Told wont accept anything less then £200k on a 200k house!

PRINCESSKERRY

Thanks for all the responses, I appreciate the sellers do not have to sell and as far as frustration is going obviously the vendors do not know how I'm feeling.
I am an incredibly calm and laid back person but I have to admit I am finding house moving stressful.
As far as falling in love with the houses goes, we haven't there are three we are interested in we didn't expect two to be so unreceptive.
Also what worries me is the fact one is on with the same agent I have just sold with they overvalued my house at the time so I know the same would have happened here too.
I am just trying to be realistic and dont want to be stung by an overpriced property.
I am reading on here constantly and watching Rightmove daily so you get a general idea of what they should be priced at.
Likewise both agents stayed until almost 6.40pm as I'm sure they thought there vendors would accept an offer, they admitted they were shocked when a offer couldn't be reached.
Both vendors wouldn't say what they would except and the estate agents have gauged they are looking for over 200k close to asking price. I could pay this but where will it get me.
One of the estate agents even told me bluntly I was wasting my time as there are the same houses out there cheaper when we got into a discussion.
It seems that down here even 5% under offers aren't being taken massively seriously.
I hope like others have noted by walking away now it may give the two vendors some chance to think.
Both have expressed keeness to sell but as they have had little interest (admittance from estate agents) and are happy to have been on the market already for such a long time I feel they may still be on there for quite a few months to go.

soappie

mpsavuk wrote: »

Denial is not just a river in Egypt!

:rotfl::rotfl::rotfl::rotfl:

Thank you, that's given me a good chuckle this morning - I haven't heard that one before!

:rotfl::rotfl::rotfl::rotfl:

poppysarah

Fixed price eh?

My property bee found this delight.

2nd May 2008

• Price changed: from '£85,000 (Fixed Price)' to '£83,950 (Fixed Price)'

PRINCESSKERRY

arthur_dent wrote: »

That may well be the case, but if you are looking to buy now that does not automatically entitle to you that discount because it may (probably will) happen.

payless wrote: »

some people want to sell, other people need to sell- its the latter that will look at offers.

House sale prices have fallen again, but its based on a much smaller numbers- ie mainly those that need to sell , in turn thats those likely to accept lower offers, in turn the "house price average" is based on these desperate sellers

vikingaero wrote: »

I agree with you Arthur. We're in the first phase of any real meaningful drop in property prices and a lot of buyers seem to be forecasting total impending doom and want the full monty now.

I agree with these posts and I am not on here because I believe prices are going to drop 40 - 50% as if I'm honest I dont think they will drop that far. I am also not holding out for big discounts, like I said I dont want to overpay for a house I would think after the length of time these houses have been on the market and the fact they are both more expensive then anything has ever sold in the street it is not unreasonable to think they should be taking offers.
Likewise I am not a desperate seller, I did not need to sell realistically we are very happy where we are we would only need to move in the next 3 years as my eldest is 2 so I would want him settled in another area before going to sell.
The reason I was realistic about pricing my house is I didn't want to face what vendors are facing now, I wanted to price it to sell and obviously I did though my house was not underpriced for sure people just knew it was at a sensible level to start with.
If I had stuck to the figure the estate agents had gave me I still wouldn't have sold now, of that I am very sure.

Incisor

PRINCESSKERRY wrote: »

One of the estate agents even told me bluntly I was wasting my time as there are the same houses out there cheaper when we got into a discussion.

Interesting. Maybe he learnt a lesson from last time, that the quicker the market comes to terms with a correction, the quicker the market gets moving again, so he feels that this vendor needs to see you walk away?

SquatNow

Incisor wrote: »

Interesting. Maybe he learnt a lesson from last time, that the quicker the market comes to terms with a correction, the quicker the market gets moving again, so he feels that this vendor needs to see you walk away?

Possibly the EA is fed up with the vendor wasting his time.

Expect to see EAs telling vendors to drop prices by 10% or shove off in the next few weeks.

EAs are paid a &age per transaction... if transactions stop, they don't get paid.

They had an interest in talking the prices up, now it's in their interest to talk prices down.

walshster

Its catch 22, if the vendor accepts the lower offer then house prices drop in the area but if they don't accept the offer on the table they could be waiting a long time for another one, the days of demand outstripping supply are long behind us!

katieowl_2

SquatNow wrote: »

Possibly the EA is fed up with the vendor wasting his time.

