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Why Hasnt My House Sold


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It just the way i think, i dont beileve the market is that weak that everything will fall, this was predicted a few years ago but it never happened, i cant believe people say renting is not dead money either - i have always been brought up to understand you get what you pay for and i firmly believe if you pay out every month for something that isnt yours and you can never own it whats the point, yes i can see it makes sense if you believe there will be a crash but only for short term. My friend was paying the same as me in rent as i was in mortgage at one time, she learned her lesson and they brought a house. Far better to own and build on it tahn spend all your money on something that is never yours.

Welcome to the board !! Just a quick question - house price wise, you're moving up £100,000 - that's quite a jump in that area. How much of a mortgage are you taking on to achieve that ? How does that compare to your combined salaries (just give a multiplier if you don't want to give specifics). And are you getting a repayment or interest only mortgage ?

BTW - I agree with a lot of the other posters. If you want to sell and you can't, then you're asking too much for the property. It's that simple !!

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Welcome to the board !! Just a quick question - house price wise, you're moving up £100,000 - that's quite a jump in that area. How much of a mortgage are you taking on to achieve that ? How does that compare to your combined salaries (just give a multiplier if you don't want to give specifics). And are you getting a repayment or interest only mortgage ?

BTW - I agree with a lot of the other posters. If you want to sell and you can't, then you're asking too much for the property. It's that simple !!

I am actually moving out of the area of tipton, to wombourne - we can comfortably afford it- i am not going into figures as is no one but our own business but put it this way - we are young 24 me and husband 26 - he is an electrician own business and i am a microbiologist. We both have well paid jobs and recently got married so i am taking moving serouisly as want kids in the next couple of years.

We are considering dropping the price but still have i alittle bit of interest at the moment so leaving it at the moment.

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Guest Skint Academic
It just the way i think, i dont beileve the market is that weak that everything will fall, this was predicted a few years ago but it never happened, i cant believe people say renting is not dead money either - i have always been brought up to understand you get what you pay for and i firmly believe if you pay out every month for something that isnt yours and you can never own it whats the point, yes i can see it makes sense if you believe there will be a crash but only for short term. My friend was paying the same as me in rent as i was in mortgage at one time, she learned her lesson and they brought a house. Far better to own and build on it tahn spend all your money on something that is never yours.

Thank you. Very informative. I presume your parents feel the same way that you do? I know my parents always taught me this.

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Wombourne is beautiful – I live just down the road – it's not crime free but it's about as good as you will get.

Where is crime free nowadays - i love the area and the schools not that i need to worry about that yet. where do you live roughly - the house i want is not far from the Vine pub.

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Where is crime free nowadays - i love the area and the schools not that i need to worry about that yet. where do you live roughly - the house i want is not far from the Vine pub.

I live on the border with Wolverhampton, about three miles from Wombourne – I run there twice a week along the old railway line. The schools are very good – Ounsdale is suprisingly good for a large secondary but as you said there's a few years before you have to think about schools.

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Thank you. Very informative. I presume your parents feel the same way that you do? I know my parents always taught me this.

My dad passed away two years ago but my mom has always taught me to be careful with money - also being a student for many years taught me to only live to your means. Both my parents owned the house from a young age when prices were well not even half they are now but getting on the property ladder is something they always wanted us to do and hate the idea of me renting.

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I live on the border with Wolverhampton, about three miles from Wombourne – I run there twice a week along the old railway line. The schools are very good – Ounsdale is suprisingly good for a large secondary but as you said there's a few years before you have to think about schools.

Oh my god, you dont work for an estate agent do you.

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My dad passed away two years ago but my mom has always taught me to be careful with money - also being a student for many years taught me to only live to your means. Both my parents owned the house from a young age when prices were well not even half they are now but getting on the property ladder is something they always wanted us to do and hate the idea of me renting.

I can understand where they are coming from but if you believed a downturn was imminent would you not consider cashing in on the other property and renting for a couple of years? During a downturn renting could be the opposite to dead money and there are some good deals at the moment.

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I'll admit to not having read the entire thread .... so leaping in here. But I am (in a completely different part of the country) looking for a house "just like yours", so I will give you my pennyworth.

My situation: Downsizing, so a cash buyer - looking for a small house to minimise bills/maintenance so I can enjoy the house and not have a big "to do" list. I want end terrace/semi. Max 2 beds (although I will only use 1 so 2nd isn't going to be used and is really too big for my needs)

So, if I were looking in your area, my brain would be saying:

1) Firstly, I think the market will drop, not sure by how much ... so I am prepared to sit on it and watch for 6 months unless "the perfect" house comes along (which it probably won't). So although a good buyer: cash, no chain, I don't NEED to buy, so probably right now too scared to commit

2) Nice - can park two cars. Looks like space for a garage - I'd like the details to have said if that were potentially possible

3) Bathroom - hmm, no shower... I'd be looking for at least a wall mounted shower + screen... then I spotted it has them in the details, but the picture doesn't seem to show this unless I am blind

4) Lounge - OK size. Laminate flooring - handy if it's been done properly, but if I spot it's been fitted poorly I'd not want the hassle of replacing that.

