Will my house EVER sell?

RelievedSheff

7 weeks is no time when you started marketing at the quietest time of year.

Your strategy has been all wrong but you can't do anything about that now.

Just relax. Getting stressed about it won't help the situation at all.

lookstraightahead

Ruby-Tuesday said:

We can't reduce it any further. We have reduced it down to our bottom line because we don't want to lose the property that we have had our offer accepted on. The price reduction has not lead to the hoped for uptick in interest/viewings.
The property market has dropped, thanks to the antics of Liz and Kwasi in September, and we went on the market too high. 
7 weeks seems a long time, when you are constantly cleaning to a very high standard, in case of a last minute viewing.

You're valuing it to suit your own budget, rather than what it's worth. I agree the property market has dropped but that's not a bad thing for everyone and also not for you, as the houses you're looking at had possibly reduced too. 

lookstraightahead

RelievedSheff said:

7 weeks is no time at all to be on the market. Be patient!

Your constant price changes will make you look desperate so buyers will be holding out for mote reductions. 

Calm down. 

Buyers are more likely to offer less rather than wait for a reduction before viewing. 

diystarter7

RelievedSheff said:

7 weeks is no time at all to be on the market. Be patient!

Your constant price changes will make you look desperate so buyers will be holding out for mote reductions. 

Calm down. 

But 5 weeks and one viewing means that there is something fundamentally wrong. IE the price. 
Prorty may not sell for days, weeks and even months but rest assured that a residential property
will get more than one viewing within 5 weeks if price does not look too far-fetched.

Martico

diystarter7 said:

RelievedSheff said:

7 weeks is no time at all to be on the market. Be patient!

Your constant price changes will make you look desperate so buyers will be holding out for mote reductions. 

Calm down. 

But 5 weeks and one viewing means that there is something fundamentally wrong. IE the price. 
Prorty may not sell for days, weeks and even months but rest assured that a residential property
will get more than one viewing within 5 weeks if price does not look too far-fetched.

I've a feeling you may have got this confused with another thread from today (that appears to have disappeared). No mention on this thread of only one viewing, geography also appears different.

tooldle

diystarter7 said:

RelievedSheff said:

7 weeks is no time at all to be on the market. Be patient!

Your constant price changes will make you look desperate so buyers will be holding out for mote reductions. 

Calm down. 

But 5 weeks and one viewing means that there is something fundamentally wrong. IE the price. 
Prorty may not sell for days, weeks and even months but rest assured that a residential property
will get more than one viewing within 5 weeks if price does not look too far-fetched.

Dependent upon where you are geographically and how many potential buyers are in your market for your type of property.
7 weeks is a relatively short amount of time at the quietest time of year. 

Sarah1Mitty2

Ruby-Tuesday said:

We can't reduce it any further. We have reduced it down to our bottom line because we don't want to lose the property that we have had our offer accepted on. The price reduction has not lead to the hoped for uptick in interest/viewings.
The property market has dropped, thanks to the antics of Liz and Kwasi in September, and we went on the market too high. 
7 weeks seems a long time, when you are constantly cleaning to a very high standard, in case of a last minute viewing.

No, that isn`t correct, but the wider discussion is outwith the allowed discussion on this forum, the GLOBAL property market has dropped, and that is to do with central banks, in particular the U.S, reversing their zero bound interest rate policy, it isn`t mysterious, it isn`t hard to understand, it is simply the effect you get when very cheap borrowing on a particular asset class starts to return to more normal borrowing rates.

Ruby-Tuesday

We have been on the market 7 weeks and had 3 viewings. The first viewing was in the 2nd week after the initial price reduction.

[Deleted User]

Ruby-Tuesday said:

EPC is a C, modern boiler, cavity wall insulation, double glazing.
I think  the mistake we made,  based on the estate agents valuation/advice, was to go on the market at too high a price and to lose that important first couple of weeks of interest.
Although we realised ourselves really quickly when we weren't getting any viewings and  we reduced it after the first week by £100,000  and have just reduced it  again by a further £50,000.  So in total we have reduced it by £150,000 and still no joy.
The house is dated, by modern standards. It needs a new kitchen. Bathroom is fine, white suite, clean and functional.
It is priced to reflect this. I may post a link to Rightmove if I feel brave enough!

You reduced it by 150k, which you say is 15%. So it was on the market for a million, right?

gwynlas

You need to take the house off the market and reevaluate your strategy. Reducing by £150k smacks of desperation and makes a total mockery of the professionalism of your experts who sell houses to make a living. I know that slme EAs go in high to get your business and then get you to reduce but this is beyond chaotic and a mess of your making. Almost every house is comparable to others in the near area and will attract viewers and buyers if fairly priced. The exceptions might be over specced for the area new builds or houses of historic interest. Please post a link for constructive feedback.