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!

Ask your vendor for a reduction. x

Maybe they are not trying their luck. Maybe its a fair price and since only offer currently, it is the market price x

Sorry to hear about everyones stress. We have sold but are struggling to find anywhere to buy. We put our house on for a low price and sold to the first person without even going on rightmove. They were someone the estate agents knew were looking in our area, so we got very lucky.

Generally prices are plummeting and houses are not shifting. We have been looking for 8 weeks and everything that was on the market when we started looking is still there, they have all reduced massively, and nothing new is coming up. The market is totally stagnated. Probably people need to be lot more realistic about prices in our area - the agents are encouraging us to make silly low offers on things that are 100k over our budget (but they valued them so high in the first place so its a bit mad!)

Maybe yes, maybe not, but we have yet another viewing confirmed and only been on on for 6 weeks, so I'll trust my gut and not jump on their offer.
There's a house next road for £185k, in need of complete refurb, they can always go for it if it's their budget!

@Potaytoe5 you're still getting a lot of interest. Worth seeing what these buyer's come back with. If they can't increase there offer it's worth leaving it on the table and keep going with viewings.

Ah congrats on selling your house! We sold to a cash buyer the day before we went on the market the first time. They dropped out on us eventually though so here we are again.

Trying to be more realistic and have dropped price by £50K when we went back on this time. It was really difficult to do that when we've had 3 offers at our original asking price, or there abouts relatively recently.

We still have an offer on the table at our previous asking price (aka almost £50K higher than where we are now) and they are desperately trying to sell their own property but it's taken them months.

If they do sell their place I'm sure they will reduce their own offer now they've seen us go back on the market for a reduced rate. But to be honest if they do that whilst we waited months for them and our mortgage offer expired we won't be selling to them anyway.

Just really tricky all round. The problem is yes you can reduce to get the house sold, but then if no-one else is reducing you then can't afford to buy. That's the situation we are now in.

The whole market needs to shift. Buyers AND sellers need to adjust their expectations and reach compromises.

@oiltrader not many people are willing to accept a 10-15% reduction. We've just reduced by 7.5% but that's the maximum we can afford to go before we are priced out of moving altogether.

By all means try and negotiate hard with vendors, but what we are finding is that for many people will just sit right unless they absolutely have to move.

And even if they do have to move if they accept a lowball offer they then won't be able to fund their onward purchase.

Both buyers and sellers need a bit of compromise here to keep things moving. It's a horrible market for everyone and things are just grinding to a halt.

That sounds really positive, fingers crossed for an offer for you. Keep us updated!

Urgh this sucks, I'm so sorry. We have been in this situation, twice. English system is totally bonkers. Feel totally screwed by the timing of it all this time, it seems a really bad time to be going back on the market.

@Permanentlyfrazzled Considering we're already a good deal (in the current market!) I want to believe we can do better. The people who put in the offer booked second viewing with us. What they offered gets you a dated semi or a small terrace still, at least from recent sales. So fingers crossed!

The people who put in the £180K offer are coming back for a second viewing? That sounds positive, they obviously have some more to offer and are thinking about it...

Good sign.

Just had two viewings and feel a bit done! First pair were grumpy and don't think they liked it, but I hope the second couple might put in an offer. They were looking for a lot of things we have such as quiet road and large garden... keep your fingers crossed for us!

Eek good luck @Potaytoe5! You seem to have had a lot of interest after the reduction x

Just about to put dm's house on the market and bit apprehensive after reading these tales. She had to move into a nursing home in Jan, and we had a lot to clear to make it presentable/ couldn't decide whether to sell or rent/ procrastinated as its our old family home - but wishing we had got it on the market quicker now. Anxious as she needs a certain amount to have money for nursing home (fees have increased to £1250 per week!).

Best of luck @Imnotdrinkingmerlot. Not everyone is having the same experience, several have sold quickly. Leg is pricing realistically in a falling market. It is quiet at the moment, can you wait until September or do you need to sell now? Gosh those care home fees are eye watering, I feel for you!

Not heard from the estate agents today, the family that viewed on Thursday seemed to have liked the house and said they would be thinking about it over the weekend. I think it’s another no ☹️

Question on the online click statistics. I’ve not got a feel for what’s a reasonable click through rate (to view the actual house ad) and how many viewings you’d expect.

I’ve had 19k search results, 1000 clicks, one viewing, all in the first week

good, ok, awful?

@Evenstar are these the buyers who thought the living room was a bit small?

No idea...did these one from the EA? They could probably give you a steer?

@Permanentlyfrazzled yes, but they did talk in front of the agent about knocking the dining room and living room through so seemed they did like it enough to consider doing that. I think the cost might have been prohibitive with the current cost of building work/materials when they had chance to think it over.

@Evenstar how frustrating. Can you chase EA for an update so you're not hanging on for answer?

Hiya, I'm new here. We have our house on the market once more. Listed first time in March, sold within 2 days we couldn't believe it! All was going well until our buyer pulled out last Thursday as she thought we were taking too long (onward purchase was end of chain but I think she got cold feet). So the house is back on, we've had 2 viewings so far but I've got this awful feeling we won't get much more. House is on the lowest it can go really - it's the cheapest 3 bed in our smallish town. Our seller has given us time to find a new property so that's something but yeah I can't see it happening.

@Permanentlyfrazzled I will probably catch up tomorrow and see if they have heard anything, the viewers said they were going to think about it over the weekend so the agents probably wouldn’t want to pressure them by chasing today.

I’ve worked in an estate agent for 10 years (in the NW of England) and viewing requests are almost non existent at the moment. Probably a combination of school holidays and interest rates being uncertain. It definitely always quietens down during summer but this year it’s much worse.

A lot of vendors unfortunately are reluctant to reduce, but this means their house will languish unsold with zero viewings.

Typically things perk up in September, but it’s very frustrating all round. Agents don’t get paid a penny until the house sells, so it’s in our best interests to get qualified buyers through to completion as swiftly as possible.
Good luck to all on the market, your agent is trying very hard to sell your house, trust me!