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Original poster

No offers...

36 replies

ohhddear · 22/04/2022 16:51

Our house has been on the market for about two weeks. We've had lots of viewings. Some second viewings. One third viewing! But no-one has offered. I'm thinking that the house must be overpriced but it seems strange that no-one has even put in a lower offer.

We are in London suburbs. Houses we have been interested in have gone for higher than asking. Our house is in a good area, well maintained, and we've had some positive feedback (as well as people who think it's not right for them... fair enough!). Is this is a cost of living thing potentially?

OP posts:
AprilMae · 22/04/2022 19:04

Amis not ‘smog’ lol

Starseeking · 22/04/2022 19:24

A house near me is horrifically overpriced.

The last very similar house sold on that road sold in July 2021 for £200k less than what they've put it on for.

Even if prices have risen 15% in the last year, it wouldn't equate to such an increase, so giving them the benefit of the doubt plus a bit extra, they are asking £100k too much due to "development potential" (their plot has a side garage, while others don't). If the price was set £100k lower (which would still be £100k over what last 2021 house sold for), I'd go and view it.

Anyone who'd need a mortgage wouldn't secure one at that valuation, unless they had such a significant amount of equity, that a gap in valuation wouldn't make a difference to them.

It may be that your house is THAT kind of house OP. You'll need to appraise honestly, as it's unusual for decently priced houses not to fly off the shelf immediately they come on,

WildOnce · 22/04/2022 19:25

It’s the price. Everyone is being told on other threads that things are going for over asking so people won’t bother putting in lower offers and the whole ‘offers over trend’ is off putting. We have just had an offer accepted on a house which had been on the market for ages. Was 450, went to 425 then 400. We offered between 400 and 425 the day after it was reduced and offer was accepted. It has a small garden which was reflected in the lower price (eventually). There will be something putting people off and unfortunately only lowering the price will tempt people.

SpidersareTapdancing · 22/04/2022 19:27

Can't you name change after you're done with this thread?

SunnyShiner · 22/04/2022 23:13

We need a link

Volterra · 23/04/2022 04:12

WildOnce · 22/04/2022 19:25

It’s the price. Everyone is being told on other threads that things are going for over asking so people won’t bother putting in lower offers and the whole ‘offers over trend’ is off putting. We have just had an offer accepted on a house which had been on the market for ages. Was 450, went to 425 then 400. We offered between 400 and 425 the day after it was reduced and offer was accepted. It has a small garden which was reflected in the lower price (eventually). There will be something putting people off and unfortunately only lowering the price will tempt people.

Exactly this. We reduced a little and ended up with several offers in the region we were looking for anyway that just didn't happen pre reduction. People feel they have to come up with a reason why and you her a variety of reasons why but basically they feel it isn't worth the asking price a few think in this climate lower offer will be refused so don't bother trying.

NewHouseNewMe · 23/04/2022 23:34

Are you comfortable saying roughly which suburb and the price range? It won’t be identifying if vague enough, e.g. Richmond, £1m
There is a price point which is always tough to sell and at which houses either need to be priced for renovation or in “walk in” condition. If the house is priced keenly, it’s just a case of waiting..

JustJam4Tea · 24/04/2022 06:46

We looked round some overpriced ones, more than once, to try and get a feel for the area. Eventually went for one where got more for our money. But we were honest with estate agents…

Billandben444 · 24/04/2022 07:16

Don't link your house. I'd ask the EA for honest feedback from the return viewings. It may be that more people would come and look if you dropped just enough to put you in another price bracket? Anything will sell if the price is right.

DogInATent · 24/04/2022 09:40

Thinking about this again, because "over-priced" on its own wouldn't explain the second and third viewings - I think most people wouldn't come back if the pricing was that obvious. I wonder if the price bracket you've put yourselves in with the asking price is pitching your property against much better properties for the same money. Your property is getting short-listed for second-viewing, but keeps getting dropped because for the same money there are obviously better options.

If you drop your price, will your property become the 'better than the rest' choice amongst its peers rather than the 'not quite as good'?

Original poster
ohhddear · 05/05/2022 22:38

Happy to update that we have now had two offers at close to the asking price and lots more viewings. I think there was something weird going on with Rightmove maybe.

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