Why is my house not selling?

pembr0ke

I understand the market is fragile at the moment and FTB’s are struggling for low deposit mortgages, but I still expected our house to sell reasonably quickly after lockdown. We marketed the house at £230k and have been reducing the price every few weeks. We are now listed at £199k and are now one of the lowest priced 3 beds in our area. 

We are listed locally and with Purplebricks Cb99au queens court 3 bed terraced. Any advice appreciated.

Grumpy_chap

pembr0ke said:

We marketed the house at £230k snow have been reducing the price every few weeks.

Doing that will just make you look desperate.  When did you first go to market?

Grumpy_chap

If you mean this property.
https://www.purplebricks.co.uk/brochure/787308
There is an error in the listing.  I could only locate it by including 'sold' properties in a search.

pembr0ke

we put the house on the market right before the lockdown. We have found a lovely house that we have had an offer accepted on, so I guess we are desperate to sell in order not to lose the other house! We had quite a few viewings and 2 offers, both below 190k which is crazy. We remortgaged last year and the bank valued our home at over 200k. Shared parking in our area is a problem, but houses with a driveway in our neighbourhood start at 220k. 

Flugelhorn

comes up on RM - looks like a nice house

pembr0ke

both adverts appear on Rightmove.

theoretica

https://www.rightmove.co.uk/property-for-sale/property-90862280.html

and also

https://www.rightmove.co.uk/property-for-sale/property-71486559.html

Grumpy_chap

Offers at less than £190k are not that surprising from a listing at £199k

pembr0ke

thanks Grumpy, but the offers were when we were listed at 215k.

kinger101

This one.
You have two problems.  I wouldn't have any confidence with you as a vendor.  The price has been up and down like a yoyo.  You moved it twice in one day .  Secondly, you're using Rightmove.  Unless you're doing your own viewings, potential buyers find it practically impossible to book viewings with them.

I'd delist, wait a few months, then relist with a proper estate agent who'll save you from yourself.

https://www.rightmove.co.uk/property-for-sale/property-90862280.html

09/07/2020	Price Changed: £203,000  to £199,950
06/07/2020	Price Changed: £214,950  to £203,000
22/06/2020	Price Changed: £229,995  to £214,950
14/04/2020	Price Changed: £220,000 to £229,995
06/04/2020	Price Changed: £215,000 to £220,000
03/04/2020	Price Changed: £210,000  to £215,000
03/04/2020	Price Changed: £225,000 to £210,000
27/03/2020	Initial entry found.

[Deleted User]

It looks like a beautiful house and well decorated, so wouldn't worry about it not selling. Agreed with above comment though - I'd change Purplebrick to elsewhere and probably sell in a year or two down the line. Do you have to sell now or can you wait?