Why Doesn't anyone buy my house :-(

[james_w]

As you would probably already know if you read my thread in caveat emptor,

I put my house on the market around 4months after it was built and took it off around the 17th of march through the realestate it was listed on realestate australia I orginally listed it for $349,000 which was what houses in toogoom were selling for at the time ok I get 1 buyer through I see a bargain come on the market for around 330k one of the rpc esky houses as commonly known so I figure ok that was pretty good from then on no potentiol buyers I dropped the price to $335k then $329k and told the agent I would take $315000 which is what it cost us to build so would of taken a hit.

Now we are still stuck in the house as we want to move for personal reasons

and unlock our equity as we invested 200k of our own money in this house

so now we are down to walking away with 190k after everything is said and done still no buyers, ok so we sit on our hands for a bit we still need to move urgently my wife has a freak car accident shes ok but car spins out on a corner going 25km that we have drove for 10yrs becuase of rain and writes the car off the insurance companie pays us half of what it's worth becuase we had insured for an agreed value at the time or something needless to say the next car we insured for what we stipulated not what they say it's worth so now we are down another 20k new car ad ons general costs etc

so now if we had an offer for 315k-115k-20k-10k we walk away with 40k loss

30k if no re agent but that isn't going to happen

the house was completed start of oct 2009 it has all the extras 5 bedrooms family room slg patio fenced driveway etc it looks small from the front becuase of the way it is built fully tiled blinds fans etc

I had it on oztion aswell had 2 enquiries one who wanted to swap which I was considering untill I seen it was worth 100k less glad I did some dd there

it even had a bank value over what we were asking so in conclusion we had


1 party actually interested and have had no luck what so ever

since we listed maybe it it's not supposed to happen so what the hell is wrong with my house I seen houses 10yr old 3 bedders being sold around and over our asking price it's almost brand new can someone explain to me sorry little on the tipsy side so just having a good old whinge.

btw if you don't like my english I don't care if you want error free Grammatically correct content you can pay me, $20 usd for each forum post you have a problem with my writing this is what I charge for 500 word articles content etc lol I am tired drunk and don't care this is a forum not a school

 

[BayView]

As you would probably already know if you read my thread in caveat emptor,

I put my house on the market around 4months after it was built and took it off around the 17th of march through the realestate it was listed on realestate australia I orginally listed it for $349,000 which was what houses in toogoom were selling for at the time ok I get 1 buyer through I see a bargain come on the market for around 330k one of the rpc esky houses as commonly known so I figure ok that was pretty good from then on no potentiol buyers I dropped the price to $335k then $329k and told the agent I would take $315000 which is what it cost us to build so would of taken a hit.

Now we are still stuck in the house as we want to move for personal reasons

and unlock our equity as we invested 200k of our own money in this house

so now we are down to walking away with 190k after everything is said and done still no buyers, ok so we sit on our hands for a bit we still need to move urgently my wife has a freak car accident shes ok but car spins out on a corner going 25km that we have drove for 10yrs becuase of rain and writes the car off the insurance companie pays us half of what it's worth becuase we had insured for an agreed value at the time or something needless to say the next car we insured for what we stipulated not what they say it's worth so now we are down another 20k new car ad ons general costs etc

so now if we had an offer for 315k-115k-20k-10k we walk away with 40k loss

30k if no re agent but that isn't going to happen

the house was completed start of oct 2009 it has all the extras 5 bedrooms family room sgl patio fenced driveway etc it looks small from the front becuase of the way it is built fully tiled blinds fans etc

I had it on oztion aswell had 2 enquiries one who wanted to swap which I was considering untill I seen it was worth 100k less glad I did some dd there

it even had a bank value over what we were asking so in conclusion we had


1 party actually interested and have had no luck what so ever

since we listed maybe it it's not supposed to happen so what the hell is wrong with my house I seen houses 3 bedders being sold around and over our asking price it's almost brand new can someone explain to me sorry little on the tipsy side so just having a good old whinge.

