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

freddiemae

steveymp wrote: »

We sold in April this year and have been homeless since sold for £23,000 over rateable at the time and £9,500 under the asking price which I thought at the time was very generous of me:rotfl:

It doesn't seem so generous now as 3 bed semis in the same area we sold are now up for £20,000 less than we got and not shifting :eek: having said that our sold house was ready to move into and freshly decorated and carpeted throughout and in very good repair.

I have been searching for a new home everyday and the vendors and EA's to some extent are living in a dream world still with pricing:eek: One particular house I made an offer on in May this year turned me down flat and felt insulted at such an offer, they phoned me last week to say they would now accept that offer :rotfl:Needless to say I told them in no certain terms that my offer was no longer on the table and I would reassess the house and make a new much smaller offer when I get time they hung up on me:rotfl: my wife had changed her mind about the house anyway and no longer wanted to do all the work that would of needed doing, but I thought I would have a laugh at the vendor and EA.

January, February and March will see an influx of Repo's once again as banks try to balance their books for April, so prices still have a long way to fall IMHO

Sentiment is now turning and even the most deluded vendor must see the writing on the wall. We are in the fear stage just now - next year may see the panic stage starting.

leftieM

At the time of this thread starting we were selling up and we went into a rented house for more than 3 years. We bought last June after looking for 6 months and offering on about 4 other houses. All of the houses that were sensibly priced needed work. Most were people selling inherited houses. Most sold for less than RV. The one we got went for 30k below RV but it needed some work (although, that said, it's surprising how you stop noticing old fashioned carpets after a while!)
I'm relieved that we found somewhere. I'm happy with the house and I'm surprised at how accepting I am that it is falling in value. Renting was a pain. Our landlord was a pain. It's a lovely feeling thinking that we'll be in the same place this time next year and not worrying about the house being sold from under us, especially when we have children.

x12yhp

I have to say that my search shows almost nothing with asking prices which are sub RV. There are the occasional one or two but asking prices typically seem to be RV+10% (and above). Being in NI it is hard to know what the market really looks like - I do not really trust EAs to be honest - so I guess it is almost impossible to answer the question of whether RV is a good indicator for where you should be offering.

steveymp

x12yhp wrote: »

I have to say that my search shows almost nothing with asking prices which are sub RV. There are the occasional one or two but asking prices typically seem to be RV+10% (and above). Being in NI it is hard to know what the market really looks like - I do not really trust EAs to be honest - so I guess it is almost impossible to answer the question of whether RV is a good indicator for where you should be offering.

Remember 'asking price' is exactly just that, EA's and Vendors will obviously want to get as much as possible for their property and this will be reflected in the asking price. In most areas RV is the key at present a lot less if the house is a repo or in need of work, if your making an offer don't be afraid to go low;) the worst they can say is no:)

wanchai_2

leftieM wrote: »

At the time of this thread starting we were selling up and we went into a rented house for more than 3 years. We bought last June after looking for 6 months and offering on about 4 other houses. All of the houses that were sensibly priced needed work. Most were people selling inherited houses. Most sold for less than RV. The one we got went for 30k below RV but it needed some work (although, that said, it's surprising how you stop noticing old fashioned carpets after a while!)
I'm relieved that we found somewhere. I'm happy with the house and I'm surprised at how accepting I am that it is falling in value. Renting was a pain. Our landlord was a pain. It's a lovely feeling thinking that we'll be in the same place this time next year and not worrying about the house being sold from under us, especially when we have children.

OK... hands up anyone who's had their rented house 'sold from under them'???

Not me, and I've rented for a good while now, various houses - but *I* always chose when to leave.

Such an old chestnut...