How to be more proactive?

fannyanna

I would also say your problem is the price.

I am in a very similar situation to you - bought one bedroom flat in 2007 and now trying to sell. We'll probably need to find money to clear our mortgage as house prices have dropped so much (and we've renovated the property).

You really need to have a long hard think about your properties price - and don't listen to what your Estate Agent has said in relation to price. You need to do your own research.

Also don't rely on what similar properties are priced at. You need to look at prices properties are selling for and not what they're being marketed at.

EDIT - I'd posted before seeing your post above so perhaps my comments are now not as relevant.

Good luck!

googler

Just because the surveyor puts £X in the Home Report, doesn't necessarily mean that the buying public are willing or able to pay £X ....

However, at time of purchase, your flat appeared to be the least expensive in the development, and along with the one at No.14, is the least expensive in the development now (of those listed on ESPC, at least).

Mazzawa

Yep which is what we hoped would give us the edge, being the cheapest! Do you think fixed priced attracts more buyers or shows desperation? Obviously a price change would result in a mailshot from all the property portals, but would a change from OA to FP make a difference?

ILW

Where have average property prices gone since 2007 in the area?


Up, down or stayed the same?

Mazzawa

Prices, in this development at least, have stayed the same by the looks if it, perhaps only dropped 1 or 2% at most, but I'm no expert!

googler

I can tell there's traditional tenements in the street as well - which of the street numbers are part of your development?

Jonesya

Moglet wrote: »

One thing that does jump out at me is the council tax band...D?!?

Yeah seems very high for a one bed flat.

Mazzawa

@googler: number 11 - 15 only. Any other numbers are tenements or new build.

Just checked the council tax band on this site and apparently it is correct as council tax is based on value rather than property size (which I've never understood...).

googler

So, looking at the only one which sold in 2010 and which has comparable prices since 2006 or so ;

24th Sep 2010 12f4 £187,119
12th Dec 2007 12f4 £194,000
9th Jun 2006 12f4 £189,950 - Fairly constant

One which sold in 2009, for not much less than they paid in 2006;

5th Nov 2009 15f8 £185,000
16th Nov 2006 15f8 £187,000

Mazzawa

That's a good sign! Flat 12 4 that you mention that sold last year is a 2 bed flat of similar design to our one bed and I remember it only took about 8 weeks to sell but then again that was a far easier flat to sell being a 2 bed. Now to graft a second bedroom onto our flat...