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

tyllwyd

Jackinbox99 wrote: »

...How long before I should reduce the price? I dont want to risk dropping it to the same price as the crappy houses, else people will start to wonder why a house with garden twice as big, a new triple garage and probably £40k spent on it this last 2 years is the same price!

It's difficult because obviously you want to sell quick - but for me, personally, I'd say you spent time deciding what price you would ask for, looking at the local market and trying to price competitively, so if its only been three weeks I'd say you need to hold your nerve, nothing much has changed in those three weeks so if the price was right before, it is still right now.

Grimbal

Updated 13-10-2010.

Blodwen: On market for 16 weeks with old EA, 3 viewers (and buyer who then pulled out) in first month. First week with new EA.

NEH: On market 33 weeks, 3 viewers,1 ridiculous offer soundout, useless Solicitor who can't find the bed or the flat itself. Price dropped end of September, someone went in for a schedule and talked about plans to convert but nothing back as yet. Planning to rent it out from November.

Emilia15: On market for five weeks (feels like a lot longer), three booked viewers (although only one turned up!), price reduced by £8500 last week, EA who was dealing with us has mysteriously 'left the company', trying to deal with the chronic lack of buyers by adopting a zen-like stance and also by reading this thread

rosered100 - been on the market since March. Had an offer from the first viewer at 91% of asking which we accepted. They dropped out 2 days before exchange. Dropped the asking price to the level of our first offer. Total of 16 viewers, 5 of them viewed twice. Then 2 offers came on the same day a fortnight ago at 10% below our new asking price. We have reluctantly agreed to one of them as long as they get on with it. Havent heard a word from them since.

Grimbal: On market Oct 2009. Sale proceeding nicely. Agreed a price of onward property. Just waiting to find out their chain now

Harz99: Going on market Feb 2011. Not yet seriously looking at places to buy.

Sonastin: On market Christmas 2009. Sale completed August 2010. Serious problems with the house I want to buy that are taking ages to resolve. Nothing else on the market that suits. Stuck living with my mother in the meantime

tyllwyd: went on market on 5 May (Election day - great timing!!) Dropped price once, four viewings so far but none proceedable. Enthusiasm for the whole idea of moving gradually ebbing away.

Snowlady07: On market since early Sept 2010. Realistically priced but no interest as yet

Squish_21 - Been on market 15 weeks. Had 1 viewing & 1 very low offer during 12th week (buyer couldnt get the mortgage amount they thought). On 14th week we have started offering '5% deposit paid by vendor', as its a 1 bed flat instead of a price drop. A price drop will follow in January if no more interest. Its tough going for us sellers!


Shabby_chic: Went on market March 2010, approx 10 viewings and a couple were interested but none proceedable. Cash buyer viewed week 14 and made offer £10k below asking, negotiated to £5k less and currently waiting to exchange though plan to complete on 24/09/10 (fingers crossed).

Ocalllo - on market since Feb 10, 3 views only 2 turned up. Chgd agent beginning of June, 5/6 viewings more - 1 x low offer, which we refussed, they came looked at hse again and pulled out! dropped price twice, gone live with new price 1 hr ago!!!!!

Maidmarian - On market from August 2008, dropped price 17%, 21 viewings, no offers. Asking price now below Zoopla and Land Registry indices. Took it off the market today.

Newstudent24-I put my 2-bed ground floor flat up for sale in May 2010, originally for 98,500 (which I thought was a little high at the time but the EA said it was a good price). I have reduced the price twice since then and is now on the market at 92,950. I have had a total of 5 people look at it - one of which was an upstairs neighbour who I think just wanted a nosey around....and a landlady who offered me 20k less than the asking price so I could carry on living here as a tenant. Luckily I don't have 'mug' written on my forehead!

Smiley79-have been on the market since Feb2009 yes thats Feb 2009, I have dropped the price several times to now way under what we bought it for 6 years ago. We have had 2 sold subject to STC which have both fallen through one a week before moving (6th Jan) and the second in April.

tiny_tear-on the market since Dec09. Have lowered the price a few times. willing to take offers. So far had one offer (too stupid to even make a counter offer) and one person who viewed THREE times - the last this weekend - decided today not to make an offer and gave no explanation to why... Just lowered the price another £3k...

Chyna-s- One market 1week, have had an offer already of 5% below the asking price.

JW - on the market 4 weeks, 3 viewers, 3 offers, 1 agreed but they pulled out, last offer made about 10 days ago, we said no and they have sat on it since. They came back with a higher offer which we have accepted so are now off RM with a "under Offer" banner on the sign outside.

Jen: Been on the market 15 weeks 6 viewings, 1 second viewing and 2 cancellations. Our latest viewing took place this afternoon and they seemed positive but don't they all. I won't be holding my breath. But they are under offer and looking to move into the area so sound proceedable. Fingers crossed.

