15 Viewings - No Offers...

getmore4less

Somehow in my head I was expecting some buts  like, a lot of those properties are in Bilton which is not as nice as my area  etc.
As an total outsider I do this without any preconceptions of what's nice or not, sometimes without even looking at the property, it is a straight number crunch  what are people buying, then do the comparisons in finer detail to work out the pecking order.

You could do the £10k increments between £250-£300 not sure if that will show anything new.

Nothing wrong with being peaky on price as long as it still get the viewings,  there have been the odd 3b sale over £300k. 

Where to pitch it next not sure as the next step from viewings if overpriced is cheeky offers and you are not getting them yet,
Might be people that are viewing are happy to spend £290 and will just pick something better and the people with say £260-£275k(5% less) to spend are not looking


  

LittleMax

No, I am a realist.  There is a premium to Cawston - but I'm not sure it's as big as people who live there like to believe!  I for one can see the benefits of other locations - I have moved to a 1970's estate a few miles away and bought a house I can add some value to. 
I think what has thrown me is the lack of any cheeky offers.  I do get the impression that most people who have shown interest could afford more and if I was them I would pay a bit more and get something else!  Yes, I need to now try to attract the people who will stretch to my lowest price rather than barter down from my highest price.  It's been interesting knowing how to pitch it, we had conflicting advice from EAs.  

Ditzy_Mitzy

LittleMax said:

No, I am a realist.  There is a premium to Cawston - but I'm not sure it's as big as people who live there like to believe!  I for one can see the benefits of other locations - I have moved to a 1970's estate a few miles away and bought a house I can add some value to. 
I think what has thrown me is the lack of any cheeky offers.  I do get the impression that most people who have shown interest could afford more and if I was them I would pay a bit more and get something else!  Yes, I need to now try to attract the people who will stretch to my lowest price rather than barter down from my highest price.  It's been interesting knowing how to pitch it, we had conflicting advice from EAs.  

Do you think it's the age of the property that's putting people off?  Genuine new build buyers, as in buyers of 'brand new' houses, differ from the average house buyer.  The ones I know who have bought new builds, new ones, did so because the house was 'new'.  They didn't, for reasons I can't fathom, want to live in a house that someone else had lived in before.  This mattered so much that they were willing to shell out extra on something in the middle of a building site.  They all had problems but would not, for instance, have touched a five year old house as it was 'second hand'.  I've heard that term used, 'second hand house', as if the property is somehow soiled and beneath contempt.  Odd.  
And then you've got normal buyers, such as yourself, who don't care how old a house is and how many people have lived in it before.  I'm one too, but I'd want something a little bit older.  Houses, like people, get better with age.  A 1950's to 1980s place on an established estate can offer a lot: bigger rooms than a new house, more garden, better settled neighbours, adopted roads, no service charge malarkey and, this one is subjective, nicer aesthetics.   
Which leaves the twenty first century former new build in something of an awkward position.  Perhaps they're the teenagers of the housing sector: no longer young enough to be cute but not yet grown up enough to be desirable and trustworthy.  Obligate new buyers aren't interested and normal 'second hand' buyers aren't either for the reason that if one is to buy old, one might as well buy older and get better for the money.  And there's a real lot of them too.  Maybe this is all speculation and it is just price?  Maybe the pool of people interested is sufficiently small that the house really is difficult to sell?  

Titus_Wadd

Our house-buying heads have changed over the years; our first houses bought in the 80s (with eye-watering % interest rates) were easy to add value to and flip to build equity.  Once we had little children (the 90s) we wanted to do less of a project but also wanted 3 bedrooms of near equal size.  Back then we saw so many "pyramid" houses: beautifully extended on the ground floor but 2 bedrooms and box room upstairs.  The OP's house has fair sized bedrooms which are good when your child starts to hang out in their own room and you can reduce the over-spill of their stuff downstairs.

We bought our current house when it was 3 years old because all the snagging had been done by the first owners.  OP there will be someone who wants to buy it, it just might take a while.

I wonder whether buyers' willingness to make a cheeky offer varies regionally or has just changed over 20 years?

We priced our previous house expecting to be bartered down on the price.  We had a viewer who told the EA they'd happily pay £10k less than the initial asking price; EA told them to make that offer, but they said they'd be too embarrassed to.  They got in touch after we'd accepted the full asking, albeit reduced, price saying they would offer but hadn't noticed we'd lowered the price!  Madness!  We must have offended a few vendors over the years - a couple of offers refused instantly, but if you don't take a punt you'll never know.  If someone makes a lowish offer at least it opens up for a bit of negotiation.

Let us know how things turn out LittleMax?

