To Leave on the Market, or Take off until spring...

jonny2510

We put our house on the market towards the end of October, and as yet haven't had any interest. Not a single viewing.

I suspect this is partly down to the time of the (or so everyone tells me) and partly to the slow down that everyone is talking about (whether it's happening or not, I'm sure it will put some people off, who are waiting to see what happens).

The house is a 2 bedroom semi, and as I got it on the market in October has avoided the need for a HIP (which I think will be any house put on after 14th December).

A lot of people I speak to have suggested I take it off the market now (I've got to give 30 days notice) and put it on next March when people are interested in buying house again.

If I do take it off though, when I put it back on, I'll have to get a HIP, which may* cost me approx £400.

* I say "may" as I think most agents are offering free, non portable HIPs if you sell your house with them (if you take it off the market / change agents, you have to pay them back for the HIP, and even then can't move it over to another agent).

I'm leaning towards taking it off, as nothing seems to be happening at the moment, and don't want potential buyers to be put off next Feb / March because the house has been on the market for 5 months.

Anyhoo, if anyone can offer any advice I'd be really grateful, as I have absolutely no idea what to do!

Zammo

Yes, I'd take it off and wait till next year now. If people think it's been hanging around for months it will put them off viewing as they will assume there's something wrong with it.

FTB77

If it hasn't had any interest at all, then it is too expensive.

Doozergirl

I agree that if it hasn't had a single viewing then you need to be concerned.

But I can't see the point of taking it off the market. It's only people like me (and dare I say some others here) that really know how long stuff has been on the market. If I want to buy something I'm on the phone as soon as it comes up still.

On the market gives you a far better chance of selling then off the market and why pay for a HIP if you dont have to.

CYBERCIDERSAVER

You never know when some mug... I mean poor innocent schlub.. I mean someone who's willing to pay what you're asking (or thereabouts)
Seriously though you are right about the market. borrowing down by a billion in October I believe (5B to 4B)

I'd keep it on and give your estate agent some stick. He obviously valued the property for you. so why isn't it shifting if he's valued it correctly?? :mad:

Make him squirm for his money. especially if he suggests lowering the price! Then you can complain that you only went with his agency cos of the high valuation.

Ask him what HE's going to do to drum up viewings at least!!!



In my area, some of the "newer" estate agencies are doing "open house" days and even better "price reduction of 5 grand between 12 and 1pm this saturday only"!!!!

I reckon they used to work at curry's:rotfl::rotfl::rotfl:

HAve you a right move link to your house. We all love a good snoop...

SquatNow

Add in usual "a house is only worth what someone is prepared to pay for it" speach.

Drop the price by 15% then 5% a week until people show interest.

Most places sell for 20%+ less than asking price these days. Buyers market blah blah blah.

It's 3am and I cant be arsed to explain to another dreamer why people wont pay silly money for their house during a crash.

Sorry if I seem moody but it's the same problem weve seen before with the same solution which the seller will reject as it doesnt fulfill their dreams. Drop the price or chase prices down.

bap98189

The housing market is supposedly slowing down, but even so, if you haven't had a single viewing in all that time, it is either overpriced or your estate agent isn't doing his/her job.

Either way, I would consider finding another agent in the New Year. Yes it will cost you £400 for a HIP but that's a tiny percentage of the likely selling price of the house, and leaving it on the market with no interest must be costing you each month.

home_alone

I think they give Feb as the top selling month.

gary

ModernSlave

Do you have a link we can look at? If it's not marketed correctly online you can instruct your agent to list it on the top websites, take better photos or add more information to the listing.

I think you should persevere for a bit longer as March is a long time away and not even having one viewing means you haven't had any feedback about the property. If there's a real sticking point for buying stopping them even looking (other than price) you need to identify it in order to fix it before then!

cattie

Sometimes you can get an estate agent to do what they call low-key marketing if a client is worried about over exposure during a slow period or is not in a particular hurry to sell.

Basically it means they won't actively market your house, or advertise it, but it will remain on their books & be in the in-house property file. Also details would be sent out to anybody specifically looking for your type of property or in your particular road.

Then when you are ready for the full marketing package to start again you just let the ea know.

Romani_Ite_Domum

The market has already turned but the data from land registry etc hasn't caught up with it yet. By the spring we shall start seeing figures of what is happening now. Drop the price and sell now when you have a chance.