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The Masked Tulip

40K Up On Pre-Christmas Asking Price

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Was just browsing in an EA's window and noticed that a house in Swansea that came on the market back last Summer... for 400K asking... and was 400K asking up until Christmas Eve... is now.... wait for it... on for an asking price of 440K.

The EA's office has been closed, I believe, from Christmas Eve up until today.

I had a feeling that this would become the game in 2011.

house-facepalm.jpg

Edit: For stupid read greedy.

Edited by The Masked Tulip

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Was just browsing in an EA's window and noticed that a house in Swansea that came on the market back last Summer... for 400K asking... and was 400K asking up until Christmas Eve... is now.... wait for it... on for an asking price of 440K.

The EA's office has been closed, I believe, from Christmas Eve up until today.

What's wrong with this? - house prices go up at 10% a year - known immutable fact - and it was 400k last year, we are now into a new year so clearly its worth 440k. Tell you what - since I've been trying to sell it for 6months I'll let you have it at a discount and allow you to pay me 430k for it. :unsure::rolleyes:

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Dont tell us, tell the agent. Give them the implication that you are looking to buy and have been waiting for prices to come down 5% or so, and now realise that there is no further point in looking in this agents window. Tell them directly that for every time they publicly do something completely stupid like this, the consequence is that buyers will lose trust / belief in them.

They will be hoping that no-one has noticed. If people start to get in their faces, they will be far more reluctant to hike prices of unsold stock.

Surely they must feel crappy that they cannot manage their vendor. At some point they've got to start cutting a few free. And when the vendor finds no-one wants to advertise at their price.......

Edited by Caveat Mortgagor

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Was just browsing in an EA's window and noticed that a house in Swansea that came on the market back last Summer... for 400K asking... and was 400K asking up until Christmas Eve... is now.... wait for it... on for an asking price of 440K.

The EA's office has been closed, I believe, from Christmas Eve up until today.

I had a feeling that this would become the game in 2011.

house-facepalm.jpg

Edit: For stupid read greedy.

I have noticed one of these in my area also. A four bed semi listed for 440k which was for sale seven months ago for 400k.

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Dont tell us, tell the agent. Give them the implication that you are looking to buy and have been waiting for prices to come down 5% or so, and now realise that there is no further point in looking in this agents window. Tell them directly that for every time they publicly do something completely stupid like this, the consequence is that buyers will lose trust / belief in them.

They will be hoping that no-one has noticed. If people start to get in their faces, they will be far more reluctant to hike prices of unsold stock.

Surely they must feel crappy that they cannot manage their vendor. At some point they've got to start cutting a few free. And when the vendor finds no-one wants to advertise at their price.......

Been there, done that for a year - has no affect.

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Been there, done that for a year - has no affect.

If thats true, then maybe change your tactics.

Have conversations with them when (if) they have couples in discussing properties. Its gotta be maximum effect for the conversation that goes

'Hey, Dominic, i see you've added £40k to that tatty house you couldnt sell. Whats that all about? Seems the vendor isnt yet ready to sell and is jerking you about. Who do they think is a fool, you or your potential buyers?'

Oh, and forget the cosy chats. For maximum effect this should be top of the voice across the office as you walk in!

Edited by Caveat Mortgagor

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If thats true, then maybe change your tactics.

Have your cosy little chats with them when (if) they have couples in discussing properties. Its gotta be maximum effect for the conversation that goes

'Hey, Dominic, i see you've added £40k to that tatty house you couldnt sell. Whats that all about? Seems the vendor isnt yet ready to sell and is jerking you about. Who do they think is a fool, you or your potential buyers?'

Been there, done that - oddly, in all my EA visits last year I rarely saw other people in various offices. Think I could count on two hands the numbers I saw in offices throughout the whole of last year.

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History proves that house prices go up £1k per month...on the market six months worth £6k more, I thought everyone knew that...tomorrow we will all be millionaires. ;)

Edit to add: plus you must always add 5% to 10% on top of the price you want, makes the buyer feel like they have got a bargain, :D and shafted you good and proper.

Edited by winkie

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Was just browsing in an EA's window and noticed that a house in Swansea that came on the market back last Summer... for 400K asking... and was 400K asking up until Christmas Eve... is now.... wait for it... on for an asking price of 440K.

The EA's office has been closed, I believe, from Christmas Eve up until today.

I had a feeling that this would become the game in 2011.

house-facepalm.jpg

Edit: For stupid read greedy.

Looks like neither the estate agent or the seller want to sell, you watch the price drop though when interest rates go up ;)

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Was just browsing in an EA's window and noticed that a house in Swansea that came on the market back last Summer... for 400K asking... and was 400K asking up until Christmas Eve... is now.... wait for it... on for an asking price of 440K.

The EA's office has been closed, I believe, from Christmas Eve up until today.

I had a feeling that this would become the game in 2011.

house-facepalm.jpg

Edit: For stupid read greedy.

Equally there are vendors realising the game is up

http://www.rightmove.co.uk/property-for-sale/property-27483163.html

reduced 100k

(TMT- I think your focussing on the negative and I dont think the fundamentals in Wales are any more stable than oop North.)

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Interesting. How long has it been on for?

Since Sep 1st 2010.

reduced 25k at some point back end of last year and now by a further 100k (stupidly overpriced to start with of course!)

Obviously that rare breed of someone who wants to sell.

Or (and this is my more optimistic side) someone who has read all the papers over the weekend and believes Schapps when he says prices will not be increasing so may as well flog now...

The part I like is there a load of similar houses for sale on streets similar to these and this one will set the price assuming it goes quickly at 350k.

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If something costs more, it's better, and someone will pay more for it. It's simple housemarket economics, durgh.

This canny Homeowner has just made an extra £40k on his investment by making it's price better, by a whopping £40k, kerching! he's in the money,.

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7 properties added to rightmove in Coventry in the last 24 hours. All of them are previous listings with a price reduction. The ones that have been on longest have the largest reductions.

Thankfully, sense seems to be slowly creeping into the local market here!

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The part I like is there a load of similar houses for sale on streets similar to these and this one will set the price assuming it goes quickly at 350k.

If it sells quickly the owners of other similar houses will probably pretend it was never on the market. Now if it sticks around at £350k they won't be able to ignore it and it will induce even more panic at the thought that the true valuation should be even lower! :lol:

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Was just browsing in an EA's window and noticed that a house in Swansea that came on the market back last Summer... for 400K asking... and was 400K asking up until Christmas Eve... is now.... wait for it... on for an asking price of 440K.

The EA's office has been closed, I believe, from Christmas Eve up until today.

I had a feeling that this would become the game in 2011.

Edit: For stupid read greedy.

TMT - you asked for my real life experiences, and yes, I sucessfully talked a vendor out of a price increase this morning. Strike 1 for me! B)

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TMT - you asked for my real life experiences, and yes, I sucessfully talked a vendor out of a price increase this morning. Strike 1 for me! B)

Why did the vendor think that a price increase was justified?

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Why did the vendor think that a price increase was justified?

Because there were other over priced properties in the same location and the vendor was using them to judge the value of their house.

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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