Rightmove asking prices UP +1.2%

EdInvestor

clobber wrote: »

I dunno, I reckon I am seeing a few bunged on at inflated prices in anticipation of having to reduce.

It's a normal marketing approach.Most houses are marketed a bit above the realistic price in normal times to enable the agent to negotiate a bit off, so the buyer feels he has got a reasonable deal. If buyers are being silly and wanting 20% off etc, expect the premium to arise to accommodate them.

Nenen

How about this one then?
http://www.rightmove.co.uk/viewdetails-21165167.rsp?pa_n=3&tr_t=buy

17th May 2008

• Price changed: from '£229,995' to '£241,950'

6th May 2008

• Initial entry found.

How can anyone seriously think that putting the price UP :eek: almost £12,000 (over 5%) after 11 days on the market will help it to sell? The only thing I can think of is that the EA made a mistake in the entry on RM and it has taken 11 days to correct.... or can anyone offer another explanation for this increase please?


Mind you, this was the only price increase in the CB1 postcode area this week.... against about 35 drops! :j:j:j

(thanks to m00m00 who is working her stats magic on this area for me)...... only 4 months ago all my colleagues were telling me, "HPs will never drop in Cambridge"!

m00m00

m00m00 is a he
second time you've made that mistake

Nenen

m00m00 wrote: »

m00m00 is a he
second time you've made that mistake

sorry m00m00 it's because you're so kind and clever.... I just revert to thinking that must make you a woman!

Zammo

Crash cancelled, soft landing imminent.

:money:

PasturesNew

Nenen wrote: »

How about this one then?
http://www.rightmove.co.uk/viewdetails-21165167.rsp?pa_n=3&tr_t=buy

17th May 2008

• Price changed: from '£229,995' to '£241,950'

6th May 2008

• Initial entry found.

How can anyone seriously think that putting the price UP :eek: almost £12,000 (over 5%) after 11 days on the market will help it to sell? The only thing I can think of is that the EA made a mistake in the entry on RM and it has taken 11 days to correct.... or can anyone offer another explanation for this increase please?


Mind you, this was the only price increase in the CB1 postcode area this week.... against about 35 drops! :j:j:j

(thanks to m00m00 who is working her stats magic on this area for me)...... only 4 months ago all my colleagues were telling me, "HPs will never drop in Cambridge"!

Hobart Road used to be a right scabby dive when I lived down that way.

My cousin lived there with her scabby other half and their filthy unkempt clutch of children.

epz_2

correct me if im wrong but arnt asking prices pointless, its the only thing that matters is the price people pay.

asking prices could be up as EA's are over valuing so buyers think they get a better discount or more likely owners at the bottom of the ladder are hanging off selling as they think the prices higher up will fall so why move now.

BiggaThanBen

This should be in response to buyers making very low offers .. dont think this will work tough. I personally like this one, a flat, about 1/2 year on the market:

# Price changed: from '£250,000' to '£275,000'
# Status changed: from 'Under offer' to 'Available'
# Status changed: from 'Sold STC' to 'Under offer'
# Status changed: from 'Under offer' to 'Sold STC'
# Status changed: from 'Available' to 'Under offer'
# Initial entry found.

The BTLer is also trying to rent it out at £1200 (similar but refurbished flats in nearby blocks are being offered at circa £900).

He must be in agony ...

Generali

epz wrote: »

correct me if im wrong but arnt asking prices pointless, its the only thing that matters is the price people pay.

asking prices could be up as EA's are over valuing so buyers think they get a better discount or more likely owners at the bottom of the ladder are hanging off selling as they think the prices higher up will fall so why move now.

Unfortunately, Rightmove are pretty unforthcoming about the methodology they use so I can't say whether or not the index is mix adjusted which would overcome that problem. My suspicion is that it would be as a simple average would be so clearly flawed. That's not the same thing as saying it is mix adjusted of course!

m00m00

we have a winner in the race to 10% deposit paid

Price changed: from '£104,950' to '£114,950'

Brief Description changed: 10% DEPOSIT & LEGAL FEES PAID BY VENDOR.

http://www.rightmove.co.uk/viewdetails-20124812.rsp?pa_n=19&tr_t=buy