5) Kitchen - can't really see from the picture, looks dark on my monitor. Looks passable though. Bog standard modern kitchen (bit dark for my personal tastes, but when you're buying second hand you can't choose details) - oh and there's a 2nd lighter kitchen picture. OK, so you didn't have the best photographer in the world on the job.

6) Door straight into living room - but that's OK as it has a porch.

7) Parking not showing well on picture - it's cut off and looks shabby. Also no garden pic.

Now, what's your competition as I see it....

1) http://www.rightmove.co.uk/viewdetails-756...=2&tr_t=buy - nah - not as much space/garden/parking - all looks a bit odd

2) http://www.rightmove.co.uk/viewdetails-154...=4&tr_t=buy - oh this is better for me. 2 beds, which doesn't bother me, but look at that living room (bigger) and garden pic. Nice.

So I'd dismiss yours at that point and go look at the bigger/2 bed one. I'd be thinking that I'd offer under anyway. So worth looking at his.

Yours looks a bit shabby now by comparison. Might be sh1t photography though.

So, that's inside my own mind. How one random person would look through rightmove and decide what to phone up about.

Update: Just expanded search by 1 mile and found this http://www.rightmove.co.uk/viewdetails-146...=3&tr_t=buy - so I'd go to see this too, pushing yours to 3rd place.

Only "advantage" yours has in my mind over these two is they have allocated parking (which I hate with a passion) and yours has 2x real spots

Edited by ScaredEitherWay
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I'll admit to not having read the entire thread .... so leaping in here. But I am (in a completely different part of the country) looking for a house "just like yours", so I will give you my pennyworth.

My situation: Downsizing, so a cash buyer - looking for a small house to minimise bills/maintenance so I can enjoy the house and not have a big "to do" list. I want end terrace/semi. Max 2 beds (although I will only use 1 so 2nd isn't going to be used and is really too big for my needs)

So, if I were looking in your area, my brain would be saying:

1) Firstly, I think the market will drop, not sure by how much ... so I am prepared to sit on it and watch for 6 months unless "the perfect" house comes along (which it probably won't). So although a good buyer: cash, no chain, I don't NEED to buy, so probably right now too scared to commit

2) Nice - can park two cars. Looks like space for a garage - I'd like the details to have said if that were potentially possible

3) Bathroom - hmm, no shower... I'd be looking for at least a wall mounted shower + screen... then I spotted it has them in the details, but the picture doesn't seem to show this unless I am blind

4) Lounge - OK size. Laminate flooring - handy if it's been done properly, but if I spot it's been fitted poorly I'd not want the hassle of replacing that.

5) Kitchen - can't really see from the picture, looks dark on my monitor. Looks passable though. Bog standard modern kitchen (bit dark for my personal tastes, but when you're buying second hand you can't choose details) - oh and there's a 2nd lighter kitchen picture. OK, so you didn't have the best photographer in the world on the job.

6) Door straight into living room - but that's OK as it has a porch.

7) Parking not showing well on picture - it's cut off and looks shabby. Also no garden pic.

Now, what's your competition as I see it....

1) http://www.rightmove.co.uk/viewdetails-756...=2&tr_t=buy - nah - not as much space/garden/parking - all looks a bit odd

2) http://www.rightmove.co.uk/viewdetails-154...=4&tr_t=buy - oh this is better for me. 2 beds, which doesn't bother me, but look at that living room (bigger) and garden pic. Nice.

So I'd dismiss yours at that point and go look at the bigger/2 bed one. I'd be thinking that I'd offer under anyway. So worth looking at his.

Yours looks a bit shabby now by comparison. Might be sh1t photography though.

So, that's inside my own mind. How one random person would look through rightmove and decide what to phone up about.

OK thanks for that, it should have a garden pic look again.

The driveway is the only thing we havent really done. everything else in the house has been done professionally.

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Guest Cletus VanDamme

Kaz, all I would say is that, given you and your husband are both in well paid jobs, I would seriously consider taking the hit on the house and selling it now at a discount - even if it means you end up selling it what you paid for it.

When the crash comes I would imagine that a 1-bed house such as yours in that area would sell for around 40-50K.

If you're really keen on this house in Wembourne and don't want to lose it, and are determined to buy, then you need to cut your losses.

Otherwise, really you are trying to have the best of both worlds, which was possible in the boom, but now the market has turned.

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Guest Skint Academic
No - do you think I would have got to 500 posts on this site if I did? :lol:

You could have been the token estate agent! :)

Anyway Kaz, another question (I find questions more useful than answers).

What's the hurry to move?

Edited by Skint Academic
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OK thanks for that, it should have a garden pic look again.

Ah, yes I did... sorry - guilty of skimming... but house details/lookers are like that. You have to get their attention near the top or they wander off.

