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

caprikid1

I'll give you one if you like that says 3.3%


https://www.independent.co.uk/news/business/news/uk-property-housing-market-asking-selling-prices-gap-a8934421.html

caprikid1

Lets not forget we are going through a lot of uncertainty, buyers are looking for a Brexit turmoil bargain. Why should sellers give their houses away at fire sale prices if they don't have to. In 12 months time when Brexit is done and the doom mongering stops house prices could be more but everyone is holding off buying.

AnotherJoe

Diocletian_II wrote: »

In a seller's head, viewings just validate over-pricing.
That is an assumption on your part
They think that because people view their house at that price, they are interested in it at that price,
That is an assumption on your part
and the price must therefore be about right.
That is an assumption on your part
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.
So? Suppose that someone reduced their price to reflect that? Presumably you'd still offer 25% less on your "average asking/selling price" argument, so they'd be a fool to do that and should raise it 25% to allow it to be sold for the market price after a reduction.

How about if you viewed and offered what it was worth to you. Why would that not cement in sellers mind what it was worth better than no one visiting and no offers ? For all you know they had a couple offers at full AP that fell through or they know that some buyers like to get a good discount and so have raised their AP to take account of that. Or maybe indeed they just have a misplaced view of what it's worth and need an offer at a realistic price to reset their expectations . Or maybe the have delusions about its worth . Or they had two low offers rejected those but your third low offer would be the one that made them see sense. Or a dozen other possibilities,

Meanwhile you have rigidly made up a story to yourself about the explanation based on no evidence at all and are rigidly and unreasonably sticking to that.

gardian8

There is a house in an estate we were going to buy for £245k, we got pipped at the post as our house sale didn't go through as quickly as another interested buyer so they won it. Got a call from the EA saying they had another one coming on the market which was the same style house. For £295k!! That was on 1st April so I thought it was a joke. its still up for £295k. The EA said that the sellers would not entertain a lower offer. A load of other similar houses have since sold but these are more realistically priced around the £250k mark.

caprikid1

Lets not forget, the OP is a frustrated buyer who feels hard done by the fact that the houses he wants will not sell at the price he wants.


In fact he is so frustrated with his inability to do a deal he instructed a buying agent to do it for him, convinced they had some magic formula to get it on the cheap.


The OP implies he is all knowing on housing and its a problem in the sellers head but instructed an agent who apparently had some magic beans to change a sellers mind into giving a property away.

bigisi

caprikid1 wrote: »

Lets not forget, the OP is a frustrated buyer who feels hard done by the fact that the houses he wants will not sell at the price he wants.


In fact he is so frustrated with his inability to do a deal he instructed a buying agent to do it for him, convinced they had some magic formula to get it on the cheap.


The OP implies he is all knowing on housing and its a problem in the sellers head but instructed an agent who apparently had some magic beans to change a sellers mind into giving a property away.

And wasted £2.4k in the process :T

ReadingTim

Diocletian_II wrote: »

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

...and I'm aware that 72.9% of statistics are made up on the spot.

System

caprikid1 wrote: »

Link please from a reputable source.


Thanks

They are Office of National Statistics figures vs Righmove figures.

The gap between the average asking price calculated by Rightmove for the UK and the average sale price calculated by the Office of National Statistics for June is £79k (26%):

Average Rightmove asking price: £309,348
Average ONS selling price: £230,292

System

ReadingTim wrote: »

...and I'm aware that 72.9% of statistics are made up on the spot.

They are Office of National Statistics figures vs Righmove figures for the UK.

The gap between the average asking price calculated by Rightmove for the UK and the average sale price calculated by the Office of National Statistics for June is £79k (26%):

Average Rightmove asking price: £309,348
Average ONS selling price: £230,292

caprikid1

Diocletian_II wrote: »

They are Office of National Statistics figures vs Righmove figures.

The gap between the average asking price calculated by Rightmove for the UK and the average sale price calculated by the Office of National Statistics for June is £79k (26%):

Average Rightmove asking price: £309,348
Average ONS selling price: £230,292

You cannot take two different random averages and make these ridiculous extrapolations. OP leave statistics to the statisticians and house buying to house buying agents. :rotfl: