Why isnt our house selling? Yes another one :)

shar46y

theGrinch wrote: »

Other houses with 3 beds plus within 1/4 mile include:

http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=9502476
http://www.rightmove.co.uk/property-for-sale/property-18861225.html?premiumA=true
http://www.rightmove.co.uk/property-for-sale/property-19290828.html
http://www.rightmove.co.uk/property-for-sale/property-27736471.html
http://www.rightmove.co.uk/property-for-sale/property-32555624.html?premiumA=true
http://www.rightmove.co.uk/property-for-sale/property-34621997.html
http://www.rightmove.co.uk/property-for-sale/property-19264578.html
http://www.rightmove.co.uk/property-for-sale/property-34000955.html
http://www.rightmove.co.uk/property-for-sale/property-30349492.html

Aren't all those on for less than yours?

And you say those were 'professional' photos???

Anyway, knowing the area well I'm not sure what market you will be aiming at with the pricing and indeed the lovely original features. It does look like a great house but the schools for example aren't very good. Are you looking for Muswell Hill or Ally Pally exiles, and with the falling market those buyers might all be sitting tight and waiting for their preferred area.

Doozergirl

What's the position of the buyers? Your agent needs to be chasing these people, checking whether they are serious buyers or not. And if they are serious buyers, then bothering them until they find somewhere! ANd when they find that somewhere, find out exactly what house and how much in order for you to compare with what they eventually opted for. It helps you know what people are looking for and where yours fits.

As always, you have to look at what is actually selling. If nothing is going and you are still getting viewings, it's a good thing but if the quality of buyers is poor, you may need to rethink price. O/O is aggressive and sometimes appears arrogant unless you genuinely know it's a great price. O/O £480k vs £500k is pretty much the same price IMO. I'd rather go with the £500k and have people think there is leverage. It also helps invite offers - even if they aren't where you want them to be, you can see where people pitch it. The next rightmove bracket is £475k - there is no point moving price at all unless it's into the next bracket IMO.

We've been in a similar place with one house. Dropped the price and the offers dropped accordingly (where's that wall icon) but they were falling through as well with so much time wasted trying to proceed with unproceedables. Seem to have found ourselves at a place where the buyer is clearly comfortable with the price and the dynamic has moved from the EA chasing "buyers" to the EA being chased.

Another house sold to the first viewer on the first day for full asking. Virtually sailed through. Seems to be the way at the moment - you have to get the price right, quickly. Either sell quickly or languish and sell for ultimately less than you might have gotten in that first weekend. Bad time of year in this market too. The traditionally busy times are busier but the quieter times are dead.

EDIT: Some of those houses, in fact, the sold ones are cheaper. And seem to be selling relatively quickly showing where the correct price point might be. I'm not local but some of them are indiscernibly different to yours.

m88

I am sorry to say this is all about price! my tip is to
1.) get a realsitic valuation - not from an estate agent that wants to stroke your ego and get your business
2.) think about investors and find rental value and list ten reasons why it would make a good rental property and run another advert aimed at investors

theGrinch

shar46y wrote: »

Aren't all those on for less than yours?

And you say those were 'professional' photos???

Anyway, knowing the area well I'm not sure what market you will be aiming at with the pricing and indeed the lovely original features. It does look like a great house but the schools for example aren't very good. Are you looking for Muswell Hill or Ally Pally exiles, and with the falling market those buyers might all be sitting tight and waiting for their preferred area.

The two that did second viewings and produced an offer were from couples looking to upsize from flats. Both from the Ally Pally area (2 bed flats).

I know on the bald figures it looks like we are more pricey; I accept that. However our house is approx 1600 sq feet, where as many of the others are between 950-1250 sq ft.

JingleJangle

Who cares about square footage if it presented badly, as yours is? It looks like student digs but is presented with a -premium price tag. I am amazed that you are surprised it hasn't sold. Open your eyes.

Owain_Moneysaver

theGrinch wrote: »

In March, we had three valuations, all of which were £500k, hence the original asking price.

But they aren't offers.

theGrinch wrote: »

The photos were taken in March (the garden is never its best then - though I have cut the grass religiously since). They were taken by a "professional" firm sent by the agent. They spent a few hours shifting furniture, taking pictures and photos down and presenting as they call it! Ah the secret room aka the empty room has a sofa, football table and desk in there usually, but the photographer took them out. The house is really lived in and even at times messy with the kids which is certainly not evident on the photos.

The photos need to be redone then (I mean they need to show the cut grass, not the kids' mess!) Please also move the bin/incinerator from the garden!

I also think the all white decor is very bland. Could you at least paint the lounge walls a light colour, leave the woodwork and cornicing white so it's highlighted, and borrow some furniture from the neighbours for the photo shoot. That would give you one decent room.

The dining room needs to be shown as such with a table that will take at least 6 and preferably 8, given the size of the house.

theGrinch wrote: »

Also they could have done more to capture what features remain. All the original sash windows have been refurbished and there is lovely cornicing, deep ceiling roses to both reception rooms, deep skirting and nine foot ceilings.

I didn't see any of that mentioned on the listing nor highlighted in the photos.

dopester

Last bought for £435,000 in January 2008.

Why isn't your house selling?

The days are mostly over where new buyer pays seller lots of money over what the seller paid between 2007-2009.

That's around an extra £1,285 per month, over 31 months as owner, you want someone to pay you. Nice.

theGrinch

Doozergirl wrote: »

Dropped the price and the offers dropped accordingly (where's that wall icon) but they were falling through as well with so much time wasted trying to proceed with unproceedables. traditionally busy times are busier but the quieter times are dead.

You have hit the current dilemma.

It boils down to where to pitch the price. Reducing it may bring in new buyers but equally you start to lower their price expectations and offers with it. Go too higher and you deter.

The options seem like stay at £500k (based on the three valuations), reduce to £475k, O/O £475k or O/O £450k.

We can pretty much have a second bite in Sept and Oct. Otherwise we will withdraw until the Spring.

Home track is showing prices rose 0.8% for N22 in the last month. Time to sell 5 weeks and 11 viewings on average.

Trying to be objective, I believe £475k about the market value.

Doozergirl

Right. If it's bigger, get it right onto that first line on the front page of Rightmove! I think London is one of those places where EAs use proper floor plans and people understand square footage. Round here, they just look at you blankly.

I think you might need to make it look less like you're just moving through as well. People need to fall in love, so you have to give them something to fall in love with. The kids stuff everywhere seems to do it for people! I retook ours and decided to include DD's room and when I showed friends, sod the German kitchen, that was the one that was getting all the comments!

And people panic wildly about storage, or lack of it. Like they're incapable of engaging brain, finding the nearest Ikea and purchasing a few wardrobes. But you need to do every single job for them and I just know people will be having palpitations because someone in your house is storing books on the floor.

They paid someone to take those pictures though? Someone who doesn't own a decent Wide Angle Lens? I bought my own, fed up of expecting EAs to be able to do a decent job of marketing.

devotee

£475k to list but you might get offers around 450k.
It's a very nice house, but you need to "prettify" it, some nice paintings on the wall, mirrors, flowers, nice bed linen. You are selling a lifestyle. Lots of buyers look for a feel of the house, rather than sq ft, so you need to make sure your house looks loved.