Sellers will never drop their prices

Mallotum_X

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?

Back to the thread though, do you honestly believe that sellers will never drop their prices, and they should just hang on forever until they get the price they first thought of?

tamrick

This paragraph sums up for me why sellers will drop their prices this year, if they have any intention at all of selling:

1.3m homes came onto the market in 2010 on top of the 730,000 that were already being advertised at the start of the previous year. HMRC recorded just 884,000 sales with 560,000 mortgages. Just 43% of sellers found a buyer last year and it looks like 2011 will be even tougher. We started the year with nearly 1 million homes on the market and with even more piling on the chances of your home selling this year looks like it will fall below 40%.

I can't post links but it's from the 'comment' section of Henry Pryor's housing expert website.

Londonsu

It also depends on the area and the amenities in the area.
My best friend put her mums house on the market in October last year, an ordinary 3 bed semi but in the catchment area of a very good school, they had an open day and had 10 people viewing went to a 4 way sealed bid scenario, whilst another friend has had her 3 bed semi on the market for over a year and dropped the price twice with no takers.

twirlypinky

Sorry for not reading all the responses.

My OH and i are putting his house on the market in June for probably £93k. If, after 6 months, it hasn't sold, we're going to reduce the asking price by £1k every month until it does. Houses are only worth what someone is willing to pay, end of.

geneer

We only need to compare the asking price indices to the land reg indicies to determine the accuracy of the OPs assertion.

ukcarper

twirlypinky wrote: »

Sorry for not reading all the responses.

My OH and i are putting his house on the market in June for probably £93k. If, after 6 months, it hasn't sold, we're going to reduce the asking price by £1k every month until it does. Houses are only worth what someone is willing to pay, end of.

How far will you be prepared to go?

nearlynew

If the seller is a HPI cheerleading debt-junkie then ......


PEAK PRICE IS THE RIGHT PRICE

Wookster

Originally Posted by Sibley
I think prices will stagnate. People will never drop the price of their house. If somebody thinks their place is worth £250k they will just wait until that figure is achieved be it now 1 year or even 5 years time. Houses just won't go on the market.
Do you honestly believe that people will never drop?

Honestly Sibley has syphilis dementia. He thinks interest rates will never rise :rotfl::rotfl:

Sibley

Back to the thread though, do you honestly believe that sellers will never drop their prices, and they should just hang on forever until they get the price they first thought of?

Yes I do.

I don't know how many per cent of people NEED to move or sell.
These are the houses that people have a chance of buying cheap. The forced sales.

Bears are waiting for interest rises because they think it will tip households of the edge financially. What they seem to conveniently forget it that these arguments about houses dropping in value etc were going on when rates were around 6% 2 years ago.

These low rates are just a massive bonus to most people not the lifeline the bears are making out it is.
I was paying everything including a new car and credit card bill. These low rates gave me the chance to finish my debts early and overpay my mortgage.

I can only use myself as an example. My tenants rent used to cover the mortgage. That was at 5-6%. Now it's happy days.

Even if rates went above 6% I would be able to pay it easily. I do work after all. Now lets be honest. They won't be even 6% for years.

I'm a normal working bloke and didn't have and still do not have any friends I know in dire straits so personally all the interest rate rise doom and gloom sounds crazy to me.

Next people who would LIKE to move or sell.

Just as an example. I live in Loose near Maidstone. I don't care what prices are doing in NI, Manchester or North England. I don't want to live there. Even if prices dropped 90%.

I suppose I'll get the usual ' Round my way' comments but look on Rightmove. Round here prices have not really dropped at all. I was shocked to see how much houses were selling for. They are moving as well. Yes, some have been 5-10% off the asking price but in my opinion sellers hiked the price up more than that to start with.

If I want to upgrade. Unless every house is reduced then no way am I going to sell mine cheap. What for?
I used to look at cheaper places and found you get what you pay for. Most of the bargains the bears harp on about are in less than Des res areas and need work done.

I noticed on HPC they were showing off some house in Maidstone that had been reduced 10% or something. Yeah in Parkwood. Enough said. :eek:

Apart from that group you also have people in the early stages of their mortgage. They couldn't drop the price unless they fall into NE. With low rates nobody will do that. No need to.


Getting credit is the only thing holding people up at the moment.
If banks start lending there will be no shortage of buyers.

If banks don't relax lending criteria the market will stagnate. I think there are more happy homeowners now than ever.

As for the BTL mob. Well, on IO deals it's happy days isn't it?

I do know a scumbag landlord just like the bears hate.

He must have 10 run down nightmate places. Before the rates went down I was waiting to hear he had gone bust. Now my mates tell me he's driving around in a new Merc convertable.

Another group of homeowners are the ones who see their property as their pension. Again, no chance of them dropping the price. They also have time on their hands.

Does anyone think prices will be lower than they are now in 10 years time?

No?

I think that answers that one as well.

Rochdale_Pioneers

If you are going to make a large profit anyway, why wouldn't you drop the price if you need to sell?

People who aren't dropping their prices are the ones who can't afford to sell for less. Not that there are exactly a lot of buyers out there in either scenario - mortgages are a wee bit hard to come by unless you have a vast deposit already saved up.