Any opinions on why my flat isn't selling?

tattyuk75

http://www.rightmove.co.uk/property-for-sale/property-16451070.html?premiumA=true

Hi all,

My flat has been on the market about 6 months and no offers have been forthcoming. In fact, don't even get any viewings nowadays. I know the market is horrendous but I just wanted to see if forum members could let me know if they think the reason it has not sold is because of the flat/decor/photos rather than the market. If so, there are things I would be willing to change obviously to get more interest. I have changed EA once and reduced the price from £114,950 to £100,000 in an effort to sell quickly but it's made no difference to interest. The BBC were round in the summer filming it for To Buy or Not To Buy and the feedback I had from them was very good but....still no sale!

Any advice would be much appreciated!

Thanks

googler

I could take issue with some minor points in the photos, and the repeated shots in the listing, but essentially - at this price level, it's likely to be selling to a first-time buyer, or an older person looking to downsize.

In the FTB category, everyone knows they're finding it difficult to get mortgage finance these days. Look at sold prices in Zoopla - how many properties have SOLD in Coventry, or your local area, in your price range, in the last few months?

tattyuk75

I know about the multiple shots, my EA is a bit too enthusiastic and didn't filter the photos he took I think. Will email him. Not much has sold at all, particularly flats, semis seem to be selling ok but property in my category seems to be going at a very sluggish rate. The people that have viewed have either been investors or first time buyers, so I totally get your point on the difficulties of my flat's 'target audience' having problems getting funding.

pmlindyloo

OK, my two penny worth.

First of all, I think in the main it is lovely so don't take offence at anything I say!

I would agree that there are too many photos - get rid of the repeats.

Personally I would get rid of the 'twirly thing' on the bed.

The lack of room sizes is a big problem for me.

Floor plan would also be very helpful.

Lastly, the emptish room (the 2nd bedroom?) could do with something in it - bed/study furniture - difficult to get an idea of how big it is.

Nit picking really as it would certainly be on my list to view if I was after such a property.

Hope this helps. Good luck!

firstaspect

It looks fine to me. Nice living space, good photos (though yes get rid of the duplicates). All I can think is that that style of property just isn't selling in your area at the moment, you may have to keep at it for the long term or consider reducing if you want to potentially make a quicker sale.

tattyuk75

pmlindyloo - Thanks so much, one of the selling points in my opinion is the size of the bedrooms, as mine were a lot larger than the similar flats I looked at before I bought this, so yes, another thing to mention to EA to add to the RM details. I have now put a single bed and a small table in the second bedroom so will maybe take a photo and ask them to swap it with the empty room shot on RM and......do I really have to get rid of my black feather boa with fairylights in it? Boo!!!! My partner hates them so he'll be pleased! Will make for a less cluttery look so yep, will make the sacrifice, will have to have double amounts of fairylights in our new home when the time comes to make up for it

westv

As has been mentioned, it needs room sizes. OP, I'm surprised you didn't spot that such an important detail was left out?

bimbo84

I would get the room sizes put in the description & move the sideboard out of the hall as it looks a bit cramped. Maybe put it in the spare room. Otherwise it looks nice.

tattyuk75

westv wrote: »

As has been mentioned, it needs room sizes. OP, I'm surprised you didn't spot that such an important detail was left out?

Yes, I am too to be honest as that is the second thing I look for on RM if I like the initial photographs. I'm on the case.

pmlindyloo

Sorry about the demise of the feather boa and fairy lights but needs must! Bed and table - excellent idea - don't forget the table lamp or similar!

poolboy

The flat looks lovely but I don't know your local area.

I'd add the lease years left, service charge & ground rent prices.

Also, to entice an investor, the estimated rent achievable & therefore the yield.

If the yield is less than 5% it will be a ftb not investor.

Ask yr EA how many enquiries he has had & what he did with them.

I email EAs re leases & service charges all the time, I am a cash buyer, but I reckon less than 5% enquiries get responded to.

Look at historic sale prices & if anything has gone to auction, if so, what it went for.

I really don't know what EAs do for their fees.