Is it too late to sell a house in Northern Ireland???

manalive_2

thriftyminx13 wrote: »

i mean it's very cheap.

If it seems too cheap then maybe there is a reason for that.

Having said that there is a great deal of uncertainty about what is a reasonable price for property at the minute. You might just have gotten lucky and found the only seller in Belfast who is realistic about the value of their house. I doubt it though.

thriftyminx13

tara747 wrote: »

The ones who do reduce to a realistic price are the only ones who have any hope of selling...

Yes - well obviously.

tara747

thriftyminx13 wrote: »

i mean it's very cheap.

And... why are you worried by that?

thriftyminx13

manalive wrote: »

If it seems too cheap then maybe there is a reason for that.

Having said that there is a great deal of uncertainty about what is a reasonable price for property at the minute. You might just have gotten lucky and found the only seller in Belfast who is realistic about the value of their house. I doubt it though.

That's why I'm a bit worried for her but maybe he needs to get rid of it quickly then maybe its an ok price. I don't know the area at all.

Seems to be between donegal road and lisburn road.

thriftyminx13

tara747 wrote: »

And... why are you worried by that?

see manalives post and my previous posts. worried that its not a great area to live in for my friend.

I worry about my friend see.:o

tara747

manalive wrote: »

If it seems too cheap then maybe there is a reason for that.

Having said that there is a great deal of uncertainty about what is a reasonable price for property at the minute. You might just have gotten lucky and found the only seller in Belfast who is realistic about the value of their house. I doubt it though.

I may have got the wrong end of the stick, but I thought that thriftyminx was saying that 'property' generally is too cheap, not one particular property. Am I right?

If one house/street in particular is way cheaper than the competition, it's usually (a) a house in bad condition/fixer-upper or (b) a bad street/area.

Saying that property is too cheap is like saying that food is too cheap imho. Why do some people think that high house proces are a good thing?

thriftyminx13

tara747 wrote: »

I may have got the wrong end of the stick, but I thought that thriftyminx was saying that 'property' generally is too cheap, not one particular property. Am I right?

If one house/street in particular is way cheaper than the competition, it's usually (a) a house in bad condition/fixer-upper or (b) a bad street/area.

Saying that property is too cheap is like saying that food is too cheap imho. Why do some people think that high house proces are a good thing?

See #325 post

manalive_2

thriftyminx13 wrote: »

That's why I'm a bit worried for her but maybe he needs to get rid of it quickly then maybe its an ok price. I don't know the area at all.

Seems to be between donegal road and lisburn road.

Its possible that the seller is looking for a quick sale and has priced accordingly.

There does seem to be a view from owners that they will not sell at what they consider to be a low price and will just sit tight and wait for prices to recover. With interest rates being so low at the minute this takes the pressure off people who might otherwise be struggling with the mortgage and may have been forced into selling had interest rates been around 5%. Not saying that they are right to think this way or that I think prices will recover, just that this seems to be a commonly held view at the minute.

leftieM

thriftyminx13 wrote: »

but also remember a lot of people no matter how low the markets goes won't sell at ridiculously low prices if there is no urgency.

perhaps those same people will happily sell when they realise that the amount they need to borrow to move 'up the ladder' is considerably less than it was.

tara747

thriftyminx13 wrote: »

see manalives post and my previous posts. worried that its not a great area to live in for my friend.

I worry about my friend see.:o

OK, so it's the cheapness of the area that you are worried about. FWIW, Soudan Street is in a very bad area and your friend is right to be cautious. I wouldn't buy a house in the Village for £10k TBH.