Crossrail is what has caused this big growth in the Reading area and it doesn't even reach here until 2019.

Hopefully a commuter couple who would like to start a family will decide it's right for them and turn up on our doorstep soon.

Crashy_Time

iantojones40 wrote: »

I've said this previously, I'm not referring to ''hot'' areas, i.e. London, SE, Home Counties...
the areas I'm most familiar with are the NW and North Wales, which are certainly not known for being ''hot'' markets ... but it's a sellers market across the whole of the UK right now with stock levels nationwide at record low levels, anything that is sensibly priced WILL sell reasonably quickly and easily i,e within 2-3 months at the most, that's certainly what I'm seeing and the only reason any house sellers are finding it a ''stagnant market'' is because their house over priced

I think in the consciousness of many people though a "sellers market" is offers over my 20% profit (just for holding the house) price, not any kind of sensible downwards price adjustment. This sentiment is well engrained, hence the low supply IMO, and will probably only change with a proper recession or rising interest rates, or possibly a deliberate policy change from government, which is starting to happen regarding BTL as one example.

Crashy_Time

StephieWillcox wrote: »

I didn't say 400k was value. It seems ridiculous to me too, but I would be pretty stupid to sell for less than the "market" deems reasonable.

Crossrail is what has caused this big growth in the Reading area and it doesn't even reach here until 2019.

Hopefully a commuter couple who would like to start a family will decide it's right for them and turn up on our doorstep soon.

Maybe, but if for example there was some sort of meaningful price correction in London, even 10% maybe, some people might buy there if they could stretch to it (because that is where they work) and put the commuting idea away? This means your pool of potential buyers would shrink. In your position, if you just need to sell, I wouldn`t be too dismissive of lower offers on the strength of what may or may not happen in a couple of years. How many people now kick themselves for knocking back a 10 or 15k lower offer before Trump/Brexit World appeared?

StephieWillcox

Crashy_Time wrote: »

Maybe, but if for example there was some sort of meaningful price correction in London, even 10% maybe, some people might buy there if they could stretch to it (because that is where they work) and put the commuting idea away? This means your pool of potential buyers would shrink. In your position, if you just need to sell, I wouldn`t be too dismissive of lower offers on the strength of what may or may not happen in a couple of years. How many people now kick themselves for knocking back a 10 or 15k lower offer before Trump/Brexit World appeared?

But then the house I would like to buy will come down by 10% and I'd still be fine? Reading will ALWAYS be a commuter hub. Also, how likely is this to happen in the next few months when my house will be sold?

I don't NEED to sell. I would like to sell in order to move up the housing ladder.

I wouldn't knock back an offer of 10-15k below asking as I've already stated.

Crashy_Time

StephieWillcox wrote: »

But then the house I would like to buy will come down by 10% and I'd still be fine? Reading will ALWAYS be a commuter hub. Also, how likely is this to happen in the next few months when my house will be sold?

I don't NEED to sell. I would like to sell in order to move up the housing ladder.

I wouldn't knock back an offer of 10-15k below asking as I've already stated.

If and when the serious offers start coming in you will know that you are priced to sell in the present economy, until then you are just hoping that someone will bite. My opinion is that as your house isn`t unique in any way (and I don`t mean that as a slight or criticism, just an observation to help you sell) but on an estate of similar houses, there is little point in trying to "track" the expectations of the other sellers around you, because however much some may want to avoid the thought and price at last years price, the market and general sentiment has changed; you need to be below their price to attract attention. IMO.

StephieWillcox

^ Oh I agree it's not unique in the slightest. That is why I felt it was priced fairly appropriately as it's so easy to make comparisons.

I will most likely wait until end Jan and then reconsider if the price is putting people off.

smallholdingsister

Well thanks to everyone who has contributed in a constructive way.
I wish everyone good luck for the new year.

Stephie I feel similarly in that I don't NEED to move. It is more of a lifestyle tweak than a significant change. It doesn't stop we wanting some progress though!

Bipolar builder has still not appeared, and lots of jobs to do this weekend.

glasgowdan

StephieWillcox wrote: »

^ Oh I agree it's not unique in the slightest. That is why I felt it was priced fairly appropriately as it's so easy to make comparisons.

I will most likely wait until end Jan and then reconsider if the price is putting people off.

I wouldn't rush to drop price, given that "sentiment" hasn't changed in many many areas of the UK and is still very strong.

Also, taking general advice on selling from people who don't know anything about the area or even the current housing market in general...just use caution and your own decision making process and hope you get to where you want to be with minimal stress.

Crashy_Time

StephieWillcox wrote: »

^ Oh I agree it's not unique in the slightest. That is why I felt it was priced fairly appropriately as it's so easy to make comparisons.

I will most likely wait until end Jan and then reconsider if the price is putting people off.

Yes, fair point, going in slightly below gives you the edge though?