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geeza

House Sales In Orangefield/ballyhackamore

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Hello guys, new to this.

Have had my three bed semi on the market now since july, and so far had one viewer, I understand that the property market is gloomy but there has been a few sales in the same area over the past few months, and was just wondering if any of you guys wondered why im not even getting any viewings let alone offers?

many thanks

Geeza.

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Thanks for the reply guys.

the house is currently at 174,950, which i dont think is over priced, other homes in the area range from 169,000 to 190,000, My home was recently refurbed, walls re-platered, brand new kitchen with ALL intergrated appliances including Dishwasher and tumble dryer, solid oak flooring in lounge/dining room Also new Bathroom. ??????

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AS avery rough guide check your rateable value here

http://lpsni.gov.uk/vListDCV/search.asp?submit=form

At present houses are selling at this level. If you are well above this then that is the problem.

Also other houses on market are they selling ? If not then they are all too high

Its showing as 120,000, no way am i putting it down to that price, considering mid terraces in the area are selling for that price. There was a home up the road from myself was on the market since august and was on for 170,000 and recently sold for 165000. I would be willing to accept an offer like that.

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Well at least you know now - if houses are selling at 165K then put your house on at that and see if you get any interest.

Are you from Northern Ireland?

I think i may reduce it to 169,950 hoping to get offers in the region of 165,000

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Its showing as 120,000, no way am i putting it down to that price, considering mid terraces in the area are selling for that price. There was a home up the road from myself was on the market since august and was on for 170,000 and recently sold for 165000. I would be willing to accept an offer like that.

Maybe that was the last mug ;)

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Yes I'm from Northern Ireland and I spend a couple of hours a day studying the housing market in Northern Ireland and moderating this board.

I hope you didnt think I was being rude asking that, just wanted to know if you understand the NI market atm.

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do you think its anything to do with the EA?

I check Propertypal daily and pay for my house to be on the 'featured' list for east belfast, orangefield, ballyhackamore and bt5. it has had about 500 views.

Edited by geeza

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Right so you are getting views but they are not translating into viewers so there is something wrong. Try lowering your price.

would you possibly look at my home on Propertypal and give your opinion on it and the price?

if you type in orangefield, its one of the first ones there with the price 174950, thanks

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would you possibly look at my home on Propertypal and give your opinion on it and the price?

if you type in orangefield, its one of the first ones there with the price 174950, thanks

Why bother with an asking price, advertise as open to offers. If the highest offer doesn't suit you don't move house simples ;)

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It seems to be slightly higher than average asking price in that area. You've only been featured for a couple of days - try dropping 5k and see if there is any interest. The house is very well presented and tidy you just need to get people through the door.

Exactly. I'd drop it by more if you can, you have to be extremely competitive in todays market as there are fewer buyers out there at the moment.

To share experiences, I sold my house last summer. I had it on at 135k, priced identically to similar to other properties that were for sale in the area. After a month with no viewers, I dropped it by 10k meaning that I was a good bit below everyone else. It wasn't an easy thing to do, but I had to acknowledge that my house just wasn't worth what I thought it was. My neighbours who were also selling thought I was crazy. In a nut shell, the properties that I was competing with are still for sale and their asking prices are continuing to slide well below 115k. I am now sitting with a decent deposit, happily renting waiting for the bottom.

If you can afford to do it and really want out of the area, go for it!

If not just sit tight for the next 20+ years...

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It seems to be slightly higher than average asking price in that area. You've only been featured for a couple of days - try dropping 5k and see if there is any interest. The house is very well presented and tidy you just need to get people through the door.

It was feautured before christmas but i stopped it over that period, and now put it back on, i understand wat you are saying about lowering the price but surely if someone likes it, surely they would put a lower offer in, as i said i would be willing to accept about 165k.

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Try discussing new strategies with your EA - He's been in the market for a long time. Tell him you know the market is dropping and you want to get a sale and see what he says.

A buyer may like your house very much but if a valuer puts a lower figure on it then they will not easily get a mortgage.

luckily, the EA has informed that any person buying the house wouldnt be first time buyers, most likely moving up from a terrace.

Also does the fact the house has been completly refurbed not get taken into consideration?

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Assuming I'm looking at the correct property, your rateable value is 140k.

I think you have your house priced too high. There is another 3-bedroom semi in Orangefield for 135k and yours is priced at 174,950.

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It was feautured before christmas but i stopped it over that period, and now put it back on, i understand wat you are saying about lowering the price but surely if someone likes it, surely they would put a lower offer in, as i said i would be willing to accept about 165k.

