Selling French houses

[albert]

Hey Guys
Is anyone else out there trying to sell their French house at the moment? How is it going? Or has anyone sold recently? Our house has been on the market for 3 months, with a large local agent and also an agent who markets houses in the UK. We've had only 3 viewings so far, one lot of which were obviously just being nosy and weren't the least bit interested in buying. I'm beginning to worry that it will take forever to sell. The house is lovely and in excellent order. But I get the feeling that the English are not buying in any numbers and that few French in rural areas have the money to buy a nice house.
Thanks in advance

 

[alexander]

Hello Albert,
For the last 18 months I have thought the market for sales to the UK market for anything over Euros 120000 was pretty thin. When we were looking to upgrade from a holiday home 15 months ago the mantra from French agents was it is very good that you are looking now we could not spend this amount of time with you in the summer. Many houses which we looked at are still on the market. UK view was that on average people looked at 15 houses before they bought which means on average 15 viewings to sell. Both times we purchased in France we looked at least 20 properties.
I would add information on where you are trying to sell in France to the question
I would search the Internet and see how easy it is to find your house and how many similar homes come up. If you cannot find your house add extra agents. Get some UK based friends to search then ask for more details of your house and see how long they take to come through
I would also select say a dozen houses on the internet which were similar and see if they were sold in the period you were trying to sell. When we were selling up in the UK three years ago we watched 20 properties which were on the market when we started on sell only two of which had sold 12 months latter .
All the best

 

[DPA France]

Hi - where is your house located?

It may be a good idea to recruit more agents locally. The one in the UK is almost certainly required to be working through an agent in France anyhow.

Market it tough but a good agent should be able to sell a good house. Are you happy with how it is presented? if not - complain !

search for our site "dordogne property agency" for more info

Good luck

 

[Creekybaby]

House Sale

Hi Albert,
I have had my house on the market in Provence for 2 years with only a couple of views in the last 6 months. We have at least 6 agents, 3 internet sites & a interested friend who is helping us. The latest information is in Nov 2008 is that house prices have dropped by 20% & the Brits are not buying only euro countries. My house is in the 550,000euro range & my agents tell me below 400,000euros & above 1 million are selling reasonably well-----go figure.

I have over 5000 sq metres of land a swimming pool & 5 bedrooms plus 220 sq metres of living space. I have repainted the outside put down a new patio & painted rooms inside lighter colours, doing what the experts tell you to do---------but it is still not sold-------------go figure!!

Anyway I wish you luck, regards

 

[Pierre Guillery]

I'm afraid your experience reflects the state of the market. Basically, everything's pretty much frozen. And as for the the Brits, they have stopped buying - period. If your asked price has been set with the guidance of the estate agent, then it's surely too high. If you're in a hurry to sell, lower it by 20%. I'm not kidding. Otherwise, be patient.

Now, unique properties will always find a buyer at the right price. Where's your property, what is it and how much do you want for it?

Pierre
+33 (0)6 8434 8992
[Send a text message if you want my email]

 

[Creekybaby]

French Property

Hi Pierre,
I live in Trans-en-Provence, very well placed for the coast, 3 airports, lots of amenities. I had my house on the market originally at the immobiliers request for650,000euros, since then I have dropped the price to 550,000 euros & would consider a further drop if someone would look at my place and give me a reasonable offer. I am on Green acres website, property number 5478 if you want to look.

I am lucky, that I am retired & I don't need to sell immediatelly, but I have been looking for a property in the Brittany area of France, as the climate is more agreeable to me there. I am returning to Provence in January, & if there has been no movement I am thinking of long term rental until the market improves

I'm afraid your experience reflects the state of the market. Basically, everything's pretty much frozen. And as for the the Brits, they have stopped buying - period. If your asked price has been set with the guidance of the estate agent, then it's surely too high. If you're in a hurry to sell, lower it by 20%. I'm not kidding. Otherwise, be patient.

Now, unique properties will always find a buyer at the right price. Where's your property, what is it and how much do you want for it?

Pierre
+33 (0)6 8434 8992
[Send a text message if you want my email]

 

[Pierre Guillery]

The only house in Trans-en-provence I found is referenced "682a-2210lo". Is this the one ? At 2,900€ per sq.m, it seems reasonably priced. But as it seems the house is not an "old" (as in: mas-type) one, it's got competition. Is the view somehow remarkable? What about the surroundings? If so, I'd suggest adding pictures. I can't see anything happening for you before you go back in January. Unless you're in a hurry (which you say you're not) I think renting longterm makes sense - if you find the right tenant, ie somebody who's not going to require that you fly in every two weeks to fix the plumbing...

 

[neustria]

Re. "If your asked price has been set with the guidance of the estate agent, then it's surely too high."
******************************************************************************************************

I respectfully disagree with this statement. Estate agents are there to SELL property. So what sells better and faster, a cheaply priced asset or an overpriced asset?

Enough said!

 

[Pierre Guillery]

Re. "If your asked price has been set with the guidance of the estate agent, then it's surely too high."
******************************************************************************************************

I respectfully disagree with this statement. Estate agents are there to SELL property. So what sells better and faster, a cheaply priced asset or an overpriced asset?

Enough said!

I dont have any grudge with estate agents, I know both good ones and bad ones. In a plentiful market, where everybody believes they can be an agent and collect 10%, there are lots of bad ones (especially in areas where demand is high, and/or foreigners are numerous). And bad agents tend to want to "collect" larger portfolios of overpriced properties (with a mandat exclusif to lock the customer in for a few months...) in the hope that a few will sell - and they make more (supposedly) on the overall commission amount. That's easier done, keeps owners "happy" (well, until they've had no inquiries months after months). At little shortsighted - especially in a sliding market, granted. Now, good agents will look to advise owners to set a realistic price, that's true. But until the (estate agent) market "clears out", there are more bad agents out there than good ones. Hence my generalisation. (I'm not an agent BTW!)

Enough said?

Pierre Guillery
Fractional ownership consultancy in France
+33 (0)6 8434 8992

 

[karaman]

Hi Guys,

does somebody experience similar problems in Paris as well? Or is the real estate market in the capital still working fine?

I am just considering investing in Paris and I am not sure if it wouldn't be best just to wait few months.

Thanks

 

[Pierre Guillery]

If you're a cash buyer, you can start looking around in Paris and negotiate prices down. French notaires have (finally) acknowledged the price slide, so owners know this is a buyer's market. So, yes now could be the time to start looking.

Pierre Guillery
http://www.francefractionalinvest.com

 

[neustria]

Kara,

Given the extent of this downturn, it would be foolhardy to invest anywhere. Nobody knows where this thing is going. If you are cash rich, don't throw your advantage away. In my opinion.

The real estate agents of course will tell you otherwise.

 

[sextant]

Hi Albert,

If you PM me your property details with pictures and exact address then we can forward it to our closest local office. If they are interested they will contact you.

To give you an idea we have a network of 160 offices in France: www.sextantproperties.com