Sellers will never drop their prices

bendix

Sibley wrote: »

I don't like this sneaky comment.

I have one voice not several. I had another ID on here that I used from my work PC. I haven't posted under that for ages.

I comment on the Express and Sky as Sibley. Same name.

Other may have other names. I couldn't be bothered.

You may not agree with what I say but don't try and discredit me with that rubbish ok?

Hi Bangkok Dave. How are you, mate?

Pete111

A possible reason many remain bullish about house prices in the UK over the medium term

http://www.bbc.co.uk/news/uk-12535437

Sure it's ok though - we are building more than enough new houses right? Oh....

Nikel

Sibley wrote: »

You may not agree with what I say but don't try and discredit me with that rubbish ok?

OK Hamish.
Haha j/k

Davesnave

A few examples, all properties in Wales, but a nice part, and with 5-10 acres of decent land outbuildings etc.

Property 1: On market in 2006 @£440k. We looked, liked, but couldn't see the value. Offered less. Rejected. Owners wanted to move nearer family 10 miles away, so not much incentive. Still on market today @......... £440k !

Property 2: On market in 2006 @£475k We looked when it had dropped to £425k in 2008. Wanted to offer less, but various things put us off, like the cost of changing hideous 'improvements,' so we walked. Owners 'desperately' wanted to go back to home counties, but husband away all week, so only the compliant wife really suffering! Now, after almost 5 years of mucking about, has reached £395k.

Property 3: On market in 2008 @ £345k. Vendor discovered partner had terminal illness and withdrew it before we could view. Now back on market in 2011 with total redecoration, new kitchen and expensive equestrian improvements @£299k.

Guess which one I think will sell this spring!

There are always people who will deal. The question is whether they've got what you want. Flexibility is the key. We were looking primarily in Wales, and look where we ended up! :rotfl:

Davesnave

2010 wrote: »

Some people have no choice but to reduce their asking price, death, divorce and desperation.

You forgot prison.

bendix

AD9898 wrote: »

If people absolutely need to move they will drop the price, they have to. You only have to look at approvals, the market is dead. Divorce, separation, illness, accident, death. All these issues happen everyday, they take no notice of the market.

Eventually the price will give.

Well, while it's true to say they take no notice of 'the market', it's more accurate to say that while ignoring they market, they actually contribute to the market.

There is no such thing as 'the market'. There is an amalgamation of tens of thousands of individual transactions, undergone for very personal and specific reasons.

purch

Sellers will never drop their prices

I think history has shown that not to be the case.

Mallotum_X

Pete111 wrote: »

A possible reason many remain bullish about house prices in the UK over the medium term

http://www.bbc.co.uk/news/uk-12535437

Sure it's ok though - we are building more than enough new houses right? Oh....

So if all these extra people are coming in at the moment and prices are still falling then why might that be?

Do we really have a fundamental lack of homes, im not so sure we do, some stats might indicate this, but they have been saying that consistently year after year, so where are the masses of tent cities? Or are the immigrants finding places to live within the current property market.

We have somewhere in the region of three quarters of a million empty properties in the UK, yet we are told there is a shortage of housing. (http://www.emptyhomes.com/usefulresources/stats/statistics.html)


Perhaps we dont really have much of a shortfall afterall.

[Deleted User]

The price is dictated by the market. If you need to sell you will have to accept the going price, whatever that is.
At the moment the market price is probably hard to assess due to low volume.
As prices have dropped and now seem to be bouncing along a lot of would be sellers that can wait will do so or look at letting rather than selling.

I didn't read the previous thread so I don't know where the points of contention are but this is my opinion FWIW.

serious_saver

I know of one house near to where my parents live that was valued at £850,000 and put on the market as such. Once it had been on the market for a few months someone put in an offer of £700,000. It was turned down. Roll on 18 months and the house is sold for £646,000 to the same person who's offer was rejected. My parents made friends with him when he moved into the area and learnt all about it.

****EDIT****

I think the blame lies (at least partly) with estate agents who over value properties in order to get business.