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?

@onanotherday
I'll suggest that to her. Thank you 😊

This. They’ve done nothing to add £200k to the value. They are taking the piss listing it at that price.

9 times out of 10 it's the price

Anything will sell for the right price, the house is beautiful but a quick scan of some of the comments and you're not going to get a sensible answer from a southern because their property prices are stupid.

Looking at houseprice.io, I think the issue is that she overpaid badly if it subsequently needed all that work doing. Every street has a limit no matter how nice a house is. Everyone needs to understand the limit if they expect to see a return on additional monies invested.

It’s a lovely house, as pp’s have said (though the dark paint colours are dated and would need a lot of ‘undoing’). The main problem is people with 600 grand to spend do not want to live near the centre of Wolverhampton. And the small 6 feet wide bedroom should be another bathroom or en-suite.

If she's had a full rewire, insulation, replaced the roof , boiler, heating system and tanked/made usable the basement etc, in the last few years this needs to be communicated in the details to justify the price increase. She'll still have a limited market due to the area, but might attract people moving who don't know Wolverhampton very well

It's cluttered. Beautiful house under the clutter but it's hard to see past the clutter.

It's a lovely, large period home. Nothing wrong with the actual house but the street and area look very average. The other houses on the street are not worth any like this price. I think she has very much exceeded the ceiling price for that street and location. A 60% uplift in 5 years seems excessive even with the work she has done.
In addition, this is a falling market and the falls are likely to get much more significant imo. People have much smaller budgets due to interest rates and other costs rising so much. I think there large period homes, in particular, have become less desirable due to the cost of running them.
If she needs to sell it, she will need to reduce the price to a level that locals can actually afford.

It's stunning, but looks like it would cost a fortune to heat and keep warm. Something a lot of people are probably considering right now.

Personally I'd be looking at it thinking she paid 380 in 2018 and hasn't significantly changed it but is selling for 600k and if there is a price crash coming would I be in negative equity.

Five bedrooms are sharing one bathroom. The sixth has its ensuite.I know there is a WC downstairs but I would expect two bathrooms for that many bedrooms.

Location looks off as in it sticks out and th front doesn't seem to do it justice.

More like 99 times out of 100. Unless we’re talking something really really unusual in terms of size, location, etc.

It's a period property, which retains a large number of period features inside, and the modern bits have been done sympathetically.

Apart from one thing, and it would put me right off. The truly dreadful outside windows and doors in that depressing grey.

I would be thinking just how much effort and how many thousands it would cost to put that right and get everything back to white again - the way it absolutely should be for a house of that period.

Good advert for your (friends) house OP 😉

I think there's often a smaller market for large period properties anyway, I had a friend with one, beautiful, big rooms, but a nightmare to heat. Stayed on the market a few years ago for probably 2 years, 20-30 people came around, eventually did sell but it's a niche market at the moment, and anything overpriced will absolutely sit now. I can't imagine people who don't need to move are moving just for the fun of it and this isn't a downsize for most.

Has she had a friend try and contact the estate agent and then do a viewing. I remember viewing a house once on behalf of a relative abroad. It was literally impossible to speak to the agent to arrange a viewing to the point if I was the buyer I would long have given up and when I was there was quite negative about the property but was very happy to bring me to view a similar property that had just come on the market. I remember feeling very sorry for the seller as some of the negatives he were pointing out he made like major problems where they were relatively minor.

Admittedly, I am not hugely familiar with the UK but I have visited that City multiple times due to family ties and unless I had huge ties to that area I would prefer to buy less some elsewhere.

The house is stunning but I think it's expensive for the area and the street doesn't look the best. I don't think many people would have the need or budget for such a large house either so that's going to limit potential buyers anyway.

There's not much you can do about any of those things though except lower the price to attract more interest.

For me 6 bedrooms with only 2 bathrooms would be a huge no. The price hike in just a few years and the the kerbside appeal would also be a concern.

It's the area. Juat off Tettenhall Road which is filled with hostels and HMO's then Whitmore reans juat around the corner

Noone in their right mind would spend 600k to live there

It’s the area. We have family who live near there. Wolverhampton has really gone downhill lately. I almost cried when I visited the town centre

To everyone saying they'd buy - have you looked at street view? I agree it is a lovely lovely house but this looks to be the most expensive house, and significantly more at that, on the street.

This is the view 7 houses down. You'd have to be really in love with the house itself, amd the price point at something that looks good value, to want to buy in this area. The price is just too high OP.

I love the grey windows and the whole house .it looks well presented ..but I don’t know the area so can’t comment on the price . But nothing wrong with the house .

I have to say as well. If i where looking to buy it. I would question why they where selling it so soon after buying it. I would be concerned about the quality of the work if it was being flipped. Often flipped houses paper over cracks!

I'm not being nosy. I once had to sell a house a year after buying it so to sudden life change. Many people asked the question as obviously it looks like a problem with the house

My first impression is bloody awful dark external woodwork. Secondly, I love the room sizes and the garden. However, lots of the decoration looks poor quality (may just be the pictures) and I'd be wondering why they didn't do things like improve the look of the kitchen floor. Even my fantasy home isn't this big either.