Greedy sellers...

JonnyBravo

shortchanged wrote: »

By the way why do you feel the need to have 2 user names on MSE?

<sigh>

It's been covered more than once. One is a log-on from work. He's quite open about it.

doire_2

JonnyBravo wrote: »

<sigh>

It's been covered more than once. One is a log-on from work. He's quite open about it.

<sigh>

Did you hold back for a second and think maybe shortchanged didn't know and thats why he/she asked?

shupufski_2

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.

It is known as "anchoring"

Sibley

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?

Yes that's right.
My work laptop uses some sort of intranet software. Doesn't like public e mails log in's or something.

I've always got my netbook beside me watching the Cricket as well.

Back to the subject at hand.

Graham.

I'm confused big time.

Why the flip would you want to talk your parents into selling their house cheap to somebody else???:eek:

That's your inheritance your giving away. Are you ok fella???

tyllwyd

Bangkok-Dave wrote: »

... 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? ...

I think of it like trying to sell your antique vase in a table-top sale - if the room is empty apart from a couple of people wandering around looking at everything but not buying, do you keep slashing the price of that vase to try to attract their attention, or do you pack up, go home and come back on another day when there are more people around? Looking at the properties I've saved on rightmove, seems like most people are chosing to pack up at the moment.

Generali

Bangkok-Dave wrote: »

Why are sellers considered greedy because they don't want to let their property go cheap?......Not greedy just sensible. Hang on to those houses people. You'll get the good money again next year.

Because greed and fear drive markets. If you think you can sell something for more tomorrow then of course greed takes over and you hold out for the higher price. If you think prices will fall then fear takes hold and you sell out for what you can get.

Greed and fear. Neither (for me) are meant as insults, just as statements of what I see. I realise that others use greed as an insult. Everyone is greedy really apart from a very small number that truly devote themselves to others.

Percy1983

It does make me laugh how many can't see that if there house has dropped in value so had the house they wish to move to, surely right now its better to sell and move up the ladder rather than holding out for a higher price to which everything else will increase too.

As I am keeping an I on things locally I can see 3 types of property:
1, Over priced, been there a long time.
2, Started over priced and have had a few reduction to a sensible price, will sell soon enough.
3, Straight in a a resonable price, will sell within a few months.

Right now there is enough properties in the stages 2 and 3 and some 1s are becoming 2s to keep house prices dropping slowly, I do agree there will be a point where it will stabilise but I dpn't know when that will be.

With that I have seen many with £x ot x% off if completed before * date, seems they know the trend is downwards so want to get people in quickly.

abaxas

I take offence at the tread title.

Shouldn't it be 'Greedy none sellers' as if they overprice they wont be able to sell.

Davesnave

Generali wrote: »

Because greed and fear drive markets. If you think you can sell something for more tomorrow then of course greed takes over and you hold out for the higher price. If you think prices will fall then fear takes hold and you sell out for what you can get.

I think this is right. In the autumn of '08 we were getting worried, so we decided to take a hit and sell 'cheap.' The people who bought our house had to do the same thing to get it. I believe the third down in the chain also had to reduce.

We didn't need to sell at all, but thanks to circumstances we'll call 'Life,' we'd been thwarted for years previously and the patience just wasn't there. We also had a suspicion that if we went into rented, ready with our cash, something would come along and 'reward' us for taking a risk.

The following spring, someone from our road went into a home and their house was sold for about £25k less than ours, setting a new post-2004 low for the street. Since then, despite a partial recovery, none of the other houses has gone on the market. That's about 18 months without a sale. Totally unheard of.

I bet their owners are all sitting there, loving us! :rotfl:

IronWolf

If people think this is the low of property prices, I think they're in for a shock. House prices are still highly priced by historical standards, if I owned a house I'd sell.