MOAN ZONE anyone else trying madly to sell a house in this stupid media-ruined mortgage drought?

[ThePudding]

GAH!
we've been on the market since last Feb.

Nearly a year! and about 8 viewings.

Really losing my marbles trying to stay positive but also to stay excited to move....

EEEEK!

What's been the feedback? How much have you dropped the price by? I'd hate to be selling now because, I think, everyone woudl automatically offer 20-30% below asking price regardless of whether it's pitched to take that into account or not.

we'v dropped 25k off its original valuation

everyone loves it but its

1. too far from the tram station
2. a bit overlooked at the back

nb. that was from a recent viewing, and it is winter, all the numerous trees in out garden have no leaves!

the whole kaboodle is decorated neutrally,,, double garage, conservatory...

You'll probably just have to drop the price if you really want to sell.

We've been trying to sell since last February too. We've dropped 50k and still no luck

Good luck

Hang on in there for the "stamp duty holiday" which GB will announce soon if he has any sense (oh well, don't hold your breath then!).

why are so many people viewing who havent even got their own house on market yet?

do you agree that people shouldnt view unless they could theoretically BUY the property?
It is exhhausting preparing for a viewing with a 2yrold and a 6mthold just to hear they arent in any kind of position to buy!!

Are you using multiple agencies. The agencies usually pull their fingers out and try a lot harder to sell if they know it's not a done deal that they're gonna get the sale.

Have to say it's not all media induced either - I cannot get a mortgage anywhere and would love to buy the house I am renting - landlord would love to sell too.

Erm, why is a mortgage drought the fault of the media?

Unless your house was originally on the market at £100k and you have dropped to £75k, you will have to cut the price a lot moreor stay put.

dont you think the media exacerbated the credit crunch? Robert Peston has been blamed by some for bringing down an Icelandic bank that had been doing ok...
their dramatised depressing discussions of housing over the past couple of months >
but I suppose GB and his eejits more to blame, esp. Alistair D announcing they might drop stamp duty etc etc

just feel like the media didnt really help matters is all, everytime there was a slow news day they beefed it all up again.

JollyPirate arent the government backing mortgages now?
the deals should start filtering down through the banks soon - - unless they continue to lend all their money to dicey russians...

'dont you think the media exacerbated the credit crunch? '

No. They reported on it. It's a recession that will not go away anytime soon.

Houses are not selling because they are still overpriced, in the sense that buyers cannot get together the mortgage and the deposit needed to pay the prices that the sellers want.

Sounds like if you want to move you'll need to drop more - 8 viewings in a year means you're not even getting people in the door. We have just sold for £45k less than our ORIGINAL asking price (also nearly a year ago). Although the deal was set in motion in Sept we only exchanged a week ago and there was A LOT of price haggling after the original offers. Depends how desperate you are to move.

It's unlikely that £25k drop from this time last year is enough. And the fact people aren't coming through the door is testimony to that. Also don't forget dropping your price is not a bad thing - the houses you're looking at should also be dropping by a similar proportion and therefore in real terms (assuming you're buying up) this makes the overall price better for you.

I've seen quite a few houses go under offer here in the last few days, more than I expected. Most of those have reduced their prices a fair bit though, the biggest drop I saw was 700k to 500k, much lower drops lower down the market but still fairly substantial.

My brother has decided that he is finally going to buy as he wants to get a house sorted before he gets on with his business plans. He has got a mortgage sorted with one bank but is hoping to get a cheaper deal, I think I have found him one 2% lower for him than his current mortgage offer, fingers crossed for him he gets it. He will only buy though when something comes along at what he considers to be a realistic price, ie. has factored in a percentage of this year's predicted drops. Have to say, 25k off would definitely would not do it for him.

If you need to sell and you bought more than 4 years ago then if you get your money back you are doing well IMO.
Don't be a greedy media ruined seller just get rid and get on with your life.
The next house you buy will drop by the same % if you're going up the ladder do the maths, this is a good thing for you.

yep you speak the truth.

just very hard to be in the middle of it, dying to go and start a new life, but not daring to think about it too much.

......should theoretically be ok unless we get caught by a fast price upswing.
ie we sell low then prices rise overnight

it is such a huge gamble, buying or selling at any time no matter what your situation

thePud, hopefully interest will look up as spring arrives

You don't let that happen hun, make sure you get a deal done on the house you want before yours completes.
If I was you I'd reduce it to the absolute minimum you can afford to take and see what happens, if you knock another £50k off and it still doesn't sell then the markets worse than any of us could imagine.

My friends had a hous ent he market for 450k 18 months ago. Took it off market and put back on again March last year for 395k. Got offer of 375k which they declined. Put back on market in August for £350. Not a bite so moved into new house in December and still have old house to sell.

Other friend been on market for 20 months.

We are in Dorset.