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  • FIRST POST
    • sx_turbo
    • By sx_turbo 19th Jun 18, 10:41 PM
    • 63Posts
    • 18Thanks
    sx_turbo
    House for sale 8 weeks and no viewings
    • #1
    • 19th Jun 18, 10:41 PM
    House for sale 8 weeks and no viewings 19th Jun 18 at 10:41 PM
    Hi I am after some advice,

    We have had our house on the market for 8 weeks and we haven't had any viewings as yet, the house seems to be priced about right, in regards to what else is around in the area.

    The pictures are alright and the house is well looked and and in good decorative order.

    Our estate agent seems to not have any clue, and has not provided any answers.

    We had 3 estate agents round and they all values the house at the same value, 240-250k.

    There has been other homes sold in our street over the past couple of years but these have been council owned and we're in such a poor state the council didn't want to spend money doing them up,so they sold cheap.

    An identical house to the back of us has a smaller garden, is mid terrace doesn't have the large extension and only has a single driveway and that sold at he beginning of the year for 225k,and was advertised for offers over 230k.

    We put ours up for 250k with the expectation people will make offers below the asking price.

    We have now dropped the price to 240k in the hope this may entice buyers.

    Everyone seems stumped.

    Can anyone offer thoughts?
    Last edited by sx_turbo; 21-06-2018 at 7:12 PM.
Page 8
    • buggy_boy
    • By buggy_boy 5th Jul 18, 12:00 PM
    • 537 Posts
    • 400 Thanks
    buggy_boy
    At least I managed to sell one, many recent FTB`ers will never manage that, not at "what it`s worth" anyway
    Originally posted by Crashy Time
    How did that work out for you? you have missed out on years of house price inflation and paid a fortune in rent... Genius move!!!
    Last edited by buggy_boy; 05-07-2018 at 12:37 PM.
    • Crashy Time
    • By Crashy Time 6th Jul 18, 12:27 PM
    • 6,523 Posts
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    Crashy Time
    How did that work out for you? you have missed out on years of house price inflation and paid a fortune in rent... Genius move!!!
    Originally posted by buggy_boy

    A fortune? We must have different ideas about what constitutes a "fortune" House price inflation only benefits people who can sell at the right time and find somewhere cheaper to live, other than that it benefits bankers and politicians only. People who have not sold by now are not going to get "what it`s worth"
    • caronoel
    • By caronoel 6th Jul 18, 12:55 PM
    • 882 Posts
    • 1,131 Thanks
    caronoel
    At least I managed to sell one, many recent FTB`ers will never manage that, not at "what it`s worth" anyway
    Originally posted by Crashy Time

    And what is the flat you sold in 1996 worth now? 4 times what you sold it for? 5 times? 6?

    Just think... you could be mortgage free by now, rather than renting a grotty bedsit flat paying someone else's mortgage, and wondering why you are still single in your late 50s?
    • Crashy Time
    • By Crashy Time 8th Jul 18, 1:28 PM
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    Crashy Time
    And what is the flat you sold in 1996 worth now? 4 times what you sold it for? 5 times? 6?

    Just think... you could be mortgage free by now, rather than renting a grotty bedsit flat paying someone else's mortgage, and wondering why you are still single in your late 50s?
    Originally posted by caronoel

    Sounds like you have been trying to sell for a lot longer than 8 weeks.......
    • buggy_boy
    • By buggy_boy 8th Jul 18, 10:10 PM
    • 537 Posts
    • 400 Thanks
    buggy_boy
    Sounds like you have been trying to sell for a lot longer than 8 weeks.......
    Originally posted by Crashy Time

    And the person that bought your flat is laughing all the way to the bank... Can you imagine what their reaction to be to find out you sold as you thought prices were going to crash and 20+yrs later the property is worth 5 times what you sold it for and you now rent a bedsit.... and then you tell them you post advising people to do the exact same thing or not to buy putting them at risk of making the same mistake as you?

    Thats like falling down a hole that you can't get out of and shouting up to people to jump because you don't want to be alone... I seriously hope over the years nobody has taken your posts seriously and made a huge financial mistake.
    • Crashy Time
    • By Crashy Time 9th Jul 18, 9:36 AM
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    Crashy Time
    And the person that bought your flat is laughing all the way to the bank... Can you imagine what their reaction to be to find out you sold as you thought prices were going to crash and 20+yrs later the property is worth 5 times what you sold it for and you now rent a bedsit.... and then you tell them you post advising people to do the exact same thing or not to buy putting them at risk of making the same mistake as you?

