Why is my House not Selling?

And what can I do to help it sell.

I have received a few calls lately from clients asking why their house isnt selling. We recently ran a seminar and one of the sections was how to improve your chances of selling you house. So heres a look at the market and perhaps will give some explanation as well as some tips on how to improve your chances of selling your house.

Market appraisal.

Is the market dead? Most certainly not!

Based on recent activity the market is very much alive and kicking. In August we have sold property and have something like 150 enquiries to deal with, most of them genuine buyers and most of whom looking to buy in the next 3 months. So the market is not dead by any means.

The UK market is very slow and UK buyers are thin on the ground, but as these represent only 5% of the actual market it shouldnt affect the market too much. Those that are looking are bargain hunting. They are looking for something generally below 150,000. Why this figure I can only assume but I believe that many of the buyers from the UK are people who made their mind up to move to Spain a while ago.

However with the dive in UK market they couldnt sell their houses so they waited. Then they decided they didnt want to wait too much longer so they re-mortgaged their house (I believe June this year saw the highest number of mortgages for a number of years). This means that instead of the 300 - 400000 they were going to have they have between 60 - 100,000 and are now looking at a second home rather than a primary residence.

For the rest of Northern Europeans it is the Dutch and Belgians predominantly with a few of the Nordic countries who are coming down. Those from the Benelux countries are looking for a lifestyle change and tend to be younger families or those not quite ready for retirement who want to earn a small living. They tend to look for large villas with a good sized plot, but prefer to stick close to the beach. Others are looking for larger premises to run as a hotel.

The rest of the market is Spanish. The Spanish are still buying and at least 60% of our enquiries and 80% of our sales are to Spanish people. But they are generally looking at a first time home or a holiday home by the beach. They also dont have much more than 250,000 whatever they are buying.

So if we look at a breakdown of what people are looking for it is roughly the following

Townhouses and apartments within 15 minutes of the beach upto 150,000
Townhouses and apartments inland around 100-120,000
Beach apartments 1st-3rd line upto 200,000
Villas by the beach between 200 400,000
Villas inland with large plots to about 300,000
There is a good market for run down property to be reformed to about 100,000 but most looking for these type of property want a real bargain ie do some work on it and double their money. Hotels and casa rurals from 200,000 800,000 both by the beach and Inland minimum of 6 beds

And thats pretty much what we are seeing.

So why isnt your property selling?

The most obvious reason is price. No matter what the market is there are always buyers and any good value property will sell. It is estimated that the market in this area (La Safor Region and Marina Alta) is 30% over priced and based on what we see I would agree in most cases. How do you know if your property is priced right? Well a simple rule of thumb is as follows.

If you have a villa/chalet etc with a plot of land use the following for calculating the value of your land.
1.if the land is urbano, inland it is worth between 25 and 80 euros per sq M. By the beach it is worth upto 250/M depending on location (this top price is the price in prime areas like Moraira with sea views) in Oliva it would be about 100 130 per m, so multiply the number of metres by this figure and you have a value of the land.
2.If it is suelo rustico then it is worth 7-10 euros per M regardless of the house.
3.For calculating the value of the house if it is new then it is worth about 1100 euros per M, if old 900, if needing reforms then 500-750 depending on what needs to be done.
4.If you have an apartment or townhouse then you multiply the sqM by 1300 if it is new or 1100 if it is old, 500 if it needs a lot of reforms or somewhere in between, Obviously there is a premium for being closer to the beach (like it or not people still want to be near the beach and would prefer to buy there) so add about 20% - 30% for similar properties by the beach (within 10kms). Also if the property is an apartment and doesnnt have a lift then take off 20% of this value

This of course does not take into account things such as pools, location, views whether an apartment has a lift (which devalues a house by 10-25% depending on floor if it doesnt have a lift) etc, but will give a rough and ready guide to your homes value. If it is out by more than 10% then you will struggle to sell in todays market because this is similar to the formula used by the banks to calculate mortgage values.

What can you do to make sure your house sells.

