When a listing just sit there with no reduction and no sale

System

Davesnave wrote: »

I was talking about your other one, the smallholding in Devon. It does look overpriced and I've suggested why it wouldn't make top dollar, as it might in a better connected part of the county with drier land.

Yeh, I think the Devon one is a better location and better connected. But I was really just posting it here for comparison. I'm really looking for something I can redevelop. Devon planning authorities seem to be getting more reluctant to allow redevelopment of old vernacular houses, even those without a listing.

societys_child

This thread shows that someone should have their medication needs re-appraised, whatever they're on, is clearly not working . .

System

societys_child wrote: »

This thread shows that someone should have their medication needs re-appraised, whatever they're on, is clearly not working . .

And you are on the thread now, so perhaps increase your dose of Risperidone to 10mg.

vroombroom

AnotherJoe wrote: »

As i posted to the OP way back at the start, there's a dozen reasons why someone may not have reduced the price, but he just stuck rigidly to his single assumption about what was happening. And now he's coming up with the stunningly illogical recommendation that the best way for you to sell is to, errrm, not sell it, for a year. Oh dear.

Mind you, this is a know-it-all that knows so much, that he gave someone £2,400 not to buy a house for him :rotfl:



In your case, getting back to practical solutions, is there not a mechanism to challenge the price they have set? Where did they get the £117k from?

He does seem stuck on one opinion :rotfl:

The £117k is based on what we owe them, it goes down slightly each month with each mortgage payment with a portion of it going to our 'shares'.

System

vroombroom wrote: »

He does seem stuck on one opinion :rotfl:

The £117k is based on what we owe them, it goes down slightly each month with each mortgage payment with a portion of it going to our 'shares'.

It is just a basic fact of life that listings that languish for ages on Rightmove have gone stale, and stale listings are less appealing to buyers. The only genuine way to freshen up a listing is to reduce the price, or give it a rest from the market and then try again at a later date.

NeilCr

Many moons ago - well okay 12 years - I bought this house.

It was a new build but hadn't been lived in at all (for two years). I really, really liked it (still do) and after some negotiation on price agreed to buy it. Seven protracted months later (don't sell to your best friend!) I finally moved in.

Move forward to 2017 and I was, vaguely, thinking of selling. The rep from the agent who sold me the house came round to do a valuation. Turns out she is the sister of someone I know and we got chatting. She had been at the agents for a long time and knew the property well.

She said that when I bought it the house had been on the market for over nine months. I was genuinely surprised as I thought it would be popular although it's 2 bed and has little outside space. Apparently, the vendors had acquired it for their daughter who decided for various reasons that she didn't want to move in. They then put it up for sale - I gather they are/were well off and were more interested in getting somewhere near the asking price than anything else. Had I known this at the time....

They certainly were hard nosed - because there was a delay in the purchase they pushed me into paying an extra £1k

I am not complaining as I got the house I wanted and was happy to pay the price. My sale in London paid off my mortgage and I ended up living in the area I wanted to in a great location

It does go to show, though, that there could be various reasons for keeping a property on the market for a long time

Personally, if it was a property I was interested in I'd not take that much notice, initially, of a stagnant listing. It may just be that the right buyer hadn't come along before me.

justjohn

Diocletian_II wrote: »

give it a rest from the market and then try again at a later date.

this attitude just fuels the tendency for people to switch EA's so listings looks "fresh"


would not bother me how fresh a listing looks. you can also often find out if a property has been on with another EA. And you can often find out when a property first came on the market.


I sold a house that was on the market for over year and a half. I am doubtful if many of the tyre kickers I had round ever bought a house lol

RelievedSheff

Much like the OP who is clearly a tyre kicker with no interest in buying a property.

Just a time waster.

System

justjohn wrote: »

this attitude just fuels the tendency for people to switch EA's so listings looks "fresh"


would not bother me how fresh a listing looks. you can also often find out if a property has been on with another EA. And you can often find out when a property first came on the market.


I sold a house that was on the market for over year and a half. I am doubtful if many of the tyre kickers I had round ever bought a house lol

I think you are right that switching EAs to make a listing look fresh doesn't normally work, and buyers tend to see through that. I'm suggesting taking it off the market for a year, then trying again with a fresh listing, plus seeing if the market has improved or deteriorated from its current stagnant state. It's also nice not to need to be constantly on internet display and ready for last minute viewings.

justjohn

Diocletian_II wrote: »

I think you are right that switching EAs to make a listing look fresh doesn't normally work, and buyers tend to see through that. I'm suggesting taking it off the market for a year, then trying again with a fresh listing, plus seeing if the market has improved or deteriorated from its current stagnant state. It's also nice not to need to be constantly on internet display and ready for last minute viewings.

NO lol


if the pool of buyers is small you could loose or mis a buyer. I have seen properties on the market for 4 year before they sell.