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Original poster

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273 replies

Fimilo · 16/07/2023 15:26

First time poster long time lurker, sorry if not in the right place. We have put our house on the market, in Scotland the home report determines the market value. We have put it as offers over but £5000 under the market value.

House has been on the market for just over 2 weeks with not one viewing, last house in the street sold for £10,000 over ours current market value. They are very rarely available, ours is a blank canvas for someone to walk into and make their own.

At a loss as to why, unsure if we should reduce the price, change estate agents, take it off the market completely just now. So disheartening.

Any advice welcome

OP posts:
Original poster
Fimilo · 16/07/2023 16:01

Fallenangelofthenorth · 16/07/2023 15:51

I think it's lovely. I do think a lot of people are nervous right now though. I was considering downsizing (which I know in a falling market makes sense) but I ended up deciding to stay as at least if things get bad I can rent a room out. And I can't face the stress of worrying about being gazundered. I'd speak to your agent as they'll understand the local market hopefully.

Thank you, it's nice to know our house isn't horrid lol. All sorts goes through your head when there is no interest.

They have been staying the same of school holidays and the market etc

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Original poster
Fimilo · 16/07/2023 16:03

spiderplantparty · 16/07/2023 15:55

I think the problem is partly to do with the offers over system in Scotland. I normally assume people are looking for about 10% over the asking price which would be a considerable amount in this case and may be higher than you are looking for.

I hate offers over but too soon to move to a fixed price. I wouldn't be looking for 10% over but people may think they need too

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SummerSun04 · 16/07/2023 16:03

Houses are being listed much lower under the home report value currently in order to get interest, and then sell above offers over with the competition created. People might think that you're looking for much more than they could bid as it's listed quite high, e.g. there's another 3 bed listed for 20k cheaper and a 4 bed listed for only 5k more.

BunnyBettChetwynd · 16/07/2023 16:04

Just noticed in the last few weeks that a few have fallen through and gone back up for sale. Also ones that would have been snapped up in days are sitting on the market, still for sale weeks later

We're also seeing this here in SW England.

Original poster
Fimilo · 16/07/2023 16:05

MissyB1 · 16/07/2023 15:56

Isn’t it traditionally quiet on the housing market in the summer holidays anyway? I would have waited until September. And the news is full of the mortgage interest rises which doesn’t help.

It’s a lovely house though, nothing wrong with it at all. I suspect just bad timing.

Yeah it's the summer holidays here which definitely hasn't helped

We had to put up as we have had an offer accepted on another house or we may have waited

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Unexpectedlysinglemum · 16/07/2023 16:06

It's presented nicely and clutter free whcih is great! Maybe ppl struggling with mortgages

Original poster
Fimilo · 16/07/2023 16:06

bellac11 · 16/07/2023 16:00

I dont know the area at all and theres nothing wrong with your house at all, its nice

But when you click on the link and further down the page there are suggestions for similar properties, there is a house on Glen Douglas Drive, its detached, dont know the road obviously and it probably needs a bit of tidying compared to yours but is still nice, but its a lot bigger and also on at 245k

Perhaps you need to rethink your prices

This is going to sound awful but there are areas that reflect the price. So ours is probably high up the places to stay then where the other property is. I can't say anything as we are actually moving to that same estate if this sells 😂 we probably do need to rethink the price in this market.

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freetheunicorn1 · 16/07/2023 16:07

Bloody hell I need to move to Cumbernauld at that price 😃 . Lovely house.

I think it is too early to be concerned, school holidays etc. Is it trades with you? That is always a busy holiday time.

I certainly wouldn't touch the price yet.

Original poster
Fimilo · 16/07/2023 16:08

Unexpectedlysinglemum · 16/07/2023 16:06

It's presented nicely and clutter free whcih is great! Maybe ppl struggling with mortgages

What a task it was to do with 2 kids as well 😂😂

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Original poster
Fimilo · 16/07/2023 16:08

freetheunicorn1 · 16/07/2023 16:07

Bloody hell I need to move to Cumbernauld at that price 😃 . Lovely house.

I think it is too early to be concerned, school holidays etc. Is it trades with you? That is always a busy holiday time.

I certainly wouldn't touch the price yet.

Buy ours 😂 think I'm just so keen to sell and would be gutted if the other house fell through because of it.

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Original poster
Fimilo · 16/07/2023 16:09

SummerSun04 · 16/07/2023 16:03

Houses are being listed much lower under the home report value currently in order to get interest, and then sell above offers over with the competition created. People might think that you're looking for much more than they could bid as it's listed quite high, e.g. there's another 3 bed listed for 20k cheaper and a 4 bed listed for only 5k more.

Yeah possibly could be that. It's such a minefield

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noodles20 · 16/07/2023 16:11

I'm Scotland too and my house went on the market 5th June. We've had about 26/27 viewers in total. Most of which were the first few weeks. Two different people were interested but couldn't get mortgages. Last viewer was Thursday, which had been booked for a week and we have no more lined up. Like yours its offers over 5k less than the valuation. Estate agents are telling us to hold tight and not reduce price etc. Theyre saying on average it took 6 weeks to sell a property but its went up to about 8 weeks now.