btw if you don't like my english I don't care if you want error free Grammatically correct content you can pay me, $20 usd for each forum post you have a problem with my writing this is what I charge for 500 word articles content etc lol I am tired drunk and don't care this is a forum not a school

All I can suggest is:
a) the market has tanked in that area
b) the house is a dud (even though it's new)
c) 5 bedder may be too big for most folk?
d) it is in a bad location
d) put it back up for rent
e) all of the above

 

[james_w]

All I can suggest is:
a) the market has tanked in that A: area going up and moving not my house though....
b) the house is a dud (even though it's new)A: dud hmm looks fine to me
c) 5 bedder may be too big for most folk?A: This maybe the problem
d) it is in a bad locationA: it's in a beach side town within a few mins walk to one of the best beaches in qld and has transport available at the front door daily
d) put it back up for rent A: this is most likely what we will do
e) all of the above A: doesn't look like it

it has a school bus at the front door and a bus in to hervey bay every day

it's around 2-3mins walk to the toogoom beach I think most people just have no idea where toogoom is even people in hervey bay think it's in the sticks in reality it's a 13min drive so it has public transport daily at the front door no it's not a bus stop you have to stand out the front for them to pick you up

other houses are selling so market hasn't tanked matter fact it's supposedly gone up and moving again I think it's becuase people only see the outside it doesnt do it justice untill you open the front door and see how big it really is.

the yards even 878 sqm and only 1 neighbour with most other new homes on 600sqm blocks think I'll burn it down wait a minute they'll just build a new one hmm that wont work either dammit lol

 

[jingo]

Would a new agent help? Try taking it off the market for a while and relisting it with a fresh approach and a new agent.

Sounds like you have been discounting rapidly too. Personally when I see something being discounted so quickly, it makes me think there is a problem - even if there isn't!

Furthermore, people will be watching the discounting and think if they keep holding out there may be more discounts coming.

Regards Jason.

 

[csc]

dont know about your place but i like this little weekender.

http://www.realestate.com.au/cgi-bi...mt=&header=&cc=&c=8333924&s=qld&tm=1245445699

i think james you purchasing at the top of a market cycle isnt helping you mate........

the market in hervey bay is shot to bits right now.........

last five years it has grown at ridiculous levels.

you have two clear choices, give away and cop the loss or rent.................which is easier for you???? its your decision, we cant make the choice.

sometimes in business its better to cop a loss and move on than hang onto a dog thats a noose around your neck.

if you can find a tenant to move in id run with that, but the tenant would need to sign a long term contract for peace of mind..............market wont be improving for quite some time so get use to it..

good luck.

 

[Alabex]

All the points so far are good...

Are people coming to inspect the house?
What is the ratio of hits on the web advertising to actual enquiries?

These are good points to look at - maybe the advertising isn't doing the house justice... particularly if you have lots of hits and not lookers!

What about presentation? If you are getting people looking but they are not interested maybe the presentation of the home needs some work... fair enough it is brand new.. but stylising can go a long way to helping people see themselves living there.

Just a couple of thoughts off the top of my head.

Al

 

[pennyk]

From the photo on Oztion, my suggestion would be to put some plants in the front yard.
To be honest, it doesnt' have a lot of street appeal, and, as you say, it looks quite small from the front.
It also seems strange not having the driveway out to the road.
I also found the photo where you have several photos combined a bit frustrating. I wanted to see them close up, and found having them all together meant that i couldn't get a good view of any of them.
I think a floor plan would also be helpful, because it does look small.
good luck with the sale,
Pen

 

[Strannik]

what i don't understand is why are you counting wrecked car as a loss on the property?

 

[Tizzy]

Maybe have someone look at the street appeal from an objective point of view. Anything cheap and cheerful you can do to add appeal? Would a better advertising board help? Make sure your agent is marketing well, keep on their back. Change agents if they are not working to capacity.

Do you have pets? Make sure they are not around when viewers come around.

If it really isn't going to sell for your price (anything sells if it is cheap enough), then could you delay selling for 6 months and rent the place out?

