Unrealistic vendors?

playaz

Rudess wrote: »

That's exactly the problem in this country and I wrote about it in the post above.

I agree.... people have the mindset from years ago when people were making serious money from houses before the crash, recession etc..

In addition, just imagine if nobody bought houses because buyers had no ability to save up a big enough deposit in conjunction with massively inflated house prices.

Doesn't matter how much you think your house is worth - if nobody can afford to buy it off you those numbers don't mean much.

Don't get me wrong... if I had purchased a house 5 years ago for £200k - i'd like to know i'd get what I had paid but sometimes that just cannot be the case.

This is almost becoming a FTB's vs existing owners thread.. lol

Oh well.. on a sadder note.. Portsmouth got relegated again today.. I can imagine their value has dropped way more than most houses have in 5 years!

Thrugelmir

playaz wrote: »

This is almost becoming a FTB's vs existing owners thread.. lol

For my sons sake I hope prices fall.

My property only has value when I die. So is worthless to me. Other saving me paying rent.

sw_jay

SuzieSue wrote: »

I don't really know what the OP is complaining about - the value of a house is not a science - it is simply what someone is prepared to pay for it.

I don't agree with the OP's notion that sellers are being unrealistic. The OP wants to buy, but isn't prepared to pay more than than he thinks the property is worth. So why should the sellers accept less than they think it is worth unless they are desperate to sell?

I understand that sellers would only sell for what they think their house is worth, what I don't understand is where they think these vastly inflated prices have come from. That's what I believe to be unrealistic. Something has got to give surely if we are to kick start this stagnant property market again?

SuzieSue

sw_jay wrote: »

I understand that sellers would only sell for what they think their house is worth, what I don't understand is where they think these vastly inflated prices have come from. That's what I believe to be unrealistic. Something has got to give surely if we are to kick start this stagnant property market again?

But the prices are only inflated in your opinion. Why do you think you are right and the sellers are wrong?

The market is stagnant because buyers like you won't or financially can't pay prices above what they think the property is worth and sellers won't or can't financially accept less than they think it is worth.

No-one knows for sure which way the market will go and it might stay stagnant for years to come. So you can either wait and wait for months or years or take a risk and get on with the rest of your life.

sw_jay

SuzieSue wrote: »

But the prices are only inflated in your opinion. Why do you think you are right and the sellers are wrong?

I'm only going on what lots of research tells me (on sites like this, Land Registry etc). In the area I live in house prices have dropped significantly since 2006/2007. So if a vendor has stuck an extra 30k on the asking price since then without doing any work to justify it, is that not inflating the price?

breadlinebetty

Thrugelmir wrote: »

All has changed. The property market is at a pivotal point. So take those RTG's off. Those with patience may well be rewarded.

And YOU'D know would you?:D

Perhaps you could share your great wisdom and knowledge with the banks - you'll earn yourself a fortune!:rotfl:

playaz

What does RTG mean??

SuzieSue

sw_jay wrote: »

I'm only going on what lots of research tells me (on sites like this, Land Registry etc). In the area I live in house prices have dropped significantly since 2006/2007. So if a vendor has stuck an extra 30k on the asking price since then without doing any work to justify it, is that not inflating the price?

No, he is asking what he wants or needs to be able to sell which is his right. A house is only worth what someone is prepared to pay for it and so if someone buys it for that price then it isn't over-inflated because that is what it was worth. If someone doesn't buy it then no-one will know what the house was worth until someone does buy it.

In a stagnant market the only people who buy and sell houses are those that have no choice but to move or those who are prepared to take a risk.

If you don't have to move and don't want to take a risk buying incase house prices fall further, then don't, but don't blame vendors for being unrealistic because they are only doing what you are doing - they aren't moving because the don't have to move and don't want to risk selling at a lower price incase house price go up soon.

playaz

Think its fair to say its probably best for all parties we'll agree to disagree :-)
Either way... to some prices are unrealistic and to others they are realistic... I'm off for now.. good luck with the debate

P.S I still ain't too sure what RTG means? Is it 'Ready To Go'? Google did tell me 'radioisotope thermoelectric generator' (which I am sure probably isn't in this context lol)

SuzieSue

playaz wrote: »

What does RTG mean??

rose-tinted glasses