We have lived here for 16 years and houses normally go very quickly. An identical house in the street next to ours went quickly at 17k over the asking price just a few weeks before ours went on the market. It seems like bad luck with the timing we out ours on as the interest rates increased again the other week. Its so frustrating and stressful. We are trying to relocate with 2 kids and have had an offer accepted on another property. Terrified they will put theirs back on the market although they would probably face the same issues as us.

mnahmnah · 16/07/2023 16:13

I would agree with a PP who said bedroom 3 isn’t really a bedroom. We’re in the process of moving at the moment and have viewed lots of houses. I don’t think I would have viewed yours because with two young children, I wouldn’t use a downstairs room as a bedroom. Also, because the garden doesn’t have a lot of lawn space.

jennyjones198080 · 16/07/2023 16:13

I think it may be a little overpriced.

is this house geographically close?

https://www.rightmove.co.uk/properties/86242398#/?channel=RES_BUY

your house is lovely - looks well cared for and clean. But decor wise the bathroom is a very specific taste.

Check out this 4 bedroom detached house for sale on Rightmove

4 bedroom detached house for sale in Ratho Drive, Carrickstone G68 for £269,995. Marketed by K Property, Cumbernauld

https://www.rightmove.co.uk/properties/86242398#/?channel=RES_BUY

SummerSun04 · 16/07/2023 16:13

Yes, if you're looking for 270, you'd list for o.o 240. People with a 270k budget will likely have set search parameters to 250 and may be missing your house? With mortgages being so difficult just now people may be less likely to search above their budget as it's too much to stretch. I'm helping a relative sell just now and was surprised to hear 2 estate agents saying how much they should list under the market value and how high it would sell over. The o.o system is such a farce, I prefer a fixed price.

Original poster
Fimilo · 16/07/2023 16:15

RhymingGuitars · 16/07/2023 16:00

Just quick thoughts:

  1. it's a 2bedroom not 3.
  2. Says it has 2bathrooms - can only see one in the floor plan (and a downstairs toilet).
  3. The kitchen is mismatched. None of the colours complement each other. I'd be working out how much it would cost me to change.
  4. pictures make the kitchen look pokey with little work surface 5)sorry - it's very 1990's with the dark wood door/windows, staircase and hall tiles. Again I'd be costing up replacements
  5. Family bathroom is very dark. It's not to my taste - something else I'd be costing up to change. I'd also be wondering what was hiding under the wood clad ceiling.
  6. first picture of the outside space at the rear of the house makes the house look like it's sinking - I'd ask the agent to remove it.
  7. 3rd picture of the outside space - what is that sandy bank? It spoils the look of the garden and could do with tidying up
  8. The estate looks well kept - which is a good sign.

Overall, I'd compare yours to ones in a similar price range and if the area/house was comparable but decorated/presented more to my taste, eg a kitchen with work space and coordinating decor I'd give yours a miss because for me it needs work.

1- it is a 3 bedroom
2 - all get classed as 2 with a downstairs loo here and was sold to us with that too and others in the estate
3 - not changing the kitchen due to the cost

4- fair enough
5- that is the style of all the doors and windows in the estate so keeping in with that
6- there is no wood clad in the bathroom ceiling
7- the sandy bank is stones
The house isn't sinking either but thanks for the pointers

OP posts:
maxi2100 · 16/07/2023 16:16

It's listed as 3 beds when it is clearly 2 beds. You can't just call a dining room downstairs a bedroom.

Original poster
Fimilo · 16/07/2023 16:17

maxi2100 · 16/07/2023 16:16

It's listed as 3 beds when it is clearly 2 beds. You can't just call a dining room downstairs a bedroom.

It's not a down stairs dining room and not just saying it's a bedroom. It is classed as a 3 bedroom. Dining room is in the living room

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Original poster
Fimilo · 16/07/2023 16:18

jennyjones198080 · 16/07/2023 16:13

I think it may be a little overpriced.

is this house geographically close?

https://www.rightmove.co.uk/properties/86242398#/?channel=RES_BUY

your house is lovely - looks well cared for and clean. But decor wise the bathroom is a very specific taste.

It is but in a very gruby estate that I wouldn't touch

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mnahmnah · 16/07/2023 16:18

@Fimilo

If you see my earlier post, I also would not class bedroom 3 as a bedroom. It would be a study or dining room to me. I wouldn’t view it.

Original poster
Fimilo · 16/07/2023 16:25

Thank you for all your responses. Nice to know it's not that bad of a house although not to everyone's taste. It may suit a couple, family starting out, down sizing, people looking for one level living to an extent etc. Will hang fire see what comes from the market once the school holidays are over

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Starseeking · 16/07/2023 16:25

Your house is in immaculate condition, and ready to move in to. Perhaps you needed to go lower with the price m, as £10k under recent sale might not be enough, given the state of the economy.

If you aren't desperate to move right now, I'd be tempted to take it off the market.

Original poster
Fimilo · 16/07/2023 16:25

mnahmnah · 16/07/2023 16:18

@Fimilo

If you see my earlier post, I also would not class bedroom 3 as a bedroom. It would be a study or dining room to me. I wouldn’t view it.

That's fair enough and your opinion. I have not made it into a 3 bedroom that is what it is and people can choose to use it as one or not

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Original poster
Fimilo · 16/07/2023 16:27

Starseeking · 16/07/2023 16:25

Your house is in immaculate condition, and ready to move in to. Perhaps you needed to go lower with the price m, as £10k under recent sale might not be enough, given the state of the economy.

If you aren't desperate to move right now, I'd be tempted to take it off the market.

We may have to reduce it.

If we didn't have an offer accepted on another house then we probably would. I would be gutted to miss out on it but what will be will be

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cocksstrideintheevening · 16/07/2023 16:29

Summer holidays are always slow, I work in real estate and it's cyclical. There will be an uptick in September and then a slow
Down in the run up to Christmas.

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