Can't sell our house!

barnaby-bear

Becks045 wrote: »

There is no need to be sarcastic, clearly its overpriced and/or the current market conditions aren't helping. Anything will sell for the right price. And afteralll an estate agents valuation means nothing at all if no-one is prepared to pay it!!!

I am realistic and have said to myself that the 4 estate agents that all valued it at £300k plus must have overpriced it. I've looked around hensce why I can see myself its overpriced. Thats why we've reduced it by £30k to £285k. We are now going to offer to pay stamp duty and see how that goes for a few weeks.

Thanks Conrad for such wise words!!!!!!!!!!!!!!!!!!!!!!

I just don't get who or why someone would want a house organised like this and with that price bracket I don't see how the rental yield could be high enough to cover an IO mortgage unless bought a long time ago, a £250k mortgage costs £1400 IO now with little hope of capital appreciation and then you have insurances, running costs, maintenance. I just can't imagine a scenario where I'd be looking for a house with so little garden and an annex with rental level fittings as a home and if I was looking for an investment it's so odd I'd be wary, you're ditching it as the least desirable you have so why would someone take something like that on in a slowing market when everyone cautious.

frannyann

I quite liked the house but like others, you don't notice the annex bit until the end. So first impression is "overpriced". Just my view as someone who has been searching for a house for long, long time (serve me right for being public service worker in the sunny south of england!!)

Becks045

dolce_vita wrote: »

What amuses me about this thread is how someone (in this case the OP) can "accumulate" several properties without the faintest idea of how the market works.

This alone should tell you what a mess we are in.



But that's bubbles for you.

I do know exactly how the market works!!!

Badger_Lady

Conrad wrote:

Oh, perhaps the price is too high? Is that the answer?

I've got a tampon for sale - will you buy it? Only 2p, you can't say fairer than that! Come on, buy it! Exactly what you need, Conrad! Not overpriced, is it? Then why won't you buy it?

charliebird7

Hi, sorry im new to this forum so please bear with me.

I have noticed that your agent has 88 properties for sale but only 6 of those 88 are sold. Does the market seem to be quiet in Margate or do you think it could be the agent.

I work in an estate agents in Medway and to me only to have sold 6 out of 88 seems really bad.

In my opinion that house seems lovely, im not too sure on the price so I cant comment on that.

How long have you been on the market for now?


Charlotte

Becks045

charliebird7 wrote: »

Hi, sorry im new to this forum so please bear with me.

I have noticed that your agent has 88 properties for sale but only 6 of those 88 are sold. Does the market seem to be quiet in Margate or do you think it could be the agent.

I work in an estate agents in Medway and to me only to have sold 6 out of 88 seems really bad.

In my opinion that house seems lovely, im not too sure on the price so I cant comment on that.

How long have you been on the market for now?


Charlotte

I think the estate agents are not great but we'e signed a sole agreement so can't do anything for another 8 weeks. They give us no feedback and when I call them they don't return my calls. I even think they made up the fact someone wanted to view and of course the person never turned up and then they said they couldn't get in touch with them and I've never heard back since!!

We've only been on the market for about 7 weeks but expected more than 1 viewing. Its is a different property in the sense that its 2 houses so we have a limited audience but surely more than 1 person?!!!!

Conrad

You say the agent does'nt return your calls, now why do you think that is?

I run my own business and talk to other business owners. We all have this attitude that dictates we spend time on people who are likely to earn us money.

I think you need to be honest with yourself and recognise you almost certinly influenced the agents into testing a higher price. They would have quickly detected from your verbal and body language that you expected a high price.

Imagine you were an agent...... would'nt you want vednors to market for easy to achieve prices? What possible benefit would an agent derive from going to all the trouble of putting over priced property on the market?
In other words the reason it's overpriced is down to you and you alone.

Affable / easy going clients will place the property on the market for the right price. The rest will always epext miracles.

Market conditions are irrelevant. The price is right ONLY when it sells in any given market landscape.

Badger_Lady

Conrad, will you please stop going on about price? The OP has already dropped the price significantly and is clearly more concerned about selling it quickly that achieving an overinflated price.

We are here to talk about marketing a property, and price is not the only factor that will influence interest... did you read my post to you above? The property is unusual, and will only suit a certain kind of buyer. She could be flogging it for 10p, but if no-one wants it, they don't want it.

Please take this kindly but, if you run your own business, you should know something about targeting and segmentation in product promotions. A business (or unique sale) is not guaranteed by "low, low prices!".

Austin_Allegro

Badger_Lady wrote: »

Conrad, will you please stop going on about price? The OP has already dropped the price significantly and is clearly more concerned about selling it quickly that achieving an overinflated price.

We are here to talk about marketing a property, and price is not the only factor that will influence interest... did you read my post to you above? The property is unusual, and will only suit a certain kind of buyer. She could be flogging it for 10p, but if no-one wants it, they don't want it.

Please take this kindly but, if you run your own business, you should know something about targeting and segmentation in product promotions. A business (or unique sale) is not guaranteed by "low, low prices!".

I'd buy it for 10p!
:rotfl:

Becks045

Conrad wrote: »

You say the agent does'nt return your calls, now why do you think that is?

I run my own business and talk to other business owners. We all have this attitude that dictates we spend time on people who are likely to earn us money.

I think you need to be honest with yourself and recognise you almost certinly influenced the agents into testing a higher price. They would have quickly detected from your verbal and body language that you expected a high price.

Imagine you were an agent...... would'nt you want vednors to market for easy to achieve prices? What possible benefit would an agent derive from going to all the trouble of putting over priced property on the market?
In other words the reason it's overpriced is down to you and you alone.

Affable / easy going clients will place the property on the market for the right price. The rest will always epext miracles.

Market conditions are irrelevant. The price is right ONLY when it sells in any given market landscape.

Conrad, have you read my submissions on this subject?! We had 4 different estate agents round and didn't go with the highest price as we felt they'd overpriced it. It was me that contacted the estate agents after 4 weeks to reduce the price by £30k which is a siginifanct drop. They just said 'yeah good idea'. I have told them we will do whatever we need to, in order to sell, and they have said lets wait and see. Their marketing is crap

The estate agents clearly have no clue. I've asked for feedback on whether its too expensive, is the market slow, whats the demand like for such properties, which sorts of people they are targeting and they don't get back to me.

We have now decided to drop a further £10k and pay the purchasers stamp duty costs which we hope may generate some viewings and interest. Is this the sign of someone who doesn't want to drop the price, Conrad?!

I