Reason for lack of viewings...

LandyAndy

ReadingTim wrote: »

Unfortunately, it's a 'shameful shoe box home', as recently criticised by the Royal Institute of British Architects, as reported here.

You've done the best you can, but it's a bland little place, on a similarly bland and dismal new-build estate. There's only one outstanding feature - the price:

It's £20k too high

I agree. 36 square metres for £90k. :eek:

bristol_pilot

Too small and overpriced, with a whopping monthly service charge and short lease to boot. And no bath. That service charge could be put towards a mortgage to buy a spacious 2-bed instead. Sorry OP, but I too made the mistake of buying a 1-bed many years ago and when the market falls then rises again most potential buyers can afford something better. You may have to do what I did and offload it to a landlord. In which case it is worth 20 times what it will rent out for (yearly). Get a couple of letting agents to give you an estimate of monthly rental value. Then 240 times that amount is what it will sell for. £45k is my guess.

Spartacus_Mills

If your neighbour is selling for less then why would anyone pay more to buy your small box ?

It is pleasant on the inside, looks awful outside, and is vastly overpriced.

You want a sale, you need to drop the price.

B_Blank

Caveat_Mortgagor wrote: »

Try this link.

http://www.rightmove.co.uk/house-value.html?searchLocation=ME105LG&displayPropertyType=&bedrooms=&radius=0.0&sellersPriceGuide=Update+Resultshttp://

It doesnt help the vendor that there is at least 3 other 1 bed flats on their street with an asking of £60-65k.

OP is wasting their time if they think that hiding the clutter will make a difference.

The other houses all seem to accept that they bought at peak and they wont recover what they paid. OP is alone in wanting all but £3k of what they paid.

I acknowledge they arent all identical, but the OP wants 40% more than some of the other vendors. At the end of the day, they are all 1 bed flats!

In fact the OP (No 18) paid an identical price as no 20 (sale completed on LR within same week). No 20 is up for £76k.

The price is all wrong. Wake up!

Case closed. Its the price.

B_Blank

Corona wrote: »

Your health is worth MUCH MORE than money - I'm sure I don't have to tell you that (and I speak from bitter personal experience).

You're only 30 - lots of people these days aren't buying their first home until much later. You may lose money on the sale of this flat BUT the chances are that, in the future, things will improve and you will have a chance to make money (or maybe not; maybe in the future we'll look at houses as homes and not money making schemes). It's not your fault that house prices have dived - it's the economy. Those who made money out of their houses (and can be very smug about it), were just lucky not skilled.

BUT don't put off having children - we waited too long and weren't able to. Some things you CAN do later (like get back into house ownership) but you CAN'T put off having children.

In your position, I would make it clear, when the lady comes round for a second viewing, that you're willing to take an offer and take what she offers (even a low one) to get the hell out of there; find a place you're happy to rent near work, accept that you're going to spend the next 5-10 years paying off the negative equity and bringing up children. You'll then only be 40. Less than halfway through your life. Don't stress about it.

Get out. Get on with your life.

This is the best advice possible. House prices might go up very slightly but I doubt it. In the next few years your flat is likely to lose value even if house prices went up (which looks unlikely).

So you may find your in more negative equity if you try and hold out for your current asking price. I would just sell and pay off the NE. OF course, I am a bear on house prices so I could be wrong. Up to you at the end of the day.

B_Blank

twirlypinky wrote: »

Trouble is, we've only got £5k in the bank. We need £1800 for the agents and solicitors fees (an all in one deal) another £1k for deposit on a flat and £500 first months rent, plus moving costs, we'll hire a van so around £100 plus any silly fees the landlord will charge us for references and credit checks and being human etc so £200, brings us to £3600, which means we can only afford to knock £1400 off our mortgage figure of £91.5 which brings us to £90,100. The house is already lower than that at £89,995.

We can save about £800pcm at the moment, so if this takes a couple of months to go through then that will help - but we really can't afford to take a low offer until we have more money in the bank.

The mortgage is already interest only - before i met hubby the company he worked for were in financial difficulty and kept on reducing his hours until he was forced to go interest only on the mortgage. Since then he was made redundant, and i moved in able to help pay the bills. He's working fine now - but in the mean time the deal on his mortgage ran out and went back to the base rate. We went in to see the mortgage company to change over to a repayment mortgage and fix the deal. They wouldn't even give us a rate because we're in negative equity and wanted £1500 to add my name to the mortgage!! We declined and left.

Sell it and take out a loan on Zopa or something maybe?