So tired of denial of the state of the housing market

sal_III

Don't do the kitchen now, chances are you are not going to match the buyer vision for it. Get a quote for it and deduct from the price so the buyer can spend the money the way they see fit and ask the EA to mention this fact in the listing.

I cringe every time I see a house I really like otherwise but the Vendor decided to splurge (just before listing) on a new kitchen that is not to my taste in vain hope to drive the price up.

Reds-on-Sea

Ah thanks for this. I was actually looking to discuss the housing market in general as opposed to get a roasting for the state of my kitchen! hahaha! :-))

The problem lies where everyone buying and selling just perpetuates the situation. Nobody wants to go in £50k under what their estate agent suggests do they, so everyone just goes along with it! I don't mind getting less for mine if the house I plan to buy is also suitably in-line with what it's ACTUALLY worth! (Whereas I see some massively overpriced houses IMO)

lookstraightahead wrote: »

I think 3 months is no time at all. I always look at a year to sell and move all in all.

I do agree though that the housing market is being hyped up by EAs especially in my village. Some of the prices are an absolute joke and the houses just sit there on Rightmove, change agents, re-appear as newly listed. Often I will sit there looking at our house prices instead of watching Comedy Central

Reds-on-Sea

That was the original plan. EA quote was £350k, I expect £330-£335 (hence the OIRO).

I gave it a lick of paint, but that's about it. Everyone's said the kitchen hasn't been a prob. Everyone's got different taste, so why second guess eh? I've got my eye on one place which some people might think is perfect. It's clearly a very expensive kitchen, but I think it's HIDEOUS!!!

sal_III wrote: »

Don't do the kitchen now, chances are you are not going to match the buyer vision for it. Get a quote for it and deduct from the price so the buyer can spend the money the way they see fit and ask the EA to mention this fact in the listing.

I cringe every time I see a house I really like otherwise but the Vendor decided to splurge (just before listing) on a new kitchen that is not to my taste in vain hope to drive the price up.

lookstraightahead

I can only really talk of my area as I have been here a long time but when someone sells here they tend to get all the agents round. There is usually a massive range of valuations depending upon the agents marketing strategy but from a sellers perspective they are naturally going to want as much as possible for their home and start believing it is worth it. It then sits gathering dust til eventually the agent is switched and the price is reduced, but then it has lost its appeal as everyone knows it did not sell quickly. Realistically priced houses I personally believe are still being snapped up but the market is so fickle.

This is not new though. In 1983 my dad had three agents round and they placed the value of his home at £45000, £80000 and £90000.

victoriavictorious

Reds-on-Sea wrote: »

That was the original plan. EA quote was £350k, I expect £330-£335 (hence the OIRO).

I gave it a lick of paint, but that's about it. Everyone's said the kitchen hasn't been a prob. Everyone's got different taste, so why second guess eh? I've got my eye on one place which some people might think is perfect. It's clearly a very expensive kitchen, but I think it's HIDEOUS!!!

Exactly, thats why it's never a good idea to spend too much on stuff like that if you're moving.
Our next house also has a horrible, badly-planned new kitchen - which is going to get ripped straight out almost as soon as the removal van has left! :eek:

Smodlet

My first impression of your house, OP, was ex-LA, wonder what state that roof is in; does it need replacing? I realise it is actually ex-MOD, now but what difference does that make to the average buyer? Unless they come from a military background, probably none and, even if they do, why should they be sentimental about such houses?

It just looks unloved, bare and as if a whole list of expensive jobs need doing. The third bedroom does not look large enough to accommodate a bed with that bulkhead in there. If other properties similar to yours close by are going for less, you probably need to re-think your strategy.

Good luck and I agree with you that far too many properties are hideously over priced for what they are, especially boxy little new builds. At least yours looks like a free hold property. Is it?

TamsinC

Reds-on-Sea wrote: »

Ah thanks for this. I was actually looking to discuss the housing market in general as opposed to get a roasting for the state of my kitchen! hahaha! :-))

We sold in January; ex rental and needing a lot of cosmetic work, which we weren't going to do - we worked out what we thought it was worth from sold house prices nearby - estate agents valued it at £200 - 210K which was what we expected. Put it on at offers over £200K and it sold on a week on the first day of viewings. Get the price right and it will sell. Those that don't are over priced for the market. Lots of people insisting on their idea of the right price and not accepting offers hold the market up.

Reds-on-Sea

Yes it's definitely all freehold. Everything is maintained and replaced to the highest standard (with the exception of the cooker lol). All the electrics are certified. The old boiler has been replaced with a combi. The roof is perfect. The only expensive job is the kitchen I think. It was our forever home so we were planning to spend a shedload on the kitchen. The only plaster wall is the one between the kitchen and dining room so that was going to go. The 3rd bedroom is big enough for a bed. Some of the neighbours use the utility as their teenager's bedroom!!

KL0001

The price! Everyone seems to think their house is worth more than it is and EA seem to be encouraging this. In the village I live in the sensibly priced houses are snapped up in days, the ones whose sellers believe they are worth more than next door sit on the market for months, ultimately reduce the price and then get buyers.

Reds-on-Sea

@ TamsinC I agree. I feel like i!!!8217;m part of the problem, but unfortunately, it!!!8217;s a broken system. EAs and vendors are all just perpetuating the illusion that all houses are worth what people say they are.