Another why is my house not selling post

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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?

That's what I thought but it's not.

Thank you to the person who pointed out to me I had the wrong house!

Getting a mortgage in principle is different to the bank valuing the house. To get a MiP, you just give the bank details of your incomings and outgoings, and they give you a value that they’re prepared to lend. If they tell you that you can buy up to 650k, then offer 600k on a house they deem only to be worth, say, 550k, that’s a completely different issue.

This is the exact problem I'm having even with reducing the price. There are people who shouldn't be viewing my house but are and they're all delusional about what they can afford.

The initial Decision in Principle certificate people get before they view properties is actually misleading. It gives people a false sense of security as to what they can actually afford which is different to when they see a mortgage advisor. This is when many get turned down for a mortgage after they've made an offer.

Assuming it’s Lower Dagnall Road:

Grade II listed and conservation area.

No parking.

Not sure I’d call it a ‘kitchen / breakfast room’ - there’s just enough counter space for a single stool?

Dining area looks very cramped in the photos.

No pictures of bedroom 2 or the home office.

Downstairs bathroom straight off the kitchen - there are other cottages in the same price bracket with an upstairs bathroom.

Plus that’s a hell of an increase in value since it was last sold in 2018 - which might be correct for the area but might be off putting.

And it’s showing as a guide price, which many people hate.

That one has an upstairs bathroom

Oh I thought it was the double fronted one as well.

op it’s over priced. And then some. I’m sorry.

If it is the one with the decorative brickwork, then I'd be suspicious about why there are no photos for the bed2 or the office. I'd assume there's something to hide that would put me off.

I don't like plastic grass, and it's expensive to get rid of. No parking would be an issue for me.

But personally what would make me cross it off the list straight away is that you have to go through the kitchen to get to the bathroom.

So its the Lower Dagnall Street one which in its brochure, which you have to click into says its listed but no where on the actual right move listing (unless Im going blind, which is possible) I cant see it

Are people turning up to then find its listed and dont want that?

I'm suspicious when there aren't photos of kitchens and bathrooms, but rooms which are essentially bonus rooms, like a cellar that's been tanked don't have to be in the listing.

Op. It’s also very close to a pub. Which many folks won’t like as they’d be concerned about knocking out time and deliveries being noisy or blocking the road.

unfortunatley as you said 600 and not 595 a lot of people, myself included thought it was the bigger double fronted one.

it is nicely presented but significantly over priced. That’s the issue.

Assuming again it’s Lower Dagnall.. being more constructive, here’s what I would do:

Remove a lot of personal touches to help it feel less claustrophobic - the sign about being different, the cane mirrors, some of the plants, the chalkboard on the fridge, the clashing cushions, the pictures (especially in the basement)

Remove the rocking chair

That low chair thing

Remove that white table and black stuff staged on it

Remove that black screen thing

Change that table cloth, it looks too Camden Market (in fact, it all has a bit of this vibe to it - I don’t mind it, but it’s not doing the space any favours)

The flooring in the basement is awful. Can you do anything about that? It’s not a space that I feel I’d want to be in which is a wasted opportunity I think

If it's the Lower Dagnall street one it just looks too small for the price. The photos make everything seems squashed if it isn't squashed in reality. Grade two listed wouldn't bother me but I would never buy anywhere without parking. The fake grass wouldn't endear me either, I would be wondering how much it would cost to take it up and reseed. But primarily the parking and the price.

I love it inside. It’s a quirky lay out. But the parking would be a big no-no for me. I’ve lived in a terrace with no off road parking, and it was a nightmare. Can’t comment on the price as I live oop North, and this money would by you a mansion with gym and indoor pool in these parts!

If it’s the one everyone’s suggesting it is. It seems tiny for that amount of money, it’s very cluttered, on road parking looks like a nightmare and the killer for me would be what looks like fake grass in the tiny garden.

I only know the area vaguely but there a lot of other houses of comparable prices which a lot more space and better layout.

That’s what I thought! One bedroom set up as a single, and the other looks as though it would struggle to accommodate a decent sized bed. The kitchen is very attractive, as is the little garden, but the other faults and the no parking are very offputting. I am sure there are larger houses nearby, which offer better value, I think the “best street in town “ has outpriced itself and isn’t offering anything very special as far as this property is concerned.

I think it looks very nice, its in keeping with that type of chic chichi cottagy look. Dont like the fake grass that would put me off but perhaps not enough to discount it

The den is very nice

What would really really piss me off is turning up to find out its listed. I wouldnt necessarily click into the brochure, I wouldnt expect to find information in that which isnt in the Rightmove listing.

The single bed is in the the den

I think 3 months isn't long especially since it's such an expensive house for ftb. I think the amount of viewings and offers suggest it's not too badly priced although I would probably offer 5%-10% under asking for a house that had been on market for 3 months.

Are you in a rush to sell? I would be tempted to take it off the market and relist it next spring.

I was on the market for 18 months and the winter months were always rubbish, felt like tyre kicking viewing and were super intrusive when we were trying to enjoy the house for xmas etc. Same as you though dozens of viewings and 2 offers that fell through.

After a year we took it off the market in October and relisted with another agent the following Spring and got it sold within a fortnight. I was also chasing similar demographic to you, first/second time buyers or downsizing divorcees (that's who I sold to in the end) my house was £400k in a desirable Northern town though so maybe a bit easier.

Maybe a break? But understand if that's not possible. Xx

Edit: also if it's the listing a PP poster has put up there's no pics of bedroom 2 and the office. You really need to add those. And if they're not presentable enough you need to fix that for the viewings anyway.

Not sure Lower Dagnall is the most desirable street in the city.... I guess you just have to hold on. Although the price would seem wild if you don't live in st Albans, it is in the right ballpark for that sort of house in that part of the city.

I know that St Albans is expensive but many other properties look like a better deal. I’m not sure what the market is; can only think of people with pots of money looking for somewhere quaint. Retirees would definitely be more swayed by an upstairs bathroom!!

I don’t know how many people would swap proper hallway, upstairs bathroom, space and parking for old world charm. Worth a look, then the need to weigh up the pros and cons.

I think you may need to lower the price to get a proceedable offer.

Where we live house selling prices seem to be form by about 25% on their peak 2-3 years ago. Very little is selling. House that were under offer are back on the market with significant discounts. My conclusion is that it isn’t your house. It’s the state of the economy. People don’t feel confident enough to commit.

listed.static1.squarespace.com/static/6036804218cd555067eb25a4/t/668c05bb0fbd7d2ad0a01bec/1720452541315/Brochure+-+42+Lower+Dagnall+Street+St+Albans.pdf

The market in St Albans is absolutely saturated with 2 bed properties. Right down to below 500k. So many more cheaper options that people could make nicer. And an abundance of detached 2 bed bungalows for anyone wanting a future proof property that they could extend. This really limits your market to young ish commuters. They won't be looking for a forever home. They want max space for their budget, good value and easily resellable properties for when they move on. I would say yours is priced at the top of that market so not a bargain, is listed which impacts resale and what you can do to it and is a bit smaller than some of the others. The only thing you can change here is the price to make it a bit more appealing.

Unfortunately one contributor is something you cannot do anything about- the poor train service.

So it is! So why isn’t bedroom 2 pictured I wonder, it is obviously very small from the measurements.

Hadn’t noticed the plastic grass. Shame. Changed my mind about the garden now.