Why All The Nerves?

[tomandlu]

With the exception of forced sales, it strikes me that sellers are being perfectly rational. Why offer a property at below what you *might* get for it? Assuming that you're either up-sizing or down-sizing, you are going to have to deal with other sellers, who also will be expecting the best value for their properties.

What I'm saying is that it's not necessarily delusional to ask for an unreasonably high amount for a property. The only really dumb thing to be doing right now is to buy as a FTB - such a shame that dumbness and FTBishness are, demographically, linked.

I don't think sellers either need or want prices to return to the heights of 2007, but leading the charge into lower prices is not a rational thing to do - they'll be selling cheap and buying high assuming that they're not going into STR (which they've probably left a bit late).

[Haventaclue]

With the exception of forced sales, it strikes me that sellers are being perfectly rational. Why offer a property at below what you *might* get for it? Assuming that you're either up-sizing or down-sizing, you are going to have to deal with other sellers, who also will be expecting the best value for their properties.

What I'm saying is that it's not necessarily delusional to ask for an unreasonably high amount for a property. The only really dumb thing to be doing right now is to buy as a FTB - such a shame that dumbness and FTBishness are, demographically, linked.

I don't think sellers either need or want prices to return to the heights of 2007, but leading the charge into lower prices is not a rational thing to do - they'll be selling cheap and buying high assuming that they're not going into STR (which they've probably left a bit late).

Exactly. Why would anyone jump off the 1% above baserate tracker train....................? And as 50% of mortgages are on trackers its madness to consider re-financing. Bit like paying off your 2.5% student loan before your 20% credit card. Bears that want sales will need a major hike in IRs to force it, and that I think youll find is, cutting your nose off to spite your face..................