scoobynutta555

Noticing a few sold signs up around recently. Thinking of putting one of the houses back on the market next spring (before the bloody HIP runs out). Is anyone selling noticing any more interest in their property or have sold theirs?

Instersting findings on this poll, buyer enquiries are up for the first time in 2 years. Also, the number of mortgages taken out have risen.

House buyers tempted back as prices fall and interest rates drop - The Scotsman

SunnySideUp

If you market at the rigfht price, you will get interest .... be too high and you will sit alone.

It has always been the same rule.

scoobynutta555

Thanks for that insight.

TopBanana

Cheaper mortgages can only help, but don't expect a major change. It will get much worse again next year when unemployment really picks up.

SunnySideUp

Sorry for stating the obvious, but I am active in the market at the moment and the only stuff attracting attention is that which has a price tag which is very competitively priced.

Don't even think of marketing a property at more than the houes currently on the market - needs to be 15% lower and you will generate a lot of offers.

scoobynutta555

I tried earlier this year, but nothing much happened, and that was at 10k less than the valuation. I'd be happy selling at a further 10k off. I'm in no rush to sell TBH. The house has no mortgage and I rent it out. I don't want to panic sell though for less than what I deem the house to be worth.

Just recently sold an Impreza for £1.5k less than I was expecting. But cars are an altogether different proposition.

Jye

I'm active in the market myself, but only in the 3 - 4 million price bracket.

I doubt these sort of properties will suffer as much due to the land / hunting and fishing rights, plus the history etc.

I recently viewed one property at 2.5 mill, but it seemed a bit over priced due to the lack of grouse / pheasants.

Perhaps I'll just buy a brown new build and save a few bob

SunnySideUp

Cars are exactly the same at the moment to be honest.

Just bought my daughter a 3 year old new shape MX5 for pocket money, looking to buy another property and the same rules apply.

Ask too much (whatever you may think its worth) and you get zero interest, vultures are circling at the moment and they will swoop down on bargains. They are the only ones circling presently.

If you are renting then I would sit it out and hope it improves.

Jye

I fear this is true, my Bentley Arnage went for 50K under list. Gutted I was

NotoriousREV

You'd need your head read selling now under those circumstances.

nixxon

Vendors have finally realised that, Yes, the value of their house has, indeed, fallen, just like everybody else's!

SunnySideUp

Spot-on ..... it is just in the last few weeks that vendors have given up and are adjusting their prices.

An agent where I am looking has announced an 'End of Year Sale' knocking about 10% off a selection of their houses ...............

........... but only for this weekend!!

Yeah, right!

We have a way to go yet before the level of asking prices meets the expectations of buyers ...... I'm sitting waiting to buy the right properties

nixxon

The house next door has been on the market for just over a year. Price has dropped from £5 mill to £4.25 m, to £3.75.
Still no takers.
One up the road still on market after 18months, despite dropping from £4.5 to £3!
Everybody's affected!

scoobynutta555

An interesting comment being as you've no idea what I intend to do with the proceeds

Jye

Thankfully I can pick and choose. How many pheasant per hectare does this property have?

angrynorth

This is true.

PaulC72

To provide you with a more serious post, we have just completed the sale of our property, we had during the course of the 'for sale' period had plenty of interest although the viewers were coming through the door, there was most definately a lower %age than last year.

Buyers are still there and they are buying , as said before if priced correctly houses are selling, we priced ours correctly after the stupid agent valuations, so we took control of the price, then you need to be flexible with your acceptable figure as even on a properly priced house buyers will still offer what they are willing to pay.

How much negotiation you then do is down to you both.

I think the key is to set your lowest limit and then see what happens get the people viewing with the agents on no sale no fee then set a time limit on your next move.

At the end of the day it will cost you nothing to test the market especially if your HIP is already in place, but if the offer comes in you have to be prepared to make the decision.

