Why is it so hard to sell a 3 bed semi in Leeds?

FBaby

This is not the same really. It is an end of terrace in a not very nice location, with the only parking space in the back garden. It has a lot of negatives that no amount of sorting out the interior will help.

The issue is the same, ie. not selling because of the decoration and buyers considering that the cost of redecorating is putting them off buying at the asking price. In my case, by putting in the cost of the decoration, we not only sold but even made a bigger profit.

Crashy_Time

FBaby wrote: »

The issue is the same, ie. not selling because of the decoration and buyers considering that the cost of redecorating is putting them off buying at the asking price. In my case, by putting in the cost of the decoration, we not only sold but even made a bigger profit.

Sentiment has shifted since you made that sale though?

seven-day-weekend

We bought an old-fashioned bungalow but didn't pay asking price for it.

Crashy_Time

seven-day-weekend wrote: »

We bought an old-fashioned bungalow but didn't pay asking price for it.

Did you pay 20% over like GlasgowDan? :rotfl:

FBaby

Crashy_Time wrote: »

Sentiment has shifted since you made that sale though?

The issue wasn't sentiment, it was taking the risk of taking on a loan to pay for the redecorating. After it failed to sell at the asking price, we decided to go ahead with the advice of those who told us to redecorate before selling. They were right.

Crashy_Time

FBaby wrote: »

The issue wasn't sentiment, it was taking the risk of taking on a loan to pay for the redecorating. After it failed to sell at the asking price, we decided to go ahead with the advice of those who told us to redecorate before selling. They were right.

I am guessing that this was during a time when buyer sentiment was more positive, or perhaps "manic" is a better word? Did you add the price of the re-decorating to the asking price?

silvercar

Big difference between putting up with someone's taste, that you can live with until you can afford to sort, and living with very out of date styling that will cost a lot to put right.

In my mind an avocado suite falls in the latter camp.

savingmore

This is an interesting thread, and whilst i won't repeat all the advice given - i would like to make a few comments.

I have also had to deal with my dad's property after he died, and had to make a lot of changes to sell it. Yes it can feel like a 'betrayal' changing the style and updating, but i am sure your dad wouldn't want you to be anxious and worrying. i was also an estate agent for 8 years in a high functioning and popular small agency, who worked hard for our clients and gave pragmatic and realistic advice. This meant we didn't get every house we valued, as we were not prepared to give an 'over the market' valuation just to get a house listing.

I would like to address my points to the effectiveness (or not) of your agents. They can suggest whatever price they want and often people appoint the agent who suggested the highest price (as others have suggested). However, this is not helpful and in the end is counter-productive if you don't get to sell the house. You end up with false expectations and the agents don't get a sale. They are meant to be working for YOU and not the purchaser as they are paid by you, but obviously get nothing if the house doesn't sell.

If i had a house that hadn't sold in a month, i would go back and go over with the sellers the feedback given by prospective purchasers and a realistic list of things to do to get the house moving (which we gave at the beginning but wasn't always 'heard'). I am absolutely stunned that your house has been on the market for 12 months and they have not recommended you updating the photos, let alone the house. As so many others have pointed out, having funeral flowers in the garden, in a photo that is obviously 12 months old shows they are not doing their job, and actually don't know how to market/sell a house effectively, or at all.

There is some excellent advise on this site and so much you can do for nothing, or little money. Take photos of your memories of the house and change the house to make a sale. You are paying a high cost both financially and emotionally but hanging onto it now.
Happy to answer any questions if that would be helpful to you.

pleasedelete

The house is in one of the most socially deprived areas of Leeds. It sits between 2 massive housing estates.

The actual area isn't too bad and not far away the the lilac housing has improved the area a bit but it is an area of social housing and private rented housing- limited private ownership in the area.

FBaby

Crashy_Time wrote: »

I am guessing that this was during a time when buyer sentiment was more positive, or perhaps "manic" is a better word? Did you add the price of the re-decorating to the asking price?

Manic or not, it didn't sell before the decoration was done and the comments we received were quite clear. It went from 'lovely house, really like it but too much work needing doing, would need to reduce the price by another £20K), to lovely house, large rooms, beautiful garden, very nicely decorated, could move in right away and no need to do anything to it'.

The reality is that more and more buyers go by their first impression either way. They either walk in and get a feeling of doom at the prospect of the work that would be required to be to their standard, or they have that first 'this is the one, I have to have it' feeling.

Yes I did add the price of the decoration to the revised asking price.