Anyone had their home valued recently?

[inscotland]

Do you mind me asking how much the value has dropped by either since you bought it or had it last valued?

We had ours valued yesterday to be told that is is now worth £65,000 less than what it was 8 months ago when we re-mortgaged. I have asked for a written explanation of why the girl came up with this valuation and we have further estate agents coming this week but I'd be interested to hear others views/experiences.

I am just outside Perth in Scotland.

If you bought last year or remortgaged the valuation was probably ott at the time.25% drop is quite average atm.I bought a house last september for over 30% off the price of the one a few doors up sold for in January

i am in an overpriced northern town

i bought in July 2007 yes i know - ( sale agreed 1st quarter 2007 which is slightly better)

my property has dropped by 100k according to zoopla

i have spent 100k on it but does not appear to have altered online value!

inscotland rbs told me that Inverkeething was the only place in the UK to show price increases

The value is only what someone is prepared to pay for it.

Could it be that she has given you a price and is expecting offers over that price?

Atm home improvements will hasten a sale but will not hugely increase the value in comparison to a slightly less attractive house

We are in rural east mids. Large 4/5 bed det with pool was on the market for £300k 18 months ago.

Owners reduced price 3 times to £240k, still no takers. Not even viewings. Since Jan it's been up for rent and is still empty.

Lots up for rent locally, others have taken homes off the market. Village estate agent has shut up shop as well.

i live in south east london and a family have been trying to sell there nice extended fanily home as they have their visa's ready to go to auatralia but can not sell there property has dropped from 450,000 to 370,000 and they still can sell it.

i think house prices everywhere are dropping still especially if you want to sell it and emigrate.

Well the first guy has been and was better. He says our house is too unique to put a price on it there and then and needs to go away and speak to a surveyor which he needs to do re the home owners report and come back to me.

After he went through all his stuff I told him about the other agent and he just laughed and said there is no way in this area any property as dropped by that much but we will see what his research brings this afternoon.

We have another agent coming at 3 pm.

kentmumtj - maybe a coincidence but I think I viewed that house! ... are the initials of the area PW, on the west side?

Good luck, inscotland

Hiya - my DP comes from Kinross!

Anyway:

Large beautiful 2 bed flat in Morningside, Edinburgh.

Bought 6.5 years ago: 138k
Neighbours sold two years ago: 250k
Valued last summer: 200k
Neighbours sold last month: less than 200k (don't know sale price yet)

We think our property has dropped 60k since market peak, but we're still 50k higher than what we paid originally.

According to the Nationwide valuation calculator ours has dropped almost 6% since we bought it four years ago. That being said, we've improved it quite a lot so not true valuation iyswim.

I think valuing houses at the moment is really difficult. The obvious differences in the prices of practically identical properties is really striking if you look carefully.

Yes it's all a bit of a worry- esp when you see the price of houses in Oz! We sold ours there in Jan, really worried there'd be a house price crash there as well but prices seem to have held well, esp in 'desirable areas' (Sunshine Coast in our case). And I have some friends who sent me the link to the house they built on the Gold Coast which they've just put on the market (emigrating back to the UK as after 4 years, it hasn't 'worked out' for them) and we're quite amazed how expensive it is! DH spent 3 weeks in Oz in Jan/Feb with his family and really noted how day to day living expenses have sky rocketed so I can see why you'd want to get the best possible price for your place here.

Good luck anyway.