Topic: House Selling problem

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This topic contains 3 replies, has 4 voices, and was last updated by  stachlerron 3 years, 9 months ago.

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  • #1644

    Terry
    Participant

    Hi. Would appreciate your advice on how long it should take to sell a house at the moment. I put my house (6 years old, 2 bed semi in East Yorkshire) on the market in April and really expected to have sold during the Summer. I’ve only had 3 viewings and they were a waste of time. My Estate Agents says the market is just very slow at the moment and everyone is in the same boat, hardly anything is selling on the Estate.

    Am I being unrealistic about the time it should take to sell my house? I think the problem is that there are quite a few properties available, all quite new and very similar so any house selling tips to make mine stand out would also be appreciated.

    #1647
    Richard Watters
    Richard Watters
    Moderator

    Hi Terry,

    I bet when you hear about house prices going up and properties selling like there’s no tomorrow you cringe, as I know as you do that the market in London and the South East is very different from most of the North at this time.

    I’d hazard a guess that most of the houses around you were sold at the peak of the market in 2005 to 2007 and were probably priced high by the Builder who knew that availability of mortgage finance and favourable valuations from Surveyors would ensure they sold. New builds traditionally sell at a premium too. In most areas of the North prices dropped to, and still are, at 2005/early 2006 levels. But the people who bought these houses don’t want to or can’t afford to take a hit so they’re trying to sell at unrealistic prices. Aided and abetted by Estate Agents who tell vendors what they want to hear, to get the listing on the assumption that some of them will, sooner or later, sell.

    What can you do? Two things:

    1. Market it at a price that it will sell at. The comparison isn’t just your estate, but the wider area.
    2. Make it special. You’re competing with a lot of people who have similar properties. All will have similar kitchens, bathrooms, etc as supplied by the Builder. If yours has a fantastic garden, or higher quality fixtures, or great decor, it can stand out.

    If you can’t afford to, or don’t want to, do both of the above then the best thing to do is either take the property off the market, or leave it on and hope for the best.

    It’s likely that the increase in house prices will start to ripple out to the North at some time (my guess is from next Spring) so maybe it’s just a case of being patient.

    #2016

    jeffnevil
    Participant

    Hi,

    I understand your frustration, especially when you want to sell. One thing that you could look at doing is using a home staging service who will dress up your property and, so that you can get get some great pictures, which can really help to make your property stand out you could have a look at this site, they offer dress to sell and dress to let services http://www.roomservicebycort.com/property-marketing/dress-let.

    Another idea is hire a professional photographer to take some pictures, which can also help to make your property stand out. Another possible idea to speak to different estate agents about marketing the property. If your current one isn’t very active, then you may want to think about looking elsewhere, if anything this may bolster your current estate agent into action. It would be worth speaking to a few estate agents to get their opinions on how the market is doing in your area.

    Furthermore you could also look at listing your property on Rightmove or Zoopla if you haven’t already done so, this may garner more interest.

    Best of luck selling your property.

    #2055

    stachlerron
    Participant

    It cannot be said at the moment. When any buyer found the prices appropriated, then he will definitely approach you and it completely depends on the market fluctuations also.

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