Is this amount of viewings good / bad??

becominganobsessivesaver

Whereabouts in the north east are you? As a recent buyer ans seller highest valuation is definitely not the way to go at the minute (unless you are in one of the few desirable, and imo overpriced, areas). Buyers will not pay more than recent sales, there have been houses hanging around for months and months, we were realistic and took a hit (below the lowest valuation) and sold in 6 weeks, the house we purchased was for sale for over a year, and we paid £20k below asking (they had recently dropped the asking by £15k).

If your agent begins with a P I'd consider looking round for another agent when your time is up with them.

That said the market seems to be moving better than it was last summer, but I think more people are being realistic.

doni

Thanks for your replies - lots of food for thought.

We are in Tyne & Wear and live on a desirable road. It's a little difficult to compare houses as they are all different on this road. It's an Edwardian house with plenty of period features. I've found a similar one sold on our road last year for £275k. We're currently on at £295k. I've also seen another house for sale on our road at the moment which I don't think offers as much - no front garden and one less bedroom.

We are not tied in with either agent.

becominganobsessivesaver

£20k over a recently sold house is pretty high. I would say Jesmond, Gosforth and Tynemouth would generally be the only areas where such a premium over a recently sold house would be likely, maybe pricing at £285k could be more realistic.

As salaries are much lower in the north east, you are looking at a much smaller market than elsewhere in the country. Not being on rightmove is limiting your market even further. I would say the stamp duty threshold could limit you even further as there may be a similar home in a different street where the 3% wouldn't be payable. If you have no tie in I would really recommend going with an agent on rightmove asap.

doni

becominganobsessivesaver wrote: »

£20k over a recently sold house is pretty high. I would say Jesmond, Gosforth and Tynemouth would generally be the only areas where such a premium over a recently sold house would be likely, maybe pricing at £285k could be more realistic.

As salaries are much lower in the north east, you are looking at a much smaller market than elsewhere in the country. Not being on rightmove is limiting your market even further. I would say the stamp duty threshold could limit you even further as there may be a similar home in a different street where the 3% wouldn't be payable. If you have no tie in I would really recommend going with an agent on rightmove asap.

We are on with two agents - one is on rightmove but we've just signed up with them. My gut feel is to drop the price too and I do think there is a much smaller market up here for houses around this kind of price - also noted about the stamp duty - another pain in the A!!

twink22

curedham wrote: »

Agreed, when we were looking this past few months we saw a number of houses before they were up in RightMove. One house didn't make it up to RightMove, it was snapped immediately in just 1 evening.

We've just today seen a house on RM, it was on with the agent from Friday and has sold already but only just gone on Right Move, i'm completely gutted, it looked perfect, and we are registered with the agent it went on with and they didn't tell us.

Davesnave

twink22 wrote: »

We've just today seen a house on RM, it was on with the agent from Friday and has sold already but only just gone on Right Move, i'm completely gutted, it looked perfect, and we are registered with the agent it went on with and they didn't tell us.

If it is truly a perfect property for you, consider making a higher offer than the one held. Understand that you will be starting a bidding war, so have a top price in mind.

While gazumping isn't something I approve of, no one will have spent money yet and the house might not have reached its true market price.

Friends of mine had an agent approach them about a rare property which met their needs. They agreed to purchase at the asking price after a quick viewing. However, the seller was soon approached by another party who offered more.
Eventually, my friends had to make a best and final offer £30k above the price they first agreed to secure the property. Naturally, this didn't please them, but even they admitted the vendor would have been seriously out of pocket, had their 'gentleman's agreement' with the agent gone through.

DRP

becominganobsessivesaver wrote: »

£20k over a recently sold house is pretty high. I would say Jesmond, Gosforth and Tynemouth would generally be the only areas where such a premium over a recently sold house would be likely, maybe pricing at £285k could be more realistic.

As salaries are much lower in the north east, you are looking at a much smaller market than elsewhere in the country. Not being on rightmove is limiting your market even further. I would say the stamp duty threshold could limit you even further as there may be a similar home in a different street where the 3% wouldn't be payable. If you have no tie in I would really recommend going with an agent on rightmove asap.

I wouldn't say this is high at all tbh.

Assuming everything else is equal, we're only talking ~7% higher than the other property's sold price... my first offer would always be 10-15% under the asking...

phoebe1989seb

We've never attracted large numbers of serious viewers when we've sold - mainly due to the unusual nature of the properties we've been selling or the fact they've gone under offer very quickly.

House 1 - a three bed/three reception Victorian terrace (one of only a handful of that design and the only one with certain of those features when built) with masses of restored/original period features - under offer within one day. So only one viewer in total, sold at asking price.

House 2 - detached four bed Victorian house with large garden for a city property - but on a busy junction with no parking so never going to attract the typical family buyers. Four viewers over six months, sold 4% under asking price.

House 3 - detached six bed Victorian, one of only three built to that design, fully restored with most original features intact in a very good area close to great amenities on South Coast - but selling a high-end house at the start of the property crash. Six viewers over eight months, sold at 0.5% under asking price.

House 4 - detached 5 bed original Tudor/later Arts & Crafts additions - but tiny gardens and surrounded by nasty modern bungalows on a popular estate in a less than popular town on East Coast where most buyers were retired down-sizers. Four/five viewers over two weeks, sold 4% under (very realistic, 'cos of implications of stamp duty threshold) asking price.

IMHO it definitely depends on type of property being sold, how sought-after that type of property is and if the local demographic want that type.......

Your house sounds very nice OP, although I'm not familiar with your area at all......but it does strike me that your price needs to be adjusted down........good luck with your sale!

doni

Thank you again for more replies.

I did a search on rightmove for houses the price bracket of 240 - 295 and there are only 13. I think although not much competition, there is also not a huge market for larger houses here.

We will give it another week or so and then think about the price.