? Estate Agents price cut ....

pinkshoes

bukup wrote: »

this is obviously dictated depending on what area you are in ,yes there are many factors.But blaintant overvaluing of properties does not help.

but it's not blatant overvaluing if people are willing and can afford to pay for it!! I mean the big question is, "Do you want it, or not?!?!"

If I took my flat and placed it a mile further out from the city centre, then I certainly wouldn't have paid the amount I did for it. In fact, I wouldn't have even considered buying a flat in an area further out!! There are limited places to build in this city centre, so when smaller properties do come onto the market (flats and 2 bed terraces), they are in high demand and go for high prices. There is other property further out for a fair bit cheaper, but I don't wanna live there! SO yeah, my flat was alot of money, but it's what I wanted, it took AGES to find something suitable, and a million times better than renting!

dnwilliams

bukup wrote: »

In my opinion if one main agent was to cut house prices by a fraction then all other agents would follow and a healthier market would be achieved. What do you think?

EA's are not greengrocers, they can't just reduce the prices of the properties they market. They can, however, endeavour to pursuade their clients to reduce the price, but on the whole this is easier said than done.

bukup

pinkshoes wrote: »

but it's not blatant overvaluing if people are willing and can afford to pay for it!! I mean the big question is, "Do you want it, or not?!?!"

If I took my flat and placed it a mile further out from the city centre, then I certainly wouldn't have paid the amount I did for it. In fact, I wouldn't have even considered buying a flat in an area further out!! There are limited places to build in this city centre, so when smaller properties do come onto the market (flats and 2 bed terraces), they are in high demand and go for high prices. There is other property further out for a fair bit cheaper, but I don't wanna live there! SO yeah, my flat was alot of money, but it's what I wanted, it took AGES to find something suitable, and a million times better than renting!

If in 12 months time,your property has decreased by 10%,and in 3 years time when it has decreased by 35-40%,will you feel the same ?

real1314

Having seen 5 sales of similar properties marketed at £85k each from March 2005 right up to the current date, I've consistently seen discounts obtained, ranging from £5k on the first one in March 05 to £4.5k on the latest one.

Seeing discounts of 6% now is no different than over 2 yrs ago.