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Original poster

Am I expecting too much?

36 replies

movinghouse23 · 11/08/2023 09:49

Posted in chat but not had any replies..

We put our house on the market at the end of last week and we haven't had a single viewing request. It's a lovely family home, fairly priced and in a good catchment area. When friends have sold similar properties in the last few years, theirs have been snapped up within a few days. I'm now feeling really deflated that we haven't had any interest whatsoever. We've also found a perfect property but the owners won't even consider our offer. Is this normal?

OP posts:

WhereHasTheSunGoneThisSummer · 11/08/2023 09:50

I think it’s the time of year, lots of families are either on holiday or busy enjoying their summer.

User63847484848 · 11/08/2023 09:51

It’s just a very difficult time to sell
i don’t think you can judge much in august but perhaps if you don’t have any or many viewings by first week of September you could look at price.

I think very few properties are being ‘snapped up’ at the moment!

and yes normal for sellers not to consider your offer until you’re under offer yourself. Why would they take it off the market for you, it could take ages for you to sell! (hopefully not but that’s how it goes)

User63847484848 · 11/08/2023 09:52

Really it’s sensible not to seriously look until you’re under offer as it’s horrible falling in love with a house when you haven’t sold. But I know that’s easier said than done

ViaRia01 · 11/08/2023 09:54

i think that with property you can’t really compare your experience today with someone else’s two years ago. The market may be slower now than when your friends moved so just focus on the decisions you have in front of you. You may just need to adjust your expectations of a quick sale, be patient and someone will come along. Once you get a buyer, things can progress very quickly … that’s what I have found.

when you say the he vendor won’t consider your offer… do you mean that they have considered it and have declined? Or that they will not accept until you’re in a position to progress (with an offer on your house)? I think both are normal unfortunately for you.

Don’t stress though, you’re still very early in the process.

KievLoverTwo · 11/08/2023 09:54

The number of properties in my area being advertised have halved in the last week after being steady the whole two months I have been monitoring them. Apart from Xmas, it's probably the worst time of year to list.

Your EA should have advised waiting until September.

ClematisBlue49 · 11/08/2023 10:47

Same in my area. Houses would be on Rightmove for a day and then get snapped up at or above the asking price. I put mine on the market at the beginning of July and it took 3 weeks to get an offer, which I was told is pretty good in the current market. The only other house on my street that is for sale has been on the market for almost 3 months.

I think it's very common for offers to be rejected if the buyer is not ready to proceed. The good news is that once you are in that position, things will speed up and a lower offer is more likely to be accepted. In my case I accepted an offer 5% below the asking price from someone with no chain.

Twiglets1 · 11/08/2023 12:01

Yes it’s all normal.

If you don’t get any viewings booked in at all after 2/3 weeks then maybe the EA valued it too high. But it’s too early to say.

Get an Estate Agent board up outside and make sure it’s listed on Rightmove.

CatsForLife · 11/08/2023 13:10

I’m in the same boat OP and it’s depressing. Mine is well priced, a few people have said less than they would have expected. Zero viewers after two weeks. I think we will reassess towards the middle of September when people are back in non-summer-hols routines. Solidarity in house sales lol

Postapocalypticcowgirl · 11/08/2023 14:07

As well as it being the summer holidays, I think there are some recent rumours that mortgage rates may start to come down a bit, so people may be holding off for that reason too.

There has been a definitely slow down in the market in most parts of England this year, so you can't really compare with 2-3 years ago, you will probably need to be a bit more patient.

Witchinawell · 11/08/2023 14:22

I’m putting one on the market next week and our EA has forewarned that the covid bubble has sadly burst. Lots of inventory also not budging in our town.

Original poster

movinghouse23 · 11/08/2023 18:31

Thanks for the replies everyone. I hadn't realised that it's a bad time to put it up. We were just in a rush to get it listed. Hopefully someone will come and view it soon!

