Another one - no interest in house

RHemmings

ginvzt wrote: »

So you know now
When we put the house on the market, we put below the price of exact the same house as ours. None of the 3 bed houses on the estate sold in the last couple of months, on the other hand, so it is quiet at the moment.

Also, in the area we are looking to buy barely any houses sold until last week and now a few of them seem to come under offer.

Any chance of market picking up over next few weeks?...

Twelve properties sold on your road in 2006, seven in 2007. And it looks like a really small road on the map. All the properties in it have the same postcode. That seems pretty active. Your EA has a number of properties for sale in Sileby. So, given the high level of sales activity, and their familiarity with the area, you'd expect them to be able to give you a pretty accurate description of what's going on.

With the conflict between the expectation of a "spring bounce", but also the developing restriction of mortgage availability, I think that predictions for the next few weeks would be a complete crap shoot.

Are those Apistogramma ramirezi?

ginvzt

I lost hope on my EA. Might do some "mystery shopping" tomorrow and see if they try to advertise it to a 'potential buyer'. I just wish the tie-in period would end up (another 6 weeks to go).

ginvzt

Being optimistic doesn't hurt. I don't expect much though...

Pez2

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.

So you're assuming that the value of your property has gone up over 10% in the last 12 months? Even taking into account that you've done a bit of work on it that seems very optimistic in the current climate.

Benefits_Blagger

ginvzt wrote: »

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

nearly every thread i read (and theres quite a few now) about people not getting viewers all seem to have quotes like this in common, i.e. our property is priced simliar to others, so we cant be overpriced!

first of all you need to realise just because it is priced similar to yours, doesnt mean it is going to sell for that, chances are they are having the same problems as you.

i think a lot people need to wake up and realise that this is 2008, not 2006 anymore, the housing frenzy of the past decade is well and truly over! the evidence for this is in front of your own eyes by your very post.

due to the credit crunch, unavialableity of mortgages, high prices, etc, etc supply now outstrips demand. the similiar types/prices of property people talk about are in direct competition with you. you need to undercut them before they undercut you.

dwsjarcmcd

ginvzt wrote: »

Any chance of market picking up over next few weeks?...

Not a prayer! Lenders are going to get tighter on their criteria and mortgage deals more expensive.

David

dubsey

I agree with the posts, the house does look well presented but you cannot judge price by what other similar or identical houses are on the market for. People around here with houses on the market still seem to be saying the same things, "mine is nicer because (larger garden/more parking/nicer decor/extra bathroom etc etc) and it's a few thousand less than the others so ours should go first surely. The problem is that even in a rising market things that are important to one buyer are nothing to another, so unless you have an extra bedroom or an extra reception room they are the same. The only seperation is price. If the others are £5k more but not selling, I think the incentive for any prospective purchaser needs to be great if you're going to get them through your door and not one of the others.

johnycoldears

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.

I think you've answered your own question here.

Bought within the last 12 months for £135k + £3k spent = £138k.

Latest Nationwide figures indicate price falls for the last 5 months giving an overall year on year increase of 1.1%.

According to that your house is "worth" £139.5k if bought 12 months ago. Add to this the fact that you are selling into a falling market and therefore need to undercut the competition in order to sell.

Yet amazingly you think your house has increasedin value by almost 10% to £150k and are somehow surprised that it won't sell.

tomstickland

On at £149,950.

We bought the house for £135K a year ago and did work on it for about £3K.

we have a healthy company relocation budget...

Stick it on at £138K then.

WTF?_2

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?

Reduce your price until it's appreciably below the competition. Then your house will be the one that gets the viewings. Be prepared to sell for at leeast 5% less than your asking price too.

When you get the cash from the sale, shove it into a safe bank account like one of the NS&I products and then rent for 6-12 months before even considering purchasing another house.