Debate House Prices


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Greedy sellers...

Why are sellers considered greedy because they don't want to let their property go cheap?

It might not suit the bears plans but only a fool wants to sell when the market for anything is bad, not just houses.

If you were selling a soft top car, you would know December is a bad time in the snow. Obviously you would wait until spring and the nice sunny weather.

So, are soft top car owners greedy as well if they are not chopping 10% off and selling in December?

Not greedy just sensible. Hang on to those houses people. You'll get the good money again next year.
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Comments

  • purch
    purch Posts: 9,865 Forumite
    edited 9 December 2010 pm31 6:26PM
    Not greedy just sensible

    Yes, just like those petrol retailers trying to profit from shortages by jacking up their prices.

    Not Sensible just Greedy
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • It's only common sense to make the best from any situation and selling a house is business not charity.
    I've yet to come across anyone who does'nt look after themselves first.
    That might seem greedy but it's also extremely sensible.
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Why are sellers considered greedy because they don't want to let their property go cheap?

    It might not suit the bears plans but only a fool wants to sell when the market for anything is bad, not just houses.

    If you were selling a soft top car, you would know December is a bad time in the snow. Obviously you would wait until spring and the nice sunny weather.

    So, are soft top car owners greedy as well if they are not chopping 10% off and selling in December?

    Not greedy just sensible. Hang on to those houses people. You'll get the good money again next year.

    And whats going to fuel next years boom? It wont be the banks anyway
  • purch
    purch Posts: 9,865 Forumite
    That might seem greedy but it's also extremely sensible

    We won't know if that is correct until next year.

    The OP assumes that sellers will get higher prices next year.

    If they don't, it won't be sensible it'll be extremely stupid.
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    That might seem greedy but it's also extremely sensible.

    Depends how long you cling on for.

    You only have to look at the selling board to find some are quite happy to cling on and on, not sell for the offer (lets for instance say its a 180k offer) and find themselves a year on no further than they were, so reducing to 180k to get offers of 170k.

    It's like everything. The house is worth what someones will to pay. You can hold out, but it's a gamble at the moment.

    It's sensible to get a sensible price. I don't think it's sensible to hold out for the top whack.
  • quantic
    quantic Posts: 1,024 Forumite
    Part of the Furniture Combo Breaker
    People seem to overlook the fact that a lot of sellers cannot sell below a certain price, or they won't be able to move (negative equity), the other half of it is that a lot of sellers where told prices which are no longer possible in this economy, for example; in my parents street houses where selling for around 550k so they had theirs valued and it came in at 575k, but now they are selling for about 450-475k so my parents are sitting tight. I think they see it as losing 100k rather then realising that they paid 275k and 475k is still a very good price.
  • Why are sellers considered greedy because they don't want to let their property go cheap?

    It might not suit the bears plans but only a fool wants to sell when the market for anything is bad, not just houses.

    If you were selling a soft top car, you would know December is a bad time in the snow. Obviously you would wait until spring and the nice sunny weather.

    So, are soft top car owners greedy as well if they are not chopping 10% off and selling in December?

    Not greedy just sensible. Hang on to those houses people. You'll get the good money again next year.

    Sibley, that's all well and good but there are occasions when people have to sell for whatever reason. Be it because they have to relocate for example due to work. Or they are no longer to maintain mortgage payments etc.

    You I'm afraid are just stating the obvious in that most people who do no NEED to sell at the moment won't. However, as I said it is not always a choice for everyone.

    By the way why do you feel the need to have 2 user names on MSE?
  • Depends how long you cling on for.

    You only have to look at the selling board to find some are quite happy to cling on and on, not sell for the offer (lets for instance say its a 180k offer) and find themselves a year on no further than they were, so reducing to 180k to get offers of 170k.

    It's like everything. The house is worth what someones will to pay. You can hold out, but it's a gamble at the moment.

    It's sensible to get a sensible price. I don't think it's sensible to hold out for the top whack.

    Totally agree with that too.
    You just have to be sensible overall and evaluate the situation as it it unfolds.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    quantic wrote: »
    People seem to overlook the fact that a lot of sellers cannot sell below a certain price, or they won't be able to move (negative equity), the other half of it is that a lot of sellers where told prices which are no longer possible in this economy, for example; in my parents street houses where selling for around 550k so they had theirs valued and it came in at 575k, but now they are selling for about 450-475k so my parents are sitting tight. I think they see it as losing 100k rather then realising that they paid 275k and 475k is still a very good price.

    Exactly the same as my parents, and I couldn't for the life of me get them to think differently.

    The top value they ever had, became the value, no matter what. Anything else was a loss, even though in reality, they were still on a 270% profit over 10 years.

    They still think the same now in the newer house, mortgage free. Even though they don't want to move, mum see's these reports of falling house prices and tells me shes losing money.

    I have to bite my lip :o
  • Eric1
    Eric1 Posts: 490 Forumite
    Depends how long you cling on for.
    Almost all houses I viewed this year were vacant, the owners had just died. It looked ominous at first, but then I realized they were simply priced more sensibly :)
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