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Original poster

Valuations!

14 replies

Activemum81 · 16/08/2018 12:17

Hi all,
So my house has been finally valued. I listed to the wise advise you all gave and had my house painted. What a massive difference !

I've been struggling to understand valuations. I never sold before so pls bear with me.

EA1 (Local): £675k (should sell for £650k)
EA2 (Local): £600k (can go for slightly more because of the spec)

EA3: (New local business) : Can sell for £600k
EA4: Online agent (Sent a local guy): will sell for £630-650k

Zoopla : £647k

What do we make out of all this? Confused !

OP posts:

Mildura · 16/08/2018 12:30

That's a fairly reasonable spread, in my experience.

Hopefully they were all able to give you details of similar properties they had recently sold to substantiate their valuation estimates?

How quickly do you need/want to sell?

MovingThisYearHopefully · 16/08/2018 13:19

How much did recent comparables in the street/area sell for?

BeauticianNotMagician81 · 16/08/2018 13:33

It's difficult and like Moving said depends on your area and what similar properties are selling for. Our area is doing quite well at the moment but a lot of prices are being cut not long after going on.

Original poster

Activemum81 · 16/08/2018 13:43

Similar properties are on for £675k. One was reduced to £650k yesterday.

A newly refurbished property, similar size but not high spec sold for £660k in December. Another property that requires some updating but with a little bit more space on the side has sold for £640k in April.

There are 2 properties for sale on my road at the moment. Both are need full refurbishment. Once on at £565 and another at £575. Another property down the road (its a long road) is of a similar spec to mine. Its slightly smaller. That's on for £675k.

We are not desperate to move, but sooner the better. Will be moving into rental to get a feel of the new area before we buy.

OP posts:

MovingThisYearHopefully · 16/08/2018 14:43

Sounds like something like OIRO 625k could be a good starting point based on what you've said. Go with which agent you prefer, not based on their pricing. Which agent is the one who can show you recent sales they have completed in your area? Which one has the best website & online details? I'd avoid online agents like the plague at the moment tbh, regardless of how convincing they seem.

LaGattaNera · 16/08/2018 14:53

Depending on area, (I'm home counties) some properties now are going for less than in December 2017. Also as regards comparables, this can be helpful but from observation in my area, if quite a few similar properties are on the market at the same time, it tends to keep prices down as there is more competition for the same buyers and even some nice ones don't sell for loads more than those in need of refurbishment. I do the viewings for a local EA (not EA myself) and this is my experience and also think prices are falling. The 2 bed flats and houses do seem to be shifting as well as the cheaper 3 beds but the 4 beds and upwards are taking ages with some hanging around for months and months.

Alexalee · 16/08/2018 15:08

Maybe start at 650k and see what response you get. You will know within a couple of weeks if it's too high

tentative3 · 16/08/2018 15:13

What's your gut? Ours was valued at 610, 575 and 550 and we put it on at 550. It's what we felt it was worth.

Original poster

Activemum81 · 16/08/2018 15:16

My gut feel is 625

OP posts:

parklives · 16/08/2018 15:27

If you want 625 for it, I would think you have to put it on for about 650 as buyer always want to knock off a bit and that gives you some wriggle room

MovingThisYearHopefully · 16/08/2018 15:36

I think 625k & the wriggle room would probably take it down to around 600k in this shit market tbh.

BeauticianNotMagician81 · 16/08/2018 15:44

We are putting ours on at offers over £265,000. Valued between £255,000 and £280,000. Most houses in the next very expensive commuter town are going for about £30,000-£40,000 under asking price at the minute.

tentative3 · 16/08/2018 15:46

Hmm. Tricky, there's no hard or fast rule I suppose. What's the market like generally?

LIVIA999 · 16/08/2018 16:12

We were valued at 500-525 and ended up selling at 430....
I wish they'd just put it on at a sensible price to start with. Where I live is massively overpriced and a three bed semi in our area generally goes for 425 we had done ours to a really high spec as we didn't intend to move but then circumstances meant we needed to. It took us over a year to sell too.
If I wanted to sell fast I'd put it on for only slightly over the lowest I would take. If I wasn't fussed I guess I would put it on higher and be prepared that I might have to drop.

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