Should I reduce UK house price now ???
 

Hi guys n galls

As a veteran in this migration game now faltering at the final hurdle i.e house sale in the UK.

We have a good 2 bed semi in a nice area, we have refurbished throughout the house outside and in in readyness for sale.

House fairly valued at christmas at 135 k , alas only one viewer to date.

The credit crunch fallout certainly having an effect, plus the weather/ time of year.

Should I reduce to £ 124,199 ?? hence no stamp duty , and 10 grand cheaper than one down the street to try and cut and run ? or hang on a while for spring to get nearer the current asking price.

This is our current dilemma....we have validated our visas and have to be there by 05/09 to qualify for citizenship.

Cheers

Dave

Re: Should I reduce UK house price now ???
 

Oh nightmare we are in the same boat but we are holding of until September time and hoping and praying to god that it sells!! There has been 2 houses in the estate which have been up for sale for about 1 year :ohmy: just hope ours isnt the same. Its hard because of our price bracket its not a small house......

Hope all goes well for you fingers crossed :thumbup:

Lyndsay

Re: Should I reduce UK house price now ???
 

I think you have to weigh up the financial implications of losing 10k against the frustration and disappointment of not being able to start your 'new life'. Everything's on hold whilst you wait for the illusive sale and how many people on here have had the rug pulled out from under them when the chain collapses at the last minute?

Yes, ten grand is a heck of a lot of money to 'lose', but what would your family gain in getting to OZ quicker?

My Aunt has been trying to sell her house in Nottingham for 3 years! She had her first offer over the Christmas and was elated, only to have the chain collapse at the end of January.

It's a tough call and only you can decide what would be right for your family. At the end of the day, the price is only a guide and £125k in the pocket is better than £135k in theory.

Good luck with everything!

Jules x

Re: Should I reduce UK house price now ???
 

Hi Dave

It all depends on your financial situation - me, if all was ready to go, visa in place etc and all that we were waiting for was the house to sell, I would drop the price - I would be really desperate to get out there and if the house is all that is holding you up and you are not in a pickle money wise, then drop and get on with it:D

Basty

Re: Should I reduce UK house price now ???
 

You don't.

You will be eligible to apply for citizenship at any time once you hace clocked up 4 years residency.

As far as I know only those who validated before July 2007 will still be eligible to apply for citizenship if they clock up 2 years residency before July 2010.

Re: Should I reduce UK house price now ???
 

honestly I think if you've only had one viewer you are overpriced...

credit crunch is hitting us all, and it doesn't look likely to improve any time soon so there is little benefit in holding out. In fact the value might go further still.

By the way what does your agent say? they should be advising you on this, it's kinda what they are paid for!

Re: Should I reduce UK house price now ???
 

Agree with this. Although a new agent maybe the way to go?

We're in same boat and waiting to sell, viewers our end our picking up nicely but offers are rather cheeky. Only you know what you can afford to accept. If we don't sell by the end of the summer I think you may as well forget it till next Spring and the clock is ticking :(

Good luck with whatever you decide.

Re: Should I reduce UK house price now ???
 

I think this sums it up.
if you can afford to drop then do it. You've only had one viewer so you need to do something. prices aren't going up that's for sure.
We've just reduced ours again.

Re: Should I reduce UK house price now ???
 

hi Dave.just be warned that if you reduce 10 grand and get people looking.then theyll still offer you less.We've only had 2 viewers since august and one offered just over half price.We've booked tickets to go and leave house on the market.What you have to remember is that houses are expensive in oz [especially perth] So how much can you afford to drop? I can't see the people in selling cheap here to go to Oz to struggle.Best of luck anyway.
Dave Wood also Oldham [not for long]

Re: Should I reduce UK house price now ???
 

We've just reduced by £5000 and accepted an offer of £3000 below that.

It's a buyers market. There's no point holding out for an unachievable price imo.
Of course nobody wants to give their house away either but in this market people need to be realistic.

The offer we accepted is £15,000 less than we originally thought we'd get for it. That's a lot of money in our budget :blink:
In a different market we would have held out for more but as I said - it's a buyers market.

Re: Should I reduce UK house price now ???
 

Have a butchers on housepriceladder.co.uk and see what else is up for sale in your local area, and pitch at that price or just under.
Also you can search the previous sales prices of houses, on record, for free, with a few companies, online.. no registration required, lists every house sale, on record back to 2000

Ste ( if you cant find links, I will get them later in the office )

Ste

Re: Should I reduce UK house price now ???
 

We have been on market 3 weeks and got our visa last week because of this we dropped 10k and we have now undercut all houses in our area and are on at the same price as the ones that need modernising.

We have had 3 viewers so far and one booked for tomorrow night. We have an offer on the table which we will accept they just have to sell their flat which goes on market this week they know we are still marketing though because we want the move.

Despite what the news is reporting people are still buying houses you just have to make them see yours as being the best on the market.

maybe we are lucky in newcastle but things are definately still being sold.

if you can afford it I say drop I think I saw you are heading to perth the way things are there if you are looking to buy knock what you have lost of the price of a property there. :thumbsup:

Re: Should I reduce UK house price now ???
 

Lets hope your not tempting fate !

Not to pour water on your sunshine ( cos I have fingers n toes crossed for everyone )

But, we have all been there.. in the very first few weeks of marketing.

Its called the Hot Zone.
Usually lasts for 4 weeks, immediately after house goes on the market. Then pitters off and generally dies a death a month down the line.

Im also selling a Uk property at the mo, so can understand ppls concerns and POV.

Steve

Re: Should I reduce UK house price now ???
 

Lets hope so to steve, but we have a good offer I hope even if we have to wait for them to sell.

They have a flat to sell and alll the flats near me are being snapped up in days from what I can see from the sale boards.

After much research we are now the cheapest and in a good university catchment area where a lot of parents are buying for their kids. :ohmy:

As I say I hope we arent tempting fate but I have to keep positive or this whole thing will wear me down. :(

good luck selling yours fingers crossed for you

kaye

Re: Should I reduce UK house price now ???
 

My advice, been there myself, be it back in 1994, but i know how it feels to be constantly wanting to be rid of my home?

I lost 30% of value from purchase to sale, 1990 to 1994, swallowed it, but life goes on, what can you do, smile carry on your time will come to recoup your losses, i did, could not care less now!

Reduce, i mean reduce to be competitive, not selective, but sexually competitive, like the buyer thinks " god, i would be a fool not to look at the house, then realises, its a good buy in a falling market, at worst, i will break even, i think i will pay the money etc etc?

Want is a desire, now fill the desire, give them the want, pay for their legal fee's, stamp duty, everything, give it them free, all they have to do is move in and pay the mortgage? Pay there 5% or 10% deposit, do the lot. I know, i have been there, spoon feed the buyer? They cannot resist the temptation of a house with no costs apart from the rent payable to the bank?

Believe me, in a falling market, you have to stoop to such levels to get your best price, but it will work, i know, i did it!

Sold it in 1994, and the property fell another 15% after, i cleaned up, as i offered well below on my new property, lost on my sell price, but doubled up this loss into profit on my purchase!

Just rent in Oz until your time comes in Australia, its all about timing, and patience, once sentiment changes, thats it, the game is up.

Good luck!!

Its real - http://iccoventry.icnetwork.co.uk/01...name_page.html