Sure we are underpriced but few viewings(26 Posts)
We put our house on the market 3 weeks ago at 10k below the lowest valuation because we really want to sell quickly. I was sure that the house would be snapped up straight away as it's in a very desirable location but 3 weeks later we have had only 3 viewings.We've had no feedback although one viewer did say when he was here that it was much bigger than he expected.
What would you do? Estate agent doesn't seem to be worried but we really need to sell quickly. We would happily take an offer below the asking price but don't want to give it away!
I don't really want to share the details on here
If "bigger than expected" is the only feedback you've had, does that suggest it's "too cheap" for size? I know it should be obvious how big somewhere is (sq foot / room sizes etc) but any chance it's coming across as too much of a bargain, which then worries the buyer as to why it's so cheap?
Otherwise, be really detached ...., is there anything that might be putting viewers / buyers off that you could change relatively easily?
What's the market like with you? Someone put their parents' house on here recently for comment - one of which was that it was quite a large, therefore expensive house relative to the area. Meaning there was a limited market. So, notwithstanding the odd cosmetic touches which may be your taste rather than mine, it stood to reason it might take longer to sell just because there's so few people looking for house that size in that area.
Link would help.
Where we live the housing market has ground to a halt due to all the new builds - massive development everything seems to end up reduced before it sells!
It could be weirdly too cheap? If something is on suspiciously low then people. Au think there's something horribly wrong with it.
Estate agent isn't worried as it's Easter in little over three weeks and there is usually a rush at Easter
I would probably look at it online and wonder what was wrong with it if it was going so cheap. I think I'd be thinking of the caution, if it seems to good to be true, it probably is. I'm not sure how helpful that is though sorry.
Is it being marketed properly? Does it come up in the right area and categories on Rightmove?
What part of the country are you in? Is it normal for houses to take a while to sell?
How sure are you about the accuracy of he valuations? What else is available for the same price? Are there nicer, bigger, better located houses available for the same price?
If you're not getting viewings (and it is being appropriately marketed) it is usually the price.
My neighbour had this recently and imho his valuations were unrealistic.
I'd have put it on at the "correct" price and taken a lower offer.
Problem is rightmove searches. If i have a budget of 300k, i'll search 300-350, in the hope that a higher price will accept an offer. I won't search below budget because those houses won't meet my criteria for the money i have. The only time i would is if I was prepared to do work, but if your house doesn't need work it will be dismissed.
3 viewings in 3 weeks isn't actually bad in the area that I live (south Norfolk). I would check things are actually selling before you assume it's something you're doing wrong. Some areas are very slow.
Thank you all. I do think it is quite slow at the moment - hoping things pick up soon.its quite difficult to completely detach yourself but I do think that the photos don't do it justice. Dh thinks it's overpriced by 10k. I'm thinking that it's underpriced which is putting people off. Prices are also quite inflated in our immediate area so unless you want to live exactly here, you could get a lot more for your money 5 miles away.
I guess we just have to wait.
I wouldn't despair - I've had 2 viewings in 6 months!!
I'm too scared to link to it on here. Will message a link though if anyone fancies a nosey!
Send it to me! I will be kind and helpful, promise
I'm an aspiring house doctor and about to embark on a project to maximise the selling price of a property my family have inherited.
Things I will be focussing on are all quite obvious, so you may already have thought of them, but just in case anything here is helpful...:
Kerb appeal, tidy, now, paint, plant front garden and drive area so that drive-by viewers will want to have a look inside.
Making sure the walls and floors are light and neutral. You may love a bold feature wall but it can be off putting. This isn't your home anymore - you need to let it go so that you can move on, so start detaching from it by changing the decor.
New carpets if needed. (I appreciate for a quick sale you might not want to spend time and money but this may be an investment worth making if it hurries things along)
Making sure it smells fresh (no smoking, pets, overbearing air fresheners etc) while on the market - even if you think your house doesn't smell, to someone else it might do. Put cat litter trays outside and perhaps try to send dogs next door for half an hour during viewings etc
Clearing the majority of personal possessions. People want to imagine themselves living there, so while your collection still and photos make it feel homely to you, they do the opposite for a buyer. Start your packing early and get things out of the house. Even if you fill the garage with boxes ready to go, the house will be clearer.
Using rooms for their intended purpose. Some people are stupid. If you don't put a bed in a bedroom they won't be able to imagine it with a bed in it! Obviously most of us can see past these things, but if your viewers are some of those who can't then you're stuck.
Freshen up kitchen with new worktops or tiles if needed to modernise it. Don't spend a lot unless you're prepared to completely gut and replace, as it may not be to everyone's taste anyway, but it's one place (along with bathrooms) that needs to be clean and clutter free.
Does your agent know about local schools and amenities? Important to be able to sell it properly.
These seem to be the staples of most property programmes I watch, so I'm sure you'll have already thought about most of these, but if not hopefully some of them might help?
3 viewings in 3 weeks is pretty good so don't get down heartened.
So you think underpriced and dh thinks overpriced - this indicates that the valuation really isn't clear? Presumably there are no comparable properties for sale? All you can then is go by viewers feedback. I honestly think dh is more likely to be right. I don't think underpriced would put people off coming for a look surely? Then they can see for themselves and engage a full survey etc.
Also if you aren't happy with pics, let EA know. Was it an online agent?
MissDuke - yes you're right - although there are similar properties there is nothing exactly the same. It's a local ea - think they are surprised as well. Thanks to those who have said they would have a look. Will be interested to hear your thoughts
Definitely get the agent to redo the pics or do some yourself. Most houses I've viewed are not as nice as they look on the pictures - it shouldn't be the other way round.
Our old house was valued st £150k in the slump during 2011
I put it in at offers over £130k
Got a cash buyer 2 days later
How much of a hit are you willing to take?
I'd assume it needed major works if it was noticeably underpriced compared to similar properties. Does the advert explicitly say 'in good condition, priced low for a quick sale'? If not, add that in.
Also as someone mentioned above, you may be falling into the lower pricing bracket on Rightmove, meaning that prospective buyers aren't actually seeing it.
I'd also assume that it needed some serious work if underpriced and probably wouldn't bother viewing.
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