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Original poster

House not selling

38 replies

dream75 · 14/09/2015 12:14

House has been on the market for a few months with no interest. Was going to reduce the price in line with similar house in the next road but that house has now reduced to a price we wouldn't consider selling ours for. Not sure whether to reduce or sit it out to see if the other house sells. EA states houses are not selling so we need to reduce but as we don't need to move I don't want to sell at very low price

OP posts:
Pootles2010 · 14/09/2015 12:16

If other houses are reducing, I'd say yes you have it on for too much.

But if you don't need to move, just take it off the market?

Cacofonix · 14/09/2015 12:19

It isn't selling because it is priced too highly.

You can sit it out and see what comes in but if you need to sell you have to fave facts and market it at a similar price to similar houses size wise and condition.

Otherwise take it off the market.

scarlets · 14/09/2015 17:08

I sympathise, I really do, having been in that position. However, I reckon that you need to accept that it's priced too highly. If the sum you're likely to achieve isn't enough to buy what you want, it's best to withdraw it from the market and forget about it.

Original poster
dream75 · 14/09/2015 18:12

Thanks for your replies. I think I will reduce it in a couple of weeks and see if there is any response. We want to move but I just don't want to have to increase the mortgage. Looking at the local market the only houses selling have been reduced greatly with the seller probably taking a loss.

OP posts:
Aqualady · 14/09/2015 18:22

Are you saying no one has viewed ? Are you with an estate agent ?

This may not be the case but it's not unheard of that the estate agent sends no one round and encourages you to drop the price and either they buy it or someone they know buys it.

AnnaLP · 17/09/2015 13:37

Have you had viewings but no offers, or just no viewings?

If you are getting a reasonable number of viewings but no offers then take a long hard look at your home. Is it clean (really clean) and uncluttered? Are their lots of nagging DIY jobs that have been hanging around for years? Have you got new linen on the beds and fluffy towels in the bathroom?

These things may seem like cliche's but there is plenty you can do to help yourself (assuming you are getting viewings) and buyers really are influenced by a clean, clutter-free interior that looks like it has been well-cared for.

Original poster
dream75 · 17/09/2015 14:46

Yes Annalp no viewings. The price does need lowering but there seems to have been a frenzy of price lowering this week so think I'm best waiting so that I go back to the top of RM. I think we will have to lower more than we want to and it's trying to decide how much we really want to move

OP posts:
specialsubject · 18/09/2015 11:01

no viewings means too expensive. If you bought at the last peak (2006/2007) then you have to face facts. Plenty round here won't and either sell at a considerably lower price or are still on the market after 3 years.

IssyStark · 18/09/2015 14:18

It can't be repeated too often: a house is only worth what someone is prepared to pay for it.

If you aren't getting viewings, then it is far, far too highly priced. If it were within 5-10% of what someone would be prepared to pay for it, then you should have had at least a few viewings.

WhoTheFIsJeff · 18/09/2015 16:30

No viewings at all? In a few months since you put it on the market? I would be lowering the price to get it bumped back up and asking the estate agents what they're doing to sell it. They're working for you don't forget.

Or post a link here (if you're happy to) and get us lot to give you ideas.

wickedwaterwitch · 18/09/2015 16:32

Agree with issystark, it's too high if you're not even getting viewings

wickedwaterwitch · 18/09/2015 16:32

Check how it compares to sold prices too

mylovelylife · 18/09/2015 17:38

I'm in the SE where prices are crazy so just wondering what region you are in? If you are uposizing then your target house is also reducing.If you are down sizing and didn't buy at the peak don't compare what prices may have gone for as its all paper increases not actual.

Is there anything off putting re your house?

Original poster
dream75 · 18/09/2015 18:47

I'm in the merseyside area. Houses don't seem to be selling at any price. There are some houses that have been lowered a lot and are still on the market. This week it looks like every house on the market has lowered it's price. I've posted the link of the house previously and most comments were that the price was too high. I priced it expecting people to offer 5k less but think I should lower the price to selling price.

OP posts:
mandy214 · 18/09/2015 18:58

Is there something going on in the area? Has a school gone onto special measures? ?might it be affected by new road scheme / train line / big employer closing - something that will affect the desirability of the area as a whole?

