House has been on the market for 6 months

Hoenir

leriloo said:

Albermarle said:

What does your EA say when you ask about why there are no offers ?

They just say that it's a slow time at the moment!

Market historically starts to move faster in spring around Easter. Someone proably needs to sell to buy yours. 

magpies79

We was possibly looking at putting our house up this year but thought we might struggle to sell with the way things are going next door put there's up for £205k bought it for £175k 2 years ago sold in 2 days.

dont know if it helps as probably first time buyer houses so maybe more demand but I thought they'd struggle to get that but cleary not.

maybe hold off for a while and try again later 

[Deleted User]

What happened with the offer £50k under? It's a bit cheeky but in a slow market it's a starting point. It's what - almost 90% of the asking price. Did you negotiate or was that a maximum.

But yes, I'm planning to put mine on next month and I monitor the market every day. It's very slow despite what the estate agents say, at least in my area. When last I tried to sell, houses were going in hours, admittedly during covid. I sold mine in a day then had two offers on top of that, each increasing by 10%, but I literally couldn't get a viewing because the houses were gone immediately, so with nowhere to go I had to cancel the sale. Now I'm seeing nice houses at decent prices sit for months despite reductions. The whole thing is absurd, to be honest. We need a scheme whereby the government offers to buy any house that doesn't sell, for 10% under market value, and that way the market doesn't stagnate like it so often does, and the economy will benefit from increased mobility of the workforce.

jj_home_80

What's the roof like? I mean is the basic structure of the house all solid?

Murphybear

Flugelhorn said:

FlorayG said:

Who knows? There's a lovely bungalow two doors up from me been on the market  six months, doesn't need any work doing, perfect for retirement - not a single offer in all that time. Price has been dropped and still no takers. 
Unfortunately with the historic information on the internet available some people may be wondering what's wrong with yours that you have to keep dropping the price - they may be suspicious that there's something more than just 'we are desperate to sell'

that's an odd one, in most places bungalows, especially if not needing any work, sell very quickly

We live in an affluent and desirable area.  Bungalows are snapped up very quickly.  There is a road near us that has separate large individually built houses with gorgeous gardens.  We call it “millionaires row” as they rarely sell for less than £1m.  They don’t come up for sale very often but when they do they are sold very quickly.  

Every area is different.  

ReadingTim

Suggest you put yourself in the shoes of a potential buyer: you're looking for a 3 bed place, ideally detached, 20 mins walk from the town centre and have c.£375k to spend - how does your place compare to the competition?  If it's not one of the top picks, then you probably need to reduce your price until it's one of the most attractive propositions at the price being asked for.  Unfortunately, what you need to achieve from this sale has no bearing on the value of the place, and if that means you can't afford to move or have to scale back your moving ambitions somewhat, so be it.  

That said, you are getting viewings, so hopefully you won't have to adjust the price too much further.  The winter was typically a slower time of year, but with the advent of the internet that's perhaps less true than it used to be - I think Rightmove once claimed Boxing Day (or was it New Year's Day?) was the busiest in terms of traffic to their site.  It does only take one buyer, but it's up to you as to how long you want to wait, and if don't, then how far you can reduce the price and still allow you to move.  

In short you need to ensure your aspirations match your budget, but you can't expect your buyer to make up the difference.  

jj_home_80

I agree with above. Every area is different and it does take only one buyer. The right person might come along and the deal is done. Just keep the ad going. Sometimes even lowering the price won't do anything to it as potential buyers are simply not there. Stick with it if you can.

I would also make sure that house is in good nick if it stays vacant or something like that. Make sure roofing is all solid etc.

LoopyLoops

Are the houses you say are on at more selling?  What is the price of a larger 3 bed nearby, or with a bigger garden, or even a 4 bed?  Are you lower than these? Have a good look at your competition, particularly those that have come on to market and sold relatively quickly.  See what they are like and how they are priced.  

We’ve been looking for a 4 bed.  There are some on the market that are very overpriced (in our opinion) and been sat for a long time.  Others go on and sell very quickly. The only ones in our area that are sitting are the ones that aren’t good value for money.  Location has an influence on ones we view.  We haven’t even considered ones on busy roads for example.  We decided the large town near us was a no as lots of new builds / small bedrooms / busy roads. And these things are important to us to avoid.  So we have gone with a village, but not too far from town.  We got more house for our money (would still have liked a slightly bigger garden, but that’s a compromise we have made for bedroom size).  We love the house. 

RHemmings

twopenny said:

Down here we too have bungalows that have been on the market for a long time. It's very unusual.

This has been going on for the last year or so.

Here  in Leicester too I've seen bungalows hanging around for a long time. All the ones I looked at in 2023 are eventually off the market now. I think some were withdrawn after simply not selling. 

ReadySteadyPop

RHemmings said:

twopenny said:

Down here we too have bungalows that have been on the market for a long time. It's very unusual.

This has been going on for the last year or so.

Here  in Leicester too I've seen bungalows hanging around for a long time. All the ones I looked at in 2023 are eventually off the market now. I think some were withdrawn after simply not selling. 

This is happening all over now.