You have to work closely with your agent on this one. Most agents work hard to achieve a sale in todays climate but they are let down badly by sellers who claim to want to sell but put so many obstacles in the way it makes it difficult. So what follows is a checklist of what YOU can do to help sell your house.

Before your first visit

1.Clean IT! When the agent is coming to take photos do you really want people to see the Junk in the spare bedroom, the tools all over the living room floor and the dogs basket in the kitchen in photos no of course not so clean your house before the agent comes to take photos and before every visit. It sounds like common sense but you would be surprised how many people dont and have a take it or leave it attitude. Dont be surprised then if the buyer has the same attitude and leaves it.

2.Be available. There is nothing more frustrating than hearing No cant do tomorrow got to go shopping or some other excuse. We get people over from the UK to look at houses and they generally have a few days here. When your agent calls to ask for a viewing make the time (or dont whine that your house isnt selling). If you cant make it get someone else to do so. Better still give the agent a key. He is working for you to help you sell your house so help him. Putting it off for two days gives the buyer the chance to see 10 or more houses so yours may not even get a visit.

3.Take a look at the price. It is unfortunate that in Spain it is generally the buyers who set the prices and the agents dont bother to tell them whether this is right or wrong. Ask your agent to do a proper valuation. Or better still pay for a bank valuation. Then set your price below this. Remember the agents commission needs to be added to the price 3-6% is normal though you may be able to negotiate with your agent. But do you really think your house s worth what youre asking. If it is out by a 5% it may be the difference between getting clients and not. In nearly every case that a house isnt selling it is down to the price usually they are way over priced but the owner believes that their house is the best dont we all but take a reality check

4.Time for a change. Paint the house. If it is a villa paint inside and out. It is a little cost which makes a big difference. It gives the house a clean feeling to it and paint it in bright non offensive colours such as cream or dare I say it Magnolia/Egg shell. Doesnt matter if you like it or not you arent going to be living there much longer.

5.Get rid of clutter. Even big rooms can look tiny with loads of clutter around. Just have the essentials you need for living the rest store in a garage or rent a storage room. Clutter is the second biggest killer of house sales after cleaning.

6.Consider having a makeover done it can be done pretty cheaply. A few soft furnishings, well placed pictures and a mirror in the right place, table set as if for a dinner party, plants placed in strategic places doesnt cost much but the effect is incredible.

Prior to visits

1.Make sure it is cleaned and everything tidied away.

2.Remove pets If you have cats dogs or any other animals get rid of them when people come. Your dog may be a little gem but many people are scared of dogs and wont want to be in there when dogs are present.

3.Also make sure you get rid of the smell of pets before the visitors come over. If you have cats do not EVER let them go into the kitchen (or even the house) when a visitor is there you may believe they are the cleanest pets in the land but the visitor wont. Also bear in mind many people suffer allergic reactions to cats dont lose a sale because of it. Take the dogs out for a walk (dont just chain them up outside because they still bark and can frighten people.)

4.In Summer put the AC on for half an hour beforehand, In winter put the heating on. A comfortable temperature is 21 Degrees. It gives an ambience and people feel comfortable generally at this temperature.

5.Open all doors and windows unless of course it is raining cats and dogs outside. Make the place look bright and airy this is a great selling tool even to Spanish buyers. And make sure all the blinds are open - dont sit in a dark house when visitors come.

6.Make an impressive entrance. The entrance is the first thing people see and the first impression is the most important. Clean the garden, make it tidy, put plants outside the door, make it welcoming. If you live in a flat make sure the communal entrance is clean and tidy, get rid of bicycles and prams from the entrance a friendly word with your neighbour will be sufficient.

7.Smells. Get rid of any odours. Dont cook smelly foods like garlic or fish just beforehand. It can be off-putting. I once went t o show a house and the owner was cooking something dreadful it smelt like old wellies and made your eyes water we were out of there so fast. Shame because it was a nice house.

8.Be cheerful. If you look miserable the buyer will sense this and probably not want to be there. Ideally leave the house when the visitor comes and let the agent do their work. It can be off putting for a buyer having the owner there. It means they cant open up to the agent.

