Problems selling our apartment

floyd

Hey Kate,
Me and my fella live less than a mile from where you do so we know the area very very well.
The primary problem is that I think your property falls between 2 categories, anyone looking to live specifically in an apartment can get one on the end of Mariners Wharf nearer the city for around the same amount and you aren't helped by the new Redrow development in Cressington. Plus, young families look more towards the semis of the Garston/Allerton border where you can pick up an average 3 bed house for around £130K.
I think your best bet is to target it, as others have suggested by making it as minimalist as possible and block out the fact that it is overlooked.
Garston is a tough one, alot of people are snobs and put off by district, I noticed that the Cressington apartments were originally marketed by postcode only, no area, just as alot of the Toxteth apartments are L8 to avoid the use of the 'T' word! Perhaps ask the estate agents if that would help.

poppy10_2

Our apartment went on market in january and we had three viewings and no offers. It went on for £129950. Then the estate agent advised us to reduce it below stamp duty to 125,000 and we had no viewings at all. Later found out there is no stamp duty in our area so we changed estate agents after numerous issues with them. We are now using a smaller estate agent but its been on with them since just after easter so a couple of months now. We have had numerous valuations done which have come in at around £140k but as its still a relatively new development we put it on 5k lower at £135k

Let me get this straight - it went on the market in Jan for £129k. No viewings. Reduced to £125k. No viewings. So you put the price UP to £135k!

Good luck, sounds like you'll need it.

Melissa177

http://www.propertysnake.co.uk/site/detail/281127

The flat in the link above has been reduced from 125K to 119.5 I notice...

It doesn't appear too dissimilar from yours.

nelly_2

I just used www.propertysnake.co.uk

check this out 5th one down its a 3 bed going for less than you want for a two bed in your post code

mystic_trev

Blame John Prescott

"An acute shortage of houses is driving the boom in the property market while at the same time developers are being forced to build a "tidal wave" of new flats which they are struggling to sell"

http://www.telegraph.co.uk/news/main.jhtml;jsessionid=DGZ2B1Z1MC4GXQFIQMGSFFWAVCBQWIV0?xml=/news/2007/05/29/nhouses29.xml

floyd

nelly wrote: »

I just used www.propertysnake.co.uk

check this out 5th one down its a 3 bed going for less than you want for a two bed in your post code

The reason it is so much cheaper is that it is a stones throw from Stamfordham Drive which is one of the 'less desirable' streets of Allerton :rolleyes:

irnbru_2

JAYJAY33 wrote: »

We actually got the property for £110 as we got 5% paid so we will make at least 5k.

Hmmm, I think that's being called positive.

JAYJAY33 wrote: »

Shoudl have said the house we are wanting is actually priced at £185 but they pay 5% deposit as its off plan

Have you made any commitment towards that house yet?

On at £115K, is it in the same development?

Vickicb

Hi Jay,

I think your flat looks really nice, but I think the pics let it down.

Pic 1 - not very well taken, try and get another one on a sunny day
Pic 2 - I dont' really understand the point of this pic, it's just a doorway and a cluttered one at that (it may not be but from the angle it's taken)
Pic 3 - agree about it looking overlooked, take from another angle
Pic 4 - Nice as it shows the corner aspect and light coming into the room - as you say voiles might help regarding the overlooking
Pic 5 - Nice kitchen - maybe pull the table out, set the table, put flowers on it, etc to show a proper dining area in the pics
Pic 6 - alot of furniture together - i guess necessary for the shape of the room but I would lose at lease one chest of drawers while you're selling, and lose the clutter in the corner.
Pic 7 - makes bathroom look small I'm afraid.
Pic 8 - again, seems a bit of a pointless picture. Try re-taking it, re-arrage the room if you have to.

No offence intended! I think it's a lovely flat but you're up against new builds that have been "dressed" and so you need to really stun them in the pictures to get them through the door. Good Luck!

worriedfirsttimebuyer

Lots of excellent advice in the above post. I also don't get Pics 2 and 8.

phlash

Lower the price. Simple.

Count yourself lucky to get away with making a profit from a flat. With every month that goes by theres more of them being built, devaluing existing flats.

If you hold on too long, you may regret it. Around where I live in Nottingham there is plenty of examples. People with flats 'worth' £130,000 aren't getting a sniff at £120,000. And flats valued at £234,000, now on the market for £199,950. These people are kicking themselves.

EDIT: Check out today's paper to support the content of my post:
http://www.telegraph.co.uk/news/main.jhtml;jsessionid=1K2WIE41VWCMVQFIQMFSFGGAVCBQ0IV0?xml=/news/2007/05/29/nhouses29.xml