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Mrs X

What Would You Expect To Pay?

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Hello everyone, Looking for a little advice if possible.

We put our house on the market last November with a local agent, they got us one viewing in 4 months so we left them to go to a larger agent.

Been with the new agent since April and so far got four viewings, so all in all five viewings in 10 months, not good I know. No offers, and no feedback at all.

The house was valued at 130k by four different agents, so as we need a quick sale we put it on for 120k, since reduced the price to 115k.

The other houses on our street that are up for sale are priced between 120k-167k, so ours is the cheapest. One sold a few weeks ago, it was up for 145k.

We have no idea what is putting people off as like I said we have had no feedback, if we ring the estate agent they either say they cannot get hold of the viewers to get feedback or the viewer put the phone down on them etc.

It is a three bed detached house, with off road parking, large back garden, coal fire, stone kitchen floor and solid oak flooring through out (hall, stairs, landing, living room and dining room), separate shower in the bathroom as well as a bath, downstairs WC, etc.

It is just outside Dromara In Co Down, rural area, in a cul de sac. It has been cleaned, its tidy, got rid of all clutter and the rooms are cream.

If we ask the estate agent for advice they just say to reduce the price more, but as we are already the cheapest will this do any good? People always say it will sell if the price is right, but what is this magic price?

We are moving away over to England at the end of october, so told our agent to price it to sell, he came back with 115k to sell quickly, that was in april.

What would you expect to pay for our house in your area? if I could get some ideas maybe I could price it to actually sell it.

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I think I know this house - have you advertised on gumtree several times? Street starts with H?

Can I be brutally honest if this is your house. ?

Floors look nice. rooms are a bit small. no garage. small back garden - front garden needs a tidy in the EA pic.

What is your market? It wouldn't appeal much to a young family. So professionals? Yes at the right price which I would say is about 100K in this harsh market. The house at 167K has not a hope in hell of selling. The one that had an asking price of 145k is extremely unlikely to have sold for near this price.

The market is tight - you have three choices. Drop to 100k to attract viewers and hope for a bid-up: sell at auction : rent it out for about 350 per month.

sorry to be so negative but you did ask. Welcome to the forum by the way -- don't be hurt by some of the suggestions you might get.

Hi thanks for the reply, yes it is the house :) Please dont be afraid to offend me, I would rather know what is putting people off rather than sit here and not sell. The pictures on gumtree are old now, we have painted a few rooms since then, done the garden etc, and the EA is coming out next week to take new pictures etc.

The thing with selling at auction is we dont have the money to give them to advertise it, and I heard if it doesnt sell then you dont get that money back? I wouldnt know if thats true or not, that is partly why we need to sell, boyfriend was offered a better paying job in England, the job he is in now is very low wages and we can no longer afford to stay here so spare money is none existent at the moment.

We asked if we should rent it out and the EA said there was no market for renting in our area, again not sure if that is true but he is the second EA to tell us that.

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Had a look on gumtree, I know the area fairly well and would be surprised if you get more than £80k for a quick sale. As doccy said you may be better renting it for 12 months if you need to move quickly and at least you have option of returning if the move doesn't work out.

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I think I know this house - have you advertised on gumtree several times? Street starts with H?

Can I be brutally honest if this is your house. ?

Floors look nice. rooms are a bit small. no garage. small back garden - front garden needs a tidy in the EA pic.

What is your market? It wouldn't appeal much to a young family. So professionals? Yes at the right price which I would say is about 100K in this harsh market. The house at 167K has not a hope in hell of selling. The one that had an asking price of 145k is extremely unlikely to have sold for near this price.

The market is tight - you have three choices. Drop to 100k to attract viewers and hope for a bid-up: sell at auction : rent it out for about 350 per month.

sorry to be so negative but you did ask. Welcome to the forum by the way -- don't be hurt by some of the suggestions you might get.

Looks like Doccyboy has gave you better advice than 2 EA's have done!!!

I have nothing to add to that ... I can tell you as a 'potential buyer' in the housing market that the price is the first thing to put ppl off viewing. If its priced correctly then it will sell.

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Had a look on gumtree, I know the area fairly well and would be surprised if you get more than £80k for a quick sale. As doccy said you may be better renting it for 12 months if you need to move quickly and at least you have option of returning if the move doesn't work out.

I'm surprised the EA's find it unrentable. There isn't that much unrentable or unsellable as long as it is basically sound of build, presentation, location and history and priced right - I would have thought. Surely someone would be glad of such a home at a reasonable rent, floored at HB levels if it must.

I hope you can get it sold and get on with your lives. Timing is one of those things, sometimes it works for you - sometimes it doesn't and sometimes it's out of your hands.

The opportunity you are reaching for, and its potentially positive outcomes may soften the hit you may have to take on the price, in respect of your or your EA's expectations and indeed what you paid for the place in the first place.

