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Anyone selling their house

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I know that it's a different market in different areas, but i am curious to see what others are experiencing. Last time i sold was in 2005, put my house up for sale, we had a stream of viewings a…
skellysgirl Avatar
6y, 3w agoPosted 6 years, 3 weeks ago
I know that it's a different market in different areas, but i am curious to see what others are experiencing.

Last time i sold was in 2005, put my house up for sale, we had a stream of viewings and sold within 6 weeks, this time not even a viewing...it has only been a month but expected at least a it of interest.

Im just curious is the Market as bad as the papers make out, one day they are saying its up, the next its down.

Any advice...other than lower the price.
skellysgirl Avatar
6y, 3w agoPosted 6 years, 3 weeks ago
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1 Like #1
Rent it out?
#2
My Dads selling his at the moment it's been on the market for just over a week & has had quite a few viewings already :)
#3
Lulu'sMammy
Rent it out?


Need to sell to move, i want to be out the area, I'm not in a huge rush to sell, it's just now its up, its sort of like unfinished business and I feel like something should be happening.
1 Like #4
Lulu'sMammy
Rent it out?


Not so easy though if you nrrd the funds to go towards another house .
Its a well known fact op that people look/buy houses more in the lighter summer months , so things may start to look up soon as the weather becomes milder , good luck anyway x
#5
skellysgirl
Lulu'sMammy
Rent it out?
Need to sell to move, i want to be out the area, I'm not in a huge rush to sell, it's just now its up, its sort of like unfinished business and I feel like something should be happening.

Where you looking at going? Its lush where i am, come up here...if your quiet lol x
#6
im in similar boat only been 2 weeks but not even a sniff of a viewer and like you say 5 years ago we had around 15 viewers in 1st week.

im not lowering my price either if it doesnt sell at it value it doesnt sell
#7
Lulu'sMammy
skellysgirl
Lulu'sMammy
Rent it out?
Need to sell to move, i want to be out the area, I'm not in a huge rush to sell, it's just now its up, its sort of like unfinished business and I feel like something should be happening.


Where you looking at going? Its lush where i am, come up here...if your quiet lol x


Maybe G Ayton, guisbrough, stokesly, way, its not too bad where I am, just ready to move on to something different now

Edited By: skellysgirl on Feb 27, 2011 20:59
#8
shopstilldrops
Lulu'sMammy
Rent it out?
Not so easy though if you nrrd the funds to go towards another house .Its a well known fact op that people look/buy houses more in the lighter summer months , so things may start to look up soon as the weather becomes milder , good luck anyway x

we were thinking the same it was in summer we sold our last flat and bought this house
#9
When you guys sell your house and need a good conveyancing solicitor, let me know
banned#10
lower the price then.


(lol read last bit of op.. you have all the advice you need already)

Edited By: bykergrove on Feb 27, 2011 21:29
banned#11
^^^^ bet you are glad he posted %?%$£%>"!
#12
do you live in a gippo area?...maybe everyone is a Jeremy Kyle benefit chav and don't have the moolah
#13
Out of interest what kind of rate did you get from the estate agent. Only had one valuation so far but the agents after close to 2% (fixed price)
#14
skellysgirl
Lulu'sMammy
skellysgirl
Lulu'sMammy
Rent it out?
Need to sell to move, i want to be out the area, I'm not in a huge rush to sell, it's just now its up, its sort of like unfinished business and I feel like something should be happening.


Where you looking at going? Its lush where i am, come up here...if your quiet lol x


Maybe G Ayton, guisbrough, stokesly, way, its not too bad where I am, just ready to move on to something different now


we stay in a cottage in middleton upon leven 5 mins from stokesley nice part of the world off topic soz
#15
jamstaruk1972
im in similar boat only been 2 weeks but not even a sniff of a viewer and like you say 5 years ago we had around 15 viewers in 1st week.

im not lowering my price either if it doesnt sell at it value it doesnt sell


LOL...in which case if you NEVER lower the price then basically it's worthless to anyone else except you ...and will NEVER sell.....LOL

