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Where are all the buyers then?

A question for estate agents. I have been trying to sell my mums bungalow for over a year now. Each agent I have used has promised the market is looking up, yet there are never any viewers! The bungalow has been valued by 4 agents who know the area well. The property is in good order and priced cheaper than everything else around it. We have reduced the price 3 times so it looks a bargain, but price just doesn’t get viewers through the door. There simply are no buyers, so what is the point in keep telling sellers to reduce, decorate, make perfect the home and it will sell, when it just won't! Everyone I know says the market is dead at the moment, so what is the point in even trying to sell? I would be practically giving mums house away if I reduced it anymore, where are the buyers if agents swear blind property is selling?

Asked on May 3 2012, General in Andover | Report content

Answers (1)

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  • Whilst you can look at trends in prices and sales, the market is pretty slow and people are having a difficult time getting mortgages. If you’re not getting buyers through the door, then the price is too high. Either drop the price or think about letting it. Upmystreet on the link below shows stats on sales in areas. Move down the page to see the graph and stats. Looking at their January to March figures in Andover, the figure looks significantly down on the previous quarter but there is always a delay on the information getting there from Land Registry.

    Web reference:

    Answered on May 3 2012, Report content

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