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Why is it so hard to sell a 3 bed semi in Leeds?

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  • kelpie35
    kelpie35 Posts: 1,781 Forumite
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    Look guys
    If you are just going to insult me for the sake of winding me up-don't bother!!
    108 is taking the absolute puss for a 3 bedroom semi/terrace whatever and I'm sure you wouldn't even consider it if it were yours.
    What I was expecting was sensible suggestions about how to sell it for 130k not people acting like !!!!!! and insulting me.
    If you are really such professional punters how come you know so much more than the agents who put it on for 139 originally?-don't you think they would have told me if it was I being unrealistic at 130?

    With that sort of attitude I would not give you viewing time.

    It will be interesting to see how long it remains for sale.

    OP you need to get into the real world.
  • agrinnall
    agrinnall Posts: 23,344 Forumite
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    If you are really such professional punters how come you know so much more than the agents who put it on for 139 originally?-don't you think they would have told me if it was I being unrealistic at 130?

    I refer you to my post #11 and Rain Shadow's post #36 (among others).
  • phoebe1989seb
    phoebe1989seb Posts: 4,452 Forumite
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    edited 9 August 2016 at 12:10PM
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    silvercar wrote: »
    Immaculate.....elegant decor????

    It's got an avocado bathroom suite!

    This ^

    Sadly, I have to agree with everything already mentioned. I would see it as a renovation project and for me that would mean changing everything including the windows......I hate UPVC and would want to replace with timber :o Of course just because I don't like the windows doesn't mean the price should reflect changes I would want to make, but nonetheless for a house that is described as "immaculate" and "elegant" I would expect something far more classical/timeless not dated and obviously untouched for several [STRIKE]decades[/STRIKE] years!

    I sympathise though, as we had to sell my parents' home of 40+ years in 2012 when they both had to go into a nursing home. Their house had its fair share of (expensive ;)) patterned carpets and green emulsioned anaglypta! However, it also had a 2007-fitted shower room, recently fitted windows (brown UPVC!), a solid wood kitchen that could have easily been painted to give a more on trend look and timber internal doors matched to original 1920s ones they took out when they 'renovated' forty years previously ;) It was also in an area very popular with families looking for their next step on the ladder and houses rarely came in the market, borne out by the fact that some neighbouring houses had not changed hands for twenty-odd years.

    We considered neutralising everything, but on the advice of our (trusted) EA we decided against. Nor did we remove the dated but good quality furniture - indeed our eventual (first time) buyers asked if they could buy some of it - although we did do a serious declutter! The garden was already tidy as we had been keeping on top of that for them......

    Even so it took a (small) price drop to see significant interest. Then we ended up with back-to-back viewings and several asking price offers.

    We also sold our own house in 2014. It was a fully restored and tastefully extended, fairly large rural period house presented in a timeless style. It truly was "immaculate", but even so we had to reduce the price to secure a buyer as the market in rural Wiltshire was very slow. As we seriously wanted to move on we were prepared to be realistic in our expectations. Once we did this we accepted an asking price offer within five days.

    Sorry, but it's definitely the price, OP.......reduce it to something more realistic and it should sell quickly.

    Good luck!
    Mortgage-free for fourteen years!

    Over £40,000 mis-sold PPI reclaimed
  • poppy10_2
    poppy10_2 Posts: 6,575 Forumite
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    If you are really such professional punters how come you know so much more than the agents who put it on for 139 originally?-don't you think they would have told me if it was I being unrealistic at 130?
    People have answered that question several times. They give you an inflated valuation to draw you in to signing with them.

    You've had advice from so many people here. None of them are trolls. I've never seen a thread where there has been such a unanimous opinion. Your house is well overpriced.
    At the minimum you should be stripping out the dated furniture, and the wreath in the back garden. Even then though, you aren't going to get close to the price you want.

    With house prices starting to fall after Brexit vote, you'll be chasing the market down. No sense in sitting tight and trying to hold out for a better price when house prices are falling all around you. Grab what you can get while you can - don't take it personally.
    poppy10
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
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    Just in case anyone missed this.

    It is an end terraced not a semi detached.
    It has a shared drive.
    It looks to me like an ex local authority house. I say this because if you look on street view you can see that it is in an area with a large more modern council estate further up the main road.
    This is not what I would call a desirable area.
    There is a dryer in one of the bedrooms which gives the impression that the kitchen is not big enough for all of the appliances which also means that most people would want to knock about 10k off the purchase price for a new kitchen. That is before you start on the rest of the house.
    There is only off street parking for one car and that is in the back garden. This is due to the shared drive problem.

    The reasons why I wouldn't even view it at any price include the area that it is in, the shared drive and the distance from the nearest train station.

    So since there are 3 reasons why I wouldn't even go to look at it whatever the price you need to work out what price will get people who might be interested to go and view it. Obviously 130K is too much because people haven't been going for a look apart from the person who offered 108K.

    A house is not worth what you think it is worth or what the estate agent told you it is worth. A house is worth what someone will give you for it. So if the most that someone will give you for a house in that condition in that area is 108K then that is what it is worth not the imaginary number that the estate agent has come up with.

    I personally think that for that type of area 108K is a very very good offer. I would have expected it to be nearer to 100K. The point is that if you have got 130K to spend on a 3 bed house you wouldn't spend it there. So you have got to have a cheaper price than that IF you want to sell it.