The styling idea is a really good one, pack up anything that doesn't look like it belongs in a display home/ in other words, eradicate anything personal that looks like you actually live there. Possibly rent a few pieces. Less is definately more.

The best of luck to you.

Any chance you could give a link to the photos ?

 

[turk]

Hi James W

Why not post a link to the property here and you may get some constructive
suggestions on advertising or changes that might make the property more appealing.

Cheers

Pete

 

[Alabex]

I also found the photo where you have several photos combined a bit frustrating. I wanted to see them close up, and found having them all together meant that i couldn't get a good view of any of them.
I think a floor plan would also be helpful, because it does look small.
good luck with the sale,
Pen

I just did a quick real estate.com search on the area and lots of places have those photos with a few things together... IT IS SO ANNOYING!!! it is the internet and on Real estate.com you can put heaps (something like 30 ) photos on each listing there is no reason to splice them up.

And i also second the vote for a floorplan!

Please post a link to the property so we can check out the marketing. cheers

 

[The Y-man]

James_W,

Just looked at your oztion post and couldn't find the same house in RE.com.... does that mean you are not advertising on the site where so many buyers end up looking on?

Also - the photos (might just be a southerner thing) looks a bit ordinary - can't see why the lights were turned off, xmas decorations (shows age of photos to potential buyer) etc...

Cheers,

The Y-man

 

[Propertunity]

...I think most people just have no idea where toogoom is even people in hervey bay think it's in the sticks in reality it's a 13min drive ....

There's an old marketing saying: "perception is reality". Back 20+ years when I was a RE selling agent, we found it very difficult to sell in a new estate that was 12 minutes drive out of town - same as yours. The locals said "it's too far away". Of course now it is all established and that perception is gone.

the yards even 878 sqm and only 1 neighbour

Yes - it looks (from the pics) to be all alone in a big new estate out of town.

What was your target audience? Hervey Bay is over-represented by elderly people. I've heard it referred to as God's waiting room. And how many older people want 5 bedrooms and a huge yard to look after?

OK, can't fix any of that now. Some suggestions:
1. Before now I've never heard of oztion. Put your advert back on re.com or domain. You are really limiting your enquiries if you don't get on one or both of these 2 sites
2. The pics have date stamps - get rid of the dates. It makes the place look like it has been on the market forever and people naturally assume that there must be something wrong with it. (back to that perception is reality thing)
3. Redo the pics - pull down the X-mas decorations - same reason as 2. above
4. It has no street appeal - no front fence (yes it has a back & side fence - miles of it!).
a) Ditch those 2 black chairs near the front door
b) Buy 2 dark blue pots for the front and stick some agarves in 'em
c) Ditch the 2 flower vases
d) Put some kind of low maintenance gardens in the front
e) and a couple of trees
5. How about some "location shots" of the beach - you are trying to sell the lifestyle afterall.

All that springs to mind at first glance.

 

[marg4000]

A few suggestions:

As Propertunity said, get rid of the photos with dates on them, also the Christmas decorations.

You are reaching a tiny audience with Oztion. I guess you are not on realestate.com.au because you aren't listed with an agent. If you are reluctant to pay too much commission, why not list with GoGecko, who limit commission to $6,000 or so. At least this would give you exposure to realestate.com.au which is the largest website and attracts the most buyers. You would also have the benefit of professional advice re marketing etc.

However, if you intend to stick with Oztion and are only allowed 3 photos, my suggestions for the photos would be:

1. One exterior shot, not the front as it is not the best feature. Choose an angle from the yard that shows the house to the best advantage, possibly including the outdoor area and emphasising the size.

2. Interior. This could be a montage of 4 pictures of different rooms. Try to include photos of fixtures that remain when the house is sold. Include the kitchen, the bathroom etc.

3. Floor plan.

As you are selling a beach lifestyle, you must state how far it is to the beach. Be specific - 97 paces, 150 metres rather than "5 minutes" which can mean at 100kph!!

Why not give the street name? That way interested people can look it up on google.earth and streetview and get a good look at it.

