nobody buying one bed flats anymore?

vaporate

Fire_Fox wrote: »

Anything will get viewings and sell if it's priced appropriately. It's highly unlikely two bedroom flats are worth the same as one bedroom flats, more likely all the one bedroom flats are overpriced! It is irrelevant that you have dropped the price if the price you started with was unrealistic. Have you looked at land registry sold prices for your street and area to get a feel for the true value of your flat? Have you got sitting tenants in the flat or is it empty? Tentanted flats are worth far less than those with vancant possession.

Spot on!

I see 1 bed flats for 100k.

lol People selling such flats are having a laugh. 60k is bad enough

stellaforstar

1 bed flats in what area for £100k?

gmang

stellaforstar wrote: »

cannon fodder - so if its on the market at 149, i should expect £141? I would take £141 if someone would offer it

So why not put it on at £139k? That way you might get more viewings and some offers. At the minute you have nothing to work with. If you get a bunch of offers then you might be able to get close to what you paid for it.

vaporate

stellaforstar wrote: »

1 bed flats in what area for £100k?

Not in a great area. Folkestone lol Saw it advertised few weeks ago.

Considering terraced houses went for around 50k (13 years ago now), the idea of paying 100k for a 1 bed flat is pure comical.

makes me laugh but angers me too

MissAqua

I have been looking in the surrounding area where your flat is and I would have said that you are aiming at the top end. Although it looks lovely, price wise for that area, I would have said it was high. If I hadn't already found somewhere I would admit, at £140,00 I would have done a viewing.

Fire_Fox

stellaforstar wrote: »

thanks everyone. there does seem to be so much competetion out there - one viewing we had a couple of weeks ago had seen 10 one beds in our area in just one weekend, so had lots to choose from ! - by the way, we are living in the flat at the moment, but will need to move out and rent it out if it cant be sold soon.

one thing about the reasonably priced issue though - why dont people even just putin a silly, taking the pixx offer? i mean, its on at 149, offer me £140? why dont people chance their arm with things like this anymore.

and why isnt it classed as a reasonable price when all the other 1 bed flats in the area are selling for more ? surely if ive priced it under the latest sales figures, it should be classed as reasonable?

There is nothing wrong with your flat but if there are ten other one bedroom contenders PLUS two bedroom flats within the same price bracket what is it about your flat that is going to stand out? Either it needs to have the wow factor or be an amazing bargain. Cannon Fodder said you "at best can expect £141K" so what is taking the mick about an opening offer of £140K?? All the other one bedroom flats aren't selling for more - the cream of the crop are but most are not selling ..... because they are overpriced!

Cannon_Fodder

stellaforstar wrote: »

I would take £141 if someone would offer it

Then do £141k Fixed Price.

It might even drum up some competition.

Thrugelmir

stellaforstar wrote: »

thanks everyone. there does seem to be so much competetion out there - one viewing we had a couple of weeks ago had seen 10 one beds in our area in just one weekend, so had lots to choose from ! - by the way, we are living in the flat at the moment, but will need to move out and rent it out if it cant be sold soon.

one thing about the reasonably priced issue though - why dont people even just putin a silly, taking the pixx offer? i mean, its on at 149, offer me £140? why dont people chance their arm with things like this anymore.

and why isnt it classed as a reasonable price when all the other 1 bed flats in the area are selling for more ? surely if ive priced it under the latest sales figures, it should be classed as reasonable?

Use the reverse. Market the property at offers over £135k. Then you'll get offers pushing the price upwards......

You say its been let for 2 years. So is the general condition and decor good ? People tend to spend less on rental homes than their own and it shows in terms of quality of finnish and fittings.

Fortheloveofmoney

I sold a 1 one bedroom house in Berkshire last year after only being on the market for a week. I was after a quick sale so when it went on the market I made sure it was the cheapest 1 bed house in the area. Flats were still a little cheaper but not by much.

If you can buy a 2 bedroom property in the same area for the same price then you are going to have to reduce your price. It depends on how badly you want to sell.

Owain_Moneysaver

Put it on at fixed price, first offer secures, no chain, carpets and large appliances included, which is what a first-time buyer wants. And it has to be a realistic price according to what a lender will offer a mortgage at, not an over-hopeful estate agent thinking more about his commission than about the state of the property and financial markets.