I am so sick of hundreds of viewings and NOT ONE offer on our house!!

[allgonebellyup]

Everyone who comes round says it is gorgeous, great condition etc.
i tidy and clean it til its immaculate when people come round, and a few people have come back for 2nd viewings.
It is already around 15k under what i think the selling price should be....why hasnt it sold????????????????

I am so sick of time wasters whose houses are even on the market yet coming round, i have told the agents to only send serious buyers round. its been on market since Nov.

Hmmmph. I would buy our house, its lovely,victorian so huge rooms and new wooden floors.

i know the exact house i want to buy though, and by dropping my price even more there is NO way i will be able to afford it!

you will probably find that the price they will accept has fallen by a similar percentage on the one you want. It works both ways!

Noddy's right. Check the actual sold prices for houses in your area. The Jan figures from the Land Registry are just out. Ourproperty.co.uk (think that's the right URL) does an easy search facility by postcode, as does Rightmove.

The price is clearly not way off expectations because you're getting viewings. Unfortunately you may have a 'Number 3' house. Every buyer has a list of favourites and yours may not be high enough up. This isn't because it isn't a great house, but because there are one or two other properties in your market bracket with a slighly higher spec and/or lower price. You're buggered until they shift, which may take a while in this market.

Remember your house value may be dragged down by neighbouring vendors who discount to sell quickly. There's one road in Brighton with a traffic jam of properties trying to sell. The most expensive ones don't have a hope until the cheaper ones go.

www.propertysnake.co.uk is the price drop website. not much use, as you can't link it to a specific property or area any more.

Don't discount the buyers that you don't think are serious either. DH and I are (or rather will be) first time buyers and we are looking around a couple of properties a month. We're in no hurry to move as we don't have to, we're fine renting at the moment, but if we saw a house that we loved, we would happily put in an offer.

Yes put a link and then we can give our views

We sold our house in February. We have a very large deposit and so we don't have issues with getting our mortgage BUT after a few weeks of looking for something we have decided that its just too risky buying anything at the moment. We could be burdening ourselves with a larger mortgage than necessary if the prices keep dropping. DH works with a lot of professional property experts and bankers and all are saying this is only the beginning of the price drops. We are still viewing some properties just in case one of them is the house of our dreams but we would only offer a maximum of 15 per cent below asking price to cushion ourselves against the further falls.
Your viewers may well be in the same poistion. With every single day that passes you are less liekly to get your desired price I'm afraid.

you should give us a link. you should want honest opinions.

thanks for all the advice!

I think only the desperate or the people who've got a serious bargain or the people who have so much money it doesn't really matter are buying atm.

Everyone else is like you: hoping not to drop their price too much and not wanting to spend "too much" on their next house. Everyone in a chain is stalling the market and waiting to see. So, stalemate.

This is how price reductions start to take hold and carry on in a chain reaction until eventually prices have reduced so much we all go "look at the house price crash!".

but the house i want got an asking price offer on the day it went on sale!

but for some reason the buyers had to pull out so its for sale again.

That means it didn't sell at its asking place.

Allgone, you're spending imaginary money! You can't buy anything until you've sold your house. If you are chain free, you are in a position to negotiate hard. Your risking losing real buyers by setting your sights on a property you can't buy. Yet.

dont understand, why does that mean it didnt sell at the asking price?

They pulled out. There wasn't a sale. They probably offered asking to nab it and then tried to negotiate down.

allgone - the market is shite atm.

Mortgages are hard to come by. Buyers are waiting for the market to drop. First time buyers still can't afford £250k. It's a bummer.

because the sale didn't go through, allgone! the 'buyer' could have been a flake. or the mortgage company could have down-valued it. or their chain might have fallen through. you aren't a buyer until you've done the deal, which is why you can negotiate hard if you're chain free...the vendor knows there's a far higher chance of the deal completing.

How do you know they had a full price offer?Did the agent tell you?More likely downvalued by mortgage co or they decided to wait for reductions rather than pay too much

we agreed a price of 10k under asking price for a property and it was still down-valued by the surveyor. the surveyors are covering their arses with the lenders who contract them to do the valuations.

yes the agent told me..he was prob just trying to get me to cough up more money than its worth too..

Have you looked at sites like nethouseprices.com to see what actually have sold, for how much and crucially when?

Everything is slow atm, my aunt pulled her lovely house off the market after 9m of little interest; friends in SE moved last week after a year of in a stalled chain, losing 2 houses and living with parents for 3 months to secure house no3. 1st time buyer pg friend wanted to be in their own house by the time the baby arrived, has decided to stay renting, so concerned are they about a housing slump.

It means it didn't sell at its asking price. An offer was made but no sale happened. That's all. You can't use what happened with that property as a guide to how much to price yours at.

We are in similar position to Sparklymummy. We are FTBs and have saved up enough to buy somewhere but after discussing it over the weekend (after viewing yet more lovely but overpriced houses) there's no way we're moving in the current climate. Even if the gloom just turns out to be all talk, we just don't want to risk it.

That's not to say there are no buyers at all I'd say you probably WILL get an offer, but just not as quickly as you might like. I reckon the people who are moving at the moment are the ones who actually need to move, or have got more money than sense and there are still a few of those around imo.

What feedback have you had from the folks viewing your house? Does your estate agent give you feedback on what these viewres have said? If not, he should be. Are the photos they're using gorgeous? Does it look great from the outside as most folks decide as they walk up to the door.