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

System

Deleted_User wrote: »

completely agree. you make some valid points (beyond the crazy maths )

Youve got to decide if the home is genuinely overpriced in which case you offer what you feel its worth. The vendor may decline as they cant afford to accept it (or are being stubborn) and you move on. Plenty properties are overpriced but there are also plenty of motivated vendors

Ive got a client at the moment that has been told his home could get a very high price by an estate agent. He doesn't need or necessarily want to sell but if someone offers what the estate agent claims he can get them he will bite their hand off.

You can guess why the property hasnt had any reductions until the cows come home, it doesn't change anything.

I usually tell my clients to ignore the price advertised and do the research on other properties and offer what they feel it is worth. You've got to be happy with what you pay at the end of the day

I'm not hung up on this house, I only notice it from time to time. It is just an example of a house that is on permanent Rightmove display, and me wondering what is going through the heads of the owners. Maybe they are strange people who get a thrill out of showing it to the world, like the Big Brother house. Maybe they feel having their house on public display for years makes them celebrities.

System

caprikid1 wrote: »

It can sound how you like to hear it, I have multiple houses you have non so who is doing this right or maybe I am unrealistic and keep buying more houses as I cannot sell them :rotfl:

I think most people would agree that it is not normal to not mind or even enjoy having your home on permanent public internet display, inside and out, for all the world to voyeuristically gaup. I would say it is a distinctly odd pursuit.

p00hsticks

A time travelling house, which appears to have changed from being on the market for less than six months in the opening post to 'many years' in the space of a couple of days ?!.

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.

Diocletian_II wrote: »

It sounds like you would be quite happy to have your house advertised for sale for many years, like the one I have noticed.

I wouldn't drop the price for such a rarity....

caprikid1

Diocletian_II wrote: »

I think most people would agree that it is not normal to not mind or even enjoy having your home on permanent public internet display, inside and out, for all the world to voyeuristically gaup. I would say it is a distinctly odd pursuit.

OP yet another fact you have made up on the spot.


I think most people who actually own a house would know that 6 months is not a lot of time to go from a listing to a sale completion.


A listing on rightmove does not tell you there have been no offers or no people progressing a sale. The seller may chose due to having idiot buyers previously they do not wish to mark the property as sold. But hey carry on making assumptions and making up facts.

System

caprikid1 wrote: »

OP yet another fact you have made up on the spot.


I think most people who actually own a house would know that 6 months is not a lot of time to go from a listing to a sale completion.


A listing on rightmove does not tell you there have been no offers or no people progressing a sale. The seller may chose due to having idiot buyers previously they do not wish to mark the property as sold. But hey carry on making assumptions and making up facts.

As you imply, these so called 'sellers' (who do not sell), do not mind their private lives being on semi-permanent or permanent public display, maybe they even get a thrill out of it! That's social media for you.

rosieflowers

I agree it's odd OP and would feel embarrassed to do this myself. There's a couple in my area that are simply overpriced - been on for a year or more at say £350k for a hugely overdeveloped 3 bed terraced when you can get these at £300k, or £300k for a 2-bed end-terraced when you can get a 3-bed for the same price.

If they come on at the right price they sell very quickly.

I just don't get the logic - OK you're entitled to want the price that you want and not sell if you don't like the price, but why leave it sat there in the very distant hope that someone will pay gold for copper?

I think it's different with niche/ unusual or high value properties - there's simply a smaller pool of buyers for these but when the right one comes along they will pay what it's worth.

However with more common housing stock with plentiful comparables I think there is an easily identifiable 'market value' so it seems illogical and extremely unlikely that you'll find someone wanting to pay significantly more than it's actually worth.

If OP wanted a premium house at a three-bed semi price I'd think he was being unreasonable but when you're talking about average houses with good comparables it is pointless to sit on the market at an unattainable price in my opinion.

System

p00hsticks wrote: »

A time travelling house, which appears to have changed from being on the market for less than six months in the opening post to 'many years' in the space of a couple of days ?!.





I wouldn't drop the price for such a rarity....

I've seen houses for sale for more than a few years!

hazyjo

Like someone above said, how do you know they have not had offers fall through? Considering 1 in 3 ish fall through, it wouldn't be surprising. Especially as it takes around 3 months each time to buy/sell.


Also, it's not all about what others have previously sold for. Maybe they are the only option (seems that way if you've not found anything else while this has been up) so will leave it up in the hope someone will be desperate enough to live in that area and pay it.


I was offering on a house a couple of years ago which was overpriced. They dropped once or twice but would only take the asking price. I thought it was still overpriced as it needed a lot of updating/work. Eventually we both caved and got to about £6k apart but neither of us would budge from that. I'm not usually that stubborn, but this really was the absolute max (and more) that I was willing to pay. It did eventually sell for the asking price.


I'd say most expect to be up for at least a month or three. I don't think six months is that horrendous. Two years, yes. But not six months.

System

rosieflowers wrote: »

I agree it's odd OP and would feel embarrassed to do this myself. There's a couple in my area that are simply overpriced - been on for a year or more at say £350k for a hugely overdeveloped 3 bed terraced when you can get these at £300k, or £300k for a 2-bed end-terraced when you can get a 3-bed for the same price.

If they come on at the right price they sell very quickly.

I just don't get the logic - OK you're entitled to want the price that you want and not sell if you don't like the price, but why leave it sat there in the very distant hope that someone will pay gold for copper?

I think it's different with niche/ unusual or high value properties - there's simply a smaller pool of buyers for these but when the right one comes along they will pay what it's worth.

However with more common housing stock with plentiful comparables I think there is an easily identifiable 'market value' so it seems illogical and extremely unlikely that you'll find someone wanting to pay significantly more than it's actually worth.

If OP wanted a premium house at a three-bed semi price I'd think he was being unreasonable but when you're talking about average houses with good comparables it is pointless to sit on the market at an unattainable price in my opinion.

I think those 'sellers' must imagine their normal house is something very special, and more unique than similar but much lower priced houses. Perhaps they think the quality of the photos or the paint colour in the hall bumps up the value by £50k. Personally, I think that's an odd mentality. But some posters here obviously think it's very normal.

System

hazyjo wrote: »

Like someone above said, how do you know they have not had offers fall through? Considering 1 in 3 ish fall through, it wouldn't be surprising. Especially as it takes around 3 months each time to buy/sell.


Also, it's not all about what others have previously sold for. Maybe they are the only option (seems that way if you've not found anything else while this has been up) so will leave it up in the hope someone will be desperate enough to live in that area and pay it.


I was offering on a house a couple of years ago which was overpriced. They dropped once or twice but would only take the asking price. I thought it was still overpriced as it needed a lot of updating/work. Eventually we both caved and got to about £6k apart but neither of us would budge from that. I'm not usually that stubborn, but this really was the absolute max (and more) that I was willing to pay. It did eventually sell for the asking price.


I'd say most expect to be up for at least a month or three. I don't think six months is that horrendous. Two years, yes. But not six months.

It's not gone 'under offer' at any point, An offer that falls through can actually just be false hope that makes a seller more unrealistic.