Not much interest on our property, thoughts please!

getmore4less

Vicki1990 wrote: »

Thank you mutton Geoff appreciate that, however don’t feel comfortable changing it with a park behind, we would feel to exposed to the public. A lot of people walk past as there’s a public footpath next to us, don’t feel so secure with the garden being open.

That totally negates a feature you are saying adds value, and by your own admission is a potential security issue.

If the park is a valuable asset stick a gate in(lockable)

Cakeguts

This is the general rule in selling a house.


No viewings or very few viewings means very overpriced. People won't bother to view because they know that you are trying to sell if for more than they are willing to pay and so they know that you won't accept their offer which will be low.


Lots of viewings and no offers means that it is still overpriced but is nearer to the price that someone is willing to pay.



Viewings and offers means that you have got the asking price about right and you can accept offers probably lower than your asking price.



Your house is still in the very overpriced situation because you have had 1 real viewing. Lots of people are looking at it on the internet advert and then passing over it because they think it is too expensive.



Don't think of the viewing on the internet as an encouragement think of them as potential buyers that you have lost because they won't pay your asking price.



The point is that no one is going to view and then offer you £155k for it because they know that you won't take that because you have got an over optimistic idea of what someone will pay you for it. So people don't waste their time by viewing they just move onto the next one that is marketed for what they will pay for a 2 bed.



2 bed houses are much harder to sell than 3 or 4 beds which is why the builders you mention don't want to build them. Many people who want 2 beds will go for a flat instead because it will usually be cheaper than a 2 bed house. Then they sell the 2 bed flat and buy a 3 or 4 bed house. Someone who wants to buy a family house is not going to pay extra for a 2 bed wherever it is. They will buy a 3 bed somewhere else.


The mistake you made was to buy a new 2 bed house. What has happened is that the value of it has dropped because it is now no longer new and the market for 2nd hand 2 bed houses is not very big. So you have two problems that make it difficult to sell.



A house is only worth what someone else will pay you for it. It isn't worth the imaginary number that the estate agent puts on it to get your business and it isn't worth what you think it is. You do not get to decide what your house is worth the market does that for you. What someone offers you for it is what it is worth. The market at the moment is saying that it isn't worth what you have it on the market for that is why you haven't had any viewings.



I understand that you have now got a problem because if you can't sell this house for a certain amount you probably can't afford your onward purchase but if you can't sell this house at all then what happens?



For a quick sale the price has to be attractive enough to bring in lots of viewings. The price that you have at the moment isn't doing that. How long can you afford to wait because is could be 5 o more years before prices rise to the level of your asking price and by then all the other houses in the area will have gone up by the same amount.



It might be a good idea to decide how you are going to fund your future purchase if you can't sell this house for enough to make the purchase possible

getmore4less

If the rental market is that good target investors

That's why you bought it.

Vicki1990

Thanks again for your comments, I didn’t ask for a valuation of my house I asked for feedback of what I can do to improve the listing. If you are an estate agent in my area I welcome you round to come and give me your honest valuation but I’m guessing from your input that you are not. As I have said before we have gone with the lowest valuation, not that it matters but the average was £180,000 - £186,500. We are flexible, we are willing to take lower than our asking price but please don’t assume you know the market in my area, it’s clear that you aren’t from here as you mention people buying flats, we are in a rural location and flats don’t exist here. The apartments down the road used to be a 4 bed house and have been on the market for a long time as the market for flats just doesn’t exist!
I would like to thank all of you that have given constructive comments, we have taken them onboard and are looking into what we can do. We have also organised for another local agent to come round to give their thoughts, and have taken new pictures for our advert.
Should there be any update on our house I shall repost.
Thanks again everyone.

babyblade41

Well that told us !!! An estate agent will always over value ...if they get you onboard for another 3 months contract then if no offers they will then suggest dropping the price

I really hope you get nearer to what you would like and you get the lucky buyer which is always lurking, just hope they come along soon

You really don't need to know an area to get decent comparisons which have actually sold and not what their sale price is.

That will tell you roughly what to expect especially a 2 bed detached is going to be pretty hard and as a new build will always drop in value .

You say the park won't be built on... well I live in a very rural area and there is a big legal battle about building 1500 new builds all on green belt about 3 miles from me , if it's land it can and will be built on at some point and as it's not in area of outstanding beauty there is always that possibility with a caveat that a play area is incorporated in the build


The park could actually be a bad point especially in the summer, a 2 bed isn't necessarily a family home so many might not want the annoyance of the noise in the summer months

Good luck anyway

Grenage

My purple bricks agent told me I should put my house on the market for 215k. I put it on for 200 for a lark, and sold for 185 after the evaluation came in at 180 (a price I actually considered fair for the price).


Agents aren't always on the level, and I suspect most of the internet agencies have the dregs. Still, I hope you manage to sell for as much as you are able.

bhughes1986

Personally, as a layman I think that your house is very nice. Clean and obviously looked after, as well as being in a nice semi-rural area (I lived near Telford for a while and really like that part of the country).

Looking online there are only a couple of other houses for sale in your village (within 3 miles) below £200k and yours appears to be the cheapest.

The only issue for me is to do with the location and who your buyers might be. With two bedrooms you are probably looking at a young working couple with no kids or a baby at a push. I'm guessing that the larger employment areas near you include Shrewsbury and perhaps Telford/Wolves/Birmingham further afield. Why would such a couple buy in your village when they could be faced with a large commute? Additionally, there are no doubt new houses being built nearer to those areas which means that these potential buyers can use the HTB scheme, meaning that they can get more with the deposit they have.

I would keep the price as-is, but change your estate agent to one that really knows your area. Local agents can often refer potential buyers (in your case people who are renting and want to buy their first home) as soon as a house goes on the market. Additionally, they may have links with other estate agents, or even local employers for people who are relocating to your area.

Good luck.

markin

Vicki1990 wrote: »

We paid £165,000 so not an option!

I cant work out your house number, But i had very a good feeling thats what you paid! Its just too soon to expect to have any gain.

Not using a local agent was a mistake.

How far are you moving for your new build? is it in competition?

With all the new builds in the next village the market is going to be swamped, Many people may wait for them and It didn't look very far on the map 10min drive?


Can you guaranty that no new builds are going to pop up next to your home in that field? Or in you village?




When your home was built.. Conditions relate to protected species (Great Crested Newts) which no longer appear to be present at the site... Very convenient for the builder

getmore4less

I just go with what data tells me.

If you ignore the bungalows and stick to the prestige village area.

This is the only 2 bed within a mile and no one is bothered to look at it.

Not a lot of 2 bed in the last year this one sold July.
£146,500
Asking was £160k

On my phone so a pain to do research.
May try to do some analysis back when the place was built 2017 to see what regular properties were selling at then.

warby68

A 2 bed semi is generally a starter home - the time when budgets are stretched. As you tell us you are in a premium location then the price for your 2 bed will be relatively high compared to other locations. This means a smaller buyer pool.

Your house is beautiful in my opinion, immaculate and easy to alter the colours if grey is not to taste - I doubt that is the issue. It will be a mix of price/location and what else is available. Loads and loads of views but no viewings really does suggest a price problem. The lovely condition suggests little room for negotiation as well.

Purple Bricks puts me off too - I would only look there if there was absolutely nothing else. Its says cheapskate sellers and noone to manage the process.

If you want the price, patience is the only suggestion - the plus points may tempt someone else in due course. There really is only one way to attract more buyers quickly and that is by price.