To those selling in these difficult times Part III. AKA sellers support network!

Tirian

OK, could do with some advice on our place. Been on the market since February, when we put it on at the EA's recommended price of £190k (they are working on a fixed fee rather than percentage, so it didn't seem likely that they would overblow what it was worth).

After little interest we've dropped to offers over £175k, and have changed EA. Had quite a few viewings with both - but no offers. Looking at prices in the area, I think ours is pretty competitive - but the major problem, it seems to me, is the glut of similar size properties (2 bed flats) on the market in the area.

As such, getting seen is clearly one of the main challenges - so we've opted for a premium listing on the property websites. It's got a massive storage cupboard that we actually used as a study - a big attraction over many of the new-build flats where there's nowhere even to stash so much as an ironing board, so I can't see why it's not getting more interest.

You can see it here - any suggestions for how to improve gratefully received!

http://www.rightmove.co.uk/property-for-sale/property-19124349.html?premiumA=true

Squish_21

tyllwyd wrote: »

We are in almost exactly the same situation as you! We're coming off the market at the end September. I don't know if it's the right decision, but I feel that for anyone searching, the house is looking stale and a bit left on the shelf. (My OH doesn't agree with that - he reckons that viewers don't seem to come knowing beforehand how long we've been on the market.) But emotionally, we're fed up with the whole thing, prices are slipping, very few houses are selling, chains are falling through all over the place, and we need to take a break! I'm not sure how long we'll wait, but there is a question mark over the house about the field behind which has planning permission but building has been delayed by a court case. We might wait until all that has been resolved before trying again, which could maybe be a few years.

That is spooky!

Just to make our situations a tad more similar, we also have a housing association trying to build on our residential car park!!

Squish_21

Tirian wrote: »

OK, could do with some advice on our place. Been on the market since February, when we put it on at the EA's recommended price of £190k (they are working on a fixed fee rather than percentage, so it didn't seem likely that they would overblow what it was worth).

After little interest we've dropped to offers over £175k, and have changed EA. Had quite a few viewings with both - but no offers. Looking at prices in the area, I think ours is pretty competitive - but the major problem, it seems to me, is the glut of similar size properties (2 bed flats) on the market in the area.

As such, getting seen is clearly one of the main challenges - so we've opted for a premium listing on the property websites. It's got a massive storage cupboard that we actually used as a study - a big attraction over many of the new-build flats where there's nowhere even to stash so much as an ironing board, so I can't see why it's not getting more interest.

You can see it here - any suggestions for how to improve gratefully received!

http://www.rightmove.co.uk/property-for-sale/property-19124349.html?premiumA=true

Did you only get one estate agent to value it? I'd get a couple more around for their opinion.

The main reason for it not selling might be that it appeals to FTB's (same as my 1 bed flat) and they are just few and far between.

It looks fine inside, all I can think of is...you could try painting the kitchen a neutral colour so buyers have a blank canvas. Maybe a plain cream of light brown rug in the lounge would be better so its less busy.

Things i would personally want to know before viewing are...Is there a management fee? How many years remaining on the lease?

Hope this helps. I know how frustrating waiting to sell is, sometimes there is just nothing you can do.

nickpe

Hi Guys - been browsing the title of this thread and read quite a few posts.....
Im curious to know how many people are considering this........... if you have enough to lay down as a deposit on a new property and you find a property that you like (and because the market is slow you manage to find this property at a bargain price), would you consider renting out your existing property for a couple of years whilst the market picks up?????

GoToGal

OK, I got the ball rolling today!

Estate agent has been round, photos taken, they are doing the viewings as I live in another city now. And, I'm really anxious Not sure how long this is going to take, so fingers crossed and touch wood. Any other luck rituals you'd recommend?

betsie

Really bored with my house sale now. Been on since end June. Had 6 viewers, 2 didn't have their house on the market (EA said they had both sold !!) and the other 4 hadn't sold theirs. All said they liked the house, one said they would make an offer when they sold theirs (I won't hold my breath).
Was so pee'd off saturday EA called at 11am to say viewer coming at 1pm - cleaned whole house in 2 hours (I felt like I had done a marathon). 1.30 EA rings - they had got the wrong day the viewers were coming on Sunday urghhhh!!!!! I hate EA.

Moan over but I just want to move now - its so hard not to get down with the whole selling lark.

tyllwyd

nickpe wrote: »

Hi Guys - been browsing the title of this thread and read quite a few posts.....
Im curious to know how many people are considering this........... if you have enough to lay down as a deposit on a new property and you find a property that you like (and because the market is slow you manage to find this property at a bargain price), would you consider renting out your existing property for a couple of years whilst the market picks up?????

Sorry you've had to wait for a reply - you'd really be better off starting a separate thread so that it doesn't get lost in the middle of this one.

But I think the reply you'll get is that it isn't impossible to do, but it is a risky strategy - you have to take into consideration the responsibilities of being a landlord, the risk of periods with no tenants, and that the market might not move in the way you want it to.

tyllwyd

Well, another weekend with no viewings. After all the talk about price being crucial, we lowered our price about six weeks ago from just above £300K to just below, to tap into the huge additional group of people we were told were only searching up to a maximum budget of £300K. And to be honest I have to say that we've had less interest in the house than before!

devotee

Tirian wrote: »

OK, could do with some advice on our place. Been on the market since February, when we put it on at the EA's recommended price of £190k (they are working on a fixed fee rather than percentage, so it didn't seem likely that they would overblow what it was worth).

After little interest we've dropped to offers over £175k, and have changed EA. Had quite a few viewings with both - but no offers. Looking at prices in the area, I think ours is pretty competitive - but the major problem, it seems to me, is the glut of similar size properties (2 bed flats) on the market in the area.

As such, getting seen is clearly one of the main challenges - so we've opted for a premium listing on the property websites. It's got a massive storage cupboard that we actually used as a study - a big attraction over many of the new-build flats where there's nowhere even to stash so much as an ironing board, so I can't see why it's not getting more interest.

You can see it here - any suggestions for how to improve gratefully received!

http://www.rightmove.co.uk/property-for-sale/property-19124349.html?premiumA=true

The place is nice, but if I were you I'd neutralise the flat a bit and also make sure you put a double bed in the second bedroom, as many buyers will automatically think single bed, single bedroom. If there are loads of 2 bed flats on the market, then make sure your stands out. It could definitely do with better pictures.

vickyj

Defo need a bit more oompf on the pictures. Please dont take the a bad way but the kitchen units are pretty basic so maybe detract from that by making them stand out less. Maybe paint the walls a calmer colour and keep things very neutral.
Good luck x x