Timewasters

farhad1965

"Price is everything"

Conrad - you are RIGHT, price is a key factor. I agree. But Do I set the price or do I take advice from Estate Agents?

I was given a price range to start with. £420k at the top and £400k to sell quickly. After 2 months I dropped from £420 to £405 and then to £380k (as I am not greedy and I am realistic). This even under cut smaller properties nearby. In the same period of time £500k houses nearby are still stuck at that price and remain unsold. I have been to a few in that price range and they are far from immaculate (tired walls and decor, warped laminate floors).

We gutted our place in 1999 (couple had lived there for 40 years) and had it rewired, new windows, doors, real wood flooring, replastered and redecorated (no bizarre colour schemes), new boiler/radiators, new garage door, new kitchen, new bathroom, new showerroom, all wardrobes ripped out and replaced with new.

wisbech_lad

Isn't "best house on the street" the worst position to be in? In some ways. If others are 3 bedroom semis - then someone has to really think what the value of the 4th bed is to them vs buying a 3 bed in the same location.

Note that to sell your house, you need to attract people with 80,000 or more annual income. (unless they have massive equity from previous house) Are you/EA marketing specifically to high income earners, or scatter gun approach?

farhad1965

Note that to sell your house, you need to attract people with 80,000 or more annual income. (unless they have massive equity from previous house) Are you/EA marketing specifically to high income earners, or scatter gun approach?

Wisbech lad - I am in London, £400k property and upwards are here in abundance, pretty average really. My area is an affluent-ish (mainly Jewish) area. The black cab driver (3 doors down) has a brand new Porsche Boxter and Merc parked next to his cab outside the 3 bed semi! Apart from a one off detached 4 bed property 20 doors down that sold for £477k last month, we are the best house (most of the others have not been modernised in past 5-6 years, are smaller, dont have a garage etc).

Lesson learnt for me is to never buy in an average or uninspring road and be the best there. I should get into a more desirable street.

surfcat

farhad1965 wrote:

"Price is everything"

Conrad - you are tight, price is a key factor. I agree. But Do I set the price or do I take advice from Estate Agents?

That has to be one of the best Freudian slips I've seen when describing estate agents...