house not selling what can we do?

tea-bag

I am looking to buy in Wales soon and you have a lovely home but for the same price or a few grand more you can get a 3 bed house. I live just outside London where prices are going up unfortunately in Wales prices are going down.

Dinah93

clairelindy wrote: »

do you think its expensive??? does the age devalue a house? ours is only 4 and half years old i didnt relise house age makes them go down in price, what would you say i should price at

A new house is like a new car, as soon as you use it the price takes a hit. The buyer will pay a premium for the warranty, the fact that absolutely nothing will need doing - not a single dent in the wall, mark on the carpet or coat of paint needed, and that they can pick their own kitchen, bathroom and carpets. Unless you're in an area where demand far outstrips supply, or in a rapidly rising market you'd struggle to get close to the price you paid within 10 years. As there appear to be brand new ones of the same house type in the same village I'd happily pay an extra 10% or so to get those new house benefits if my options were the same house type new or used.

jacko74

tea-bag wrote: »

I am looking to buy in Wales soon and you have a lovely home but for the same price or a few grand more you can get a 3 bed house. I live just outside London where prices are going up unfortunately in Wales prices are going down.

Try telling the good folks of Anglesey that prices in Wales are going down, I'm currently looking to buy there at the moment and I'm seeing some insane asking prices and some extremely stubborn and deluded vendors.

As already mentioned earlier in this thread I think a lot of it is down to the incompetent and useless Welsh estate agents... they'll happily tell a vendor their property is worth a million just to get them on their books.

tea-bag

jacko74 wrote: »

Try telling the good folks of Anglesey that prices in Wales are going down, I'm currently looking to buy there at the moment and I'm seeing some insane asking prices and some extremely stubborn and deluded vendors.

As already mentioned earlier in this thread I think a lot of it is down to the incompetent and useless Welsh estate agents... they'll happily tell a vendor their property is worth a million just to get them on their books.

The areas I am looking on zoopla properties are sitting and she reduced by 35%

Davesnave

jacko74 wrote: »

Try telling the good folks of Anglesey that prices in Wales are going down, I'm currently looking to buy there at the moment and I'm seeing some insane asking prices and some extremely stubborn and deluded vendors.

As already mentioned earlier in this thread I think a lot of it is down to the incompetent and useless Welsh estate agents... they'll happily tell a vendor their property is worth a million just to get them on their books.

The reason I'm writing this from Devon is that our quest to buy in Wales during the property crash of 2008/9 came to nothing.

Prices there fell more slowly than everywhere else, probably because their markets are slow anyway. People simply didn't want to believe the gravy train had hit the buffers.

Yes, agents probably played a significant part in that.

Things did change, eventually. I've detailed here at other times how properties we looked at sold for 30% or more below original asking price...but up to 3 years later!

Those were 3 years when we were getting on with our lives.

phoebe1989seb

Lunar_Eclipse wrote: »

^^^ this.

The decision is therefore whether you can make your move work at this sales price, or whether you consider options (eg change agent) in an attempt to sell at a higher price. The chances of this working come down to supply & demand for your type of house though, which I'd say are unlikely.

I say bite the bullet if you can, because rising prices in the future (long term at least), will make the move more difficult as the gap widens (unless you are financially downsizing.)

We just experienced the same thing with a house move at the end of December. The gap between anticipated & actual sales price turned my stomach to the point where we almost didn't move because I knew it was timing. However, in the end we accepted what the market told us was our selling price at the time, removed all emotion from the equation, knuckled down and worked through it, although I appreciate we could (sort of) 'afford it!' It's rare for someone to look back with regrets over something like this when you are "desperate to move", and we haven't for a second.

Whatever happens, good luck! At the moment, I can't face moving ever again!

Same here.....and we've been in similar positions twice

First time we needed to sell for family reasons in an area where our house was large and characterful when the demographic wanted small and modern. Houses - any houses - historically took years to sell there. We cut our losses - having spent £40k+ on renovations that we knew we'd never recoup - and accepted that we'd made a mistake but in order to move on we had to suck it up. It took three months from first advertising our house on RM to completion, which we were overjoyed about

Second time (end of last year) we wanted to move as we hated our location. We'd again spent big (£100k) on taking the house from ruin to show home spec, but knew that to achieve top whack we could have a long wait ahead, so instead priced realistically - this time we were able to allow for a small profit on top of our initial outlay - and we were fortunate to receive an asking-price offer within a few weeks. We know that had we been prepared to hold out we could have achieved a higher price, but instead we're now in a house and location we truly love

I appreciate it's very difficult if you *need* a certain price to enable you to move on, but chances are if you have to lower your sights on your sale price you may be able to pass that down the line to your new purchase......

GL with things anyway OP

notanewuser

tea-bag wrote: »

The areas I am looking on zoopla properties are sitting and she reduced by 35%

:huh: where????!

jacko74

Davesnave wrote: »

The reason I'm writing this from Devon is that our quest to buy in Wales during the property crash of 2008/9 came to nothing.

Prices there fell more slowly than everywhere else, probably because their markets are slow anyway. People simply didn't want to believe the gravy train had hit the buffers.

Yes, agents probably played a significant part in that.

Things did change, eventually. I've detailed here at other times how properties we looked at sold for 30% or more below original asking price...but up to 3 years later!

Those were 3 years when we were getting on with our lives.

The figures you've quoted are exactly what I'm seeing now... houses sat on the market for 2-3 years and only eventually selling for at least 30% below original asking price, so nothing has changed since whenever you were looking at Wales!

There are very, very few genuine sellers who just want a relatively quick and easy sale for a fair market value.

I've bought and sold in various parts of the UK now and can honestly say the people of Anglesey have the most bizarre attitude towards property... I've never seen so many homes that are just left empty and falling into ruin as the owners refuse to live in, sell or rent them out. And I've never seen so many clearly overpriced properties being left on the market for years without any price reductions... in fact in quite a few cases the vendors actually INCREASE the asking price over the time that their property is sat languishing.

Davesnave

jacko74 wrote: »

The figures you've quoted are exactly what I'm seeing now... houses sat on the market for 2-3 years and only eventually selling for at least 30% below original asking price, so nothing has changed since whenever you were looking at Wales!

There are very, very few genuine sellers who just want a relatively quick and easy sale for a fair market value.

When we were there, the 2008 Crash had happened. We'd sold at 16% below original asking in one of the best cities in the country, so we imagined there would be some flexibility in the much worse market over there. Not so.

However, we were flexible, so we looked further afield and soon found someone who needed a cash buyer and a fast move. Job done, and we now own something more resilient to the vagaries of the market.

That said, I love Wales, and I'd consider going there if we needed to downsize. Don't think my OH would though!

Oh, I have to add there's a farmhouse in this village that was allowed to fall down, and the family owns another which is going the same way. That sort of inexplicable behaviour isn't limited to Anglesey!

srcandas

Just a thought, if all Welsh estate agents are c**p then it makes no difference. Not many people are going to say "like wales and the house but the estate agent is naff so let's buy in a different country"

I'm buying in Spain and if you want to see naff agents ..... :rotfl:

But some great advice here on the OPs issue. I can only add two thoughts : while the house looks great borrowing a few plants from neighbours for fotos might help , it looks a bit sterile to me. And perhaps for the front foto, which as others have said is not very flattering, fotos without cars and with your ground defined by plants would be good. And for a viewing do try to have the smell of home made bread or freshly brewed coffee.

But this is tinkering and as others say if you want to sell you must price to sell. But all the very best to you :beer: