How long before people have reduced prices?

Mr_P_5

Hi,

Just a quick opinion pole really...

We have our house up for sale and has been for 4 weeks. Had 3 viewings, 1 loved ours but went for a 3 bedroom (ours is 2), 2nd couple have gone for another house in different location but loved house, 3rd were waiting on feedback! (although EA struggling to get hold of them so not positive).

anyway how long have people waited before reducing the price? - with prices going down still do shall i reduce mine in the next couple of weeks or is that still a little early?

Thanks

princessamy86

Hi Mr_P
Well, in my opinion you are probably priced quite well to get 3 viewings in 4 weeks. Has any of the feedback mentioned the price? Just ask your agent if they ever get an opinion on the price when they ask for feedback, I've found it's really helpful to get people to give me their opinions on this-even if they don't like it. I would give it 6-8 weeks before you consider reducing, if you were otm at an unrealistic price people just wouldn't view-which hasn't been the case so far for you.
Hope that helps! Good luck.

Mr_P_5

Thanks,

Yeah i think we have done OK to... we don't want to be stuck on the market for ever and a day, (looking to move up the ladder) and understand prices are still coming down and therefore don't want to become badly priced!

will ask EA what people have said about feedback to!

chickmug

The reply from princessamy86 is eaxctly how I feel about your position.

I would urge you proceed very carefully and not get too carried away by those that will shout drop now and drop by at least xx%. In some areas the market is better than others so you need to work with your agent to maximise the price you will get a sale at.

poppy10_2

Try posting a Rightmove link - we can give you helpful advice on how your property is being marketed :A

Mr_P_5

Thanks for the help again. Link below, comments appreciated. I think we will see how things go, we have seen the house we want and thats the reason we are selling... if we can't sell this or the other one goes we will prob stay put - so not selling for the sake of selling. its a good area etc and good value for us.

pbfhpunk

I'd ask the agent to take another picture of the garden now, with no snow so people can see it more, it also gives people and indication of how long it's been on the market.

H

penguine

pbfhpunk wrote: »

I'd ask the agent to take another picture of the garden now, with no snow so people can see it more, it also gives people and indication of how long it's been on the market.

H

I'd get them to take another picture of the lounge and dining room too, the sunlight on the wall in the lounge is a bit distracting and the glare from the snow means you can't see out the window in the dining room picture.

Lovely house though, best of luck with your sale.

ilovecheese

I agree, redo the picture of the living area and the garden, also ask you agents to do a floorplan, it is much easier to get an idea of how the house "works/flows" when you can see a floor plan

Good luck!

nikki_angel

Just checking in to see the answers to your question but couldn't not comment on what a beautiful house you have!

AdrianW2

I'm not sure how much use this is to you, but this is my impression based on 6 months house hunting (in Bucks).

There appear to be three types of houses - good cheap (2000 prices) ones that go quickly (a couple of weeks or on the first viewing), good expensive (2008 prices) ones that haven't sold in nearly a year, and cheap bad (i.e. under power lines, needing restoration, nightmare neighbours) ones that go slowly (take 3 months or so).

There are also a lot of people looking who subsequently can't get mortgages. Three of the ones we saw came back on the market when the buyer couldn't get a mortgage.

A floor plan helps massively to visualise the layout, but it isn't essential. Similarly with photos. The house we're buying had no floor plan, a lacklustre EA and only 1 or 2 poor photos on the details.