Just curious really.
A couple of houses in the same close as mine went on the market earlier in the year and sold within 3 or 4 days of going on the market.
One was put on Friday. Had viewings Saturday and Sunday and then sold on the Monday for over the asking price.
The other one was pretty much the same.
Our house is the same type of house and only differs from the first one as it doesn't have a garage.
We have put ours on the market Friday for less than both of the others sold for with the same estate agent as them because they told me they had people on the book after that type of property and that it would fly out???
So far we have had no interest what so ever???
Am I being impatient or what?
How long did it take to get viewings on your houses.?
Cheers
Steve
It's all down to location so other peoples experience won't match yours.
Ask the Agent how many of their 'buyers' they've sent details out to?
Personally, after 4 days I wouldn't be too worried.
It's holiday time people won't be looking at houses as they're skint.
Time of year plays a lot in selling houses as peoples finances fluctuate and different holiday periods come and go.
I'd worry if it's been 6 months or more.
It will vary greatly.
We put our house on the market (with tenant in situ) and it had a viewing and sold withing 24hrs..however the agent did have a buyer 'lined up' (or on the books etc).
DrP
Where are you?
In London, asking prices are dropping - quite dramatically in some cases and places are selling much less quickly than they were a year ago.
This observation comes from the Property Bee add-on to Firefox rather than media scare stories...
The general sense from various research being released suggests prices have got to the point where few people can afford the prices being asked given the rises over the last year, and that this change has only come about in the last couple of months...
Was that last month (july)data brooess - where the market appeared to slow down based on year on year data
This months(august) data showed almost universal growth over same time last year again.
Anyway back on topic - what i found was at my price point anything decent with a garage flew out door
Anything without a garage took a bit longer to sell
We had 22 viewings on our house, 9 offers with 4 over the asking price. Sold within a week of going on the market a little over 3 weeks ago. Bristol.
Unfortunately we were in the same boat when trying to buy somewhere & have had to pay over asking price for the new house, with 11 viewings & 4 offers going to best & final.
Given my track record with timings on buying houses, expect a sharp fall in house prices in the next 3 months.
It will be your lazy arse agent. As you put it on at the weekend I doubt they have even matched you to any buyers yet. My mrs is an estate agent an the stories she tells me confirms why the profession has such a bad rep. Get on the phone and keep badgering them.
Was that last month (july)data brooess - where the market appeared to slow down based on year on year dataThis months(august) data showed almost universal growth over same time last year again.
Depends which source you read 🙂
Nationwide I think said prices were going up
Hometrack said the opposite - as does my observation of asking prices on Rightmove (for London at least)
One website (Guardian or Telegraph, not sure which) even carried both headlines on the same day...
In London, asking prices are dropping - quite dramatically in some cases and places are selling much less quickly than they were a year ago.
@brooess, that's a generalization, London is a big place ! I can tell you stories both ways, a mate put his place on the market had a lot of viewings but no offers so after 2 months he's rented it out for 2 years. He has just had his offer accepted on the place he wants to buy outside London (he saw it 2 days ago and agreed sale now). Couple of places elsewhere went on the market around £2m (2 bed flats) and both sold within 3 weeks, both sales represented new highs.
@renton - house buying is quite seasonal, also your place went on the market around the bank holiday, I would not be surprised if a lot of buyers where busy with holiday / kids back to school prep etc. I wouldn't be too worried at this stage, give it a few weeks/till end of Sep.
Depends on time of year and the house/target audience, schools go back in Sept so families will have wanted to have moved by now so perhaps less urgency if this is the target audience?
@brooess, that's a generalization,
to be fair it's not a deep analysis! I'm looking at SE - Forest Hill, Sydenham etc which used to be affordable and then went mental last year - £350-425k for 2-bed flats which previously were more like £200-250.
Where asking prices are being dropped it's from £425 to £400 or £400 to £350 - so from utterly obscene to still unaffordable...
Bromley asking prices aren't falling...
Still, it's a good sign for those of us that want to buy that people have stopped thinking they can just write down lots of noughts and expect to get it...
I had 6 viewings on ours the day it was valued, so before it even went on the market! Did over 30 viewings on it in about a fortnight, had tons of offers and accepted a very decent one from cash buyers.
We were the first to view the one we are buying and bought it the day it went on the market. Houses round here are literally selling in a matter of days, it's mental.
Good luck.
Apparently the estate agent did some "matching" on friday?
They have said that they have had a few phone calls but thats about it.
Can I put a link up to the ad on right move so you can see if its on the money or not compared to surrounding area?
