not many viewings

Ian_Griffiths_Halifax

A sensible reply. Everybody has become a property expert within the last 3 years, even if they have never owned a property:rotfl:.

They base the whole of the future of property on the last 12 months and suddenly they are not just property experts but economists. Then it's back to their day job sat behind their desk in the R&D dept at Wilkinsons.

bride_on_a_budget

Mutton_Geoff wrote: »

bride on a budget - don't read too much into the replies here. I find these posts some of the most amusing on the MSE forum. Someone posts a link to their property and the armchair advisors crawl all over it .. "declutter", "wrong colour", "potted plants", "move the bed" etc etc. The well intended advice is coming from people who have watched too much property !!!!!! on TV and it wouldn't surprise me if some didn't even own their own home or had even bought or sold one.

There is only one reason a place won't sell and that is price. Everything has a value and just because it's tough now, no amount of "photos on a sunny" day are going to get you a buyer unless the price is right (those techniques might get one or two more window shoppers). If you're thinking stamp duty incentives, just knock it off the price, if you really need to sell, be aggressive with the price. Unfortunately as the stats tell us, there are far too few people getting loans and buying at the moment, so the only way you will sell is being cheaper than the competition. No amount of coffee or fresh bread aroma will change that.

I sold a flat earlier this year. Five agents valued the place at or just below £250,000. It sold 6 months later for £201,500. I am about to bring another house to market. In the good times, it would have got £170k+. I plan to market it at £129k or even less to make it the cheapest house in the road by at least £25k. The £125k residual in my bank will earn me over £8k a year whilst empty I earn nothing.

Location was always important. Now it's price, price, price.

Hi geoff,

thankyou for your honest advice, i am glad there are people like you on the forum, i agree with your comments.
thanks again
Bride on a budget

bride_on_a_budget

brightonman123 wrote: »

clearer / brighter pics might help- also include the bathroom, & back garden?

hi,
their are 2 photos of the back garden and a photo of each of the bathrooms

bride on a budget

bride_on_a_budget

Ian_Griffiths_Halifax wrote: »

The Nationwides figures of a 25% drop are not strictly true of the whole country. Certain areas may have dropped by that, some by more (large areas or matchbox size apartments (Salford Quays/Leeds) that have gone to repossession due to Buy to Let price fudging etc. distorting the national average, but some areas are stable. Wilmslow in Cheshire for example.

Anybody using the Nationwides house value calculator on their website is deranged, it covers entire regions, Counties and even Countries! Where is North or South West for example? That covers a massive area of completely different hamlets, villages, Towns and Cities!

Thank you Ian for your honest reply,
i totaly agree with you, prices are not dropping as quickly in our area than in others,

thanks

lostinrates

Rightmove are not really that great an indication ATM either IMHO. It shows asking prices, not acheived prices, and for them to still be on Rightmove it shows whatever the vendors are asking the buyers haven't answered.

I also think its a little naive to suggest that companies like Rightmove, and Nationwide have no agenda, or less agenda that posters on this forum. Their business depends on the market's vigour after all.

I rally don' think cosmetics etc is going to make much difference, but value for money is. If, within a reaonable radius and similar 'quality' of area buyers can do better, whther its bigger rooms, square footage or detaged then te price is not right.

Good luck

RecoveringAlcoholic

Properties are selling............
.........but at the right price.

Folks are still in the Denial stage.

tomstickland

bride_on_a_budget wrote: »

Thank you Ian for your honest reply,
i totaly agree with you, prices are not dropping as quickly in our area than in others,

thanks

See my earlier post in this thread showing price drops from Rightmove and plenty of detached 4 bed properties in your area on at £190K.

Ian_Griffiths_Halifax

tomstickland wrote: »

See my earlier post in this thread showing price drops from Rightmove and plenty of detached 4 bed properties in your area on at £190K.

I'm not saying you're wrong, but 5 miles is a very big area. That's 10 miles end to end.

Also, on doing a check on Rightmove for 4 bed properties within 1/4 mile of Chaddlewood, there are 9 at £210,000 and above including the op and only 1 below, and that doesn't look very attractive.

http://www.rightmove.co.uk/action/publicsite.PropertySearch

Mozette

Mutton_Geoff wrote: »

bride on a budget - don't read too much into the replies here. I find these posts some of the most amusing on the MSE forum. Someone posts a link to their property and the armchair advisors crawl all over it .. "declutter", "wrong colour", "potted plants", "move the bed" etc etc. The well intended advice is coming from people who have watched too much property !!!!!! on TV and it wouldn't surprise me if some didn't even own their own home or had even bought or sold one.

There is only one reason a place won't sell and that is price. Everything has a value and just because it's tough now, no amount of "photos on a sunny" day are going to get you a buyer unless the price is right (those techniques might get one or two more window shoppers). If you're thinking stamp duty incentives, just knock it off the price, if you really need to sell, be aggressive with the price. Unfortunately as the stats tell us, there are far too few people getting loans and buying at the moment, so the only way you will sell is being cheaper than the competition. No amount of coffee or fresh bread aroma will change that.

I sold a flat earlier this year. Five agents valued the place at or just below £250,000. It sold 6 months later for £201,500. I am about to bring another house to market. In the good times, it would have got £170k+. I plan to market it at £129k or even less to make it the cheapest house in the road by at least £25k. The £125k residual in my bank will earn me over £8k a year whilst empty I earn nothing.

Location was always important. Now it's price, price, price.

I think the point the 'Andrew Winters' of the forum are making is that if a house looks attractive it is more likely to attract people, and therefore achieve a better price, and a quicker sale.
If potential buyers imagine that it needs a lot of work, they will expect a reduced price for not only the cost of the work, but the inconvenience of doing it.
Obviously the right price attracts people, and overpricing anything will backfire, but presumably the seller wants to get the highest price they can, and a bit of dressing can work wonders. You can fool at lot of the people a lot of the time.


Oh, and the answer to the question in your signature could be 'David'

chartreuse_2

Ian_Griffiths_Halifax wrote: »

The Nationwides figures of a 25% drop are not strictly true of the whole country. Certain areas may have dropped by that, some by more (large areas or matchbox size apartments (Salford Quays/Leeds) that have gone to repossession due to Buy to Let price fudging etc. distorting the national average, but some areas are stable. Wilmslow in Cheshire for example.

Anybody using the Nationwides house value calculator on their website is deranged, it covers entire regions, Counties and even Countries! Where is North or South West for example? That covers a massive area of completely different hamlets, villages, Towns and Cities!

I wholeheartedly agree. I only used the Nationwide calculator as a means of rebutting ad9898's misrepresentation concerning 25%, using data form the same source.