Trouble selling..

BigMarv

Sorry...it was offered for the full asking price then

izzybusy23

BigMarv wrote: »

Hi All,

I am trying to sell my house on housenetwork and its been very quiet for me for the past month. Its a 2 bed terraced house on a newish estate:

http://www.rightmove.co.uk/viewdetails-15370759.rsp?pa_n=1&tr_t=buy

I first put the house on the market 2 months ago at £240K and in 2 days I had my first viewing. They loved it...offered full asking price straight away and it all seemed great...until 2 weeks later they decided it was too small (tw*ts). Since then I bumped the price up to £245K and had 2 more viewings. Feedback has been nice house, didn`t like the area so much (the council has been poor at maintaining the area, and we are opposite some council houses...but mostly the estate is privately owned.)

The past month...not a single viewing...anyone have any comments on my advert?

Thanks

Hi there

I know Petersfield quite well as I used to live in Portsmouth and although Petersfield is a nice area, you have got to be joking asking that price surely??

In my honest opinion, outside of london, no two bedroomed property is worth over £200k... thats just beyond ridiculous.

Sorry.

Edited to say 'greedy' springs to mind

BigMarv

Erm,

Izzy - Flats are going for 220K in this estate. So I dont think I am vastly overpriced. Average selling price for a terraced house in this estate is about 230-290K.

Its not that far from Guildford - where the prices are more ridiculous.

I'm getting a lot of negative vibes so far...

lynzpower

Ithink the thing is Marv, no one can fault the pictures and your house itself looks nice, I could move in straight away etc.

Id imagine the house is aimed at "young families" type buyer, so Id get a picture of the garden in there. Many people assume that new builds have capr gardens so having a pic of a nicely presented garden ( i know not easy in this weather) might help.

help us out here. Your particulars say built in 2006. If your house wasnt finished in 06, I suggest you change this to 05 if thats when you moved in. Otherwise you can be sued for misdescriptions, given the fact that HN dont write particulars you do.

If all these "other" places are selling at other prices and you are convinced your price is correct for what todays market will bear, then good luck to you.

I know HN dont do the viewings, so theres little "mysery shopping" that can be done to them.

The only other suggestion of course is that you go with one of the other agetns you had round, and drive down thier fees as hard as you can to 1% or less, and hope that the shop window/ database activity works. Of course HN have neither but use RM as its marketing tool. You of course will pay more for this, and you might want to weigh up whether its in fact cheaper to drop your price now and use HN and hope for a quick sale, or go with a local agent and hope thier database throws up someone looking to spend that sort of money.

IM struggling to see what other advice I can offer though.

BigMarv

Lynz,

Thanks for your help.

The house was completed being built in Feb 2006. Although the process of buying started in Spet 2005.

I think with the recent IR rises, its suddenly harder to sell. I will add a garden picture if I can. I'm also considering going with a local EA, I might give it a few more weeks yet (or maybe both a local EA and HN).

ixwood

Drop the price ASAP and cross your fingers for a quick sale, before the next rise.

littlesos

BigMarv wrote: »

Hi All,

I am trying to sell my house on housenetwork and its been very quiet for me for the past month. Its a 2 bed terraced house on a newish estate:

http://www.rightmove.co.uk/viewdetails-15370759.rsp?pa_n=1&tr_t=buy

I first put the house on the market 2 months ago at £240K and in 2 days I had my first viewing. They loved it...offered full asking price straight away and it all seemed great...until 2 weeks later they decided it was too small (tw*ts). Since then I bumped the price up to £245K and had 2 more viewings. Feedback has been nice house, didn`t like the area so much (the council has been poor at maintaining the area, and we are opposite some council houses...but mostly the estate is privately owned.)

The past month...not a single viewing...anyone have any comments on my advert?

Thanks

Wow, I've just sold my large 3-bed detached house for £186k, I know I live in the Midlands, but I can't believe anyone would pay £245 for 2 beds and 1 reception room. My current house is a large bungalow with 4 huge bedrooms and a massive garden and that didn't cost massively more than £245.

Like others I don't understand why you put the price up, OK someone offered asking price, then after checking out the rest of the market decided yours was over-priced (too small = too expensive) and they pulled out. What on earth made you think your house is now worth more?

Merton

Drop the price. You're asking nearly a quarter of a million for an unexceptional house in a falling market. Drop it now or chase the market down.

Merton

BigMarv wrote: »

Lynz,

Thanks for your help.

The house was completed being built in Feb 2006. Although the process of buying started in Spet 2005.

I think with the recent IR rises, its suddenly harder to sell. I will add a garden picture if I can. I'm also considering going with a local EA, I might give it a few more weeks yet (or maybe both a local EA and HN).

It's not interest rates that make houses hard to sell, it's the price!

nobblyned

BigMarv wrote: »

Cheers Lynz. I got my valuations from 3 local estate agents (which were 225K,230K and 235K). Bear in mind houses sold in my area recently for 240K,240K,and 250K.

Yes I probably was greedy putting the price up. This was before the last rate rise tho

Not sure why you are surprised it won't sell when you are 10k over the highest EA's estimate. If houses had sold recently at 240, 240 and 250 surely at least 1 EA would have recommended this amount. They're not exactly known for being bearish in their predictions, especially when trying to win business from a potential vendor.

My guess is you are simply overpriced.