# average length of time to sell



## Sarah (26 Mar 2007)

Hi all,

I posted about selling my house here before so apologies if its in the wrong place or cant be answered. As per my other post my reason for selling is due to a sick family member which is why im anxious about the time frame as the relation in question is poorly. Its the start of the third week of our house being on the market in Athy,nice location and 4bed semi at a good price, so far two appointments were made to view the house and then it was a no show as the estate agent couldnt get through to them to confirm a time...is this normal practice or is the EA Bluffing? But in relatition to my origional query, on average can anyone tell me or point me in the right direction to the whereabouts of such info, does it take to sell a house in the kildare region? Perhaps im being a bit impatient...the responce im getting from the EA is mixed with answers like" its only coming into the spring so things should start moving" then " with the stamp duty argument in the election things are slow"...so can anyone shed any light or opnions? Any info would be great.


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## pinkyBear (26 Mar 2007)

Hi Sarah,
We sold a house 2 years ago and it took us about 6 weeks. I would agree with the EA, in that the winter can be slow enough and tings tend to pick up during the summer.

Things may be a little different now with interest rates rising , debates about stamp duty are also tending to slow things down. 

I think it has gotten to the stage where it is a buyers market.


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## mf1 (26 Mar 2007)

It will take as long as it takes. All you can do is make sure that anything you can do to help is done - i.e. keeping everything neat and attractive, making sure house is well advertised etc.,etc.  I have had clients with properties on the market for over 6 months. 

In the current climate I suspect the EA will be very happy to find you a buyer so that they will get paid  but I understand that buyers are somewhat thin on the ground - for all kinds of reasons.

Keep your fingers crossed and if you're religious, a few decades of the rosary ( my mother swears by this) won't go amiss. 

mf

mf


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## polar (26 Mar 2007)

Hi Sarah,

Someone else is talking about selling in Athy over on Daft:

selling house in athy?

It might be of interest to you.


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## col (26 Mar 2007)

Sarah
The market is very flat all over. A friend of mine who is an auctioneer has not sold one second hand house this year. He blames the stamp duty issue. Dont panic just yet.All you need is one interested party.


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## beattie (26 Mar 2007)

Have you thought about undercutting the other houses in the area in an effort to drum up some attention. As the market is slow you may need to take a course of action that many find unpalatable but otherwise you could be posing the question again in 2-3 months time.


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## Harlequin (26 Mar 2007)

I agree with beattie - price is very important to attracting interest.

I've seen a few 3 bed semi-d houses priced maybe 10 or 15 K above the FTB threshold not selling for a few months, then going sale agreed within three days of dropping to €317 500. Know your target market and set your price accordingly. 

And if your primary concern is selling as fast as reasonably possible, rather than getting the absolute best price possible however long it takes, then a lower AMV should help you achieve your objective.


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## Sarah (27 Mar 2007)

Hi All,
Thanks for your replies.
In responce to some of the replies, i have set my asking price to be about €10000 less than the other houses around and there is not that many so its selling at €305000. Im hearing two different opnions depending on who im talking to...a few people said they sold within 2 months(apperantly this is now the normal time frame of selling a 2nd hand house) one even said she sold within 2 weeks of putting the house up for sale in Kildare!! Then others are saying it takes about 7-8 months!!! Very pessismistic but what can you do except hope and know that whatever happens people will always need somewhere to live so houses will sell eventually. Although i do need to sell i also need to make a half decent price otherwise there is no way we could afford aother place but i think the asking price is very reasonable, below FTB Stamp duty and in a good location, large 4 bed house and below the other houses asking price. The EA agrees, in fact he wanted us to ask for more but were trying to be reasonable and also given our circumstances we thought it best although if someone has a better outlook on this please let me know as i really appriciate the views on here.
Thanks a mill

Sarah


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## undersupply (27 Mar 2007)

http://www.daft.ie/searchsale.daft?search=1&s[cc_id]=c3&s[a_id]=&s[mnp]=&s[mxp]=300000&s[bd_no]=4&s[search_type]=sale&s[refreshmap]=1&limit=8&search_type=sale&id=196357

Heres a 4 bed semi d in Athy for 265k & it hasn't sold yet.

