Have house prices went down?

richardmao

Maybe wait for property prices to rise

numbercruncher8

Need some more context really. Your 'low valuations' may not really be that low in the scheme of things, ie if you were hoping for £320k and the agent says £300k. This isn't that much of a difference (less than 10%) but much sensitivity is baked in around the previous sale point. Especially if its a loss, or you need a certain amount of money to move.

Agents want to sell houses, it isn't in their interests to give low-ball valuations otherwise it's unlikely they would get much business. Previous sold prices and the size of houses are available on Rightmove. Agents have even more data that isn't visible - ie failed sales, levels of interest, customer sentiment. It might be an oversight for one agent to not look and simply assume all the houses are the same. Or have no comparable data for nearby properties of similar size. But for several agents to do the same, it seems quite unlikely.

Anyway as others have said, it is entirely up to you to put whatever price you want. 

Polly05

numbercruncher8 said:

Need some more context really. Your 'low valuations' may not really be that low in the scheme of things, ie if you were hoping for £320k and the agent says £300k. This isn't that much of a difference (less than 10%) but much sensitivity is baked in around the previous sale point. Especially if its a loss, or you need a certain amount of money to move.

If I've done the maths correctly, there's just over a 30% difference between the valuations. 
And the highest one doesn't cover all the work I've done on the place so I would be making a loss.. 

davidmcn

Polly05 said:

numbercruncher8 said:

Need some more context really. Your 'low valuations' may not really be that low in the scheme of things, ie if you were hoping for £320k and the agent says £300k. This isn't that much of a difference (less than 10%) but much sensitivity is baked in around the previous sale point. Especially if its a loss, or you need a certain amount of money to move.

If I've done the maths correctly, there's just over a 30% difference between the valuations. 
And the highest one doesn't cover all the work I've done on the place so I would be making a loss.. 

There's no rule that you get your money back from improvements e.g. to a buyer your "new" kitchen is now a second-hand one, and probably not what they would have chosen. Any street will tend to have a maximum which anyone will be prepared to pay no matter how good the state of the property is.

staffie1

You’ve been told what to do. Now just do it, or forget it. 😊

Chilli6

I think you need to stop expecting to get back all that you've put into the house. That often isn't reality. 
I'm currently purchasing an outdated house and expect to modernise over the next couple of years. It is perfectly liveable as it is so it's my choice to update it. 
Even if the money spent is needed, due to the house not being liveable, it doesn't guarantee you get that back. 
Perhaps try putting it on at the highest valuation but expect it may not sell at that and you then need to decide what to do 

Brackenfield

Get your home report done, it will have the value that your buyers will be looking at. 

edgex

Polly05 said:

I bought my place 8 years ago, and have done a lot of work to it.
I have recently got valuations with a view to selling but they seem to be coming in with quite low valuations. One especially low.
The valuations I have gotten are lower than what it was valuated at when I bought it. Its in much better condition now. New kitchen, bathroom, double glazing etc. 

but double-glazing is standard, so not better than other properties.
Unless the kitchen & bathroom were done in the past year, then they aren't 'new', & again won't be any better than other properties. (unless you've gone all out on them, & then you've got to think about the ceiling price for the street/area)

Crashy_Time

Mickey666 said:

Angela_D_3 said:

I'd get an independant valuation done, £300 ish then you know what the banks think it's worth who's only opinion matters tbh.

I know what you mean but that's not the only opinion that matters.  What about cash buyers who don't need a mortgage?  A bank valuation is of no direct interest to them.

Anyway, all a bit academic.  There are two basic strategies to house pricing depending on how desperate you are to sell; price competitively for a quick sale or price high and let the market come to you.  If you choose the latter then be prepared for a long wait.

It will be to a smart cash buyer, the people who would bid 50k over asking because they fell in love with the house won`t be cash buyers.

Crashy_Time

RobM99 said:

Have a look at Rightmove, they list recent sales in your area.

See what other sellers are doing.
https://www.propertylog.net/