Take Flat Off Market Over Christmas/Winter?

kittykatkat

We've been trying to sell our flat since the summer and it's not sold yet. We've had about 30 viewings and 2 offers from 2 different people. One offer was £121k and one was £129k. We rejected the £121k offer as it was early on and thought they'd come back higher but never did. We accepted the £129k offer, left it on the market, but they pulled out when they couldn't sell their property. Asking price is £132k. This is about the average asking price for the size/type of property currently on the market in our area, although our property is fully refurbished as new.

So anyway here we are coming up to Xmas now and the viewings have dried up. Our position is we want to move, but don't strictly NEED to move. We are going to cut the price to drum up more interest but not sure the best way. I think we have these options based on what we'd want to get in price and timescale-wise:

1) Cut asking price to £129,950 immediately, and then down to £124,950 in mid spring if still no sale

2) Keep asking price as is until early spring, then cut to £129,950, and then down to £124,950 if not sold by early summer

3) Take flat off market and re-list with the same agent in early spring at £129,950, then down to £124,950 if not sold by summer

4) Take flat off market and re-list with a different agent in early spring at £129,950, then down to £124,950 if not sold by summer


We have mixed views about taking it off, because we might miss "the one". But also, our pictures show nice green trees and blue skies, so obvious it's been on the shelf a while now, and we did get more interest when it was new on, so perhaps we could recreate that by relisting after a few months off? Lowest we would go to is c£125k before it's questionable whether moving is worth it!


:beer:

ognum

Wow 30 viwings and its not sold the answer must be in the price! My thoughts would be that the people who offered £129K had unrealistic ideas on the current value of property especially as they couldnt sell theres presumably priced to high!

I would go onto rightmove look at the price of flats similar to your number of bedroons/balcony/garage/etc and then look at the price of those that are under offer Re evaluate your flat and price it within the bottom 10% of the flats available! You are much more likely to sell

I am currently selling a flat in a town in the south I hope to exchange in the next two weeks (but who knows) I priced this flat right at the low end of the properties on rightmove and accepted an offer within 1% of the asking price within 4 weeks

Price is the what will make it sell either get the right price now or later!

ognum

Do you have a rightmove link please

Thrugelmir

Cut the price now. While property sales fall away during the autumn/winter months. People for all sorts of reasons buy.

Ju&Mel

We just cut ours and sold within 8 days, cut now, otherwise you'll just be chasing the price fall

kittykatkat

So cut price now and not take off market over Xmas then? Are there still enough buyers over Xmas or would we be wasting the price cut and relisting from it? I thought it would have sold by now but I thought 30 viewings meant the price wasn't too bad since they can see that before they decide to turn up, although the market outlook is worse than when we first put it on.:eek:

googler

Are you selling in E&W, or Scotland?

kittykatkat

England. :money:

Eton_Rifle

Thrugelmir wrote: »

Cut the price now. While property sales fall away during the autumn/winter months. People for all sorts of reasons buy.

Speak like Yoda do you.

hcb42

ognum wrote: »

Wow 30 viwings and its not sold the answer must be in the price! My thoughts would be that the people who offered £129K had unrealistic ideas on the current value of property especially as they couldnt sell theres presumably priced to high!

!

not necessarily, there might be a problem which buyers cannot get around in their heads, or which narrows their market.

also i had a lot of viewers on my house, none ready to buy as they had not sold their own, took off market, put on later for a higher price, and sold it within a few days to a delighted couple who have sold their own.

when will people realise that the housing buying and selling market is more than just the price.

ognum

hcb42 wrote: »

not necessarily, there might be a problem which buyers cannot get around in their heads, or which narrows their market.

also i had a lot of viewers on my house, none ready to buy as they had not sold their own, took off market, put on later for a higher price, and sold it within a few days to a delighted couple who have sold their own.

when will people realise that the housing buying and selling market is more than just the price.

Buyers can usually get around most problems if the price is fixed right!

Yes you are right you found the one viewer you needed who bought your property but you did not have 30 viewings to do it we all just need one good offer BUT price at the moment is often the key factor as to whether you sell or not