House not getting many viewings...issue?

antilles

Hi everyone

I put my house up for sale around 14 weeks ago (first week in June). It had 2 viewings in the first few weeks, then none for a long time.

Another estate agent convinced me to go dual agency with them in beginning of September, they thought the description of the house was poor and a floorplan and some better angled photos would sell it. A month later, I've had just 1 viewing through them, so the promised stampede never happened.

It's on all the main portals (Rightmove, Zoopla) so it's not like it can't be seen.

The house has been renovated completely and the feedback I've had indicate that it's done to a very high standard. However it's not in a desirable area (mainly social housing, only a handful of properties owned) - best house on worst street, if that makes sense?

Both estate agents think the price is OK, but I'm not convinced. It was up for 85K, then reduced to 82.5k, now reduced to 79,995. There is an almost identical property over the road which is up for 80K and it's been sat there for 6 months.

Any thoughts on what the issue could be? I am guessing price here but I've no sure way of telling. I've had no feedback saying that the house is overpriced. But saying that, I've had only 4 viewings in 14 weeks and two of those left no feedback. Not sure if that's good or bad but I suspect it's bad.

Any thoughts? And if did reduce, is it best to reduce in 2.5K increments, or should I just go straight for a 5k cut to 75k? 75K is really as low as I can go without dipping into investments to finance the next house. Saying that, I wan't to be out by Christmas too.

Thanks

Grumpelstiltskin

Link so the good people on here can see your house?

GwylimT

Of those who did leave feedback, what did they say?

Bluebirdman_of_Alcathays

Link please?

antilles

Thanks, wasn't sure I could post links but here you go:

With first Estate Agent:
http://www.rightmove.co.uk/property-for-sale/property-35267226.html

Newer listing with second agent:
http://www.rightmove.co.uk/property-for-sale/property-54520103.html

This is the property over the road I talked about, almost identical except end terrace:
http://www.rightmove.co.uk/property-for-sale/property-49043326.html

Thanks

antilles

On the feedback, both said it was a lovely house, very impressive. One said garden wasn't big enough for them, second said she loved it but was a FTB and looking at other houses, that was about 10 weeks ago and estate agent haven't been able to get hold of her since so I guess she's found something else.

Interestingly, all the people who have viewed the house seem to live outside the area.

Davesnave

It's always price. Presentation matters, but if you want to shift your property quickly, then you simply have to offer better value than that one across the road and any others in the vicinity.

Have you checked sold prices of similar property nearby, rather than the prices quoted on agents' particulars? These will be at least 3 months out of date, but if it's not an area of high demand then that may not matter too much.

You will have people here soon, telling you in fine detail about how the house should be presented, but if it's sound and up-together, none of that will matter to a BTL landlord, who might be your best target market in the circumstances

GwylimT

Its very well presented, I think I would have put the table in the middle of the dining room instead of shoving it in the corner.

The only issue I have looks wise is the third bedroom, I instantly thought that I wouldn't be able to fit a bed and a wardrobe in there, so as a parent it would instantly mean I wouldn't bother viewing. So it may well be worth dressing that room and taking a photo, I once did this using a duvet, cardboard boxes and one of those sheets that covers the bed frame!

antilles

Davesnave wrote: »

It's always price. Presentation matters, but if you want to shift your property quickly, then you simply have to offer better value than that one across the road and any others in the vicinity.

Have you checked sold prices of similar property nearby, rather than the prices quoted on agents' particulars? These will be at least 3 months out of date, but if it's not an area of high demand then that may not matter too much.

You will have people here soon, telling you in fine detail about how the house should be presented, but if it's sound and up-together, none of that will matter to a BTL landlord, who might be your best target market in the circumstances

Thanks, I've been recently thinking on similar lines. The area has very very few sales (none on my road at all) and is dominated by social and rented housing. So target market may very well be BTL landlords, perhaps that's why I'm getting so few viewings.

Doozergirl

It is well presented.

It can only be price. In theory, the end terrace should be worth more than yours so if it's not getting any interest, then that's confirmation that they are both too high. FWIW, I would not be put off by the decor at the other house, so I'd need incentive to choose mid-terrace.

Viewers from out of area means no local knowledge for them and no local interest for you - no actual market?

The neighbours having new external insulation makes it very clear what proportion is social housing.

I think there might be too many photos of the house. I still think price is key but I would tease people rather than make them feel they've already seen all there is to see.

I think £5k is probably necessary as a reduction - people always want to knock money off anyway so I don't think £2.5 will bring a flurry of people tripping over themselves to get there.

fairy_lights

The long thin living room would put me off, with doors at either end it doesn't look like you'd be able to arrange your furniture in any other way and it looks a bit uncomfortable. Is it possible to rearrange the room so it looks more homely?
I agree with the comment about dressing the third bedroom because it looks tiny.