Why is this house not selling

Herzlos

Logically lowering the price will mean more viewings. If you listed it for £1 you'd have it sold in an hour.

But that doesn't mean the price is wrong, it's just wrong for the current set of buyers. So you need to trade off between a quick sale high figure sale.

Conversely, terrible photos, bad DIY work etc would put off more buyers than price alone would.

So whilst I understand why you're suggestions are always "Price is too high", that's not always useful or accurate advice.  It's always possible that you're actually right, but your bias is too hard to ignore.

ReadySteadyPop

Herzlos said:

Logically lowering the price will mean more viewings. If you listed it for £1 you'd have it sold in an hour.

But that doesn't mean the price is wrong, it's just wrong for the current set of buyers. So you need to trade off between a quick sale high figure sale.

Conversely, terrible photos, bad DIY work etc would put off more buyers than price alone would.

So whilst I understand why you're suggestions are always "Price is too high", that's not always useful or accurate advice.  It's always possible that you're actually right, but your bias is too hard to ignore.

The price has gone from 325k to 270k, still a lot of money, no one is talking about selling anything for a pound, the "current set of buyers" will be influenced by the cost of borrowing just as much as the "next set of buyers", smart cash buyers won`t overpay and will be aware of pricing for the area that is actually selling properties, we don`t really have that information though do we?

ReadingTim

ReadySteadyPop said:

we don`t really have that information though do we?

And yet that lack of information doesn't seem to stop you pushing your rather simplistic and tiresome narrative, does it? 

ReadySteadyPop

ReadingTim said:

ReadySteadyPop said:

we don`t really have that information though do we?

And yet that lack of information doesn't seem to stop you pushing your rather simplistic and tiresome narrative, does it? 

We have the info that the asking price has been reduced by 55k, we don`t know about the general level of price reductions for the area, PropertyLog or similar would be able to show that and tell us if the house is likely to be attractive to buyers at the new price.

ReadySteadyPop

horsewithnoname said:

Jami74 said:

I was very recently a first time buyer. There were a couple of houses for sale that I thought ticked the right boxes for me (right number and size of bedrooms, location, drive etc) but had been on the market for 18 months plus. As a very wary FTB I assumed there must be something wrong with them and did not arrange viewings. Also, the fact the pictures of the gardens were taken in the middle of the summer and I was looking in the middle of winter seemed like no-one had bothered to update pictures. Made me wonder if they weren't really for sale or if they were unmortgagable.

Sorry, I know my attitude was probably wrong but there might be other FTBs with similar concerns.

Friend of mine FTB actually bought a house that had been on the market for ages, there’s absolutely nothing wrong with it, though having reduced the price once, they stuck out for the new price and wouldn’t reduce it. Looking at what had sold it wasn’t at all overpriced, in fact a good buy. Absolutely no clue why it hadn’t sold, other than it hadn’t!

Not enough demand in the area probably.

ReadySteadyPop

moneysaver12 said:

Hi our house has been on the market for 2 years.  Lots of viewings but no offers,  reduced the price earlier this year. 

Can anyone suggest anything that we can do and also why it’s not selling please 

(Link removed by Forum Team)

Any updates?

Mr.Generous

Someone message me a link please, im intrigued

ReadySteadyPop

Mr.Generous said:

Someone message me a link please, im intrigued

The link was removed, I think the OP has acknowledged that low demand in their area means it was overpriced at the start.

ReadySteadyPop

ReadingTim said:

ReadySteadyPop said:

we don`t really have that information though do we?

And yet that lack of information doesn't seem to stop you pushing your rather simplistic and tiresome narrative, does it? 

How would you sell the house?

moneysaver12

ReadySteadyPop said:

moneysaver12 said:

Hi our house has been on the market for 2 years.  Lots of viewings but no offers,  reduced the price earlier this year. 

Can anyone suggest anything that we can do and also why it’s not selling please 

(Link removed by Forum Team)

Any updates?

Hi sorry only just seen more replies.  We had more viewings. Some of the pictures were changed.  I’ve been trying to make the house look better.  We have had an offer bellow the asking price,  it was offers over.  My husband is considering the offer. We did have an offer accepted on another house.  If we go ahead it means that my husband will have to get a higher mortgage amount than we thought he would have to and due to his age it increases the mortgage to 1500 a month from 970 as he can only have over 14 years due to his age.