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

westlondonbuyer

Squish_21 wrote: »

How often are you guys dropping the price of your property?

Or are you just leaving it at the asking price and hoping for offers?

I priced mine equal to the 2007 price initially, on the advice of the agent who said I'd be offered anything between 5% and 30% below without reducing it. That turned out to be the case.

The successful buyer paid 12% below my asking price and I was more than happy with that, though I may have been able to get a bit more if I'd been prepared to wait. I was getting married though, and needed the bird in the hand.

westlondonbuyer

Davesnave wrote: »

Houses on the other side had dark gardens and kitchen/diners and were overlooked, so they took much longer to sell.

Completely agree with this. I'd never even considered orientation until I started renting this house. Without even realising it, everywhere I've lived before was East/West. This place is North/South and it's SO dark at the back of the house we have to have the kitchen lights on all day.

But don't go making me even fussier than I already am:D

NEH

westlondonbuyer wrote: »

Sorry you feel that way.

My husband and I sold our two pre-marriage flats last year in a much worse market than this one.

We were able to do it because we were prepared to respond to things we didn't want to hear. Obviously homes are a really sensitive subject which is why, when I'm actually at viewings and not on an internet message board, I keep my thoughts to myself.

It's not about what we don't want to hear, anyone who sells or buys a property knows the situation and what they're up against they just don't need it spelling out for them every five minutes and you are one of many who have come onto this thread and whilst you may not mean it your tone comes across as lecturing. We are intelligent people here we can work things out for ourselves, i think you just need to back down a bit on telling people what they are doing wrong...

westlondonbuyer

I didn't mean to come across as "lecturing", so I'm sorry about that.

But it's kind of frustrating being a buyer too, and a lot of people in this thread seem to be totally unaware of that. Look at the comments above: we're being called "nosey" and "time-wasting" and "tyre-kickers", and being accused of not knowing what we want.

As I know from my experiences in 2008/09 that it *is* possible to sell in a godawful market, it's difficult to zip it when I come across sellers who haven't reduced the price/refuse to accept their house is not attractive/think the market will improve in a month, a year or whenever...but then blame the buyers or the agents for their failure to sell.

NEH

westlondonbuyer wrote: »

I didn't mean to come across as "lecturing", so I'm sorry about that.

But it's kind of frustrating being a buyer too, and a lot of people in this thread seem to be totally unaware of that. Look at the comments above: we're being called "nosey" and "time-wasting" and "tyre-kickers", and being accused of not knowing what we want.

As I know from my experiences in 2008/09 that it *is* possible to sell in a godawful market, it's difficult to zip it when I come across sellers who haven't reduced the price/refuse to accept their house is not attractive/think the market will improve in a month, a year or whenever...but then blame the buyers or the agents for their failure to sell.

Can i ask why are you on this thread, are you selling? If you are buying it would better for you on the buyers support thread....

I think you need to read the posts more carefully as some people do come around for a nosey, i have had them in this rented house that my landlord is selling and as for people not knowing what they want not everybody does, when doing a viewing for this place i nearly had a domestic because the wife wanted one thing and the hubby wanted another...

I'm afraid you're too late with the we should all reduce our price lecture as well as many have gone before you and some of us as you will read in previous posts it makes no difference when we do reduce our price....

I suggest you read no more on this thread as it will fustrate you, there isn't a simple black and white solution to those of us having trouble selling and you can't pigeon hole us into all the same box...;)

westlondonbuyer

Actually it doesn't frustrate me, and I've learnt loads from the views of both the sellers *and* the buyers on this thread. It's always helpful to see a situation from another's point of view.

But thanks for thinking of my welfare.

westlondonbuyer

NyimaR wrote: »

I am in a rush to move though so this has a big impact on things (I live in Coventry and start a job in London on Thursday).

Could you rent out your house and rent in London? Or do a part-exchange with a big company?

NyimaR

westlondonbuyer wrote: »

Could you rent out your house and rent in London? Or do a part-exchange with a big company?