You could put yours on at 250k just to see if there are any buyers & hope for a bidding war.

If no-one views no one will put a bid in.


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## Headachecity (27 Mar 2007)

I hate to be pessimistic about things but unfortunatly it seems to be the way things are going in the likes of Athy, it's very far away imho and alot of FTB's bought there and will struggle to make anything on their houses if they sell them at all. The town has always been very dismal and not much in it. The houses down there are really lovely but the prices are falling fast, followed by the likes of Kilcullen. A friend of mine struggling to sell there at the moment despite reducing the price of the house by €18k!. Blame the government, overdeveloping towns with nothing in them and miles away from jobs etc.
I really hope you do sell your house and get what you need for it but be prepared for a long wait and probably another price drop to sell it.


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## DeBarr (27 Mar 2007)

Agree with Undersupply - at the moment it's a numbers game - you need to get the punters in through the door to get an offer. The only way this can be achieved is by making it attractive financially in comparison to other houses in the area. Then when they are viewing hope the house hits them at an emotional level and they start bidding. 

Property buying is part financial but mostly emotional - just look at all the part time developers on Reality TV shows that restore a property to their own expensive taste even if it means they won't make a profit when they come to sell.


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## plaudit (27 Mar 2007)

If i was selling now I would undercut the asking price significantly, from say 300K to 260K and see what kind of interest it generates, the object is to attract a few serious bidders. You don't have to sell if you don't like the final offer.


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## Sarah (27 Mar 2007)

thanks again to everyone taking the time to reply...the house in question for €260 is actually quite far away from the town so you would need a car just to get ot the train station. Ill give it another week or so and see what happens...i presume the two viewings we nearly had! wernt put off by the price so fingers crossed as its a good price in my opnion but have to see what happens...Ive heard it can take 90 days to sell...is this average?


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## Dreamerb (27 Mar 2007)

Sarah said:


> Ive heard it can take 90 days to sell...is this average?


It's probably approximately average, but to be honest, averages in this situation don't tell you a lot. Some houses sell in a matter of days, some linger on the market for months for a variety of reasons (they may be overpriced or for any number of reasons they may appeal only to a limited group of possible buyers). 

If you're really worried, I think the best person to talk to is your agent: s/he should know what the market in your general area is like, and whether your property is taking an unusually long time. Alternatively, you could contact another local agent and put the same general question - but bear in mind, agents may talk to each other, and join the dots...

mf1 probably has it right - it takes as long as it takes. Keep an eye on the local market yourself, and I don't think you should panic unless similar properties are obviously either much cheaper (or better properties are in the same price bracket) or are being sold much faster.


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## nad (27 Mar 2007)

Hi Sarah 
In my opinion it's all about supply and demand, and at this present time the demand for houses is less than say 6 mth's ago due to anumber of different reasons,So imho if 305k is the price you need before you sell you need to be patient and don't panic sell,and if nothing is happening in say another 2 month's then review your situation,I'm in the wicklow area and there are houses on the market around here since before christmas.


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## bleary (27 Mar 2007)

You May know that the other estate is a drive away but people from outside athy probably wouldnt and would be comparing based on that so consider the price and competition
Looking for a house myself at the mo and have to say that Photos are really important -ask a friend for objective advice on the photos included with your posting -You might be very proud of the house and what youve done but it mighnt be to everyones taste 
Its obviously not attracting people to come for viewings why not?