So, garden. I like the fact there's a lot of no-maintenance bits. And it looks an OK size.

So if I had time, after the other 2 competitors, I'd view yours.

But, today, what "silly offer" would I make you?

I'd probably really take the piss and go in at £68k, then up it to £74 before shuffling off.

Just because I am a bear so convinced the longer I wait the more chance I have of getting a bargain - so people viewing now will either be unaware of market changes, desperate to move or just taking the mick.

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You could have been the token estate agent! :)

Anyway Kaz, another question (I find questions more useful than answers).

What's the hurry to move?

Well no hurry really, just found a house that we love and dont want to lose it

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Stop replying then - isnt this what the boards for. I am bored of you anyway. Like i said if you dont like it go away and reply to someone else.

You joined here yesterday but already telling people to go away and calling some posters 'stupid' then complain about being abused. I suggest you calm down and show respect to others or you'll probably have a nice shiny orange suit soon.

The reason your house and thousands of others aren't selling is the fact that they are overpriced. Long gone the days of cheap credit as interest rates aren't 3.5% anymore and you'll have to adjust your expectations if you really want to sell or sit on it for months like others.

You are a very brave person to come here for an advice! if I was failing to sell my property housepricecrash.co.uk would be the last website I would visit. I wonder what sort of advice you would expect from such a website.

by the way compare the mortgage on your asking price with the cost of renting then you'll see if rent is dead money or not. You are not alone as millions of others have also been brainwashed by Phil & Kirsty.

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Food for thought:

Fortuantely for you Tipton, like Sandwell, has continued to see good HPI over the past two years as affordability has been better than areas such as Wolverhamtpon which has been static and is now showing negative monthly figures. I believe Tipton has benefited from the price ceiling that seems to have been reached in other areas of the West Midlands - as a result Tipton's prices have been taken higher than they would have due to demand. This could mean that it will drop more than other areas but if you can get your cash out of the property at the peak good for you. As for Wombourne it's a different kettle of fish as the residents (apart from the Giggety estate!) are affluent. This could hold up their prices for longer but in a downturn you will find that it will also be hit. I still think it would be a good idea to rent, even if you just do it for a short period until you are sure which way the market is going. You could even rent in Wombourne - like I say there are a lot of good rental deals at the moment. I just get the feeling that when a downturn becomes apparent Tipton could turn very quickly but Wombourne would offer more resistance. Unfortunately timing the market is an art, not a science.

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You joined here yesterday but already telling people to go away and calling some posters 'stupid' then complain about being abused. I suggest you calm down and show respect to others or you'll probably have a nice shiny orange suit soon.

The reason your house and thousands of others aren't selling is the fact that they are overpriced. Long gone the days of cheap credit as interest rates aren't 3.5% anymore and you'll have to adjust your expectations if you really want to sell or sit on it for months like others.

You are a very brave person to come here for an advice! if I was failing to sell my property housepricecrash.co.uk would be the last website I would visit. I wonder what sort of advice you would expect from such a website.

by the way compare the mortgage on your asking price with the cost of renting then you'll see if rent is dead money or not. You are not alone as millions of others have also been brainwashed by Phil & Kirsty.

Ok so i posted on the wrong site, i didnt know i was just deperate for info. Yes for us renting is dead money end of.... i have only retailated to those posters who have called me a troll, someone said that they could smell a rat from first reply - people on here are too quick to judge and as i said before ..but i will let you have your pennys worth - i am very calm, and others show show respect to me too, if they want it from me. Whats the nice shiny orange suit thing... what are you going on about. And once again, for the 50th time we will drop the price of the house.

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Guest Skint Academic
Well no hurry really, just found a house that we love and dont want to lose it

Well you have to admit if nothing else, that there is currently uncertainty in the market. You also have to admit that there are other houses out there which are just as nice as the one you are wanting. If there is no particular hurry and you aren't convinced that we are in a bubble and that you need to reduce the price, then you might as well just wait to see if you can get your asking price. If you are finding the market to be slow then the seller of the house you want to move to will be finding it slow as well.

And if everyone on here is right and the market does start to crash then you will be able to re-evaluate your options at your leisure without the added stress of a larger mortgage in an economy at risk of a recession.

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Kaz, can I ask how much you plan to drop the price by?

I ask as someone who used to own a fair few 1 beds (BTL) and sold them all last year, as they will be the first thing to get the living sh!t kicked out of them in the coming crash. And there is a crash coming; it's mainstream talk now where I work and amongst my friends ( a fair few of them still in BTL)

Get rid of it, or you WILL be held holding the baby.

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Hello Kaz,

Here is a couple of silly questions for you!! Why did you buy a one bedroom place?? Was that the best thing you could afford when u first brought?? Cause if I had been you and your husband would I have brought at least a 2 to 3 bedroom house. At least you could have stayed in it longer and ideal if you wanted any mini me's. Any how I wish you all the best in selling your property.

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