Problems selling our apartment

Gorgeous_George

You do not get the deposit paid and you do not buy at a discount.

You pay as much as the seller can get you to pay. Anybody would get the same deal. The developers are not your friends.

They want to maximise their profits (i.e., your losses). That is why they build 6 or 8 flats on the space that used to be occupied by two modest semis.

Beware of the smiling assassin.



GG

JennyW_2

I know you've already received lots of posts but here are my comments for what they're worth...

In general the pictures are very dark and uninspiring.

Your living room could do with some sheer nets over the windows. You need to distract from those views. Also throw down some colourful cushions on your sofas Half the battle is getting them through the door and your current pictures aren't going to do this

Bathroom - bad picture, just looks like a picture of a bath panel.
Pics 2 and 8 - not sure why these are here? They don't show the viewer anything about the room (and I'm not sure what room they are showing me)

Kitchen - I would try taking the picture from another angle. Your kitchen looks very "empty" and a bit too neutral. Perhaps display fruit and flowers?

I know you have kept the colours neutral which is a good thing , but you need to throw in some splashes of colour here and there with curtains, cushions, accessories etc.

Everything will sell, but at the right price and the right price to your buyers may have to be lower.

When we sold we moved alot of stuff out, even to the point of loading up the car when we had viewings. You'd be surprised at the difference it made.

Good luck

Jonbvn

phlash wrote: »

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

I live in Cardiff. Here there is a massive over supply of new flats. Anybody looking to sell or rent their flat here, is really struggling. I would guesstimate that anybody trying to sell a flat here with a 90%+ LTV mortgage may be looking at negative equity (remember that?).

Melissa177

I have to say, I think the flat looks very dull. No furnishings or anything. It looks quite soulless.

Buy some fresh flowers and some cheap cushions colourful cushions from Asda, perhaps some inexpensive pictures, and it will look a lot more inviting! Remember that you're competiting against the current newbuilds.

A lot of developers sell "The Lifestyle" when they are selling newbuilds. So, Battersea Reach near where I live has tons of posters up with pretty twenty-thirty somethings drinking wine in pretty dresses on the balcony, couples eating nice food in a restaurant etc. You need to sell "the lifestyle" a bit.



On the flat debate, there are tons of flats in cities, but I think it's only Manchester & London that are benefitting. Many of the *really* expensive new flats in London overlooking the river are going for less than they were bought new two, three, four years ago. People pay a premium for a new build as everything is shiny and new and ready to move into.

I would be tempted to hang on. Is it possible that you could rent your flat if you're getting 5% deposit paid on the next place (which sounds like a new build also - beware!)? I have no idea what the rental market is like in Liverpool, so it may be a silly idea.

EliteHeat

The reason it is not selling is absolutely nothing to do with the photos, decor or what you have on your walls.

It is overpriced. Surely most people must be aware that:-

1) We are awash with flats in this country now. All of which seem to be executive, exclusive and luxury.

2) You cannot hope to make a profit within a year in a newly built flat. You would be very lucky to get the price that you paid for it.

Dressing a property by strategically placing some dried twigs in the corner of a room only works on television, not in the real world.

Just my opinion

Melissa177

EliteHeat is right.

BUT these sort of things can improve the sale-ability, rather than the price.

phlash

Melissa177 wrote: »

EliteHeat is right.

BUT these sort of things can improve the sale-ability, rather than the price.

aye, couldn't agree more.

Will you lower your asking price as seems to be the early conclusions of this thread?

Vampgirl

As a buyer I'm afraid that I'd want to see something pretty special for 130k when you consider that there are ten 2 bed flats in the same development that are being marketed 5-10k cheaper.

From what I can see from the details, all the properties are pretty similar so I wouldn't even bother viewing the the flats that are more expensive, unless the estate agent leads me to believe that an offer in the region of 120k would be considered.

I'm sorry that's not what you really wanted to hear!

phlash

Vampgirl wrote: »

As a buyer I'm afraid that I'd want to see something pretty special for 130k when you consider that there are ten 2 bed flats in the same development that are being marketed 5-10k cheaper.

From what I can see from the details, all the properties are pretty similar so I wouldn't even bother viewing the the flats that are more expensive, unless the estate agent leads me to believe that an offer in the region of 120k would be considered.

I'm sorry that's not what you really wanted to hear!

The truth sometimes hurts!

worriedfirsttimebuyer

On a bit of an aside, I went through Manchester on the train yesterday and was astounded to see the amount of identikit 'luxury' new-build apartments in the Deansgate/Castlefield area. There are literally blocks as far as the eye could see. Surely there is not that much demand for 1-bedroom city centre living? I was truly amazed.

Bringing the thread back to Liverpool though, I remember when they first redeveloped the Albert Dock about maybe 15 years ago, and every one was like "a flat? on the river? in town? for that price?" and yet they took off massively, and are still extremely popular after all this time.

Anyway sorry, digressed a bit, but yep, gritting your teeth and lowering the price seems your only option...