I've just had my first ever valuation experience which had left me feeling totally deflated. Not just the actual valuation, which if we were offered the asking price wouldn't be that bad but... little niggly things like the re-pointing obviously would put a lot of people of and it will be done and painted before we go on market. But this EA man didn't even mention it till I pointed it out. Anything like painting the doors which I meant to change eventually, he just dismissed and said I was being overly critical. I want/need the best price for this house, surely doing a lot of little jobs that will cost basically nothing is definitely worth it?
My garden, which I'm sorry is really good for this area, he was like "oh, no I like it" like it wasn't to be liked. Little features I would've remarked on like the range cooker etc. he didn't even mention, he just went on about the "feel" of the house.
and he never even mentioned my front garden with my anchor that is my pride and joy. Or my block-paving or my nice gates with balls on.
Is this what they are like then? I was expecting him to check the outhouse, the garden properly (not just glance out of the window once) and the outside store cupboard, the boiler, understairs.
I really thought my house was nicer than the impression he left me with.
Don't feel too upset! This is why I have always taken the responsibilty for showing people around my houses when I sold them. You have the enthusiasm and can point out all the positive good points of your house which can enthuse a buyer, rather than an EA who is only seeing the amount of his commission.But yuu can get some EA who will be enthusiastic, though they are few and far between.Try another EA and if you get the same impression, why not trying selling your house yourself and show your viewers round, it does work.
Valuations are very general. Our's was compared to similar properties in a much less popular area, with far smaller gardens. I always thought it was undervalued even though three different valuations came in within a few thousand pounds of one another. However as the first person to see it within 24 hrs of it going on the market offered full asking price with two more in the queue I suspect my valuation was nearer the mark. Still, what can you do?
So far as fixtures, fittings, garden detail etc, IMO these only make a house easier to sell, not more valuable. Our place is very basic and buyers don't believe they're paying for someone else's interior choices.
Basically when we looked round mid 06 it had been valued at £127. We paid £122. We've had all the fascias, gutters done, all ridge tiles done, the drive block-paved, the garden completely sorted, as with the front, the porch completely sorted as it was awful, we've re-decorated with neutral throughout (it was purple, orange, stripy, floral ) and we renewed all floor coverings. We put in a range cooker and re-did kitchen. This man today ignored ALL of the above and told me like I should be delighted that I'd "definitely get" £130 - NOT
The run-down one at the end with single glazing, rotten fascias etc. and tatty front, drive and garden is up at £125.
I think what annoyed me is that he called he "critical" whereas of course I'm going to smarten up the house to achieve the best price. He seemed more interested in putting it on as it is, for a "very" realistic price and accepting what he called "might be a disappointing offer" then I could go make my own "disappointing offer" on the one I want.
Buyer's market HC and don't forget EA's are down valuing properties in today's economic climate to obtain realistic selling prices. As hard as it might sound you may well have carried out repairs and maintenance to the property you bought and you have added value from £122k to 130k and an £8000 return is not bad for what you have done to improve the chances of selling your house for a higher figure than you actually paid. Mel.
How disappointingly queer that I have bought into a tiny one-house pocket impervious to the 8% rise that happened round here last year alone. Early last year one like mine sold for 137 because they wanted a quick sale.
Shame, because if everyone else's prices have risen accordingly like normal throughout the country since I bought, which is what I'm seeing on Rightmove, especially identical ones I was looking at back in early 06, and mine hasn't - it's staying here for us then they're all up 20k with no work.
If you could possible hold out for a while before putting on the market, you may get the 137,000 ish which it sounds like you deserve. I think the media is mostly to blame for the fuss at the moments saying there is to be a crash. Well yes there will be if they keep paniking everybody! And soon they will be @encouraged@ to spin it differently.
But presumably emmgem if she holds out and gets more later, the property she wants to buy will also have increased in value.
I agree with Mel, neutral decor and a nice garden are good selling points, but doubtful if they would increase the price in themselves. But noone is going to notice nice new guttering, or pay you for the cooker of your choice.
But you've only had one valuation - other EAs may be more optimistic.
Originally posted by emmgem: If you could possible hold out for a while before putting on the market, you may get the 137,000 ish which it sounds like you deserve. I think the media is mostly to blame for the fuss at the moments saying there is to be a crash. Well yes there will be if they keep paniking everybody! And soon they will be @encouraged@ to spin it differently.
Hmmm, but what happens if these predicitions do come true....then "holding out for more" may turn into "chasing the market down".
Sentiment drives house prices.....and sentiment has turned quite badly over the last 12 mths.
Their survey certainly would've done had we left it. Just like ours did. And the garden particularly the patio was downright dangerous. It didn't cost nothing to make it into this safe, pleasant area. It isn't all posh landscaped and very personal - it is very simple. We haven't just planted some daffodils, we went to the expense of creating a proper lawn etc. which is what it needed. The state of it was reflected in the asking price the first time round, I don't think that reflecting the complete transformation in it in my asking price is unreasonable.
I agree that this ridiculous panic is going to actually cause a crash where there wasn't one. There otherwise would've been a slowdown or stale period. Buyers, newspapers etc. running around like headless chickens isn't helping anyone. God if enough people ran around with cries of a boom everybody would believe it too. Pathetic of people not too actually look into the real figures and make up their own opinion instead of absorbing all that scaremongers on TV are throwing at them.
