House Selling

chocolat_2

I have been trying to sell my house since March with no luck - have dropped the price, changed the estate agent etc. Was just about to drop the price again when someone told me not to bother until next year as nothing would sell from now over Xmas and the New Year - are they right??

Daddy_Bear_2

chocolat wrote:

I have been trying to sell my house since March with no luck - have dropped the price, changed the estate agent etc. Was just about to drop the price again when someone told me not to bother until next year as nothing would sell from now over Xmas and the New Year - are they right??

Probably, this is the quietest time of the year for the property market. It generally picks up in the spring. Having said that there are always transactions taking place throughout the year and if your house is priced realistically then it should always attract a buyer whatever the state of the market.

FMC_2

Mine sold in 3 days of going on the market ,so there are still people looking for house.But mine was in the first time buyer market so maybe I'm just lucky.

Charlton_Taz

It is probably true that at this time of the year the housing market quietens down....most people don't want the complications of moving over christmas...but last year I put my house on the market at around this time. Eventually accepted an offer on it on 28 December last year, and had an offer accepted on a house I wanted on the same day...So it can be done!!

meanmachine_2

chocolat wrote:

I have been trying to sell my house since March with no luck - have dropped the price, changed the estate agent etc. Was just about to drop the price again when someone told me not to bother until next year as nothing would sell from now over Xmas and the New Year - are they right??

I'd regard your property as having "gone stale".

Either that or there is something that is putting buyers off. Maybe it's not in the best location. In a buyers' market, buyers can afford to be v choosy.

Best take it off and try again in the Spring. The market might have improved, or worsened by then, but that's the risk you take.

cattie

A few years back I put a house up for sale late October with very little interest. I became very dispirited & towards the end of January started to think of changing estate agents. However, come February I had a rush of viewings & on Valentines day had 2 decent offers from viewers from that day, one of which I accepted. I'd never put my house up for sale in Winter or Autumn again & have always decided to sell in the spring since, resulting in quick sales.

kiwichick

chocolat wrote:

I have been trying to sell my house since March with no luck - have dropped the price, changed the estate agent etc. Was just about to drop the price again when someone told me not to bother until next year as nothing would sell from now over Xmas and the New Year - are they right??

Me too, since Feb we have been on.One sale fell through the day I got the contract to sign :mad:

Good luck to both of us aye!

mbamick

I've just had my offer on a new house accepted, and am negotiating with 3 estate agents over valuation & cost of marketing my existing home.

I must admit that this email string has deflated me slightly; albeit, better to err on the side of prudence I s'pose.

lush_walrus

chocolat wrote:

I have been trying to sell my house since March with no luck - have dropped the price, changed the estate agent etc. Was just about to drop the price again when someone told me not to bother until next year as nothing would sell from now over Xmas and the New Year - are they right??

Your friend is totally right, unless you are desperate to sell now, take it off and wait until the new year. The general pattern is that there is a last minute influx of buyers who buy in early October to make sure that they get into their new property before christmas, after that the market goes dead as people dont want to risk selling their property and having to move into a new property dead on Christmas or in January when everyone has already spent their money and efforts on christmas.

It is possible to sell at any time of year, and there is always the arguement that at this time of year any buyers around are serious ones rather than people just having a gentle look and as a lot of vendors choose to take their property off the market the supply is less. Most EAs close for their version of summer holidays close to Christmas too, mine all close for 3 weeks, but 2 weeks is the minimum most will be closed for.

But as your property has been on the market for so long, I would definately recommend taking it off of the market and putting it back in the market when the EAs re-open in the new year. By then there will be a fresh lot of buyers around who your house will appear new on the market to.

lush_walrus

mbamick wrote:

I've just had my offer on a new house accepted, and am negotiating with 3 estate agents over valuation & cost of marketing my existing home.

I must admit that this email string has deflated me slightly; albeit, better to err on the side of prudence I s'pose.

To be honest and not meaning to scare you but you say that you have had your offer accepted but havent sold, which in itself for most EAs/venders means that the property will continue to be marketed, as without a buyer on your property you arent in a position to be able to buy (unless you can afford the property without the sale of your house being linked in. Generally if someone comes along and offers on the property you have offered on and is without a chain, cash buyer or FTB then the vendors will choose to sell to them. Simple reason is that your property may never sell.

But on your side (with relation to someone else offering on the property you want) and against (in relation to selling yours) is that at this time of year the amount of buyers around drops significantly.

The best you can do is get your property on the market ASAP, try to time it in time for the next round of local papers going out so that yours can be advertised (definately by Wed I would say so that the EAs can call around their mailing list and get people to view this coming weekend), price it as competitively as you can afford and probably get it on the market mutli agent. Multi agent fees generally cost more than sole, but if you really want the house you have offered on you need to pull out all of the stops.

Happy_saver_4

There is a bit of interest always immediately after Jan 1st. Families and couples have spent time together (unusual nowadays) over the Christmas to New year period. They chat about things and some seem to decide it's a good time to make a move in their life.

Over Christmas other couples have got engaged and decided they ought to look at making a nest etc.

I always found January a quite busy selling period, then a lull to Easter etc. But, a good EA will always be selling. I've actually negotiated property sales on Xmas eve.