    Thats like falling down a hole that you can't get out of and shouting up to people to jump because you don't want to be alone... I seriously hope over the years nobody has taken your posts seriously and made a huge financial mistake.
    Originally posted by buggy_boy

    Where was this mythical flat of mine bought and sold so that it is now worth multiples of it`s original value?
    • Crashy Time
    • By Crashy Time 12th Jul 18, 1:32 PM
    • 6,523 Posts
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    Crashy Time
    Obviously no one knows, so they are just making stuff up to fit a narrative?
    • ReadingTim
    • By ReadingTim 12th Jul 18, 3:08 PM
    • 2,934 Posts
    • 4,319 Thanks
    ReadingTim
    Obviously no one knows, so they are just making stuff up to fit a narrative?
    Originally posted by Crashy Time
    Including yourself, one assumes...
    • westernpromise
    • By westernpromise 12th Jul 18, 5:17 PM
    • 4,263 Posts
    • 5,543 Thanks
    westernpromise
    It doesn't matter where your flat was, Crashy.

    According to Zoopla any Edinburgh property has gone up 240 to 250% over the last 20 years.

    Hence eg this 2-bed place in Waverley
    https://www.zoopla.co.uk/property-history/5-waverley-place/edinburgh/eh7-5rz/40699216
    that Zoopla reckons is worth 200k today would have cost 57k 20 years ago.

    You sold up your flat for 28% of its current value. At an average mortgage rate of say 4% over 20 years, you'd have paid 300 a month to own it by now.

    Instead you've paid 400 a month to live in an HMO bedsit and own nothing.

    Just think. If you'd bought (or kept) such a flat at 57k back then, you would now own the roof over your head, you'd have spent 20 years living in a 2-bed flat rather than a bedsit in an HMO, and you could have saved the monthly 100 difference (24,000!) as well. You wouldn't have to worry about not being able to sell it because even if you gave it away for 0 you'd still be ahead of where you actually are.

    Has renting enabled you to save up more than 224k, Crashy? I doubt it.

    Maybe think about that next time you're giving people advice on the biggest transaction of their lives.
    Buying a house, if you believe the market has a way to fall, or if you are paying sill asking prices ( like some sheeple ) or if you are buying in London, is now a massive financial gamble!!!!! - June 8, 2012 by TheCountOfNowhere
    • Crashy Time
    • By Crashy Time 13th Jul 18, 1:14 PM
    • 6,523 Posts
    • 2,440 Thanks
    Crashy Time
    It doesn't matter where your flat was, Crashy.

    According to Zoopla any Edinburgh property has gone up 240 to 250% over the last 20 years.

    Hence eg this 2-bed place in Waverley
    https://www.zoopla.co.uk/property-history/5-waverley-place/edinburgh/eh7-5rz/40699216
    that Zoopla reckons is worth 200k today would have cost 57k 20 years ago.

    You sold up your flat for 28% of its current value. At an average mortgage rate of say 4% over 20 years, you'd have paid 300 a month to own it by now.

    Instead you've paid 400 a month to live in an HMO bedsit and own nothing.

    Just think. If you'd bought (or kept) such a flat at 57k back then, you would now own the roof over your head, you'd have spent 20 years living in a 2-bed flat rather than a bedsit in an HMO, and you could have saved the monthly 100 difference (24,000!) as well. You wouldn't have to worry about not being able to sell it because even if you gave it away for 0 you'd still be ahead of where you actually are.

    Has renting enabled you to save up more than 224k, Crashy? I doubt it.

    Maybe think about that next time you're giving people advice on the biggest transaction of their lives.
    Originally posted by westernpromise

    I didn`t own a flat, and it wasn`t in Edinburgh, so you need to re-crunch your numbers (again)
    • AnotherJoe
    • By AnotherJoe 13th Jul 18, 1:25 PM
    • 10,617 Posts
    • 12,157 Thanks
    AnotherJoe
    Where was this mythical flat of mine bought and sold so that it is now worth multiples of it`s original value?
    Originally posted by Crashy Time

    You tell us.
    • Crashy Time
    • By Crashy Time 13th Jul 18, 1:42 PM
    • 6,523 Posts
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    Crashy Time
    You tell us.
    Originally posted by AnotherJoe

    Why do you need to know?
    • _CC_
    • By _CC_ 13th Jul 18, 1:51 PM
    • 317 Posts
    • 336 Thanks
    _CC_
    Given lots of people exaggerate on the internet when anonymous, especially trolls/keyboard-warriors, I'd suspect a HMO bedsit in Edinburgh is s step up from CrashyClown's actual situation.



