Long time on market

booksurr

CleoTheCat wrote: »

Sorry but that info is incorrect and is giving a skewed view of the local market.

nonetheless that is the info which comes up so it is what people base their ideas on

kinger101

CleoTheCat wrote: »

I'm sorry but I would beg to differ. A master bedroom that is capable of taking a king sized bed is most certainly classed as a double (as is the second bedroom). Our third bedroom is the only single.
We didn't buy at the top of a bubble and our new property is in a completely different area and so hardly comparable in terms of property prices.
It would appear from most comments that the HR value is a load of crock

Differ all you want. The interpretation of buyers is all that counts. I didn't look at any properties with a master bedroom below 12' by 10' when I was buying. I know most new builds will tend to have smaller rooms now, but this is one of the downsides of modern developments.

You said you purchased the home 10 years ago. House prices peaked in 2007, so you did purchase near the top.

Regardless of where you purchased your new home, the crash was nationwide so it would have affected the price of your next purchase.

I think there is a certain amount of head in the sand here. Your potential buyer doesn't care what you paid for it. If your property is significantly larger that the others in the same development, perhaps ask your EA to emphasize this point.

CleoTheCat_2

Mojisola wrote: »

What kind of contract did you sign?
I had to change agents when I was selling Dad's house and it didn't cost anything.

We have to pay £200 fee if we end the contract with the estate agent (althugh I would argue that one) However, going with a new agent will mean fees for marketing (BSPC, new schedules etc.) plus a new Home report (old one is now out of date) which is £500 on its own
The joys of selling in Scotland (although I'd take it over the English "chain" system any day!) :eek:

Debtslayer

Personally I think you'd have been better off accepting 119k, it doesn't matter at the end of the day what new builds are fetching, they always attract a premium. Your house is only worth what someone is willing to pay for it.
At 119k you wouldn't have lost money and you wouldn't still be paying bills for an empty house and thinking of spending even more to put it on with another agent.
You've moved on so probably best to cut your losses and get rid; chalk it down to experience.
P.S in my opinion it never looks good on Rightmove when it says property has been on the market for that long, people will think there's something wrong with it. Also when we were looking we always sorted by newly listed so yours could well be overlooked

ellie27

You bought at £118k and can actually sell for that price sounds good. We bought a new build around the same time as you, in Glasgow, for £180k and sold last summer for £160k. For you to get back what the newbuild actually cost you sounds good from my experience in my area and recently too.

And the HR value, no houses sell for the HR value from my experience in my area in Glasgow!

glasgowdan

Ooft Ellie, every house I've looked at has sold at or above hr value in the past couple months!

I think the OP is in an undesirable location and getting unrealistic ideas from the agent. Get rid at 119k if you can!

CleoTheCat_2

glasgowdan wrote: »

Ooft Ellie, every house I've looked at has sold at or above hr value in the past couple months!

I think the OP is in an undesirable location and getting unrealistic ideas from the agent. Get rid at 119k if you can!

119k offer is no longer on the table.
What's the point of having a HR valuation if the property won't get anywhere near that value?!!
I swear I have no idea how poeple make any profit on property. This is the second time that we have sold a property and made no profit.

Bluebirdman_of_Alcathays

CleoTheCat wrote: »

119k offer is no longer on the table.
What's the point of having a HR valuation if the property won't get anywhere near that value?!!
I swear I have no idea how poeple make any profit on property. This is the second time that we have sold a property and made no profit.

And there was me thinking people bought a house to get a secure house over their heads


There are far less risky "investments" if you're looking to make a profit.

Thrugelmir

CleoTheCat wrote: »

Offer was £119.
(We bought the house brand new for £118k 10 years ago)

A property is only worth what somebody else will pay for it. Purchase price is irrelevant. Other than the fact that people hate to sell anything at a loss. Only a profit.

Bonfire_Bride

I know how you feel...we are coming up to 16 months (but we are located next to a pub) We switched EA's 2 months ago and things have really picked up.

I would be happy to get what we paid for it even if we have completely renovated it. We purchased in March 08 - just before the huge crash.

You need to decide what is more important - taking a small hit on the price or continuing to pay the bills for it. I know which one I would choose.

Good Luck - it will happen. Some of the photos need changing - it's a nice little house, but the photos are not complimentary. Id advise a new one of the front of the property to make it look like a home, rather than a house in amongst other houses. x