Am I wasting my time here?

mrs.d_6

DollyDabbler wrote: »

We were in the same situation 20 + years ago, we needed to move, but no-one was buying, so we part exchanged house, we lost a little bit of money, but not the huge amount you would if you went with those two low offers. Are there any new homes for sale by known builders, as they might offer a similar scheme in the area you need to move to?

Oh you just reminded me about that, yes, we looked into that, they were new houses and they said they would part exchange, but it said on their website that the house we get from them had to be more than the house we have, that would make the mortgage on the new place dearer than what we have now.

We couldnt really do that to be honest, thats part of the reason why we are moving because we can no longer afford to live here, the mortgage is too much for us right now.

Jowo_2

mrs.d wrote: »

Well, we got it valued by three different agents and they all came back with pretty much the same price, 2 of them said 139k and the other said 138k.

Sounds similar to a friends experience - 3 estate agents valuing it for around the 230k mark, saying it sell quickly. After 7 months, and a switch to another agent, it went for 190k.

Since you say that other properties are selling for that sum, why is it that you think you are having next to no viewers despite offering it for 15% less?

Is the marketing poor - dull photos, poor description?

Is the house decor and fixtures dated? House cluttered in the photos?

evoke

Put it up for OIEO £99K with a proper estate agent if you need to sell it quickly. Who took the photos? Were they professionally done? Rightmove link?

Your house is worth what someone is prepared to pay for it. It's obviously overpriced at the moment, even if you may think it's worth £139K.

getmore4less

When did the others sell,

You could have a very seasonal area.

Incyder

evoke wrote: »

Put it up for OIEO £99K with a proper estate agent if you need to sell it quickly.

Sadly, today, as it stands OIEO has no meaning and will be ignored by buyers and agents alike. This is wrong obviously but that is how it is at present.
Buyers will see that as an excuse to offer 85k and will (and are allowed to) ignore those letters rendering them valueless/pointless.


EIEIO has more meaning as it is one of the main parts of the nursery rhyme, Old MacDonald Had A Farm, which is often sung by EA's to their children before deducting the appropriate fee from their pocket money.

evoke

^ Agreed, but it will fall into more searches. And it's still more than what the dodgy we-buy-any-house companies are going to offer. I know that OIEO is meaningless - my own EA used this tactic on my property simply to enable my property to end up in more search results. £100K is a significant price-break.

satchmeister

mrstinchcombe wrote: »

Well I guess it just isnt worth £139k then

But the EA said it is worth 139k and they have the contract to sell it. However the people who really matter ie buyers do not even consider it worth viewing. Buyers will also look at the price the current owners paid and do the maths. If the price is not 2007 -15% then people will not view. The deluded are still thinking 'I bought in 2007 now add 5% for each year to get the current price'.

C_Mababejive

Post link and the MSE community will value it for you.

It will be more impartial and honest than the multitudes of bent EAs out there.

poppy10_2

If nobody is even bothering to look at it, then the price is too high. The house isn't worth what you think it is worth. There's a happy medium between the 40k the vulture 'quick sale' company was willing to give you for it, and the 139k you want.

eamon

A lot depends on location related to similarly priced properties. Any property valued between £95k & £130k (outside of the SE) is falling at the top end of the range for 1st timers on the reported average salary of <£25k.
This is a very imperfect market. Many of your target audience are experiencing pay cuts, redundancies and it is a good few decades since obtaining a mortgage was so difficult. You could probably do everything recommended by EA's and MSE'rs and still find prospective purchasers scarce. There isn't that many out there.
In end you may be better suited in identifying a means of staying put and waiting until markets conditions improve.