If not then it's the house. I think if you're not getting viewings, there may be something off putting in the photos (is the house presented at its best?) and / or it is significantly overpriced. If people thought it was worth a little less than the asking price, they'd still view and make a cheeky offer. I think I'd be asking a very good friend / estate agent for an honest view.

Onedirectionarestillloved · 20/09/2015 22:13

It is overpriced.

The only reason to price yours considerably above those of a similar nature on the next street would be if it was exceptional in some way.

Buyers do compare houses.

Why would they buy yours if they can get the same house cheaper?

wowfudge · 21/09/2015 07:57

OP - I remember you last thread and I've just had a look at similar properties for sale in the area. The ones showing as Sold STC are all priced at £85k or if they are more expensive are 3 beds.

There is one around the corner from you on Fisher Avenue which looks an identical house to yours, but has a new kitchen, etc and it's on for £85k. It's not to my taste, but you could buy that house, move in and not do anything work wise for a few years. That's your main competition.

What has your agent been doing in terms of updating you, discussing strategy, etc and what are their suggestions now? Hardly anyone has their house for sale with that agent - is it time to move to a different one, one that has been selling things in the area?

You might need to go to offers over £80k to get something approaching £85k.

ChopOrNot · 21/09/2015 12:29

There have been a few threads on here about EA not letting people view properties unless they meet with the in-house Financial Advisor. May be worth asking the EA for an exact breakdown of any interest and activity....

Original poster
dream75 · 22/09/2015 16:09

Hi Wowfudge. We was going to reduce it to 90k and then those two house are now on for 85k so still might reduce to 90k but expect to get offers for less. I don't think doing improvements to our house would increase the price so we might have to accept a lower offer and increase mortgage for next house. EA seem rubbish and were not aware of the other house reducing their price.

OP posts:
wowfudge · 22/09/2015 19:10

Change agents then - you've nothing to lose at this stage. You want someone who actively wants to sell your house, not someone who doesn't know what's going on.

Acer77 · 23/09/2015 01:55

Hi dream75,
I agree with wow fudge
Lots of the advice given in your previous post was worth taking re decor. You don't need to spend loads and you'll make the money back in the sale. It might not increase the price exactly but it may mean you get closer to the asking price in the end rather than cheeky offers thousands lower... It'll certainly help you get viewings!

Mostly the lounge needs attention. I agree with the other posters re fireplace, sofa being too big and maybe some nice wallpaper to brighten the room a bit? Paint kitchen walls a more neutral colour?

But your house is also overpriced I'm sorry to say. The house on fisher ave is smarter, slightly bigger (according to floor plan) and on for £10k less than yours. Yet it still hasn't sold! I think you need to spend £500 on redecorating and reduce the price to £85k or less if you want a sale...

Also, before you reduce the price, get a new agent and new photos.

wowfudge · 23/09/2015 07:46

Actually I disagree about the lounge being the room most needing attention: I think it's the kitchen. And kitchens and bathrooms sell houses. Some neutral paint on the walls and smart new vinyl on the floor will transform it for very little money in the scheme of things. The problem with the kitchen as it stands is that it looks as though it needs work because of the walls and floors.

Please get a better agent on the case dream and drop the price!

wowfudge · 23/09/2015 07:57

You can probably improve the kerb appeal with a couple of plants in containers by the front door too.

MushroomMama · 23/09/2015 08:14

Hi dream

We are currently buying in Huyton which isn't far from your area and I will say now your house is far to expensive for the area. The kitchen needs to be magnolia for it to be attractive to buyers. Agree with pp that a bit of decorating would help no end and a significant reduction in price. Houses are very low priced in Merseyside atm I haven't a clue why but it's just the way it is

Acer77 · 23/09/2015 11:03

Agree - replace kitchen floors with some nice neutral vinyl and paint walls. Won't cost you very much.
Stick some evergreen, bright planters out front by the door. The front looks smart - just needs some colour to make it more homely.

Get your head round the idea that it won't sell as is. You need to drop the price and put some work in to present it better..... Sorry if that may not be what you want to hear!