Have I missed the boat?
I put my house up for sale 2 weeks ago and have had no viewings. It is a nice, clean, well decorated house, at a decent price for first time buyers. Has the housing market slowed up that much recently or should I just be more patient?
I live in England by the way.
Passive Income
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June 20th, 2010 at 1:53 pm
i’d say blame the real estate agent. that is simply ridiculous. what has been done to market the house?
June 21st, 2010 at 11:23 pm
its the start of the holiday season & school holidays..so everything slows down. BUT..its only been 2 weeks…it takes time..so be a bit patient – you’ll get there in the end!!
June 22nd, 2010 at 5:13 pm
th housing market is flooded with inventory right now (due to the high rate of foreclosures)…unless your home has something unique to offer, is extremely low price or you have some buyer enticements….your home may sit for quite awhile
good luck
June 24th, 2010 at 7:59 pm
Unfortunatly I think you missed the boat. I sold my home a year ago here in CA and it took a huge reduction in price to sell it.
June 25th, 2010 at 10:06 pm
Be patient, after another couple weeks, you may want to consider a price drop.
If you’re not listing with a realtor, you may want to try to advertise it better. perhaps on craigslist
June 29th, 2010 at 2:44 am
Oh its slowed big time. Up here in Scotland there has been houses in very sought after areas that would normally sell with in 2 weeks still now on the market some 3 months later. These relativly small interest hikes are taking more of an affect than I thought they would but it seems the banks have allowed folks yet again to mortgage themselves to the hilt with 35 year mortgages based on five times salary so when a hike comes it hurts bad.
June 29th, 2010 at 6:34 pm
Not sure where you live, but here in Minneapolis the housing market is quite tough for some. I currently have 8 listings, and only one is getting any activity. Showings, no offers. Believe me when I say if you have a good Realtor stick with them. This is going to be a bumpy ride. And we are suffering right along with everyone who really needs to sell. At least you have a job that pays you regularly, we don’t. If something we don’t sell anything, we don’t get paid. Creditors frown on late payments… LOL
July 1st, 2010 at 10:14 am
Depends on where you and the house are. There is a decent market in parts of the midsection of the country.
July 2nd, 2010 at 3:16 am
Your realtor should have atleast had his/her office tour the house. This should draw in some showings.
The market is slow, but the right house will draw attention and your agent should be marketing your house (web, newpaper, neighborhood flyers). I just bought a home and I love it. It wasn’t in the area or price range I originally planned on looking at but I am glad my realtor had me look outside my orginal ideas.
Suggestions from my personal viewing of houses – simple is best. Plain painted walls, no knicknacks, few photographs, clean countertops. Let the buyer be able to see themselves living in this house, instead of seeing it as your house.
July 3rd, 2010 at 1:54 pm
Hi,
I live on the Surrey/ London borders and sold for the full asking in 4 days, just 2 weeks ago. We have a 60′s 3 bed end of terrace, so high end of first time buyers range. However, the market has definately dried up a bit. The 2 interested parties were not the first time buyers we expected, but people that were down sizing. The offer accepted did not have a first time buyer in the chain either, it was a property developer that had bought his large house to put up flat. I do think that there is a shortage of first time buyers.
There is nothing new coming on the market for us now to buy. The agents are putting it down to the summer holidays here and saying that things will pick up in September once the schools go back. We will have to see what is happening from here. Are we going to follow what is happening in the US? For us we have stable jobs and want to move for more space and it is the right time in our life to do it. For first time buyers I can see why many could be waiting and seeing.
July 6th, 2010 at 6:32 am
It is currently a buyer’s market @ least where I live, and school is back in session and holidays are approaching. So you have about 3 factors working against you. Do you have it listed with an agent or are you selling by owner?
July 8th, 2010 at 11:55 pm
I was told by an estate agent that if you are not getting viewers at all then it’s either the area, the price and/or the ‘kerb appeal’ (the exterior) that’s the problem. (The nice interior is irrelevant if you’re not getting people inside!)
Are you sure the price is ‘decent’ – have other houses locally sold recently at this price? More than likely it’s the price that’s the problem in these situation. Have other estate agents valued the house? Some estate agents will give an unrealistically high evaluation to ‘hook you’ and then blame the slow market and get you to reduce it to sell it.
July 12th, 2010 at 6:16 am
The UK market has not slowed, in fact recent reports suggest it is increasing more at the moment (although there is normally more activity in summer). However, there big differences in different areas, with some where property prices are actually going down.
Realistically – two weeks isn’t that long! Its not like we are that short of houses. You should speak to your agents and see what they say, perhaps you havent priced it competatively?
If you are incredibly desparate to move then there will be people who will buy it say they will “guarantee” to buy a property – but I wouldn’t hold out for a good price.
I would be patient to be honest.