When a listing just sit there with no reduction and no sale

MysteryMe

Davesnave wrote: »

This sort of thread is why Martin relocated 'Debate House Prices and the Economy' in the MSE basement (second door on the left past the water pipes. )

That's where it belongs too IMO.

Or just binned. :money:

System

MysteryMe wrote: »

Or just binned. :money:

Plenty of people have said they like this thread. You just don't like people mentioning houses that are languishing on the market unsold, because you think it is not a good look. I expect you are like the owner of the house in the thread.

PS Do you want to buy my old Ford Escort? I only want a hundred grand, but nobody will buy it..

System

There is also this one I noticed and wondered what strange ideas are going on inside the sellers' heads. It's not the one I am looking at, but it has been for sale for about 2 years without selling. Non-standard, ageing, softwood timber build, so not really eligible for a mortgage. Better houses in the area are advertised for about £200,000 to £300,000 less. I expect some people here, probably undeclared estate agents, will say it is normal to over-price a house by a couple of hundred grand, not reduce the price, and let it sit on the market unloved, with the listing going more and more stale. The landlords here will no doubt believe it is potential buyers who are being unreasonable for not just handing over their cash. https://www.rightmove.co.uk/property-for-sale/property-63650143.html

PasturesNew

Diocletian_II wrote: »

There is also this one. It's not the one I am looking at, but it has been for sale for about 2 years without selling. Non-traditional, ageing, softwood timber build, so not really eligible for a mortgage. Better houses in the area are advertised for about £200,000 to £300,000 less. I expect some people here will say it is normal to over-price a house by a couple of hundred grand, not reduce the price in 2 years, and let it sit on the market unloved, with the listing going more and more stale. The landlords here will no doubt believe it is potential buyers who are being unreasonable for not just opening their wallets and handing over the cash. https://www.rightmove.co.uk/property-for-sale/property-63650143.html

That's an exceptionally strange one though. It's been run as a business so would attract people who want the hassle of an income-limited business, so then would depend how much they could grow that.

It's in Davidstow... nothing happens there unless you like cheese.

That property is a niche property, awaiting the 3 people in the country who want something like it to turn up and wish to develop the business into cheese lover workshops with camping

The tents are making a few quid though in the meantime.
http://www.belletentscamping.co.uk/prices.html

System

PasturesNew wrote: »

That's an exceptionally strange one though. It's been run as a business so would attract people who want the hassle of an income-limited business, so then would depend how much they could grow that.

It's in Davidstow... nothing happens there unless you like cheese.

That property is a niche property, awaiting the 3 people in the country who want something like it to turn up and wish to develop the business into cheese lover workshops with camping

The tents are making a few quid though in the meantime.
http://www.belletentscamping.co.uk/prices.html

Second hand tents are clearly an enormously valuable commodity, worth mega-mega-bucks.

PasturesNew

Diocletian_II wrote: »

Second hand tents are clearly an enormously valuable commodity, worth mega-mega-bucks.

They might even rent them in. There's a company out there that owns tents like that and they rent them/erect them for you, then remove them at the end of the season. So they might not even own those ones, so they don't have erec... er, putting them up issues.

Davesnave

PasturesNew wrote: »

They might even rent them in. There's a company out there that owns tents like that and they rent them/erect them for you, then remove them at the end of the season. So they might not even own those ones, so they don't have erec... er, putting them up issues.

Arent they modern yurts? Can we say 'yurt' on here? The bungalow is pretty extensive; probably an old Colt cedar jobbie or a couple of them joined together. The Scandinavians seem to get on OK with wooden houses.

I agree it's a niche property, not or the faint-hearted, but maybe for someone with developing a vision for cheese sculpting holidays etc. Down my way, a similar development, based around a piddly 2 bed barn, sold very quickly, much to my surprise:

https://www.rightmove.co.uk/property-for-sale/property-78313388.html


Stags, the agents, shift more properties than average by pricing keenly. Of course, they got mine wildly wrong, undervaluing by a mile, but I suppose that sometimes happens. They probably overvalued the Davidstow one, but there again, if one of those 3 people sees it....who knows?



I know one thing, I wouldn't want it, so whether it sells or not is of no interest, as it's not near me. It's over the Tamar as well. Enough said!

MobileSaver

Slithery wrote: »

I own all the land I'll ever need and I'm not planning to ever sell it thanks. Crash or boom will not affect me at all.

PS - I've never been a landlord

+1

I own several properties but none are rented out.

I've no intention of selling my main property but may do when I'm too old to manage and enjoy my twenty acres; at that point in my life I'll have more money than I could spend in my remaining lifetime and probably have little motivation in doing so anyway. I really won't care whether property prices are up 30%, down 30% or the same as today.

It does seem to me that the people most obsessed with house prices are those that don't have one. They've either convinced themselves that a crash is about to happen any day now so keep paying their landlord's mortgage for years and years instead of their own (e.g. Crashy Time still renting in his 50s) or more likely they simply can't afford the house they want and blame house prices rather than lowering their expectations or improving their finances.

System

MobileSaver wrote: »

+1

I own several properties but none are rented out.

I've no intention of selling my main property but may do when I'm too old to manage and enjoy my twenty acres; at that point in my life I'll have more money than I could spend in my remaining lifetime and probably have little motivation in doing so anyway. I really won't care whether property prices are up 30%, down 30% or the same as today.

It does seem to me that the people most obsessed with house prices are those that don't have one. They've either convinced themselves that a crash is about to happen any day now so keep paying their landlord's mortgage for years and years instead of their own (e.g. Crashy Time still renting in his 50s) or more likely they simply can't afford the house they want and blame house prices rather than lowering their expectations or improving their finances.

Funny how landlords like you, plus estate agents, are too embarrassed to admit it.

System

Davesnave wrote: »

not or the faint-hearted, but maybe for someone with developing a vision for cheese sculpting holidays etc

It's next door to the massive Dairy Crest Davidstow Cheddar processed cheese factory, You are definitely an estate agent. I am sure a damp 'processed cheese sculpting holiday' under canvas would be an estate agent's worst nightmare, but for the hoodwinking sale's patter.

Or for £200k cheaper you could get this bigger, much better house, with an acre more, from the same estate agent, (which isn't selling either) : https://www.rightmove.co.uk/property-for-sale/property-69969274.html