Anyone else trying to sell their house?

[Permanentlyfrazzled]

How many viewings are you getting?

Fourth time on the market in 9 months due to multiple chains falling through and feeling very disheartened. This time we've gone on at a 50K reduction from our previous asking price (which we achieved multiple times) but we recognise that the market has changed.

Despite a massive reduction viewings seem really slow. We've had 4 viewings in just under four weeks and one second viewing, but no offers.

How is everyone else getting on? Is it just the market at the moment? I'm trying to tell myself that it's the mortgage rate rises and the summer holidays.

We can't afford to reduce again as we won't be able to buy. House prices in our area aren't coming down as quickly as we've reduced.

We are in Surrey. Thank you!

My son had his offer accepted he’s a FTB with a big deposit
fingers crossed it’s all going through nicely
The sellers bit his hand off at his offer 😂

Frustrating here as we’ve had an asking price offer rejected as we’ve not sold out yet (even though the seller hasn’t found anywhere to go to) and have reduced ours but still no viewings.

@CharlOctober Yeh me too 😩I feel like we missed the selling boat this year.
Husband is a designer and such a bloody perfectionist -- he wanted to paint the skirting boards, put down new carpet, wallpaper bedrooms, even renew garden decking etc. etc. So ... instead of being ready to go on the market in early May as I wanted, we went on 1st June.
I am horribly addicted to RightMove and Zoopla and I can see that none of the houses in the same price bracket and postcode are being Sold, so I feel a bit relieved it's not just us. Last year houses were being sold within a week.
On the upside, the town where we're hoping to re-locate seems to be stagnating too, as nothing is going to 'Under Offer' or STC.
We've just got to keep hoping for a good enough offer to move on a property ourselves.

It just seems so tricky to gage at the minute. My area is apparently still ‘hot’ and a sellers market. But I’ve noticed many houses have been taken off the market, and some have been on sale or STC for many months. Are buyers getting jittery?

It also doesn’t seem to matter so much, maybe I’m wrong, about the ‘right selling price’ as houses on my street have sold for 390, or 330, and even auction at 270 - and honestly they don’t look that different from each other. The 390 sold in March, 330 recently, surely if it’s a ‘hot’ market they shouldn’t have dropped 60,000 in 3 months?!

@HopefulSeller I’m afraid that interest rates and col have really affected the market. The prices you quote tell the tale. Things are definitely not as buoyant for sellers as they were earlier in the year.

Interesting. I wonder what will happen to all the FTBs who are delaying buying. Where I am, rental prices have gone insane. If was still renting, I'd be paying hundreds of pounds a month more on rent.

Presumably, if interest rates drop at some point, then there's going to be a massive amount of pent up demand, much like after the covid lockdown.

I doubt that landlords will reduce rents though. I've never known those to go down.

We keep having strange feedback from viewings - 1 said they felt we didn't have enough parking even though we have a huge car park for residents and its free!

I wouldn't put much stock in viewing feedback... I deliberately don't say much because its rude to slag off someones home.

I think the most I have ever said against an occupied house is 'sorry we didn't realize the owner is a smoker' which was just a fact. I usually just say the owners where lovely (they pretty much all have been) and that we are still looking though.

Saying we need to redecorate the whole house because the colour scheme and wallpaper is mega tacky or I hate the renovations the owner has done and will be redoing them all or it clearly stinks of damp (which are true things I have thought at times while viewing) doesn't really help anyone.

I think when pushed for a reason by estate agents people tend to just try and pick something unoffensive to say (like 'not enough parking') thats not nasty to the people who live there (because saying they smell and have no taste would obviously be unnecessarily hurtful).

The only feedback we've had was "too small" for both garden and house. The house is priced the same as all the other houses this size and this condition so why can't people see from the photos and floorplan etc? I'm thinking the same as @JusthereforXmas - people just saying anything and "too small" is inoffensive, if incorrect.

Sigh Yeah viewer's feedback isn't always helpful. We had 2 viewings this week and both said the garden was too small 'but they'd have a think' about it.
The details clearly show it's a large house in the centre of town, but it has a fair size town garden -- a big decked outside space with table and chairs for drinks, dining, get-togethers etc., a gravelled area with a fire pit and bench seats, space for BBQs, there's an apple tree, a honey locust tree, a magnolia, wisteria, plenty of shrubs, we even have room for a shed and a sizeable catio.
Plus there's also a well-planted front garden with parking.
Feedback on the actual house is very positive as in 'We really loved it' so perhaps it's just something to say to make the EA go away ? The house obviously wasn't right for them but they can't exactly say why ...

