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

KeepOnKnitting

This is the case with a place near me. Listed for 13 months now at £5k more than any house in the street has ever sold for. It's a terrace, so they are all the same size.

The owner bought at the top of the market in 2007, so I just assume that they haven't paid off much of their mortgage.

MobileSaver

KeepOnKnitting wrote: »

The owner bought at the top of the market in 2007, so I just assume that they haven't paid off much of their mortgage.

That sounds highly unlikely after 12 years!

kimplus8

if you feel it is so over-priced and that the sellers are so unreasonable, why not just scroll past it on rightmove/zoopla or whatever and focus ur energy on properties you feel do have reasonable prices/sellers.

System

kimplus8 wrote: »

if you feel it is so over-priced and that the sellers are so unreasonable, why not just scroll past it on rightmove/zoopla or whatever and focus ur energy on properties you feel do have reasonable prices/sellers.

That's exactly what I do, and what other potential buyers are doing too. I just find it interesting to speculate what is going on inside the heads of these eternal (non)-sellers.

They may alternatively just enjoy having their houses advertised for sale and having strangers look round. Maybe it makes some feel like local celebrities, and they do not want that to stop.

lookstraightahead

newsgroup_monkey wrote: »

Are we still arguing about 25% reductions?
Sellers have the absolute right to sell for as much or as little as they want.


People over the road from us have put their house up for the average selling price in the street and have done all year. Except their garden is only about 40ft compared with 100ft+ in the rest of the street.


They're entitled to do so, and I'll be very happy for them if they get their asking price. They've recently taken it temporarily off the market, because they don't want to be moving over Christmas. Apparently, it'll go back up again in January.

Of course they have the right. I just don't see their point. It's been on for a year and now they've taken it off. In the new year, if they are lucky they will sell (probably at the price they are asking for as they obviously don't want to reduce) and it will be valued below. Ad infinitum. I wonder what their circumstances are to just have it sit on the market.

Murphybear

Diocletian_II wrote: »

Elderly people do not usually have modern furniture. And if they have died, their houses would not looked *lived* in.

Can you define “elderly” please. We are 67/71 and only have modern furniture

In fact, thinking about it, every person I know well enough to have seen inside their home has modern furniture. All of them being older than us.

Murphybear

Diocletian_II wrote: »

That's a nice way of justifying illogical behaviour. I have an old beat up Vauxhall Escort and I think I am being sensible and normal advertising it continuously in Autotrader for a hundred grand. Nothing unusual.

There are 37,495 Vauxhalls on Autotrader as I type this. Not a single Escort among them. Must be really rare.

Afternote: I notice he’s changed his Vauxhalll into a Ford

Murphybear

Diocletian_II wrote: »

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

Ones in Cornwall, ones in Devon nearly 30 miles apart. Not a direct comparison

newsgroup_monkey

Diocletian_II wrote: »

The Property Log asking price reductions (happening increasingly frequently every day now in my target areas) greatly exceed the statistic you mention. Which is why Property Log is such a useful transparency tool for buyers!

Sorry, I'm not putting this one down.


Are you saying that Property Log (which sounds like the Patma tool I suggested above), provides you details in a usable format of every single listing with the average drop against the actual selling price (as logged with the Land Registry)?


I thought it only worked on individual properties. That would mean even if you spent days and days using it, you'd only get a small proportion of the actual UK housing market.



If that's the case, I'll stick with the Zoopla information which is based on the entire property market in the UK (well, OK 90% because not all EAs use Zoopla as well).

System

Sorry, I like the Property Log extension, and you are not going to convince me otherwise. Property Log is very useful to me, since I can see and keep track of the big asking price reductions - £25k, £50k, £100k - that are taking place in my target areas right under my nose. That's invaluable information for a buyer, and I recommend it to everyone, both buyers and sellers. Home. co. uk is an alternative that also covers the other sales platforms. It has more functions, but the font is very small, which I don't like.