Im not yet selling but we like a house which we think is over valued. Obv the est agent says it isnt but it was only bought in dec 2005 and with nothing being done to the house theyve put it on the market this year for a 60k increase.
I was trying to work out what it is worth and if the 60k increase in price was correct due to inflation.
The price only reflects what some one is prepared to pay - it is not a value set in stone. Even if nothing has been done to the house (and you can't know that), prices in that particular area may have gone up generally.
That's a year and a half mind. And if it was sold in Dec 2005 it would have been offered on in the autumn 2005, when prices were at there absolute lowest (I sold one then).
So from the lowest point of the market to the highest point 2 months ago it may be reasonable. The market has slipped a massive amount in last 8 weeks and I've just dropped my house by 25k to get it sold.
When you say they haven't done anything to the house any chance any of it could be 'hidden'?? I know when I moved in I spent 10k on replastering every room, fitting all new electrics, replacing floorboards and joists, new bathroom. Only then did I 'decorate' it.
Not necessarily mostly stuff you could 'see'.