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Original poster

Is the market really THAT bad?

53 replies

AlexisP90 · 27/09/2024 17:42

House has been on the market 1 week. One viewing confirmed but cancelled a few days later.

Our neighbour is also selling and has just reduced his price to massively under market rate. We cannot reduce and to be honest would not sell for what she's put her on for even if we could.

They are mortgage free, retired and downsizing so doesn't matter to them to lose a bit.

This has screwed us over though. EA has said the reason they cancelled was to view neighbours instead. Fair. Completely fair. I would too! I have just lost all hope though.

Our house is similar size but better condition. Difference is £20k so not small change. Not sure what to do. We have no house secured so have time.

Tempted to remove it from the market until they sell. I think its massively hurting us.

WWYD

OP posts:
Twiglets1 · 04/10/2024 10:33

kirinm · 04/10/2024 10:28

The loads of viewings but no offer = too expensive equation isn't always correct. We've had and loads of viewings and rubbish offers. Until last weekend where we had 3 viewings and 3 decent offers. We just had to wait for the right people to come along. Obviously not always going to be the case.

Ok so that can be true too.

I suppose no answer is correct for every situation as all so different. It also depends on how long a seller is willing to wait for the right person to come along.

But for people after a quick sale I definitely think loads of viewings & no offers the best strategy will be to reduce the price by about 5% as price is likely to be a factor.

rainingsnoring · 04/10/2024 10:43

kirinm · 04/10/2024 10:28

The loads of viewings but no offer = too expensive equation isn't always correct. We've had and loads of viewings and rubbish offers. Until last weekend where we had 3 viewings and 3 decent offers. We just had to wait for the right people to come along. Obviously not always going to be the case.

It depends, I think.

If the property has only been on the market say 4 weeks and you are having lots of viewings throughout that period, for a good offer seems perfectly sensible and realistic. If, on the other hand, you have lots of viewings over 3 or 4 months with no offers, or a big tail off in viewings after the first 4 weeks, I think the market is telling you something, very likely that the asking price is too high and a reduction is necessary if you want to sell.
If you are having no/ barely any viewings, it is extremely likely that the asking price is too high.

Congratulations on your offers @kirinm!

Original poster
AlexisP90 · 08/10/2024 20:49

2 more viewings today. Lovely feedback.
One didn't like the garden (too small) second liked it a lot apparently and has a few more houses to see but is interested...

Seems things are moving just a little slow. That's fine - we have time.

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