Another why is my house not selling post

[Alldressedupnowheretogo]

I have a mid terraced house on the market in the most desirable street in St Albans. Priced at £600k which exactly fits (sold) comps and reflectsw we I spent renovating it + average valuation gain in the area since i bought it.

Must have had 30 viewings. Two offers on the first open house day at £5k below asking. Both fell through. Another FTB then offered and pulled out.

It’s all freshly decorated and staged. It’s a cottage like most in this area - disadvantages of these structures are downstairs bathroom and no hallway - but with the addition of a fully tanked basement with spare room/reception and home office. The moisture levels are the same on each floor so no damp in the basement. The doors and windows are beautifully re-done. The kitchen is De Vol.

It’s been on for three months. What do I do?

I think it’s my target market (FTBs, divorcees) not being able to get their mortgages as they all keep coming and people are offering and then pulling out.

But these are the things that maybe make it hard to sell?

Lack of parking spaces for residents (city centre issue).

Extra 300 ft of basement space not worth much?

People freak out about basements even when fully tanked?

Can’t do the loft as it’s Grade II listed.

Price??? Not sure about this one as the fallen-through offers were v close to asking.

Viewer feedback is mainly that they think basement will flood (not in flood zone) and the stairs need repainting (yes but srsly??)

Help?

@Twiglets1 I don't disagree at all and I think it's a perfectly nice place to live- I'm fussy and have lived there twice- -I was just mentioning possible reasons why places like this may not be quite the hot spot sales wise as they once were , especially for non family type houses.

@CornishCreamTeas I am definitely not an estate agent, absolutely not! I am interested in macro economics, sociology, housing and the general state of the UK though so do read quite a lot. It's easy to find information nowadays.

I agree with your last paragraph about likely reasons for fall throughs- at least some are likely to be finance related. One or even two might be impulsive but three is pushing it! Anyway, the test of whether a price is realistic and fair is always whether a property or properties in general actually sell or not.

Ask your agent to stop showing people without a mortgage in principal maybe? And certainly nobody who hasn’t sold either! I think 5k below asking is a fair price but it’s just wasting your time if they haven’t already got a mortgage arranged.

Goodness. I don’t get why ask when it’s like this? It is very obvious why people are viewing and not buying.

That’s not the reason. It’s a likely damp basement, no doors on some of the rooms, no banister, and a big hole in the floor. It would cost a lot of money to fix.

I do wish the OP would come back.
There seem to be contradictory comments in her first post.

I think it’s my target market (FTBs, divorcees) not being able to get their mortgages as they all keep coming and people are offering and then pulling out.

Okay so this is one reason why the offers have been withdrawn.
No mortgages in principal and most definitely not for a listed building.

The house isn't 'staged' IMO. The kitchen isn't De Vol (according to MN experts on this.)

You don't have to have a door to your kitchen .

There has to be a fire door in the hall at the top of the stairs to the basement. There also has to be an exit from the basement to the outside in case of fire. I can see a small window in the basement but is it large enough as an escape?

If you're reading @Alldressedupnowheretogo these are issues to look at for your own safety.

It could be but are you telling me that you think three buyers didn't notice any of these things at viewing and all managed to proceed to a survey within a 3 month period? Not very likely is it?

This is a DeVol kitchen in St Alban's:
https://www.devolkitchens.co.uk/kitchens/shaker-kitchen/trinity-blue-kitchen-aka-st-albans

That link takes me to DeVol kitchen's website & a kitchen called St Albans!

OP has said in her first post that they pulled out because they didn't have the mortgages sorted.

Everything sells at the right price no matter what issues the house has. For a two bed with no parking at £600k I'd be looking elsewhere. It's not exactly a family home without another bedroom+ or space to unload the kids outside. You have a very limited audience.

I don't understand. Are you saying it is one of those kitchens or not?

She did suggest it but I wasn't 100% sure whether this was her theory or whether she knows this for a fact. It would certainly be my supposition in this circumstance, as I've already said. I was disagreeing with the other poster.

