No viewings on flat

GDB2222

x_malibubabe said:

GDB2222 said:

 There are some two bedders on at £140k in Totton, so price may be a factor? 

They are over 55/retirement properties. Two beds are around the £180k mark and when you take into account the management fees it’s around the same price to buy a house! 

Regarding the fees, they are a little steep but they are considerably cheaper than other blocks in the area, and it is well maintained when we’re not in the middle of a pandemic. 

The main front facing photo a few of you have mentioned IS our flat. Access is from the back but the flat is at the front. None of the windows in the rear photo belong to our flat. 

You are absolutely right that the £140k two bedders in Totton are age 55+. That point rather whooshed past me, as I am aged 55+.         

As to price, one tactic is to put the property on at the price you actually want to achieve. I know that people want to beat you down, but the lower the advertised price the more people are interested, and you really need a few interested buyers. 

NameUnavailable

Another point to bear in mind is the price breaks on sites like Rightmove. You can search up to £125K, £130K or £140K. People with a maximum of £130K to spend might not see it, people looking up to £140K might think they prefer to spend a bit more.

Try reducing your price to £130K perhaps, depending on what you expect/need to acheive.

diggingdude

I would change the bed around and change that picture as it seems a strange setup. otherwise I think you're just going to have to wait until the right buyer comes along. At the moment those who can afford something bigger than a 1 bed flat will do so so they have space. Those who can only afford one bed flat, many are likely going to struggle with mortgages at the moment due to the large deposits needed. Some may wait for mortgage companies to change deposit policy, some may wait until they can afford something bigger. I think it's just going to take time but the flat itself is nice though maybe a little dark? Good luck with it

RelievedSheff

Unfortunately I think after lock down people are looking at what they want from a property more carefully and a 1 bed flat with no outside space isn't necessarily going to be high on the list.

No viewings would tend to suggest that the price is just too high for the market. 

The market has changed a lot in the last few months. I think that properties like yours have taken and will continue to take the brunt of the price drops.

The pictures could be better in the agents advert but they are not by a long way the worst ever.

Crashy_Time

RelievedSheff said:

Unfortunately I think after lock down people are looking at what they want from a property more carefully and a 1 bed flat with no outside space isn't necessarily going to be high on the list.

No viewings would tend to suggest that the price is just too high for the market. 

The market has changed a lot in the last few months. I think that properties like yours have taken and will continue to take the brunt of the price drops.

The pictures could be better in the agents advert but they are not by a long way the worst ever.

I disagree, most people are just going to go back to doing what they were doing as quickly as they can, many will be desperate for overtime or just to keep a job and they will continue to buy based on employment/location, size and price, and in a recession with banks tightening most people are in a less favourable position to pick and choose their ideal property anyway. Instead of boosting prices in rural areas this event is likely to drop them as the economy and city/town based property market that has fuelled rural purchases falters.This flat will sell at between 80 - 100k IMO, it is a price problem not a garden problem.

x_malibubabe

Crashy_Time said:

RelievedSheff said:

Unfortunately I think after lock down people are looking at what they want from a property more carefully and a 1 bed flat with no outside space isn't necessarily going to be high on the list.

No viewings would tend to suggest that the price is just too high for the market. 

The market has changed a lot in the last few months. I think that properties like yours have taken and will continue to take the brunt of the price drops.

The pictures could be better in the agents advert but they are not by a long way the worst ever.

I disagree, most people are just going to go back to doing what they were doing as quickly as they can, many will be desperate for overtime or just to keep a job and they will continue to buy based on employment/location, size and price, and in a recession with banks tightening most people are in a less favourable position to pick and choose their ideal property anyway. Instead of boosting prices in rural areas this event is likely to drop them as the economy and city/town based property market that has fuelled rural purchases falters.This flat will sell at between 80 - 100k IMO, it is a price problem not a garden problem.

Oh you are funny Crashy   

RelievedSheff

Crashy_Time said:

RelievedSheff said:

Unfortunately I think after lock down people are looking at what they want from a property more carefully and a 1 bed flat with no outside space isn't necessarily going to be high on the list.

No viewings would tend to suggest that the price is just too high for the market. 

The market has changed a lot in the last few months. I think that properties like yours have taken and will continue to take the brunt of the price drops.

The pictures could be better in the agents advert but they are not by a long way the worst ever.

I disagree, most people are just going to go back to doing what they were doing as quickly as they can, many will be desperate for overtime or just to keep a job and they will continue to buy based on employment/location, size and price, and in a recession with banks tightening most people are in a less favourable position to pick and choose their ideal property anyway. Instead of boosting prices in rural areas this event is likely to drop them as the economy and city/town based property market that has fuelled rural purchases falters.This flat will sell at between 80 - 100k IMO, it is a price problem not a garden problem.

Meanwhile back in the real world a large proportion of the UK workforce are currently working from home with employers realising that in a lot of cases there is no real need for people to work full time in the office. 

I am included in this number with no prospect of returning to the office anytime soon, if at all.

For those of us in this position space to work from home and outside space to break up the monotony are important. 

Unfortunately for the OP a one bed flat with no outside space doesn't offer that and that is why in my opinion they are going to struggle to sell this property. It looks to be a great little flat it is just a case of bad timing.

blue_max_3

RelievedSheff said:

Unfortunately for the OP a one bed flat with no outside space doesn't offer that and that is why in my opinion they are going to struggle to sell this property. It looks to be a great little flat it is just a case of bad timing.

Lack of outdoor space would not concern me. I live in a top floor flat and there are parks and a world outside if I choose. I had a big garden for over 30 years and didn't spend that much time in it!

wjr4

The third photo is awful. The photos should be a lot better, brighter and sell the property! The kitchen window is tiny, it looks like it needs updating in general & there’s no need for so many outside photos because the new owner won’t be living outside. 

RelievedSheff

blue_max_3 said:

RelievedSheff said:

Unfortunately for the OP a one bed flat with no outside space doesn't offer that and that is why in my opinion they are going to struggle to sell this property. It looks to be a great little flat it is just a case of bad timing.

Lack of outdoor space would not concern me. I live in a top floor flat and there are parks and a world outside if I choose. I had a big garden for over 30 years and didn't spend that much time in it!

In ordinary times that may well have been the case. However we no longer live in "ordinary " times. The memory of lock down, where visits to public spaces were severely limited, is still very fresh in people's minds. 

People are starting to appreciate property with a private outside space.