30 Months on the market

Phirefly

TBeckett100

i tried to find your house, and the problem is clear, there is just too much choice at 225k in cornwall.

Bf109

Jorgan_2

As has been said, you may want to consider one of the agents that advertise in London or the Home Counties. One of my clients, who lives in Cornwall, told me of a property that was put on the market, an error was made when it was put on the internet, instead of £175,000, it was entered at £775,000. The next morning the agent received an e-mail from a London based buyer with a cash offer of the asking price, with a condition they exchanged in 28 days. The vendor was only too happy to oblige. I'm guessing the buyer hasn't heard of this site.

SquatNow

Phirefly wrote: »

how's that 10 characters?

10 spaces between the dots... but html spec ignores whitespace.

Fergie73

This thread prety much sums up the sheer lunacy of the British housing market, and housing policy generally.

Cornwall has hugh unemployment, low wages, there isn't work. Local people can't afford to buy property, priced out by a long shot. Meanwhile sellers are sitting on property for year, in the hope that some rich buyer from London will come along and pay a vastly inflated price for it.

:rolleyes: :mad: :huh:


Well at least I can safely say thank God I'm nowhere near Cornwall...

poppy10_2

Ai.

Go on, OP, post the Rightmove link and give us all [strike]a laugh[/strike] a chance to offer you some constructive advice.

Romani_Ite_Domum

Thanks for all your comments and advice and I agree with most of them but what is a boy to do?....... The whole market is overpriced. I find it amusingly ironical that having lived and worked in Cornwall all my life somehow I am now to blame for the housing problems down here!

A few considerations:
The original valuations in summer of 2005 were £225K, £250K and £250K+
We went on at £245K and had an offer of £235K in the first month. This chain collapsed. We also had a lot of interest and people who also made offers of £235K but not proceedable. In the new year, we dropped to £235K and changed agents. We again had lots of interest. In the summer of 2006 we had a firm offer of £230K and the place was off the market for a month.
The buyer pulled out as they decided on another area. It went quiet in the winter 2006 so we took it off the market. ( It's true about a property going stale) Also we had some very keen private buyers who lived in the village we agreed a price of £230K and they would market their place in the spring. They did this but couldn't sell. We went back on the market £235K with a new agent and also made improvements. Lots of interest. Some offers around £230K but unproceedable. Now I am pretty bearish about the housing market, but during this time, house prices should have gone up? ( and indeed some houses have). So by the summer 2007, we get an offer of £215K from an investor. After much deliberation, we accept and they pull out a week later. Then in October we get another offer and we agree £228K. We have been off the market since late October until a couple of weeks ago. We were ready to exchange before Christmas but knew the buyer wanted a new year exchange. He then disappeared. So we dropped the price another £10K and remarket. Again we have someone who really wants the place but has only just gone on the market in Bristol. They offered full asking price if we came off the market. We declined but told them we would be open to an offer if it would help sell their house.

So there we go. As much as I don't like it either, the market price is the market price. If that price is dictated by investment buyers or relocators then it would be very noble of me to drop the price by 40% to sell to a local wage person but reality is not like that. Of course if the whole market drops by 40% then that's a different matter and I would be very happy with this scenario.

I could well be overpriced as some have suggested and could find myself chasing the market down. I am surprised that we have 4 viewings in the last 2 weeks given the growing public awareness of the housing market being overvalued. I may drop again in a while. Not sure on the whole London agent thing though. I would much rather sell locally and support local business.

The loft idea I am looking into and although doable is not that easy. As we have spent much of this time with people wanting to buy the place, it keeps getting shelved.

Sorry I am not posting a link. This is an internet forum where sometimes a debate gets a little heated....which is fine. Would you want everyone here to know your actual address?

So the OP was to see if anyone else has been on the market for that long for amusement value.... guess I am on my own then?

poppy10_2

Romani_Ite_Domum wrote: »

So the OP was to see if anyone else has been on the market for that long

I did a google search to see if there was anyone else whose house had been on the market for 30 months, but all I found were these:

http://www.pricedout.org.uk/Forum/tabid/56/forumid/1/postid/7121/view/topic/Default.aspx

http://www.housepricecrash.co.uk/forum/index.php?showtopic=67332

:rotfl::rotfl::rotfl:

Kez100

We are in SE Cornwall, by the water, and it appears a strange market here too. There does seem to be plenty of salesbut not on the overpriced anymore.

We have a few properties for sale for ages and going nowhere but I always said they were - noticeably - too expensive and that was before the change in sentiment. However, those dropping in price seem to be selling when they get to something more realistic (and I am waiting for the figures to get reported so I can see what offer they actually took as well). Also those on at realistic prices seem to still be selling.

I suspect you are overpriced.