AAAAGGGGHHHHHH- this is getting silly- I REALLY need to sell my house!!!!!

[tametortie]

We have only been on the market for 6 weeks but there is a bit of a story here....

My Mum is living with us after brain surgery back in December and we really, really need somewhere bigger. Both houses are on the market but realistically, if we sold one of them we have seen a new house that we can part-ex on as long as one house is sold.

I even went to said new developer last week and was nearly on my knees asking them to part-ex both houses. I am on a course of clomid at the moment and I don't think this is helping!!!

I need space, I need to sit round in my pants, I need to poo in peace

We have alreday reduced my Mum's house, they are both in good order (immaculate in fact) and the estate agent isn't really giving us much more to work with other than reducing the houses to obscene levels. We have not even had one viewing and I'm getting slightly twitchy.

Is it just the time of year? Is there anything I can do other than reduce the price? Have you ever been in this situation? What did you do?

I need help, I need kind words, I need constructive advice.

You need to sort out the estate agent. 22 week sole agency is completely ridiculous - what incentive do they have to sell it now? I would just go in and say you are putting them joint agency and see if they sue - probably paying double fees is better than reducing the price.

If you haven't had one viewing it doesn't matter what you do to the house. Why is nobody viewing - is it the price. £5k reduciton is nothing you need to do £25-50k reductions to make a difference.

Fiddledee have you seen the prices? 25-50k not realistic on£70k house.

Both come under FTB territory & that seems to be a problem up here. People not getting morgages or for as much as before. Your mums should be easier on that count. No suggestions sorry I sold a similar property last year and took 15k off it & was under 100k to start with. Ouch!

Just looking at the photos and blurb I'd suggest changing your estate agent or insisting they completely redo the adverts for each house.

The photos for both houses are dire.
The one of your Mum's lounge makes it look dark and cluttered, and the one of your lounge (which is beautifully decorated and furnished) isn't even in focus. The angle the photo's taken from makes it look like a big expanse of floor!

I agree about the small table in the kitchen, and while we're there, the kitchen photo looks as if it was taken in the dark...That, coupled with the first pic of the front of the house, with the next door house looming over it, makes me wonder if the kitchen window looks out onto that next door's gable end, which would put me off viewing.
And why take a pic of the landing/loo?

The photos of your Mum's house are similarly dark and badly taken. They MUST be changed if you are to get viewings!

As for the blurb...

I mean WTF???So you've got a front door? Well that's good to know!!! You are paying this agent a LOT of money for this and it's crap. Watch Mary Portas on Estate Agents to see how she shook them up.

The blurb for each of these houses is bland and generic. It doesn't give any sense of the character of these houses. You have worked hard to decorate both these houses to a high standard but the effort you've put in is not reflected in the notes.

People looking to buy a house look at what's available in their price range. Yes, lowering your prices will make them more attractive, but so will good photos, good descriptive notes and good advertising. This Estate Agent isn't giving you any of this, sadly.

ah, I can see you have decluttered the kitchen since the last thread. Sorry the houses are still not selling.

Agree with the point of a dining table with only space for 2 people in a three bed house, it does give the impression of a very small house.

Your mums living room NEEDS decluttering. It also looks very dark.

In her kitchen, can you open the door for photos? It will bring some light and some space in.

What about the slabs on the front of the house?
Can they be moved out of view to the back garden? Can you put some pots out for more kerb appeal?

If FTBs can't get mortgages, that will drive down the price of FTB housing.

Can you paint the front of your mums house? The houses on either side make the front of your Mums look really drab.

I dont think the reason it looks drab is the lack of paint on the house, but the brown door! Could you paint the door white, or blue? Or something?

That would be an easier solution!

and cheaper!

FTBs can't get the mortgage either you sell them v v cheaply or you will need to wait until the mortgage market improves. I would sack the estate agent, find any clause in the contract you can find.

www.estateagenttoday.co.uk/news_features/Housing-market-on-brink-of-double-dip-warning#comments

Have a look at the comments, there is only one bottom line when a house isn't selling.

Twigs in a vase probably won't help.

Someone has already said this but I'll repeat.

Have you checked the sold prices of houses in your street/local similar streets?

(have a look on www.nethouseprices.com if not)

Are you comparing with local asking prices for similar properties (ignoring ones that haven't sold for months and so are probably overpriced)

That will tell you whether your price is too much or not.

On presentation, I think your house is beautifully presented, but looks small - wide angle photos (from a better agent...) would look better, and the "table for 2" suggests no space for 3 or 4 to eat.

Your mum's house is fine, but too cluttered - and again some wide angle photos would do wonders.

