What's wrong with our house?

[sueyandcol1]

Hi all. I'm a retired gran living in west London with DH and I would really appreciate some practical advice please.

Our house has been on the market for 4 weeks and we haven't had a single viewer. I know the price may seem high but that's about average for this area. We can't work out what's wrong with it. We know we could rip out the brown bathroom, paint all the walls white, etc, and if we haven't sold in six months then maybe that's what we'll do. But we're just wondering if there's anything obviously "wrong" that we can fix without spending too much money. We just want to get some viewers! Any practical suggestions would be most welcome...

Please see www.zoopla.co.uk/for-sale/details/44957399?betabanner_dismiss=1#8IpVgvS6tHJhxHgW.97

Indeed.

Bear - the OP didnt even take the advice of the EA's on pricing - they just plucked a figure out of the air of how much they want for their house - and decided to put it up for that........

As I said before people have so much access to data/info that they just crunch the numbers and can see in an instant that it is way over priced....no need to go and visit.

But OP will come to terms and deflate their unrealistic bubble eventually.....shame as I think that will take some time and the market will have moved even further away from her so her retirement pot and family share out will have diminshed.

Sellers are either motivated to sell and do what is necessary or they are holding out for a specific amount of money. This strategy can be fine if you are not in a hurry to move and it's a rising market. With things as they stand currently, I think it's a mistake not to cut the price, and cut it significantly, bearing in mind all the comments made here which are pretty darn similar.

The most accurate answer was given on page 1!

The property in the same round, in far better condition, that was significantly larger, sold for £875,000 in July this year.

The property is 1557 sq ft. The OPs property is 1015 sq ft. That's quite a difference.

As such, a smaller property needing updating is never going to be worth anything like the same amount. A price reduction of at least £100,000 is needed if you want a genuine chance of selling.

its a funny old market in London at present and I agree with others. Be careful that the market doesn't drop further.

When I was moving I assumed (I don't know where I got it from!) that 50% of people had a compelling reason to move and 50% put their property on to see what would happen. If they got the asking price then all well and good, if they didn't they would 'wait'.

I think I was wrong. There are only a small % of people who HAVE to move. The rest are just wondering.

This causes I suspect the biggest nightmare for EA's. The vendor who thinks they know best. Who will wait until they get the price they deserve. Everyone is an expert - even people who haven't moved for years and years.

Rightmove, Zoopla and suchlike make it really easy to see what is going on in the area. I like the street view, the last price for the property and how long its been on (although it doesn't take into account any extensive extensions).

There is of course nothing like seeing a few houses in the flesh but its human nature to want top dollar for your house and a bargain because the market is dropping when you buy.

I suspect the OP will stay put and 'wait'. With little in the way of viewings she doesn't even need to keep the house neat and tidy

Absolutely.
The house that was sold for £875K was lovely- it had what most families want.

You aren't being sensible OP to market yours at £20K more. Taking into account a new bathroom, new carpets, new modern wardrobes, general tidying up, I'd want at least £50K lower than your asking price then there is the size issue. I think you should reduce to £800K and be prepared to accept less.

If there is no reason to move then it will be one of 'those' houses. It will come off the market and then back on later (its easy to find out if that has happened!).

We saw a house last year that was vastly overpriced compared to what we had already seen. It was owned by a 65+ couple who wanted to move closer to GD. It was dated but that was to be expected seeing their ages. However some rooms smelt of BO (I know lovely!)

The EA rang me the next day and was really keen to get feedback. I told her compared to others it was very expensive (we are talking over £1m) and that some rooms needed a good airing.

People tell me all sorts - maybe I have that sort of manner but the EA said they had told the vendors it was far too high a price and that with it being dated people would have to budget for new kitchen, bathroom etc.

She asked whether she could formally pass on the feedback and I said yes providing that she called me back to tell me what they said. I know, I know. I really need to get some hobbies!

Apparently the vendors said that there was nothing wrong with the kitchen and bathrooms, after all they had stood them in good stead for the last 25 years and that it was a very desirable area. It was OK as you would expect for £1.2 million but buyers like me are extremely fussy when spending all that money.

A few weeks later it was removed and then a few months ago I saw it back on for £300k less.

@Hillingdon

I’m surprised that agent even bother taking those houses on... such a waste of their money to market and do viewings.

Our house was one of those. It’d been on the market for months when we got it. I then discovered it had been listed a couple of times before for a lot more. It seems to have taken the vendors years to get their head around the idea of selling it. We didn’t pay the bottom dollar either - we saw the potential and aimed for just about breaking even when accounting for the refurb costs.

OP’s house isn’t likely to be that dream home to anyone though...

I’m surprised that agent even bother taking those houses on... such a waste of their money to market and do viewings.

It's with an online agent so they don't care- they get their fee anyway.

In this particular case, very true - no bother to an online agent.

Hillingdon - I have just yesterday re-added a property on Rightmove after lurking for a long time out of sheer curiosity for when it would come back - but they haven't dropped the price!

It's on at £495k for an 8 bed in a very desirable area. Until you read the room dimensions. At least four of the 'bedrooms' are about 1.6m or 2m x 2.5, and only two of them are a good size overall. The downstairs space is waaaaaay too small for a family of up to ten anyway - without knocking the rooms into larger ones anyway. It only has two bathrooms. It's not in a studenty area for multiple occupation, and the garden isn't child friendly either.

All they have changed in the listing is improving the photos and aggressively opening the description with the heading REALISTICALLY PRICED. It needs severe knocking into shape to make it into a five or at most six bed, with an extra bathroom. Clearly, the owners won't accept less than their 'due' for it.

OP - do not be those people!

Jojo the ops house would be a dream house for lots of people!

I don’t think I’d be cut out for a big refurbish job.
I have the ‘vision’ but I think the stress would be huge on a big project like that when it’s your own money! I have huge admiration for anyone taking on a big remodel job like you did.

@3luckystars

Really? For people with 900k-ish budgets? Or more than 1M if you include the cost of extension, loft conversion and full refurb? Train tracks on 3 sides and the North Circular on the 4th. Bog standard terrace with a small outside space.

TBH, with that sort of budget I'd find living in such a house very depressing. Struggling to comprehend that someone would find it aspirational.

Jojo the ops house would be a dream house for lots of people!

@3luckystars no one with a budge of £900k dreams of having a dated, small, 3 bed house in Ealing with no garden on a crappy road with train tracks on 3 sides and a the circular on the other!!!!

If anyone with near enough a mil to spend finds that their dream i'll eat my hat.

I haven't read any comments. Looks lovely to me so can only be the price

Ok now, I understand what you mean, it might not be a dream house for a millionaire but for lots of other people it would be.

House is overpriced.

I know exactly where it is, and it is cut off from Ealing by the North Circular. Try crossing that in a hurry!

The decor is neither here nor there. People will gut it whatever. Next-door-but-one to us had a Smallbone of Devizes kitchen fitted before sale. Two weeks after new owners moved in it was in pieces on the drive .

The only thing I might consider is new carpets because light colours make the place look more spacious. When I sold my last place I got the very cheapest Carpetright off-white carpet fitted throughout and viewers all remarked how nice and clean the place was. And also lose some of the furniture. It's important to make the house look as if it is as big as possible.