Expect to see EAs telling vendors to drop prices by 10% or shove off in the next few weeks.

EAs are paid a &age per transaction... if transactions stop, they don't get paid.

They had an interest in talking the prices up, now it's in their interest to talk prices down.

Interesting....now I have my house on the market, and I did get a good offer which was accepted by us, but my buyers buyer pulled out, and now our buyer can't proceed with the sale. We are now back on the market. I've suggested to my Estate Agent twice, that we drop the price, and they are saying "Don't do it" ???

First off they say my property is unique and shouldn't be undersold, and they are also convinced that my buyers are going to manage to sell their Half Million Pound flat in central london, and come rushing back to us (they are downsizing LOL!) IYHO Are they being naive??? They say the phone isn't ringing at all, so like you say, I am surprised that they aren't telling me to drop?

I'm pretty desperate to sell, as I want to be reinstalled somewhere else before school starts back in September...by my mates reckoning of his quickest ever sale/purchase taking 8 weeks, I need to sell by the 8th July.

This is all WAY too stressful for me! Anyone want to buy a 'unique' property in Sydenham?

Regards

Kate

PRINCESSKERRY

katieowl wrote: »

Interesting....now I have my house on the market, and I did get a good offer which was accepted by us, but my buyers buyer pulled out, and now our buyer can't proceed with the sale. We are now back on the market. I've suggested to my Estate Agent twice, that we drop the price, and they are saying "Don't do it" ???

First off they say my property is unique and shouldn't be undersold, and they are also convinced that my buyers are going to manage to sell their Half Million Pound flat in central london, and come rushing back to us (they are downsizing LOL!) IYHO Are they being naive??? They say the phone isn't ringing at all, so like you say, I am surprised that they aren't telling me to drop?

I'm pretty desperate to sell, as I want to be reinstalled somewhere else before school starts back in September...by my mates reckoning of his quickest ever sale/purchase taking 8 weeks, I need to sell by the 8th July.

This is all WAY too stressful for me! Anyone want to buy a 'unique' property in Sydenham?

Regards

Kate

I would say Kate if you are getting viewers at the price you are on now it's probably a fair price or not far off.
But if these viewers are not coming back for second viewings and subsequently offering then drop your price.
My agent advised me not to drop my price but I did within weeks of being on the market, I was watching rightmove daily and more ''similar'' properties were coming on the market daily at similar prices so therefore to stand out I wanted to be more competitively priced then the others.
It paid off as my second viewer bought, I had two viewings in total. If I'm honest if the second viewers hadn't offered I was considering dropping again but only held back as I wanted out with my estate agents luckily for me someone was driving past and rung to get a viewing.
I am finding daily I can get up to 12 phone calls or answer machine messages not to mention the countless emails. The only people that are not constantly updating me with new properties, viewings etc are funnily enough the EA's I sold through.
I am being told constantly that people are still viewing though not as many, but there are only a few proceedable hence why they openly admit they will be constantly contacting me in the hope I buy from them.

katieowl_2

We had a flurry of viewers when it first went on - the last of which put in the offer. We've a had no more interest since it went back on the market.

It's difficult to make a direct comparison on my property.

You can get a house locally (not in 'the best road' in the area) for the price of our flat, but sq. ft. it will be a lot smaller, and I am also selling the freehold...so ultimately value for money - I am less than a house in the same road?? I was going to see out this weekend (no viewings booked) then get another EA in for a 2nd valuation. We had three valuation when we first started the process of getting ready to sell, but I went with this agent, as I have a good relationship with them over somebody elses sale, that I had a lot of liason with (the flat upstairs) I thought it might be worth while getting another opinion at the current market price.

I have a lot of equity in the property - I can afford to take a drop, but not a huge one - what I am selling has to buy me a house in the right area outright, as we are making this sale to get rid of the remains of the mortgage. My OH's future work situation is an unknown factor, so we can't have even a small mortgage. The property we buy needs to be capable of bringing in it's own income... (we are moving to a touristy area of Wales)

WHo were you selling with? 12 messages a day would make me feel a bit more positive!!!!

Regards

Kate