Edited By: Mecoconuts on Feb 27, 2011 21:45
2 Likes #16
Realistically priced houses sell. Overpriced houses don't. If no-one has even bothered to view, then the house is probably vastly overpriced. Since you don't want to lower the price, you probably won't sell the house.
1 Like #17
Sold our house in October, for full asking to our first viewers, was on the Market for 3 days, the for sale board us up about 10minutes before we sold it. After viewing the house the couple walked to the bottom of the garden and back, and offered the the full amount, I was speechless.
We were very lucky to find the right buyers at such an early stage of the sale. Just stick with it and the right buyer will come along. Good luck.
#18
where i am in the South Wales Valleys some areas are much better then others, my street alone at Christmas had 10 houses up for sale and they've all gone, highly priced to.
my old street houses are on the market for months .
the one thing i have noticed more , the cheap run down houses are selling much faster then the ready to move into, and for more then they are worth to be honest.
There was one on my way to school that just had the 4 walls and a roof and it sold for 85K thats really high for my area on a shell of a house
ready to move in houses are priced averagely between £75k & £150K depending on what area
#19
6 houses in my street were on the market for months and all were sold this last fortnight, coincidentally it was around the time the sun started to peek out again.
#20
we are in the process of buying. dont need to sell to move....i mean we will eventually have to sell it, but got the cash to start a mortgage on the bigger one (dont want to be in a chain, so that if the right thing comes along we can snap it up and then sell ours in good time).

found that there isnt a great deal coming on in the market in kent.... my friend is selling and her place was on at 200k. they lowered it to 185k and had loadsa viewings and someone is willing to pay full price!!

have spoken to a few agents and looks like its 2% to sell with the big agents or a bit lower with the lesser known ones...but to be fair they advertise on rightmove, so thats the main thing right?

we are hoping/thinking of buying a bellway new home so can PX our place...job done!!!
#21
[/quote]LOL...in which case if you NEVER lower the price then basically it's worthless to anyone else except you ...and will NEVER sell.....LOL [/quote]
what? my house has been valued at at a certain price the potential buyers will see the home report and thus see its value, if they arnt prepared to pay the price i wont sell as i have no need too


explain how it will NEVER sell please?
#22
It feels like im hearing 2 very different sides
My house is priced quite reasonably, i know it's only a commodity, like everything else people will only pay what it's worth in the Market.

I'm just hearing some say yes they are going, some saying, they are just not budging, i have a house which has some nice assets but still priced low, and al everyone keeps saying is you'll have no problem selling, the EA said they have had loads of interest but none have turned into viewings.

I am hoping the sun will bring change

Edited By: skellysgirl on Feb 27, 2011 22:20
banned 1 Like #23
#24
jamstaruk1972
LOL...in which case if you NEVER lower the price then basically it's worthless to anyone else except you ...and will NEVER sell.....LOL [/quote]

what? my house has been valued at at a certain price the potential buyers will see the home report and thus see its value, if they arnt prepared to pay the price i wont sell as i have no need too






explain how it will NEVER sell please?[/quote]


Valued by some optimistic Estate Agent no doubt that wanted to get you on their books, if a property is valued correctly you would have people viewing it.
1 Like #25
jamstaruk1972
LOL...in which case if you NEVER lower the price then basically it's worthless to anyone else except you ...and will NEVER sell.....LOL [/quote]

what? my house has been valued at at a certain price the potential buyers will see the home report and thus see its value, if they arnt prepared to pay the price i wont sell as i have no need too


explain how it will NEVER sell please?[/quote]

There has been a trend for years of estate agents bumping up the market and valueing houses at a much greater price than they are actually worth.

It is now deffinetly turning into a buyers market, with many sellers having to lower their price.

My parents will be selling their house soon, they paid just under £20k for it back in 1980, and my dad says what ever they make over that is profit. He doesn't care if it's worth £200k now, as he says the house is worth what somebody is prepared to pay for it.
#26
Some places do sell quite quickly. I rent this house and was told that it was due to go for sale, it was up on rightmove.co.uk on the Sunday, I got a call on the Monday asking for a viewing which then got backed out of as the flats right at the entrance to my road are a bit rough and she didn't make it down to here before making her mind up. About a week later someone else came to view and within 24 hours I got a call saying its been sold at full asking price and I have 2 months to get out. I think the owner is about £10k down over what he brought it for 3 years ago though.
#27
Inactive
jamstaruk1972
LOL...in which case if you NEVER lower the price then basically it's worthless to anyone else except you ...and will NEVER sell.....LOL
what? my house has been valued at at a certain price the potential buyers will see the home report and thus see its value, if they arnt prepared to pay the price i wont sell as i have no need tooexplain how it will NEVER sell please?[/quote]Valued by some optimistic Estate Agent no doubt that wanted to get you on their books, if a property is valued correctly you would have people viewing it.[/quote]

theirs a difference between an estate price and an ACTUAL survey which i have .

i know estate agents bump up what they think house is worth,which is why i dont actually care what they have said ,my paid for survey/valuationis a lot less than estate agents guestamates
#28
jamstaruk1972



theirs a difference between an estate price and an ACTUAL survey which i have .

i know estate agents bump up what they think house is worth,which is why i dont actually care what they have said ,my paid for survey/valuationis a lot less than estate agents guestamates


It doesn't really matter who valued it, if it is not realistically priced, then potential buyers will buy something else.

