Can’t Sell our Flat - Options?

Crashy_Time

NameUnavailable said:

It's a funny market at the moment. Estate agents are saying they're struggling to keep up with demand, especially now with the stamp duty holiday. Yet all I see on Rightmove are price reductions until properties reach a price they will sell for.

As we head into Autumn/Winter people will be less inclined to think about moving (as is usually the case) and add into that mix the expecation of a large number of redundancies as the furlough scheme ends, a possible second spike of Covid and the uncertainty of what is happening to us after 1st January when we actually leave the EU.........

EA`s are quite amusing really, got to admire their spirit though.

pinkshoes

Ultimately, within half a mile of your postcode, there are 25 other properties with at least 2 bedrooms that are the same price or cheaper than yours. 

Buyers have a LOT of choice.

So your only option is to be patient, or reduce the price. 

SandyN21

Tron103 said:

Happy to share a link: https://www.rightmove.co.uk/property-for-sale/property-94350320.html

We know that when we bought there were a fewer similar options in the area. Flat building has been significant in the last few years so it may be inevitable that this has impacted value. We were originally attracted to the larger than average size, accessibility to key roads/stations and the fact it was a small development vs. some of the others available. It’s not perfect and definitely has some elements that may be off putting. We never expected to profit - it worked for us and we’ve really enjoyed living here but it feels very weird to think we may have to sell at a loss even vs. 12 months ago. There is a lot of competition so we may have to. I do like what someone said about consider the cost of renting. We’ve built up quite decent equity so still in a better position than if we hadn’t bought.

I'm thinking of moving to Apsley (canal side) but had viewed this online as a possible as it's within walking distance to Jarman Square but then I was put off by the top part of the building as it seems to have cladding on the outside.  

getmore4less

SandyN21 said:

Tron103 said:

Happy to share a link: https://www.rightmove.co.uk/property-for-sale/property-94350320.html

We know that when we bought there were a fewer similar options in the area. Flat building has been significant in the last few years so it may be inevitable that this has impacted value. We were originally attracted to the larger than average size, accessibility to key roads/stations and the fact it was a small development vs. some of the others available. It’s not perfect and definitely has some elements that may be off putting. We never expected to profit - it worked for us and we’ve really enjoyed living here but it feels very weird to think we may have to sell at a loss even vs. 12 months ago. There is a lot of competition so we may have to. I do like what someone said about consider the cost of renting. We’ve built up quite decent equity so still in a better position than if we hadn’t bought.

I'm thinking of moving to Apsley (canal side) but had viewed this online as a possible as it's within walking distance to Jarman Square but then I was put off by the top part of the building as it seems to have cladding on the outside.  

that should be easy to check lets try.
.https://planning.dacorum.gov.uk/publicaccess/spatialDisplay.do?action=display&searchType=Application

zoom in to the property check the planning

4/02371/07/MFA | Demolition of existing buildings, construction of three blocks comprising thirteen 2 bedroom flats and one three bedroom flat new vehicular access and associated works | The Lime Kiln PH & 62-64 St. Albans Hill Hemel Hempstead HP3 9NQ

Looks like Western Red Ceder timber was in the specification for the penthouse cladding..

getmore4less

just noticed  there are 4 for sale    none sold?
£290k upto £355k
3 are in your block. the one under(dual listed) and the one behind.

ciderboy2009

Just one thought - I would change the first photo to the one of the back of the building (as with the other one in the block that's up for sale).

One of the first things I spotted was the bus stop right outside the door.  Whilst some people may see this as a plus point I immediately had visions of double deckers stopping there with passengers on the top floor staring into the flat.

I also agree that the green space needs to be mentioned (assuming that you have access to it).

getmore4less

Original plans had paved areas include in the green space and more solar panels.
other related planning docs

4/00381/08/DRC | Details of plan to scale of 1:20 showing roof section, hard and soft landscape works, facilities for storage of refuse, proposed slab finished floor and ridge levels, renewable energy and conservation measures, sustainable drainage & water conservation as | The Lime Kiln PH & 62-64 St. Albans Hill Hemel Hempstead HP3 9NQ

Tron103

Hi everyone!

Popping back in to say a big thank you for all the practical feedback and advice. I think my EA wants to throttle me for my constant requests but I have no shame when it comes to asking. We’ve edited the pictures and removed the balcony and updated the listing to highlight the open space (which we do indeed have full access to and use regularly). I’ve also asked the Property Management Company to provide some info on cladding - it’s a good question!

Its a very fair point on the bus stop. It was something that made me a little nervous when we originally bought but we made the choice to compromise for space and location and surprisingly it hasn’t bothered me (no double deckers and minimal fear of being creepily stared at by strangers). 

Im going to try to chill out and be patient. I really believe it’s a great flat. It’s been perfect for us so I’m hoping someone at some point will have the same interest. It is highly likely however that I’ll be back bugging everyone I can in less than a week *hangs head*

Thank you again!

penners324

My flatcwas on the market for 12 weeks with only 1 viewing.
Flat market gas disappeared at the moment. There's also 120 flats for sale in my town with zero buyers.

Have taken it off the market and will try again in 6 to 12 months when everything has settled down.

matthew91822

Could be maintainence fees/ground rent. The building I live in (renting) has a maintainence charge of £2400 a year including ground rents which means most properties are on the market for several months and the flats are really cheap for what they are.