Houses round here are literally selling in a matter of days, it's mental.
This seems counter-intuitive to all the news we keep hearing about falling living standards, falling real wages, no wage rises, falling GDP per capita and interest rates due to go up - you would expect this kind of behaviour when people are feeling flush and confident about the future... I saw a stat last week which said less than half of UK households have £1500 spare in savings which sounds pretty close to the wire to me
I wonder if people are rushing to get in on fixed deals whilst they can still afford them before interest rates go up...
Last time we had people queuing up to buy and offering more than asking was 2004+
to be fair it's not a deep analysis! I'm looking at SE - Forest Hill, Sydenham etc which used to be affordable and then went mental last year - £350-425k for 2-bed flats which previously were more like £200-250.
Where asking prices are being dropped it's from £425 to £400 or £400 to £350 - so from utterly obscene to still unaffordable...
I’m looking in a similar area (se19) and 2 months ago couldn’t get a look in as it went mental, not even a viewing and no mails/calls from agents as everything was sold before it even gets listed. last week i had an offer accepted for a flat under asking that had recently been reduced so yes in that area it’s defiantly heading to slightly saner levels. i’m also getting far more emails with ‘recently reduced’ and i think that anything sensibly priced will sell but the nutty overpriced property that would have sold 3 months ago will not, neighbours to current flat in SW17 sold at £450K on first viewing weekend back in june (2 bed maisonette) but it fell through and now back on market for a bit less and will probably sell at £410-425K which is the ‘right’ price.
Next door sold within 4days. Potential buyers queuing up for viewings it was madness. Went on market Monday sold Thursday afternoon. Sellers had big smile on their face.
I wonder if people are rushing to get in on fixed deals whilst they can still afford them before interest rates go up...
I hope not or there will be a mighty problem in 2,3,5 years when their rates go up and they can't afford the house anymore.
I'm still looking at houses daily and things are still going nuts. We saw a house tonight on the same street that we are buying on, it's only been on for 2 days and there are already 2 cash offers on it and another 7 viewings lined up for tonight!
Crazy.
This is it here............
http://www.rightmove.co.uk/property-for-sale/property-47867945.html
please tell me what you think of the listing so if needs be i can go back to the EA and get changes made.
I can't believe you haven't spotted the problem? Your lawn is the wrong shade of green 😉
Nothing wrong with the listing from what I can see.
Ha cheers for that !!
please tell me what you think of the listing so if needs be i can go back to the EA and get changes made.
No woodburner or Audi or LED lighting...
Looking at the map, the river to the west looks like you could be at risk of flooding, which would concern me if there's any history of flooding...
You couldn't even get a studio flat for that price in London...
No history of flooding, it would have to be a major flood and some of the houses down the hill would be half under water for it to get anywhere near mine!!
Since I bought it in 2007 its had a full redec at least 3 times.
New patio window 2008.
New windows all round 2008
New kitchen 2010
New boiler 2011
Our house went on the market yesterday,got one viewing booked for tomorrow but that's it 🙁 not in a hurry to move so quite happy for it to stew for a bit.
It's not at risk of flooding on the environmental agency flood risk map. It's well priced compatible to others, well decorated, yes the garden is a little small but I can't figure out why your having issues.
Is your estate agent rubbish or?
Are you trying sell it with your tennents sitting
Our house went on the market on Saturday morning and sold for full asking price on Sunday.
Just got lucky with a desperate local buyer with mortgage lined up.
Gotta find somewhere to live now!
We put a flat in Edinburgh on the market at the end of last week and there have been 7 or 8 viewings so far and a couple of notes of interest.
Renton, that is a really nice house well presented in the pictures,handy for railway station and outside parking space.
Give it a few weeks schools going back, summer hols ending, people not looking to move as yet.
Trail rat. Tenant will be moving with us to new house.
So Ive just phoned the EA and they told me they have a person trying to "match" people to the property still and they also told me not to worry as its been quiet for the last two weeks due to the end of the holiday and starting school again etc.
I will give it a few weeks and see what happens.
Am executor for my deceased uncle's estate and his modest detached has been on the market since June. At first we had an avalanche of potential buyers but I had to ask myself if they'd actually read the description because they all wanted substantial changes before they'd buy.
Since then things have moved on with a foreign gentleman showing considerable interest but because he has always bought everything with CASH the bank are finding it difficult to determine his credit rating
Viewer as soon as we'd told agent we were going to sell (Sunday afternoon). Went on web etc Monday, couple more viewings and sold that night for asking price (based on highest price a similar house had sold for). This is in Oxfordshire- the worst the last recession did to houseprices here was a brief plateau.