It is harder at the moment but our chain consisted of an investor, first time buyers, second time buyers and us who were not relying on the sale for a move {second house}

Good luck

unclebuck

I have to agree as well. That's probably the best advice regarding the housing market - especially at the upper end - that I've read on here.

andy97

iTrader: (1)

We, the misses and I are thinking of buying a commercial property. We will be offering 25% less asking price as the first bid. Its a falling market at the moment and a good time to haggle big.

NotoriousREV

Well obviously if you want to sell a traditionally appreciating asset in during unfavourable market, that's entirely up to you, especially one that's generating income. However, if what you intend to do with proceeds will make more than your rental income plus the likely ~£20k you'll "lose" by selling now rather than waiting for the market to recover. As I said, if you're in no hurry to sell (as you stated), you're not paying a mortgage (as you stated) and recieving an income (as you stated) then you'd be better off waiting. Of course, if what you want to spend the proceeds on is a time limited opportunity, then that negates the "in no hurry to sell" part.

dunx

iTrader: (3)

Since early this year twenty new build three storey dwellings on this site have had zero interest from buyers, don't even see people viewing these days, about a dozen houses are back up for sale, and they can't get any viewings either.

Flats are selling like hot cakes here though, Leeds is doing well at the moment (?)

DunxC

SunnySideUp

I thought Flats/Apartments were the units suffering worst?

Certainly on the South Coast, Apartments are not selling.

j4ckos mate

jesus where do you live?
get a pic up of one for sale

scoobynutta555

More interesting points from someone still in the dark. Shall I switch a light on before you fall down the stairs?

The sale of the house is to fund a renovation project on a cottage on C.17 acres on land in Ireland (family owned outright). I have to balance up many factors, of which current house prices are just one item. I have the exchange rate to consider (currently well down), my situation at work where voluntary redundancy is being offered on very generous terms, there are other factors too.

If I go in one direction I miss out on another. I should have gone for it a year ago as was my original plan, but everything was a bit hectic with babies coming along etc. I'll be waiting 'til spring to see what happens I think. Some encouraging news (if fledgeling) on the housing front anyway.

NotoriousREV

As I said, timing is a factor. The conditions you're talking about are only going to be around for a relatively short time. Realistically we're only 3 - 6 months from the bottom of the housing market. The recovery looks set to start in Q4 next year. Unless the financial markets uncover further horrors, then the exchange rate will recover pretty quickly IMHO so to make the very best of this opportunity, you've probably already missed the boat.

Given the low interest rates right now, it may be worth investigating other financing options. Only you know the numbers and whether that would add up. You could probably finance 75% of the value of the property, use the rent to cover the interest payments, in the meantime your asset will hopefully start to rise in value again while you renovate the Irish property.

Steve vRS

We fancy trying to move up the ladder. Our house is too small for a growing family and the lack of usable garage really p!sses me off. If all prices are hit by say 25%, it's a good time to move up as long as we can sell ours!

Steve

nixxon

It looks like the first one has been withdrawn from sale, but this is it, Cutt Mill House wedding venue
The prettiest house in Surrey, and the ugliest...
Savills Property Search
Also removed from sale, but now to rent.
My own... was once the cowman's cottage!

Jamescsti

Apparantly so, I live in Leeds, can't comment personally as no one has a house for sale in my area at all, 9 months ago there were a few but they have all been snapped up. Did hear on the local radio one firm is opening more branches, in particular to sell city centre appartments!! suprised me anyway

scoobynutta555

I reckon spring next year will be the focal point for things to happen. Traditionally the busiest time of the year for house moves, with the stamp duty holiday, very very low interest rates, pledges of increased mortgage loaning by banks, banks supposedly giving 6 months before starting repossession proceedings things will be that more attractive to people waiting to buy. If things don't happen by spring/summer then it'll be a good while after.

Of course you'll have to be still in a job to get a mortgage though!

dunx

iTrader: (3)

Yup I'm Wakefield side of the M62 deep in the "Rhubarb Triangle" and all the flats on here sold a.s.a.p., but detached and terrace four beds, you can't sell for love nor money !

DunxC