House won't sell, aaaaagh!!!!!!!!!!!

MoneySaverLog

In this area it has been though, if you paid £100K for it initially

http://www.zoopla.co.uk/house-prices/wednesbury/bradshaw-avenue/ws10-8qa/

http://www.mouseprice.com/house-prices/ws10+8qa

Itismehonest

GDB2222 wrote: »

This is quite an eye-opener. http://www.checkmyarea.com/WS108QA.htm

Is your area really like that?

Interesting site, I never knew it existed. I'd be wary, though. The description for my area is so far out it's almost laughable.
For instance......
Housing Type Properties are mainly mixed housing and are mortgaged, council houses, housing association or privately rented. The typical property price is low. The properties are average in size and are located in a mixture of different types of area. People will typically have lived here between 0 and 10 years.

In real life there are no council or housing association houses at all. There is one cottage (owned by the National Trust) with rental of over £700 per month. Other than that there are 3 large houses (5bed +) each with a few acres of land, 2 working farms, & a few cottages ranging from 2-4 bedrooms. It's extremely rural & the majority of residents have been here for more than 20 years.

Then we have "Residents" which among other things says "The population density at this postcode is approximately 12% higher than the national average."
A quick calculation shows that (the parish acreage divided by the population) gives 37.4 acres per person. :rotfl:

Back on topic, though.
If you don't have to sell, OP, then don't. In the current market there's no way you can really even hope to break even if you only bought in 2009

MoneySaverLog

That site has our area spot on, but then again it is not the best of areas.

HAMISH_MCTAVISH

zappahey wrote: »

The OP doesn't say when in 2009 they bought but, according to the Land Reg, that area has dropped by between 5-10% since 2009.

Indeed.

Land Registry for the Walsall area shows a low for 2009 at 186 on the index, versus 182 on the index today, but I suspect local variances would be greater.

5% to 10% depending on local area seems about right.

Bogof_Babe

That kitchen doesn't look like a "dining kitchen". Need another photo showing the dining area, if there is one! Or make a dedicated dining area somewhere in the living room. Only needs a small table and a couple of chairs to give the impression. At the moment it looks like you'd have to eat off your lap.

mommy2princess

I agree, the estate agent completely ignored the dining end and didn't photograph it! It is actually quite big (obv wider than the kitchen bit) and has always had a table & chairs there very comfortably! The people who viewed us said that the photos suck because the house is much bigger than the photos would have you believe!

My brother-in-law has done some more photos for us which we are getting the EA to put up instead!

There is a mistake on both zoopla and mouseprice - number 9 (75k) is actually a semi, not terrace.

Will the surveyors know which houses were repos? What if there haven't been many sales since 09? Number 10 sold for 100k in late 09 (we bought ours in march 09) and since then theres been 1 sale (the repo)

pinkshoes

There are 15 other 3 bed semis or terraces within 1/2 a mile that are cheaper, so that's a lot of properties to look at before people are going to look at yours.

Photo 1 - it looks a bit gloomy and concretey! Could you not take the photo when the sky is blue, and perhaps put some sort of plant out the front, just to break up the concrete?

Photo 3 - can you de-clutter the kitchen a little more for the photo, as it's a rather "busy" coloured kitchen, so makes it look small. Remove the teatowel and as much as you can off the surfaces.

Photo 4 - towel on the side in the bathroom means there's no where to hang a towel!

Photo 5 - looks like a big garden, but photo too blurred and rather gloomy.

Photo 8 - what is this room? It looks cluttered and without purpose.

I'd price it at "offers in excess of £99,950" and hopefully you'll get a few more viewings. You don't HAVE to accept an offer that you deem too low, but ANY offer at the moment might be a good starting point.

Frogfish

Anyone doing a bit research will be able to see that only a couple of houses on your street sold in the last few years for over £100,000 - and that near the peak. Anyone using Property Bee will be able to see that you put your house on the market for almost £125,000 a year ago and probably think this was taking the mick somewhat.

If the house has sat on the market for over a year, it tells a prospective buyer searching online that either there is something fundamentally wrong with it, or it's too expensive.

The pictures aren't great, which doesn't help. An overpriced house, been on the market a while, pictures that don't show the house in the best light but haven't been changed... None of this says "motivated seller" and will probably put keen house buyers off you.

If you want £100,000, drop the price to offers in the region of £100,000, at least then you might look like someone who wants to sell, and not someone holding out for a profit they're unlikely to get.

mommy2princess

I agree the photos are abismal - we are getting new ones put up of all rooms.

Photo 1 - we now have plant pots and a colourful hanging basket out, this was done after the original photos as the photos were done in december time.

I agree with the decluttering of the kitchen, we're also adding a photo of the dining area.

Photo 4 - didn't think about the towel!

Photo 5 - it is a MASSIVE garden and was landscaped after the photo taken, we now have new photos going up

Photo 8 - this is the 3rd bedroom, quite a bit bigger than a box room but it is still the smallest bedroom. We don't need it as a bedroom so it's been our office/storage room. We've since de-cluttered it by loads and done a new photo

What worries me is that 100k is our bare minimum selling price, so if I reduce to offers over 99,950 - won't buyers think I'm really after 85-90k?

Strapped

mommy2princess wrote: »

I agree the photos are abismal - we are getting new ones put up of all rooms.

Photo 1 - we now have plant pots and a colourful hanging basket out, this was done after the original photos as the photos were done in december time.

I agree with the decluttering of the kitchen, we're also adding a photo of the dining area.

Photo 4 - didn't think about the towel!

Photo 5 - it is a MASSIVE garden and was landscaped after the photo taken, we now have new photos going up

Photo 8 - this is the 3rd bedroom, quite a bit bigger than a box room but it is still the smallest bedroom. We don't need it as a bedroom so it's been our office/storage room. We've since de-cluttered it by loads and done a new photo

What worries me is that 100k is our bare minimum selling price, so if I reduce to offers over 99,950 - won't buyers think I'm really after 85-90k?

You're not going to get £100k.