It wouldn't really be economical for me to rent in london. A rental of a big enough place in the area I'm looking at would come to about £850 per month for the cheapest around whilst if I bought and had a mortgage then it would only cost me about £700. I also don't want the responsibilities of being a landlord - been there and it was too much like hard work when I was living in teh house and renting rooms - it would be worse to have to commute for every problem.
I can't do a part exchange because newbuilds are few and far between in the area, I don't particularly like them, and the gardens are way too pokey!
I know that I might sound fussy but it just doesn't make sense to me to not sell - even if I'm biting my nail to nothing waiting for a buyer!

not_loaded

As regards, “everything will pick up in September”, it’s long been known that late July and August are not good for selling, and viewings do pick up September onwards. Logically westlondonbuyer, the last few weeks should have been an extremely good opportunity for you buying though. Have you made the best of it?

westlondonbuyer wrote: »

If your agent is not filtering these people out, they are not doing the job for which you're paying them.

No, they should be doing the job that YOU want them to do. Parameters can be agreed.

westlondonbuyer wrote: »

Still, if a *buyer's time* is wasted looking at a house with revolting presentation and a pie-in-the-sky price because the vendor isn't actually prepared to sell, just trying it on at an experimental high price, who cares???

You seem to be a very frustrated buyer. You can see the price (and usually a reasonable view of the property on RightMove) before you ‘waste your time’ viewing. This and your #4916, show that you’re not totally clued up on how it all works in reality. Your theory is fine, but real life is different.

If everybody worked as rigidly to the rules as you suggest/lecture (because it’s all so painfully simple) then it wouldn’t be a sluggish market it would be a non-existent market.

westlondonbuyer wrote: »

I've posted in my other thread about the 6 houses for sale in the road where I'm renting. All of them are identical Victorian cottages, though some have been extended and gentrified and others haven't…
…I'm sure, after all this time, none of these vendors can understand why their house isn't selling. Yet none of them will reduce the asking price to even 2007 selling price.
Whenever I query this with the agents, I'm told, "She already thinks it's good value versus Number __ because she has a conservatory/downstairs loo/nicer kitchen".

Why would anyone keen to buy care about a stalled situation like this?

You should bear in mind this is the seller’s thread not the buyer’s thread.

As an enthusiastic buyer, who clearly knows everything there is to know about buying and selling, you should be able to get a very good deal right now, and yet you’re on here niggling at a few sellers. It’s a seller’s prerogative to try for the price THEY want, and equally, a buyer’s prerogative to try for the price THEY want. Go for it!

westlondonbuyer wrote: »

…The price I've got in my head is what it would cost today to replace them with a bathroom commensurate to the overall price of the house today.
The vendor, who last replaced the bathroom in 1989, when her house cost about a quarter of what it costs today, is horrified when the estate agent tells her I want five figures off to replace the two bathrooms. "What does she want," the vendor says of me, "solid gold taps?"
I don't want solid gold taps. But neither do I want a £300 B&Q bathroom in a house that now costs 2000 times the price of such a bathroom.

So just move on to the next property that interests you. There’s a few around at the moment I believe.

Sellers will always have a ‘sticking point’ on price/viewer demands, and vice versa, so will buyers. Surely, bridging that uncomfortable impasse in life is what successful buying and selling (not just houses) is all about?

westlondonbuyer wrote: »

I didn't mean to come across as "lecturing", so I'm sorry about that.
But it's kind of frustrating being a buyer too, and a lot of people in this thread seem to be totally unaware of that. Look at the comments above: we're being called "nosey" and "time-wasting" and "tyre-kickers", and being accused of not knowing what we want…

I can’t see anywhere above that you have been called anything. Why exactly do you feel those comments apply to you?

Squish_21 wrote: »

How often are you guys dropping the price of your property?
Or are you just leaving it at the asking price and hoping for offers?

<<YYAAAWWWNN>>

westlondonbuyer

You need to read my thread to understand why I haven't bought. Yes, I'm a very frustrated buyer. Lots of houses on sale here, but none priced to sell so none are being sold.

Therefore wondering what's to be gained by being on the market for six months. Perhaps some people just like looking at pictures of their house on Rightmove.