Any advice on why house won't sell (inc RM link!)

poppysarah

http://www.houseprices.co.uk/e.php?q=HU9+3NG


I'd say price.

The market is absolutely bobbins though.

pinkteapot

Oops sorry - I missed the measurements.

The bottom line is the other house has larger rooms (lounge and kitchen which are key to young family market) and parking, and is cheaper. Have a look at the pics of their kitchen - it's lovely and can fit a table to eat at. And that's not sold either. It's not as new as yours, and doesn't have the en-suite. But I think if I was looking at these houses I'd view both and the cheaper one would be my favourite going in.

Your bedrooms are good sizes but the master is long and thin which puts some people off. I guess that's also the room with slopey ceilings? Which will make people think it's going to be awkward to furnish. Going on the measurements it's a top heavy house; small living spaces for the number and size of bedrooms. The kitchen size may reduce your market as, TBH, I wouldn't consider a house with a kitchen that small, and I don't even have kids. Someone out there will be happy with it; just might limit your prospective buyers a bit.

Maybe try and get a better picture of the lounge as it looks smaller than 15x12. And have pics of the other bedrooms, not the master. Delete "(no space allocated)" - it's a negative. Rear garden opens onto parking area is ample information at this stage. But at the end of the day it's going to come down to price.

googler

According to Zoopla, nothing on Maybury Road has sold since early 2009, so apparently the public aren't queuing up to live there.

There's two blocks of four like yours, and I get the impression from google street view that your neighbour with the black door is No. 150....? They bought for £118,750 in early 2008, as did you a little earlier.

Sales since then have been 154 (end-terrace?) at £142,500, and 146 and 152 which sold at £124,750 each - was this the developer selling the last two, or were they sold on open market?

If we were to ask you why you think your house should be marketed now at around £4,000 more than you paid for it in late 2007, what would you say to us?

moneyuser

wanttomovehouse wrote: »

Unfortunately we can't change mortgage companies because we can't get a mortgage for that amount any more - So are buyers

Yes, unfortunately it is in Hull, another reason why we want to move!! - Area is key

Unfortunately, I think you have answered your own question.

wanttomovehouse

googler wrote: »

According to Zoopla, nothing on Maybury Road has sold since early 2009, so apparently the public aren't queuing up to live there.

There's two blocks of four like yours, and I get the impression from google street view that your neighbour with the black door is No. 150....? They bought for £118,750 in early 2008, as did you a little earlier.

Sales since then have been 154 (end-terrace?) at £142,500, and 146 and 152 which sold at £124,750 each - was this the developer selling the last two, or were they sold on open market?

If we were to ask you why you think your house should be marketed now at around £4,000 more than you paid for it in late 2007, what would you say to us?

Fair point. We just had several EA round and they all came back with £120k-125k so we went in the middle.

Yes the developer sold the last 2 for £124,750.

Do you think dropping the price to what we paid for it would help then? Or what about offering a cash incentive??

Spongbong

It's quite an ugly house from the outside (in my opinion) so that might put people off.

BitterAndTwisted

Considering in some areas that prices have dropped 20% below peak you might have to shave a huge amount off the current price in order to shift it. This may be very unpalatable indeed unless you have a decent amount of savings tucked away

wanttomovehouse

Ok, so I should ask for better photos, ask for better wording and drop the price, but by how much?

Anything else?

HappyMJ

wanttomovehouse wrote: »

Oh sorry.. its nearly 3 years old and is a 3 storey 3 bed mid town house. We paid £118k for it and mortgage was at 95%. Unfortunately we can't change mortgage companies because we can't get a mortgage for that amount any more but the interest only payments are £500 a month which is over 5% so it feels like we are just throwing money down the drain!!

Whilst it might feel like you are throwing money down the drain £500pcm for a 3 bedroom place is probably what it would cost to rent a similar property.

wanttomovehouse wrote: »

Hi pinkteapot
thanks for your comments. RM does have our room measurements on. Its not pokey. The kitchen is small but the living room is spacious and the 3 bedrooms are a decent size, all doubles and the master bedroom is a really good size and has en suite. I do worry though that the pictures don't do it justice. And also there is no chain as we are renting our next house but the ea hasn't mentioned this. We don't have allocated parking space but there is parking to the front of the house.

I think you may be right about being overpriced but our mortgage is for £113k so we need to be able to cover that and fees.

If you really want to move you must be realistic about it's worth. It is a new build and they depreciate faster than older properties. The room dimensions are not spacious they are on the small side. You bought in the peak of the market in Dec 2007 and prices have fallen since then so you'll have to take the hit.

wanttomovehouse wrote: »

We're on a main road, with a school opposite, not undeveloped land. View is ok, not unsightly.

The view looks OK in google maps. The lorries on the road put me off but it won't put everyone off.

I value it at about £115k. but you may have to accept £110k if you want to move quicker.

To save such a small amount per month I wouldn't sell but I'm not sure what you plans are.

wanttomovehouse

BitterAndTwisted wrote: »

Considering in some areas that prices have dropped 20% below peak you might have to shave a huge amount off the current price in order to shift it. This may be very unpalatable indeed unless you have a decent amount of savings tucked away

According to several EAs our area hasn't been affected as much as some areas as houseprices are pretty cheap here anyway.

PS. No savings