House for sale 8 weeks and no viewings

Crashy_Time

westernpromise wrote: »

It doesn't matter where your flat was, Crashy.

According to Zoopla any Edinburgh property has gone up 240 to 250% over the last 20 years.

Hence eg this 2-bed place in Waverley
https://www.zoopla.co.uk/property-history/5-waverley-place/edinburgh/eh7-5rz/40699216
that Zoopla reckons is worth £200k today would have cost £57k 20 years ago.

You sold up your flat for 28% of its current value. At an average mortgage rate of say 4% over 20 years, you'd have paid £300 a month to own it by now.

Instead you've paid £400 a month to live in an HMO bedsit and own nothing.

Just think. If you'd bought (or kept) such a flat at £57k back then, you would now own the roof over your head, you'd have spent 20 years living in a 2-bed flat rather than a bedsit in an HMO, and you could have saved the monthly £100 difference (£24,000!) as well. You wouldn't have to worry about not being able to sell it because even if you gave it away for £0 you'd still be ahead of where you actually are.

Has renting enabled you to save up more than £224k, Crashy? I doubt it.

Maybe think about that next time you're giving people advice on the biggest transaction of their lives.

But if you are keeping the roof over your head the value is meaningless, you can`t peel £100 notes off your house and spend them? If you are moving the next house also costs more so your "profit" is eaten up? High house prices only benefit bankers, politicians seeking a feel-good factor (well that one doesn`t work any more, most people want a crash) and people who bought ages ago who are downsizing and can find a buyer at an inflated price. For most people high house prices just mean higher debt for longer.

Nikkidoodle

Hi,

We have had our apartment on the market for 12weeks now and not one single viewing! The apartment is reasonably priced and in line for the area. We have been here for 12 years, and actually only selling due to a job relocation.
Our ECP is almost perfect and no major work needs doing. However, the estate agent is also at a loss why we have had no viewings as the Internet intrest with people looking at the property is 4times the average.... Last week alone 85 views on right move but no viewings booked!

Davesnave

Nikkidoodle wrote: »

Hi,

We have had our apartment on the market for 12weeks now and not one single viewing! The apartment is reasonably priced and in line for the area. We have been here for 12 years, and actually only selling due to a job relocation.
Our ECP is almost perfect and no major work needs doing. However, the estate agent is also at a loss why we have had no viewings as the Internet intrest with people looking at the property is 4times the average.... Last week alone 85 views on right move but no viewings booked!

If you're getting lots of hits and no viewings, the answer's clear: people are not seeing value, or they're seeing something of very individual taste which will take shedloads of cash to to alter.

It's no surprise the agent is perplexed. After all, they're part responsible for the presentation which is somehow putting people off viewing. Being 'in line' with local prices clearly isn't apparent, though in a tough market it might be necessary to be below them. Right now isn't a great time to be selling.

No one cares enough about the 'almost perfect' EPC to make them want the property. After all, you don't care enough yourself to name it correctly!

Cakeguts

It is overpriced compared to what other people can buy. Do your own research and find out what else you can buy for the price of your flat.


If you aren't getting any viewings people think that your flat is too expensive and they go and buy a cheaper one somewhere else.



Viewing and no offers mean that it is still overpriced to what people can buy somewhere else.


Viewings and offers means that you have got the price about right.


Some estate agents overvalue in order to get your business. You can only get for a property what someone will pay you for it.



You have to price it so that it is the same price as properties in the immediate area and also the type of property. For example if it is an ex local authority flat then it needs to be considerably cheaper than a non ex local authority flat in the same area. This is because anything ex local authority will sell for less than something that has never been ex local authority. This will apply even if they are in the same street.


So price in line with the local area and the type of property in that local area.

Crashy_Time

https://www.housepricecrash.co.uk/forum/index.php?/topic/233671-its-official-no-deal-brexit-hpc/&