Is anyone moving now?
Discussion
Slowboathome said:
lizardbrain said:
With just 1 viewing I would be a little concerned it was listed too high.
Our agent advised to list significantly below market rate, create a bit of buzz. Was a massive hassle as loads viewings from people obviously expecting to pay list.
But turned out to be great advice from a sales point of view. Top three offers were all above what I would have listed for.
Could easily backfire though! I think it relies on significant demand/supply imbalance in your street.
I think this is a good idea. House buying isn't purely rational. If people get the impression that there are lots of competing buyers it makes them want it more. Ideally you want a queue of cars all down the street with people awaiting their 15 minute slot to view!Our agent advised to list significantly below market rate, create a bit of buzz. Was a massive hassle as loads viewings from people obviously expecting to pay list.
But turned out to be great advice from a sales point of view. Top three offers were all above what I would have listed for.
Could easily backfire though! I think it relies on significant demand/supply imbalance in your street.
Fusss said:
So after a grand total of two viewings, the agent had absolutely nothing else, no enquiries, nothing.
The house we like is now "off the market" until they find something they like as they have been on the market since before Xmas, and lo and behold they've found something, so they are ready to list again.
We have reduced our asking price by 10k so we now really are super well priced against other 3 beds in our area. We are 10k cheaper than the next one, and up to 25k cheaper than others. They do all have garages which we don't but nowhere near in as good condition overall.
So far, one more enquiry, no vieiwing yet.
I would say to anyone to think carefully about reductions. I did two £10k drops after getting no viewings at all when first marketing, while totally focussed on securing a particular property. Had an offer of asking not long after doing the the second reduction, only for the place I wanted to buy being withdrawn from the market. Now getting a steady stream of viewings ( 7 between last Thursday and next Tuesday, and one offer made ) and I honestly think I'm priced £10k under. All set up to switch agents in a few weeks, thinking a fresh start is needed. But no one will up the price once you've dropped it. It's all been a bit of a disaster for us, mostly due to the incompetence of the first agents. That said, our biggest ongoing problem is the total lack of anything even remotely suitable coming to market in the areas where we are looking. Going to give it 12 weeks with the new agent, then knock it on the head if we are not properly underway with something. I'm not spending the entire summer wasting my time stressing about houses ! The house we like is now "off the market" until they find something they like as they have been on the market since before Xmas, and lo and behold they've found something, so they are ready to list again.
We have reduced our asking price by 10k so we now really are super well priced against other 3 beds in our area. We are 10k cheaper than the next one, and up to 25k cheaper than others. They do all have garages which we don't but nowhere near in as good condition overall.
So far, one more enquiry, no vieiwing yet.
Exchanged contracts today on my late father's retirement bungalow. The sale was agreed in early January so just 2 months from offer to exchange, although this was primarily because most of the work had been done previously for the sale that fell through. That was an offer of £230K in July 2022 but delays from our buyer's buyer meant the chain collapsed 2 days before exchange, so it went back on the market for £220K and we accepted £210K from a buyer with cash and no chain.
Completion due next Friday.
Mixed feelings about it, as happy it has been sold, but its the last major link to my dad's time with us.
Completion due next Friday.
Mixed feelings about it, as happy it has been sold, but its the last major link to my dad's time with us.
SonicHedgeHog said:
Gmaz, I totally understand your feelings. We’re about to sell my folks home that they’ve been in for more than 50 years. Why not take a small amount of the money and buy something like a gorgeous tree for the garden? Your link will still be there just in a different form.
Thanks for the replies guys. Yeah we have taken some bushes and small tress from his garden and put them in our own.We are 1 week now in an air b&b. Straightforward completion last Friday all done and dusted by 11am.
Removal company were excellent packing us on the Thursday and back on the Friday for about an hour sorting out the beds and few bit left for our last night.
Quite enjoying the holiday cottage we are in but feels odd as I have to go and do work sometimes!
Last update new place is still last week in March fingers crossed.
Removal company were excellent packing us on the Thursday and back on the Friday for about an hour sorting out the beds and few bit left for our last night.
Quite enjoying the holiday cottage we are in but feels odd as I have to go and do work sometimes!
Last update new place is still last week in March fingers crossed.
classicaholic said:
We have made an offer on a house that’s an estate sale but the vendors are being unrealistic about its value, probably because they were brought up there but it’s been empty 2 years now & will be hitting double council tax in April, maybe a 6k bill will focus them.
