Sellers ''can still get good prices''


Wed 23rd Jan, 17:01:54 GMT

Putting a house on the market at slightly below the price expected can be a good move for sellers, it has been suggested.

Analysts predict that 2008 will see house prices stay flat across most of the country, with the ongoing impact of the global credit crunch continuing to pose challenges for buyers trying to take out mortgages.

Combined with fears of a recession sparked by the US sub-prime mortgage crisis and yesterday''s stock market turbulence, some sellers may be left feeling worried about their chances of securing a fair price for their property.

However, Peter Young, of estate agency John D Wood, told the Times that it is still possible for people to make a good deal even in the most cautious of markets.

"You should ask for 95 per cent of the perceived price of the property, so that it appears to be good value. Then you can let the market decide on the price," he suggested.

Katherine Lockwood, manager and valuer at Sandersons estate agency, told the Northern Echo that sellers can balance any reduction they make when it comes to buying a new home.

"If you have to reduce the price of your house, you just make sure you pay a reduced price on the one you''re buying," she advised.ADNFCR-1143-ID-18438803-ADNFCR


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