Thoughts on our property price?

Mrh1019

Hi all, I was hoping you might give me some advice/feedback? Our property has been on the market for a week. It was originally valued at £199,950, £199,995 and offers over £200,000. We went with the agent that valued it at £199,995 and discussed weather to put it on at this or offers over £200,000. Her response was why don’t we try it at £205,000. We’ve had four viewings and have one more booked. Feedback positive, liked it but liked another better, liked it but not for them, bathroom too small as buying for elderly parents. The thing is, I feel like it’s over priced 🙈🙈 can’t decide if I’m just being silly but feel like we might get more interest at £200k due to search parameters on rightmove and looking at other properties in the area?? On another note we have a south facing garden which they didn’t put on the advert but I assume it would be good to include that? This is the link xx thank you x

https://www.rightmove.co.uk/property-for-sale/property-95091977.html

MaryNB

Photos could be brighter. I do like the style of your house. Feels quite modern but with scope for people to put their own style on it. I'd definitely add that it has a south-facing garden! Pretty big omission in my opinion.
I wouldn't drop it after just a week. If I saw a vendor was dropping the price I'd definitely bid under, would appear they were trying to sell it quickly. Makes it very obvious that you're not getting decent offers in. 

[Deleted User]

A week isn't long at all and it's a lovely house and you've got viewings - all positive! I think £205k is a random price and a bit daft in my opinion. People generally search in the 'block' prices on Rightmove so a lot of people will have a £200k top budget / search. I would say offers over £199,950 or something would be a better place to be in terms of the psychology of buying and budgets.

Aaghh321

It's beautifully presented and you're getting interest at that price. Looking at recent sold prices though it might be a little optimistic as 4 bed detached have gone for £10-30k more. I'd keep it at that price for another couple of weeks and maybe take a view then. Buyers can always put in a lower offer if they like it.

Mrh1019

Thanks, I must admit when it first got valued we were shocked it was that high! We definitely would have been happy with anything over £195,000 x

Mrh1019

I think I’m leaning towards reducing it 🙈

RelievedSheff

I would give it a bit longer first. It's only been a week!

Vestraun

I would agree you should have put on at £200k, but you shouldn't reduce it right now as doing so this quick may make you look desperate. 

Mrh1019

How long do you think we should put it on before we reduce it? Thanks 

AdrianC

Five or ten grand either way is window-dressing, and won't make any difference at all. "Offers over £200k" is a great way to get people to roll your eyes, though.

Anybody looking to spend c.£200k will certainly not just be searching up to that number, they'll look above it, too.

bravotango

Personally, I think the house looks alright inside, but what I don't like are the dimensions of the house. It looks like it has been strectched out. I would have been tempted to have had a full double storey side extension (the bottom part of the new extension would have become the new garage, and upstairs would have been a new bedroom or study), and where the current garage space is, knock it down, and have a bigger garden.

As others have said, just keep the £205,000 price. Can't comment if it is worth that price as don't really know Leeds property prices.

As an example, if someone turned up and said I'm going to offer you £180,000 would you happily accept, negotiate for a little bit more (£185,000 for example) or simply turn the offer down?