Selling my house in March 2008 - how long??

oswestry123

Hi Everyone,

Our house went on the market yesterday with a local estate agent. Its a three bed link detached with garage/gardens etc, new kitchen and bathroon in the market town of Oswestry. Its on for the bargin price of £155k which is a lot lower than other three beds in the area that are averaged around 160k which are not up to the same standard.

This is the first time we have sold a house and as its priced to sell fast I was kinda hoping I would of had some calls today from the Estate Agents requesting viewing etc.

When can I expect to get some viewing? What is the norm???

I am pretty impatience I know!!

Also what is considered a quick sale time wise in the current market??

Any comments you have would be great.

Also how long after its on the Estate Agents website does it update onto rightmove??

Thanks for all your comments.

lil_me

My parents property in what is classed as a very nice area has been on the market for over a year, no viewers, no offers. Hearing about the same story from many people. They have now dropped the price £30k under the estate agents recommendations and still no interest. People just don't seem to want to move/buy.

Suppose like everywhere it depends what is available in the area, what types of people are looking etc aswell as the types of buyer (mortgages becoming that bit more difficult)

neas

How many casualties of the HPC will there be? How many sad faces .

glen8

be prepared to keep dropping and dropping

If houses are on the market for 160k already then you'll not get 155k

I'll give you an example.............a couple purchased a 4 bed detached near my parents last october for 200k. They have now divorced and put the house on the market.
It's up for 170k for a quick sale yet they've had no viewers. The house is stunning and better than ones higher priced.

Welcome to 2008

oswestry123

I just don't understand it, surely its the perfect time to move and grab a bargin as if you are moving to another house they will have to expect a lower offer also.

I really can't see this dip in prices lasting with all the big bonus' coming up soon from the city workers which always spreads around the country with the end of the financial year.
If I was a first time buyer I would be getting a bargin this spring, and also I heard that in spring sales seem to go up.

Even though we are probably getting less for our house now than we would of a year ago I still think we will be better off when we move as we will get the house we want for less too.

Basically I never really listen to the predictions as they are usually wrong and if i buy a house today anywhere in the UK its a fact that in 5 years time it will be worth a lot more than in 2008. Prices might take a temporary dip this year but seriously folks it won't last so its perfect time to sell/move/buy!!

When we first got our house in 2002 friends/relatives said OMG you are being ripped for that you will never make money on that prices are going down bigtime, we were going to wait a year or so but I'm so glad we followed our own thoughts and ignored others who supposedly knew better!!!:beer:

beingjdc

Are you winding us up or do you actually have a house to sell?

I know some city traders. They're iffy about next year's bonus, but even if it's great, I don't know any of them who are looking for a 3-bed in Oswestry.

Also, why is it 'a fact' that a house will be worth a lot more in 2013 than 2018? In Winter 1993 houses were worth over 10% less than in Winter 1988, and neither of those were the peak or the trough.

kunekune

It's not that easy to borrow money right now. That is also part of it. Oh, and the hope that prices will drop even further!

Doozergirl

When you say it went on the market yesterday, what does that mean?

To try and be realistic... I would normally expect viewings to start about a week after the agent takes photos. It takes time to hit the websites, the papers, time even for EAs to get details out to their database. Even in a string market you have to give it a few days.

So, one day in, I wouldn't start panicking just yet.

A good house at a good price will sell.

Davesnave

I sold my house this week for £10k more than I was offered last September (marketing it just before Northern Wreck!) I got 4% below asking. I took it off the market over the winter, then went on again this month.

My experience goes against general wisdom, but individual locations & properties are still bucking the trend, at least in the short term.

Last September I had about ten viewings in a few weeks, then there was NR, then nothing! This time, two viewings in a week, followed by a decent offer. It isn't just the number of bodies through the door that matters; it's finding that person who values whatever it is that your house has. That could be a keen price of course. In my case it was location.

I wouldn't be so sure that everyone will be dropping their price and being 'realistic' yet. Some, like you, will. Others won't. Even you are still reciting the mantra about prices going up in the long term. Personally, I think the 2012 price will be lower, not higher.

I'm just glad to be out. It's either rental now or a special project, like a renovation on something not 'off the peg.' Funnily enough, one option I have is a place near Oswestry!

tr3mor

Twice as long as half of it's length!

beingjdc wrote: »

Are you winding us up or do you actually have a house to sell?

It does sound like a wind up really.

phlash

You're right, you don't understand.

You really need to do some reading!

For the average person, this is the biggest financial commitment, its not a game, and will make a fool out of anyone who thinks it is.

How old are you? I think this may have some bearing, you may need to brush up on history, then come and see if you agree with your sentiment below.

As an investor and employee in the finance world, "wake up!"

oswestry123 wrote: »

I just don't understand it, surely its the perfect time to move and grab a bargin as if you are moving to another house they will have to expect a lower offer also.

I really can't see this dip in prices lasting with all the big bonus' coming up soon from the city workers which always spreads around the country with the end of the financial year.
If I was a first time buyer I would be getting a bargin this spring, and also I heard that in spring sales seem to go up.

Even though we are probably getting less for our house now than we would of a year ago I still think we will be better off when we move as we will get the house we want for less too.

Basically I never really listen to the predictions as they are usually wrong and if i buy a house today anywhere in the UK its a fact that in 5 years time it will be worth a lot more than in 2008. Prices might take a temporary dip this year but seriously folks it won't last so its perfect time to sell/move/buy!!

When we first got our house in 2002 friends/relatives said OMG you are being ripped for that you will never make money on that prices are going down bigtime, we were going to wait a year or so but I'm so glad we followed our own thoughts and ignored others who supposedly knew better!!!:beer: