1 flat, 2 months, 29 viewings, no offers? Can anyone beat this?

inflationbusting

New price range is more sensible. I know this area extremely well. I can only think of these reasons as to why:
- Commuters: 0.5 miles doesn't sound far but the place is pretty far from the station; 10 minutes on foot at best. The measurements from Rightmove I believe are done as the crow flies; perhaps people did the walk after viewing it. There are most likely flats towards Woodford Broadway which are a similar price (but not as nice), perhaps people would factor that in. If I needed the tube for work, proximity would be big factor.

- Competition: Becoming a popular area for younger couples but the explosion of flats in South Woodford combined with the crunch has sent prices lower. At your median price (£225,000), that would definately get you a 2-bed flat equivalently as close to the tube, maybe new-build, maybe ensuite. For a younger couple it really is a no-brainer to choose South Woodford over Woodford.

As well, toward Chigwell Road (which is also 0.5 miles from the station by the map) you can pick up a house in the same price range, some with 3 beds. Not as nice an area perhaps, but again there is a real strong argument for a couple to go for a house over a flat.

What you are not making use of (and maybe your viewers are not seeing) is the great open spaces of the cricket grounds just round the corner, perhaps get some of these photos in. For a parent it's possibly better to have this than a small back garden; it's a safe area (generally chav-free) and kids have a huge space to play football or stuff.

Also I believe this would be in the catchment area for several of the good schools on the High Road, so that could be mentioned as well.

Fire_Fox

Why reduce the price until you have tarted up the garden up a bit which will cost you little more than time?? Outside space is at a premium in London, yet you admit there is nothing to see and viewers aren't even going out there! Don't assume the general public has an imagination, if property !!!!!! is anything to go by they don't.

olly300

goldbyron wrote: »

Copy of e-mail sent top EA today (they are shut until Monday)

I have been reviewing my property sale in the last few days as I have been confused as to the amount of viewings in proportion to the lack of any offers. I have gathered advice from various sources including submitting the link to prospective buyers in house buying forums. The overwhelming advice has been to use new photographs in the marketing details and well as including ones of both my bedrooms and even the yard. The feedback has also suggested the price range is too wide and confusing.

As a result I would like to request that new photographs (with a wide angled lense if not used previously) are taken on a sunny day sometime this week of both my bedrooms and lounge/kitchen (the kitchen I am going to de-clutter slightly). I also think a picture of the yard would be helpful even if it just shows the shed area. I am very pleased with all the viewings however would rather accept less viewings if assured the right buyers were coming through the doors who would be seriously interested in making an offer.

I also think it may be wise to take my flat off the market on the 23/12 (if not sold of course) and release it again on the 05/01/2010 with a price range of 200-225k. I would also like to add some personal words in the marketing details which I am happy to send to you.

Please let me know if this could be actioned this week (there are sunny days predicted) and I am happy to pop home one lunchtime to aid this if possible.

Many thanks

I personally think your price range should either be:
1. an actual figure in the middle of your price band i.e. 215K
2. Or in the form of "offers over 205K"

That way you will get people who actually know what they should offer. If I saw a property that was offered between 200K and 225K I wouldn't bother offering as I would think the seller wanted the upper end and would be difficult to deal with. There as if you state " offers over " or an actual price I know I could negotiate.

Also mentioning schools as pointed out by the previous poster in your EA advert is a good one as you have 2 bedrooms.

I suggest you call the EA on Monday and confirm that they receive the email and state exactly what you want even if you are repeating what is in the email.

timesphere

If you have had 29 views and no offers its a bit of a no-brainer,

either the flat is very over priced, but then 1 of the 29 would have put in a cheeky (very low) offer,

or something about the flat / building / area is putting all 29 off making an offer.

brit1234

Anyone with the property bee tool for right move will see the changes and ignore till you drop the price.

On property bee it reads you put the price up £50K on 2nd of December. Seeing that people will look else where, loads of us ftb use property bee now even estate agents.

link below to check for yourself:
http://www.property-bee.com/

Personally with price set to fall your pricing yourself out,people are strting to realise prices are falling again especially asking prices.

Fire_Fox

olly300 wrote: »

I personally think your price range should either be:
1. an actual figure in the middle of your price band i.e. 215K
2. Or in the form of "offers over 205K"

That way you will get people who actually know what they should offer. If I saw a property that was offered between 200K and 225K I wouldn't bother offering as I would think the seller wanted the upper end and would be difficult to deal with. There as if you state " offers over " or an actual price I know I could negotiate.

I agree: why put £200K-£225K? If someone offers £201K will you actually accept? If not your range is inaccurate.

goldbyron

inflation busting - very helpful thanks.

I don't understand property bee as I didn't put the price up on the 02/12???

It is the agent that uses ranges but it seems to be off putting for all of you so may change this.

Am not sure what is putting them all off though....certainly not the area or the flat itself.

Fire_Fox

How do you know the flat itself is not putting people off? You have had several people say 'it doesn't grab me' - I know I keep banging on about it, but I wouldn't want to pay a premium for outside space that I didn't perceive as usable. It's the same with bedrooms, people see a tiny home office and they mentally mark reduce the number of bedrooms by one. 'Rooms too small' is often a euphamism for needs decluttering/ better storage solutions.

inflationbusting

Perhaps it's just that there are loads of flats to choose from at the moment in the surrounding areas. Perhaps it's just bad luck, even with the ambiguous price range I am surprised no-one offered something below like £185k (which would be a great deal for the area at present prices).

Do a bit of research onto competing flats on Rightmove.. what are they advertising, what are their pictures? After your 29 viewings, you should have got a much better idea of roughly who the target market is. Are they all young singles, or perhaps couples or families? Bear this in mind when talking to them.

A lot of the time it comes down to feelings, or simply a part of a house that has a wow factor. Too many average things, make a house pretty unmemorable.

Only things I can think of internally are to perhaps clear the front of bushes and get a straight-on photo without the car there on a day. Declutter to the extreme, even if it means moving stuff elsewhere. It's easier for people to super-impose their own lifestyle onto an empty space. Is the kitchen big enough to create an eat-in diner, breakfast bar, or to put the table? By the looks of it, there are nice all-silver units and a decent hob but the wall makes it look a bit clinical. A bit of tiling would really make it seem more homely.

newbi

Hi, Douglas Allen are the worst agents there are. We tried to sell my dads flat in east london as well and they are very bad. They put across the wrong type of clients, don't organise viewings properly and don't really sell your property. There are buyers out there. Its not the flat or the area. Its your agents. They tie you in for 4 months and you are just going to have to wait it out or advertise it yourself and go for a private sale.
A better agent would have taken better photographs and highlighted the flats selling points.