Bungalow not selling

Bouldcarol

Were trying to sell my late MIL detached bungalow. Its been for sale for 16 months and is in a nice area, has a large garden and neutral decor. It was on for £180000 and we had an offer for £170000, then he changed his mind and dropped it to £160000. I tried to meet him halfway to £165000, but he wouldn't budge so we declined. Its been reduced now to £172000 and compared to others in the area i think its a fair price . The viewing have dried up and weve had no one round since last june. The estate agent says people arent buying at the moment but i dont believe that. Id appreciate some honest feedback and what we can do to get it moving. Feedback from previous viewers were, gardens to big, no turning circle for car( its got a drive you dont need one) . No grass, It needs a new kitchen ( ok it can do with a new one and id reflect that in negotiating the price) no bath only a shower.

.rightmove.co.uk/property-for-sale/property-49947105.html

Davesnave

The viewer's comments will be mostly white lies. Ignore them.

While it's true houses haven't been selling so well just lately, everything correctly priced sells in a reasonable time frame.

That leads to only one conclusion.....

Are you looking at sold prices when comparing?

quantumlobster

Clicky clicky: https://www.rightmove.co.uk/property-for-sale/property-49947105.html

quantumlobster

If people aren't even viewing, it's well overpriced.

These things will restrict your market:

• No bath (people with young children are likely instantly out)
• Needs new kitchen
• No lawn

This is within a mile or so and sold for £155K in July 18:

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=63567211&sale=7774705&country=england

That's the competition. I think you should reduce to £160K - you've had an offer at that price.

seashore22

quantumlobster wrote: »

If people aren't even viewing, it's well overpriced.

These things will restrict your market:

• No bath (people with young children are likely instantly out)
• Needs new kitchen
• No lawn

This is within a mile or so and sold for £155K in July 18:

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=63567211&sale=7774705&country=england

That's the competition. I think you should reduce to £160K - you've had an offer at that price.

Link doesn't work.

quantumlobster

The forum is inserting a space in the word "country" in the URL - most strange!

Bouldcarol

Thank you all for your honest opinions . Im comparing the price to one thats up the road at £195000 and a much smaller one that sold at £160000. The original price we asked was from 3 estate agents valuations. Which is why when we were offered £160000 we felt it was too low . I can see now maybe we should have just let it go but the estate agent suggested to negotiate for more. Any other suggestions on anything (beside the price as i think we will have to reduce it )we can improve on ?

missile

Estate Agents loose interest when a property has been on sale for so long.
Take it off the market and re-advertise with a.n.other agent in April.

Get some furniture in for the new photos.

kinger101

That type of property generally only appeals to pensioners and people with mobility issues. Any one in good health can buy a three bed semi for the price of a two-bed bungalow.

If I wanted to buy such a property, this one seems to give me more for the money.

https://www.rightmove.co.uk/property-for-sale/property-48438951.html

No viewings usually means buyers think they'd not be able to find acceptable middle ground regarding offers. Lower your asking price.

moneyistooshorttomention

Both links worked for me.

I agree that the second bungalow does seem noticeably better to me. I would at least be asking myself whether I needed to change the kitchen or no on the second one (or whether I could just get away with swopping the wall-tiles). The kitchen in OP's house doesn't actually look finished - I instantly spotted the missing kickboards underneath the floor cupboards and would be scanning the rest of the house that bit more attentively and with the question in my mind as to what else might be missing.

The second house does have some stuff that might be "worked with" - rather than instantly gutted. OP's house is a "Gut the lot - garden and house itself" one and "gutting the lot" costs a lot (voice of experience - we are talking tens of thousands of £s to modernise that house).

moneyistooshorttomention

kinger101 wrote: »

That type of property generally only appeals to pensioners and people with mobility issues. Any one in good health can buy a three bed semi for the price of a two-bed bungalow.

If I wanted to buy such a property, this one seems to give me more for the money.

https://www.rightmove.co.uk/property-for-sale/property-48438951.html

No viewings usually means buyers think they'd not be able to find acceptable middle ground regarding offers. Lower your asking price.

Agreed.

That house also looks better value - it's also one that needs to "gut the lot" - but the garden on that one looks like it would make it worth it to do so. I'd be thinking "Probably need to replace the trees inside the back garden with ones of my choice and would certainly remove the swing - but the garden is basically okay".

EDIT; Overlooked the concrete garden path in that house - so that would need to be replaced by something "nicer" - but that shouldn't be too big a deal to do that.