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

johnny_storm

andysstuff wrote: »

Don't forget that's asking prices down, not prices being achieved.

Yes it is, but I believe it gives a good feel for properties that are not selling and the drops in asking price to try and achieve a sale.

LizzieandThomas

Rachman wrote: »

So go on, why is this house worth £140K (or certainly a lot more than £115K). Do you mind me asking, roughly where is it, what sort of house is it (2/3 bed, ex council, terrace, semi etc.) and being not very English, what you paid for it and when.

I'd feel a bigger prat if I decided I knew more than the market and ended up with nothing to show at the end.... - as for saving on a HIPs, they are a waste of time and money anyway - no mortgage lender will rely on them, so the buyer has to do the searches themselves and will the cost really make a difference to you (I don't believe that it will) - do you have to sell or do you just want to sell - I am bearing in mind you know all about estate agency and what happens if a property sits on the market....

i know if its sat on the market for ages it doesnt look at all good - this is the reason i priced it at a "good buy" for my area. Im in south leicestershire in a little village in a 200 year old 2 double bedroomed terrace cottage.I brought it as a renovation project and it was just a shell when i brought it.
Simlar 2 bed in the area fetch as low as 145 upto 170.

dannyboycey

LizzieandThomas wrote: »

yes i know how to play the game.

Your replies give the impression that you were looking for replies to back up your existing beliefs - i.e. you were hoping for posts that supporte your own views.

Even if you do get a few of these, they will just be anecdotal. May I point out that the facts and figures you require regarding asking prices and selling prices are all readily available if you care to search through the correct channels.

Lizzie... I suggest you re-read all of your posts and consider how you are portraying yourself to the rest of us.

Merton

johnny_storm wrote: »

http://www.propertysnake.co.uk/site/postcode/kt1
Fassett Road, Kingston Upon Thames

2 Bedroom flat, original price £280k, now 200k. Down 28% eeeek

Ouch! The bubble really has burst in that area hasn't it?

Rachman_2

LizzieandThomas wrote: »

Simlar 2 bed in the area fetch as low as 145 upto 170.

Two points, it is 'fetched'.

And past performance is no guarantee of future. If you had to take £130K, would you be breaking even all things considered ? [over how long]

andysstuff_2

johnny_storm wrote: »

Yes it is, but I believe it gives a good feel for properties that are not selling and the drops in asking price to try and achieve a sale.

But you still need to know how much less than asking prices are being achieved to know where the market actually is.

You could sell 10% lower than an original asking price and never show on property snake, whereas if you reduced the Asking Price by 5%, then took an offer 3% below this you would actually do better than the one that never appeared on propertysnake.

Its selling prices that are all important, especially in a falling market.

johnny_storm

Merton wrote: »

Ouch! The bubble really has burst in that area hasn't it?

Im expecting to see bigger falls in flats than in houses, but this is early days yet!

macaque_2

andysstuff wrote: »

As the OP says, they have had an offer within a week of putting it on the market, which suggests it's highly saleable as the average time last month to sell was over 8 weeks.

TBH I'd be tempted to hang out for a higher offer if it were my place.

You are comparing the time to get the first offer with the time to sell the house. Not very smart.

Your advice is well meant but I don't think you have thought it through. We are in the middle of something called a credit crunch. Whilst there may be willing buyers at today's house prices, there are few willing lenders. The people who are getting mortgage credit are carrying the risk themselves by putting up fat deposits. Next April, the problem is likely to get compounded as BTLs try to take profits under the new inheritance tax formula. £115k may be an insult today but in a year's time it could be a precious opportunity.

LizzieandThomas

dannyboycey wrote: »

Your replies give the impression that you were looking for replies to back up your existing beliefs - i.e. you were hoping for posts that supporte your own views.

Even if you do get a few of these, they will just be anecdotal. May I point out that the facts and figures you require regarding asking prices and selling prices are all readily available if you care to search through the correct channels.

Lizzie... I suggest you re-read all of your posts and consider how you are portraying yourself to the rest of us.

i think im portraying myself as someone whi is surprised a simple question cant be answered - i didnt ask for people to debate if my house was worth what im asking.



I dont think i know it all - hence the reason i had a question ! Im 24 years old !!!!!!, i just had a simple question and got loads of other info i did not ask for.

Thankyou for any advice i will do what i feel is best

johnny_storm

andysstuff wrote: »

But you still need to know how much less than asking prices are being achieved to know where the market actually is.

You could sell 10% lower than an original asking price and never show on property snake, whereas if you reduced the Asking Price by 5%, then took an offer 3% below this you would actually do better than the one that never appeared on propertysnake.

Its selling prices that are all important, especially in a falling market.

I agree with you, but the prices that were achieved 6 months ago for a similiar property in the area is now less relevant in a falling market than the prices others are struggling to achieve now.