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

System

MobileSaver wrote: »

Conversely what's going on inside a buyer's head that they are interested in a property but won't view it because "the seller might be unreasonable?"

To be frank, out of the potential buyer and the seller, I think it's the buyer who is acting weirder in this particular scenario...

If a buyer bought it for that price, and then needed to sell, they would not be able to sell again without making an immediate loss. Why would a buyer want to buy a house that would immediately lose them money? That would be a crazy waste of money!

System

Davesnave wrote: »

The theme in this village seems to be gradual reductions spread over years, which matches the pace of life, I suppose!

Yes, it may be rural thing. Maybe people in the countryside may be more behind on market news etc than elsewhere. They may be slower to appreciated the deterioration in the market.

AnotherJoe

Diocletian_II wrote: »

What's going on inside the seller's head when a listing sits on the market for nearly 6 months, unreduced and unsold? I don't want to view, since the stagnant listing history reveals that the seller is most probably a rigid and unreasonable person.

Don't take this personally but by taking such a set of assumptions regarding this seller, and refusing to view, you are sounding like a a rigid and unreasonable person

System

AnotherJoe wrote: »

Don't take this personally but by taking such a set of assumptions regarding this seller, and refusing to view, you are sounding like a a rigid and unreasonable person

In a seller's head, viewings just validate over-pricing. They think that because people view their house at that price, they are interested in it at that price, and the price must therefore be about right. I do not want to validate any misguided ideas that I am interested in the house at that over-inflated price. After all, average selling prices are now 25% below average asking prices.

caprikid1

I can never understand why buyers moan about over priced things for sale, I see it all the time with cars that have the perfect spec and sellers are willing to wait.




Sometimes sellers want a price end off, there is an old adage everything is for sale and has a buyer its just a matter of price.


Some markets are slow, some take a long time to find the right buyer. Sometimes properties are quirky and need to wait for the right person who loves the house , location etc but will accept the quirks.


A rural property in mid wales with equestrian facilities could take a minimum of 12 months to sell and not be reduced at all. A flat in London on the market for 12 weeks without an offer would be considered over priced when the market is good.


Sounds like the OP wants the property but is not prepared or able to give the owner what they want. Move on and find another.

System

caprikid1 wrote: »

I can never understand why buyers moan about over priced things for sale, I see it all the time with cars that have the perfect spec and sellers are willing to wait.




Sometimes sellers want a price end off, there is an old adage everything is for sale and has a buyer its just a matter of price.


Some markets are slow, some take a long time to find the right buyer. Sometimes properties are quirky and need to wait for the right person who loves the house , location etc but will accept the quirks.


A rural property in mid wales with equestrian facilities could take a minimum of 12 months to sell and not be reduced at all. A flat in London on the market for 12 weeks without an offer would be considered over priced when the market is good.


Sounds like the OP wants the property but is not prepared or able to give the owner what they want. Move on and find another.

No. I am just aware of the current market statistics:
Average selling prices are more than 25% below average asking prices.

NaughtiusMaximus

MobileSaver wrote: »

Conversely what's going on inside a buyer's head that they are interested in a property but won't view it because "the seller might be unreasonable?"

To be frank, out of the potential buyer and the seller, I think it's the buyer who is acting weirder in this particular scenario...

I'm with the OP on this.

There was an example when we last moved a couple of years ago, a perfectly reasonable, but by no means amazing or unusual, 3 bed semi listed for £220,000. Two identical properties in the same small street had sold within the past year for between £160 and £170,000

The fact it had been on right move for 9 months and the asking price hadn't budged tells you there is absolutely no way the seller would suddenly knock 40-50k off the price and we'd only be wasting our times by viewing it and attempt to enter into negotiations.

caprikid1

Diocletian_II wrote: »

No. I am just aware of the current market statistics:
Average selling prices are more than 25% below average asking prices.

Link please from a reputable source.


Thanks

System

NaughtiusMaximus wrote: »

I'm with the OP on this.

There was an example when we last moved a couple of years ago, a perfectly reasonable, but by no means amazing or unusual, 3 bed semi listed for £220,000. Two identical properties in the same small street had sold within the past year for between £160 and £170,000

The fact it had been on right move for 9 months and the asking price hadn't budged tells you there is absolutely no way the seller would suddenly knock 40-50k off the price and we'd only be wasting our times by viewing it and attempt to enter into negotiations.

Yes, this is exactly my point. The history of the listing is clear evidence that any negotiations with the seller would be futile and a waste of time, before even trying to start.

Davesnave

Originally Posted by Diocletian II
No. I am just aware of the current market statistics:
Average selling prices are more than 25% below average asking prices.

caprikid1 wrote: »

Link please from a reputable source.
Thanks

You beat me to it!


By all means try to talk the market down, but do it with soething we can all evaluate.