Seller's - Get Realistic With Your Price

Mark Green, from imove Cornwall has called for seller's to get realistic with their properties marketing price.

"It's blatantly obvious to most people that property prices have declined in recent years, however many seller's still aren't adjusting their properties marketing price accordingly, with many seller's still adamant they can achieve values seen in late 2008"

According to September 2010 report from the The Nationwide prices were up around 5% compared to the same period in 2009, however since then prices have been in decline. 

Interactive Property Price Graph
http://www.guardian.co.uk/money/interactive/2008/apr/15/houseprices

"But the bigger problem is the lack of buyers, the over-supply of properties and lack of mortgage finance available" says Mark Green.  "The problem Vendors face is if they haven't obtained a sale within the first three months of marketing, their agent looses interest and you get pushed to the back of the pile.  It's not the way it should work, but being honest, it is a fact.  Of course it doesn't mean you won't sell after that period, but many sellers heavily rely on their estate agent to sell their property and if the agent looses interest - you could be in trouble"

Don't Just Rely On What An Estate Agent Says
There are many agents who will over-value your property simply to gain a signed contract with you for say six months.  The agent knows your property won't sell at their valuation, but now they have you in a contract they can begin working on you to reduce the price to what it should be.  It's a very well known tactic that many agents use.

"Seller's should not choose an agent simply on the basis of their valuation.  You should do your own research to be sure what your property is worth.  And with so much freely available information on the Internet, researching your own value is actually pretty easy"

Head over to www.zoopla.co,uk or www.rightmove.co.uk and click on 'House Prices'.  Both sites offer you statistical information on house prices.  From here seller's should be able to work out their properties value.

www.imovecornwall.org