Property Bee - Overpriced Homes

LittleMissAspie

Bothered! wrote: »

I have dropped 8% in 3 months not dropping anymore though just so EA can get a sale.

EA? Is it not YOU that wants a sale? That's an odd thing to say.

patch3228

Bothered! wrote: »

Same thing is occuring in my area, I came on market at right price 250k when like properties were still showing 07 prices of 280k, I still havent sold though! and one EA has been playing sellers against one another stating " well we just reduced that one and this one so you should come on market at lower!" playing with our money.....

Alot of houses i notice in this area with other agents are still like 07 prices and not dropping nor selling... only ones selling are those priced below 180k.

I have dropped 8% in 3 months not dropping anymore though just so EA can get a sale.

You might not be in a situation where you are forced/ need to sell ... which is good

But I think realistically you'd need to lower the price, as you said "43 viewers in 4 months" in another post

Out of interest, what cheeky offers have you had?

pandamonia

patch3228 wrote: »

You might not be in a situation where you are forced/ need to sell ... which is good

But I think realistically you'd need to lower the price, as you said "43 viewers in 4 months" in another post

Out of interest, what cheeky offers have you had?

This is a very good point! 43 viewers no sale? lol - You are part of the problem not the solution.

By holding out with artificially high prices you are making the market look like a sudden crash than a gradual decrease. more homes would sell if priced to sell and confidence in the market wouldnt be so low, problem is that there are sales 50-60k below asking which creates caution for people like me looking to buy

Maz

Keeping a 'sharpish' eye on property in my area, I've noticed that high end properties are the most reluctant to reduce, or maybe it's just that a £10k reduction still leaves you thinking 'you must be 'effin joking!' I live in a 90% rural area so we all know the history of properties and a barn conversion is always going to be just that - a barn!

silvercar

43 viewings suggest you are in the right price range for the description given to buyers; you pass the "looks alright on paper" test. If you have had low offers then it suggests that thre are bad features that are uncovered at viewing. So you either need to price lower to make your home good value depsite the problem areas or you need to present a more balanced view on paper so you don't waste time conducting unnecessary viewings - probably both if you are serious about selling.

dopester

pandamonia wrote: »

Is it just me or are there still 80% of the homes on the market today priced like its 2007?

Shussshhhh. Don't tell anyone, but asset asking prices are at crazy insane levels, as are personal debt levels, most banks are still taking a severe kicking - whereas people with any real money to spend are few and far between.

Property asking prices are totally in the Twillight Zone compared to the state of the economy.

At the peak of a credit expansion or a bull market, assets have been valued upward, and all participants are wealthy - both the people who sold the assets and the people who hold the assets. The latter group is far larger than the former, because the total supply of money has been relatively stable while the total value of financial assets has ballooned.

Bothered!

Of the 43 there have been no negative comments, just lots of people sitting in rented in my area looking for a bargain.

Only selling to satisfy by EX, but every drop is money from his pocket as he has not got to buy again, mine loss on price drop is not that good but I have to buy elsewhere or rent?.

To be honest I think I am underpriced in comparision to other agents stock, the agent I am with has majority in my immediate built up area so is controlling sellers prices and drops to settle deals with their buyers. I can delay sale but not sure what future holds!

Bothered!

patch3228 wrote: »

You might not be in a situation where you are forced/ need to sell ... which is good

But I think realistically you'd need to lower the price, as you said "43 viewers in 4 months" in another post

Out of interest, what cheeky offers have you had?

between 25 -30k uner asking price

dopester

Bothered! wrote: »

I have dropped 8% in 3 months not dropping anymore though just so EA can get a sale.

Don't sell then. Give it time. We've seen stories here before of anger and upset at next-door neighbours going on the market for £50K less than the other person is trying to sell at. You personally don't decide the market price - you are at the mercy of the market.

Bothered!

LittleMissAspie wrote: »

EA? Is it not YOU that wants a sale? That's an odd thing to say.

Sorry but the EA I am with are hound dogs!!! ha ha