You could ask your EA to put it on as 'offers over' 165k. That way you are signalling the lowest you'll take for it. It will also put you below the 169k figure you gave for the bottom end of the house price range in your area. If you're house is in better condition, better plot etc. it theoretically being cheapest should look the most attractive to potential buyers.

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Assuming I'm looking at the correct property, your rateable value is 140k.

I think you have your house priced too high. There is another 3-bedroom semi in Orangefield for 135k and yours is priced at 174,950.

When i put my house on market, the estate agent informed me that my house isnt classed orangefield but ballyhackamore which adds a bit more on, but that you speak of is quite dated, does my home which has been recently refurbed not make a difference?

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Assuming I'm looking at the correct property, your rateable value is 140k.

I think you have your house priced too high. There is another 3-bedroom semi in Orangefield for 135k and yours is priced at 174,950.

^Completely right. You are actually way over priced, here is a detached house in your area for £155k:

http://www.propertypal.com/10-sandhill-drive-orangefield-belfast/134172

You need to come down quite considerably. Sorry :(

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Unfortunately it could go against you. I don't want a refurb house. I would rather have my own choice of kitchen shower etc so a dated house would do me fine. Refurb does not add the value that sellers think - especially in a falling market. That's why many of the houses on Sarah Beeny House show didn't make any profit because you tend to apply your own taste when you refurb and it might not be the buyers.

d

Edited by geeza

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Geeza, you've come to the wrong place if you're looking for a pat on the back and a nod that your house is good value!

The refurb thing isn't going to add much value. Looking at your house you have put in a reasonable kitchen and the decor is nice. However you haven't done anything to add value that I can see - i.e. you haven't extended it. No-one is going to pay an extra 20k because you have wooden floors in (and if they tried, the bank's surveyor would soon kick them into touch).

I don't know how values in East Belfast are holding up as I don't pay much attention to that market. However, I know that your house in South Belfast, which is more expensive, would be worth about 160k (outside of BT9).

You have a decent house in a decent, pretty unscary part of East Belfast. You will sell your house but you need to let go of the idea of getting a premium for your house and drop your price to reflect the current market.

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but the point im trying to make is that one or two houses in that area have sold and have been refurbished.

http://www.propertynews.com/brochure.php?r=1&c=1&s=119577665&i=0&p=ECHECH22756

3 bedroom semi in Ballyhackamore with garage for 125k. Although the listing states some minor updating is needed, it's likely buyers would make offers on a 125k property than a 175k property in the same area.

Edited by crashbandicot

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Its showing as 120,000, no way am i putting it down to that price, considering mid terraces in the area are selling for that price. There was a home up the road from myself was on the market since august and was on for 170,000 and recently sold for 165000. I would be willing to accept an offer like that.

Just to give you some perspective, we have a thread on this forum where we track houses that are selling below rateable value http://www.housepricecrash.co.uk/forum/index.php?showtopic=74998

I do not live in Belfast and don't know the market, but in my area of the Craigavon Borough, most house sales today are taking place at around those kind of prices.

With regards to your statement that a house across the road from you sold for £165,000 last August, I would go as far as saying that the market has probably went down again since then. This isn't just idle opinion. The Nationwide have compiled a report which states that Northern Ireland house prices fell by 8.9% last year and that prices fell by 3.4% alone in Q4 of 2010. I suggest you read it - http://www.nationwide.co.uk/hpi/historical/Q4_2010.pdf

Can we ask what your intention is towards the housing market assuming you sell? If you're trading up, you do realise that a falling market is actually a good thing for you? Let's say that instead of selling your house at £175k, you get 10% less, in other words, you sell for £157.5k. If you're looking at trading up, then the house you're going to buy will have fallen by 10% as well. That means instead of paying £250k for the higher-end house, you'll be paying more like £225k. In other words, your paper loss of £7.5k from the sale of the first house will be offset by the £25k saving you'll have made on the second house. What gets interesting is that if you sold at a 10% loss to your value, you rented a house for a year, and in the meantime prices came down 20%, that means you'll get the £250k house for £200k instead.

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I have just done a history search of 3 bedroom semi's for sale in your area. In nearly all cases, the asking price has been reduced in the last year. I have not seen one price increase.

www.propertynews.com/45dws

£160k to £117.5k - sale agreed

www.propertynews.com/47cbj

£150k to £135k

www.propertynews.com/42g6v

£150k to £140k

www.propertynews.com/45qdz

£160k to £150k

www.propertynews.com/zjcj

£185k to £150k

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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