hoping to sell

spurdog1

I'm Gloucestershire.

Ppl hoping for a big sell. Buyers see overpriced therefore don't look at. Properties appear to become "dead wood" (that is - Properties with a problem).

Nett result never looked at. I refer one property locally, thought he had gold dust, asking price £285K. Well yes it is good, currently still on market £240K. the average for properties in this area.

spurdog1

here's a question, "the prop you want says offers over £300K, are you naughty and offer £280K?

There is no right answer methinks

MobileSaver

spurdog1 said:

so they ask offers over £300, do you still put an offer of £280?

As the great man once said “You've gotta ask yourself one question: 'Do I feel lucky?' Well, do ya, punk?"

Some sellers won't care or perhaps even expect you to try it on. Other sellers will get the hump and won't take you seriously even if you subsequently offer over asking (at the back of their mind they'll assume you'll just try to drop the price days before exchange wasting weeks/months of their time.) For what it's worth I suspect most sellers with an "offers over" price would be in the latter camp.

So it's a gamble and all comes down to how much you really want a particular property. If you have loads of similar choices and don't really care which one you get then you've little to lose. On the other hand if this is the house you really want then low-balling could be a disastrous mistake.

Herzlos

spurdog1 said:

here's a question, "the prop you want says offers over £300K, are you naughty and offer £280K?

Where's the harm? The worst they can do is say no. I've viewed a couple of places within haggling range of being out of budget

ReadySteadyPop

Herzlos said:

I think the reductions are a symptom of the English house selling practise where everyone expects to buy for somewhere aroud 10% under asking price, which means people will over-inflate the price and then reduce.

Up in Scotland, houses are expected to sell for around 10% over the asking price, so sellers tend to set the asking price lower to get their target figure.

It's compounded somewhat by estate agents over-valuing property to get the contract and then reducing to a more realistic price later. Of course most people will pick the agent that reckons they can sell for £350k over the agent that thinks it'll go for £320k, even if it ultimately goes for £320k anyway.


None of that has any bearing on this legendary house price crash, though. Prices seem to be trending upwards even if taking longer to sell.

There is more supply than ever though, meaning that a lot of people can`t sell.

newsgroupmonkey_

ReadySteadyPop said:

Herzlos said:

I think the reductions are a symptom of the English house selling practise where everyone expects to buy for somewhere aroud 10% under asking price, which means people will over-inflate the price and then reduce.

Up in Scotland, houses are expected to sell for around 10% over the asking price, so sellers tend to set the asking price lower to get their target figure.

It's compounded somewhat by estate agents over-valuing property to get the contract and then reducing to a more realistic price later. Of course most people will pick the agent that reckons they can sell for £350k over the agent that thinks it'll go for £320k, even if it ultimately goes for £320k anyway.


None of that has any bearing on this legendary house price crash, though. Prices seem to be trending upwards even if taking longer to sell.

There is more supply than ever though, meaning that a lot of people can`t sell.

As I pointed out to you the other day, there's a huge lack of housing in the UK, particularly on the cheaper end.

Having a million houses on the market at one time doesn't mean that they're empty, unsellable houses.
Those houses are being lived in and people are looking to move.

I'm awaiting your house price crash that you've been predicting for 22 (and counting) years.

newsgroupmonkey_

spurdog1 said:

here's a question, "the prop you want says offers over £300K, are you naughty and offer £280K?

There is no right answer methinks

See, that's a tough one. We had our house up on the market for £325k hoping for somewhere around £315-320k.

We'd only bought it 2 years previously for £260k.
Someone offered £290k and said we should think ourselves fortunate to be making a £30k profit in just 2 years.

We told the EA that we weren't prepared to negotiate with these people and to ignore any further offers from them. Perhaps we could have bitten off our nose to spite our face.

As it happened, someone offered £330k a day later.

ReadySteadyPop

spurdog1 said:

So far this year plenty gone on market at inflated prices, few selling. However prices are reducing. Are we (the UK) not looking to buy/sell atm?

I sense house prices falling.

How big are the price drops that you are seeing?

spurdog1

How big are the price drops that you are seeing?

Prices 230, 240. One wss 285, now 240. This week a 295, new ordinary kitchen and bathroom. But not worth 295 ever atm

newsgroupmonkey_

spurdog1 said:

How big are the price drops that you are seeing?

Prices 230, 240. One wss 285, now 240. This week a 295, new ordinary kitchen and bathroom. But not worth 295 ever atm

Crashy is looking for evidence of a house price crash.

What you're saying is that people are putting properties on the market which are way over the real worth, but they're going for generally what they should.

Don't bite.

He sold his house in 2003 waiting for a pending price crash and moved into a Bedsit. He's been there ever since, waiting until he can afford somewhere to live.