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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To feel bloody miserable that my house probably won’t sell?

209 replies

Yesaigust · 05/12/2024 15:00

I paid 520 for my house in 2022. Had it valued at 540. When I bought it I wasn’t in a great place mentally and think I probably paid over the odds for it a little as it was all done up etc. Anyway, it’s been on the market a week at 550 (in the hope of getting 540) and no enquiries. I’m desperate to move but need the 540 to break even with moving costs after buying in 2022.

I feel stressed. I’m a lone parent too and feel like everything is getting on top of me now and I’m also trapped somewhere I really don’t want to be. Just having a moan really but wondered also if anyone had any advice.

OP posts:
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Abra1t · 12/12/2024 20:54

We got two offers this week and have accepted one of them. House has been on since October. Our agent has been busy—I noticed lots on their site have sold/had offers accepted in the last fortnight.

AmIEnough · 11/12/2024 08:43

My dad is trying to sell his house. It’s been on the market for two or three months with a few viewings but no offers. He has been told by the estate agents to take it off the market and re-launch it on Boxing Day as he says this is When he has been told people start to look again so I would try that. I wish you all the best.

Nantescalling · 08/12/2024 14:12

Yesaigust · 05/12/2024 15:04

@redgingerbread the place I have seen and would like won’t accept my offer until mine is sold. So there’s a bit of pressure. The agent said before Christmas was good time to list as everyone looks at rightmove over the holidays.

No agent would recommend taking off the market even if World War 3 was coming up. They are only interested in the money. I think you are probably stressing most about losing the other house you've seen. Don't pine, sit on your hands quietly till March when people start looking seriously. There'll be another just as nice.

BIossomtoes · 08/12/2024 12:33

CosyLemur · 08/12/2024 11:48

If you haven't made any improvements over the last 2 years then you're being even more unreasonable - the value has likely dropped not increased or stayed the same.
The only way property value increases stays the same is if you make improvements

That’s not true. We wouldn’t have the current housing crisis if it was. Why do you think property’s unaffordable now and most people couldn’t afford to buy their own house at its current value?

CosyLemur · 08/12/2024 11:48

Yesaigust · 05/12/2024 15:07

@WallaceinAnderland none, the 540 is the bank current value and also the agent’s valuation

If you haven't made any improvements over the last 2 years then you're being even more unreasonable - the value has likely dropped not increased or stayed the same.
The only way property value increases stays the same is if you make improvements

Packetofcrispsplease · 08/12/2024 11:46

One house I sold did take more than 3 months , because it had an unusual layout I suppose 🤔 + we had lots of viewings and many weren’t at all serious .
I worked so hard. Decluttered , did all those odd jobs and bits that seem to make a big difference when selling that you’d not think of otherwise.
i felt so deflated and exhausted

CellophaneFlower · 07/12/2024 11:22

I don't think OP is worried as she hasn't sold or received an offer within a week, more that she hasn't received any interest at all.

Umbrella15 · 07/12/2024 11:02

Its only been a week, and Christmas is around the corner. I wouldnt start paniking yet

FortunateCatsGlugDaquirisAllEveningBlindly · 07/12/2024 09:24

Totally agree with everyone else who is astonished that you are stressing out about selling after only a week OP.
Our house has been on the market for three months and no offers yet. A lady who lives up from our old house was also having major issues selling and her property is in a different league from our old cottage.
Our old place has a brand new fitted kitchen (yep, got a new kitchen, then saw the house of our dreams, luckily we were in a position not to be trapped by chaining, but money spent on the kitchen irks a bit 😂), we added a roof extension and new double glazing throughout.
Still no offers. It’s the time of the year. I’m also starting to believe C.J. Tudor’s short horror story about estate agents is based on truth. We had, ‘Your house is charming, you will get a quick sale’ and ‘we will market this one aggressively for you’.
The estate agents dealing with the house we purchased were amazing. I wish they covered the area that our old house is in. Switching estate agents would cost too much.
I only know of one house that sold in a week, it was palatial inside and has a gorgeous garden and large garage. The couple selling also reduced the price for a quick sale.
Im wondering when our estate agent will suggest lowering the price.
We are saving getting nervous until around March/April next year.

Nic834 · 07/12/2024 08:42

ON A POSITIVE NOTE;
I know the messages on here about the time of year for selling, the market being tough right now and the market falling since 2022 May not sound like positive news for your sale, it also applies to the purchase of the house you want, which is very good news for you!

The house is likely to still be on for a while yet and you can probably get it for less!!

A slow and reduced market is good news if you want to buy!

Abra1t · 07/12/2024 08:37

BIossomtoes · 06/12/2024 22:15

Only at the bottom of the market.

It’s an extra £2500 for any buyer of our parents’ house in a London suburb. OK, not vast given the cost of the property, but an increase that people could avoid by getting their skates on.

Manthide · 07/12/2024 05:59

XxSideshowAuntSallyx · 05/12/2024 17:31

We made 40k on our house in 3 years, 5 years ago, did nothing but redecorate and re-carpet and put wooden floors down (didn't even put the skirting boards back on), we sold because we were getting divorced not because the house or area was dodgy.

I miss that house and area so much.

Never judge why a house is on the market after a couple of years, you don't know the sellers or what they're going through. We specifically told our estate agent not to mention our divorce to potential buyers to stop the cheeky offers. It was also breaking my heart to move and I didn't need people using my misery to their advantage.

We were looking to buy in January many years ago after a seller pulled out last minute. We viewed one that had multiple holes in the walls and doors due to marital arguments. The seller was desperate but we thought the house had a sad vibe and didn't go for it.

