How quickly will this sell?

[ToadRage]

Just curious what others think. My best friend is selling her two bedroom terraced house. It is situated in a quiet cul de sac close to the town centre and local amenities. It has a fairly new kitchen and bathroom and a landscaped garden. Its is on the market at £200,000. Do you think it will sell quickly? I know little about the property market. She has been told not to look for a new property herself until hers is sold but this seems counter productive.

It depends where it is. In London it'd sell in 3 seconds. In a remote village 20 miles from the nearest shop or school, could take years.

That’s an unanswerable question
Where is it? Geography and location is key for understanding
what i do know is that the property market is very tricky at the moment everywhere
she needs to get her house on the market - she can view other properties when this is done and hopefully it will get under offer soon (which makes her position stronger)
and iF it isn’t selling then it’s always the price !

How much are other two bed terraces on the market for? How many of them are there?

Then tell her to look at the actual sold prices on the land registry, not the asking prices.

Location, Location, Location??

It will sell in 1 week 4 days 7 hours and 53 seconds.

It depends where it is.
It depends what condition it’s in.
It depends what similar houses nearby sold for.
It depends whether there is parking.
It depends on many things.

If it’s priced well it should sell, though it is wise not to start looking til she’s at least under offer. No one will accept an offer from someone who isn’t themselves under offer, and she also risks falling in love with a property she can’t proceed on.

Does the roof need work?
Is it built on mineshafts?
Is it next to a pub?
Is one bedroom actually a dining room that’s open plan with the kitchen?
Does next door have 4 XL bullies and a broken fence?
Do the carpets have that greeny-yellow square pattern from 1978 (or giant flowers) and a conservatory that’s falling apart?
All the non-sellers I’ve seen just sitting on the market expect crazy money in spite of issues like this.

I'll dust off my.crystal ball but in the meantime could you put the listing on here?

Is this in the north west? Please feel free to post some details.

2 bedrooms are selling really quickly in my area. My DMs and neighbours had multiple offers on the first veiwings.

In my part of the world that would be a very overpriced 2 bed terraced. The average 2 bed terrace round us goes for between 65k and £120k depending on location. A 30 minute drive to the next large town and £200k for a 2 bed terrace would be the going rate. A 40 minutes drive from us to a small city and that same £200k terrace would be a steal.

It very much depends on the local property market and what the going rate for property in that area is. No-one can know if it is overpriced or not unless they know the location. I'm guessing she's had multiple valuations by estate agents and has picked one that is offering in line with the others. If it languishes on the market for months and there isn't anything seriously wrong with it, it's overpriced.

Check on zoopla what similar houses are going for

in my part of south east it would be insane cheap and sold in 10 seconds as usually 280/300+

https://www.rightmove.co.uk/properties/89425725?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY this is the listing, we are in the west midlands. As I said I know little about property so I was unsure how much detail to put in my original post.

Probably take a while. Family member of mine had 3 bed in charlton, coventry. Big house, big garden… took bloody ages to sell!

It backs onto a railway track. Wouldn't bother me but I know DP would veto it entirely on that. It looks nice enough but I'm in SE England so £200,000 for an entire house seems very reasonable to me. Our 2 bed flat sold in May for £230,000.

Hopefully it’ll sell quickly, it looks great and is reasonably priced for the area.

I wouldn’t be interested in a two bed mid terraced house at that price when I could get a two bed end terraced house not far away within the city for the same price or cheaper.

Compact 2 bed terrace with a river and railway at the end of garden and a big Balfour Beatty depot at the end of the street would be a massive no for me. The noise plus potential flooding would not be worth it, the house appears to be towards the top end for the area but those would make it more likely lower end of the price range.

That quick in London sounds unlikely, and remember when looking at how far volumes have dropped the population has soared since say the peaks of the 90"s!

https://www.plumplot.co.uk/London-property-transactions.html

It sold for 100k in 2012, when interest rates were at zero, why do you think it will sell for double that when interest rates have risen so much and are predicted to rise further?

https://www.propertyinvestmentproject.co.uk/property-statistics/uk-interest-rate-history-graph/

It looks like a nice little house in good condition. I have no idea if it’s good value though as you couldn’t get a studio flat for that where I live.

I hope she sells it quickly.

It would be around £275,000 where I live in the south, but hard to sell. Cons: stairs off lounge, artex ceilings, no downstairs toilet, awkward parking. Railway line doesn't bother people here as it cuts right through town.

I'm afraid that I don't think that it will sell at that price. There are two bed terraces going for less or the same in Earlsdon and Earlsdon is much more desirable than Spon End. If you're a first time buyer in your twenties then Esrlsdon has a good high street with great pubs and restaurants. If you've got children then the schools in Earlsdon get better results than those near this house. I know parking is grim in Esrlsdon but more and more roads are going residents only and it's not so bad that people would choose Spon End over Earlsdon.

Did they reduce the price?