1st are the photos bright ? any bit of shadow or darkness puts people off 
2cd Any clutter ?-i would remove as much as I could 
3rd Space? try to show as much as possible take out furniture etc 
4th Neutral? -no bright colours consider painting any strong colour schemes in the house to  magnolia 
Again consider dropping the prices You dont have to sell for that price but at 305 im thinking wont go for under 317 
at 295 I think it might


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## Sarah (28 Mar 2007)

Although i appriciate everybodys comments both positiave and negitave there is no reason to be sarcastic - see last post. For what we paid for the house ,the size of the house and what we have gotten done to it is the reason in my opinion, why i feel 305 is a reasonable price to pay for the house...although not smack bang in the middle of dublin or the likes i still commute every day and have done for near 2 years and have had no problems so its a reasonably good location. Although the price is negoitable i would not be able to drastically drop my price as although i will have to live with the sick relitave in question for a period of time, i will eventually be wanting to buy my own place near to them and could not afford to do so if i did not make any profit on my current home. -Again, thanks a mill to everyone's responces...the general concensus is to ride it out and the house will sell for  near to the asking price...would that be correct?


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## Thrifty1 (28 Mar 2007)

Sarah, dont mean to be brash here but am i right in saying that the only reason you are selling is to be with a sick relative and would be looking to buy again when he/she dies?

If so would it be an option for you to rent until then and then move back into your house?

Im selling myself and know its stressful so its nice to have another option so you dont have to drastically reduce your price in order to get a quick sale.

Honestly if i were you id expect to have it on the market for a few months, houses are selling just not as quick as before, try not to panic.


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## Sarah (29 Mar 2007)

HI,

I actually have thought about the renting option but it didnt look feasable for us..perhaps in a month or so we will review it again.On a personal note, with everything going on im not sure if i would wish to be a landlord just yet, although i do know you can rent through estate agents.
My unwell family member i was referring to is not terminal so therefore the length of time of care will depend on several things, although they are elderly.So although in the future we would probally get our own place, we would be staying with the relation for some time.
Undersupply -Fair enough...fingers crossed for a sale soon though!
Does anyone know if like in England, there are companies that can buy your house from you quickly?


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## room305 (29 Mar 2007)

undersupply said:


> ... or wait till after the interest rate rise in june or the next one in september ...



Unless you are regularly intimate with a certain French banker I would have to question how you are so certain about the timing of future interest rate rises? Certainly if I _knew_ how many rate rises to expect this year I would be out making a killing on the bond market, rather than wasting time posting sarcastic comments on AAM.


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## room305 (29 Mar 2007)

undersupply said:


> The markets have priced in more interest rate rises, look at M3 money supply 10% for february these will decrease affordability for geared house buyers, I am trying to help out the poster without discussing house prices, a quite tricky thing to do, hence my focus on rates, etc.
> Trichet has been very frank, no pun intended, about his intentions to deal with excess liquidity & very predictible in his timing.
> Wait to hear him say "accomodative" in the next ECB report.
> I do make a killing on lots of markets, btw, with lots of help from my internet friends



9 month Euribor futures currently price in a 40% chance of two more rate rises (Dec 07). 6 month Euribor futures only price in an 11% chance of two raises (Sept 07).

As I said - if you are that confident of your forecasting ability, open an account and make a killing on the Eurex exchange. Bid price on the 3 month is hovering around the 95 level right now.

Any further discussion should probably be moved to the ECB rate rises thread but I just wanted to point that neither you nor I know when or how many rises there will be. We are merely speculating so why not put your money where your mouth is when you do so.


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## CCOVICH (29 Mar 2007)

room305 said:


> Any further discussion should probably be moved to the ECB rate rises thread but I just wanted to point that neither you nor I know when or how many rises there will be. We are merely speculating so why not put your money where your mouth is when you do so.


 
Agreed.

But this thread has the feel of a 'how long is a piece of string' question.


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## CCOVICH (30 Mar 2007)

Folks-please continue the dicussion on the future movements of interest rates in .

You are of course free to point out to the OP that the information in that thread may be of use to them.