Manthide · 07/12/2024 05:32

@DreadingWinter dd2 and her husband brought a house in early 2022. At the time every house they looked at had multiple buyers trying to outbid each other. They paid about £1.5 million and have spent another few hundred thousand renovating it and have just moved in. They intend it to be their forever home - and they don't have a mortgage- so the value on the open market does not bother them. It must be very difficult if you end up in negative equity though.

Manthide · 07/12/2024 05:25

vjg13 · 05/12/2024 15:43

According to EA, Boxing Day is the busiest day for Rightmove traffic. Currently selling a property due to bereavement and his suggestion was to reduce the price on this day.

We recently sold a house due to bereavement and heavily reduced the price just to sell as after 6 months you have to start paying council tax and insurance on empty houses are through the roof. It was very stressful particularly at a time when you are grieving. Hope it sells soon.

DreadingWinter · 07/12/2024 02:41

Oh dear OP. You seem to have a very rosy view of selling a house. My immaculately presented former show house was valued at £495,000 to £515,000 in 2022. This was being achieved by neighbours' houses, then the market crashed. I sold a year later for £435,000. A year on and another neighbour has just sold the identical house, but in a better position, with a garage for £425,000. I live within commuting distance of London, so a popular town. It was weeks before my first viewing. Before October 2022 was peak time for selling and people were paying far too much. You have said yourself that you did. Agents over value to get your business, but they know full well that you are unlikely to achieve their valuation.

Miaminmoo · 07/12/2024 01:19

A week and no enquiries? You need to manage your expectations, my house is in a super area, great schools and very sought after but we are in a tricky price bracket - too much for most first time buyers and a stretch for other people too - it’s been on since September and we’ve had 4 viewings - all stated it’s immaculate but not bought it. The market is a nightmare at the moment and we knew it would take a while to sell. We work in mortgages so we know what’s going on locally with house sales. What’s selling near you and what’s stuck? I’m afraid nothing is moving quickly at the moment and the recent budget hasn’t helped. You’re going to have to bed-in for the long game on this one I’m afraid.

BIossomtoes · 06/12/2024 22:15

Abra1t · 06/12/2024 22:06

Not from April!

Only at the bottom of the market.

Abra1t · 06/12/2024 22:06

BIossomtoes · 06/12/2024 21:42

Given that the increase in stamp duty only affects second properties that seems unlikely.

Not from April!

BIossomtoes · 06/12/2024 21:42

Given that the increase in stamp duty only affects second properties that seems unlikely.

PetuniaT · 06/12/2024 21:25

The housing market is screwed at the moment because you can't view a property without having sold yours first (the estate agents blame solicitors for this new phenomenon which is supposed to speed up the process). In April 22 and April 24 we accepted offers on our bungalow only for the ever lengthening chains to collapse by October each year when those that have been waiting to move get fed up and pull out for one reason or another. The uncertainty caused by Labour's election has been further exaggerated by Reeves' stamp duty changes

Tnib · 06/12/2024 20:13

It’s only been a week, it isn’t a great time of year to sell but DP got an offer on his property a few weeks ago. It was the only offer. It’s a tough market at the moment but it is possible you’ll get what you need. Property prices have gone down as we were due to move at the start of this year but then we had an issue with getting a mortgage so this offer is slightly less than the one at the start of the year.

As I’m sure the estate agent has said if you’re looking at a lower offer the property you buy will also be less than before.

Best of luck

TheMauveBeaker · 06/12/2024 19:54

Sounds like the agent is perhaps new to their job! Nobody wants to think about moving at Christmas! Wait until it’s all over and people are back to work in the New Year. That’s when we all start thinking about changing things.

Nic834 · 06/12/2024 19:07

Yesaigust · 05/12/2024 15:00

I paid 520 for my house in 2022. Had it valued at 540. When I bought it I wasn’t in a great place mentally and think I probably paid over the odds for it a little as it was all done up etc. Anyway, it’s been on the market a week at 550 (in the hope of getting 540) and no enquiries. I’m desperate to move but need the 540 to break even with moving costs after buying in 2022.

I feel stressed. I’m a lone parent too and feel like everything is getting on top of me now and I’m also trapped somewhere I really don’t want to be. Just having a moan really but wondered also if anyone had any advice.

Please please please watch “moving home with Charlie” on YouTube you can private message him as well on his fb, I think I know what he would tell you and that is that the market has significantly dropped since 2022 despite how estate agents are pricing houses.

Emily47 · 06/12/2024 18:44

I've just started marketing my house in Edinburgh privately, without using an agent. Have done this with my last 3 properties, though in England. Up here you have to have a Home Report survey done prior to marketing, but that went smoothly enough. Have prepared a portfolio of photos which i'm very pleased with and have a floor plan & full particulars ready to email to enquirers. Bought a 'For Sale By Owner' sign and am currently listing online. Not only do i save agents fees, i could take time getting the photos exactly right, the particulars as i wanted them and build a good relationship with my buyer. If you're not under time pressure and willing to do the viewings yourself, i recommend it. You do not need an agent.
Personally i would leave your house on the market. It only takes one buyer and there may well be someone thinking they won't be able to find a house at this time of year. On another positive note, you won't be in competition with many other sellers! Hang on in there.

Yoonimum · 06/12/2024 18:28

Early days! We had nothing between late Oct and Christmas then as soon as New Year arrived we had a two couples who got into a bidding war for our house and we sold at a great price.