But really, with no viewings, it's likely to be the location or price that is putting people off, rather than the presentation. And you can't change the location... so it's down to price, I'm afraid.

There is a real problem with a lack of first time buyers at the moment. I think this may be contributing to your problem. :(

To give you some perspective on price, I am 24 and one of those people who is not currently a first time buyer, though I may have been in my situation in previous generations.

The problem is lending. Me and my partner have a duel income of £38,500 and could borrow just £85,000. Your house is way over what we could get a mortgage for, so you need to look at average earning in your area vs cost.

Yes, we could afford your mother's house, but only just. Other incentives would be needed to help it stand out, eg help with moving costs, maybe throw in some furniture, redecorate etc. I know that sounds rubbish but it is increasingly what estate agent's are doing for FTB.

I do really feel for you. If you can sell both for a knock down price you will hopefully find a bigger house that you can buy at a knock down price.

Ok- I've got some notes! I hear what you say about the cat although I do love them, I do have a friend who dreads visiting...

We are going to retake the photos of my Mum's house- we have meant to do it for a few weeks but whenever we get round to doing it, its a dull day and won't lend itself to taking brighter pics.

The price issue is REALLY worrying me on a few levels.

If we drop the price- yes we may get people through the door and get offers made but it may leave us short on the equity and make the new bigger mortgage a whole load more budget busting. We can do it now and manage but what about when interest rates shoot up and I have my Mum and my Daughter to think of? The whole thing makes me feel nervous BUT its not to say we won't do it. I think we would just need to take proper financial advice on that.

It makes me cross when I look at other houses on our estate and we specifically asked to be 'priced to sell quick' and we are in the same price region as everyone else- no different or standing out as cheap. So I think we will have to drop eventually...

Do you think that if we paid the stamp duty on ours (priced at £129950 so stamp duty at 1%) that would attract 1st time buyers or look desperado????

The whole thing is very confusing and vexing and in the middle of it all my poor Mum is still having treatment

Don't chase a falling market, if you really want to get the viewers in and sell then you will have to be ahead of your competition.

Get some advice on your area but if you are going to lower the price do it before all the others do and it becomes an average price again.

It depends on what you have in mind to buy. I have just had what I thought was a too low an offer accepted. So you might not need as much equity as you think. Prices have fallen at all levels. Check out the recent sales in your area, for the kind of house you'd be interested in buying.

If you want a new build, as suggested in your OP, negotiate hard. They have a lot of scope to give you incentives to buy.

The new build we have seen is top of our budget but perfect- its a shame but the thought of it sends chills down me, it would make our mortgage very big 9in my eyes- prob not the eyes of someone who is in the southern market!!)

It has 5 bedrooms which is great but also has 2 en-suites. It would be perfect for my mum to have her own bathroom.

Just a shame it makes me hyperventilate when I think of the money!!!

I also see time and time again- new houses sell second hand for about 30% off the original price. Such a shame.

So, fingers crossed a 5 bed newbuild comes on the market, second hand. If the estate has been completed, that also reduces the risk of the price of later releases being slashed. In a falling market, I'd be wary of buying from a developer. Google for Ireland's "ghost estates" to see why.

Maybe try not to set your heart on the new build you've seen, but keep a line of communication open with the sales office, there is nothing like being genuinely prepared to walk away to help you get a good deal.

Excellent advice Unwind

There are lots of fairly massive second hand houses that I wouldnt grumble at living in!!

They have a lot of scope to give you incentives to buy.

Yes but unfortunately the likes of Barrats will do just about anything to stop their prices falling.
Have you considered a part exchange, would that work ?
The one thing you do not want to do is take a hit on yours and pay a premium for the new house, been there and it took 10 years to catch back up again.

the likes of Barratts can't prevent prices from falling

they offer part exchange, because it helps hide the price drops - they agree the exhchange house is worth £30k too much, but add much more on to the price of the house they are selling

have a look at the prices the exchanged houses sell for, it explains a lot of bizarre pricing on the market

My experience of house selling is not in the current depressed market but I don't agree with people telling you to slash your price when there's so much else you can do first. You can "House Doctor" as much as poss, pots of plants make a huge difference to exteriors very cheaply as would a shiny new colour on your Mum's door.

Harrass your agent. I have always "kept in close touch" with agents we have used which has kept them on their toes!

I was told years ago that if you were getting viewings and no offers then the house was wrong but if you are getting no viewings I would give the agent a swift kick up the rear end to get them moving. It is fine to try to price just below others (or add an incentive) but if you reduce too far people will think there's something wrong with it.

Some good news- a viewing today at Mums

I can honestly say, even if they don't make an offer, I am happy to know that someone at least wants to look at one of our houses.

Will be house doctoring at weekend x