Re: Re: Random Price Moves — UP and DOWN

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Anonymous
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@jp1 wrote:

@jonas wrote:
@jp1 wrote:
Also as I have absolutely no intention of selling it less than 200k (unless the pound falls even further)

As I am now also looking to sell my property, I would be keen to know what other sellers are doing right now.
What are your long term intentions? What I mean is, if you have no intentions of dropping below that figure, what happens if the value drops even more? Will you just hang in there and wait for the market to pick up? If so, how long would you wait?
Do you think it will ever pick up???
I ask as I am not sure if trying to sell now is a good idea or is hanging in there a better idea, if you don’t really need to sell but just want to?
Would be great to hear what other sellers intentions are at the moment, cheers

This property is my holiday home. I did (foolishly) buy an investment property in 2004 based on the rapid development of the resort. I sold it (at any cost) in Feb 2009 as I knew what was coming. My wife is Spanish, her parents live nearby, her brother has an apartment in the same complex, there are many reasons for me to keep my apartment.

There are also many reasons why I want to sell. To move up the UK market without taking on a mortgage being the main one.

But I am not going to dispose of my holiday home near the bottom of the recession at any price. It has value to me and my wife and if it won’t sell for a reasonable price then I won’t sell it.

My situation is probably very different from other UK buyers that don’t have a strong link with their resort. I also have a very small mortgage on the apartment, so there is no financial pressure to sell.

I placed the advert to test the water and I’d say I need to fish in a different pond!!

Thanks for the info. So, I know its a long shot, but do you think you will ever be able to sell it for the 200.000 your are looking for? Or do you think the market in spain will bottom out and stay like that.
Not having ever lived through a recession (well, I lived through the one in the 90’s but never had properties back then so it didn’t affect me!), this is all new to me and am just wondering if once the levels reach the bottom, does it take years for them to rise again, or will they ever rise again as this is a different scenario what is happening now? Just like to hear other sellers thoughts to help me make my mind up as to whether to sell or sit on it as my situation is quite similar to yours. Thanks