Hiya

Any thoughts appreciated!

We're thinking of putting an offer in on a house on Meersbrook Park Road, which has been evaluated by Saxton Mee at 225k.

This seems a bit steep in the current climate, when houses in this area (this road and Burnside Ave) have been selling for less than 200k this year.

This house is bigger than some on the street, but it is on the corner of a no-through road, and so more exposed than most on the street.

Considering that house prices have dropped 5% in general in Sheffield, why are the agents still pushing up the prices?!!

Any thoughts on Saxton Mee overvaluing houses, or your thought on whether this price is realistic would be much appreciated!!

We're in a fairly strong position as we have sold already and our sale is progressing (first time buyers are buying our house), so I was wondering whether to aim at around 5% (in line with the general drops in the last few months) less than asking price, especially since many houses in this price bracket are being reduced by 5-30k?

Cheers

Tigs

Well next door and next door but one sold for 185 and 190 last year.
The market has slumped since then so yes Id say they are having a laugh.

Offer less than 190 or you will have negative equity when the crash happens.

Did you know they actually bought it for 88,000 just over 4 years ago so they are sitting on a huge pile of cash even if you go in at 170?

Cheers - knowledge is power

d

Yeah, I'd hold out for a bit if you can....


I can see prices coming down percent by percent over the next 12 months or so.

Unfortunately, I don't have the guts!

We have sold our house and since we are so picky it might be a while before we find another we like!! We saw 11 this weekend!

We offered 12.5k under the asking price today. Normally we've been going in at the asking price, so this is quite brave by my standards!!!

I suspect it is well overvalued and that the real value is probably 210k ish. On the other hand it is a massive house and nicely done, so I don't intend to move any time soon again (the house buying and selling charade is sooo stressful!)

Chances are, they'll trying holding out for other offers anyhow. All the vendors we've met recently seem in denial about the state of the market, though they are all very keen to supply their tel no.s for a possible second view!

Many thanks for the reply

:D

Tigs