Edit the payment details. It refers to courier delivery in 6 days, clearly left over from another ad. Same for postage instructions.

If possible, add more to the written description. You give the bare details with no enthusiasm or warmth. Look on realestate.com.au for lyrical descriptions. Does your house have security? screens? air-cons? built-in robes? You mention two bathrooms - that could mean an ensuite (hopefully), but could also mean an additional toilet and washbasin in the laundry.

Finally, review the price. There are several on realestate.com.au that sound similar to yours, and are priced similarly. Ads show interior shots and addresses. How does yours compare with these, taking all aspects into account? Be brutally honest.

Don't get hung up on the 878sqm as opposed to 600sqm. For some people that is just extra yard to mow. Or the 5 bedrooms as opposed to 4. For 90% of purchasers the difference would not influence their buying decision.

Good luck!
Marg

 

[steveadl]

James_W,

Just looked at your oztion post and couldn't find the same house in RE.com.... does that mean you are not advertising on the site where so many buyers end up looking on?

Yikes, don't like being repetitive but as Yman said - if you're not on realestate.com.au that's a huge pool of potential buyers you're missing! Get it on there!!

 

[Sheryn]

Question
So what the hell is wrong with my house?

Answer

• 5 bedrooms
• Family room
• Single garage
• It looks small from the front because of the way it is built

Refer to above answer
Can someone explain to me sorry little on the tipsy side so just having a good old whinge.


BTW
If you don't like my English...
I don't care
If you want error free Grammatically correct content you can pay me, $20 USD for each forum post you have a problem with.
My writing this is what I charge for 500 word articles content etc lol.
I am tired drunk and don't care
This is a forum not a school

James
You have answered your own question, just about anyone who is buying a 5 bedroom house and family room wants/needs a double garage.

Do not treat forum readers with disrespect when you are seeking free help/advice/information/suggestions.

Your anger came through in your post and contempt as well.

 

[L and P]

I am far from an expert but this is my observations (from a buyer perspective)

1. I had never heard of Oztion prior to this thread - I agree with trying GoGecho. Even if they are not in your immediate area at least it will get you onto realestate.com.au

2. I want to know how far from the beach it is. Exactly how many minutes drive or how many metres walk - 100m or 500m ? or more ?

3. Definetly get rid of the photos with the Christmas decorations. You say the house is 3 months old in the ad, obviously it isn't as it is now June and you have Christmas photos.

4. Agree with whoever said to put a nice pot at the front to "liven" it up.
Maybe even move the pot to the back entertaining area for the purpose of photos.

5. Show as many photo's as possible. Especially of the kitchen and bathroom. As a buyer I always think there must be something wrong if a kitchen and bathroom aren't shown.

6. I also agree with previous suggestion of giving a street name. The first thing I do when I find a house that interests me is to google map it and look at the rest of the street.

7. You really need to be descriptive and give as many details as possible.
ie - neutral window coverings, aircon, carpet, tiles etc etc

I imagine the process to write an advertisment to sell is like doing a resume. You really need to make it sound fantastic, even if it is just ordinary (not that I am suggesting your house is ordinary )

 

[james_w]

wow thanks for your all the help and suggestions didn't think my drunken whinge post at 3.00 am would get so much help lol as for realestate.com.au yes it was on there for 4

months through an agent etc we took it off the market after 3months and reducing the price $25000 and then another $10,000. also my agent was excellent and pushed the hell out of it just seemed no one wanted it.

I am in a better mood today and may have found a solution to keep it

and withdraw the majority of our invested funds as this is the one of the

reasons for selling as we have another use we need the cash for,

many thanks again to all the suggestions I am a big believer in Toogoom and didn't want to sell just circumstances had changed so thanks kristine for opening my eyes to that

and thanks,thanks thanks again this is why I have kept reading somersoft for many yrs all the helpful and wise people is astonishing, it's not just another forum more like a family

 

[letiha]

Definatley get it on realestate.com, or at leats domain.com.au if you don't want an agent involved.

 

[Jodie701]

You could also list it for free on Gumtree.com.au