To those selling in these difficult times

geordiescouse

hookbeak wrote: »

Ours has been on the market just 3 weeks, but no viewers as yet - it's competitively priced, in fact the same price as a near identical property round the corner which is nowhere near as nice as ours.

I wasn't expecting miracles, but i thought we might at least get a viewing. Even just a nosey person would do !

This was out fourth weekend up for sale and not a sniff of a viewing...we're not overpriced at least we're in line with the current market around here.

Feel gutted! But fingers crossed that 'the one' will cross the threshold shortly

QTPie

garfylee wrote: »

I was looking at these websites where companies buy your house if you need a fast sale, but they all seem a bit too good to be true. Does anyone know anything about them?

They do exist, but expect an offer of about 20 to 25% below what your house is worth... Generally only for those COMPLETELY desperate to sell...

Don't give up hope! Your house has only been on the market two weeks! . AND out of that you had a realistic offer (although later withdrawn): that sounds very promising! Fingers crossed you will get more viewings and another good offer soon

QT

pawpurrs

Garflyee, that all sounds very positive, you never know, hopefully your journey wont be as long as mine! Welcome to the thread, and all the other newbies too! What sort of level was your offer?
Someone here just went u/o to their first viewer! I went u/o to my second viewer, but obviously that didnt go through! The EA is totally baffled as to why it hasnt sold! And to be honest I am too! But there is no rhyme nor reason in house selling. Some houses you think are way overpriced and are flabergasted when they sell in two minutes! Ah well!

QTPie

geordiescouse wrote: »

This was out fourth weekend up for sale and not a sniff of a viewing...we're not overpriced at least we're in line with the current market around here.

Feel gutted! But fingers crossed that 'the one' will cross the threshold shortly

The question is, though, is the rest of the market around your way realistically priced?

What sort of asking price are you on at? Do you have "property bee" (http://www.property-bee.com/) installed? My suggestion is to look around your property price (if you are on at £200k, then maybe look between £150/£250k within 3 miles of your postcode). Make sure you tick to display "SSTC". Property Bee will tell you how long properties have been on the market, any price drops, any offers accepted and fallen through... Which properties above and below yours (in price) are very similar in attractivenss to yours? Have any gone SSTC? Have any been on the market for ages?

Three obvious things come to mind:
- you may be priced according to your local market, but your entire local market maybe overpriced: so you may need to "undercut" the local market to achieve a sale any time soon. If people don't see a property that is reasonably priced, they wont just buy one anyway (at the moment), most are putting off buying altogether (i.e. staying in rented).
- there may be other things putting the buyers off BEFORE the viewing stage. Ask your EA for some frank feedback here: say that you are disappointed not to have had ANY viewings so far, does he have any idea why? Are the particulars not very attractive? Are the photos not doing the place justice? Is there anything undesirable about the property (right on a main road?)? Your EA should have some clue...
- sometimes it just takes time (especially if your property happens to be "niche" in it's appeal...). At the moment we panic if a property hasn't sold in about a month of going on the market (it must be because we are over-priced in this falling market!), but properties CAN and DO take some time to sell... even in a healthier market. BUT I am surprised that you have had not one single viewing in a month...

It is difficult... The property market is crazy at the moment and buyers (and sellers!) are unpredictable. The best person to give yoou an idea about your property is a local expert in property (i.e. a GOOD local estate agent). How many valuations did you have on your property before it went onto the market? Did they all tally about the same price that you actually went on the market for?

QT

Georgie4

racheyg wrote: »

Have had on market for about 8 months. Lots of viewers, and lots of nice comments, but:

Garden too big!!!!

I thought that was our biggest asset!

I get well cheesed off with people actually. Ours is a beautiful 19th century cottage. It's on the market for £360,000 but is near a road (not a very busy road, and 18 steps away from front road). If this house was round the corner it would be worth £600,000. It's a lovely house. When I bought it there were 4 couples fighting over it. Now no-one wants it

We're only selling because we need to get the equity out as we have debts. We can keep chipping away at the debts and stay, but it will take ages.

What to do, what to do, what to do.

What can I do with a 360 ft garden anyway?

I have had a house up for sale for the same amount of time - one I have inherited - but its on a HUGE plot and I think this is putting people off a bit as there is plenty of room to build as well. Have had 6 viewings but no offers yet. Luckily I don't really need to sell it ,have a fab estate agent who says that we do not need to reduce the price we just need to sit it out for a bit which is exactly what I intend to do:cool:

Palm_Centro

Thats good news! How many viewings?

JayneG

Georgie4 wrote: »

,have a fab estate agent who says that we do not need to reduce the price we just need to sit it out for a bit which is exactly what I intend to do:cool:

You are right, your estate agent is FAB! If you don't want to sell it that is excellent advice:rotfl:

Georgie4

JayneG wrote: »

You are right, your estate agent is FAB! If you don't want to sell it that is excellent advice:rotfl:

You have to be realistic some times - the house is very large , is up for a lot of money and until the housing market starts to move at the lower end then it simply won't flow through. Personally I'd prefer someone to say to leave the price as it is than the normal estate agent trick of valuing your house and then telling you 2 weeks later you should drop the price once you've signed their contract. I stick to my opinion that he is actually a professional:p and as it is a second house I really am in no rush - more important to me to get the right price;)

Davesnave

Georgie4 wrote: »

You have to be realistic some times - the house is very large , is up for a lot of money and until the housing market starts to move at the lower end then it simply won't flow through. Personally I'd prefer someone to say to leave the price as it is than the normal estate agent trick of valuing your house and then telling you 2 weeks later you should drop the price once you've signed their contract. I stick to my opinion that he is actually a professional:p and as it is a second house I really am in no rush - more important to me to get the right price;)

Have you considered that there may be people out there with enough cash and no chain? I'm looking in Wales and I'm aware of many properties around £400-500k that have been 'marketed' continuously for 2 years or more at the same price. Their owners clearly believe that we shall soon return, economically speaking, to the year 2007, even though all the indicators show we are a million miles from there.

Now I know that average time on the market is far longer in Wales, but it seems we are playing very a strange & tedious waiting game. I sold recently at a 2005 price, so do you think it is likely I shall pay the premium these sellers are asking? With my 'house money' still earning 6%+ in fixed rate accounts, I'm hardly being forced to act.

Please don't take this personally; it is simply an observation by someone familiar with the market, who's rather fed-up due to the lack of decent, fairly-priced properties.This isn't any kind of personal comment about you, or your house, which I have no knowledge of. However, I think you could usefully view things from my side & consider whether it is likely that someone like me is, effectively, being shut out.

Whatever you think, I hope you have an offer soon.

geordiescouse

QTPie wrote: »

The question is, though, is the rest of the market around your way realistically priced?

It is difficult... The property market is crazy at the moment and buyers (and sellers!) are unpredictable. The best person to give yoou an idea about your property is a local expert in property (i.e. a GOOD local estate agent). How many valuations did you have on your property before it went onto the market? Did they all tally about the same price that you actually went on the market for?

QT

Thanks, we had 5 EA around as we originally had planned to go with a part exchange on a new build. 4 EA said don't be disappointed if your p/ex falls through as you will sell this property. We are inline with the local market but are cheaper than simillar smaller, less well presented properties on the same estate. I don't particulary want to cut the price now as I know that I won't get the asking price and wouldn't be in a position to negotiate a deal if the price was cut too much.

I will get onto property bee to follow up the history of those house around though.

And in saner moments I do think it has only been 4 weeks in a difficlut market