Dropped The Price
 

Hi All,

I know there is alot of us in the same boat regarding selling our houses and don't mean to whinge on about it but today we dropped our house price. Been on the market now for 7 weeks, no viewings and little interest :curse:

At what point do I have to think 'You Know What, We May Sell and Have NOTHING' !!

After 4 years of hard graft, £20k and alot of tears, there is NO WAY I will give this place up for nothing, we have done too much :cry_smile:

Come on buyers, you know you need somewhere to live with your loved ones !!!!

Donna.
x

Re: Dropped The Price
 

Wishing you lots of luck...all this media scaremongering aint helping:mad:

Re: Dropped The Price
 

Tell me about it !!!!

Have you sold, waiting etc ?

Donna.

Re: Dropped The Price
 

We're in same boat, fly out on Saturday, having to leave house here on the market, great fun trying to find money to run two houses! What can you do? Will leave it on the market till late summer and if no joy will have to pull it off and put some tenants in as it's gonna cost more in rental out there than what I can get for my stunning house here in the lake district - no justice!

Re: Dropped The Price
 

Where are you in Cheshire?

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From Middlewich but currently living in Crewe.

What about you ?

Donna.

Re: Dropped The Price
 

Hi Donna
As you said, there are loads on us in this boat, (I am sure it is going to sink soon if they add any more lol).
It is so frustrating, we have been on the market for about 15 months now :ohmy: We have had two sales fall through and have just recently changed agents. We have also reduced our asking price, twice :curse: and after all our efforts over the last four or five years, (tears, tantrums, mess, dust arghhhh) I feel the same as you.
What I do know is that nothing will stop us from living our dream so we will just have to ride out the waves on the boat for now.
Stay positive hun, I am a great believer in that saying, Good things come to those who wait. Unfortunately, we might just have to wait that little bit longer.
Good luck. :thumbsup:

Re: Dropped The Price
 

Two sales !! Do you know why they fell through or just time wasters ?

I hope you get a buyer soon or as you say, we may sink :rofl: !!!

Trying our hardest to stay positive, hope we get all the answers we want soon !!

Good luck hun :wub:

Donna

Re: Dropped The Price
 

One buyer pulled out when they found out someone else was interested and the other wanted to rent with a view to buy. Sent you some house selling karma!

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Thanks Hun :wub:

You Too.

Donna.x

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Hi Donna

We are not selling at the moment...we had a disaster..well disasters ..fell through twice:curse: sold all our things as we were nearly certain of nothing going wrong:ohmy:

WE were wrong...one day before signing the final documents:curse: it all fell through.Won't bore you with all the rest...lets just say people are amazed we still want to go!!!


All for a reason......apparently!!!

Good Luck to you .......Its a stressful business isn't it :blink:

Zoe x

Re: Dropped The Price
 

Cheers Zoe,

Good luck to you too, hope things work out.

Good luck with baby number 5 !!!! I think this one will be a girl :wub: !!

Donna
x

Re: Dropped The Price
 

You are right!!!!It is going to be a little girl:eek:

What a surprise!!!

Zoe xx

Re: Dropped The Price
 

I'm feeling your pain Donna. We dropped our price a couple of times which was a bit gutting after all the work we put into the house.
Having said that - we have now accepted an offer and I feel very relieved (or at least I will do when we've signed on the dotted line :D)

Good luck :)

Re: Dropped The Price
 

Dont give up. 7 weeks isnt that long really and now that spring/summer is on its way hopefully it will pick up. We are putting ours up for sale next week:ohmy: I dont think the scaremongering is helping either. We have spent a lot of time and money on ours so theres no way we are giving it away. Keep your chin up. sending karma

Joex

Re: Dropped The Price
 

I don't think it helps that the media keep telling everyone that UK house prices are set to drop by 20% over next 2 years!:thumbdown:

I know a few people who are stuck in same boat as you guys as regards selling-few viewings, no offers, silly offers-like they're trying to factor in the 20% drop ahead of time, or viewers who would buy but just can't sell their own..

Re: Dropped The Price
 

Woo Hoo Fantastic :thumbsup: !!

Donna.
x

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Thank you.....:wub:

Re: Dropped The Price
 

Been on since May. Dropped from £375,000 (put it on £10k below estate agents valuation) to £340,000. 2 time waster offers of £280,000 and £290,000 long before the market crashed, one trying to play us off against another house and they brought neither in the end. One couple downsizing who loved it but can't sell their house. Market gone dead here now no houses sold for 6 months. Can't afford to go any lower so may have to validate and move in a couple of years instead:frown:

Re: Dropped The Price
 

Thanks hun and good luck to you too, hope all goes well :wub:

Donna.
x

Re: Dropped The Price
 

We're in the same boat too. House on the market 10 months. 1 sale fallen through.:curse: Reduced price 3 times. Now £95K UNDER the original valuation 10 months ago. It's now the cheapest house of it's kind in our location. Spent £50K on essential work over the last 3 years. (Heating, new water supply, dpc etc) One of only 5 houses of it's period in the county. Village location, good catchment area. Period features, quarter of an acre garden. Planning permission to extend and for triple garage. Plus development potential.

