To those selling in these difficult times Part Deux. AKA sellers support network!

whitesatin

Sounds like a bit of a nightmare for you, NEH, I hope it all works out for you. As I am getting older (58 now), I just feel the need to be settled once and for all. I am travelling between Surrey and Hertfordshire to look after my grandchildren two days a week and I am fed up with it to be honest. I just want to sell, buy and get on with my life.

Good luck with your search and I hope you get settled soon.

Emy1501

whitesatin wrote: »

Hi, everyone. This is the first time I have posted on this thread, so hope I am getting it right.

Our house has been on the market for 5 months. We have twice dropped the price and, although we have had more than 30 viewings, we have had nothing for ten days. Everyone says it is a lovely house but that they don't like the road. Well, our house, in a better road, would sell for a lot more money and the road is really not that bad, it just has some council houses further down the road. The house is detached and Edwardian and for sale at £320k in Surrey. Commuting is great around here, you can be in London in 30 minutes and at the coast in not much more time than that.

Anyway, my query is, should we continue to market it at this price (the estate agents think we should get it and we think it is worth it even if nobody wants to buy it so far), or reduce the price for a third time? We will be moving to a very expensive area and want as much as we can get for it, obviously. We have not looked yet at specific houses as we don't want the pressure of buying and selling. We have the option of moving in with my daughter for a while.

Does it look desperate to reduce three times in as many months if we did go for that option (reluctantly)?

People could see you as motivated sellers if you drop at the same time as you say they may see you as desperate. Most people now a days will look at property up to 10% above their budget so no point in my opinion dropping the price unless you are happy to accept a lot less or you are moving down a bracket in the right move search etc.

Sounds to me from you have said that your agents are not attracting the right sort of buyer. The agent should be trying to attract buyers currently living in a worse area who want to move to a nicer area but can't afford the best area etc.

Have you thought about a different agent? I know someone who's property was in an area which was not great for parking but was 5mins away from a main train station with access to London in 20mins. It was on with an agent for close to 4 months with feed back of parking being a problem. Went on with another agent who advised that the other agent was targeting the wrong sort of buyer ie should have been targeting commuters highlighting the good train links etc. It sold within a week of going on with the other agent.

PottyHouse_2

not_loaded wrote: »

Like the couple on Phil and Kirstie last week who had been ‘looking’ for TEN YEARS! :eek:

I had some sympathy for them as they had bought 3 houses in that time that were either too small, wrong area or they just hadn't settled there (my predicament) UNTIL she said "those kitchen tiles must go" !!!! ........

whitesatin

Emy1501 wrote: »

People could see you as motivated sellers if you drop at the same time as you say they may see you as desperate. Most people now a days will look at property up to 10% above their budget so no point in my opinion dropping the price unless you are happy to accept a lot less or you are moving down a bracket in the right move search etc.

Sounds to me from you have said that your agents are not attracting the right sort of buyer. The agent should be trying to attract buyers currently living in a worse area who want to move to a nicer area but can't afford the best area etc.

Have you thought about a different agent? I know someone who's property was in an area which was not great for parking but was 5mins away from a main train station with access to London in 20mins. It was on with an agent for close to 4 months with feed back of parking being a problem. Went on with another agent who advised that the other agent was targeting the wrong sort of buyer ie should have been targeting commuters highlighting the good train links etc. It sold within a week of going on with the other agent.

We were with the first agent for three and a half months before extending it to the second. The second pulled out all the stops and have worked hard at getting people through, though some were not appropriate in my opinion. At this stage I don't want to change agents but might eventually.

Both agents valued the house at "to achieve" £365k and neither want me to settle for less than £320k as they feel it is worth at least that.

We do emphasise the closeness to stations into London, as do the agents.

Fingers crossed that something happens this week.

azkaban420

Welcome Whitesatin, it is a tough old selling game at the mo, we dropped three times in the end as I was so fed up, and got an offer below what we would have liked...but I'd had enough. If you feel you've dropped it enough, don't rush to do it again just yet. Unfortunately we also had plenty of viewings but no biters, it's just really how much/quickly you want to sell or not.

See how things go for a few more weeks if you can manage, then re-assess the price if you need to. Ultimately you have to decide if you can afford to drop any further/how much/quickly you want to sell, and proceed accordingly.

How is feedback from your EAs? Are they working hard to get the right buyers through the door, and what's happened with the people who've offered but still need to sell?