Paul97: On market for 4 weeks two viewings last week, both interested, but 1st one wanted to do a let to buy and can't get finance, 2nd viewing FTB, just had call from EA they have a mortgage in place and are interested, but will not make a decision until weekend after they have looked at other properties. Keep everything crossed for us.

Clarrisa62: We have had our flat on market for nearly a month. 3 viewings, last lady liked but has opted for a slightly larger flat.

NyimaR: Under offer for 2k less than I paid in 2004. First time buyer so at least there's no chain and I'm planning on putting a short break in the chain to make this go through as quickly as possible. Need to figure out where I put my FENSA certificate. House hunting this weekend.

Djheath: One bed flat for sale in Surrey, put on market at the beginning of August. Had two viewings since then. Reduced the price by £10K.

LivingintheSun: House on the market approx 5 months. Plenty of viewers, most of whom still have a house to sell. Consistently very positive feedback. Agents have advised against dropping the price.
One offer, rejected as £20k under home report valuation.

SazM030306: House for sale 01/07/10. Had 2 viewers. Lowered price by 5k 07/10/10. Viewing other properties, none seem ideal! Can't wait to find 'the one' and get moved in.

Babymerlin

hi eveyrone, just thot i would say hi,

been reading for a while, house has been up for sale for 14 weeks, 7 viewers, no interest in offers.

dont know where we go from here. do you think moving EA is the way to go, or do they all do the same thing?

the most annoying this is, we put our house up for sale, our friends down the road did (who have everything handed to them on a plate) and it sold within a week - jealous moi? of course!!!! wish they could have waited a bit. they werent even thinking about moving until we did.

really wanted to move before xmas, but thats not gonna happen now. just dont know what to do to make it more appealling! its decorated to high standard, big garden, clean etc. just obviously not the house they want! :mad:

HelenDaveKids

becoming a bit of an addict with these threads, sad thing is when your trying to sell it almost takes over everything else. so would like to join please;

Helen. House on market 5 weeks. Have already bought the next one so no choice but to go for it. 1 viewer (noisey rather than interested). But feedback on photos was generally very kind (and really appreciated). Have dropped price by 5k today, also willing to consider selling as part exchange (if property is rentable and gives enough equity release), No chain. Also have decided to run with suggestion of open day.

Jenniefour

ocalllo wrote: »

Do you think people will start buying again once the government announce the latest round of cuts?
Is that what everyone is waiting for?

We live in a large Government dependant area for jobs i.e council etc. and im just wondering as these would be our target market so has everyone who works for the government/council put their lives on hold waiting for the announcment??

im hoping they won't be too bad and people will be in a position to make plans again and someone will come buy my house!!!

Unfortunately, I don't think the housing market will look up at all after next weeks spending cuts. On the contrary, I believe the present difficult situation will continue and perhaps get worse, with all the new mortgage restrictions due in soon. And for those like youself who live in an area where local government is a major source of employment it is going to be tough - lots of those people you are thinking of targetting are soon going to be without a job - and this is going to happen for the next four years.

HelenDaveKids

I agree. Husband works for council, I work for NHS!!

Jenniefour

Yes, horrible situation - and hope you all get sold superquick!

harz99

Updated 14-10-2010.

Blodwen: On market for 16 weeks with old EA, 3 viewers (and buyer who then pulled out) in first month. First week with new EA.

NEH: On market 33 weeks, 3 viewers,1 ridiculous offer soundout, useless Solicitor who can't find the bed or the flat itself. Price dropped end of September, someone went in for a schedule and talked about plans to convert but nothing back as yet. Planning to rent it out from November.

Emilia15: On market for five weeks (feels like a lot longer), three booked viewers (although only one turned up!), price reduced by £8500 last week, EA who was dealing with us has mysteriously 'left the company', trying to deal with the chronic lack of buyers by adopting a zen-like stance and also by reading this thread

rosered100 - been on the market since March. Had an offer from the first viewer at 91% of asking which we accepted. They dropped out 2 days before exchange. Dropped the asking price to the level of our first offer. Total of 16 viewers, 5 of them viewed twice. Then 2 offers came on the same day a fortnight ago at 10% below our new asking price. We have reluctantly agreed to one of them as long as they get on with it. Havent heard a word from them since.

Grimbal: On market Oct 2009. Sale proceeding nicely. Agreed a price of onward property. Just waiting to find out their chain now

Harz99: Going on market Feb 2011. Not yet seriously looking at places to buy.

