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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:
LlynTegid · 06/12/2024 18:08

Hope it all works out for you in the end.

The estate agent's comment is awful, but what do you expect from the largely unregulated profession of spivs and chancers?

Mrsgreen100 · 06/12/2024 18:06

Agents tbf say anything to get a listing ,
this is ( sorry OP) a completely shit time of year to sell a house.
spring is coming, and gardens look better people start to think about moving.
for now just do what you can to get it sale ready, declutter etc
and hang on in there
🤞

Judecb · 06/12/2024 18:04

Unfortunately you are unlikely to sell now until February. It's just how the market is. I'm sure interest will pick up again in 6-8 weeks. School places are announced in March which is historically when there is more movement in the housing sector.

1HappyTraveller · 06/12/2024 12:25

It’s been on a week. You need to chill out a bit 🧘‍♀️.

Also this time of year isn’t the best from my experience. Most people tend to market in spring with a view to move over summer and be in their properties before the autumn school term starts and definitely before winter/Christmas.

This last 12 months has also been crap. Loads of buyers holding out for the election, then the budget. The economy has made people feel uneasy about buying.

BIossomtoes · 06/12/2024 11:57

I bet that goes down a storm with sellers!

Queenofthestonage · 06/12/2024 11:55

My SIL works for an estate agent and says she is always busy between Christmas and New Year. She has even had people requesting viewings on Boxing Day!

rainingsnoring · 06/12/2024 10:41

Mirabai · 06/12/2024 08:38

This is the least busy time of the entire year. The market will be dead now until the new year. And it won’t really get going until the spring.

I agree and already said that in my first post on the thread but not a single enquiry does suggest a problem at any time of year. I can't see this Spring being SDLT increasing from April 25 and the economy visibly deteriorating. It's time to be realistic rather than price aspirationally if you actually want to sell.

WoolySnail · 06/12/2024 09:17

ProssecoSparkle · 05/12/2024 20:16

I would keep the house on the market op. Not everyone is Christian/celebrates Christmas. Your house might also sell to someone moving to the UK.

Where I live it's really unusual for houses to sit on the market for more than 2 weeks. So it really depends what area of the UK you are in. My friend is a estate agent and literally ran of her feet with house sales at the minute and her viewings are booked right up solid until the 23rd of December.

Also generally people have a look online and make a list of houses they like. Then whittle it down from there. You would be giving yourself a chance to get on people's list and maybe a first viewing or offer before the holidays.

Plus some people think they will get a foot in the door before all those who can't be bothered to look because it's Christmas potentially.

WoolySnail · 06/12/2024 09:14

AquaPeer · 05/12/2024 19:25

thats in no way applicable to everyone though. My house has gone up loads in the last 2 years

Same. We bought in 2021/22 (viewed and offered in the November and completed the next year) when prices were high, but the same houses where we live are now selling for 17% more. Anything over £200,000 is taking longer to sell but is still going within a few months. Totally depends on the area in most cases.

JillMW · 06/12/2024 09:00

I live in a village where houses are usually slow to move. Four have gone up for sale this week and three already have sold signs. I don’t really see why taking it off the market would help. If it does not go you can always list with a diff agent after Christmas if you think it would help but I don’t see how anyone would be put off if a house has been listed only a month.Better to list at offers over 540 than 550
If it is overpriced unless someone is desperate it is unlikely to sell. Whilst it is nice to have the house you want to move to if you cannot afford it you need to choose somewhere less expensive.

Swiftie1878 · 06/12/2024 08:52

Yesaigust · 05/12/2024 21:17

@SilverChampagne of course, but there needn’t be judgment for the reasons as to why I want more money from it 😂

No, there needn’t be judgment, but the fact that there is may give you a clue as to how potential buyers will be thinking.

It’s only been a week or so, and people aren’t off work yet for Christmas. In fact, people are busy sorting their current homes’ Xmas decorations and shopping for gifts. I wouldn’t expect anyone to be house hunting right now. If you get no interest come January, you may have a problem. Until then, hold tight.

1457bloom · 06/12/2024 08:45

The trouble with property is it can take a long time to sell, even over a year in some cases. Of course, you can keep dropping the price but this is expensive! May to June seems to be the best time to sell.

monkeysox · 06/12/2024 08:42

Yesaigust · 05/12/2024 21:17

@SilverChampagne of course, but there needn’t be judgment for the reasons as to why I want more money from it 😂

How much is the new house? Why are you moving?

Mirabai · 06/12/2024 08:38

rainingsnoring · 05/12/2024 21:21

Of course you can advertise it for whatever you like. Whether it is realistic to expect it to sell is a different question. So far, you haven't even had a single enquiry in what should be the busiest period for viewings.