Az

whitesatin

azkaban420 wrote: »

Welcome Whitesatin, it is a tough old selling game at the mo, we dropped three times in the end as I was so fed up, and got an offer below what we would have liked...but I'd had enough. If you feel you've dropped it enough, don't rush to do it again just yet. Unfortunately we also had plenty of viewings but no biters, it's just really how much/quickly you want to sell or not.

See how things go for a few more weeks if you can manage, then re-assess the price if you need to. Ultimately you have to decide if you can afford to drop any further/how much/quickly you want to sell, and proceed accordingly.

How is feedback from your EAs? Are they working hard to get the right buyers through the door, and what's happened with the people who've offered but still need to sell?

Az

Glad I am not alone in this and you are right, we will leave it a little while to see what happens. Trouble is, there is little available where we want to go, most are SSTC as soon as on the market.

Feedback from our agents is the same each time, love the house, not keen on the area. But that is why it is £320k and not more.
Those who offered without selling are still trying to sell as far as I know.

azkaban420

Whitesatin, I forgot to add, I'm in Chesham and would LOVE to buy in Berkhamsted but it is just waaaayy beyond my budget. As you rightly say, houses that do come on for sale (at the right price may I add) get snapped up very quickly, that's why we're looking in Milton Keynes instead as we can get more 'house' for our money. We are going to sell up and rent until we have enough money to buy and the right house comes along...will also prefer buying as chain-free peeps as we feel it'll give us more bargaining power.

Good luck in your selling and buying pursuits

Az

tawse57

I personally think that many EAs over-value properties just to get houses on their books - and sellers are all to happy to believe the valuation... and then the house sits there for months or even years... reluctantly gradually reducing the price until you get to a line where you are not prepared to drop the price any more... and the EA wholeheartedly agrees with you... but the cold harsh reality is that the price is still way over value.

Sorry to brutal but that is the reality of the UK housing market currently.

EAs and sellers are in denial.

The CGT rise on second homes will just see properties flood on to the market which will inevitably drive down prices further. The US and Eire have seen house prices drop by 50% and they are still falling, same for Spain, and the only reason it has not happened here in the UK, yet, is because Gordon Brown bankrupted the country by printing hundreds of billions, kept interest rates at basically zero and hired millions of public sector workers... and in doing so created the biggest housing bubble in history.

If you are still reading this then read on... I am not saying this to rub your noses in it but to perhaps give you a dose of reality and a wake-up call. The housing market is only going to get worse IMPO as job losses mount, interest rates inevitably rise and second home owners sell up.

Perhaps dropping the price to a realistic price to sell now is the sensible thing to do. I would rather sell and take less than be forced to take much, much less in 6 or 12 or 18 months.

In the US and Eire now no one is even thinking about buying property - they have had enough and within a few years many in Britain will be feeling the same.

Or you can ignore this and listen to the EAs who will tell you what you want to hear just to keep you on their books in the hope of making money out of you.

This is not advice but just personal comment - make up your own mind.

[Deleted User]

Can someone tell me about the selling process, from a sellers point of view ie what happens after an offer is accepted?

whitesatin

tawse57 wrote: »

I personally think that many EAs over-value properties just to get houses on their books - and sellers are all to happy to believe the valuation... and then the house sits there for months or even years... reluctantly gradually reducing the price until you get to a line where you are not prepared to drop the price any more... and the EA wholeheartedly agrees with you... but the cold harsh reality is that the price is still way over value.

Sorry to brutal but that is the reality of the UK housing market currently.

EAs and sellers are in denial.

The CGT rise on second homes will just see properties flood on to the market which will inevitably drive down prices further. The US and Eire have seen house prices drop by 50% and they are still falling, same for Spain, and the only reason it has not happened here in the UK, yet, is because Gordon Brown bankrupted the country by printing hundreds of billions, kept interest rates at basically zero and hired millions of public sector workers... and in doing so created the biggest housing bubble in history.

If you are still reading this then read on... I am not saying this to rub your noses in it but to perhaps give you a dose of reality and a wake-up call. The housing market is only going to get worse IMPO as job losses mount, interest rates inevitably rise and second home owners sell up.

Perhaps dropping the price to a realistic price to sell now is the sensible thing to do. I would rather sell and take less than be forced to take much, much less in 6 or 12 or 18 months.

In the US and Eire now no one is even thinking about buying property - they have had enough and within a few years many in Britain will be feeling the same.

Or you can ignore this and listen to the EAs who will tell you what you want to hear just to keep you on their books in the hope of making money out of you.

This is not advice but just personal comment - make up your own mind.

Certainly food for thought, thanks. If only prices were the same in every area, I could go for that idea.