Sellers are valuing their house £130K above what they paid

phoebe1989seb

RelievedSheff wrote: »

I have found two near us that have raised their asking prices after a 30 second search.

https://www.rightmove.co.uk/property-for-sale/property-84042233.html

https://www.rightmove.co.uk/property-for-sale/property-82205717.html

No doubt there will be more to come as people realise the economic/political picture isn't as bad as project fear is portraying :cool:

We looked at a rural project house with land that was on for £210k. With the amount of work required (including subsidence/other structural issues) we'd have only been prepared to pay about £180k. Shortly after viewing the vendor increased his asking price to £295k, then a few months later to £350k - he'd not done anything to the house - then dropped it to £250k. Next thing we noticed he'd changed the pics on his listing to show the place had been stripped of possessions/furniture and had been given a lick of paint. The blurb still stated that the house was in need of major refurbishment. It went back up to £295k and went sstc fairly quickly - completion price £257k......

That was in Lincs.

RelievedSheff

phoebe1989seb wrote: »

We looked at a rural project house with land that was on for £210k. With the amount of work required (including subsidence/other structural issues) we'd have only been prepared to pay about £180k. Shortly after viewing the vendor increased his asking price to £295k, then a few months later to £350k - he'd not done anything to the house - then dropped it to £250k. Next thing we noticed he'd changed the pics on his listing to show the place had been stripped of possessions/furniture and had been given a lick of paint. The blurb still stated that the house was in need of major refurbishment. It went back up to £295k and went sstc fairly quickly - completion price £257k......

That was in Lincs.

So what you thought it was worth and what the eventual buyer thought it was worth was £77k apart.

Quite a percentage difference on a property initially listed for £210k!

Crashy_Time

Grenage wrote: »

Our last house sold for 30% above what we paid, with no work done. Another year later it would have sold for 45% above. We did however buy 3 years after the crash

Markets are rather capricious.

Got a link to the general area so we can see how it is doing now?

Crashy_Time

RelievedSheff wrote: »

I have found two near us that have raised their asking prices after a 30 second search.

https://www.rightmove.co.uk/property-for-sale/property-84042233.html

https://www.rightmove.co.uk/property-for-sale/property-82205717.html

No doubt there will be more to come as people realise the economic/political picture isn't as bad as project fear is portraying :cool:

There are plenty of 25k and 50k price drops in the slightly higher price brackets near you, a 2k and 5k price raise isn`t particularly exciting by contrast?