Unsellable Falts/ apartments

TTMCMschine

olly300 wrote: »

The price drop would be less if:
1. the flat was cleanly decorated
2. the photos of the property were better
3. the description of the property was better

If a prospective buyer (which is not you btw as you don't like the flats) has a choice between the most expensive but badly decorate flat in a building or a cheaper and better decorated flat it's common sense they are going to buy the cheaper one.

There is no evidence the price drop would be less in this current climate - that's for sure. If sentiment is that prices are dropping - they will drop regardless.
It is common sense they will buy the cheaper one - because it is cheaper, and because the bank will only let them borrow the lower amount! Why on earth would they buy one at the higher price. Why would they not go for the cheaper one even if it wasn't as nicely decorated as you describe? Again another very silly analogy from someone!
I never said i didn't like the flats, i said they wouldn't get a better price just because they decorated it.

real1314

TTMCMschine wrote: »

There is no evidence the price drop would be less in this current climate - that's for sure. If sentiment is that prices are dropping - they will drop regardless.
It is common sense they will buy the cheaper one - because it is cheaper, and because the bank will only let them borrow the lower amount! Why on earth would they buy one at the higher price. Why would they not go for the cheaper one even if it wasn't as nicely decorated as you describe? Again another very silly analogy from someone!
I never said i didn't like the flats, i said they wouldn't get a better price just because they decorated it.

I think you're projecting your own views/opinions/judgement on to the rest of the population.
Ok, YOU can see beyond decor, but not everyone can. Some people will look at 2 houses priced at the same level and will choose the one with better decor over the other with bigger rooms.
Some people will pay 5% more (or more) for a house that's identical bar the fact that the decor is what they want.

TTMCMschine

real1314 wrote: »

I think you're projecting your own views/opinions/judgement on to the rest of the population.
Ok, YOU can see beyond decor, but not everyone can. Some people will look at 2 houses priced at the same level and will choose the one with better decor over the other with bigger rooms.
Some people will pay 5% more (or more) for a house that's identical bar the fact that the decor is what they want.

Likewise - everyone who wants the flat decorated is projecting their own views etc, by their suggestion. In this climate. Not the one last year or the one the year before that when maybe paint did matter, people had that silly luxury to chose. This time the main concern when buying a property is whether you actually can get a mortgage. Who cares how nice it looks if your main concern is that the potential property you might buy, may go down even further if you buy today? Let's get this in perspective, and realise how dire the market is. Remember that last crash when people were giving away cars etc as incentives - i don't think we're far from that situation. If looks mattered that much new build flats would still be the top of flat owners lists - now they lie empty.

Trollfever

Persimmon House, Fulford
York YO19 4FE, United Kingdom
http://www.persimmon.plc.ukPhone: +44-1904-642-199
Fax: +44-1904-610-014

Sector Industry: Residential ConstructionPersimmon is enjoying the fruits of its hard labor. With the acquisitions of Beazer Group plc and Westbury plc, the company has become the UK's largest homebuilder. Through its regional divisions Persimmon designs and constructs everything from social housing to penthouses to homes for first-time and luxury buyers, the latter through its Charles Church division. In 2005 the company built about 12,600 homes in 400 developments across England, Scotland, and Wales. Its land bank is one of the largest in the country, at 78,000 plots. The average selling price of its homes is around ?181,000. Persimmon also undertakes urban development projects.

Have a look at the share price over the last year.

TTMCMschine

Trollfever wrote: »

Have a look at the share price over the last year.

Clearly nice furniture, and a lick of paint's done them the world of good!

Trollfever

Remember that last crash when people were giving away cars etc as incentives - i don't think we're far from that situation.

I have seen this already on RightMove.:rotfl:

dopester

TTMCMschine wrote: »

Remember that last crash when people were giving away cars etc as incentives - i don't think we're far from that situation.

There's been a few instances of this happening in the past 6 months.. like Porsches. Tbh... it's quite a clever idea... as in each case I've read about the seller has acquired a lot of free press about their house in the press. I could dig out a few links but I'm feeling lazy... just believe me.

However what's the use of a 2 or 3 year old Porsche to any buyer when the house itself is massively over-valued and we're entering the world's biggest property valuation unwinding.

Lavendyr

TTMCMschine wrote: »

I'm saying paint wouldn't make me buy the flat. She'll still not get that price for the effort. She'll still have to drop the price.

That's your view, but it's not everyone's. I agree that she'll have to drop the price, and if you look back over the thread you'll see that I have already said as much in previous posts. However I think that it is important to present a place well when you are trying to sell it.

TTMCMschine wrote: »

That's a stupid analogy, you're comparing spending a tenner, to paying out thousands on a property.

The money doesn't matter, it's the principle behind it.

TTMCMschine wrote: »

No i wouldn't buy food that had been dragged out a dustbin, because i'd be worried i'd get food poisoning.

Please re-read my post. I didn't say it "had been" dragged out of a dustbin, I said "looks like" - the key point is there. Food poisoning or any other issue doesn't come into it. In this world, appearances do matter. To put it another way, if you were trying to pitch for a multi-million pound deal, would you turn up to give the pitch in jeans and a t-shirt? It's not the done thing, it's not going to make a good impression, it's not going to win you the deal. That's the point I'm getting at, which you seem to have missed.

TTMCMschine wrote: »

It's excuses as to why houses aren't selling - these are the answers. Nobody wants to buy, because they're too highly priced and they can't get mortgages. Where is your evidence it will sell quicker. Oh wait - did you get it off a property tv show?

Oh dear...if you'd ever read my posts previously you'd know I am a FTB and would very much like a correction in the property market, as even earning £50k between us and with a double-figure deposit, we can't afford to buy a house. But I am being realistic. Your views are not those of the majority. If they were, no one would bother to present houses well when selling, because obviously everyone would see through the mess and the dodgy-looking furnishings. Not everyone is like you, and what's more, not everyone who is not like you is stupid, they just have different priorities.

anne211981

firstly i would like to thank some of you for your helpful responces.
this property will be reduced accordingly. but firstly when the flat went on the market that was the guied price we were given esspically with others in the same block being higher. (im talking my block not a block on the hill or 200 yards away.

But some of the comments i feel are very harsh when none of you have acctualy been and seen the place in the flesh.

the carpets. (omg) are so expensive you couldnt replace them with any better. they have a pile so deep you leave foot prints in it when you walk on it so to hover it would be pointless to try and remove footprints. !!! oh and its green, and wool.

yea the block isnt that attractive granted but its 1970's build that cant be altered in anyway. this flat also has it own rear access as well as front communal access.

unfortunaly the bed room was painted blue to keep my later father-in-law happy. not my choice at all. and we have no funds to re-decorate. and shouldnt buyers go with an open mind. you can make it your own home.

all white goods bar the inbuilt cooker and hob have been removed as family members are making better use of them. people who expect to get a flat with white goods must be ...... well barmy, unless buying a brand new flat. this isnt brand new.

i must admit the pictuers are rubbish, and not having looked at them on the site before now, (mistake i know) i didnt realise just how bad they looked. so a re-picture will have to be apointed ASAP.

anyway, i suppose it hurts to have reality pushed into your face,

Lavendyr

anne211981 wrote: »

But some of the comments i feel are very harsh when none of you have acctualy been and seen the place in the flesh.

Point is, this is what people looking at that Rightmove will be thinking, so they'll never even bother to go and see it in the flesh, not when there are so many better-presented flats, at lower prices, in the same area. You've got some very valuable feedback on this thread and I do sincerely hope that it helps you to a sale.