The week schools go back possibly not prime selling time?
We have put ours on the market Friday for less than both of the others sold for with the same estate agent as them because they told me they had people on the book
Just means the 'friend' they are selling it to for a knocked down price wasn't available over the weekend....
Ended up with two viewings today and one booked for tomorrow too now...trying not to get excited until we get some kind of offer.
Still no interest??
Ok, just thought I would update this thread.
SO far the house has been on the market for a day short of two weeks and in that time we have had no viewings or interest at all.
Ive spoken at length with the estate agent who are as baffled as me as to why we have had no interest considering the amount of interest the other two houses in the cul de sac had when they were up for sale.
Thye are still contacting peope with details of the house and are awaiting feedback from them. some feedback they have had already is that its a nice house but doesnt have a garage and at that price they want a garage.
This seems abit weird to me as one of the others that sold earlier in the year didnt have a garage and other similer properties in the area also dont have garages at that price point.
I asked them about the OIEO and they said to leave it on for another week or so and then consider taking it off.
Would you mind looking at my property and also the others in that price bracket and can you give me some hints and tips on what I can do to make it more appealing than the others without spending a lot of money.
My house....
> http://www.rightmove.co.uk/property-for-sale/property-47867945.html
Area property search........
I look forward to your replies.
It's because you are living in Scotland.
This referendum thing is far reaching 😀
Ive spoken at length with the estate agent who are as baffled as me as to why we have had no interest considering the amount of interest the other two houses in the cul de sac had when they were up for sale.
there were only two people who wanted to live in your cul de sac...
there were only two people who wanted to live in your cul de sac...
🙂
Sorry the house is in England.
The other two went for over asking and had loads of interest!
Dont get it Jambo?
Dont get it Jambo?
Humour....arf arf!
I would take the OIEO now, if you want more than 150k for it then ask for it as a figure rather than the ambiguous in excess of.
I am on the property sites hourly at the moment due to a purchase that is dragging on and OIEO really put me off.
Being honest I wouldn't want a viewing on yours due to the garden being next to the parking, the garden being overlooked and not having parking on my own land or a garage to fettle in.
That being said, your house is very nice and looks to be well looked after.
If you haven't even had a viewing then it's too expensive to get people through the door.
I'd bet if you put it on at 125k you'd probably sell it very quickly. The closer you get to 150k, the longer it may take to sell. It all depends how much you want to be in a position to offer and proceed on the other house that you want to buy: drop your price, get a quick sale, and be able to proceed with the other house, or keep the price high and run the risk of missing out on the other house.
Thanks for the replies.
Just to point out though the house is in England.!!!
We currently rent it out aswell.
Surely though if the two other that sold earlier in the year went for £15200 and £152750 respectivley and also bearing in mind that house prices have risen slightly in the area I thought my asking price of £150k was quite reasonble considering that since we bought it in 2007 its had the following....
new windows
new patio window
new kitchen (twice)
full redecorate(Twice !)
new boiler in 2011.
cavity wall insulation.
All it needs really is a redec in your own colour scheme
Or am i being optomistic?
If no one has even viewed it then either your estate agent have done absolutely nothing or it's too expensive. As said it looks in great condition.
Are you tied in to a soul agency clause? If so how long for? If not is instructing another agent an option?
Did you get three agents to value the property or just use the one that sold the other two houses?
I wouldn't panic though - just because other houses sold quickly it doesn't mean yours will. People are fickle, odd things about a house turn people on or off and maybe yours has something about it people don't like.
Did your agent offer pro photos as an upgrade? The images are a bit bland and I bet nicer pics wold get you more interest.
It was valued with two agents and I went with the one that sold the other two houses on the close.
How do you think it compares to others in the same area in the same price bracket?
Any sticking out that look better value for money?
This week the foreign gentleman who's interested in my late uncle's house but couldn't get a mortgage because he has no credit history has offered us the asking price.
In cash 😯
Possibly the market has peaked recently and prices are taking a small dip....
IMO it doesn't look as attractive as some of the other houses you linked to, for example the front 'garden',lack of a driveway (and garage) and proximity to the an external parking area. The whole image of the property in the photos doesn't show any warmth e.g. the blinds and lack of greenery in the front 'garden' - its looks like a house not a home. Could you put a tub with some plants in the front to make it a little more appealing.
The possibility of interest rate rises might also be putting a few potential purchasers off. Also Offers In Excess Of will put people off as they won't know how much over the asking price to bid. Why didn't the agent put it on at £165k and then you could have taken offers under the asking price and maybe go £162k?
