Our modern four bed detached home has been on the market in Westoning, Bedfordshire since the start of March, and to put it mildly the market in the village and surrounding area is flat. We are not in a desperate position to sell, but would like to make the next move up to accommodate our family.

Firstly, if there is no real need to sell, such as redundancy, relocation etc, how long should we leave the house on the market before we take it off and then when should we try again?

Why is the property market where we live so slow?

We do not believe in multi agency, are happy with our agents (none of the local agents are shifting any of the 4 bed properties in the village) and we believe the house is competitively priced (we have reduced it once) but what should our next course of action be?

Finally, if and when we do sell, we want to stay in our village. How do you find your dream home that is n't on the market yet?

To answer your last question first: I think you should register with all the local agents so that when a suitable property comes up in your village, you are the first to know.

Check Rightmove everyday. However, the best properties are snapped up before they are even posted onto Rightmove.

Of course, the Agents may not take you seriously as you haven't yet sold. You won't be regarded as a 'hot' buyer. But as soon as you have sold, tell the agents, they will fall over themselves to help you then...!

If your purchase is not sale-dependent, make sure the agents know this, too, as it will put you in a stronger position.

The property market is slow in my village, too. (Northamptonshire). There were some falling prices last year (in the £300K range), but they seem to have picked up again recently. But there are still a lot of unsold properties in the £300K price bracket which have been around for a while.

I'm in the same position as you. Want to sell, but not desperate. After initial interest, the market has gone quiet. If you don't need to sell urgently, then don't reduce.

Maybe it would be a good idea to withdraw from the market for a while.

Regarding multi-agency, apart from the increase in fees, I'd advise against it because it could make you look desperate and will (a) make people think there is something 'wrong' with your house and (b) invite silly offers.

Good luck!

quote:

I'm in the same position as you. Want to sell, but not desperate. After initial interest, the market has gone quiet. If you don't need to sell urgently, then don't reduce.

Unfortunately the property market is, generally stagnant at the moment and although prices arent dropping a lot of properties arent selling. Somehow, this tells me that people arent prepared (or able) to pay prices that peple are expecting anymore. Ive seen so many properties in my area that just arent selling ( one opposite our rented accommodation has been up for sale for a year and a half now)and its frustrating cos we so weant to buy but we cant afford them and sellers arent prepared to lower prices. I don tthink waiting wil lmake any difference... unless of course you mean waiting for several years until the price of your property matches peoples salaries!

The simple truth is.....

There are many factors. Firstly the VI's Banks, Building Societies, CML, EA's etc will talk the market up even when its on a slide. Bit like Comical Ali "There are no Americans on Iraqi Soil" (An American tank is approaching him from behind!! DOH!!!).
The market is NOT as bouyant as we are being told. Yes! There are certain properties being snapped up but there is NO PROPERTY LADDER anymore!
In your case, a person with a 4 bedded house is fodder for a 2nd,3rd or 4th stepper. You have to consider that people get OLDER. So someone looking to buy your house may be 35-45. If they bought pre-2000 the chances are the EXTRA mortgage they will need for the next step up is probably as much, if not more, than they paid for their current house.
A lot of people are saying "Forget it" I will convert the loft. Its cheaper and will ADDD VALUE to this house.
Until prices come down and FTB's get back into the marketplace, Im sorry but your screwed Local economies cannot maintain this excessive HPI!

I kind of agree with Sim, a lot of four beds are out of reach.

When I was looking at the end of last year, 4 bed detached homes were on for £250k to £305k.

My three bed semi was worth £160k. A £90k jump up in price was too much.

I ended up buying another 3 bed semi, but an older property. For £185k, I got four reception rooms, a detached garage and a huge kitchen. The 4 bed detached houses for £250k had integral garages, two reception rooms, one of which was the dining room that would struggle to accomodate my existing table and chairs.

So my 3 bed house seems much better value, as the downstairs is very spacious. As we only use the upstairs for sleeping, it doesn't bother us that there are only 3 bedrooms. However, for £50k we could add two extra bedrooms and a bathroom upstairs. ( our neighbour just did, and it looks great).

