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How much is this worth now?

24 replies

WantingToMove · 13/04/2009 20:39

Thought I'd asked this in a new thread as mentioned it in my OP but fear it may get overlooked.

A house we are interested in last sold on 6 Aug '04 for £498,000 so what would you consider it is worth now? (Was bought for the first time for £364,950 on 30/03/01 as a new build).

Thanks

OP posts:
Mooseheart · 13/04/2009 20:42

Go to Zoopla.co.uk here ... then home values.

Type in street name / postcode, then seee if it is listed. If it was sold in 2004 it should be.

Provided it hasn't had any major work done to it since it will give you the current value.

HTH.

WantingToMove · 13/04/2009 20:50

Mmmm it says £546k but I read somewhere else on here that prices are back to 2004 so shouldn't that make it more nearer £498k? I am confused!!

OP posts:
Owls · 13/04/2009 20:52

What are they asking for it now?

WantingToMove · 13/04/2009 21:03

It's on the market for £549,950.

OP posts:
Mooseheart · 13/04/2009 21:17

Yeah prices have gone back to 2004 values but not in all areas of the country - they've taken the average house price now and gone back to when the average was last at this level which was I guess in 2004.

Mooseheart · 13/04/2009 21:18

So some areas have been worse hit than others - your area may have only been hit to fall as far as 2005 levels say.

noddyholder · 13/04/2009 21:28

475-480

WantingToMove · 13/04/2009 21:33

I like your estimate noddyholder as we could probably afford £475k at a push

OP posts:
SuziSeis · 13/04/2009 21:35

dont listen to Noddy she is a doom monger

noddyholder · 13/04/2009 21:42

Well I bought in october at 2003 price so not that much of a doom monger and am in the south east

SuziSeis · 13/04/2009 22:11

tee hee!!

I bought in 2007 at 2007 prices

noddyholder · 13/04/2009 22:55

ah but if you love it suzi it doesn't matter!

WantingToMove · 13/04/2009 22:57

Thanks everyone, will wait & see if it drops in price....

OP posts:
SuziSeis · 13/04/2009 23:36

oddly zoopla has put mine up 10k this week

Sorrento · 13/04/2009 23:43

What is it worth to you ?

If your the only person interested in buying it then make an offer 25-30% off 2007

WantingToMove · 17/04/2009 21:40

The house a few doors down sold for £577,500 in July 2007. Therefore, an offer 25-30% off that would make it £433,125-£404,250.

We asked the estate agent if the vendor would look at an offer below £500k & apparently they won't. They initially had it on the market at £599,950 & have dropped it £25k twice.

OP posts:
twinsetandpearls · 17/04/2009 21:42

We bought out house in 2004 and it is on the market now for the same price and I suspect we will just the asking or just a few thousand less as there is a lot of interest.

lalalonglegs · 17/04/2009 21:51

I think the 25-30% off top of market is a good guide but not failsafe: it may have been extended or renovated (not this one, obviously, as is a new-build). It might have had a new road/station open up nearby cutting down commuting time or a local school might have become very desirable. The vendor may have over/underpaid wildly when he bought. Or the vendor could be very unrealistic and be hoping for a patsy buyer - whatever the story is, it will take a lot of research to work out what it should be worth and whether that matches what it is worth to you and what it is worth to the seller.

There is a house on a nearby road that I have my eye on (hoping owners will sell one day soon as it is an ideal renovation job); if they sell for the price one of their neighbours sold for in 2004, I can afford it; if they sell for the price another of their neighbours sold for in 2004, I can't - and it's a very small road, only about 20 houses. These things aren't an exact science.

WantingToMove · 17/04/2009 21:56

I know this area has not dropped as much as other parts of the country. Will sit tight & see if it sells or if they drop it further - we need to sell anyhow before we are in any position to make any offers on any house. Good luck with your sale twinsetandpearls, & lalalonglegs I hope the house comes on the market at a price you cann afford

OP posts:
ickletickle · 18/04/2009 08:41

they are probably looking at 499,999 to avoid stamp duty threshold.

inscotland · 18/04/2009 14:50

Zoopla IMO is pants. It's not a good estimate of property values.

wombleprincess · 19/04/2009 10:10

agree inscotland. just had ours revalued for mortgage purposes, well over the zoopla calculation, zoopla is just a very crude average.

jeanjeannie · 19/04/2009 10:51

Agree with lala - it's not an exact science and have to say Zoopla is pretty out with its estimates in my area.

Hate to say it but new builds (last 10 yrs) seem to be the ones suffering the most where we are. Mate has just picked one up for a THIRD off the asking price... Many of them were wildly over-priced in the first place. Personally I'd say they were asking too much and realistically they're looking to 499,999 to avoid SD threshold as ickle says. Good luck!

jeee · 19/04/2009 10:54

Doesn't matter what anybody says it's worth, if the owners will not go below a certain price, then that is its price. They may not sell, but ultimately it's their decision.

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