In terms of selling though all I can say is that, for me, a realistic price is a must before anything else. But this is not the case with everybody. If it's on property news or property pal ie a wider audience not just gumtree, it may come under the notice of an investor.

The one opinion I do have, however is that whatever it does sell for (and I hope it does, as I said), this time next year it will sell for less. And a year's rent at £350 per month, should you take that route, won't cover the difference, or the hassle.

But remember, that's just an opinion. As they say, opinions are like a***holes - everybody has one.

Realistic NIEA (a poster here) may have some thoughts. He is having some success in pricing correctly, selling and renting - hope he contributes.

Good luck again.

Sorry, just to add it may not be so much as putting people off (pricing excepted), rather that there just aren't that many buyers out there, nor houses sold, as there used to be in the recent past, and that's for all sorts of reasons. There's only so much you could do in terms of presentation and, in fairness, probably only so much the EAs can do (though that doesn't seem to be a lot, from your experience). I think the average time for a house to sell here now is 9 months, if it sells at all, and sales are down by about 2 thirds from what they were.

Edited by Shotoflight

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No market for renting? No offence, but your EA sounds like a complete clot if the thinks that.

I don't know what the rental market is like in Dromara specifically, but if nearby areas are anything to go by, you should be able to get at least £400 a month for a nice house in a decent location, especially considering there are hell holes in awful locations that are managing to get £350 a month. I would suggest that should you rent the property out, do it yourself, making sure it's listed on the likes of Gumtree, PropertyPal and any other lettings listing services. If you're looking on tips on starting out as a landlord, then feel free to ask.

As for selling the property, I think something must be wrong if you've only got 4 viewings. You've said that the property is on Gumtree, but have you listed it on PropertyNews and PropertyPal? If you're on PropertyPal, you could consider paying a little extra for a Premium Listing (it actually does work insofar as you'll get more online viewings of your property) for a week or two. Professional photos are also another option. Any photographer worth his salt will be able to bring out the best in your property if it's decluttered, cleaned and gleaming in the sunshine. If you want to PM me a link to your advert, I'll look at the pictures and can give you some more feedback too. It might also help to put something in the advert offering the contents free with the house (if they're any good) or that you're open to offers. Remember, when selling a property, you really only need to be cheaper than the competition and the advert itself should be at least as impressive.

Don't go overboard with reducing the price either. At £115,000, I would consider taking £2,500 off the price, and then putting up a Premium Advert on Property Pal for a week with quality photos and a very detailed listing. Maybe at £110k, you'll start getting some bodies through the door, and hopefully you can get the place eventually sold for £100k+. Most important thing to remember is that the market is very, very slow. Even in this market, at £115k, I don't think your price is a million miles away from what it could sell for.

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I think after talking last night we are just going to bite the bullet and drop the price to 98k and see if anything happens, Its not about the money for us, we feel like we cannot start our lives until we are free of the mortgage. We are not buying another house, yet anyway, we are going to be staying with friends until we get on our feet then rent for a while. If we can clear the mortgage that would be fine.

As for renting, even if there is a market in this area we still couldnt do it right now as our mortgage payments are 560 per month and we wouldnt get that from renting it out, and cannot afford to top up the money each month, just want to make a clean break if possible.

Someone asked for a link, Im new here and not even sure if I can post links or not, but if you want one please PM and I will send you one.

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I see from your MSE thread that the EA phoned this very morning and said an offer of 108K. Thats very fortunate for you. Well done. A buyer less than 48 hrs after posting on here.

Yes the EA phoned this morning, had viewers round on saturday they liked it and have made an offer today. The house has been on the market since november 2010, I posted on here for advice which I got and which I am thankful for. And yes I do also use other forums, not just for housing related stuff, didnt know I wasnt supposed to do so?? I also posted a thread on MSE and also got advice there, since we had the offer today I have removed the ads from gumtree.

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Yes the EA phoned this morning, had viewers round on saturday they liked it and have made an offer today. The house has been on the market since november 2010, I posted on here for advice which I got and which I am thankful for. And yes I do also use other forums, not just for housing related stuff, didnt know I wasnt supposed to do so?? I also posted a thread on MSE and also got advice there, since we had the offer today I have removed the ads from gumtree.

108k after you said you would reduce to 98k. Better hope they dont see this thread :ph34r:

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Well done. Refreshing to come across such a realistic and motivated seller. Not my area so i could not comment on what was a fair price but i doubt anyone would have been put off by the pictures of the inside as it looked very nicely decorated.

Think you recieved some very good advice from other posters on here. Wish you and your other half the best of luck in your fresh start in England.

A very pleasing thread to read with a happy ending.

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  • 337 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
      • up 2.5%
      • up 5%



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