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Prices increasing when house doesn't sell
Tom72TT
Posts: 22 Forumite
Just been looking into a house that is up for sale.
Beginning of May it's price increased by £5,000, then middle of May it went up another £28,000. Why would somebody do that when its been on the market for a year.
Beginning of May it's price increased by £5,000, then middle of May it went up another £28,000. Why would somebody do that when its been on the market for a year.
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Comments
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... Because the owners have read that some average house price index has gone up by X%, and they feel justified in increasing their asking price to match?0
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THey're living in some parallel Universe where it's still 2003?0
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They are just deluded. No matter what its on the market for, offer what you are prepared to pay, if it matches what they are prepared to accept then you have a deal.
Also, feel sorry for the poor EA havign to deal with these muppets!I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Is it possible they bought it as a repo and have completely renovated? May explain the £28k increase.[STRIKE]DFD 22/7/14[/STRIKE]
OD £1200 ~ CC1 £1875 ~ CC2 £1275 ~ Tesco £4757 ~ Creation £235 ~ FIL £25750
DEBT @ 28/03/2018 = £35092
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I don't live far from it and it hasn't sold for a few years.
The only thing I can think it is, they haven't sold for ages, maybe they are not that bothered anymore.0
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