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A few weks ago i put my house up for sale. It is in Crookes and it has appeared in the property Guide twice now. The estate agents, Haybrooks appeared to have done a really good job, having taken some good photos, given it an excellent discription and priced it, i think realistically, considering todays market.

Despite all this i havnt had one enquiry. I knew the market was bad but didn't realise it was so bad.

just wondered if any other sellers were experiencing the same.

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If you have no enquiries then there are 2 reasons.

1) The pics are not attractive enough to get an enquiry

2) The price.

Have a look on rightmove.co.uk and search for properties like yours and see what the prices are - this is the kind of thing estate agents should do to get you a price.

 

Also if the prices seem ok on rightmove - see how long they have been for sale - you may find there are houses on there that have been for 6months plus so if you end up reducing price you will have the advantage!!

 

good luck

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A few weks ago i put my house up for sale. It is in Crookes and it has appeared in the property Guide twice now. The estate agents, Haybrooks appeared to have done a really good job, having taken some good photos, given it an excellent discription and priced it, i think realistically, considering todays market.

Despite all this i havnt had one enquiry. I knew the market was bad but didn't realise it was so bad.

just wondered if any other sellers were experiencing the same.

 

I don't understand, you didn't know the market was as bad as you thought.

 

So how do you know if an estate agent priced it realistically?

 

Today, Sarah Beeney has said those who want to sell have to lower prices.

 

If an EA tells me my home is worth 250K, I would put it for sale at 150k, then maybe I'd have a small chance of selling, though next year will be worse again.

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what complete tosh some people talk.

 

Your house will be over priced, check it out on rightmove and compare to others that are similar.

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Are any houses selling around you? We're also on the market, and as far as I know no other houses around here are getting many, if any viewings, so in a way the asking price is less relevant - if and when people start dipping their toe back into the marketplace and looking to buy, surely they'll start viewing and then making offers, whether at "silly" prices or otherwise..? Only then, IMO, will we get an idea of the correct market value of houses, and until then reducing prices too much will just give buyers a lower price point to bargain down from, which might end up in them getting a bargain, but sellers being stuffed even further.

Just my opinion though (albeit an optimistic one!)

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Are any houses selling around you? We're also on the market, and as far as I know no other houses around here are getting many, if any viewings, so in a way the asking price is less relevant - if and when people start dipping their toe back into the marketplace and looking to buy, surely they'll start viewing and then making offers, whether at "silly" prices or otherwise..? Only then, IMO, will we get an idea of the correct market value of houses, and until then reducing prices too much will just give buyers a lower price point to bargain down from, which might end up in them getting a bargain, but sellers being stuffed even further.

Just my opinion though (albeit an optimistic one!)

 

I agree with you Vicky, but sellers have had it good for many years now.

 

Everything changes. Buyers have been getting stuffed for years.

 

The only good advice I could give is simply whatever you may think you'll lose by drammatically lowering your price now will be 50-70% more next year.

 

There are predictions of 60,000 job losses every month for the coming years and banks simply have no longer got money to give away.

 

These are conservative predictions.

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I'm currently buying and selling, if you want to give me the link to your house i'd be happy to have a critical look and tell you what i think. Pm me if you like.

Its possible we've seen it on RM already i could give you the reasons we haven't made an appt to see.

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you'd be better withdrawing it from the market and sitting on your hands until the market improves. Don't lower the price, prices aren't the all important factor at the moment. People are spooked out of the market currently...housebuyers typically exhibit crowd like behaviour, they're either all buying or they're all the harbingers of doom and none are buying...you just need to be patient and wait for the market to turn...Once inflationary pressures have eased in the wider economy BOE base rates will fall and the market may turn...In the meantime it helps if supply is restricted...and pent up demand for houses grows...

 

A few weks ago i put my house up for sale. It is in Crookes and it has appeared in the property Guide twice now. The estate agents, Haybrooks appeared to have done a really good job, having taken some good photos, given it an excellent discription and priced it, i think realistically, considering todays market.

Despite all this i havnt had one enquiry. I knew the market was bad but didn't realise it was so bad.

just wondered if any other sellers were experiencing the same.

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BertieBasset has summed it up well there though I personally wouldn't withdraw if you aren't exposed to any agents fees.

 

There's so little activity right now that price isn't an issue so don't be tempted to drop it. Even if you do drop it be aware that most deals are going through at around 10% under the asking price at the moment so you could end up in a situation that you can't accept in any case. It will change as things busy up again.

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Hopskotch,

 

Bertiebasset has given you some excellent advice there and I'd take it.

There are no genuine buyers in the market right now, only dreamers living in bedsits making silly offers that nobody is taking.

 

There isn't a housing market at the moment so just waiting a while will net you the right price when things go back to normal.

 

Don't be down in the dumps. Thousands are doing the same.

 

If you sell at 10% off now you will kick yourself next year.

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I agree that reducing doesn't help an awful lot at the moment. Our house in Woodseats has been for sale for ages now and a year or so ago they were snapped up within a couple of weeks. We have reduced twice now (although only just for the second time) but still not sold. We won't go ridiculously low just to get a sale as that would mean we could no longer afford to move, but I think it's ok to reduce as long as you get the same kind of reduction off what you are buying.

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What road is your property on? Me and my girlfriend have been looking at loads of places in crookes/walkley area. Despite the apparent drop in house values, we're finding many that we consider to be overpriced. It appears that many people are trying to fight the true market.

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