I live in Mid Beds, the 3 bed semi's are flying off the shelf around here, and are now reaching £215k, but the 4 beds are on the market for months and months.

So, as Sim was saying, maybe people just can't afford to pay the price for a 4 bed, and are having to chase after more achievable 3 beds.

Interesting to read this thread. It is easy to get trapped in the insularity of your immediate area and believe everywhere is like it.

In my particular vicinity, the market is completely and totally manic to the point of severe overheating, and for every property type save possibly the big 600-700K plus jobbies. I keep seeing things come on at seemingly absurd prices - say "ha! they'll never get that!" only to see "sold" a week later. Having struggled to get into it after Christmas, I am now trying to find a decent 1 bed flat for a friend moving in from metropolitan Essex and with a 180K budget it's almost impossible.

I read the headlines about booming property, and guess I swallow them without realising how patchy it is. The reasons aren't hard to see - current price levels are unsustainable (report out today says average mortgage takes 42% of disposable income - barmy!) and people just won't take on the extra debt. This is what worriies me about my area - there seems to be an insatiable demand almost at any price (1 flat and 2 houses sold in my road in the last month - never saw a board, never made rightmove - spoke to the folks moving in who said they snapped them up before they even hit the market).

That said, we had absolutely no probs selling my elderly mother's terraced house in Northampton last year (at a good price too - she's not homesless: she's now in a lovely village!). Flat market or no flat market, there is a price at which anything will sell, 4 beds or 40 - just depends on how much you want to move.

quote:

Flat market or no flat market, there is a price at which anything will sell, 4 beds or 40 - just depends on how much you want to move.

I think everyone is talking a lot of sense so far on this thread! The market does differ from area to area thats true. However, as well as noticing that propreties aren't selling for what people expect in my local area, Ive noticed that there is suddenly a lot of talk on this forum along the lines of "why isn't my house selling..."

I hope you are lucky and sell for the price you want. However, i think a lot of people are realising that the steep rise in property prices has stopped and that they wont make a fortune on their houses any more.


You may find that if you want to move sooner that you have to lower your price.

If there is nothing obvious wrong with the property then it must be the price!

It's all very regional. The spring rises took some houses out of people's reach. Cottages that went from 120k to 220k in eighteen months/ two years were simply overvalued, once they get to £180,000 they're snapped up.

Identikit housing on large estates must be struggling to sell because a lot of people want to move up and the roads are full of agent's signs. Add the fact that every other woman round here is pregnant at the moment and there's a big pressure on 3 and especially 4 bedders.

I would say that 3 months on the market for a 4 bed property in a slow market is not much at all. Just sit and wait. Someone will come along eventually. It's perfectly normal for a more expensive / larger proeprty to be on the market for a wee while, so as long as you don't look too desparate by dropping your price, you should be fine.

Ary.

quote:

Originally posted by TrevGo:

In my particular vicinity, the market is completely and totally manic to the point of severe overheating, and for every property type save possibly the big 600-700K plus jobbies. I keep seeing things come on at seemingly absurd prices - say "ha! they'll never get that!" only to see "sold" a week later.

Trevgo, I completely subscribe to your views.
I seem to remember our location is not a million miles apart (NE London?).
As an example asking price for this rather nice house was unthinkable a few months ago.

I'm also rather worried about sustainability of these price rises. Indeed, there may well be a "correction" soon.

Hi Katjane. I've just sold a Duke of Bedford cottage in Steppingly and I have to say we were forced to reduce our price alarmingly. Do yoy think you are suffering the " Centerpark Effect"? That was the only thing our EA could think of for the slowness of a market that is usually bouyant when other areas are not.

Hey Cheryl, you finally sold it then? I am so pleased to hear that!

Ary.

quote:

Originally posted by Aryldi:
Hey Cheryl, you finally sold it then? I am so pleased to hear that!

Ary.

Thanks Ary! See my topic "The Saga Ends "

Thank you every one for your response. Its great to know we are not alone out there. It is really refreshing to read everyones views and input. In the meantime fingers crossed for us all!!