    Living with his parents in his 50's my be closer to the mark. Would certainly explain his jealously and bitterness.
    • Crashy Time
    • By Crashy Time 13th Jul 18, 2:02 PM
    • 6,523 Posts
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    Crashy Time
    http://www.propertyindustryeye.com/sellers-in-painful-position-as-asking-price-cuts-hit-six-year-high/
    • Crashy Time
    • By Crashy Time 16th Jul 18, 6:39 PM
    • 6,523 Posts
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    Crashy Time
    Any viewings OP, have you dropped the price, or raised it, or changed how you present the house?
    • sx_turbo
    • By sx_turbo 11th Aug 18, 12:45 AM
    • 63 Posts
    • 18 Thanks
    sx_turbo
    Any viewings OP, have you dropped the price, or raised it, or changed how you present the house?
    Originally posted by Crashy Time
    Had agents round, they all said the same crap, blew smoke up my !!!! couldn't understand why the house had no interest bla bla.

    Even when requesting a gaurantee sell price they all said the same 240k and said it was the estate agent not working.

    So switched to an independent company and told them to reduce the price to 235k they advised not to go to 230k if we want/need 230k. Tried to discuss lowering the price further but agent is quite reluctant and so is the neighbours.

    A week later and no viewings but over 450 rightmove viewings. Agent is stumped,

    My neighbors are now putting there's on the market for 225-235k it's not as big as ours or tastefully decorated, will see how they get on.
    Last edited by sx_turbo; 11-08-2018 at 12:48 AM.
    • Mickygg
    • By Mickygg 11th Aug 18, 8:14 AM
    • 1,430 Posts
    • 1,174 Thanks
    Mickygg
    This same thing happened to me. Had 3 estate agents value my house at 325k to 330k I went on at 325k. Had a couple of viewings initially then dead. I dropped to 310k and sold in week.

    Estate agents always overvalue to get your instruction.
    Originally posted by SG27
    Not true they don't all do this. Many EAs want to sell ASAP rather than risk no sale and vendor moves to another agent.

    With Fxxxxxs yes you are right.
    • SG27
    • By SG27 11th Aug 18, 7:47 PM
    • 2,454 Posts
    • 1,729 Thanks
    SG27
    Not true they don't all do this. Many EAs want to sell ASAP rather than risk no sale and vendor moves to another agent.

    With Fxxxxxs yes you are right.
    Originally posted by Mickygg
    You can see why they do do it, if one of those had valued at 310k which one would you choose? I have no idea of the value I need them to tell me.
    • Mickygg
    • By Mickygg 11th Aug 18, 9:45 PM
    • 1,430 Posts
    • 1,174 Thanks
    Mickygg
    You can see why they do do it, if one of those had valued at 310k which one would you choose? I have no idea of the value I need them to tell me.
    Originally posted by SG27
    Fair enough. I do my own research and before EA comes round I know the value.

    if you simply go for the EA that quoted the highest amount without researching the value of your home then you will be like the OP.

    It's like anything in life, just because someone tells you something is worth x because they want your business you have to DYOR to check its reasonable.
    • Crashy Time
    • By Crashy Time 12th Aug 18, 8:39 PM
    • 6,523 Posts
    • 2,440 Thanks
    Crashy Time
    Had agents round, they all said the same crap, blew smoke up my !!!! couldn't understand why the house had no interest bla bla.

    Even when requesting a gaurantee sell price they all said the same 240k and said it was the estate agent not working.

    So switched to an independent company and told them to reduce the price to 235k they advised not to go to 230k if we want/need 230k. Tried to discuss lowering the price further but agent is quite reluctant and so is the neighbours.

    A week later and no viewings but over 450 rightmove viewings. Agent is stumped,

    My neighbors are now putting there's on the market for 225-235k it's not as big as ours or tastefully decorated, will see how they get on.
    Originally posted by sx_turbo

    You mean the neighbour is reluctant for you to lower your price any further?
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