House not selling!

Jake54

We have had our house up for sale since mid May
We haven't had nobody out
We dropped our price, alot but still have had no one out!
And I know quite a few people in the same boat.
I know of someone who has advertised all over the country in major mags and still has had no one out.
We keep checking to see if our house is reasonably priced and it is.
The trouble is, or was,
the BoE took to long to raise rates too slow the market down and now they are stuck, too dropping rates because of the hike in fuel prices
Plus
The Bloody media can either make or break it.
You remember all the negatives they were spouting off about the housing market before it cooled off.

Their are people out there sitting on the fence.
People who have sold, and first time buyers, waiting for the market to drop further , or at least stop dropping, or even to take off again.
Then when some of them start to buy, and the rest start noticing this one and that one has been sold they won't want to be left behind again.

You have to sit tight and ride it out
If you have buggeted a price in mind stick to it :beer:

If I'm wrong, Please put me straight

Jake54

Not only that.
I've seen properties drop their prices and change EA's and it has not made a blind bit of difference.
There's someone I know, who has drop below the Stamp duty threshold, and they still have not had any offers.

If we are 'all' not selling it's just the way the market is.

('at the moment') Although if the BoE cuts the rates again, then there be more movement).

dprovan

sorry created in error

Woby_Tide

Jake54 wrote:

We keep checking to see if our house is reasonably priced and it is.

If you have had no viewings, how are you clarifying that it is reasonably priced?

leftieM

I agree with meanmachine. Because of the change in stamp duty rules a house on at around £130K is going to be unattractive on paper to most FTBs. If you want viewers you probably need to think about dropping your asking price below 120K and hope that you get viewers in the door. If your house is desirable you might start a bidding war and get a good price anyway. However you've got to lure people through the front door first!

meanmachine_2

Woby_Tide wrote:

If you have had no viewings, how are you clarifying that it is reasonably priced?

Sure, vendors are pricing their properties at the same level as their neighbours, but if no one's selling, then it's all pretty academic.

I do think potential buyers are in a wait and see mode. I am.

To be honest, I'd only seriously consider buying if prices began lifting off again. I literally couldn't afford to do nothing in that scenario, but I doubt that's going to happen again unless the BoE cuts rates to below 4%.

But who knows?

Jake54

1.Experience for one. Year's of buying and selling.
2.What Type of property it is,
3.Where it is, (location)
4.The price of other properties in and around the area.
5.The different types and sizes of properties in and around the area
6.Comparing who has what to sell.
7.The state of the property, internally
8.People I Know, who have had veiwing's, have not had any offers or more veiwings for a while.
9.People in other and much lower priced area's I know with property, reasonably priced are not selling
If I changed EA's it would make no difference
I have dropped £50,000.
If I dropped again it would make no difference.
And I'm not giving it away.
Also because it is in a higher bracket and where it is therefore a smaller market.
We have narrow lanes which may bother some people nad not others.
We are up on high ground with veiws.(not that that's anything to do with it)
It is a buyer's market, and the buyer's arn't buying. 'Their fence sitting'

And I also know a couple of fence sitters who are
1.waiting for the prices to stop falling.
2.and waiting for another interest rate cut
So that's how I know

Jake54

I Now have a ?
For 'meanmachine', 'Woby_Tide', and 'leftieM'


1.Do you own your home or rent
2.Are you first time buyers
3.Are you selling.
4.Are you buying
5.Or are you staying put

Jake54

Sorry stonk.
Same ?

Woby_Tide

not one of your points references other houses that have sold and what price they went for. If no-one is selling, then whilst it's true buyers may well be waiting but it also indicates that all sellers, aren't actually reasonably priced?

for your other

1. Own
2. No
3. No
4. No.
5. Never say never