LittleMax

Yes, the not offering is strange - haven't they watched the property programmes, Phil and Kirsty rarely say go in with a full price offer!  Oh well if people are waiting for me to reduce and then offer the full asking, I can live with that. 
Yes, I promise I will let people know... if only to prove @Crashy_Time wrong  

gwynlas

LittleMax said:

Yes, the not offering is strange - haven't they watched the property programmes, Phil and Kirsty rarely say go in with a full price offer!  Oh well if people are waiting for me to reduce and then offer the full asking, I can live with that. 
Yes, I promise I will let people know... if only to prove @Crashy_Time wrong  

There is no point lowering the price as you have had 15/16 viewings so it is not that which is putting people off. Rather than drop 10-20K at this point, dress as suggested and let people know that you are keen to sell and open to offers. If the house looked okay to viewers at least one is likely to have made an offer by now,

Crashy_Time

AnotherJoe said:

Crashy_Time said:

AnotherJoe said:

Crashy_Time said:

AnotherJoe said:

Crashy_Time said:

LittleMax said:

Crashy_Time said:

London7766551 said:

Likely already been said a million times but I would not pay 290 for this house. 230 at most. It is a bit of a weird shape and seem very squashed. It is a nice house still but not for that amount.

200k absolute tops IMO, and that is taking into consideration that we are in a property bubble and people`s sense of value has been twisted for years, and the fact that something sold in the street 12 months ago isn`t really relevant as 12 months is a Universe away in economic terms now.

Oh you do make me laugh - we paid £207k for it in 2012!  

Maybe you overpaid in 2012? Economy was ticking along back then, it isn`t now, when you sell it tell us how much then have your laugh at me, how does that sound?

The usual Crashy BS, house prices were only just starting to recover in 2012. A year or three after that they took off.

Ok, so how much will this house sell for?

More than it cost in 2012. Hopefully the OP will be round to tell us at some point soon.

Its hard to generalise areas, but round here (central SE) prices are probably 40-50% above 2012.

Asking prices don`t count...LOL.

I'm talking selling prices. .... "LOL"

Can you pop up some postcodes so we can take a look?

Crashy_Time

gwynlas said:

LittleMax said:

Yes, the not offering is strange - haven't they watched the property programmes, Phil and Kirsty rarely say go in with a full price offer!  Oh well if people are waiting for me to reduce and then offer the full asking, I can live with that. 
Yes, I promise I will let people know... if only to prove @Crashy_Time wrong  

There is no point lowering the price as you have had 15/16 viewings so it is not that which is putting people off. Rather than drop 10-20K at this point, dress as suggested and let people know that you are keen to sell and open to offers. If the house looked okay to viewers at least one is likely to have made an offer by now,

That is more or less the same as knocking 20k+ off, LOL. The difference nowadays is that people are not going home from a viewing and switching on a property show that is re-enforcing their decision to over-pay for a property, they are switching on SKY news etc. and hearing "Recession", "Depression", "Job losses", "Property Bubble Bursting" etc. etc. It all affects sentiment and with tightened lending and chains collapsing you find the reason that many sellers are not getting offers, not at the prices they would like anyway.

hazyjo

Crashy_Time said:

AnotherJoe said:

Crashy_Time said:

AnotherJoe said:

Crashy_Time said:

AnotherJoe said:

Crashy_Time said:

LittleMax said:

Crashy_Time said:

London7766551 said:

Likely already been said a million times but I would not pay 290 for this house. 230 at most. It is a bit of a weird shape and seem very squashed. It is a nice house still but not for that amount.

200k absolute tops IMO, and that is taking into consideration that we are in a property bubble and people`s sense of value has been twisted for years, and the fact that something sold in the street 12 months ago isn`t really relevant as 12 months is a Universe away in economic terms now.

Oh you do make me laugh - we paid £207k for it in 2012!  

Maybe you overpaid in 2012? Economy was ticking along back then, it isn`t now, when you sell it tell us how much then have your laugh at me, how does that sound?

The usual Crashy BS, house prices were only just starting to recover in 2012. A year or three after that they took off.

Ok, so how much will this house sell for?

More than it cost in 2012. Hopefully the OP will be round to tell us at some point soon.

Its hard to generalise areas, but round here (central SE) prices are probably 40-50% above 2012.

Asking prices don`t count...LOL.

I'm talking selling prices. .... "LOL"

Can you pop up some postcodes so we can take a look?

Are you asking for London areas that have increased over 40-50% since 2012? I've lost track.

Try E4. Many nearly doubled from 2012 to now.

Crashy_Time

BrassicWoman said:

I live in the area. You're very over priced.

There you go, someone on the ground is telling you the reality, not someone hundreds of miles away on a keyboard.