Checked crime map? Maybe its because of tje car park next door?
Sorry to say but no interest means far too expensive.
Prices are going down (on average)
OP it looks clean and tidy, details good. If things don't pick up I would put it on with another agent and pay the higher joint agent fee.
Just one minor nitpick the wallpaper and reddish colour might not be to everyone's taste. The kitchen/diner is more neutral. However I can't see this being a big factor in viewings though.
EDIT: I just read the offers in excess of comments, yes take that off now or just put it on for £160 and take a lower offer.
Ones that I would look at first,
http://www.rightmove.co.uk/property-for-sale/property-48082088.html
It's only 5k more (or even the same asking price given your OIEO) granted it's probably decorated badly given lack of internal pics. It does however have a garage and the front aspect looks nice and offers off road parking.
http://www.rightmove.co.uk/property-for-sale/property-44973136.html
This one is much cheaper and although terraced it's decorated immaculately, the rear garden is big and not overlooked. It also has outbuildings. The drive is huge as well for off-road parking/potential extension.
http://www.rightmove.co.uk/property-for-sale/property-31845210.html
This is the one most comparable to yours in price, however it looks much more spacious and the back garden has nothing behind it.
It's all very personal as not everyone has the same tastes/priorities when house hunting.
Cheers for the reply pik n mix.
Can I add the following points about the houses you have linked to....
link number 1 ...
Needs a new bathroom and kitchen and is generally slightly smaller all round than our house. it does have the garage and drive in front of it though.
link two...
house is in one of the roughest areas of Worcester city.
link 3....
nice house and I know the area well as I grew up around it.
If you look at the street view of it there is communal parking right outside it and it is also tucked right in the corner and has most of the side of the house next door joined on to it.
One thing mine has that all of the rest dont is a downstairs toilet and sink. would this not appeal more to families?
Then it appears all of your main competitors have a compromise. I wonder if any of them have had any viewings? Houses are a funny old game, but I don't understand why you have had not even a sniff of interest. Our local market is still going bananas.
Few things happening in the market that could explain it taking longer to sell your's than those you've seen some months or so earlier. But after a few days you can't really say.
Those factors however are the increased controls on mortgage lending and more likely prospect now of interest rates.
Other factor of course is location and which price range you're in within that market, I just bought a house in London which was a real struggle - foreign cash, offers over asking price, sealed bids etc. On the other side at the same time I was selling a house in Brighton, people struggling to get mortgages, very slow market and so on. It took us over a year to sell that place.
Edit: Just saw link you your place. I note you're asking offers over X. I personally would never do this (despite what agents tell you) as I've always been surprised how reluctant buyers are to make offers, it's almost like they're shy or scared of offending. Probably a British thing. If you want X list it at X would be my advice.
house selling is a bunch or arse !!
On a brighter note we have our first viewing on monday.. a lady looking for a couple of Buy to Let properties!
Selling and buying is a bunch of arse!
Best of luck for Monday 🙂
tbh What you've done to the house since you bought it is irrelevant; eg you know you paid £1000 for a new Boiler; all the Buyer is interested in is how old/condition of the Boiler. It adds nothing to the price. Same for everything else you've done, all it may do is make it less/more saleable.
And offers over just makes a Buyer think they may get involved in a bidding way with other Buyers for a greedy Seller - who may pull out and/or want more at the 11th hour.
This seems abit weird to me as one of the others that sold earlier in the year
That was then, this is now and things are a bit different.
mass viewings on Saturday, bidding war on Monday 6 months ago, now the agents are ringing me up to view property I couldn't even get to see before)
Offers over would put me off, put a price up and then people will offer under and if it's turned down they can always come up. Offers over only works when the market is mental, in a lot of areas it's starting to swing towards a buyers market.
I'd be put off by 'offers over'. Comes across as greedy (not saying you are OP, it's just the impression it gives). As a buyer I'll offer what I'll offer and if you don't like it I may go up... or I may walk away
Don't know if other buyers feel like that or not.
In London, sentiment has certainly changed in the last few weeks, so maybe that's spreading wider around the country.
It's possible that this week people are feeling cautious because they're scared about the impact of the Scottish thing
Kitchens and bathrooms sell houses and yours look good. If your price is right, you'll sell.
Maybe the fact it's tenanted puts people off? It shouldn't do, but buyers can be fickle.
offers in excess
It only sells if you find someone who wants to live there.
OIEO - just name your price
It's the end of summer, it's 3 bedroom so potential for a family who would probably want to move over summer if they are moving kids
Also if I was being cheeky, it's rented so you will have given tenants notice or they will be getting sorted to move (same happened when our current landlord put house on the market) so I'd wait until they were gone and you were paying mortgage with no income when you would be a bit keener to sell.
