for those with there house for sale how low are the silly offers coming in at ?

johnny_storm

Yes! Id love to hear back too, all of us have our theories about what the market is / should be doing.

But real examples of offers up / down are much more concrete!

Thanks Lizzie!

dolce_vita

I have just sold 2 of my rented properties (1 house, 1 flat)

Both at 20% below the "going rate" for similar properties.

I now from experience that chasing the market down is a risky game and am more than happy to have got in (out?) before the rush.

Both were bought over 15 years ago so I could afford to undercut others and still make a tidy profit.

And obviously I am neither greedy nor stupid.

carolt

With respect, Lizzie, you are only 24. Those of us a fair bit older than you can remember the last crash only too well. Just because you can't remember a time when house prices only ever went ever upwards, doesn't mean that alternative scenarios can't happen. If you bought 4 years ago, you should find that at least you are protected from negative equity for some time - possibly completely, depending how much prices fall and how much value you added to the property by doing it up.

The kind of price you're suggesting for a 2 bed - not big enough to really be a family home - sounds a lot to me for the area you're suggesting. You're not within commuting distance, and local salaries are just not that high. You are comparing your asking price with other asking prices - not selling prices. nethouseprices will help here, but usually only a few months after the date the price is agreed, so will never provide the latest prices. That's why a general discussion of where house prices are headed is relevant on this thread, like it or not. Either use your feel for where house prices are headed, together with existing but out-of-date local price data, or get chatting to lots of local people in the shops, down the pub, at work etc etc.!

That said, most of those who have posted on here with direct answers to your question seem to suggest they or people they know who have sold very recently have accepted substantially lower offers. That's not to say you need to - they will come from many different parts of the country and different types of housing - but don't ignore the direct answers you have had.

SquatNow

LizzieandThomas wrote: »

My house is worth what im asking , if i cant sell for a reasonable figure in this market i will just wait - what makes people think that i would be that desperate to let it go so cheap - you can not buy anything for £115,000 or £127,000 in the area i live !

The OPs house is WORTH £115k, as that's what someone is prepared to pay her for it. If someone offered her £500k then it would be WORTH £500k.

cattie

My sale fel though a couple of weeks ago when we were on the verge of exchange & completion. I'd then accepted an asking price offer on it back at the beginning of summer when it went on the market. I've been lucky enough to get another offer on it just 3 days after it went back on the market. First they offered 3k under asking, but when I was a bit hesitant they upped it to full asking price. :rudolf: :rudolf::D :rudolf:

do_it_today!

dolce_vita wrote: »

I have just sold 2 of my rented properties (1 house, 1 flat)

Both at 20% below the "going rate" for similar properties.

I now from experience that chasing the market down is a risky game and am more than happy to have got in (out?) before the rush.

Both were bought over 15 years ago so I could afford to undercut others and still make a tidy profit.

And obviously I am neither greedy nor stupid.

Good for you!
curious to know if the market does nose dive by 30-60% will you buy again?

do_it_today!

Just looked on property snake and entered SE3 (not far from me) and there are 3 pages worth of reductions whereas 6 months ago there wasnt even 1!

johnny_storm

How many will there be in another 6 months :beer:

caveatvenditor

lotus76 wrote: »

It's really nice that you're all so concerned about me!:j Bless.

We put down a 40k deposit on a house worth 230k so that will protect against negative equity somewhat won't it?

Astounding!! If you bought that house in the last couple of years you can kiss that 40K goodbye!

bigjoe

SquatNow wrote: »

The OPs house is WORTH £115k, as that's what someone is prepared to pay her for it. If someone offered her £500k then it would be WORTH £500k.

Not true. The house's worth doesn't change one iota unless you add an extension, etc.,.Otherwise only the price people are willing to pay does.

Don't confuse the price of something with its value.