Hua Hin Have You Sold Your House

[ladybiker]

Hello,

I was after some info from anyone that has in the last year tried to sell their home in Hua Hin, a re-sale not a new house.

1] Did you use an Estate Agent if so where they successful

2] how long did it take them to sell your house.

3] Did it sells for the asking price if not what percentage reduction did you accept

Recommendations are probably not allowed on the forum but if anyone feels they want to offer one please pm me.

Thanks in advance

Ladybiker

[TenDreams]

Hi ladybiker,

I don't think many resale properties sell for the asking price unless they're priced to sell and the price realistic, most might get asking price less up to 10%. There is stiff competition from well priced high quality new homes in Hua Hin.

Agents in Hua Hin are all non-exclusive so you can list with as many as you want in theory.

I'll PM you my recommendation.

Good luck!

[Hobiecat]

The second had resale market for homes in HH is very slow if not slow all most non existent. I had my home which was very affordable, in mint condition and properly priced on the market with almost every agent in town for four years. Only one of the agents I used brought customers around. Most of them were useless. I had a well used and popular agent in town explain to me only 5-10% of the second hand homes on the market move every year. We did finally get one serious offer but it was from a lady from BKK whom just tried to low ball us and she saw the house from just driving by. We have since decided to keep it for a holiday home instead of it being our permanent residence as it was for four years. Frankly if you buy a home in HH.....consider it yours. Houses don't resell well here like Phuket.

Edited January 29, 2013 by Hobiecat

[UKJASE]

....... every agent in town for four years. Only one of the agents I used brought customers around. Most of them were useless. I had a well used and popular agent in town explain to me only 5-10% of the second hand homes on the market move every year. We did finally get one serious offer but it was from a lady from BKK whom just tried to low ball us................

Gee that sounds tough Hobiecat!!

i read the locals are not keen on second hand houses, but four years is a long time!!!! is your in a farang area, or a thai area??

we are the third owners of our 8 year old house, so from what you are saying it may be very difficult to sell when the time comes. have you heard your story repeated across much of hua hin, may i ask??

have other people found this problem too??

[PattayaPhom]

If your close to town it will appeal to both Thai and foreigners. Out toward the mountains or Pranburi forget it. Price is also relevant, The properties not saleable are the standard 3 bed pool villas at 5 mil and above any owner of these must be realistic there just isn't a market for them so its land value only,

Edited January 30, 2013 by PattayaPhom

[UKJASE]

If your close to town it will appeal to both Thai and foreigners. Out toward the mountains or Pranburi forget it. Price is also relevant, The properties not saleable are the standard 3 bed pool villas at 5 mil and above any owner of these must be realistic there just isn't a market for them so its land value only,

do you think the houses within soi's 2 - 110 or so, and within a couple of km of the railway tracks will retain their value, if they are of decent build and within a nice neighbourhood etc??

do you think the values will even increase in the medium term, as thailand becomes more prosperous??

[PattayaPhom]

The condo market is being fuelled by Russians, ASEAN members and Thais wanting a bolthole from BKK flooding or a holday home......There just isnt the buyers for villas from European countries or US anymore, thats a fact...low XE, recession, they just havnt got the money anymore. Unless its exceptionally special, exceptionally cheap or in town theres no chance of selling, East Pattaya is the same and no doubt so are parts of Phuket and Samui

[rgs2001uk]

The condo market is being fuelled by Russians, ASEAN members and Thais wanting a bolthole from BKK flooding or a holday home......There just isnt the buyers for villas from European countries or US anymore, thats a fact...low XE, recession, they just havnt got the money anymore. Unless its exceptionally special, exceptionally cheap or in town theres no chance of selling, East Pattaya is the same and no doubt so are parts of Phuket and Samui

10 years ago the mrs and I looked at a 3 bedroom rabbit hutch in HH, the cost at the time would have been about 30k sterling, I thought the build quality, construction and fittings were crap, the mrs didnt like the location, we chose not to buy.

A couple of years ago we were in HH, a similair house on the same development was advertised for 150k sterling.

As for Pattaya take a look at some of the dross on soi Khao Noi (spelling).

I was in a friends house in December, the ceiling had a large damp patch which he couldnt understand, I went into the loft, there was no solar foil fitted and no stay cool insulation, there was nothing between the tiles and the ceiling, looses tiles were the problem.