Sonastin: On market Christmas 2009. Sale completed August 2010. Serious problems with the house I want to buy that are taking ages to resolve. Nothing else on the market that suits. Stuck living with my mother in the meantime

tyllwyd: went on market on 5 May (Election day - great timing!!) Dropped price once, four viewings so far but none proceedable. Enthusiasm for the whole idea of moving gradually ebbing away.

Snowlady07: On market since early Sept 2010. Realistically priced but no interest as yet

Squish_21 - Been on market 15 weeks. Had 1 viewing & 1 very low offer during 12th week (buyer couldnt get the mortgage amount they thought). On 14th week we have started offering '5% deposit paid by vendor', as its a 1 bed flat instead of a price drop. A price drop will follow in January if no more interest. Its tough going for us sellers!


Shabby_chic: Went on market March 2010, approx 10 viewings and a couple were interested but none proceedable. Cash buyer viewed week 14 and made offer £10k below asking, negotiated to £5k less and currently waiting to exchange though plan to complete on 24/09/10 (fingers crossed).

Ocalllo - on market since Feb 10, 3 views only 2 turned up. Chgd agent beginning of June, 5/6 viewings more - 1 x low offer, which we refussed, they came looked at hse again and pulled out! dropped price twice, gone live with new price 1 hr ago!!!!!

Maidmarian - On market from August 2008, dropped price 17%, 21 viewings, no offers. Asking price now below Zoopla and Land Registry indices. Took it off the market today.

Newstudent24-I put my 2-bed ground floor flat up for sale in May 2010, originally for 98,500 (which I thought was a little high at the time but the EA said it was a good price). I have reduced the price twice since then and is now on the market at 92,950. I have had a total of 5 people look at it - one of which was an upstairs neighbour who I think just wanted a nosey around....and a landlady who offered me 20k less than the asking price so I could carry on living here as a tenant. Luckily I don't have 'mug' written on my forehead!

Smiley79-have been on the market since Feb2009 yes thats Feb 2009, I have dropped the price several times to now way under what we bought it for 6 years ago. We have had 2 sold subject to STC which have both fallen through one a week before moving (6th Jan) and the second in April.

tiny_tear-on the market since Dec09. Have lowered the price a few times. willing to take offers. So far had one offer (too stupid to even make a counter offer) and one person who viewed THREE times - the last this weekend - decided today not to make an offer and gave no explanation to why... Just lowered the price another £3k...

Chyna-s- One market 1week, have had an offer already of 5% below the asking price.

JW - on the market 4 weeks, 3 viewers, 3 offers, 1 agreed but they pulled out, last offer made about 10 days ago, we said no and they have sat on it since. They came back with a higher offer which we have accepted so are now off RM with a "under Offer" banner on the sign outside.

Jen: Been on the market 15 weeks 6 viewings, 1 second viewing and 2 cancellations. Our latest viewing took place this afternoon and they seemed positive but don't they all. I won't be holding my breath. But they are under offer and looking to move into the area so sound proceedable. Fingers crossed.

Paul97: On market for 4 weeks two viewings last week, both interested, but 1st one wanted to do a let to buy and can't get finance, 2nd viewing FTB, just had call from EA they have a mortgage in place and are interested, but will not make a decision until weekend after they have looked at other properties. Keep everything crossed for us.

Clarrisa62: We have had our flat on market for nearly a month. 3 viewings, last lady liked but has opted for a slightly larger flat.

NyimaR: Under offer for 2k less than I paid in 2004. First time buyer so at least there's no chain and I'm planning on putting a short break in the chain to make this go through as quickly as possible. Need to figure out where I put my FENSA certificate. House hunting this weekend.

Djheath: One bed flat for sale in Surrey, put on market at the beginning of August. Had two viewings since then. Reduced the price by £10K.

LivingintheSun: House on the market approx 5 months. Plenty of viewers, most of whom still have a house to sell. Consistently very positive feedback. Agents have advised against dropping the price.
One offer, rejected as £20k under home report valuation.

SazM030306: House for sale 01/07/10. Had 2 viewers. Lowered price by 5k 07/10/10. Viewing other properties, none seem ideal! Can't wait to find 'the one' and get moved in.

Helen: House on market 5 weeks. 1 viewer (nosey rather than interested). Have dropped price by 5k today, also willing to consider selling as part exchange (if property is rentable and gives enough equity release). No chain. Also have decided to run with suggestion of open day.

HBYER

I am not a spammer!

SazM030306

We were talking last night, and decided to go round with a lick of paint, and get rid of a load of 'stuff' either to my mums or into the loft. We also discussed double glazing. It would cost us about £2500 to get the windows and door done.
Would you recommend doing this in order to get it sold? Would it make any difference to the price? It's up for £79,950 at the moment. We really need to get out of here asap. Five of us in a 2 bed front terrace with no garden is just too much!!