House on the market over year?

[IloveSooty424]

I’m going to view this house tomorrow. It’s been on the market for over a year and was relisted on RightMove in January. I have asked the vendor about the price twice once when it first went on the market and again this week. I asked the estate agent if they’d be willing to be down to £250,000 but the vendor insists he wants £260,000. I would be willing to pay 260 but was wondering why it hasn’t sold i the past year other than the price. It’s on a fairly busy road but it’s set back from the road and other houses on that road have sold in the meantime. Here’s the link:

www.rightmove.co.uk/properties/87223162#/

That may be why - if he isn't willing to negotiate he hasn't had a buyer willing to pay asking price. If it's in line with other houses (say within a few percentage points) and you love it the go for it at full asking.

Yes I think you’re right. A period 4 bedroom semi detached house on the same road has just gone on the market for £270,000. Similar houses sold last year for £250,000 so I wouldn’t say the house is overpriced. I think the seller is being stubborn about the price. They bought it in 2017 and have completely renovated it and think they want a decent profit on it.

I live pretty near to this, and I think it's about the right price for the area. It looks fabulous!

Thanks @Spongebob it’s a lovely house and worth the asking price. We used to rent a flat on Second Avenue that’s just around the corner so know the area well.

they brought the house for £177k in 2017.....i dont know the area but i think almost 100k up in 3 years is a little steep....however the housing market is insane at the minute so its not suprising

when i compare it to this one though....i think its wayy to overpriced
www.rightmove.co.uk/house-prices/detailMatching.html?prop=90508727&sale=91691358&country=england

Price is always the issue when properties don’t sell. But many vendors completely over estimate the value. The market always decides the value. If someone has had their house on the market for 12mths and haven’t reduced the price they are either deluded or aren’t that serious about selling IMHO.

there are 3 near me...been on Rightmove for over 2 years...way overpriced...over extended...look hideous...reduced about 4 times but still too dear.

The photo of the front garden makes the place look a bit run down, it’s a pity since it’s not reflected on the inside.

[quote mklanch]they brought the house for £177k in 2017.....i dont know the area but i think almost 100k up in 3 years is a little steep....however the housing market is insane at the minute so its not suprising

when i compare it to this one though....i think its wayy to overpriced
www.rightmove.co.uk/house-prices/detailMatching.html?prop=90508727&sale=91691358&country=england[/quote]
That is a lovely house and is actually a bargain. The same house in that style is now selling at £270,000 which is an insane increase. I will look tomorrow and see if I think it’s worth it. Also the road may be too noisy for me.

If you look at the location on the map, it shows a nursery next door, could that be the reason it hasn't sold.

@Electriccircus

If you look at the location on the map, it shows a nursery next door, could that be the reason it hasn't sold.

I have thought about that. I don’t think the nursery has an outdoor play area by looking at Google Earth but cars dropping children off may put people off.

Houses are worth what you are willing to pay, no more no less. If it's been relisted, it may be they lost a buyer

The nursery will have an outdoor play area (possibly at the side - there are numbers on the wall if you look from Second Avenue and there's also what looks, to me, like a canopy covered area on the other side next to the house - it might be enclosed, I'm not sure). I don't think that'd bother me but you need to go and check it out when the nursery is open. It does look a nice house but I think the vendors are being greedy with the price hike, considering they've only been there a few years. They sound like they could be nightmare vendors too, so be wary.

Picture 3 looks really overlooked, I have no idea on the area but for only 10k more you could get this
www.rightmove.co.uk/properties/104196656#/

It's a detached house so £260k is about right for the area. I've just bought a 3 bed 30s semi for £190k in blythe bridge and we have similar properties up for sale around the same price op.

It looks really overlooked.that would totally put me off. nice house though

It's lovely but wouldn't live on a busy road again. We like to entertain and that sucks when there's no place for guests to park.

after the year we had I wouldn't put too much thought on length of listing tbh.

It's fairly unlikely you'll be told the real reason they're moving (if it's a big negative) but I would at least dig

To buy a house in 2017, spend so much time and money improving it and then move soon after would be a concern for me

If you view the map as a satellite view the nursery appears to have a fairly large area for parking. Other than the nursery I can't see any negatives. The road does look like a main road but the house is set back. I can't imagine the children make that much noise if they are outside at nursery and I can't see an outside play area anyway

Possibly way overpriced?

We went to view it yesterday and the traffic noise was horrendous. It was a constant stream of cars, buses and lorries going past that you clearly could hear indoors and in the back garden. I’m very noise sensitive and the pollution would be awful especially for my 7 year old. Also the house needed quite a lot of repair work to the carport/ garage which was falling apart.

We are now looking for detached house on a quiet street!

It's possible that it's just bad luck and it's 'sold' but not made it to exchange.

I have a friend that's sold their house twice in the past 9 months, got past surveys and then the buyer has had their mortgage agreement pulled because they've been put on furlough.

yes the nursery is a big negative, overlooking of your back garden. Also possible noise and traffic.

I can't see where you would eat - I would check if the island can be moved to create space for a kitchen table tbh. The house does look nice tho.

ah ok didn't see your update OP!

Also, when it rains the road noise gets a lot louder!

It looks like they've done something odd to the upstairs hallway and boxed it in to create a 4th 'bedroom' - which must be tiny as it's got a pocket sliding door. It looks like it would make the downstairs hall quite gloomy as a result too.

I'd bet that the vendor is insisting it is now a 4 bed with unrealistic £ expectations as a result and the agent is marketing and pricing as a three bed.