It is a buyers market.
#29
tinkerbell28
I'm with whoever said on here, realisitc prices sell, you need to be competitevly priced, it's a buyers market for sure.

A lot of sellers are deluded and you can see this from this thread, comparing to things 5 years ago when the boom peaked!!!

We have high unemployment, a recession, heading towards a double dip, lots of people losing jobs, lots of bad credit and now at last, not everyone can get a mortgage. Mortgage lending is at it's lowest it's ever been.

Things are going to get a lot worse too when the real cutbacks start taking affect from Apr11 beyond 2013.

Lots of sellers are still living like it's 5 years ago and a sellers market. It's not it's a buyers market, and will become more so in the coming years. Hold on for the ride.


I am not deluded and i am not actually comparing to 5 years ago, i am just trying to gaIn a realistic picture of the Market to help me make decisions.

I agree house prices have been too high, and I am also aware the lower i sell, the lower I buy, saving me money overall.

But at the same time i am getting a little frustrated at those out there wh are wishfully expecting the market to drop by major amounts, i dont think it is going to happen, you need to look at the past economics, i bought at a low, in a situation similar to this, i didn't expect things to improve but they did, giving me a return. Regardless of recession people still need a home that fact can not be changed.
Plus do you realise if house prices drop too much that effectively that leaves a lot of people in negative equity, in turn the banks in a lot of debt, and in turn a liability to economic stability, this has been on of the biggest factors in ireland I believe. Do you really think the government will let it get that far, in the 90s there was easing with tax relief on mortgages, it helped everyone.

The housing Market will play a big part of the recovery, house prices plummeting will be a negative effect.

Edited By: skellysgirl on Feb 28, 2011 11:03
#30
tinkerbell28
Negativy equity does not matter unless you need to sell. Lots of people are in stupid amounts of debt they can't afford and mroe job losses are on the way.

What goes up, must come down. Trying to compare the market and it's responses to 5 years ago is futile, totally.

Yes I do think the govt will let it get that far, and it's sensible. Hence why they are capping things like housing benefit, so landlords can't charge stupid rents at the expense on the tax payer. Rents will fall, so will houses. The reason the country is in the crap it is, is because people used houses as a tool for speculation and investment, not as roof over their heads. So everyone payed way over the odds for houses, woth mortgaged they couldn't afford, and they did not account for things like interest roses, recession, etc. They thought the good times would last.

You can't compare what happened to when you sold 5 years ago (sellers market) to today (buyers market). Otherwise you'll just frustrate yourself, it's a different ball game.


As I said earlier, i am not trying to compare to 5 years ago i realise that it is a totally different Market, nor am i looking to forecast fire of the Market, i a basically looking at base level to see what other sellers are experienceing.
#31
I know a couple who have just had a certain house sale fall through. Times are tight and gonna get tighter.
Agree with all Tinks says.
Add to that possible rises in the interest rate and ever increasing fuel costs which increase the cost of going to work for most people and its easy to see why there are not too many people embarking on expensive house purchases right now.
As has been said already, it IS a buyers market and regardless of how nice your house is, if you need to sell you will have to be realistic in what you can hope to achieve. If you don't need to sell then maybe you can ride out the current market conditions.
#32
If I were in your situation op I would give it around 8-10 weeks marketing at the current price and then consider lowering the asking price if you have still not had any viewings. The market is slower at the moment, some areas are slower than others but hopefully if we have a couple of bright weekends it should start to pick up a little
banned#33
At least you don't need to buy a pointless home information pack.
#34
caz1cool
If I were in your situation op I would give it around 8-10 weeks marketing at the current price and then consider lowering the asking price if you have still not had any viewings. The market is slower at the moment, some areas are slower than others but hopefully if we have a couple of bright weekends it should start to pick up a little


thats what i was thinking
#35
house prices are still over the odds.
#36
Just out of curiosity, has the OP compaired prices to similar houses in the same street? Pop on rightmove and you can see what others have gone for, maybe see if you can get an average price over the last year. If yours is way over then maybe it would be best to drop the price after a month or 2.