Fed up to the back teeth of being told by viewers that it is a wonderful house and they love it. Fed up with being told they will definately get back to us and put in an offer and nothing.... what is wrong with people? If they don't want it, why lie???

Sorry, rant over. This is doing my head in and very soon we will give up, take it off the market and rent it out.:(

Re: Dropped The Price
 

Good luck hun, hope everything goes ok, it is a bit gutting though isn't it, all the blood and sweat you put in.

All the best, send any more interest our way !!

Donna.
x

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I know how you feel hun, karma coming your way :wub: .

Donna
x

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The media is drowning it at the mo, I agree. Somebody give the buyers a shuv !!

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Thanks Donna, I just wonder why it isn't selling, what's wrong with it?

I'm sure you feel the same. Ks for you too.:thumbup::wub:

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From how you describe your house, there is NOTHING wrong with it, it sounds beautiful !!

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Given that the current exchange rate is in favour of Aussies, it might be a good time to invest in the UK property market. You would be able to get some real bargains as people are desperate to sell.

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Yes I've been thinking that myself but I think I will wait for sellers to become even more motivated. Nothing better than a motivated seller for a bargin.

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A guy who works for me is a very successful property investor. He has at least 10 properties in WA and Qld. he is part of an investment club that is now looking at investing in property in the US as they feel there is money to be made there. Same could happen with the UK.

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If unemployment in the UK starts to go up then I think you will see some real drops in price. I have been reading predictions of 10000 + job losses comming up in the City this year. Will be interesting to see what that does to london prices.

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I would keep my house and rent it out rather than sell it for a ridiculous price, I have put too much into it to sell it to an investor who's gonna make money off my hard work :mad:

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Hi all

Same boat as all you guys, been on the market since September, one offer but buyer cant sell. We are trying to rent now and that is proving to be just as difficult and we wont have any money to bring, so dont really know what to do. Any ideas

Mick

PS Maybe someone who knows how should set up a poll of all those waiting to sell and what they will do if they dont, could be interesting.

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It's the stress that gets you.... and all the bloody tidying up and with3 little ones that is no mean feat! The come, the view,they say it's lovely.... and then.... nothing.

We have an offer on the table from a couple that can't sell theres (ea advised us that it has always's been a 'problem' house) and we've a couple of people that are interested but don't want to take it further until they themselves have a buy....

The media hype is to blame.... we put ours on at 25k under valuation.... eveyone already thinks it's a bargain but when they are telling 1st buyer's to hold off for 12months the chains are just stood still. What can you do... we unfortunatley aren't in a position to rent out... if we were we'd have gone last year.. We are going out to validate on Monday and we are just going to have to ride it out - ours and eveyones else's lives that are in the same position are on hold.... for thoseof you that can, rent, rent, rent....

good luck everyone, karma sent,

Shelley

Re: Dropped The Price
 

I don't like the media at all but I don't blame them totally either.

Basic economics forces were always going to cause a downturn in the market.

IMO the relationship between wages and house prices just got too big. Where I live (Essex) ex-council terraced houses are priced at £235K when the UK average wage is probably between £25K to £30K or a ratio of 8 to 1. Sorry but that's ridiculous.

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Deedee we are in Wilmslow, so not far from you. Good luck with the house sale, things may start to move again when we eventually get some warm weather.

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Hi Donna,

There may well be a possible solution to your house sale problem.
I am not talking about selling to an "investor" at a massive reduction.
The possible solution would depend on location, property style / type, valuation and your willingness to rent out. This would give you a positive cash flow, no stress and then your lump sum later down the line.
Please feel free to PM me.

Cheers
Andy
ps. Please remember that I said "possible solution"

Re: Dropped The Price
 

our house is to go on the market after school holidays the estate agent told us of a guy buying a house right at the last minute asking the sellers to reduce the price or he would pull out as he had seen the recent press and wanted a bargain

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Morning Dave,

Thats kinda reverse gazumping.
Depends on the vendors needs as what to do about it. A game of poker and calling bluff. If the sale of the house you mention is "at the last minute" then by changing the price the buyer would need to have his mortgage offer amended and that could (right now) take a few weeks or at worse cause the lender to remove funding.
If I was the vendor I would not reduce as the longer the sale takes the more it is costing me and that kind of behavior is simply not Cricket.
Or, they could agree to a reduction that is actually paid as a cash back on completion. A simple couple of lines added to the contract. There is always more than one way round a sticky situation.

Good luck with the sale Dave.

Andy
ps. breaking news. First Direct have just effectively removed themselves from the mortgage market. :(

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Looks like this could be a long haul what a difference from last year didnt see this coming!!

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This is certainly what we'd do. One always needs two or more exit strategies.