Phaedrus Report post Posted August 2, 2005 (edited) I've been looking around on Nethouseprices, and places near to me have gone for stupid amounts of money. There is a place literally round the corner for rent, same as current mortgage, but has more of what I want. Question is, have I missed the boat, has sentiment turned already, so I am unlikely to get a buyer. BTW, have overpaid on mortgage since day 1, even at a "giveaway" price (b*gger, I sound like someone off expat forum ), I'd still pocket a fair bit. Not enough to retire, but a reasonable deposit. What worries me is if all the buyers in this price range have exited. How does it work? Edit:I live in Newcastle. Edited August 2, 2005 by Phaedrus Quote Share this post Link to post Share on other sites
how much...?? you must be joking Report post Posted August 2, 2005 ..i think you'll still get a buyer but i do think you've missed the peak... ..i sold a place in newcastle last month but it sat on the market for 10 months and took a cut of 12% from starting (peak) price to shift it... (heaton)... ...my sisters next door neighbour has just dropped her asking from £360k to £320k in an attempt to generate some interest... (jesmond)... ..but an old mate of mine has just bought a place after offering full asking..!! (gosforth)... one born every minute.. so if you're lucky you might find one more.. good luck..!! Quote Share this post Link to post Share on other sites
Phaedrus Report post Posted August 2, 2005 ..i think you'll still get a buyer but i do think you've missed the peak.....i sold a place in newcastle last month but it sat on the market for 10 months and took a cut of 12% from starting (peak) price to shift it... (heaton)... ...my sisters next door neighbour has just dropped her asking from £360k to £320k in an attempt to generate some interest... (jesmond)... ..but an old mate of mine has just bought a place after offering full asking..!! (gosforth)... one born every minute.. so if you're lucky you might find one more.. good luck..!! <{POST_SNAPBACK}> I'm in Gosforth. My personal circumstances have recently changed, so I wouldn't mind taking a bit of a hit on my 'virtual' paper gain. I might arrange a viewing on the rental tomorrow. Quote Share this post Link to post Share on other sites
Jason Report post Posted August 2, 2005 (edited) Why don't you try and get an agent with a "no sale no fee" type deal, then see what happens! If you sell, great. If you don't what have you lost? Apart from some people looking round your house saying what wrong with it! Edited August 2, 2005 by Jason Quote Share this post Link to post Share on other sites
how much...?? you must be joking Report post Posted August 2, 2005 Why don't you try and get an agent with a "no sale no fee" type deal, then see what happens!If you sell, great. If you don't what have you lost? Apart from some people looking round your house saying what wrong with it! <{POST_SNAPBACK}> ..is this meant to be a joke jason mate..?? ..or do you pay estate agents even if they don't sell your house in your neck of the woods..?? Quote Share this post Link to post Share on other sites
Phaedrus Report post Posted August 2, 2005 Thinking maybe three valuations, go with the lowest, put it on 5-10K below their valuation. I dunno, is that a reasonable strategy for a quick sale. Quote Share this post Link to post Share on other sites
Red Baron Report post Posted August 2, 2005 The North traditionally lags the South in house price movements. Prices probably peaked in London Q3 2003, in the Home Counties Q2 2004, and in your area they are probably hovering at the peak. If you are determined to sell then move very quickly; price accordingly for a quick sale and at all costs avoid chasing the market down. Quote Share this post Link to post Share on other sites
how much...?? you must be joking Report post Posted August 2, 2005 Thinking maybe three valuations, go with the lowest, put it on 5-10K below their valuation. I dunno, is that a reasonable strategy for a quick sale.<{POST_SNAPBACK}> ..bear in mind you might get a low offer too... unless you can find another numpty like my mate.. ..on my sale in heaton the survey came back with a few outstanding bits of work needed (tiny)... a got a quote from a builder who said £350 to put everything right.. buyer said he'd pull out if he didn't get £400 off... ..pull out of the deal for fifty quid..?? have you ever..?? ..the penny is finally dropping up there that the buyers are in control... that said i think simply going for the lowest valuation (without further reduction) would be a good strategy as you'll probably be offered 5-10k under that... Quote Share this post Link to post Share on other sites
