Asking price for a house has increased!

Re: Increased house price!

lexus said:
we have just been successful on a house which we paid 30K over the asking price for
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That seems reasonable enough to me. Maybe the vendor actually set a realistic asking price in the first place, not that impossible really.
 
Re: Increased house price!

It never fails to amaze me how many people give the advice 20% below asking price is fair in the current market.
Some asking prices are set more realistically than others. I bought a house 3 months ago with an asking price 12% lower than a smaller one a few doors up.
Before assessing what to bid you need to suss out recent market activity in the area and decide yourself how realistic the asking price is in the current market.
 
Re: Increased house price!

...how can one suss out reliable market activity info for an area if you (as a punter) do not have free access to actual sales price information?
 
Re: Increased house price!

if you call the estate agents they'll tell you where the bidding is at on the houses for sale in the area.
There are websites that show you if asking prices are falling and how long a property is on the market.
Finally look at the asking prices of all houses in the area rather than just the one you're bidding on
 
Re: Increased house price!

DerKaiser said:
if you call the estate agents they'll tell you where the bidding is at on the houses for sale in the area.
There are websites that show you if asking prices are falling and how long a property is on the market.
Finally look at the asking prices of all houses in the area rather than just the one you're bidding on
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hmm. not many houses for sale in my area & they seem to go sale agreed very fast, in which case the EA won't tell me what the price was.... I guess I'll have to start looking seriosly, although all I want is to come to an idea of the value of our house which we are thinking of putting on the market. i know, I know, get 3 EAs - but I'd rather make up my own mind as to value.

Surely there must be some public registry in which house prices are lodged?
 
Re: Increased house price!

In in the UK there are many free websites that record this information, sadly here I have yet to see one.
 
The asking price for some houses in the development I'm buying have increased from 320k (last September) to 329k (this week). What this translates to in actual price paid is anyone's guess.
 
Re: Increased house price!

DerKaiser said:
if you call the estate agents they'll tell you where the bidding is at on the houses for sale in the area.
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And do you think they will give you a straight answer?

We were the first to view one house and were told that, even though the office was closed, that they had an offer of almost the asking price.
This is between close of business the one day and our viewing at 9am the next morning????? It wasn't that hot a property.
 
And you believe the Estate Agent ?????? Oh I forget. They don't tell lies !!!!!!!!!!!!!!!!!!!
 
why is discussing the House market going down , temporarily banned on AAM
 
I think if you call 4 or 5 estate agents about the bidding on similar houses in an area some of them are bound to be truthful. The liars will not last long as they will not sell. The best estate agents are being truthful and pulling in commission because they're making deals at reasonable prices.

This is based on the shopping around principal, someone who buys the first place they see without checking the alternatives deserves to be shafted
 
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