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Original poster

Should I be suspicious of houses that have been on Rightmove a long time?

43 replies

Poppie363 · 22/04/2021 17:14

Should I be suspicious of houses that have been on Rightmove for a long time (I.e since summer 2020) but don’t appear to have anything outwardly wrong with them (don’t look to be falling apart, not overpriced for the area)? I’m looking in a city and have seen one or two houses which seem fine but I’m wondering why they’ve been up for so long.

OP posts:
SimonJT · 23/04/2021 07:06

It depends on the area and type of property, the penthouse in our building has been for sale since 2019, the building is lovely, well maintained, you get a share of the freehold etc. But the penthouse is expensive, it is definitely at market rate, but if you have the cash to spend that much on a property you have greater choice.

minniemomo · 23/04/2021 07:36

Some cities aren't selling because there's no buyers. I have a house on the market and none of the similar sized houses are selling currently. Estate agent assured us it's just the local market is stalled due to covid

gorillasinthemist · 23/04/2021 10:05

@SimonJT

It depends on the area and type of property, the penthouse in our building has been for sale since 2019, the building is lovely, well maintained, you get a share of the freehold etc. But the penthouse is expensive, it is definitely at market rate, but if you have the cash to spend that much on a property you have greater choice.
Presumably potential sellers with that amount of cash to spend have chosen to spend it on something better. Hence, the penthouse is overpriced. If something has been on the market for 2 years, particularly at a time when the marker has been flying in most areas, there is something wrong surely?
Bells3032 · 23/04/2021 10:06

Not always. there could be a number of reason including over priced. We currently have my grandfather's flat on the market for a year. it's been under offer at asking price three times in that time and all have pulled out due to no fault of the flat (first one changed his mind and ghosted us, the second decided he wanted a house and the third was selling her property and that fell through due to various issues) so it's still on the market

gorillasinthemist · 23/04/2021 10:06

@minniemomo

Some cities aren't selling because there's no buyers. I have a house on the market and none of the similar sized houses are selling currently. Estate agent assured us it's just the local market is stalled due to covid
Whereabouts are you roughly @minniemomo?

Prices and demand have rocketed in many areas.

SimonJT · 23/04/2021 10:07

@gorillasinthemist It isn’t over priced, its actually very reasonable. The property market here is very slow at the moment, my flat had been on the market almost a year before I bought it.

Starseeking · 23/04/2021 10:14

One property on Rightmove for over a year that I called up about was actually sold subject to contract but going through probate. It seemed that the agent left it up despite it being under offer to maintain interest, in case the buyer got fed up and walked away.

Also, there's a property a few doors down from me and and on the opposite side of the road that's on for almost £1m, and has been on the market since before the first lockdown. On a road where properties go for between £250k flats and £600k houses, it's an outlier. I sold my house for just under £500k in 3 days earlier this week, so the market is very busy round here.

This expensive house is by far the best house with the most space on the road, but I doubt anyone wanting to spend almost £1m would choose to live here. They need to reduce the price by at least £200k, then they might start to generate interest, as it's overpriced.

RaeRaeMama · 23/04/2021 10:16

@Poppie363

Should I be suspicious of houses that have been on Rightmove for a long time (I.e since summer 2020) but don’t appear to have anything outwardly wrong with them (don’t look to be falling apart, not overpriced for the area)? I’m looking in a city and have seen one or two houses which seem fine but I’m wondering why they’ve been up for so long.
The property could have SSTC then fallen, through no fault of the property. Just ring the agent and ask if it's sold before.
coronabeer · 23/04/2021 10:24

Can be a bit of a vicious circle... people notice the property has been on the market for a while and assume there must be something wrong with it so it doesn't get much interest and continues to hang around.
If they look fine on paper, why not have a look? What have you got to lose except for a bit of time?

gorillasinthemist · 23/04/2021 10:28

@SimonJT
Yes, I hear the market for flats in London is slow. Surely that just proves my point that it is overpriced for the current market given that it hasn't sold since 2019.

Sssloou · 23/04/2021 10:31

Might be something close by to the property. I always do a drive by before I book and appointment to view even if the property and price look perfect. I am v fussy about the surroundings.

Each time I have been house hunting I have only seen two properties inside.

NotMeNoNo · 23/04/2021 11:57

Basically you need to find out the reason

  • Sales falling through (bad luck) or difficult sellers who won't take an offer
  • House is niche or unusual with small pool of buyers e.g. particularly large or small garden (this might not be a problem for you)
  • Issue concealed in listing such as structural problem

There was one house locally that we looked at, had terrible alterations that would cost a lot to remedy - awkwardly divided bedrooms etc. The vendors thought there was nothing wrong with it. Eventually sold 10 years later for less than the original listing!

BackforGood · 23/04/2021 15:46

As with all house / property sales, there is no 'fixed' price - the price that someone is willing to pay that the vendor is willing to accept ends up being the price.
Sometimes you just get lucky - there's a house a few down from me that a developer bought and flipped (is that the term ? - did up to sell?) which we were all chortling at his optimism of the ridiculous price it went up for, and yet it sold really quickly (people moving up from London thought it was a bargain I suspect). Just either really good marketing, or a stroke of luck. OTOH, I see properties sometimes that I just can't fathom why property A is so much more than property B, when property B is better in so many ways. It's just odd.
Then of course you get people who don't need to sell, but would sell if they can get the price they want for it. You never know, one day someone will come along who, for whatever reason particularly wants that house. Then you get different features that would be a big NO for some people and that reduces the % of folk who would even consider it. Doesn't mean that one buyer won't come along and think it is worth it to them.
On these threads, I think they attract a lot of posters who move regularly, and always have one eye on whther the next buyer would like X or Y, whereas many people live in their house for 20,30, 50 years or more so that becomes quite unimportant.

emmathedilemma · 23/04/2021 16:07

I think people become suspicious of them because they've been on the market so long and hence they don't even view them. My neighbours took their home off the market at the end of last year even though 3 identical properties in various conditions in the street sold quickly for the same price or more. Theirs went on the market just before lockdown and they reckon people were suspicious because it had been on so long, but for 3 of those months no one could come to view it!!

NewHouseNewMe · 23/04/2021 19:38

There's usually a reason around here. Either there is a planning issue, structural problems, awkward buyers or no garden worth speaking of.
Everything else sells at a price.

leavingtime · 23/04/2021 20:02

There are 2 places I can immediately think of which have been on the market for ages. Both are ok internally but the kitchen design in one is odd but not awful, can be easily changed. The other is directly off a pavement on a busy road, but many houses on that road sell ok.

What they both have in common are very small gardens. One has a shared courtyard garden, not unusual for old cottages. Gardens seem to be quite important especially if bought by a family and as the houses are priced the same as ones with decent sized gardens so they aren't bargains either.

Roodicus21 · 23/04/2021 20:15

I wouldn't be immediately suspicious. We sold our house originally in July 2020. close to exchange the buyer had a change of circs so couldn't afford it and we relisted in November. As we hadn't changed price it went to the bottom of the Rightmove queue, so to new people looking it would appear it had been hanging around for months when it wasn't. We did eventually reduce price as we then needed a quick sale as we had onward purchase. Once price reduced it bumped to the top and we sold in a week.

BackforGood · 23/04/2021 20:22

Just noticed a 'Sold' sign on a house down our road that has had the 'For Sale' board up for 3, maybe 4 years. Houses seem to be selling really quickly at the moment, and the right buyer has just found the right house.

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