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is is better to keep house on market or take it off and put back on in 2 - 3 years?

(9 Posts)
foxy1 Wed 23-Jul-08 20:46:55

We have had our house on the market for 1 year now and we are in a great location. had couple of offers a while back but they fell through. we have not had any viewings for about 1 month. we are not sure whether to take it off the market and put it back on in a couple of years but will our house be worth less then? Is it better to keep it on or take off? Any advice would be appreaciated. thank you! Foxy 1

CarGirl Wed 23-Jul-08 20:48:18

general consensus is that it's going to take at least 2-3 years before the housing market picks up so I'd take it off and just forget about moving for a while

HonoriaGlossop Wed 23-Jul-08 21:04:20

i think there are options depending on how much you want to move...in my local area there are still sold signs going up - not so many, and some houses have been up for sale for ages, but there are still those signs! I think if this was me I might consider reducing the price, as i say, depending on how much you want to move. If something is a real bargain it's much more likely to sell even in this market I think

but if you don't want to reduce, then I would take it off the market rather than just leave it on for another year or more

norkmaiden Wed 23-Jul-08 21:05:22

I'd stay put if you have no really pressing reason to move - dull but safe...

foxy1 Wed 23-Jul-08 21:25:31

our original plan was to sell our house and move into our other house which we are doing up and then sell that (to get round capital gains tax) and then buy somewhere bigger. but we are not sure whether to rent out the other one and stay where we are for another 3 years. do you think it is better to keep a second property as a long term rental?

noddyholder Wed 23-Jul-08 22:01:58

Cut the price and sell it.It will be worth less in 2-3 yrs that will probably be the bottom of the market according to most economists so better to take a biggish cut now rather than chase the market down

pgwithnumber3 Wed 23-Jul-08 22:03:17

Who knows? No-one can truly tell what the market will be like in 2/3 years time, if we did, we would be very very wealthy!

If you DESPERATELY need to sell then sell, if not, hang off and wait and see.

piximon Wed 23-Jul-08 22:24:56

I'd say leave it on, what have you got to lose?

There are buyers out there. We're looking but house we've set our sights on is over our budget and bank (it was repossessed a year ago) not willing to drop price. sad

1dilemma Thu 24-Jul-08 00:36:30

How much of a loss can you take accross both properties? (not expecting an answer obviously just a thinking point!!)
remember a falling market favours those trading up

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