Waiting For a Buyer! Anyone Want To Join Me?

Kinski

Ooo I'm in, our house has been on the market just over two weeks and viewing is by appointment only. We've had about 8 viewings, one note of interest and they've been back to view it a second time. Had two viewings today and the second couple said they liked it but it that it was a big house, I'm wondering if they actually looked at it on line before they came cause the size and everything is on the sspca.

Daerve

Have our second ever viewing booked for tomorrow so it's time to get cleaning again!

Surrey_EA

Daerve wrote: »

West Midlands in a 2 bed starter home type property. There are loads of these types of houses on the market hence my (what I think is a) competitive price.

I hate to be the one to say it, but one viewing in over three weeks suggests that the property is not as competitively priced as you may think.

Daerve

Surrey_EA wrote: »

I hate to be the one to say it, but one viewing in over three weeks suggests that the property is not as competitively priced as you may think.

Indeed and I have considered this at least once an hour every day since I put the property on the market.

The price we decided to market at is based on what everything else round here is going for. For example there are 2 houses just a few hundred yards away both of which are identical to ours except they have a garage and are in a cul de sac, both of these properties are SSTC for 110k while ours is on for just under 99k. There's another 2 bed round the corner on for offers above 117k. :eek:

Given the lack of viewings the evidence does point towards a too high price but when taken in to context against the competition, I'm satisfied it's not miles off.

I'm also reluctant to drop the price so soon after marketing because it makes us look desperate to sell.

Jhoney_2

SplanK wrote: »

Yep, im in the waiting for a buyer club!


3 bed semi, 1 price 'correction' (read: we were over priced for the first 2 months) and have been on the market since end of Jan. Had 8 viewers but so far 2nd viewings/offers.


Most have decided to go for another house, or said it was too small for them. Awaiting response from 1 couple who viewed yesterday.


Had a couple of other EA's around since instructing, both of which they can see no reason why it wont sell at its current price, or anywhere that we need to improve upon. I think we have just been unlucky, and the immediate competition is has slightly more to offer (either garage, or conservatory).


Annoying when you have found the place you want to buy and hoping that it does not SSTC before we get our chance!


Also annoying is the 3-4hour clean-up to get the house spotless for each viewing!

What general location is it in? I know a few people who will be looking for property soon-ish.

SplanK

Forgot to update....


Had a call from our EA yesterday saying the FTB couple that looked on Saturday really liked the place. They are to have a talk to a mortgage advisor as they have only spoken to their bank, but do have an AIP.


They do want a second viewing (WOHO - will be our first!), but one of the couple's parents are away on holiday for a couple of weeks (boo!) so there could be a delay - hope not as we have already found the house we want to move to and are chomping at the bit to get moving. Oh well, it will happen when it happens!


As for over priced - Initially ours was by around 5k. We decided to stick with it assuming people would see sense and offer appropriately anyway. 5 viewings later, nothing and for almost 4 weeks no further viewings. Asking price reduced by 5k to a more realistic price and within line with other similar properties and we have had 4 more viewings since the reduction. Thankfully I do have in mind the lowest I will take for it if push came to shove and have been using that for buying our next.


Being our first house sale, you just don't realise from a FTB point of view how slow things can go when waiting for that viewer, and even slower for the perfect offer to say yes to! We managed to buy this house we are now trying to sell, from start (first viewing) to completion in 6 weeks and that felt like an age!

james23ee1

Daerve wrote: »

Indeed and I have considered this at least once an hour every day since I put the property on the market.

The price we decided to market at is based on what everything else round here is going for. For example there are 2 houses just a few hundred yards away both of which are identical to ours except they have a garage and are in a cul de sac, both of these properties are SSTC for 110k while ours is on for just under 99k. There's another 2 bed round the corner on for offers above 117k. :eek:

Given the lack of viewings the evidence does point towards a too high price but when taken in to context against the competition, I'm satisfied it's not miles off.

I'm also reluctant to drop the price so soon after marketing because it makes us look desperate to sell.

Sorry, I have been looking on/off for nearly a year and it have seen many overpriced properties sit there and still remain unsold even a year later.

You really need to look at the sold prices, not the selling prices to get a good value.

james23ee1

SplanK wrote: »

Initially ours was by around 5k. We decided to stick with it assuming people would see sense and offer appropriately anyway. 5 viewings later, nothing and for almost 4 weeks no further viewings.

There are motivated and unmotivated sellers - by knowingly over pricing your property (and also you said you don't want to seem desperate) you would not be seen by me to be a motivated seller and I would probably avoid dealing with you.

How are buyers meant to know the difference between someone who overprices their property but are willing to be knocked down and one who is overpricing their property because they have all the time in the world to let it sit there and find a mug.

In my area there are loads that are priced unrealistically and have been for 12 months, I track them so I can see as soon as they get reduced they go within weeks, some have gone within days.

As a buyer I have no desire to waste my time with a seller who is overvaluing their property, unfortunately there are many rich people where I live and this is what happens! They are selling 4 bed detached home as their second houses and investment properties and can afford to wait for a sale, no matter how long that takes.

SplanK

Jhoney wrote: »

What general location is it in? I know a few people who will be looking for property soon-ish.

PR7 area (don't want to post too much as I don't want to essentially stick my address on here, or give exactly what house away in case viewers are looking!)

SplanK

james23ee1 wrote: »

There are motivated and unmotivated sellers - by knowingly over pricing your property (and also you said you don't want to seem desperate) <snip>

Yep, should have done our own research first rather than going with the EA's estimate, then researching later to only realise those that they have compared against offer slightly more (although slightly less in terms of finish...).


I claim FTS naivety!