    This was your dad's house. It did him well. You now sell it for what you can get for it. What you get for it doesn't devalue the life that your dad had living in it. It was his choice but it now needs to be upgraded to suit someone else.
  • nkkingston
    nkkingston Posts: 488 Forumite
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    Oh hey, we actually checked yours out on rightmove while we were looking for somewhere to buy in Leeds, but it didn't make our list of viewings.

    + lots of storage
    + in our price bracket
    - avocado bathroom suite. OH said he could live with it, but I'd have wanted to rip it out before moving in. Also, bathroom appears to be carpeted, which was a no for both of us
    - Bramley was a bit of an awkward area for us for commuting. Would have had to have been a real steal to make the extra effort
    - kitchen it a decent size for Leeds, but we wanted bigger
    - could get more for our money elsewhere, with less work needed to make it feel like home

    Honestly, I think the market in Leeds is already slowing with Brexit news, and we'll be lucky if prices hold rather than drop. It's a multi-cultural city, and a bunch of its inhabitants may well be forced out in a couple of years time, at which point there'll be lots of cheap houses on the market. You want to get it moving now.

    I think you'll find it easier to sell if you redecorate not just because it'll appeal more to buyers, but because it'll feel less like your dad's place. It's hard to change somewhere you loved for years, but if you can't detach yourself from the house to start selling it properly, how are you going complete the sale?
    Mortgage
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  • seven-day-weekend
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    Cakeguts wrote: »
    Just in case anyone missed this.

    It is an end terraced not a semi detached.
    It has a shared drive.
    It looks to me like an ex local authority house. I say this because if you look on street view you can see that it is in an area with a large more modern council estate further up the main road.
    This is not what I would call a desirable area.
    There is a dryer in one of the bedrooms which gives the impression that the kitchen is not big enough for all of the appliances which also means that most people would want to knock about 10k off the purchase price for a new kitchen. That is before you start on the rest of the house.
    There is only off street parking for one car and that is in the back garden. This is due to the shared drive problem.

    The reasons why I wouldn't even view it at any price include the area that it is in, the shared drive and the distance from the nearest train station.

    So since there are 3 reasons why I wouldn't even go to look at it whatever the price you need to work out what price will get people who might be interested to go and view it. Obviously 130K is too much because people haven't been going for a look apart from the person who offered 108K.

    A house is not worth what you think it is worth or what the estate agent told you it is worth. A house is worth what someone will give you for it. So if the most that someone will give you for a house in that condition in that area is 108K then that is what it is worth not the imaginary number that the estate agent has come up with.

    I personally think that for that type of area 108K is a very very good offer. I would have expected it to be nearer to 100K. The point is that if you have got 130K to spend on a 3 bed house you wouldn't spend it there. So you have got to have a cheaper price than that IF you want to sell it.

    This was your dad's house. It did him well. You now sell it for what you can get for it. What you get for it doesn't devalue the life that your dad had living in it. It was his choice but it now needs to be upgraded to suit someone else.

    Spot on. I too thought it looked like an ex-local authority house. So that will limit the number of buyers before you have even started.

    OP, it's not dishonouring to your dad to sell it cheap. Let it go and then it can be a lovely family home for someone else.

    Another option is to keep it and rent it out - still it will be a nice home for someone, but you'll have to update it a bit.

    I hope you have some good news soon.
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • spadoosh
    spadoosh Posts: 8,732 Forumite
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    I dont think the OP is worried about dishonouring his dad, There has been no mention of how much his dad paid for the property (no doubt there is some serious return on investment!?). I just think they feel dishonoured because no one else thinks its worth as much as the one estate agent suggested it was. Think its more likely a case of counting chickens using eggs. OP thought they where getting x amount but is now upset the suggestion is they will receive less.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
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    nkkingston wrote: »
    Oh hey, we actually checked yours out on rightmove while we were looking for somewhere to buy in Leeds, but it didn't make our list of viewings.

    Are you listening, OP?
    + lots of storage
    + in our price bracket
    - avocado bathroom suite. OH said he could live with it, but I'd have wanted to rip it out before moving in. Also, bathroom appears to be carpeted, which was a no for both of us
    - Bramley was a bit of an awkward area for us for commuting. Would have had to have been a real steal to make the extra effort
    - kitchen it a decent size for Leeds, but we wanted bigger

    That's all personal preference, but...
    - could get more for our money elsewhere, with less work needed to make it feel like home

    THIS is the thing you're denying, and claiming we're all clueless trolls. Now you're hearing it from somebody who actually looked at your house details, and crossed it off for EXACTLY the reasons you've been told...
    Honestly, I think the market in Leeds is already slowing with Brexit news, and we'll be lucky if prices hold rather than drop. It's a multi-cultural city, and a bunch of its inhabitants may well be forced out in a couple of years time, at which point there'll be lots of cheap houses on the market. You want to get it moving now.

    ...and this is basic common sense.
  • Out,_Vile_Jelly
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    What I was expecting was sensible suggestions about how to sell it for 130k

    Make a placard with enticing photos of the carpeted kitchen, 80s bathroom and bedroom tumble drier and walk round the nearest town centre shouting that it's available for £130k and anyone who doesn't want it is a massive idiot and ungrateful !!!!!!.
    They are an EYESORES!!!!
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