No enquiries - are other sellers in the same position?

tomstickland

Download Mozilla Firefox (alternative internet browser), download the property bee toolbar and look at houses within 5 miles of yours. Watch the prices.

I've been monitoring prices where I live for a few weeks now and about 1/2 have dropped their prices.

panichousebuyer

PasturesNew wrote: »

The most any house has EVER sold for in that road is £145,000.

That puts you significantly above that ceiling price.

The £145,000 was at the peak of the market.

I suspect this is the start of the problem.

In fact, EVER, only 46 houses in the HU8 area have ever sold for more than your asking price.

For the price, this is one of your competitors:
http://www.rightmove.co.uk/viewdetails-10297557.rsp?pa_n=1&tr_t=buy

By comparison, this competition looks like it's better placed. And the photography is brighter. Your agent photos make yours look a bit gloomy. The photos can be improved either by lightening them, or doing them again.

I'm afraid you have to understand the layout of the street really. There are a lot of cul de sacs off the close which have sold for approx 220ish. There is one opposite for 219 and one up the street for 269 (they are both bigger houses).

panichousebuyer

Thanks for all your help. Will post the redone photographs, when they have been taken, for your constructive criticism!!

WillowCat

I agree the photos need to be improved on.

BUT - and this is my pet whinge - I've no idea of the square footage/meterage of the house.

The property looks to be a really good size - the room sizes are better than average and you've got a breakfast room and study too.

I bet it's 50% or more bigger than the developer built 4 beds given as a comparison, yet they'll both be marketed as "4 bed".

OK I'll get off of my soap box now!:D

Bf109

Its too expensive. Its not worth that much money. Thats why you have had no viewings. Re-taking photos is re-arranging deck chairs while the ship sinks.

Simple as that.

amcluesent

Are you on the Hull flood plain? Just asking, as Hull=flooding for lots of peeps.

puddy

panichousebuyer wrote: »

Don't be too harsh!!!

By the way our street is a little bit different because our houses are all different because they are self builds. However the surrounding area was built by Wimpy, Barratts etc!

http://www.rightmove.co.uk/viewdetails-17707258.rsp?pa_n=3&tr_t=buy

looks good to me. makes me realise that my photos wont necessarily look that good when the estate agent comes tomorrow, ive got a lot more 'stuff' in the kitchen and other rooms.

puddy

Graeme7777 wrote: »

Hi,

I've been looking online for a new home for quite some time and am continually amazed by the poor quality or lack of photos for many properties.

If there are no photos, if they are of lousy quality or are only of inconsequential items then I move on to the next property. I can't comment on the accuracy of your pricing but as a potentially buyer I can strongly suggest that you or your agent needs to get good photos. It's not at all difficult and can make a big difference in marketing your home.

Good luck with your sale!

omg you are so right, ive been waiting some months to get my property ready to sell, in the mean time, im on rightmove every flaming day, checking that the flats i like havent been sold yet. i didnt want to view anything until i can say 'my is on the market' in case i saw one, fell it love with it and couldnt make an offer.
anyway, the point is, i am amazed at the lazyness of estate agents. at this this seller#s house has lots of photos, normally there are just one or two, sometimes the same picture twice, sometimes no description of the inside and no measurements, it drives me mad. the one thing i also cant stand is that for flats, they never say what the likely maintenance is.

puddy

SquatNow wrote: »

If you want to sell you need to slash you asking price.

The value of anything is what someone is prepared to pay for it. The value is affected by many things including market coditions such as the availability of credit. If the ability of the house buying public to borrow is cut by half, the value of your house is cut by half. Thus if someone who previously was offered a 95%LTV mortgage can now only get a 90%LTV mortgage, their abaility to buy is halved... their £10k deposit now only gets them a £90k mortgage instead of a £190k mortgage...

True there are cash buyers but the price they pay is set by having to outbid other buyers. If the other buyers can only get a mortgage for £90k+£10k deposit, then the cash buyer only needs to offer £101k.

You think your house is worth £xxx. The market thinks it is worth less. The market is right, you are wrong. You need to reduce your asking price until it meets the markets estimated value.

Knock £10k of every week until it sells.

Simple Rule: Until the buyer cash is in your pocket, your house is worth exactly £0

is it just me being dim, i dont understand why a drop from 95% to 90% ltv means someones borrowing ability is halved???

confused31_2

I think the house looks okay, if it was by me for that much i would definately be interested, thing is where i live an house like that would cost about 300,000.

I wouldnt rush into things,even if your in a rush if you are buying somwhere else see if you can get what you reduce of yours of your next purchase.

Its okay dropping your house down 150,000 and selling it but just think how much extra you will have to borrow if the person your buying from doesnt drop their price.

my house as been on the market since november, but to be honest i havent seen many reductions, but then again i havent seen manyt sold signs either.

If i got the asking price for mine i would be able to take the step to get the house i want, but bottom line i cant see me getting asking price and if i dont i will need to get it off my next purchase.

In going to wait for the houses to come down that i like, then i will work out what i can afford.

confused