when is the best time put your home on the market

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when is the best time put your home on the market

Posted by popcorn 893 days ago (Editorial)

I've been looking to sell my house after living in it for 3 years and have a 125% mortgage on it. When would be the best time to sell to stay out of negative equity?

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Written by moondog
842 days ago

according to nationwide house price data, house prices have been dropping for 6 consecutive quarters, here is the data http://www.nationwide.co.uk/hpi/historical.htm along with the percentage drop for UK housing prices.

For example a house worth £183,000 in the second quarter of 2008 is now worth £160,000 in the 3rd quarter of 2009 losing £23,000 in value.

On the positive side, over the last year house prices have seen double digit falls in percentage terms, The current quarter (q3 2009) has only seen a 3.9% fall to denote the worst of the recession is over.

The best advice is to watch this data over the coming quarters.

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Written by sweesle
892 days ago

Hi i am in a similar situation i bought my house 3 years ago and so still have a lot to pay off the mortgage. Even though i have done a lot to the house i have been advised that until the house prices increase i would be likely to loose money. Its only because of the current market. I would wait until the price of houses increases again so you can expect to sell it for the amount of your mortgage at least. why not try searching for houses for sale in your area to get a ruff idea of how much you could put yours on the market for and take it from there. There are also many companies that offer free evaluations.

From March onwards is said to be one of the best times of year to try and sell due to the length of time it takes to sell people are said to like moving into a new home in the new year.

Hope this helps

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