You'll have to be in for the long haul on this sale i feel. Mortgage deals for 1st buyers are still pretty rubbish, people are reluctant to move through fear they won't have a job at some point, and with not many companies recruiting at the moment there is a lack of people moving because of a new job/promotion.
#37
It might be worth taking it off the market for a few weeks, and then the agent can remarket as a 'new instruction' in a month or so when the sun is out a bit more - you would need to ask your agent how long it needs to be off the market for to count as a new instruction ... would probably look better than it still being on there in a months time and the agent has to say it's been on a couple of months.

People do tend to look more towards Easter, so might be worth it.

EDIT - also are you marketing at the price the agent suggested?

Edited By: Laffy42 on Feb 28, 2011 17:50
#38
Mr-Smooth
Just out of curiosity, has the OP compaired prices to similar houses in the same street? Pop on rightmove and you can see what others have gone for, maybe see if you can get an average price over the last year. If yours is way over then maybe it would be best to drop the price after a month or 2.

You'll have to be in for the long haul on this sale i feel. Mortgage deals for 1st buyers are still pretty rubbish, people are reluctant to move through fear they won't have a job at some point, and with not many companies recruiting at the moment there is a lack of people moving because of a new job/promotion.


I cant i have a pretty unusual house, i live on a council estate, they are mostly all bought now, its not bad where i live, mostly older people around me, but the owner before me heavily extended it, adding a garage, utlity room, study, bedroom, and large bathroom. and drive.

Mine is the only close by like this, so i cant really compare, there are some in neighboring areas, but mostly private estates, or smaller 4 bed. Thats why i am surprised i have not had any interest, it has the potential to be 5 bed, its a semi with large enclosed gardens and parking, and i only have up for 20k more than the going price for standard 3 bed LA house, i was thinking there is always someone with too many kids and not enough money.
#39
skellysgirl
I cant i have a pretty unusual house, i live on a council estate, they are mostly all bought now, its not bad where i live, mostly older people around me, but the owner before me heavily extended it, adding a garage, utlity room, study, bedroom, and large bathroom. and drive.

Mine is the only close by like this, so i cant really compare, there are some in neighboring areas, but mostly private estates, or smaller 4 bed. Thats why i am surprised i have not had any interest, it has the potential to be 5 bed, its a semi with large enclosed gardens and parking, and i only have up for 20k more than the going price for standard 3 bed LA house, i was thinking there is always someone with too many kids and not enough money.


There will always be a ceiling price for the road - it is better to be the worst house on the best road than the best house on the worst road! GIven a choice (which there is a lot of at the moment for buyers) most people will choose the better area.

Are you marketing at the price your estate agent recommended?
#40
Laffy42
skellysgirl
I cant i have a pretty unusual house, i live on a council estate, they are mostly all bought now, its not bad where i live, mostly older people around me, but the owner before me heavily extended it, adding a garage, utlity room, study, bedroom, and large bathroom. and drive.

Mine is the only close by like this, so i cant really compare, there are some in neighboring areas, but mostly private estates, or smaller 4 bed. Thats why i am surprised i have not had any interest, it has the potential to be 5 bed, its a semi with large enclosed gardens and parking, and i only have up for 20k more than the going price for standard 3 bed LA house, i was thinking there is always someone with too many kids and not enough money.


There will always be a ceiling price for the road - it is better to be the worst house on the best road than the best house on the worst road! GIven a choice (which there is a lot of at the moment for buyers) most people will choose the better area.

Are you marketing at the price your estate agent recommended?



I agree, there is only so much people will pay, i had 3 valuations, 2 said the same, and the 3rd said 5k more, so i went with the 2 lower.

I have tried to lower it so it's affordable to both first time buyers, second time, and those downgrading finance wise. I am well aware i cannot compete with the private estates, but its stupid to price it along with the rest of the street, when i am the only one with all the extras, plus extra parking space and bigger garden.

It's a really spacious house and all my friends have said ah you'll have no problem selling that, it's basically a large family house but starter price in my eyes. I know lots of people who have paid 25k more for 2bed less and a titchy living area, I suppose really it's just waiting for the right people, It is not going to be a couple or someone with a small family, it's just a matter of the right people.

As I said im not in a rush, im just curious to see what others are experiencing. It's only been up for 5/6 weeks. Its just i feel like i am on alert ready to tidy at any time, it gets tiring, plus i feel a bit on hold, hubby does not want to book hols etc.

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