Originally posted by holy cheeses: Pathetic of people not too actually look into the real figures and make up their own opinion instead of absorbing all that scaremongers on TV are throwing at them.
What are the real figures then HC?
Would you say that the Royal Institute of Charters Surveyors (RICS) might be a reliable starting point? What figures did they publish earlier this week?
The general gist of that is what I would've been doing anyway as what we start at offering and the max we can go to elsewhere will be dependant on this house sale.
It was his notion of leaving the house as it is, with some very visible bits that need doing and accepting a "disappointing" offer then using that to try bring the other one down that I didn't like.
Why would I do that? Market my house in a tatty condition?! I really feel that first impressions can affect the value of a house in the sense of putting a buyer off. Little things count for a lot. See house doctor episodes and she's not doing anything like re-pointing the house. I just can't believe tha the didn't mention that did I not want to have it done to smarten the house up? Whatever happened to upping your kerb appeal?!
I suppose I'm thinking like a buyer. Like ooh, look at them nice gates, ooh, posh block paving. Which is not necessarily a bad thing.
I can't exactly blame the EA as a lot of things are a bit tatty or unfinished at the mo, I have an A4 two coloumn list of little minor jobs! But I did ring first and ask if they needed me to do the necessary jobs first and the lady said no, he'll come - just tell him what will be done.
and I did and he poo-pooed the lot of it calling me critical. No, just trying to maximise my chance of a good sale - isn't that what they tell you to do? Why would I leave my radiator cabinets unpainted?! Why didn't he look at me funny and say "love, you're trying to sell this house, are you going to er, paint them?"
hopefully tomorrow they will say "that's cr*p, That's cr*p, that's cr*p.... sort them and you have yourself a nice little house Madame Cheese"
Indulge me: yes I know it's not as straight cut as this:
houses have dropped 5% - aaaaaagggh, arrrrggghh
er, yeah they actually rose a little in some areas or lost a teeny fraction of a percent in some too.
aaarrrrrrrrgggh no 100% mortgages aaarrgggh
er, yeah, still some 95% ones if you want to stop spending and save up a bit.
Imagine if they didn't provide any figures every three minutes. Imagine if they left it a month without releasing yet more figures of how much every brick is losing, how fast. For every bit of doom, there's a bit saying we predict a bit of a dip if you look for it. Panicky TV news watchers (Mr. Hc for instance) aren't doing.
If we're using their figures, what do surveyors use to value the houses just out of interest? I'm not being sarky, I really don't know
Why are we so obsessed with prices and profits?When did we stop thinking of houses as homes and profit making vehicles?I have always looked at a house as a home, would I be happy to live there?We need to get back to tht idea, after all if our houses increase so does everybody elses , its all relative.So HC are you unhappy in your home or do you just feel like a change?If you're not desperate, I'd redecorate and enjoy your home for a bit longer.A friend of mine commentedwhen I painted my kitchen Tuscany orange, "I don't think it will suit a buyer"Good because I love my kitchen and I painted it for me!
I need to be obsessed with the profits unfortunately. I am unhappy in the area that my home is in, not necess. my home, after some family events and where I seriously want to move to where we came from, property is more expensive which is why we didn't buy there originally. As it is we may have to compromise by moving half way still higher prices which is a) why we want to grab the chance to buy a former shop and make do in the flat for a long term excellently sized and placed house and b) why i need as much from this house to make this possible.
When the boom was in full steam a few years ago barn conversions that were complete weren't selling for a lot more than four walls and half a roof on a patch of land, certainly less than it would cost you to buy the plot and do the work yourself.
There's some psychology involved. If a buyer thinks they're getting a bargain - i.e. slightly tatty house - they're happier. When I flick through agent's particulars I avoid fur coat no knickers houses like the plague because the vendor invariably wants to charge me for her 'impeccable' taste and the fact you can eat your tea off the toilet carpet, factors I'd like to make my own mind up about and not be charged for.
oh, and it needs to be now if we're going, because little cheese starts school this time.
Basically we don't neeeed to move. And if we can't sell and can't move, fair enough, it's not the end of the world.
But the defining reason is there's something utterly sobering about the kid's 50yr old uncle just dying one morning completely out of the blue. It made me deeply regret my decision to move us all here, as in a way I don't even miss this dead brother-in-law yet because we saw him so rarely after we moved. How awful is that?!
after all if our houses increase so does everybody elses , its all relative.
sorry I meant to reply to this too;
exactly, everyone else has raised their prices hence why I need a valuation that factors in my rise too! And a nod to my gutters and my pretty garden and my stone white walls would be lovely too.
I've just had my first ever valuation experience which had left me feeling totally deflated. 
and he never even mentioned my front garden with my anchor that is my pride and joy. Or my block-paving or my nice gates with balls on.
) and we renewed all floor coverings. We put in a range cooker and re-did kitchen. 
NOT 
and I did and he poo-pooed the lot of it calling me critical. No, just trying to maximise my chance of a good sale - isn't that what they tell you to do?
