Another one - no interest in house

ginvzt

I am sorry if some of you are fed up with the sellers asking advise on what to do.
I have received a letter from EA (they haven't even bothered to call and discuss!!!) 'suggesting' to reduce the asking price.

The rightmove link is here:

Exactly the same house, surrounded by road behind the garden and to the side is at the market at £154,950:

I agree why may need to reduce the price. But - by how much? I don't want it to look that we are desperate. We are selling the house due to job relocation, so we do need to sell. But I still work in the area, so I don't mind holding on it for a bit longer.

We came on the market first days of February and had only 1 viewing. The house was on rightmove from mid February and in local paper twice. Haven't seen in EA's window since the beginning, but again - I am not passing it everyday, so can't be sure of that.

What you advice would be? If we should reduce the price - then by how much?

e-made-china

Thank you for your information.

withabix

e-made-china wrote: »

Thank you for your information.

Strange first post!

I've reported it by the way, because your signature contains a commercial link, which is not allowed on here (anywhere).

EDIT: Just realised you are a :spam: mer

Griptool

ginvzt wrote: »

I am sorry if some of you are fed up with the sellers asking advise on what to do.
I have received a letter from EA (they haven't even bothered to call and discuss!!!) 'suggesting' to reduce the asking price.

The rightmove link is here:
http://www.rightmove.co.uk/viewdetails-19547294.rsp?pa_n=2&tr_t=buy

Exactly the same house, surrounded by road behind the garden and to the side is at the market at £154,950:
http://www.rightmove.co.uk/viewdetails-17277994.rsp?pa_n=2&tr_t=buy

I agree why may need to reduce the price. But - by how much? I don't want it to look that we are desperate. We are selling the house due to job relocation, so we do need to sell. But I still work in the area, so I don't mind holding on it for a bit longer.

We came on the market first days of February and had only 1 viewing. The house was on rightmove from mid February and in local paper twice. Haven't seen in EA's window since the beginning, but again - I am not passing it everyday, so can't be sure of that.

What you advice would be? If we should reduce the price - then by how much?

It all depends on how much you want to sell - if do need to sell don't fiddle around with silly price drops, knock 10% off and try and generate some interest.

There are 22 three bedroom houses less than £150k in your area so you have to make it stand out.

JoJoArmani

The brochure has loads of info but the rightmove has hardly any. I would prefer to see all the house info on the righmove page.

Looks a really nice home.

I think its just a really bad time to sell.

You could look around and see what IS selling and at what price in your area to decide what price you might achieve - and decide on a new price based on that.

I understand it is very annoying when a house equal to your own is on for 5k more. But perhaps they have decided the price rather than the EA. Perhaps your EA has priced yours cheaper to get you a sale before they get one?

EDIT:- Just seen - there are new builds near you going for £5-10k less than yours. I think you need to be priced competitively to beat these houses - lots of buyers will to tempted by the new builds...

Best of luck!

ginvzt

And most of those houses below £150K are terraced, ex-council and dodgy area of the town.

We bought the house for £135K a year ago and did work on it for about £3K. I wouldn't like to loose money on it as we still need to afford the house in the new location.

Save4ArainyDay

Suggestions

Get a different photo of the lounge - it looks really odd shape on Rightmove

Contact Rightmove because your link "Full Brochure" is not working

Paint dining room wall a lighter colour

Reduce by £5000 and EITHER offer to pay buyers solicitor OR pay stamp duty

ginvzt

Save4ArainyDay wrote: »

Suggestions

Get a different photo of the lounge - it looks really odd shape on Rightmove

Contact Rightmove because your link "Full Brochure" is not working

Paint dining room wall a lighter colour

Reduce by £5000 and EITHER offer to pay buyers solicitor OR pay stamp duty

The "Full brochure" is working - I often have this with rightmove - you need to click few times or refresh. It's just playing up....

The lounge is a bit 'odd' shape - as developed cut of a corner for cloakroom...

Spamreported

first impression, nice modern looking home. looking at the pics, i cant fault it.

tomstickland

Likes in very good condition in the photo. Just a price/time issue I think.

I wouldn't like to loose money on it as we still need to afford the house in the new location.

A lot of people say this, and this is how the whole market gets pulled downwards. (Not passing comment specifically, but generally).

Griptool

ginvzt wrote: »

And most of those houses below £150K are terraced, ex-council and dodgy area of the town.

We bought the house for £135K a year ago and did work on it for about £3K. I wouldn't like to loose money on it as we still need to afford the house in the new location.

Market sentiment has turned its a buyers market and there are few buyers,

“Confidence is a very important factor in the housing market and much of this confidence is determined by
expectations of the future path of house prices. When consumers think prices will rise there is a greater incentive
to enter the market, thus supporting demand. On the other hand, if prices are expected to remain static or fall,
the urgency disappears and demand will fade. Expectations of higher house prices will have undoubtedly
encouraged some speculative demand in the housing market over the years, but with lower house price growth
expected now and in the future, the effect will work the other way, causing at least some of this demand to fall
away.

those that still want to buy are struggling to arrange finance

As I said if you want to sell you need to stand out, if your happy to hold on to your house be prepared to make a loss.

The 6- 9 month leading indicators of house prices are the BoE/ BBA lending stats and the RICS stock to sales ratio, both are pointing to significant price drops. Those that fail to recognise the current market conditions will lose money.