Housing market slump

Must be the slow holiday season only two viewings so far from thanksgiving day.  Reduced my house 10k USD today   Even if I end up 10k ahead I'll be happy. 

we have had 3 viewings all together in 3 months, I think it's time to say that the market has died.

We are considering renting the house from Jan to June to see if anything improves.

we have had 3 viewings all together in 3 months, I think it's time to say that the market has died.

We are considering renting the house from Jan to June to see if anything improves.

I think that's a good option.  If you get a good property management company it shouldn't be much of a hassle and make sure you get insurance so you can handle unexpected problems with plumbing, appliances, etc.

Just got another viewing.  It's weird how every time I lower the price there is a viewing right after even though the listing hasn't been updated yet...

Taking it off the market now means you will have to pay for a Home Information Pack - they are mandatory for every single property from today, but if your property was already on the market (and is continuously marketed), you will be grandfathered in and not have to pay for one.  You can continue to have your house on the market while letting it, so long as the tenants are aware that the house IS up for sale.

I have a feeling pianohouse (my illustrious estate agent fiance) is going to be miffed when he discovers I beat him to the punch on this post .

We have had our house on the market for 2 months now, with not a single viewing! It's on rightmove for those that want to see it:
http://www.rightmove.co.uk/action/publicsite.PropertySearch

We just lowered the price (we knew the estate agent had overpriced it!) so I am hoping that we have more interest, but last night the news was just saying how the market is slumping and getting worse like it was 15yrs ago.

I am doing my best to support DH with the move stateside, but if we have this house longer than a few months from moving (we would move in January), then it's going to really hurt our finances (at the moment, the US to UK exchange is only beneficial living in the UK). We don't have enough equity to sell it on to homebuyer lower than market value. We will only break even probably as it is 

anyone else affected by the housing market at the moment? I just hope it picks up in 2008.

Any luck yet???

No, we're moving out on Dec 29th, so the house will be empty, don't know if that's a good thing or bad thing, but we have our neighbors and others helping us out with keeping it tidy and safe. We'll be living in America and renting until this place sells, so I hope it's before summer!

No, we're moving out on Dec 29th, so the house will be empty, don't know if that's a good thing or bad thing, but we have our neighbors and others helping us out with keeping it tidy and safe. We'll be living in America and renting until this place sells, so I hope it's before summer!

Statistics say that a nicely furnished house sells slightly faster.  So not a big deal.  Mine is still sitting here in the states unsold.  I'm going to move and leave it on the market.  At least I have a tenant to pay my mortgage.  Hope yours sells!

you have a tenant while it's on the market to sell? How does that work? They have to move within a couple of months? Are they okay with showings while they are living there?

you have a tenant while it's on the market to sell? How does that work? They have to move within a couple of months? Are they okay with showings while they are living there?

I guess they are looking for a new place to rent?

you have a tenant while it's on the market to sell? How does that work? They have to move within a couple of months? Are they okay with showings while they are living there?

Well her lease ends feb 15, so she'll go month to month after.  You can have it on the market and have tenants at he same time, it will work best for month to month folks.  Anyways she agreed to keep the house spotless which it is from me visiting a few times.  She appears to be a neat freak anyway.  The house is usually shown during ork hours so she's not home.  So if you are strapped for cash I would find month to month renters who will agree to showing your house.  It shouldn't be all that hard to find..

I'm not in Leeds and can't afford a house anyway, but I just wanted to say your place is beautiful! Surely someone will fall in love with it soon!

BTW, does anyone know if a housing market slump is good or bad news for renters? Our landlord is trying to really jack up our rent, and we're not going for it. With the bad housing market, are they more likely to want to keep tenants in at the current rent, or feel they're likely to find someone willing to pay more?

it's bad for all b/c it can bring a recession on, but overall, renters I think are better off, but that's just my opinion. Your landlord will probably be able to get others to pay more, but it depends where you live, property is all about location!

I'm not in Leeds and can't afford a house anyway, but I just wanted to say your place is beautiful! Surely someone will fall in love with it soon!

BTW, does anyone know if a housing market slump is good or bad news for renters? Our landlord is trying to really jack up our rent, and we're not going for it. With the bad housing market, are they more likely to want to keep tenants in at the current rent, or feel they're likely to find someone willing to pay more?

With everyone not wanting to buy they of course will have to rent.  Rental rates will go up for sure if it hasn't already.  It's just a matter of the tenant wanting to pay the new rate or not.  Current renters shouldn't worry too much.  Those new to the rental market should be worried a tad.

With everyone not wanting to buy they of course will have to rent.  Rental rates will go up for sure if it hasn't already.  It's just a matter of the tenant wanting to pay the new rate or not.  Current renters shouldn't worry too much.  Those new to the rental market should be worried a tad.

On the flip side, with houses not selling there should be an uptick in inventory as well. Prob a wash in both directions.