Phylis   10 #577 Posted August 20, 2008 House prices did go up over two years though. Prices in most areas are still higher than they were 12 months ago. Only by a small amount but still higher. Share this post Link to post Share on other sites Share this content via...
nickyboyzuk   10 #578 Posted August 20, 2008 House prices did go up over two years though. Prices in most areas are still higher than they were 12 months ago. Only by a small amount but still higher.  If prices in most areas are still higher than they were 12 months ago, why are all the stats saying that prices in the majority of areas have fallen?  We have slashed 40K off our property in Crookes and it still won't move. My advice would be to offer 15-20% under the asking price and start from there. There is plenty of choice out there, so get as bigger discount as you can. Share this post Link to post Share on other sites Share this content via...
Tony   10 #579 Posted August 20, 2008 That tells you that it isn't the price that is the problem. Share this post Link to post Share on other sites Share this content via...
Phylis   10 #580 Posted August 20, 2008 If prices in most areas are still higher than they were 12 months ago, why are all the stats saying that prices in the majority of areas have fallen? We have slashed 40K off our property in Crookes and it still won't move. My advice would be to offer 15-20% under the asking price and start from there. There is plenty of choice out there, so get as bigger discount as you can.  Because prices went up before they have come down. You dont have to do much research to find the relevant numbers. If you have slashed money off of your property it shows that you were asking too much. Properties at the right price are still selling. It has already been proven that contuinually dropping the price wont sell your house. You need to make it stand out from the crowd. An alright house isnt good enough in a buyers market. Share this post Link to post Share on other sites Share this content via...
nickyboyzuk   10 #581 Posted August 20, 2008 Because prices went up before they have come down. You dont have to do much research to find the relevant numbers. If you have slashed money off of your property it shows that you were asking too much. Properties at the right price are still selling. It has already been proven that contuinually dropping the price wont sell your house. You need to make it stand out from the crowd. An alright house isnt good enough in a buyers market.  The problem is that we took the advice from the Estate Agent. I agree the house was over valued now, but when an Estate Agent walks in and says they can get you that figure, it is difficult to say the valuer is completely wrong. We had it re-valued at £40K less, have made some serious improvements and have put a new roof on it. One viewing in 4 months and they loved it, but due to the extensive choice of unsold property on the market they found something just that bit more perfect.  I think we will stay put for the time being and see what happens in the future. Share this post Link to post Share on other sites Share this content via...
Cyclone   10 #582 Posted August 20, 2008 That tells you that it isn't the price that is the problem.  Price is not something you can seperate out from supply/demand.  If demand disappears because of changing lending criteria then prices have to fall. That means that price is the problem, caused by a fall in demand, caused by a change in credit criteria, but still the problem, price it low enough and someone will buy it. Share this post Link to post Share on other sites Share this content via...
Phylis   10 #583 Posted August 21, 2008 You have to make the property stand out and appeal to as many buyers as possible. A new roof may be a bonus but if the interior is not what people want they will just move on to the next property. You have to make yours stand out. Make the most of your proerties best features and highlight them. What has your property got that others in the area dont have. If you have been on the market for a while, think about remarketing. Once the buzz has died down you need to make more noise about your home. Share this post Link to post Share on other sites Share this content via...
nickyboyzuk   10 #584 Posted August 21, 2008 You have to make the property stand out and appeal to as many buyers as possible. A new roof may be a bonus but if the interior is not what people want they will just move on to the next property. You have to make yours stand out. Make the most of your proerties best features and highlight them. What has your property got that others in the area dont have. If you have been on the market for a while, think about remarketing. Once the buzz has died down you need to make more noise about your home.  The interior is fantastic and we have only received positive comments. We have renovated the attic room and have turned it in to a fantastic 3rd bedroom. The house has lovely period features and the last couple that viewed it, loved it. The only reason they chose something else is because it had a driveway. I can't do much about that on a mid terrace.  Our Estate Agent has been very poor and didn't contact us for 4 months before this last viewing. If I go with another Estate Agent I have to do a hips report, so that's more expense. They have just lost their franchise so I hope the new staff will do a better job. Share this post Link to post Share on other sites Share this content via...
nickyboyzuk   10 #585 Posted August 21, 2008 For all of you who though i was mad investing in a down and out company like Barratts i have just recieved my valuation statement for the month. From 35p to £1.60 in little over a month isnt something to be sniffed at. I told you i wasnt mad.  Todays value is £1.20. So based on on £1.60 you have lost 25% in a few weeks.  Quit while you're ahead. I think these shares will fall again and you could clean up again. Share this post Link to post Share on other sites Share this content via...
numbercrunch   10 #586 Posted August 21, 2008 and dont forget the shares she was given through the merger with Wilson Bowden which were worth £10 each at the time and she held on to them til now........ Share this post Link to post Share on other sites Share this content via...
Phylis   10 #587 Posted August 21, 2008 and dont forget the shares she was given through the merger with Wilson Bowden which were worth £10 each at the time and she held on to them til now........  Yes but dont forget i also got £10 per share so they were in effect free!. Im in no rush to sell. I will wait while this whole mess has been sorted out. I can wait for another 5 or 6 years if need be. Share this post Link to post Share on other sites Share this content via...
Cyclone   10 #588 Posted August 21, 2008 Yes but dont forget i also got £10 per share so they were in effect free!. Im in no rush to sell. I will wait while this whole mess has been sorted out. I can wait for another 5 or 6 years if need be.  So you've freely lost £8.80 per share. It doesn't matter how you come buy them, value lost is value lost.  Persimmons is in trouble at the moment isn't it, keeps making the news how the shares are tumbling and profit is down by 95% or something like that. Share this post Link to post Share on other sites Share this content via...
