How should I price my house?

Conrad

Its a total buyers market, be prepared to reduce your price quickly. A correctly priced house will attract several viewers immediately. If u dont get viewers its time to reduce, but a word of warning; A lot of vendors are currently 'chasing the market down', that is, they hold - out for a price for too long then gradually reduce, but never catch the real market price point. I recall in the last crash some people on the market for years, when what they should have done is stomach a very keen price initially.

Ive just sold my last B2L property. On this one (a beutifull penthouse in a lovely old town with great schools) I lost £37000 in one year! Thats the real market.
Dont chase it, lead it.

nrsql

You could also rent out the property which you may be able to do very quickly - a lot quicker than selling anyway.
Could end up with a profit over the place you are renting at the moment.

It's worth contacting some rental agents and seeing what they say and maybe even putting it on the market to see what happens. It will save you losing money paying the mortgage and renting - but prices may have gone down by the time you come to sell.

cattie

Have a little bit of hope, I know a lot depends on where you live with the market right now, but 2 houses in my road have recently sold at the full asking price after being on the market for just a matter of weeks. Both are in immaculate condition, which no doubt helped, but it shows you there are buyers out there that are willing to pay a fair price for a well looked after & well presented property.

I hope you get a buyer of this type & not one who expects you to practically give the property away!

Squidgy

It's not in your face at all. It does sound quite snobby though, as in

"don't bother me unless you are prepared to pay what I want"

and personally if I had a budget of £145K and you put offers over £150K it would put me off even trying, even if you would accept my offer.

meanmachine_2

cattie wrote:

Have a little bit of hope, I know a lot depends on where you live with the market right now, but 2 houses in my road have recently sold at the full asking price after being on the market for just a matter of weeks.

Fogive me, but how do you know that?

Until they appear on nethouseprices, I normally take homeowners' boasts with a pinch of salt. (And I'm normally right to be suspicious)

But you're dead right. Good quality, attractive properties always sell, partcularly in a good catchment area.

dccarm

Squidgy wrote:

and personally if I had a budget of £145K and you put offers over £150K it would put me off even trying, even if you would accept my offer.

Isn't that the point of the "offers over" system? If I'm not willing to accept less than £150k then why would I want to hear an offer of £145k? As a seller I will be setting an offers over price, but I'll be setting it the the lowest price I will accept, that way I hopefully won't need to hear any silly offers, or have to put up with people chancing their arms. Of course, I am in Scotland, so "offers over" is the only game in town anyway

The_Bride_3

Thanks for your answers all. After carefull thought we decided to put a fixed price on the house, as we thought this may be the best way to go and many of your comments confirmed this
Fingers crossed for a quick sale.....

c1zero

Good luck with the sale, if it gets a bit sticky or you are up against the wall with the time thing, then you could consider offering an attractive incentive to make your property stand out from the crowd.
Be clear in what you are offering ie. buyer's fees, stamp duty or the like. There are no rules as far as I am aware so why not throw in the battered up old Ford Astra convertible jobby as well!
Best of success