4 Weeks - no viewings!

adsk · 23 May 2019 at 10:05PM

Several posters have identified very similar properties locally that are on the market for less and haven't sold. The only reason you need to take it off the market to rent out is that the price you are marketing the property at is not the market price. The other local vendors also need to take this on board.

The leasehold situation makes the situation worse.

Other new builds locally which will have help to buy and other incentives and will now be freehold are your 3rd challenge.

Drop your asking price *significantly* and people will view and make offers.

markin · 24 May 2019 at 2:03AM

The floor plan is too small being side by side, and not every room marked with the size, if im reading it correctly yours is 120 SqMeters Vs 95 of the one posted earlier at 220K, But the main point is yours seems better layout with the kitchen/diner, In fact i think i would want the SQM at the top of the description.

This floor plan is so much clearer, and easy to read.

https://www.rightmove.co.uk/property-for-sale/property-80136161.html

If it wasn't for so much competition i think it should get the 250k at least.

getmore4less · 24 May 2019 at 7:57AM

Looking at what is for sale is of very little value you need to look at the SSTC as this is what people have been viewing and buying.

3miles 0-650 inc SSTC
price....4b......5b+
0-210 037/31 01/03
0-220 043/36 01/04
0-230 047/40 01/04
0-240 055/43 03/05
0-250 062/45 03/05
0-260 077/48 03/05
0-280 091/58 06/05
0-300 112/59 07/07
0-max 152/81 49/16

plenty of action under £250k.

if we focus in a bit on 240-260 detached only

0-240 21/13 2/1
0-250 25/14 2/1
0-260 40/17 2/1

£260k
£254k
£250k
£240k
...
£210 5bed

but there are another 12 SSTC below £240k

someone went for this at 265k

All the new builds cannot be helping this price bracket..

next look at the sold though to see what people are really paying, these were those viewing places a few month ago.

need_an_answer · 24 May 2019 at 7:59AM

AH15 wrote: »

Thanks for all the advice.

We are in the process of relocating so do have the opportunity to rent the property out rather than sell - which I think we will be doing.

The hot tub is being sold separately so need to add in that but add in comments re electrics being in place.

I will liaise with EA ( who aren’t very proactive) and change some photo’s / descriptions but unfortunately somethings I can’t change I.e. proximity to shops / trains / change the garden.

Thanks All

Can I ask how far away you are relocating?
If you are looking at renting do you really know whats involved and the potential costs that you are still likely to incur?

Renting is not always the most cost effective option in some circumstances and you could end up feeling that 2 years down the line you have a huge elephant in the room that costs you more than it actually brings you as income.

You really will need to crunch the figures hard and decide if you want to be involved in running a business for your rental as you will become a LL responsible for the property even if you hand the day to day running of it to an agent at a fee.

potentially it may be better to take a £hit now and reduce the price rather than going the rental route. Even the best tenants will not cherish your property and hold it in the same esteem as you do being your family home.

Cakeguts · 24 May 2019 at 9:02AM

The problem is that the very problems that make it difficult to sell will also mean that you won't get the choice of the best tenants.

need_an_answer · 24 May 2019 at 9:18AM

I've just done a rental search of the area and there don't seem to be many properties listed within a 1mile radius.

Is there much of a rental market for your type of property and what sort of rental value would it achieve?

Thrugelmir · 24 May 2019 at 12:20PM

AH15 wrote: »

We are in the process of relocating so do have the opportunity to rent the property out rather than sell - which I think we will be doing.

May seem the easiest option. Doesn't resolve the fundamental issues though. Nor is there any guarantee that letting will be highly profitable.

ethank · 24 May 2019 at 4:32PM

AH15 wrote: »

The houses marketed at the £220k - £240k are smaller than ours or don't have the additional dining room area downstairs plus are on the main road within the estate - lots of vehicles where as we are in a quiet cul-de-sac.

The dining room is probably the only thing that will add value. People don't pay more for quiet cul-de-sac or being away from a main road. None of these things are likely to add thousands of pounds in value. They probably make your place more saleable against other properties at the same price.

Mickygg · 24 May 2019 at 6:33PM

Leasehold has been in the news recently and a lot of people are staying away from these. 4 weeks no viewings simply has to be price.

diggingdude · 24 May 2019 at 6:59PM

Leasehold would be the killer for me. It may be how it's done in St Helens but people are beginning to say "I don't want Leasehold" now. It the costs are cheap may be worth advertising them prominently.