9.Be quiet. Dont ever try and sell your house. That is what the agent is there for. What you may regard as a unique feature and selling point may be someones worst nightmare. You do not know what the client has told the agent beforehand and your pearls of wisdom may be the very thing they didnt want to hear so keep quiet unless you are asked a question. Then of course answer honestly.

Afterwards

One of the most annoying things about estate agents in Spain is that they seldom call you afterwards to let you know what is happening. If they dont call you then then call them. Find out what the feedback was. Ask the agent before the visit to inform you of the feedback from the client and LISTEN to what they tell you.

If it is something you can change without problem change it. But always call the agent afterwards give them a day or so.

Hopefully that has given you some ideas to help you sell your house. If you are desperate to sell and have a

If you have any comments on the subject matter or want any advice then please feel free to contact me. vbtudor@spanishproperty-direct.com and for more articles about buying in Spain look at the website http://www.spanishproperty-direct.co.uk If you would like a free copy of the e-book - "An Insiders Secret Guide To Buying A Property In Spain" then drop me an email and I will send you a copy by return.

Airline Tickets Florida
Light House Full Life Center
La Fitness Weight Loss
Nombres Para El Bebe
Local News San Antonio
Toledo Weather
3 Pack X10 Lamp Module
New Jersey State
Cell Phone Send Video
Restaurant Coffee Mug
Alan Jackson Concert Tickets
Yahoo Finance Dell
100 Mtv Rock Top Video
Professional Psychic Readings
Nc Fishing License
Easy Home Based Business
Flight Qantas Tracker
Harlequin Dance Floor
0a Care Career Health
Green Loss Study Tea Weight
Box Ca Service Truck
Capri Mexico Resort Secret
10 Year Wedding Anniversary Gift Idea
Shawnee Music
Airplane Cheap Favicon International Ticket
Free Fake Celebrity Picture
Oregon Bed And Breakfast Depoe Bay
Antenna Direct Satellite Tv
Proxima Lamps
3 Beach Laguna Mtv
Murphy Bed For Sale
Driving
Bed Breakfast Fireplace Louisiana
07 Tundra
Free Sport Logo
Villa
Bed And Breakfast Directory
Carolina Hiking North Scenery Waterfall
Flood Florida Insurance
Acadia Bed Breakfast Maine
Math Concepts
1 800 Phone Number Lookup
Bad Credit Finance Home Mortgage
How Global Warming Works
Disney Channel Shopping
Beach Estate Mexico Real
Monmouth County Public Records
Accessory Car Low Model Rider
Conan Swords
Solar Heated Bird Bath
Washington State Dept Of Real Estate
100 Christmas Song Top
Midway Kentucky Horse Farms
Bank Euro Finance International Madrid Spain
Diana Hotel Rome Italy
Magliner Hand Truck
Disney Map Walt World
Filtered Internet Provider
Flaming Pear
Fish Tank For Sale
Timeshare
1 John
Guatemala Map
Orlando Retirement Community
1 5 Attic Attic Dollanganger Flower Flower In In Series Through
Tv Ao Vivo
Administration Care Cigna Health Medicare
5 In 1 Sofa Bed
John Seifert
Public Accounting Career
Worm World Party Demo
1 800 Mattress Retailer
2007 Live Nba Picture
1971 Camaro
Recipe Card Free Download
Wholesale Dollar Store
30 Coffee Cup Urn
Basketball T Shirt
Sprint Store Location
Animal Bag Paper Puppet
Carpet Compare Prices
Cheap Cruise Spain Ticket
3 Man Shirt Spider
Cingular Flip Phone
Lamp Berger History
Toddler Pea Coat
Edison Research
Wacoal Ibra
Apartment For Rent In Boston Ma
2 2007 Beta Office