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## angela59 (30 Mar 2007)

Hi Sarah,

Ignore that SARCASTIC reply, you'll get one of them on every forum - they must have plenty to feel smug about. Anyway Sarah, if it is of any consulation, I am selling my house also, I won't mention location or price but at the moment the vibes I'm getting is that whatever the price I don't think people are viewing.  An Irish Times Journalist wrote recently about her property being for sale and no one viewing.  If you have put good money into your house - hold out for the price, it will take time I'm sorry to say.  We have our house up for about 3 weeks and 1 viewing and in general this is the trend, the market is very gittery and after the election will stablise - the government have alot to answer for with the stamp duty - they will get rid of it for first time buyers and so they should but for high end properties I doubt they will - this is their bread and butter.  Have confidence but I wouldn't sell below what you feel it is worth to you.  I hope that your relative makes a recovery.


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## beattie (30 Mar 2007)

angela59 said:


> If you have put good money into your house - hold out for the price, it will take time I'm sorry to say. We have our house up for about 3 weeks and 1 viewing and in general this is the trend, the market is very gittery and after the election will stablise - the government have alot to answer for with the stamp duty - they will get rid of it for first time buyers and so they should but for high end properties I doubt they will - this is their bread and butter. Have confidence but I wouldn't sell below what you feel it is worth to you. I hope that your relative makes a recovery.


 
This seems to be the mantra that alot of EA's are using. As for getting rid of SD for FTB's I wouldn't be putting all my eggs in that basket. The government needs to get money from somewhere and with reports that the economy could be slowing they mightn't be in a position to abolish it.


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## room305 (31 Mar 2007)

beattie said:


> This seems to be the mantra that alot of EA's are using. As for getting rid of SD for FTB's I wouldn't be putting all my eggs in that basket. The government needs to get money from somewhere and with reports that the economy could be slowing they mightn't be in a position to abolish it.



I agree. I think the SD issue is a bit of a red herring. If you are in a hurry to sell, perhaps you could offer to pay SD for the buyer?


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## room305 (31 Mar 2007)

undersupply said:


> http://www.bloomberg.com/apps/news?pid=20602093&sid=awfK0adNXGQk&refer=rates



Reply .

For those of you fretting about further interest rate rises be weary of listening to hawkish posters who may have their own agenda or dovish bank sales people (who definitely have their own agenda).

The bond market is an unbiased expert view of where rates are going from people have backed up their assertions by putting money on the table. Currently the market seems split on whether there will be two more hikes, with the rise in oil prices causing them to lean slightly in favour of two hikes. They see one hike as almost definite at this stage.


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## thewatcher (31 Mar 2007)

In the context of this thread whether rates rise 1,2 or 3 times doesn't really matter they've already done there damage,the empties are going to bury us now.


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## Z100 (31 Mar 2007)

Just put my house on the market and I'm getting the same 'wait til after the election and the offers will roll in' line from the EA! I'm lucky to be in a position where I'm not in a huge hurry to sell, which is just as well, I've a feeling it'll be a long, long wait. My house is a three bed semi and there seem to be half a million of them for sale (in the same price bracket) out my way (west Dublin). I know, I know, property market speculation is banned, but it's a hell of a change all of a sudden. Genius that I am, I think I bought at the worst time, and am selling at the.....worst time.   Oh well, such is life.


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## angela59 (1 Apr 2007)

Well Undersupply,

I will have to agree everyone is spooked at the moment - I think we have the Government to thank for that - no harm to reduce stamp duty but they certainly won't delete it. From reading this forum and talking to other people at the moment, viewings are way down whether your house is a mansion in the country or a semi detached in a town or city at the moment there is no market perhaps until after the election. By the way your comment on being in stubborn denial, I'm not the argumentative type but it depends on how desperate you are to sell, everyone's situation is different - I personally would not sell my own property below what it has been valued for by 4 different auctioneers, I have had quotes to rebuild and I would not have much change from the asking price if I were to sell and build a house of the same caliber - this doesn't even include the price of the site. So point being you also have to set your own value on your house within reason.


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## thewatcher (1 Apr 2007)

angela59 said:


> viewings are way down whether your house is a mansion in the country or a semi detached in a town or city at the moment there is no market perhaps until after the election..