They say buyers make up their minds in a few seconds, not sure if that’s true but for such a big purchase I think we as people are surprisingly non logical when it comes to house buying!

I’m putting mine on the market in a week, but already the EAs have given me an insight. They were visibly put off by very easy to change cosmetic things, saying ‘that’s a lot of work’ when it really wasn’t. So I knew that I had to change that (mostly painting). Whereas things they didn’t really factor in (needing new boiler) is a lot more money.

@Jacquel666 it does sound like it’s an attractive house, and the comments may not be that meaningful because it just could have been something the buyer wasnt’ even really aware of themselves, it just wasnt’ ‘their’ ideal home. Perhaps true of you also @HangerLaneGyratorySystem ?

If it wasn’t so outing we should ideally have a look at each others house! I know we can’t, far too revealing for me!

Viewers last week looked horrified as they walked up the drive! In and out in around 5 minutes it was embarrassing and I don’t embarrass easily!

@MidnightMeltdown I agree, in my area I think if I were a buyer I’d be getting a bargain at the moment. You can get a house now for the same price it was 2 years ago, but 1 year ago they were 30,000 more.

I’m a bit worried I’m selling in a dip, and that because I have to wait to buy for 6 months (not moving out of rented until next year) I might end up not affording a home in an OK area. I really don’t want to go back to living in ‘lively’ (dodgy) areas again with my younger child!

@HangerLaneGyratorySystem why on earth would they be horrified?

its hard to say - what are people “seeing” on the Rightmove listing that makes them want to view, that they then see so differently on arrival? Our street view is years old - new windows since then, parking arrangements slightly re shuffled, but the agents external photos are clear enough.

The man kept saying “oh dear” and “this must be difficult for you” …!!

@HangerLaneGyratorySystem oh dear!!! I'm sorry to hear that. So many viewers don't seem to look at the house details properly. Honestly, I lurk so much on property sites I could take an exam on every property I'm interested in.
@HopefulSeller Yep, people are strange!
We did see one viewer on the door-cam have a little trip through the front garden gate ... maybe it turned them against the house LOL

Blimey! @HangerLaneGyratorySystem how odd. Especially as he had turned up for a viewing, having clearly seen pictures. Maybe his wife had booked them in, or he hadn’t even looked first and was expecting something different.

@Jacquel666 oh no perhaps it did! I’m getting nervous about ‘right pricing’ my house. All the reports of ‘price it well’ or expect to have it sitting for months and go for less…

My EA said today that she's got zero viewings booked for this weekend for any of the houses on their books and that the only viewings she had last weekend were for our house. Said it's very very quiet at the moment and they aren't even receiving enquiries on properties either. Not sure what to do really, we are off on holiday next week so I am just going to forget about it!

@Skipskipperroo enjoy your holiday, and hopefully things will pick up!

Hi all, I've just read through the entire thread with interest - we're not desperate to move but if the right one came up that we could make a forever home we'd be interested. Had a valuation done earlier this week and the EA advised to hold out and wait to see what the market is doing as it's going through a strange / stagnant time, seems like that was helpful advice given some of the experiences you've all mentioned.

She also mentioned that most property deals round here are being made before they get online to Rightmove etc, and the EAs are using their data bases and contacts more than ever to proactively arrange viewings, rather than prospective buyers getting in contact with them, which I found really interesting (and explains why hardly anything is coming on to market online, it's already been snapped up)!

How's everyone getting on?

We had a great viewing at the weekend, first time buyers, currently renting, asked loads of Qs and told me at the end they were definitely interested and were going to phone the estate agents that day.

This morning, phone call from the estate agents - they've had an issue with affordability and need to wait a couple more months before looking to buy.

Soo frustrating for us but it was nice to have a positive viewing for once, all the others so far have been in and out in 5 minutes!!

Mortgage rates are already higher than during the Truss budget, media dont seem to be Trumpeting about it though? No idea why people think the old "viewing/buying seasons" still apply, we are in the middle of a major sea change for how debt and property are priced, the time of year doesnt count for much now.

Wish I could remember Crashy's previous user name, but the typeface gives it away, bit like years ago when people used to write bizarre complaints in capitals and green ink ...