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We have had our house on the market for 1 month and had 1 viewer so far but they didn't like the property. Up until the middle of last year a 3 bed semi on our estate would be on the market for no longer than a month priced at around £230000. We decided to move to Oz back in November and spent 5 months doing up the house. There were 8 properties for sale in Nov at 230 to 235 and they are all still on the market at £10000 less plus another 11 have gone on the market since.
I guess we now have so many sellers and not enough buyers that either cannot get a mortgage for that amount or are not willing to buy at these prices.
We put our house on at £215000, at least £5000 less than the rest with two extensions and one of the few double garages on the estate but it seems being the cheapest and having more space than most is still not enough to attract buyers.
If we are offered anywhere near £200,000 we are going to take it as who knows where these problems will take the market in a years time.
The buyers have us over a barrell at present so I would say have a think about it, if you are offered an amount that still gives you a nice fat profit on your original buying price it might just be worth it.
Fingers crossed and the best of luck to us all.
Nigel
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