Problems selling - what should I do?

[Wonderstuff]

We put our house on the market nearly 2 weeks ago, it is a lovely 1 bed but now DD is 20mo we have long since out grown it and I really want to move sooner rather than later. Anyway first weekend 2 viewings, neither interested, since then no interest at all, not one call from the ea in the last week. So we put it on at an optimistic £125K, thinking people would offer lower, but now I think I need to reduce the price. We paid £114K five years ago, I really would like to get back what we paid (obv) but I think we can go down to 110K before hitting negative equity. A survey for the HA valued it at £100K but i didnt get to see the comparisions and 3 estate agents think that is too low. here

[LIZS]

It does sound pricey althgouh I dontl knwo the area at all- maybe 115k asking price woudl attarct more inetrets but ti is stille arly days. I'd suggest repainting the kitchen and bedroom more neutrally and taking stuff off the top of the kitchen cupboards and fridge, but even that is being pretty picky. In the garden (which should be a big selling feature) remove the washing line for viewings and would you be able to pressure wash the patio ?

[Wonderstuff]

Actually the agent has been lazy and is reusing photos from the last time we tried to market it (right before the crash, literally the day they removed fixed rate mortgages, then dd came along, so we put off selling) Clutter in kitchen has been sorted, bedroom layout is different and it does look less pink irl! Actually bedroom looks tiny in that photo, but is quite big.. Will get new pics done.

[smackapacka]

Definitely ask them to re-take photos. Laxy b*stards. You are paying them commision aren't you, so they should be doing their job properly.

[nickytwotimes]

We have just sold after 6 mths slog.
Our initial EAs were lazy too and didn't listent o us about the price - they were marketing it at too high a price imo. After much wrangling, we changed EAs and sold in 3 weeks.
Push them. A lot of EAs forgot how to really SELL during the boom years and are rubbish unfortunately.
I have no idea what prices are like in the area you are in I am afraid, so can't comment there, but go with your instinct.
The photo of the bedroom doesn't really do it justice. A few new phots would be good, yes, though it does look a lovely home.

[Wonderstuff]

Nicky what did your new EA do differently? Was it all about the price?

[IlanaK]

A good estate agent is key. Ours have always had the job of selling flats in our very difficult building so they really work hard. Others are rubbish. To give you one example - a while back when our place was put on the market, I called an estate agent about a place I was interested in. They refused to show it to me as we had not had an offer on our place yet! They were only interested if we could do a quick sale. (This was definately coming from the estate agent and not the vendor). Anyway, months later that property is still on the market and we have accepted an offer on our place. He could not possibly know whether we would be in a position to buy soon or not when he refused us.

[Wonderstuff]

I had thought ours good, they have been around for years (surviving previous recession) seem upfront and keen. They did a feature in the local rag, and specialise in smaller/ cheaper properties. Just looked at Zoopla which estimates 125K but there really are no other flats like ours in the area which does make it difficult to value. I don't know whether to give it another week or not before dropping the price by 10K. FTB's have to have such a large deposit, I'm worried that there just aren't any buyers around. Doesn't help that lots of flats are for sale and lots have been bought by housing associations so FTB's have the option of part buy deals in purpose built flats.

I love my flat! I don't get why people wouldn't love it.

[saggyhairyarse]

I had a look on Rightmove and there is one other comparable property, have you rung up and found how much that is going for.

We have been on the market for ages and at the time we first went to market we knew some parts needed redecorating but thought people come in and do there own thing. Then the market turned and things really did need doing so we have jsut done a lot of redecorating but still nada.

[Wonderstuff]

It is a double bed, there is a cot in there too and another wardrobe and you can still get to everything! Its 10' by 9'6''

[Wonderstuff]

Definitly going to get a new pic done. We have loads in storage. So frustrating.

[CMOTdibbler]

I'd borrow a patio table and chairs and set the garden up with them so that people can see that the garden is big enough to eat out in there.

Maybe some table lamps in the sitting room - looks a bit dark.

If you can, I'd get the microwave etc off the side in the kitchen, also all fridge magnets off, and just put a nice fruit bowl or co-ordinated jars on the side.

Also agree that the picture of bedroom makes it look tiny

[nickytwotimes]

Sorry, WOnderstuff. Had to go last night.

Our new EA took fantastic photos which were unrecognisable fromt he ones taken by our first. They were also far more pro-active with potential buyers and were right on any query they had. The price was slightly lower, but we ended up with more than we expected as there was far more interest. In general, just far more professional.
Good luck with the selling.

[nowwearefour]

i am so sure that in this climate it is all about price. if you havent had much interest and it is on rightmove,lower the price. people can now see what you paid for it and when and so eople are much more price conscious. definitely lower the price.

[whereeverIlaymyhat]

The last flat in your road sold for £102,000 in 2004, we're back to those prices and lower in some areas.
All the table lamps in the world won't make up for an over priced property.

[ABetaDad]

Nowadays the only houses that are really selling quickly are those selling at 20% under where the summer 2007 peak was.

You admit, £125k is optimistic, this is the reason you are not selling. I suggest cut to £115k. Also remember 2 weeks is not a long time.

[Podrick]

Try buying/borrowing some smart garden furniture - repaint the kitchen cream not orange - make sure the price is competitive with other 1 beds in your area

Consider having an open day/weekend for viewings

Good luck

[Wonderstuff]

Yes but whereeverIlaymyhat that property is a studio with no garden...
Have discussed with DH. Going to go for a price cut. I think our major problem is that there is so much housing association property on the market. It is all more expensive than ours, but you don't need a deposit and you are only buying 40%.. Just found out the only open market scheme (which we were hoping to get) has no funding for at least the next few months.

So anyway going to drop by 10K...