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Original poster

mad to try and sell my house now?

18 replies

becaroodolf · 02/12/2010 12:33

..in the current market I mean?

We have done a lot to it this year - new windows, new boiler, decorated etc and we still have some equity left in it BUT am I mad to
a) put it on the market at this time of year?
b) think I will get what its worth?

Want to move back to my old village where my family still are and where my ds1 has just started at the school.

WDYT?

OP posts:
MyCatJeremy · 02/12/2010 14:17

a)I don't think it is mad, potential buyers (like myself) will still look for a house during winter.

b)It is only ever worth what someone will pay for it.

Fiddledee · 02/12/2010 14:35

You rarely get anything back on windows or boiler as they are expected in a house! I would wait until the spring to see if the market picks up unless you really want to sell now. The other issue is that you may not find anywhere to buy unless you can move in with family.

twosoups · 02/12/2010 20:19

I sold mine at the end of November. It does happen.

The world and his wife goes up for sale in January. I'd follow suit.

Original poster
becaroodolf · 02/12/2010 21:08

thanks!

OP posts:
beautyspot · 03/12/2010 00:42

As houses are falling in "value" by thousands every month you should probably put it on the market sooner than later.

AlpinePony · 03/12/2010 08:09

I'm currently househunting, but believe you me - I will not be paying what the owners "would like in an fantasy ideal world"! Wink

Original poster
becaroodolf · 03/12/2010 09:24

thats my worry alpine I am not willing to give the bloody thing away! Grin

OP posts:
SpringHeeledJack · 03/12/2010 09:29

We've painted the whole place fucking magnolia in stylish neutrals and as soon as 2nd January rolls around, I'm putting in the call to Kinleigh and getting my board up

Original poster
becaroodolf · 03/12/2010 09:36

Good luck SHJ

This house is nice - we have done a lot to it, its just not in the right place!

OP posts:
AlpinePony · 03/12/2010 10:13

becaroodolf - there's a difference between "giving it away", having a pie in the sky idea of what it's "worth" (i.e., what the banks were willing to lend in 2007) - and what current market conditions are.

You'll need to be realistic.

Put it this way, the stuff I'm looking at has fallen at least 20-25% in the last two years and one guy's had it on the market at the same price for over 3.5 years... not sure he'll ever achieve his asking price. Either you want to sell or you don't. So I'm not going to pay his inflated idea of "worth".

Fiddledee · 03/12/2010 10:59

IMO you would be mad to put it on the market now and not wait until spring unless you have to. Prices do tend to be higher in the spring and there tends to be more people looking.

I have just sold my house for only 2% off asking price but prices have not dropped round here as a shortgage of large family homes. but I only sold as I have found somewhere and that very tough with limited supply.

If you want to sell a flat or a two bed terrace you can't unless you probably go into serious negative equity.

mollymole · 03/12/2010 12:34

it should not really matter as the price you sell at should be reflected in the price you buy at - is is the difference to change that you should be looking at - if prices are low for selling the reverse is that buying prices are also lower

Fiddledee · 03/12/2010 12:46

that mollymole is only if you are buying and selling similar properties in similar areas. Not everywhere has prices dropped.

twosoups · 03/12/2010 18:49

We've also sold for about 2% off asking price. Does happen!

2babyblues · 03/12/2010 19:14

I don't think it matters too much as you are moving somewhere else so if you get a low offer for yours you can get a low price for somewhere else too.

We put our house on at Easter, only got an offer in October for 32K less than we intially put it on for. We accepted offer anyway and got next house for a reduction of 36K on the original price they had it on for. Therefore, kind of feel that even though we actually sold ours at less than we bought it for it doesn't matter as got good deal where we are moving to.

We are nearly at exchange so fingers crossed it goes through before xmas.

lovechoc · 03/12/2010 21:04

Doing up your house actually doesn't increase the value of your property believe it or not. it just looks pretty.

If it makes you feel any better, we've had to pull out of a (near) purchase and are still looking for property even in this rubbish weather!!

You don't have much to lose.

LeonardNimoy · 03/12/2010 22:14

Have a look at this If Iwere you I wouldn't bank on it being any easier in the spring. More people may want to buy then, but it doesn't mean they are going to be able to get a mortgage. Iy you really want to move and are likely to be the ongterm you may have to take the short term hit. You will definintely get what it's worth - but be prepared to accept that that may not be the figre you think it is!

Original poster
becaroodolf · 04/12/2010 08:50

Apparently there are people waiting for 3 bed semis in area....ours is extended and has a loft room too. Its a good family home. The estate agent we hope to go with has sold quite a few near my house lately so who knows??

My feeling is that the prices will be even lower in the spring...I could be wrong. I know I wont get what I think my house is worth but I hope the EA doesnt give me an awful valuation Hmm

Need £145k or we cant afford to move. We arent trading up - we are looking for something comparable but just in a different location.

Thanks for your replies. Good to know I am not the only one planning on moving at this time of year!

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