We looked at one like that - needed total refurb. Sons were looking for "in the £400's". They sat on it and completely missed to Covid bubble - there's a great local agent who I reckon could easily have got £400K for it. They modern auctioned it (unusual around here) starting at £375K and it didn't sell. Dropped to £325K and had one bidder.Edited by Sheepshanks on Monday 6th March 06:20
Greshamst said:
Anyway, still need to find a place to move into. Still not much coming up. Hopefully now we’re coming into spring the market might pick up.
Speaking a mate who lives nearby about your experiences and he wasn't surprised. They are getting fed with constantly missing out too. Finally extracted from an estate agent that some properties aren't even being advertised and sold off market. Mark83 said:
Speaking a mate who lives nearby about your experiences and he wasn't surprised. They are getting fed with constantly missing out too. Finally extracted from an estate agent that some properties aren't even being advertised and sold off market.
It is frustrating! We’ve put in our details and position with 4 estate agents, still not getting any calls to view places pre-listing. The estate agent we sold through doesn’t seem to have too much of the type of house we want, despite being the biggest agent in town. Everywhere else I’m reading about house prices falling, things being on for months with few offers, how much under asking will sellers accept.
Here we’re barely getting a foot in a viewing before it’s going for over asking to cash buyers at best and final offers within a day.
Greshamst said:
Everywhere else I’m reading about house prices falling, things being on for months with few offers, how much under asking will sellers accept.
Here we’re barely getting a foot in a viewing before it’s going for over asking to cash buyers at best and final offers within a day.
Zoopla suggests our 3/4 bed detached has lost 50k in the past few months. Anecdotally I just don't see how given yours and others' experience of the town. Here we’re barely getting a foot in a viewing before it’s going for over asking to cash buyers at best and final offers within a day.
Mark83 said:
They are getting fed with constantly missing out too. Finally extracted from an estate agent that some properties aren't even being advertised and sold off market.
I always assumed that the listings on Rightmove that went SSTC within 24hrs or so were pre-sold, especially if there was no floor plan.Don't know how much it happens - we registered with a few agents as ready to move, no chain, cash buyers and we got notifications of stuff but it always appeared on Rightmove at the same time. This was over the Covid bubble though, so maybe agents didn't have to work too hard.
Edited by Sheepshanks on Monday 6th March 15:44
Went and looked at a place this morning, it’s a 3 bed detached, although on a road of lots of 4-6 beds, some for £1.8m-£2m.
Could extend on either side, or the back and get a good return on the extension. It’s tired inside, seller has been there 30 years, but liveable albeit dated.
However it’s the upper end of our budget, at a price that we said we’d want no work to do… but so much potential I think we’re persuading ourselves to re-think this.
They had 21 viewings over the weekend, so again, lots of competition.
Could extend on either side, or the back and get a good return on the extension. It’s tired inside, seller has been there 30 years, but liveable albeit dated.
However it’s the upper end of our budget, at a price that we said we’d want no work to do… but so much potential I think we’re persuading ourselves to re-think this.
They had 21 viewings over the weekend, so again, lots of competition.
Greshamst said:
Could extend on either side, or the back and get a good return on the extension. It’s tired inside, seller has been there 30 years, but liveable albeit dated.
However it’s the upper end of our budget, at a price that we said we’d want no work to do… but so much potential I think we’re persuading ourselves to re-think this.
If it's local and helpful, I can share the contact details of who we used for our extension; builders, landscapers, structural engineer and architect. All local and did a good job for a fair price. However it’s the upper end of our budget, at a price that we said we’d want no work to do… but so much potential I think we’re persuading ourselves to re-think this.
Mark83 said:
If it's local and helpful, I can share the contact details of who we used for our extension; builders, landscapers, structural engineer and architect. All local and did a good job for a fair price.
Just realised I’d actually made a note of your conservatory thread before, and noted you were herts and your builders etc seemed good. Won’t jinx anything by running before walking but will send you a message once I’m there! Thanks.
Slowly losing all enthusiasm for this now.
So after reducing, got a little flurry of viewings arranged. That’s as far as they all got.
1 booked for Thursday last week. Cancelled it and moved to Friday. Cancelled it on Friday morning.
2 booked for today. Both cancelled couple of hours before.
Nothing else lined up now and no other enquiries to the agent, and none of the above have re-arranged new times.
Oh joy. I absolutely love erasing all evidence of anyone living here (with two small kids as well) ready for viewings, and then they all cancel.
So after reducing, got a little flurry of viewings arranged. That’s as far as they all got.
1 booked for Thursday last week. Cancelled it and moved to Friday. Cancelled it on Friday morning.
2 booked for today. Both cancelled couple of hours before.
Nothing else lined up now and no other enquiries to the agent, and none of the above have re-arranged new times.
Oh joy. I absolutely love erasing all evidence of anyone living here (with two small kids as well) ready for viewings, and then they all cancel.
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