How Can Sellers Reduce Prices If Sellers Wont Reduce Prices?

[cardiffone]

Theres a lot of talk on this forum to the tune of "if a house is not selling why not reduce your price"?

But in most scenarios those sellers are buying another house, a house that it self is overpriced, because that seller is trying to buy another house....that is overpriced etc etc.

So how does the price reduction work?

Is has to come from chain less owners, landlords and inheritance.

Those are the greedy people, they have nothing to loose by looking for the highest prices, and can wait till they find it, while people wanting to move are forced into high prices becasue of the greedy people keeping house prices up.

Therefore should there be a tax on empty houses, in order to force the greedies to sell quicker and lower?

Edited December 6, 2010 by cardiffone

[Damik]

Theres a lot of talk on this forum to the tune of "if a house is not selling why not reduce your price"?

But in most scenarios those sellers are buying another house, a house that it self is overpriced, because that seller is trying to buy another house....that is overpriced etc etc.

So how does the price reduction work?

Is has to come from chain less owners, landlords and inheritance.

Those are the greedy people, they have nothing to loose by looking for the highest prices, and can wait till they find it, while people wanting to move are forced into high prices becasue of the greedy people keeping house prices up.

Therefore should there be a tax on empty houses, in order to force the greedies to sell quicker and lower?

simple ... the bank valuation will come and show, how much the bank will give ... and it is going down every month ...

Edited December 6, 2010 by Damik

[long time lurking]

Theres a lot of talk on this forum to the tune of "if a house is not selling why not reduce your price"?

But in most scenarios those sellers are buying another house, a house that it self is overpriced, because that seller is trying to buy another house....that is overpriced etc etc.

So how does the price reduction work?

Is has to come from chain less owners, landlords and inheritance.

Those are the greedy people, they have nothing to loose by looking for the highest prices, and can wait till they find it, while people wanting to move are forced into high prices becasue of the greedy people keeping house prices up.

Therefore should there be a tax on empty houses, in order to force the greedies to sell quicker and lower?

I know some one in that position ,as the house they have made a offer on is in probate and their house has gone SSTC twice and fallen threw and looks like it is going to do it again ,they approached the vendor off the house in probate for a 10k{5%} drop so they could reduce their house by the same so the chain could complete but the answer was will not drop a penny ,as you say GREED and this have been going on for well over six months

[Blue Nose Bear]

Theres a lot of talk on this forum to the tune of "if a house is not selling why not reduce your price"?

But in most scenarios those sellers are buying another house, a house that it self is overpriced, because that seller is trying to buy another house....that is overpriced etc etc.

So how does the price reduction work?

Is has to come from chain less owners, landlords and inheritance.

Those are the greedy people, they have nothing to loose by looking for the highest prices, and can wait till they find it, while people wanting to move are forced into high prices becasue of the greedy people keeping house prices up.

Therefore should there be a tax on empty houses, in order to force the greedies to sell quicker and lower?

I'm afraid you have to wait until the penny drops.

This is whats happening regularly around my way

1. House comes to market 2007 price + 10%

2. House goes STC

3. 2 weeks later re-available and just sits there for a few weeks before being reduced by 2% i.e. Sellers waiting for a cash buyer willing to pay 20-25% more for their house than it's worth.

Good luck to them I say, hope they don't want to move anytime soon

[olliegog]

I have long held the belief that it is the vendors at the top who are stopping the price drops that are needed to get the market moving again. It is mostly the sub 200K houses that slash their prices - 10 to 15% off not unusual (and this is asking price) whereas in the 400K+ world there seems to be a delusion that 5 or 10K off will bring the punters in - because their house is worth it . Stalemate.

[PbroAgent]

Theres a lot of talk on this forum to the tune of "if a house is not selling why not reduce your price"?

But in most scenarios those sellers are buying another house, a house that it self is overpriced, because that seller is trying to buy another house....that is overpriced etc etc.

So how does the price reduction work?

Someone in the chain has to bite the bullet and it doesn't matter who. Once a house is priced correctly it will get interest, we will get an offer and we can work up the chain and try to persuade other vendors to take a lower figure due to the fact their buyer has had to take a drop.

Sometimes we can't do the deal because of greed, stupidity or negative equity, but most people are coming to the realisation that prices are falling, even if they don't want to drop their price first and are happy to talk turkey once there is an offer on theirs.

Edited December 6, 2010 by PbroAgent