Why will my house not sell?

mumm

My house has been on the market since January, with few viewers and only one crazy offer.
It is a well presented family home, 4 beds, 2 baths, a toilet, large dining kitchen, huge drive, back lawned garden.
I am with 3 agents, one has mysteriously stopped their Rightmove link, the other I have a ongoing problem with due to having asked them to change the Bedroom 4 photo since July - I sent it via jpeg, they still won't sort it. Other than that, I feel it is priced well (It was originally valued - by 6 estate agents - at £270K and is now on at £240K). Thinking of instructing a 4th agent now.
Any suggestions? Postcode is B27 7ND.

john_white

Lower the price.

Our house was 'valued' at 300k by 3 agents and 1 at 250k - guess which one was right.

What was the crazy offer?

NyimaR

I'd loose the agents that are messing you around rather than just adding more to the mix personally. When I see a place on the market with multiple agents it puts me off a bit.
But generally there just aren't that many buyers around at the moment. You need to decide whether to reduce the price and possibly get a quicker sale or to hold out for what you feel its worth - which may well be some time coming.

nearlynew

The house is obviously still too expensive.

chewmylegoff

mumm wrote: »

My house has been on the market since January, with few viewers and only one crazy offer.
It is a well presented family home, 4 beds, 2 baths, a toilet, large dining kitchen, huge drive, back lawned garden.
I am with 3 agents, one has mysteriously stopped their Rightmove link, the other I have a ongoing problem with due to having asked them to change the Bedroom 4 photo since July - I sent it via jpeg, they still won't sort it. Other than that, I feel it is priced well (It was originally valued - by 6 estate agents - at £270K and is now on at £240K). Thinking of instructing a 4th agent now.
Any suggestions? Postcode is B27 7ND.

a quick look at previous transactions in your postcode indicates that most semis in your area change hands for much less than £240k - of course i have no idea whether they have e.g. less bedrooms than your house but it does look as if your house would be the second most expensive sale ever in your postcode, which given that prices are now some way off where they were in 2006/7 suggests that it might not be realistically priced.

mumm

Crazy offer was 190k.
our neighbours 3 bed sold for 230k in 2007 - it is a different postcode.
opposite our house are small, 3 bed ex council properties but on this side, it is large edwardian detached and semis.

Squish_21

Do you have a Rightmove link to your house that you'd like to share for feedback?

mark5

To me it looks expensive when compared to the house on for 265 in Hazelwood Rd which would probably not make over 250.

mark5

Squish_21 wrote: »

Do you have a Rightmove link to your house that you'd like to share for feedback?

The OP give the postcode.

michael1234

Hi

I don't know the area, but looking at zoopla I found the following:

1/ there are a mix of terrace and semis on that road and give your has had a loft extension (which looks well utilized to me from the plan)
2/ A terraced number 108 was sold for 175k in July 2009 and another terraced was sold at £210k in 2006.
3/ Zoopla calculates that number 96 is worth 234 - this is based on previous sales and average house prices since then.

SO, adding all this together, it would seem that an asking price of 240k is probably about right meaning you're expecting offers of up to 10% below that (i.e. as low as 116k).
The problem as I see it is that you originally had the house on at 289,950 which is clearly far too high. So since it didn't sell at that price, it means the property has been on the market longer which in turn unfortunately means you will get low offers.

In my view, I would certainly keep no more than one agent and ditch the rest. I would also consider removing it from the market to say a month so that it can appear "fresher" when put back on. I would also consider putting fewer pics on RMV - just put the best rooms.

Good luck anyway.:D Its really tough in the current climate. We've had our house on for a year and only "sold" a month ago. That was when the "cash buyer" got rejected on his first mortgage application.....

Doozergirl

To be blunt, you've been horrendously overpriced. You hit the market at £289,950.

The most expensive house ever to be sold on that entire road - which is massive was £230,000 at the peak of the market and I have a felling that it's the detached house next door to you which would be worth more for being detached but worth less now than it was then. How can your semi be worth more than the detached house next door was 3 years ago? Let alone be worth £60k more?

Detached house number 84 sold for £205k last year. Looks like it might have needed work but wowsers, it's a very pretty number. Why did the same estate agent value your house at so much more?

Was it number 98 or 100 that was on the market with the same agent again? I can't see any record of the sale - did it sell or did they pull it?

We own a 3 bed house less than a mile away from your house and I have a friend on the other side of the Warwick Rd so I do know the area. It's a big house - the frontage belies the actual size of the house. It's top heavy; you have much more upstairs space than down and a small garden so you lose balance (the third storey unfortunately doesn't add much value because the house doesn't look as big as it is from the front so it's borderline overdeveloped ) and you're always going to struggle to get people to come in and see that your house is much bigger than it seems. I would ask the agents to put the square footage in on the front line so people can see the space available.

The fact that you have been on the market for such a long at such a wrong price means that all your initial marketing went to waste and you're possibly still overpriced in my opinion if you're trying to break the ceiling price with a semi?

And lose the numerous estate agents - they have so much competition with each other that I bet they've all lost interest. One agent doing a decent job on your behalf at a sensible price...