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Original poster

movinghouse23 · 11/08/2023 18:32

@CatsForLife hope yours sells soon too :)

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Original poster

movinghouse23 · 05/09/2023 10:44

@CatsForLife any developments with yours? Nothing has changed for us since I last posted 😭

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GasPanic · 05/09/2023 11:06

The market has changed in the last 2-3 years so comparing now with what was happening in 2021 and even summer 2022 is not valid.

I think generally during August people are busy on holidays and enjoying the summer. House hunting doesn't really take off until September/October and we are getting into that period now.

It may be that it is overpriced for the market. The only way to find out is risk the criticism of mumsnet and post the link, where you will get told everything from people will pay an extra £50K for a red toilet seat and if you move the plant pots around to a few people that will actually scan the local sales prices and history on rightmove to figure out whether it is overpriced or not. You can of course do this yourself.

The market (IMO) is fast moving (in terms of price) at the moment and I think that makes pricing a lot more difficult even for experienced EAs.

Cheeesus · 05/09/2023 11:08

Have you checked it is appearing on RM if you search?
If so, have you asked your EA how many views it has had and what they think about that?

Having said that, you may get lots of viewings for this weekend.

CatsForLife · 05/09/2023 11:19

@movinghouse23 no change here either!!

oiltrader · 05/09/2023 11:21

it is due to the asking price. my DH thinks its better to price it lower to get 2 or more parties interested so you can get them bidding against each other x

RoxieLoxy · 05/09/2023 11:39

@movinghouse23 ours has now been on for over a week and only one viewing 😬 It is a really lovely house with great pictures on RM and well priced compared to other similar houses for sale locally.

EA said it'll pick up in September. But it is September 😬

Although we do all only need one person to buy. Just an anxious time wondering if it'll ever sell isn't it.

Pemba · 05/09/2023 11:42

OP, when you say nothing has changed do you mean you've still had no viewings at all? It's been (almost? ) a month, no viewings at all tell you it is priced too high, unfortunately. Prices are going down in most areas. There is also the element of people being away in August of course.

Talk to your agent, unfortunately it seems to be that a lot of agents have no experience of a falling market, they've only worked in boom times. They also have a tendency to overvalue a property in order to make sure they are chosen as agents by the seller. But at the moment they are wasting your time and their own.

If you make the price attractive enough you will get people interested. Especially if it's a 'sought after' area. Maybe more than one potential buyer, hopefully.

Original poster

movinghouse23 · 05/09/2023 11:49

Thanks for your replies

@Pemba we've had one viewing in a month. From chatting to people locally it seems like this has been the case for them too but I think it's time we talk to the EA about the price. Not sure whether to leave it until October to see if we get any viewings after the school have gone back and things have settled a little.

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Original poster

movinghouse23 · 05/09/2023 11:50

@RoxieLoxy hope it picks up for you soon. It's the waiting and trying to keep the house in a reasonable state with little children around which is stressing me out.

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Original poster

movinghouse23 · 05/09/2023 11:51

@oiltrader that's interesting. I agree with your husband but my other half is not keen to drop the price. He thinks we should stick it out!

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anicecuppateaa · 05/09/2023 11:54

Things are not shifting round here unless really well priced. A friend has just sold for 650k, after an initial valuation of 750k (maybe slightly ambitious but shows that the market is slow right now).

We were about to list ours but are going to stay put until next Easter and reassess.

Would it help to post a RM link here @movinghouse23 in case people have suggestions apart from just lowering the price? Happy to try to give feedback if that helps.

Original poster

movinghouse23 · 05/09/2023 11:54

@Cheeesus it does come up on the search. There's very little in the local area up at the moment. I think I expected it to sell really quickly so need to manage my expectations a bit! I can see online how many views it's had ( circa 44k) but I have no idea what that actually means. My other thought was to post it in our local Facebook group. Not sure I'm ready to share it with MN yet!

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Original poster

movinghouse23 · 05/09/2023 11:55

Thanks @GasPanic that's interesting to know!

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