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

System

caprikid1 wrote: »

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:

Please provide some more accurate figures than these then. I think you will find these two sets of figures are the most accurate guide to average asking prices vs average selling prices.

lisyloo

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.

There is possibly an explanation such as an estate that’s going through probate.

System

lisyloo wrote: »

There is possibly an explanation such as an estate that’s going through probate.

The photos do not look like a probate house. Quite modern furniture, well kempt and lived in.

lookstraightahead

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.

Perhaps, so maybe the op instead of getting frustrated at the blind arrogance of the seller should just laugh it off and move on. I find people who sit in their castles for ages on the market are just wasting their own time. Whatever is the point? Do they want to sell or not? I don't see many successful business hanging around waiting for things to sell. If I see a property that has been on the market for a year (there's one by us that just keeps changing agents) I can't even be bothered to have a look at it.

phoebe1989seb

babyblade41 wrote: »

my neighbours house has been up for 2.5 years ... over priced but they seem happy to keep it there.

At some point someone will want just that house and buy it

When we lived in the west Midlands there was a house in our lane that had been on the market for several years. It was admittedly huge (4500 sq ft, nine bedrooms) and also being sold by a divorced couple of which he still lived there with a couple of their grown up kids. It had planning to demolish and replace with three detached, executive homes.

After more than ten years on the market and only a couple of price drops, I noticed recently that it was finally SSTC.....

RelievedSheff

Diocletian_II wrote: »

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

I can see why you have not bought a house yet if you view properties expecting a 26% reduction in the asking price based on that logic :rotfl::rotfl::rotfl:

System

RelievedSheff wrote: »

I can see why you have not bought a house yet if you view properties expecting a 26% reduction in the asking price based on that logic :rotfl::rotfl::rotfl:

Who said I am expecting a 26% reduction? I am merely point out that average selling prices calculated by the ONS are currently 26% below average Rightmove asking prices. That is a huge difference.

lisyloo

Diocletian_II wrote: »

The photos do not look like a probate house. Quite modern furniture, well kempt and lived in.

Ah right, so only elderly people and slobs kick the bucket?
Great news :T

System

lookstraightahead wrote: »

Perhaps, so maybe the op instead of getting frustrated at the blind arrogance of the seller should just laugh it off and move on. I find people who sit in their castles for ages on the market are just wasting their own time. Whatever is the point? Do they want to sell or not? I don't see many successful business hanging around waiting for things to sell. If I see a property that has been on the market for a year (there's one by us that just keeps changing agents) I can't even be bothered to have a look at it.

I only look at it from time to time, perhaps once a month or so, to see if there has been any change. I expect it will be there for many years more to come. The sellers may just get a bit of thrill out of having their house permanently displayed online for the world and his wife to see inside and out.

System

lisyloo wrote: »

Ah right, so only elderly people and slobs kick the bucket?
Great news :T

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