No viewings

[Hendrix55]

Our house has been on the market for 9 weeks but we havehad only one viewing so far.  We have just changed estate agents, and I had high hopes, but 10 days in no viewings... The details look good, the price is right, we have a unique feature - open countryside views, I just don't understand why no one even wants to come and view the house - its not as if they have been inside and been put off by presentation or decor etc. Anyone been in a similar position? Getting desparate!!

[ICEMANSAV]

There is a general lack of spending, and lots of debt being riddled up this year, maybe people are seeing how things go before commiting to a purchase, just out of interest which part of the country is the house based?

[Hendrix55]

In a fairly large village just outside Durham.  The market has been pretty good up here, which is why I am suprised.  Houses have been taking about 5 months to sell but this seems extreme.

[ICEMANSAV]

The number of viewings suprises me because you have to have the obligitory tyre kickers! I would persevere and I am sure it will work out!

[jake-the-peg]

You say "the price is right" but the right price of something is by definition what somebody is willing to pay to obtain it.

Given that it's been on the market for this period of time it seems reasonable that most people who are looking for a house like yours know that it's for sale but are unwilling to consider paying what you are asking.

Perhaps you should revisit exactly why you think it's worth what your asking because it doesn't sound as if the market agrees.

It's also worth remembering that if the market is moving fast in your area what the house was worth 10 weeks ago may not be what it's worth now

[Hendrix55]

I take your point about price, jake-the-peg. We had been prepared to drop it but the new estate agent advised us against it, and there is an identical house round the corner without The View which is asking �10k more.  It's only an asking price anyway - when we looked for a house to buy we looked at houses up to �20k over budget and assumed there was room to negotiate down. Wouldn't you tell the estate agent if you were a prospective buyer and thought it was over priced?  They claim to have had no such feedback.

[Oleanda]

I can sympathise, my house has been on the market for 6 months, I've had several viewers but they all say the same thing - they are put off by a row of garages across the road. We have lovely country views at the back, and these garages can only be seen from the smallest bedroom window, but they are the only negative thing that ever gets mentioned in feedback.

[Loosehead]

The trouble is that the UK market is 30% over priced. Buyers are waiting on the side lines for a correction to take place. Now without debating whether or when prices will drop I think the fundemental issue here is that no body wants to take the plunge now when by waiting they may well get a better deal. This is history repeating itself, see the last cycle. Estate agents and lenders obviously want the party to continue that's why their figures always look on the up, however, one look at the real prices that are being achieved (monthly figures from the Land registry) coupled with the recent reduction in completions tell a different story. Is the place near you for 10k more getting viewings? I agree with Jake, you may think "the price is right" but the market thinks otherwise.

[MargeB]

Come on Loosehead, debate! When's this big price drop coming?

[Loosehead]

well wish I knew, Marge, all I'm saying is that property is over valued and that usually means some sort of correction. That's what the buyers are waiting for.

[MargeB]

I agree with you on that Loosehead, there will be a 30 percent correction before Christmas.

[auzzie]

we have been trying to sell our house for 2 years!! Sold it three times in this period but the chain broke with our buyers buyer on all occasions!! Changed estate agents twice, reduced price twice. Spent �1000 on garden and another �1-2,000 converting cellar. In two years we have had less than a dozen peoople through the door. Down to marketing i suspect, (from the office of the estate agent). Had words with them, doesn't appear to have done any good. If we change estate agents again, do we look desperate? Its a smallish village, everybody seems to know everybody elses business. Perhaps thats the problem!!! BIG shame on you people that pull out of chains for no good reason.

[Lore]

For me it's quite the opposite, We're struggling to find a house to buy. The first house we looked at had everything we would expect for the price plus the decor was immaculate... sadly someone beat us to it and got their offer in before us. Boooooooooo!  Since then there's been nothing! :(

[stevie_c2it]

30 Percent Overpriced? ...Drop before christmas? I'll take that bet!