House not selling

ReadySteadyPop

RHemmings said:

ReadySteadyPop said:

RHemmings said:

blueskies1985 said:

RHemmings said:

ReadySteadyPop said:

Cutting the price is the absolute best route to a sale.

To me, cutting the price would be a strange thing to do in the middle of a flurry of viewings. At least see what offers (if any) come out of the current viewings. 

Not if the feedback is that it’s overpriced. 

Sometimes the photos look better then the reality, or they hope that a lower offer will be accepted. 

The fact is the house was probably only ever worth £150k in today’s market. House prices have come down and lots of people who bought in recent years and resold have made a loss. 

At the time I wrote that there were viewings that were still to occur. 

I think the general feedback was that the house was overpriced, your advice to keep doing what didn`t work isn`t good advice IMO.

Until the viewings have happened, it's unknown whether what was being done will work or not. Dropping the price when there are viewings booked in which haven't happened yet is a strange thing to do. 

The viewings were only booked because of the price drop, and whatever people offer isn`t really important anyway it is what their lender values the house at that counts.

ReadySteadyPop

blueskies1985 said:

RHemmings said:

ReadySteadyPop said:

Cutting the price is the absolute best route to a sale.

To me, cutting the price would be a strange thing to do in the middle of a flurry of viewings. At least see what offers (if any) come out of the current viewings. 

Not if the feedback is that it’s overpriced. 

Sometimes the photos look better then the reality, or they hope that a lower offer will be accepted. 

The fact is the house was probably only ever worth £150k in today’s market. House prices have come down and lots of people who bought in recent years and resold have made a loss. 

That`s right, in that case a price drop is the fastest least stressful route to a sale.

Hb92

So we did accept an offer of £152k last Monday but i just had a call to say their funding had fallen through and they had to back out so now i'm back to square one!

And no more viewings even 🙈

ReadySteadyPop

Hb92 said:

So we did accept an offer of £152k last Monday but i just had a call to say their funding had fallen through and they had to back out so now i'm back to square one!

And no more viewings even 🙈

Were they trying to get a mortgage?

RHemmings

ReadySteadyPop said:

RHemmings said:

ReadySteadyPop said:

RHemmings said:

blueskies1985 said:

RHemmings said:

ReadySteadyPop said:

Cutting the price is the absolute best route to a sale.

To me, cutting the price would be a strange thing to do in the middle of a flurry of viewings. At least see what offers (if any) come out of the current viewings. 

Not if the feedback is that it’s overpriced. 

Sometimes the photos look better then the reality, or they hope that a lower offer will be accepted. 

The fact is the house was probably only ever worth £150k in today’s market. House prices have come down and lots of people who bought in recent years and resold have made a loss. 

At the time I wrote that there were viewings that were still to occur. 

I think the general feedback was that the house was overpriced, your advice to keep doing what didn`t work isn`t good advice IMO.

Until the viewings have happened, it's unknown whether what was being done will work or not. Dropping the price when there are viewings booked in which haven't happened yet is a strange thing to do. 

The viewings were only booked because of the price drop, and whatever people offer isn`t really important anyway it is what their lender values the house at that counts.

You were suggesting a further price drop on top of the price drop that had generated the viewings, before all of those viewings had actually happened. 

Hb92

ReadySteadyPop said:

Hb92 said:

So we did accept an offer of £152k last Monday but i just had a call to say their funding had fallen through and they had to back out so now i'm back to square one!

And no more viewings even 🙈

Were they trying to get a mortgage?

Their deposit due from family had fallen through - some sort of family situation had happened i was told anyway. They did have a mortgage in principal also when they viewed but it ran out while waiting for my ex to agree to the offer (took him a week). So they had applied for a new one but then the rest of the finance fell through. 

ReadySteadyPop

Hb92 said:

ReadySteadyPop said:

Hb92 said:

So we did accept an offer of £152k last Monday but i just had a call to say their funding had fallen through and they had to back out so now i'm back to square one!

And no more viewings even 🙈

Were they trying to get a mortgage?

Their deposit due from family had fallen through - some sort of family situation had happened i was told anyway. They did have a mortgage in principal also when they viewed but it ran out while waiting for my ex to agree to the offer (took him a week). So they had applied for a new one but then the rest of the finance fell through. 

Any interest from the other views?

Hb92

Sadly not. We've had 2 viewings so far and one said the kitchen wasn't big enough and the other said the kitchen needed too much work. I don't know if these are genuine comments or if they are just saying it to say something for feedback. I mean you can see from the pictures it's an older kitchen so i don't see why you would still view it.

We have 2 more booked in for tomorrow so i'll see what happens with those. Looking at similar houses on the market there are a tonne that have even been up longer than mine like up to a year so i wonder if it's just a problem at the moment in my area possibly

ReadySteadyPop

Hb92 said:

Sadly not. We've had 2 viewings so far and one said the kitchen wasn't big enough and the other said the kitchen needed too much work. I don't know if these are genuine comments or if they are just saying it to say something for feedback. I mean you can see from the pictures it's an older kitchen so i don't see why you would still view it.

We have 2 more booked in for tomorrow so i'll see what happens with those. Looking at similar houses on the market there are a tonne that have even been up longer than mine like up to a year so i wonder if it's just a problem at the moment in my area possibly

Sadly it comes down to supply and demand, demand for moving house (no one viewing a house is homeless remember) has dropped a lot since borrowing costs started to rise.

RelievedSheff

ReadySteadyPop said:

Hb92 said:

Sadly not. We've had 2 viewings so far and one said the kitchen wasn't big enough and the other said the kitchen needed too much work. I don't know if these are genuine comments or if they are just saying it to say something for feedback. I mean you can see from the pictures it's an older kitchen so i don't see why you would still view it.

We have 2 more booked in for tomorrow so i'll see what happens with those. Looking at similar houses on the market there are a tonne that have even been up longer than mine like up to a year so i wonder if it's just a problem at the moment in my area possibly

Sadly it comes down to supply and demand, demand for moving house (no one viewing a house is homeless remember) has dropped a lot since borrowing costs started to rise.

And yet the market data (unsurprisingly) contradicts your comments:

https://www.zoopla.co.uk/discover/property-news/house-price-index/