Record number of unsold homes on the market

Having trouble selling your home? You're not alone.

The number of unsold homes on the market has reached its highest level in more than two years, says the National Association of Estate Agents.

Research by the association shows that the number of people selling their home in June was higher than any month since April 2009, with the average number of homes on sale per branch of estate agents jumping almost 10%.

The percentage of sales to first-time buyers also fell from a quarter of all sales to just a fifth.

Of course, the association has tried to spin this as positive news about the property market, claiming the “return of sellers” demonstrates a “boost in housing market confidence”. It points out that monthly sales also increased, from an average of eight properties per branch to nine.

But the fact is, if your home is on the market right now, it’s now going to have to compete with an average of 73 other properties on sale at that very same branch! That’s nearly 10% more than it would have had to compete with in May. Considering that increase has taken place at all the other estate agents in your area as well, that’s a lot more properties to contend with.

So how do you make your property stand out from the crowd and attract a buyer?

A winning combination

There are two ways to ensure a property flies out of the estate agents' window:

•  There is nothing that will put buyers off

•  There is something that will turn buyers on

The best properties combine both.

What puts buyers off?

According to a survey by Co-operative Financial Services, house-hunters are most likely to be put off by smells -- particularly damp (26%), followed by tobacco (25%) and drains (19%).

Nationwide, on the other hand, claims cigarettes and pets are the worst smells, adding that ‘DIY disasters' and ‘poor building work' is most likely to turn off buyers.

Halifax, meanwhile, claims buyers think limescale or mould build up are among the most undesirable features of a property. Many buyers were also put off by properties that didn't have parking spaces or gardens.

And if the property did have a garden, Halifax found the following ‘features' would put buyers off:

Personally, however, I'd take most of this research with a pinch of salt. I mean, really, any buyer who is put off a property by a gnome belongs in Bedlam anyway.

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On the other hand, it is common sense to ensure that your house is in tip-top condition before you show it to buyers: i.e the wallpaper isn't peeling off the walls, there's no mould growing in the bathroom and it doesn't smell of socks and bananas.

So tidy up. Fix anything that needs fixing. Weed the front garden and sweep the front path. Get rid of peeling paint and marks on the walls. And do it all before the estate agent comes round to take a picture (or insist on a new one).

Remember, the property is about to go on a blind date with the next love of its life. It needs to look good.

What turns buyers on?

This is a little bit more difficult to answer. After all, every buyer is different.  But here's what, according to my research, appeals most to buyers:

1.  A white front door. A survey by the Co-operative found that a white front door is the most desirable, followed by red, blue, green and brown. Unpopular colours, meanwhile, included pink, orange, yellow, purple and grey.

2.  A celebrity neighbour. Some pundits claim a celebrity neighbour can make a property more desirable to buyers.  Then again, it could work against you if you live next to Pete Doherty...

3.  A green home. Even environmentally unfriendly buyers know that double glazing, central heating, energy-efficient boilers and loft insulation are worth having -- so if you've got it, don't be afraid to flaunt it.

4.  A good school. According to Alliance & Leicester, schools are the single most important local amenity for house-hunters, with newsagents and pubs following close behind.

In fact I could go on forever: a brand new kitchen, a brand new bathroom, period features, a Jacuzzi, a view of a snow-capped mountain...

You get the picture. The list of what buyers want truly is endless. But, at the end of the day, all of it fades into the background next to the final, but most important, wish on their wishlist: a low price.

For example, my flat, when I initially saw it, had a bright red kitchen, damp in every single room and a yard covered in weeds. Did it put me off? No way -- because the price was right, which meant I could afford to put the rest right, too.

As a last resort, lower your price

So, the harsh reality is, no matter what colour you paint your door, if you are desperate to sell and you can't find a buyer, you may need to lower your price.

A compromise -- as an alternative - would be to register the property with as many different estate agents as you can. The one who is successful may end up charging you a higher commission fee than they would have done, had you registered exclusively with them. But on the plus side, your property will get a lot more exposure, and the agents will compete to get you a buyer.

There's no doubt that sellers are facing tough times. But remember, you don't need thousands of house-hunters to eye up your living room. You only need one. The right one.

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