 
This is the second time you've posted that,this lady's property is not even subject to stampduty for a FTB,so there is no uncertainty with regard to her property.This constant, "it will pick up when x,y,z happens" is not helping people that wish to sell now.



angela59 said:


> By the way your comment on being in stubborn denial, I'm not the argumentative type but it depends on how desperate you are to sell, everyone's situation is different - I personally would not sell my own property below what it has been valued for by 4 different auctioneers.


 
I may be wrong but i think that is the denial that undersupply is talking about.Bear in mind auctioneers will give you a high "value" in order to get the business,then reappraise the value when you start complaining about no offers.Depending on when your property was valued it may not be worth that now,you can say all you want i'm not selling below "x" price,but unless you can find someone willing to pay that you will not sell your house.You do not set the price,the buyers do !.

You might blame the government,but i'm putting my money on a worldwide speculative bubble unwind.


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## fionamac (2 Apr 2007)

Sarah said:


> Although i appriciate everybodys comments both positiave and negitave there is no reason to be sarcastic - see last post. For what we paid for the house ,the size of the house and what we have gotten done to it is the reason in my opinion, why i feel 305 is a reasonable price to pay for the house...although not smack bang in the middle of dublin or the likes i still commute every day and have done for near 2 years and have had no problems so its a reasonably good location. Although the price is negoitable i would not be able to drastically drop my price as although i will have to live with the sick relitave in question for a period of time, i will eventually be wanting to buy my own place near to them and could not afford to do so if i did not make any profit on my current home. -Again, thanks a mill to everyone's responces...the general concensus is to ride it out and the house will sell for near to the asking price...would that be correct?


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## fionamac (2 Apr 2007)

> ..the general concensus is to ride it out and the house will sell for near to the asking price...would that be correct?


 
Hi Sarah

I have my own website selling property privately and I can tell you that the length of time it takes to sell your property does vary. Having it languish on the market for too long is not the ideal as the property will become "shop worn". Yes, the market has slowed and yet in Kildare for example 2 of our houses sold recently, one within a week and the other within 2 weeks. I am happy to send you on their ID numbers and the site if you would like to try and get in contact to verify. Others remain on the site for much longer. So, why do some sell quickly and others not? There are a number of variables that any seller needs to get right in order to sell a property but is even more important to get them right when you need to sell quickly.

Pricing your property...

If you are getting very few calls, or calls but buyers are not following up then your property may be listed at too high a price. That is not to say that you won’t get the price you are looking for, or even more. However, in order to achieve your best price you need to entice people to view your property ie increase the footfall over the door. Increasing the footfall through the door increases your chances of getting a higher price for two reasons. Buyers set price lines in the sand beyond which they will not go to view a property. Yet, if buyers view a property they like, they will frequently bid over that line in the sand. Secondly, you increase the chances of two or more people bidding for your property which will obviously drive up the price. So don’t lose the margin of people that would come to see your house at a lower guide price who will bid up if they like what they see. 

Research the guide prices for property in your area using the internet and property sections of local newspapers. Make sure you are not benchmarking with a property that has been for sale for a very long time. You will need to know, not just the price at which similar properties are guiding but also the price at which they are actually selling. So, a good benchmark for your guide price is the price for which properties in your area have sold. 

The guide price for other similar properties in your area (unless for sale for a long time) will indicate at what price to advertise your property. The price at which similar properties have been sold recently suggests the upper end of your guide price spectrum. 

Presenting your home for sale..... 

If after showing your property you are not getting bids it may be that your home is not showing itself well. If you are getting calls it indicates that your guide price is at least competitive for your type of property and location. So, if the price is fairly accurate and buyers have viewed your property but have not made any bids, it may indicate that you should look at the presentation of your home both inside and outside. 
If you are getting calls and viewings but no bids you may not be presenting your home in its best possible light. Ask yourself honestly; is it scrupulously clean, fresh smelling, de-cluttered and tidy? It may seem like a cliché but it does increase your chances of selling if your home the more neutral and depersonalised it is. So it is important to ask yourself does it have a neutral colour scheme or do you have a colour scheme and décor that you know some people will love BUT others will dislike or even hate. Remember, when it comes to selling your property you are trying to appeal to the broadest market possible in order to get your best price. Chances are if your property elicits a very strong reaction from people, some of that reaction will be negative. 

