Advice needed on Selling Bungalow

tarsh

Thanks for the good wishes.

Agree on the state of some of the places people have been living in, it is sad to see sometimes.

There is quite a range of condition & prices we are looking at, so I'm currently working on a reburb budget for one of the places we are interested in that needs everything doing to get an idea of how that will cost, then we can adjust for different places.

youth_leader

Do get realistic estimates tarsh, everything has gone up hugely.  I was told that timber has trebled in price and I also enquired about concrete.  Quote for approx 75 sq m of timber floor replacement was £9K plus VAT - a concrete floor was quoted at  £36K.  I left a 264 sq m grade II listed building that needed a new slate roof to downsize to here, as traumatic and awful as my sales experience was, I regularly thank my lucky stars!

jonnydeppiwish!

It comes down to 2 things - location and price. Yes it may be at a similar price bracket to others but are they actually selling, and if so, what for.
Our local EAs are all of a similar opinion that prices are or will be around 16-18% less than what they were in July 22.

Puts yours probably around £440k.

I’d out it up for offers over £430k and then see what the market is like over the next month or so.

If it doesn’t sell then you get to stay.

Sarah1Mitty2

jonnydeppiwish! said:

It comes down to 2 things - location and price. Yes it may be at a similar price bracket to others but are they actually selling, and if so, what for.
Our local EAs are all of a similar opinion that prices are or will be around 16-18% less than what they were in July 22.

Puts yours probably around £440k.

I’d out it up for offers over £430k and then see what the market is like over the next month or so.

If it doesn’t sell then you get to stay.

Yes, around the 420k - 430k mark sounds sensible.

mi-key

Sarah1Mitty2 said:

jonnydeppiwish! said:

It comes down to 2 things - location and price. Yes it may be at a similar price bracket to others but are they actually selling, and if so, what for.
Our local EAs are all of a similar opinion that prices are or will be around 16-18% less than what they were in July 22.

Puts yours probably around £440k.

I’d out it up for offers over £430k and then see what the market is like over the next month or so.

If it doesn’t sell then you get to stay.

Yes, around the 420k - 430k mark sounds sensible.

Why would they put it on for £45K less than comparable bungalows in the area? 

Sarah1Mitty2

mi-key said:

Sarah1Mitty2 said:

jonnydeppiwish! said:

It comes down to 2 things - location and price. Yes it may be at a similar price bracket to others but are they actually selling, and if so, what for.
Our local EAs are all of a similar opinion that prices are or will be around 16-18% less than what they were in July 22.

Puts yours probably around £440k.

I’d out it up for offers over £430k and then see what the market is like over the next month or so.

If it doesn’t sell then you get to stay.

Yes, around the 420k - 430k mark sounds sensible.

Why would they put it on for £45K less than comparable bungalows in the area? 

Because if the comparable bungalows are not selling they are overpriced as well.

mi-key

Yes, around the 420k - 430k mark sounds sensible.

Why would they put it on for £45K less than comparable bungalows in the area? 

Because if the comparable bungalows are not selling they are overpriced as well.

How do you know they are not selling? The OP didnt mention that, they just said they were on the market

Sarah1Mitty2

mi-key said:

Yes, around the 420k - 430k mark sounds sensible.

Why would they put it on for £45K less than comparable bungalows in the area? 

Because if the comparable bungalows are not selling they are overpriced as well.

How do you know they are not selling? The OP didnt mention that, they just said they were on the market

The OP has been trying to sell since last July, that is all that really matters, obviously people are not interested at the present price.

mi-key

Sarah1Mitty2 said:

mi-key said:

Yes, around the 420k - 430k mark sounds sensible.

Why would they put it on for £45K less than comparable bungalows in the area? 

Because if the comparable bungalows are not selling they are overpriced as well.

How do you know they are not selling? The OP didnt mention that, they just said they were on the market

The OP has been trying to sell since last July, that is all that really matters, obviously people are not interested at the present price.

They have only just reduced the price to offers over £465K. Do you ever actually bother reading posts people make? 

jonnydeppiwish!

mi-key said:

Sarah1Mitty2 said:

mi-key said:

Yes, around the 420k - 430k mark sounds sensible.

Why would they put it on for £45K less than comparable bungalows in the area? 

Because if the comparable bungalows are not selling they are overpriced as well.

How do you know they are not selling? The OP didnt mention that, they just said they were on the market

The OP has been trying to sell since last July, that is all that really matters, obviously people are not interested at the present price.

They have only just reduced the price to offers over £465K. Do you ever actually bother reading posts people make? 

I don’t want to get in the middle of your tiff with Mitty but I came to that price by looking at the comparables in the local area. The price was reduced almost 4 weeks ago and a lot of the other properties have all been reduced recently.