Trying to sell studio flat - only 1 viewing in 2 weeks.

asandwhen

I have a Studio flat that I am trying to sell in Stevenage (Hertfordshire) its been on the market for 2 weeks now with only 1 viewing (waste of time wanted a 1 bed)

Its on for £98500 with a local agent and advertised in local papers and rightmove. This seems about the going price for studios - The decor is good and just cant understand why its not being viewed.

What can I do myself to assist with the sale?

Help would be appreciated.

malko

asandwhen wrote: »

I have a Studio flat that I am trying to sell in Stevenage (Hertfordshire) its been on the market for 2 weeks now with only 1 viewing (waste of time wanted a 1 bed)

Its on for £98500 with a local agent and advertised in local papers and rightmove. This seems about the going price for studios - The decor is good and just cant understand why its not being viewed.

What can I do myself to assist with the sale?

Help would be appreciated.

i didnt have a studio flat but had a really small 1 bed with the kitchen and living space combined a few years ago. Took me 4 months to sell, i only had no more than 8 viewings the whole time and i really struggled to get when i wanted. Small flats are a really bad buy IMO

lypsey

I think this is an indication on how weak the market is. All the vested interest idiots like Rightmove , Halifax etc etc keep saying the market is bouyant but I fear that the market has now turned and will start to fall heavily

People are up to there necks in debt and IR's are rising . This will have massive implications on the housing market

http://money.guardian.co.uk/creditanddebt/debt/story/0,,2065344,00.html

The artricle above makes frightening reading. I predicted that the BTL crowd would bring down the market when they exit the market due to negative yields and falling price compounding the problem. If the article is correct and this many people go bankrupt this will increase the speed of the crash

Having said all that I wish you good luck

prutter

asandwhen wrote: »

I have a Studio flat that I am trying to sell in Stevenage (Hertfordshire) its been on the market for 2 weeks now with only 1 viewing (waste of time wanted a 1 bed)

Its on for £98500 with a local agent and advertised in local papers and rightmove. This seems about the going price for studios - The decor is good and just cant understand why its not being viewed.

What can I do myself to assist with the sale?

Help would be appreciated.

Hi asandwhen,

I'm in stevenage too, and have just sold (almost at exchange) our 1 bed flat.
Which agent are you on with?

We went on with the cheapest we could find, and suffered 2 viewings in 7/8 weeks. Once we changed we had about 10 viewings in 2 weeks and sold with the new agent within the 2 weeks.

asandwhen

prutter will PM you

fififofum

have you done all the "house doctoring" neutral colour scheme, kerb appeal etc etc?

olly300

lypsey wrote: »

I think this is an indication on how weak the market is. All the vested interest idiots like Rightmove , Halifax etc etc keep saying the market is bouyant but I fear that the market has now turned and will start to fall heavily

Nope all it indicates is that the majority of buyers with that EA don't want a studio flat.

If you are trying to buy a 2 bedroom flat/house in most areas of the South East with any EA you will find yourself struggling due to lack of supply and you may have to offer over asking price.

Zammo

If the market has turned as I suspect, then you won't be able to get rid of a studio flat for love nor money. I've looked at a number of small city centre flats over the last month because of work commitments and nearly all are still for sale even though the prices have been reduced by 5-10K.

My advice is to drop the price substantially and get shot of it quick sharp, when the interest rates go up next month it will almost certainly be too late and you'll be stuck with it.

Melissa177

How much is a 1 bed flat in Stevenage? Probably not much more.

If the differential between the two isn't that much, you'll probably find that people prefer to stretch for a 1 bed, rather than a studio.

Plus, Stevenage isn't that nice a place... I have friends who have a 2 bed flat near the station, who are looking to sell shortly. They were telling me that there is a developer looking to buy up flats near the station. PM me if you want more details, and I'll obtain them from my friend.

asandwhen

Stevenage is a lovely place what are you talking about

Seriously though a 1 bed flat in the same building went for £120,000 recently so I believe there is a big enough gap between the 2 - some 2 bed flats go for £150,000 so I dont really think im over priced - The lowest price studio on the market in stevenage is £94950.

I still think there is some room in Stevenage for the market to grow - it is the cheapest place in Hertfordshire to buy and you can be in kings cross in 30 mins by train -

I have hatched a plan now and will let you know how I get on.

Melissa177

Apologies for offending Stevenage - I have only been to near the train station to visit my friend, who informed me that there was no point going into town as it's a ****hole! As she lives there, I took her word for it.