Buyers decide very quickly whether they are going to buy a property or not. By keeping your property clean and tidy, removing clutter, personal collections and extra furniture and by keeping your colour scheme as neutral as possible you are helping the buyer to visualize their furniture and their collections in your home. You want them to have “moved in” before they leave your property. This sounds like psycho babble to some people but really, there are very few buyers that can see past clutter and personal tastes etc.

Letting people know your property is for sale...

Auctioneers tell us, the majority of properties are sold locally with over half of sales leads generated by For-Sale boards. I'm guessing you have a board up but I do know sellers that want to advertise to the world on the net but don't want a board up outside their door!

It is estimated that about 80% of buyers go online when looking for property so its impotant that you get your property advertised online. 

After on-line advertisong and for-sale boards(including directional boards if off main road) you should consider advertising in the property section of your local newspaper. 

Let your family and friends know you are selling. The majorith of properties are still bought locally! You never know where a sale will come from. You could also print of flyers with the details of your property and put them up in your local shop etc..

If you consider and address these issues you should be well on your way to getting sold quickly. Best wishes for a quick sale].


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## angela59 (2 Apr 2007)

Reply to thewatcher. I think the seller has as good a say as the buyer in whether they will sell or not - after all it is a negotiation between to parties on a price - the way you're talking it is as if the buyer dictates everything. And to answer your point regarding valuations being out of date - my property was only recently valued and I am in the happy position if I sell well and good, if I don't I'll stay put and further enhance my property - I'm not panicked by negativity. I'm not going to get caught up snipping - it was Sarah I was trying to help and perhaps advise. Good luck Sarah with your house, I hope you get the best price possible - pity there aren't a few more people out there like you to look after sick relatives.


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## HotdogsFolks (2 Apr 2007)

Sarah do you mind me asking how much you paid for the house?

It would be fair to assume your need for a larger profit on the sale doesn't outweigh the need for a quick sale? (not sarcasm)


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## thewatcher (2 Apr 2007)

angela59 said:


> Reply to thewatcher. I think the seller has as good a say as the buyer in whether they will sell or not - after all it is a negotiation between to parties on a price - the way you're talking it is as if the buyer dictates everything. And to answer your point regarding valuations being out of date - my property was only recently valued and I am in the happy position if I sell well and good, if I don't I'll stay put and further enhance my property - I'm not panicked by negativity.


 
But sure isin't it all relative, you can adopt that attitude as you do not have to sell,you'd like to but you don't have to, you are esentially "testing" the market.If you find someone willing to pay what you think it's worth grand,if you don't fair enough. 
I was half looking at a property a few weeks ago, where someone(not me) offered the asking price,the vendor then took it off the market and put it back on with an increase of €100,000.This in a falling market,after talking to the agent, it became clear the vendor was a messer, who was looking for the last of the "fools" and was quite happy to withdraw the property from the market for good if the price did not reach their expectations. 

If on the other hand you had bought your "ideal" property with a bridging loan on the expectation that you would sell your first home no problem on the advice of your agent/broker/banker or that investment property isin't turning out to be such a great investment,you may see things in a different light.

Luckily sarah does not seem to be in this position.


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## angela59 (2 Apr 2007)

Reply to thewatcher.  Well I think that vendor that withdrew and put it back on market for 100,000 is being pure greedy.  Thankfully I don't have bridging but I have bought land and have a mortgage to go with it hopefully to build an energy efficient house but planning will dicate this.


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## Elmay (11 Apr 2007)

Also selling house in north Dublin at the minute.  Has anyone had any experience with hiring a home stager to enhance the property for sale (declutter, reorganise furniture and accessorising) so that it will appeal more to buyers


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## Lulu123 (11 Apr 2007)

Hi Elmay, 
Havent hired anyone to do this but was thinking of setting myself up as a home stager am just looking into it at the moment. I am currently selling my own house in North Dublin Would give you some free advice if you like. 
Lulu


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