EA suggests dropping price, what to do?

skaye

tyllwyd - I really want to move but obviously want to get a good price to enable me to move on...

This is the dilemma - do I make it more competitive in the hope that it shifts quicker or wait it out? I am under no illusion that I will get the asking price so therefore does it make more sense to drop the price? Or as pjd suggests nag the EA more? (two phone calls today to tell the market is slow!)

S

puddy

i prefer yours to the ones on stone road, but i didnt look at room sizes only the pictures

skaye

thank you Puddy - that reassures me a bit! x

GAH

http://www.rightmove.co.uk/property-for-sale/property-19603746.html

http://www.rightmove.co.uk/property-for-sale/property-19044702.html


I dont know your area, but looking at similar others, think your price needs to be a little more competitive.

Your Agent is marketing the above 3 bedrooms for just £7k more than yours. If I was searching, i would pay £7k for an extra bedroom.

googler

GAH wrote: »

Your Agent is marketing the above 3 bedrooms for just £7k more than yours. If I was searching, i would pay £7k for an extra bedroom.

One of the 3-beds has a garage as well as the extra bedroom for that £7k more....

dawyldthing

it does seem a lot and its a buyers market out there. The photos i think make the rooms look small to be honest and the garden looks to me like it would be hard work to maintain.

hazyjo

What's your situation? Have you found somewhere to go, or are you not buying? If there's lots on the market you'd be interested in, I'd consider taking a lower offer, but not sure about dropping such a small amount. If there's nowt, I'd let it sit there for a while longer at the price you're on at. No point in taking a low offer if you're then going to be searching for a month or so. Don't find something and set your heart on it without selling yours, but definitely be aware of what's on the market, at what price.

I took quite a knock on my last sale, but only because we'd found such a fab house and dropped that price down. I probably wouldn't have taken an offer as low as I did if we'd not seen somewhere to go. Once you drop your price, you can't really go back up. I don't really see what difference £5k will make off the asking price. I suppose if it's then cheaper than smaller/terraced places, it might result in more than one interested party. Still can't believe that for £5k more, they'd not just knock the price down anyway rather than think it was out of their price bracket...

Jx

skaye

thank you all for the advice - I genuinely appreciate it especially as it is a difficult decision. I completely take on board your points googler and gah - the market in this area is slightly bonkers as 3 beds also go for as much as £210,000! There are not that many two bed semis in the area and although the garden might be difficult to maintain it does have a good size garden compared to some and it is not overlooked or in the middle of an estate as the others are.

Anyway I think I may drop the price and hazyjo it is because I have seen something I like and don't want to miss out on it as another I had my eye on has gone in the time I have been on the market. I also agree that I am surprised that people haven't looked and then made an offer - I am not put off by prices that are £5 to £10k out of reach?! I think the £5k makes a bigger difference to me than a buyer.

thank you all again

Sx

The_Palmist

For a quick sell, this probably needs to go down by £10K. There are other similar if not better properties in your area. As a buyer, I would try and use this to my advantage. End of the day its all about saving money.
If you not comfortable, you can ask your agents to advertise as "offers in region of" and see if you get any offers. It will give you some idea of how much people willing to pay for your house.

sonastin

Don't forget you've got a stamp duty threshold at £125k. Unless you're selling to a FTB, get too close to £125k and that is all that you will be offered. There could well be more people searching to £135k than to £140k but only because they are willing to pay £125k and they don't believe anyone will take an offer of £15k below at that price. But if you're wanting more than that, there's no point in trying to attract those buyers anyway.