Keen to sell but little interest. Advice needed please!

RHemmings

netwalk wrote:

Thankfully yes. We are using Nottingham Property Services and all their properties are on Rightmove. They are even sending us the page view and click through stats on a fortnightly basis and the conversion rate has recently been over 10% which is apparently way above their average, but still no offers. The listing on Rightmove looks good in my opinion but any comments would be welcome:

http://www.rightmove.co.uk/property/6284518

That looks like a beautiful house, that I would be very happy to live in. I don't live anywhere near you so I cannot make an offer. I can't comment on location.

It looks better than the cheapest 4 bed detached in your area.

http://www.rightmove.co.uk/viewdetails-7995658.rsp?pa_n=1&tr_t=buy

and it doesn't have an awful bricked over back garden like that property. But your house is £36K more. Do you know if the other has has had viewings. Have you tried pretending to be a buyer and visiting the other house and trying to find out how much interest there has been in it?

Looking at nethouseprices, the prices in your road have been up and down. Are there are lot of different types of properties on your road? How does your property compare to the other properties that have sold for similar or much cheaper prices?

http://www.nethouseprices.com/index.php?con=sold_prices_street_detail&locality=SOUTH+RESTON&town=LOUTH&street=MAIN+ROAD&postcode=&search_radius=&cCode=EW&year=&house_style=&house_age=&house_type=&find_postcode=&find_locality=southreston&find_town=&find_street=mainroad&eastingToSearch=&northingToSearch=

It could be that even if your property is fairly priced, there aren't enough people around who can afford it, meaning that only cheaper properties will sell, efven if they're overpriced and more expensive properties are better value for money. What is the job market like around your way. You seem to be in a slightly remote "holidayish" location. What sorts of people buy houses in your area? -- RH

Doozergirl

Your house looks very presentable and certainly seems to be in the right price bracket looking at properties in LN11.

But have you seen the sheer glut of 4 bed detached houses on the market in the price range? It goes on for pages and pages. It maybe isn't down to price, maybe just the fact that there are so many to choose from. Your kitchen is absolutely perfect (I had one just like that!) maybe a little bit of expenditure like running the same carpet throughout the house to give some continuity and the 'show home' touch? It doesn't need to be expensive carpet if you're simply selling. Dare I say, your blue bedroom really would look stunning (my kind of colours) if the carpet were of the cream variety.

netwalk

Thanks to Doozergirl and RHemmings for your positive comments and sorry for taking so long to update this thread.

RHemmings wrote:

Looking at nethouseprices, the prices in your road have been up and down. Are there are lot of different types of properties on your road? How does your property compare to the other properties that have sold for similar or much cheaper prices?

Yes, prices are very up and down. Most houses are unique in this area (no large lego estates) so it is very hard to compare. It may be as you and Doozergirl say there are too many 4 bedroomed houses on the market around here. That doesn't help though.

Following the advice given on here we dropped the price by another £4k on 24th August to bring it down to £246k. Since then we've had a grand total of zero viewing. Nothing, nada, zilch. It's all very depressing.

The house is now also on a new site called Homesell who rang up and offered to put it up for free!

http://www.homesell.co.uk/PropertyDetails.asp?AdRefSearch=YI631F52H

The only other interest we've had is from a company call Netmovers who want to charge £99 to advertise on their site.

http://www.netmovers.net

Has anyone heard of Netmovers and more importantly had any results with them? They claim to sell in an average of 5-6 weeks and have a list of pre-approved buyers but I'm very wary. I don't want to throw good money after bad!

Another option we do not really want to consider is the likes of Cash4homes.

https://www.cash4homes.co.uk

Yes, it is a quick sale but 20% off the market price will be £10k's leaving us with precious little left over. I'm pretty sure their market price will be nothing like the £260k to £280k estimated by the Estate Agents in March.

We have an appointment booked tomorrow with the EA to see what they suggest. Does anyone have any suggestions on questions to ask and what approach to take?

We are planning on suggesting dual agency but I'm not sure it will help and will drive our costs up even further. Hoepfully the EA will have a better picture of the market and tell us what we can realistically sell for today, rather than flattering us to get the commission.

Thanks to all for the feedback so far. Cross your fingers for us! Julian.

Tassotti

How does The Sanctuary Main Road compare to yours?

It sold in May for 176K

netwalk

Tassotti wrote:

How does The Sanctuary Main Road compare to yours?

It sold in May for 176K

Hi, it's the 2 bedroom dorma-bungalow next door! We have fields on all other sides.

Not really a good comparison as it is 25 years older, on a plot 2/3 the size and very small; the kitchen, living and dining rooms would fit in our living room! Also, it's very dated as it was owned by an elderley couple who had spent nothing on it for years. They had nice neighbours though. :rolleyes:

Very little around here to compare to I'm afraid but thanks for looking. Julian.

going2die_rich

Your house not selling is most likely due to the fact that your house is in the wrong price band. As your house is around £250k it faces a 3% stamp duty if sold for £250k+. Even selling it below 250k doesn't solve the problem of stamp duty even though it would only be a 1% stamp duty. Because when the person who buys it comes to sell it, it will be in the higher stamp duty bracket. Therefore negate some of the growth in property value. So it doesn't make it such a great investment.

I don't think you can do much to make it appeal much more unless you reduce the price further or offer to pay the stamp duty and hope that the buyers don't realise that in the future they will have the same problems selling as you are having.

I think buyers in general are being cautious as interest rates look like they are about to start going up for the coming years therefore making people question whether they can afford such properties.

courtjester

>>>...the only other interest I have had is from .....<<<

You are not talking about interest from buyers, merely interest from companies wanting to get you on their books. This generally suggests that they don't have much property and want to expand their database - not in your interests, but in theirs - normally a trick that start ups pull who can't actually offer you much in the way of real exposure to the market.

It may be free, but that's why its free - the old story of you get what you pay for. You wouldn't expect the better companies to approach you offering their service for free.

As far as Netmovers are concerned I would avoid - they are a very pushy mortgage company with some highly dubious sales tactics.

netwalk

courtjester wrote:

You are not talking about interest from buyers, merely interest from companies wanting to get you on their books.
As far as Netmovers are concerned I would avoid - they are a very pushy mortgage company with some highly dubious sales tactics.

Hi, the point I was making was how slow the market is; the only people calling are sellers! I also got that impression about Netmovers but couldn't find much about them on the Internet. Their portfolio of properties online is also poor, I'd love to see figures to back up their 5-6 week claim! Thanks.

CB1979_2

personally would shove it on with a new EAs doesn't matter if they're located near each other.

get them round to take photos, etc and advertise it as "new in" may generate new interest.

but yeah just ensure it stays on rightmove/findaproperty, etc in case for people relocating to an area they don't really know (i've never heard of Nottingham property services for example, but rightmove, etc yep definately have!)

musey

Why not offer it and say vendor will pay stamp duty? It might save dropping it to £240K and accepting £235K.....just an idea