Same house, plumbing was crap, go to the toilet and have a dump, better have a bucket of water handy to flush the toilet.

Electrics, even worse, the main breaker box had 5 breakers fitted for a 3 bedroom 2 bathroom house.

If my friend turned on a kettle the washing machine would switch off, in the bathroom turn on the shower and the a/c in the bedrrom would go off.

[hhfarang]

Just like anywhere, it's location, location, location. We have a huge home and a huge immaculate park-like garden. Most estate agents who have looked at it have valued it at 20m+ but admitted that they could not sell it easily in this market at that price because homes in that range only sell if they are on a golf course, on or very near the beach, or in a good downtown location. We are about a mile from the beach and between 5 and 10 minutes drive (depending on traffic) from the main traffic light downtown.

A friend sold his nine year old home a few months ago for 28m baht, but it was located in town within walking distance of Market Village Mall. Unimproved land alone in that area is going for between 10 and 20m per rai depending on the exact location. Just off soi 94 smaller Thai builds that are eight or nine years old have sold for 7 to 8m. We rented one of those back in 2004 and could have bought it then from our landlord for 1m.

And yes, another factor for Thai buyers is resale vs new. If there are new homes in the area that are of comparable quality and anywhere near the same price, they will go for the new one.

Otherwise, it's location, location, location.

[rgs2001uk]

^^^^^^^

while your post has an element of truth, I dont agree with it all.

Whats killed HH is greed greed and greed, the fly by night here today gone tomorrow speculators, its the mugs who bought the property who are now left to ponder over their choice to buy.

You mention house for 1 million baht, I mentioned before prices from 10 years ago, 1.5 million for a house and 500k for 100tw of land,total price 2 million, same house now being advertised for 7.5 million, please give me a break.

If you bought your house 10 years ago, how much did it cost in baht or $ terms, I dare say you could reduce your price to say 12 million and still be in profit.

As usual how quickly do you need to sell, otherwise you are most likely to be in the position of still trying to sell in another 5 years.

Whats so special about HH, I can buy land cheaper within an hours drive,have a custom built house in a better location and still have change leftover.

[hhfarang]

^ I didn't buy it, I built it, and it doesn't matter how much that cost or how much profit there is to make. What matters, just like in Florida (or anywhere else) where I had a real estate license, is the "comps", or comparative sales. If a house in the neighborhood sold recently that is built to the same standard as mine but one third smaller in sq meters both in home and land then theoretically my home is worth one third more than that house. That's what I was taught in licensing school. Of course you can't go by one sale so you try to average as many as possible and use a plus or minus factor to lower or raise the price of the property in question, i.e. if a comparable property with a pool sold for a certain amount then another in the same neighborhood should sell (theoretically) for the same price minus the cost of a comparable pool. This is not guesswork. I sat in classes and took a test to learn how to value a property.

And that custom house you build an hour's drive outside Hua Hin better be the one you want to live in for the rest of your life because as I said, from four kilometers to one kilometer from the center of town can double the value of the house. Most people want to be in close proximity to supermarkets, restaurants, and entertainment. Nobody is going to want to ever buy your mansion out in the boonies, in my humble opinion.

And, fyi, a customer interested in possibly purchasing our property went to Kasikorn bank to see how much of a loan they could get. Today, the bank's appraiser came out and appraised our property at approximately 25m baht and said they would have no problem loaning 20m against the chanote if the borrower was otherwise qualified. That should be a reasonable appraisal. Banks do not lose money and they do not wish to own houses that are not worth at least 20% more than they are willing to lend.... and we are asking 30% less than the bank's appraisal so I think it's a very reasonable asking price. And no, I am not in a hurry to sell and won't take any less than that as it's already a bargain.

[wonder6281]

Interesting reading! I currently live in East Pattaya and have a young son who I really do not want growing up here. Going to HH in May for a few days to have a look around. I am retired (50) and decide if we move there then that is where I will make my home. But until we visit, i have no idea whether HH is the place for us. My wife is Thai, I'm Aussie, so any decision like that will depend on her really because HH has everything I need - Beach, Golf , Bars and restaurants.

[hhmnp]

Totally agree with hobiecat. We used to have a house in Huahin nect to Toyota showroom purchased at 2008 as investment and we were trying to sell it on 2009 through agent. We got the prise we want after agency's commission but it took us 3years at the end..

[hhmnp]

Next to Toyota Showroom and price we want i mean...