Those suggesting that the Land Registry, etc say that house prices have risen in the last year might not have seen articles about the amount of revisions the ONS are making to their data and how the revisions have been increasing to the downside.
https://www.telegraph.co.uk/money/property/buying-selling/uk-housing-market-in-deep-trouble-charts-prove/

This is the least busy time of the entire year. The market will be dead now until the new year. And it won’t really get going until the spring.

HooMoo · 06/12/2024 08:09

It’s been on a week! Ours has been on 2 months at 475k we bought in 2022 for 500k. We’ll lose money on it but we need to sell cuz we have neighbours from hell and my mental health is at breaking point.

Sorry but being on for a week at this time of year is nothing.

TinyFlamingo · 06/12/2024 07:59

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.

This isn't true lovely, this agent just wanted your business. 100% people don't look at properties in December, they are too busy with Christmas events, school holidays and life happening.

January will be better.

I'm sorry you've got your heart set on the next property before yours is settled.

You say, to break even you need xx, but what do you need for the next property really? Do you need xx, to get the next property to the penny or is there wiggle room?
Because if there is don't worry about breaking even because you've made a mistake etc and best yourself up, just focus on what getting what you need for the next step and if you take a hit, so what? As long as you are ok it'll be ok!

People are really nervous about property right now because of interest rates in flux etc
January will be better. Enjoy Christmas.

You may lose the house, but if it's meant to be then it's meant to be and the market will be sluggish for them too until Jan. Try not to worry.

Declutter, declutter declutter. Do small things to go r curb appeal and do pictures again in new year.

Itissunnysomewhere · 06/12/2024 07:57

Yesaigust · 05/12/2024 20:58

Those telling me I shouldn’t be ‘expecting’ someone to replenish my savings… it’s a free (ish) country still and I can advertise what I like, if someone is willing to pay that’s up to them!

thansk for all the supportive messages x

Of course. Ultimately it's a case of striking a balance between how badly you want to sell quickly and how much you want to get for it.

People will see you only bought a few years ago and that will raise doubts in their minds too

Botanybaby · 06/12/2024 07:52

It's only been a week and your wanting over half a million for your property things like this take time just wait it out you could end up with a bidding war you never know

ACynicalDad · 05/12/2024 21:24

There was an article in the times last week which analysed when houses came onto the market and when houses were sold over the past five or six years excluding Covid period and stamp duty changes I think this is a really really slow time.

Kitkat1523 · 05/12/2024 21:22

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.

Time to get a new agent then…..worst time possible….then everyone else will list feb time and you will need to reduce the price just to get a viewer…..our estate agent told us if you have net had an offer in first10 days then you won’t get your asking price

rainingsnoring · 05/12/2024 21:21

Yesaigust · 05/12/2024 20:58

Those telling me I shouldn’t be ‘expecting’ someone to replenish my savings… it’s a free (ish) country still and I can advertise what I like, if someone is willing to pay that’s up to them!

thansk for all the supportive messages x

Of course you can advertise it for whatever you like. Whether it is realistic to expect it to sell is a different question. So far, you haven't even had a single enquiry in what should be the busiest period for viewings.

Those suggesting that the Land Registry, etc say that house prices have risen in the last year might not have seen articles about the amount of revisions the ONS are making to their data and how the revisions have been increasing to the downside.
https://www.telegraph.co.uk/money/property/buying-selling/uk-housing-market-in-deep-trouble-charts-prove/

Yesaigust · 05/12/2024 21:17

SilverChampagne · 05/12/2024 21:16

You can, of course. Posters are only advising you that potential buyers will see it for what it is. Your very thread title is bewailing the fact that your house isn’t selling 🤷🏻‍♀️

Edited

@SilverChampagne of course, but there needn’t be judgment for the reasons as to why I want more money from it 😂

OP posts:
SilverChampagne · 05/12/2024 21:16

Yesaigust · 05/12/2024 20:58

Those telling me I shouldn’t be ‘expecting’ someone to replenish my savings… it’s a free (ish) country still and I can advertise what I like, if someone is willing to pay that’s up to them!

thansk for all the supportive messages x

You can, of course. Posters are only advising you that potential buyers will see it for what it is. Your very thread title is bewailing the fact that your house isn’t selling 🤷🏻‍♀️

Tired887 · 05/12/2024 21:03

2 years is not enough to see an increase in property value, regardless of market conditions right now. You need to hold a property on average for 5-10 years to see any gain. Why are you selling so soon? Surely there are compelling reasons?

Yesaigust · 05/12/2024 20:58

Those telling me I shouldn’t be ‘expecting’ someone to replenish my savings… it’s a free (ish) country still and I can advertise what I like, if someone is willing to pay that’s up to them!

thansk for all the supportive messages x

OP posts:
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