Take Flat Off Market Over Christmas/Winter?

kittykatkat

So not much support for taking it off the market and trying from scratch at a new price?

callmechar

kittykatkat wrote: »

So not much support for taking it off the market and trying from scratch at a new price?

People track the market, I sure do so for me this wouldnt work.

kittykatkat

callmechar wrote: »

People track the market, I sure do so for me this wouldnt work.

But surely people who are serious buyers will have bought by the time we relist anyway? By spring it will mainly be a new market, so its whether we appear new on to them, or as a leftover from last summer?

Annisele

I think the very fact you give us an option to vote "then cut to £129,950 in spring then £124,950 summer" implies that you don't really want to move. You're already planning what your price reduction might be in about 8 months!

I think that the first thing you need to do is decide whether you actually do want to move. If you're not too fussed, then leave the price where it is - it doesn't matter. If you do want to move, then I'd say to lower it now.

If you're prepared to take £125k next summer, I don't quite see why you're not prepared to lower to that price now? You already know that there are people about who think that £121k is a reasonable offer.

Also, remember that if somebody offers you £x less for your house than you want, you can always offer somebody else £x less for their house.

Finally, I reckon that "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." is utterly irrelevant. How much is your asking price compared with the prices that houses like yours are actually selling for?

kittykatkat

Annisele wrote: »

I think the very fact you give us an option to vote "then cut to £129,950 in spring then £124,950 summer" implies that you don't really want to move. You're already planning what your price reduction might be in about 8 months!

I think that the first thing you need to do is decide whether you actually do want to move. If you're not too fussed, then leave the price where it is - it doesn't matter. If you do want to move, then I'd say to lower it now.

If you're prepared to take £125k next summer, I don't quite see why you're not prepared to lower to that price now? You already know that there are people about who think that £121k is a reasonable offer.

Also, remember that if somebody offers you £x less for your house than you want, you can always offer somebody else £x less for their house.

Finally, I reckon that "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." is utterly irrelevant. How much is your asking price compared with the prices that houses like yours are actually selling for?

We do want to move! We just don't NEED to. We might be prepared to accept 125k next summer, but if we could get away with £5k more before then, then why not? We're not in a rush so it's worth a try right? There was someone who thought £129k was a reasonable offer too.

Asking price is the same as the sold price of a nearby, comparable flat in 2009. That wasn't renovated though, and that was sold not asking (asking was a bit higher than ours is). Renovation isn't crucial but it does mean ours includes all the white goods as they're all built in, and that it's well presented in the pics. It's so difficult though as 2 bed flats in this area can range from £110k up to £250k depending on the block and the specific area within the area, if that makes sense.

puddleduck

If you can't afford to sell for less than £125, then putting it on at £125 at any time makes no sense. You are very very unlikely to get an offer over asking price; and fairly unlikely to get the asking price either. Anyone who can afford £125 will happily look at properties with asking prices higher than this.

I'd be interested in what the 30 viewers had to say about the place. What feedback did they give your EA? What was their reason for not viewing again or offering? If the EA can't give you any feedback after 30 viewers, I'd be concerned. Perhaps consider a change of agent alongside the price drop.

I don't think there's any simple answer about taking it off the market over Christmas - we were once looking over the Christmas / New Year period (like many people, that was the easiest time for us to visit new areas and do viewings together as we were off work at the same time anyway), and there was very little choice - anything decent and reasonably priced stood out and seemed to go under offer during that time. It would depend when your EA is open over Christmas though. We found quite a few were shut completely, and if your EA does this, there's little point staying on the market during that time, as no viewings can be booked anyway.

RedfordML

Option 1.

Realistically you will do VERY well to achieve more than £124,999, (stamp duty etc) but with the level
of interest you have had I would be confident that a sale is very achievable!!

Whilst you are there, try and neg a small discount (0.25 etc) with your agent stating that you are considering taking it of the Market etc, possibly to try a new agent however if they are willing to neg a discount then your happy to stay with them, you never know may save a couple of hundred £££?!

kittykatkat

Thanks for the tips and advice. It looks like cut now and leave on over Xmas has won.

callmechar

kittykatkat wrote: »

But surely people who are serious buyers will have bought by the time we relist anyway? By spring it will mainly be a new market, so its whether we appear new on to them, or as a leftover from last summer?

I am a serious buyer, been looking for the past 2/3 months just cannot find what I want

billybear1

callmechar wrote: »

I am a serious buyer, been looking for the past 2/3 months just cannot find what I want

Agreed. We have been looking at places for a while. Still nothing that ticks the boxes in the price range at the moment. Had one bid rejected and don't mind sitting on it. You can be serious and patient, doesn't the saying go "A fool and his money are easily parted!"