Thats not quite what she said, she said they pulled out and then said that her target market of FTB and downsizers cant get mortgages sorted

It implies it, but doesnt say it. Anyway this is a guessing game now as she isnt coming bavck

No idea about the kitchen in the house everyone is looking at.

But I think I have misunderstood the post I have quoted.

I thought that they were linking to a house in St Albans with a kitchen by DeVol.

They have linked to a DeVol kitchen that happens to be called St Albans.

Presumably to compare to the kitchen in the house that posters are looking at?

I think the market is very slow at the moment. I live at the end of a no through road and there is a forest of For Sale signs at the end of the road. Two 4 bed houses opposite me went up for sale within a day of each other, with different agents, about 2 months ago and haven’t had any viewings. I have been here 17 years and usually they sell quickly.
We sold family home 3 miles away without going to market agent did a viewing and we were offered 5% above asking not to go to market and completed in July so not ages ago.
Our house is older, Victorian rather than 17 years old but similar size.

I feel very worried about the basement.

The 'window' looks as if it's bricked up.

This property won't pass fire regulations in a survey.

There is no fire door at the top of the stairs and there is no exit from the basement. The basement is not habitable as a room.
It's a death trap.

@Alldressedupnowheretogo I really really hope you're reading and get advice on this for yourselves.

You had two offers £5k below asking price and are complaining

They all pulled out, so yeah, I’d say likely.

The kitchen linked to is a kitchen in a Victorian villa in St Albans, presumably a line designed for that house and then named after it.

The general idea, though, is that the kitchen in the link that everyone has been looking at and commenting on, is not a deVol kitchen. You can tell by the craftsmanship and the lie of the doors and they way they're fitted. Also, there are strips between some of the cabinets to fill gaps - deVol kitchens are built to the space so don't need those.

We had one in our last house and it was a huge selling point with buyers.

Everything sells for the right price. Drop the price and it will sell.

The economy is in its knees, buyer confidence is not high, many people are still struggling with the COL crisis. With those factors in play, the hard truth is that your house is not competitively enough priced to tempt people to move into it right now. Harsh but true; almost any house will sell if the price is right. If you want a top or near top end sale price-you are unlikely to achieve it at present. The next few weeks will be even worse-the Budget is looming and the PM has said it's going to be "painful". Most people are concerned and unsure what that means for them and their families. Your house has been on the market for some time; potential buyers will know that (or find that out very easily) and the market has dropped since it was first advertised. Either take it off the market & re-advertise next spring with a realistic price .. or drop the price now. It all depends on how much you want to sell, and how quickly. Good luck!

CliCk on the first photo and then click on the rightmove link underneath.

When I looked at the house I thought it expensive, but not compared to some, so I googled asking if properties in St Albans were more expensive than elsewhere and got this answer: perhaps you should stay?
AI Overview
Learn more…Opens in new tab

Yes, property prices in St Albans are higher than elsewhere in the area, the country, and even the world:

Compared to the East of England
In August 2024, St Albans had the highest average house price in the East of England.

Compared to the UK
In August 2024, the average price for a home in Great Britain was £296,000, while in St Albans, house prices were higher.

Compared to London
St Albans has the highest house prices outside of London.

Compared to the national average
The average cost of a house in St Albans is 17 times greater than the average yearly earnings of those who live there.

Compared to other areas
St Albans is known for being one of the most affluent areas in Hertfordshire. The town of Harpenden, just north of St Albans, is known for being especially well off.

I need to change my kitchen so I’m curious. Why do you and others think the kitchen in the listing is a badly done job?

My boyfriend lives in 2 up 2 down terrace in a gorgeous cul-de-sac a 4 minute walk from the city centre. Permit parking in the road for everyone, no driveways.

In Spring, a rundown 3 bed (visible holes in the roof) on his street that had been empty for 2 years went under offer within a week of going on the market. Boyfriend and neighbours thought it was at least £50k overpriced at £785k.

The sale completed last month for £750k. Turns out the house was sold to first time buyers in their late 20s. Mortgaged to the hilt. Savings being used to pay for the vast amount of repairs needed. The couple are living in the house while they do the majority of work themselves. Whilst holding down full time jobs in the city.

It certainly wouldn't have been my choice for my first home.