Where have all the buyers gone?

alchemist.1

Mickygg wrote: »

I agree with some houses that are overpriced, but sometimes you have to pay the going rate to get what you want.

If they are overpriced they are not the going rate? no?

I can only speak for my area whereby sellers add on 20% to something similar that has sold in the same area in the previous month. It's sellers prerogative to sell on their own terms which is fair enough.

Just think there is a stalemate in some places as sellers dont really need to sell unless its ridiculous offer and buyers are not willing to spend that much.

indianabones

Jon_B wrote: »

Well you can continue to wait for 3 bed semis to come down to £150k, but the chances are you'll be dead before that happens.

I'm not the only one who thinks houses are overpriced, the vast majority of people know houses are overpriced.

indianabones

Mickygg wrote: »

So you are waiting for house prices to dip your way by a third? You'll be renting along with the people you know for ever.

I agree with some houses that are overpriced, but sometimes you have to pay the going rate to get what you want.

Or sometimes you don't.


I read and hear many many example of people paying almost the asking price or more. Then I do research myself and find that the asking price is a joke and you shouldn't even use it when making an offer.


There are examples after examples of houses that are sold for more up to 25k less than the asking price. I've kept a nice record on my computer for 6 houses which over the last 12 months I've been too that have sold and many others that haven't.


Houses are in Willenhall/Wednesbury and Walsall.


House 1: Asking price =£225k / Sold £197k
House 2: Asking price =£217k / Sold £178k
House 3: Asking price =£205k / Sold £190k
House 4: Asking price =£225k / Sold £192k
House 5: Asking price =£200k / Sold £169k
House 6: Asking price =£217.5k / Sold £200k




The point I'm making is, no one has the price right clearly based on the above, the question is are the owners prepared to accept what buyers actually see the property as.

househuntingmad

I agree that a lot of people are wanting too much, but actually a lot of sellers are quite sensible about what they ask (or at least in the area I'm looking). I'm still looking to buy somewhere and have been for nearly a year, but I'm not in any hurry to buy (and currently debating whether I actually really want to... but that's another story!)

But if the OP is reasonably priced and willing to accept a reasonable offer, then indeed September should bring the next lot of buyers in ready.

Just don't end up like the one house I made an offer on (based on what I thought it was worth compared to other properties sold). Long story short, it's still for sale a year later, on with two agents, asking price is still way over what similar properties have sold for and the best bit... the seller is still claiming she's "desperate to sell"! And yet had not one other offer than mine over 9 months ago!

lessonlearned

The nice houses that are priced fairly and realistically will be snapped up, the average or mediocre houses that are overpriceed will languish.

If you want a quick sale then you price it competitively.

srn

Hi, thanks for all of your replies everyone. I think we are priced well and judging by the response, a good number of viewings and a quick offer, last time it was up for sale before the chain broke I think we will leave the price as it is. Fingers crossed for September!

jacko74

The only houses that aren't selling currently are either -

-Shabby houses in very undesirable areas, that nobody wants to buy regardless of the price.

or

- Average houses with well above average asking prices, being marketed by the 'kite flyers' who aren't really desperate to sell (so will stick stubbornly to their valuation).