What's wrong with my friends house?

[Moonflower12]

https://www.rightmove.co.uk/properties/134607254?utmcampaign=property-details&utmmcontent=buying&utmmedium=sharing&utmmsource=copytoclipboard#/&channel=RES_BUY

This is a friend's property. She has dropped the price but still not getting any interest. She has tracked the interest in the property using the Rightmove tracker.

The most interest has been when it's been on a Facebook period property page.

She had 4 EAs value the property and took the lowest valuation.

Is the Estate Agent being crap or is there another reason?

It’s a beautiful house and I doubt there’s anything wrong with the house itself to put off buyers (does need a new kitchen in near future though to bring into line with rest of the house vibe) but I imagine that would be factored into the asking price.

Therefore there are two reasons it’s not sold

1. niche property (size mostly) and just needs time on the market for the right buyer

2. it is not priced to sell in TODAYS market. There is a lot of talk of agents still trying to inflate property prices against the recent fall in the market.

With rates the way they are and the market continuing to fall (with quite depressive outlook for all but the most desirable areas in the next 5-7 years) it cannot be overpriced.

A house in my local village went up for 700£ 18 months ago, got very little interest, they relisted several times dropping small amounts each time. All the time the market has been stalling and it just recently sold for 550k. The 700k was always unachievable, had they been less greedy they could have marketed it at 625k 18 months ago and probably sold it then, rather than leaving it overpriced for a year then losing the real potential of 75k

In a very different area though clever clogs. Read my post 😊

as Howard Marks (the investor, not the drugs guy) said, there are no bad assets, only bad prices.

Exactly, you need to cut early and avoid chasing the market down.

I grew up very close by - stunning house but very expensive for the area.

Beautiful house but near what looks like a very busy road. I don’t know the area or the street but guessing that’s the reason. Also big hike in what it was bought for not that long ago.

What an absolutely stunning house!!!

Gorgeous home. All done so beautifully and I just love the bathroom.

I love the house. But if you look at streetview it really stands out among the very ordinary houses. If I was going to buy a house like that I'd like it to be on a street of similar houses - I wouldn't want to live in what looks like easily the poshest and biggest house on the street.

I find it difficult to believe a 600k house is on a bad street.

I'll eat my words, you should go for this one if you think you'll be happy their, its stunning.

The house sold for 380k in 2018, that was during the zero emergency rates period, apologies to the OP but this isn`t a 600k house.

I thought you might all like an update:

My friend took her house off the market not long after I made this thread.

She had a bit of a tumultuous year but out of the blue, her estate agent rang to say they had a cash buyer wanting a house like hers. They came and viewed it- loved it and offered £590k as long as they could complete within 6 weeks. She is currently packing like a loon and is very happy to be doing so!

How lovely for her. Its such a coincidence but I was just thinking about her house at the weekend as I remember your original post and how absolutely beautiful her house was.
I hope she's managed to find some where equally lovely and that she's content in it

It’s in Wolverhampton lol. Sorry.

Oh @Gatekeeper i also thought about it a few weeks ago when I was in the area.

Glad it all worked out for her.

oh bore off @Junaluma lol 🙄

I love an update - especially such a positive one.

Congratulations to your friend!

Dear old Crashy - proved wrong once again 😂

An update!
Yay! Bet she's v happy.

She is very happy!
She is looking for a house in the countryside now- Gloucestershire, Herefordshire, Worcestershire or South Warwickshire.

That's a great update, thank you Op!

Declutter declutter declutter

There's too much going on, puts me off right away.

A) Thread is nearly a year old
B) OP has updated it to say it's under offer
C) Even if you didn't notice B) the Rightmove listing shows it as off the market because B)
D) There isn't any clutter anyway. It's beautifully presented, it just isn't a grey box

Thank you for the update OP, such brilliant news for your friend. I recommend Gloucestershire 😎

IF I had to nitpick.... it was £200,000 less 6 years ago but it looks like there is still work to be done:
Internal doors don't match the Edwardian period
The kitchen and bathroom look a 'Mis-mash' of units
There is lack of storage - ie/ if I was buying I'd have to sort out / bring with me wardrobes etc
1 bathroom / 1 en-suite and 1 downstairs toilet is inadequate for 6 bedrooms
No garage
And it doesn't matter that the paint is Farrow and Ball if I don't like the colours!
However this is such a lovely house and wouldn't get a crappy 3 bed where I live!

It's a lovely house, but very big! Perhaps people just aren't moving into very large houses in (lets face it) inner Wolverhampton?
I took a look at google street view and it's quite a tight road, with a LOT of on-road parking. It's also the biggest/nicest looking house on the street by quite a lot. I'd be a bit worried about it being a target for opportunists. It's also a fair bit closer to the street than it looks in the estate agent pics.
The only internal bit I didn't care for was the kitchen. It looked like a bit of a hodge-podge.