Apart from that if you want a price ask for it and wait, if you want to sell lower the price.
I agree with Philby - yours doesn't have 'kerb' appeal or is that 'curb'? Phil Spencer has a lot to answer for!
Get some potted greenery in that minging (although very tidy) front garden - you need to get people in to appreciate how well you've done the interior. Get rid of the OIEO - I wouldn't even look twice at a property with that on as it screams (IMO) out "I want to play buyers off against each other".
No agent has ever suggested I use OIEO so how does that come about? I'd drop it. Given the price others went for I'd have put it on for 155/160k, depending on what the agent suggested and expect to take an offer.
Is the agent getting more interest in other properties around that price?
it does seem your agent has less knowledge than you - maybe that's unusual.
But I'm amazed the agent doesn't have a captive viewer (or two) to at least get a few people through the door (they wouldn't play such tricks - would they!)
to me oieo always says something like - we may not be interested in selling, or join the queue punter.
Take OIEO off and possibly even drop the price by 2500 right now - it would flush out the rightmove lurkers - the latter only if you really can't wait..
They've got a mate who wants to buy it cheap and they're deliberately giving you the impression there's no interest in order to drive the price down. 😉
Cheers for all the rpelies. most helpful.
when we lived in the house ourselves the front looked quite nice as we had pots and hanging baskets to add a bit of colour.
I am going to tell the EA to take the OIEO off next week and set the price a couple grand above the minimum we can afford to sell at.
Just out of interest, when you see it at 150000 OIEO would that lead you to think I am after 155k or above??
I wanted to market at 154500 and would more than ikely accept 152k for it.
what do you think
Wait 21 days total, then bin OIEO. At that point leave it at 150k or drop it a tiny bit then depending on any prior interest. Your buyer may be watching.
Keep an open mind and evaluate any offers on merit + prior/other interest you had. You don't have to sell (now) , but certainly can't without offers.
People get very focussed on the last house sold price and 1k - but who knows what went on exactly. Things can change very quickly in the 3, 6 or 9 months the last sale took to finish.
Your agent needs to earn his fee and market the house more effectively (that includes the price) - poke them in the eye, speak to other agents as well. They speak to more vendors and buyers so should know what is going on. It's their fing job after all and why you (will) pay them so much.
It's not actually a market; just your 1 house, 1 single buyer and the deal your both prepared to agree. /lecture tone off
PS does it say it's chain free? In by Xmas might motivate some.. Housing is quite seasonal - by mid Oct pull it till spring - in spite of what agent tells you (they don't close and really need you to stay listed).
Just out of interest, when you see it at 150000 OIEO would that lead you to think I am after 155k or above??I wanted to market at 154500 and would more than ikely accept 152k for it.
I would think that if you are after an offer in excess so 150k, so would start at £150,000.01 unless I was in a bidding war and desperate for the house. Not taking the mick, but OIEO really annoy many buyers, scare first time buyers and tell the market the vendor is not up for a deal when every buyer is up for a deal.
Putting a house up at £154500 I would want if for at least below £150k, if you want £150k for it, I would put it up at £160k. If you would only accept 152k, then it may be tricky as you're already told the market you'll take £150k with your previous price, so you're rising your price despite no interest.
As others have said though my comments are all worthless, as the EA should be worrying about this and it should be largely irrelevant as you are paying for his client books not advert, and with no offers it sounds like his books are empty or full of the wrong buyers. Hassle him to get viewings, open house whatever, it's on his interest to sell. If he has no buyers, bin him and get out of it. Presume the contract with the EA is short term, in which case if they can't find the buyer before the contract is up, he's had his chance find someone else who can prove they have buyers lined up, or at least viewers.
It won't matter what you are going to do rentin as the viewer on Monday is going to buy it. Positivity and all that.
Well just to update.
The viewing went really well. lots of positives about the house from the potential buyer. the only negative comment was that it was a bit dark due to colour schemes!!
They have booked for a second viewing on saturday? is that good or bad?
Well they wouldn't come back if it was bad 😕 but it doesn't mean they will be putting an offer in.
Generally good mate.
Although I am a bit bitter and twisted about buyers and viewings currently myself lol
ha whats up with your house weeksy?? seem to remember it being really nice when I came over!
Just a load of being messed about with buyers who end up not being buyers, going on holiday after putting offers in. Pulling out on offers. Viewings and coming and saying "oh we really wanted somewhere to park our vintage car"...