Sellers being unrealistic about pricing

Jarviscocker

Some idiot like myself will come along and buy it pol

roddydogs

"For years?" So youve been looking "for years?"

[Deleted User]

Vendors do not just pluck figures out of the air like "I think my house is worth this much so I'll ask for xxx".

They get it valued by a professional, in many cases more than one, so will have a number of estimates to be able to scale their asking price on.

Whether they aim for the top of that scale or the bottom, all depends on how keen they are to get a quick sale, or if they're happy to wait around for a few months to get their AP.

The fact you can see a pattern shows that it is just how the market is in that area, and you need to either be prepared to pay market price or look for somewhere else.

Titus_Wadd

We bought at the end of last year; next door has been off and on the market for about 2 years and just went on at £170k more than ours for roughly the same footprint as ours, but in need of a few updates. They must have great figures for Rightmove hits, mainly my friends and family looking for a laugh! Ofcourse top of the list of recently sold properties nearby is ours. It's a win win from our perspective: it's given us a laugh and if they sell maybe ours has appreciated by a huge percentage too? Nah! It's just a laugh!

Thrugelmir

bartelbe wrote: »

The other category tend to be houses that had a long term elderly owner, who hasn't updated in years and neglected maintenance. They need allot spending on them to get them upto scratch and that isn't taken into account in the price sellers want.

Location and potential often have a value. If you plan major personalisation then existing condition isn't a deal breaker.

Yalpsmol

If you cant afford the houses dont look at them (or if you feel they are not good value). Treat them as not on the market. Theyll either sell to someone else or they wont sell. Not worth your effort thinking about or getting het up about

Crashy_Time

stayathomeandsave wrote: »

Buyers need to face reality. Sellers are in a far better position than buyers. If a seller is desperate they can sell their house at a price that moves it quickly. If they arent they can afford to sit around and wait for someone to value it as much as they do!

People who actually sell make the market though, the kite flyer sees his house drop in value as neighbouring sellers get realistic, and there is nothing he can do about it.

Davesnave

Crashy_Time wrote: »

People who actually sell make the market though, the kite flyer sees his house drop in value as neighbouring sellers get realistic, and there is nothing he can do about it.

There is something they can do, and that's wait. As they're 'kite flying,' it's no big deal

Anyone in my old road who just fancied moving in 2008 would have seen the falls and thought, "Blow that for a while!" so they'd have waited till 2013, when prices had recovered.

The guy who inherited the house we rented after selling in 2008 decided to let it, as it wasn't selling at his price. LR data shows that he sold it at that price in 2012.

shortcrust

Just face the fact you can’t afford the sort of houses you’ve been looking at and start looking at properties that are in your price range instead.

Seems to me that a more appropriate title for the thread would be ‘Buyer being unrealistic about pricing’.

jimmyjammy001

Just let someone else buy it overpriced and then come back here in a few years and laugh when they then create a thread that they can't sell it for what they brought it for because they overpaid, no doubt they wil try and blame it on something else for prices going down