Cartoon Cartooonnetwork Com Network
Southern Farm Bureau Casualty Insurance Company
07 2006 Hockey Nhl
1 64 Farm Scale Toy
Picture Of Snow And Ice
Miniature Horse Trailer
Texas Cosmetic Surgery
Babies Clothes
The Winter Of Red Snow
Garden Oriental Statue
Bag
Book Mineral Vitamin
Soldiers Texas
90cc Atv Wholesale
Child Book About Bird
Cafe
Swordsman Shirt
Castro Center Eden Medical Valley
100 Celebrity Female Hottest
Charlie And The Chocolate Factory Lesson Plan
1968 France Gall Music Shopping Track Yahoo
Flower For A Funeral Service
1 U Server
Strawberry Kitchen Curtain
1 4 Car Charger In Ipod Kensington
Fifa Soccer Play Station
1 Army Uniform War World
Vegetarian Diet For Dog
Development Guide Healing Mother Psychic Wit
Charly Flower For Algernon
California Family Health And Fitness
1 Beauty Fitness Health Mark Mf
Crystal
Nokia 3560 Cellular Phone
Janes Defence Weekly
Us Green Cards On Investments
Bag Bean Chair Soccer
Az Condo In Phoenix
Insurance Money Save Travel Uk
History Of The Church Of Jesus Christ Of Latter Day Saints
Christmas Wood Craft
When I Fall In Love Nat King Cole
Dave Brubeck Cd
Third World Academy Of Science
1 2006 Dancing November Star
Kitchen Aid Refrigerator Water Filter
Minton Bone China
Cyprus In Paphos Villa
Holiday Dress Juniors
Avalon Club In Night Nyc
Abc College Coverage Football
100 Song Top Wedding
Cb Cobra Dealer Radio
Gn Mortgage
Electronic Mouse Control
Chart Forex Live
1 Book Carving Flower Fruit Vegetable Veriety
Boutique Chanel Coco Earring
Body Fitness In Mind Pilates Skill Survival Teacher Thriving World
Taos Nm And Bed And Breakfast
123 Inkjet
California Commercial Estate In Listing Real
Paper Bag Princess Activity
1 Alternate American History Jesus Liar Religious Right Version Vol
?c=n;o=d
Letter Of Recognition
Cursos De Japones
How To Read Tea Leaves
Vacation
1 Day Detox Diet
144 Kriya Technique Yoga
From Home Internet Job Opportunity Work
French Guiana Magazine Newspaper
1 Cartoon Political Propaganda War World
Canada Card Cellular International Phone Service Wireless
2006 Bear Chicago Ticket
Steriods Supplement
Jewelry Cleaner Solution
Funny Sayings
Spy Cam Surveillance Equipment Wireless Security Camera
School
Hairy Anus
American Football Free Game
Free Satellite Programming
Cheat Vending Machine
Home Insurance Office Post
Patong Beach Phuket Thailand
How Many Planet
Table Tennis Video
10 Best Place To Retire
Waste Oil Heater For Sale
Costume Hearts Queen Sexy
Application Job Printable
Boston Sales Yacht
Ford Hybrid Car
Bvlgari Sun Glasses
Colored Glasses Martini
Bed Platform Twin Xl
Sexy Sun Glasses
10 Basics
Home Inspection Online Training
2004 Prediction Prophecy Psychic
Pet Premium Product
Size 14 Snowboard Boot
Home Mortgage Rate Rate Refinance
California Health Insurance Online Quote
Hot Prom Hair Style
Equipment Florida Restaurant Used
Getty Ticket Villa
Prostate Cancer Support Group
Course Defensive Driving In Online Texas
Plastic Foil Coated Paper Bag
Free Lookups
Cancun Time Share
Lime Green Bed Spread
Entertainment Gossip Magazine
1 800 Bedding Mattress
Light Blue Prom Dress
Bike Dirt Wheelies
American Academy Of Cosmetic Dentistry
In And Out Fast Food Restaurant
Movie Trailers
Discount Tennis Bag
Plus Size Devil Costumes
Sony Tv Repair
Chaise Bureau
10 Flight Simulator
Bird Guide Indies West
Backyard Soccer Mls Edition
100 Cascade Central Hike Hike Hundred In One Oregon
Home Insurance Manufactured Quote
Subaru Calgary