Well, I have dropped the price of my property (the Duke of Bedford cottage,if you remember) but still have had no interest. I'm thinking of dropping it again but I am very reluctant. I know I'm desperate but I don't want to make it too obvious! Any ideas?

Whats it on for at the moment? I know when I looked at it I though it was expensive but then I live in a (relatively) cheaper area.

Bit worrying for you, I though Easter was when the viewers crawled out of their duvets. Has their been much interest in your near neighbour's property do you know?

How does your house compair with sold prices? You might not be easily able to make a comparison, I seem to recall your property was unique.

Apart from that keep your fingers crossed.

Who actually undertook the valuation Cheryl?
You or your Agent?
Do you think it was overpriced to start with?

The original valuation of £225,000 was the EA's. The house next door that is also for sale has had no interest either (hardly surprising!) Last year the one on the other side went for £235,000! There is a proposal to build a Centerparcs near to the village which is the only thing I can think would be off putting. The villagers are pretty much in favor of it but it is in the local papers on and off. The agent says she is at a loss as to what else they can do. There is joint agency,of course, but as you can imagine they are trying to put me off that. I am so down. I feel totally powerless.

What else can you buy in the area for £225k?
I'm thinking along the lines of in this area for that amount you would be looking at 4/5 bed detached, resonable sized garden on older properties or all mod cons new build. If people can get a similar comparison in your area, they are going to be looking at the bigger properties. We all want best value for our money.

(PS - I did think your house looked nice though - hope I'm not too negative)

Hmm,I see what you're getting at,Karen but people looking for a character property/country cottage in that area wouldn't be looking for a modern detached. The compareson would be with other cottages in surrounding villages. Compared to them it is reasonably priced. Still, if it won't sell it must be overpriced I suppose.

Yes, it is a nice house... but small for the price... I would advise you to have a look through the property pages and fish4homes as though you were the buyer you are hoping to attract...

What are you looking for?
What puts you off certain properties?
What makes one property stand out against another?
What sort of lifestyle are you hoping for in a 2 bed property?
How long do properties stay on the market before being snapped up?
Do you feel in a strong position, with lots of slow-moving houses to choose from; or in a weaker position with less properties selling fast?

Perhaps looking at it from someone else's perspective will help you understand whether it is your house price that is the problem or something else...

Ary.

Cheryl, your property is quite unique. I have no doubt that because of it's heritage and it's location, it is worth what you think it is.

Your problem is the market you appeal to.

FTB's will be put off by the price. You can get a 3 bed semi for less only a few miles away. FTB's cannot afford such a price.

Families will be put off by the size. If you have kids, you need space, 2 bedrooms is not for a growing family.

So your market is probably the retired, or at least older clientele. Someone who has money and is prepared to pay more for those little luxuries in life.

Your property should be marketed by an EA who specialises in country homes. The EA should be targeting the older clientele.

Therefore, if you want the best price, and who doesn't, then you must be prepared for a longer time on the market. Soon your buyer will appear!

Are you getting viewings, but no offers, or not even getting viewings?

I think having that other house (is it next door?~) on the market at so much higher makes yours look like a terrific bargain. I think sometimes you've got to resign yourself to waiting a while for a sale. It's not a run-of-the-mill house so you need to wait for a not run-of-the-mill buyer.

The house I've recently moved into was on the market for 6 months before I viewed it. I walked in and couldn't believe how lovely it was. Just because a property is on the market for a while doesn't mean there's anything wrong with it!

Stateofplay has summed it up perfectly.

Your market appeal is smaller than tiny. You may think that the gaff is something special and may well mean a lot to you but in reality it's just a 2 bed place (or was it 3) with a fancy label above the front door.

You're gonna need someone to see it who is pretty much specifically looking for a Duke of Bedford house and that's your problem if you want to sell it for top dollar. That person could phone up for a viewing at 9am today, come round and offer the full asking price, or you could very easily (and likely) be still waiting in 10 years time.

From what I can gather it's been on the market long enough now for you to realise that's the truth of the matter, so if I were you, as much as it will pain you, you're gonna have to start slashing that price in bunches of £10k if you really want a chance of selling it this side of Christmas.

R

Hi Cheryl,

As someone who spent 18 months looking for a character cottage in Beds with a budget of £225k, I hope I can offer a vaild opinion. Your house looks lovely from the link you posted earlier, but I wouldn't have even considered viewing it. I was looking to buy my second house (as in second rung of the ladder, not additional home!) & as such wanted something significantly bigger than my first house to justify the investment, not to mention the hassle, of moving. Most people with budgets of £225 ish will be the same - on their second or third property - Beds wages are not high enough for FTBs to afford £225k!!! For a 2nd, 3rd rung on the ladder, yours just isn't big enough - plus it has the front door going straight into the lounge & other features that don't appeal to everyone.

I managed to find a cottage with 3 double beds in one of the north-Beds riverside villages for the same price as yours... yes, it means a longer journey to work for me, but it's worth it considering I've got a house I can groew into, with enough room to raise a family etc.

The only people who would be able to spend £225k on a house that size would be downsizers, I guess, which is a limited market to start with.

I know what you're saying about other houses in the area & their respective prices... & villages round the Steppingley area do command a premium because they're lovely... but it doesn't change the fact that people with over £200 to spend in Beds usually want something bigger.

I don't think you said what you'd actually reduced to... I'd guess that if you bring it in under £200 you'll open it up to a load more potential buyers. It is a lovely house & whoever buys it will be very lucky.

With houses that have a small potential market you either hang in there and wait or lower the price. Neither are pain-free options and droping the price may raise suspicions. I've been there with a similar cottage and as the others have said, someone pops up in the end.

If you want to buy again it may be worth taking a hit and gouging a little on your next purchase, especially if there's a chain to rattle.