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catmandu

Sellers Struggling

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I quite enjoy reading the MSE forums - there's a much wider range of people than here on HPC - buyers, sellers, bulls, bears - basically people in lots of different situations. Because of this, I feel it gives a good overview of how the market is going.

Recently I've noticed a really big jump in threads from people who can't sell their houses - even after some reasonable discounting. As with much of the populations, many were naive when setting initial price, but have been worn down into realism by time on market. I bear these people no malice, but I thought it would be interesting for HPCers to read these threads - there are far more of these threads than even just 3 months ago. The below are active threads today:

http://forums.moneysavingexpert.com/showthread.php?t=3491647

fed up now, won't sell

"I think i have given up hope of ever selling"

http://forums.moneysavingexpert.com/showthread.php?t=3491545

Trying to sell house......really getting worn down now...

We Have had our house on the market for 14 weeks

http://forums.moneysavingexpert.com/showthread.php?t=3486277

Reason for lack of viewings...

we can't afford to sell for less

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Not far from me house on the market three days then sold subject to contract, 14 days later the sale fell through....that is how the market is at the moment....got all the time in the world price it at your price and sit on it....one day will come lucky...more urgency required, reduce your price to sell.....not exactly rocket science is it. ;)

The only thing that puts me off a little is the cluttered kitchen. Remove everything off of every surface and get another picture taken.

Just my opinion .

How to make a small space larger.....about sums it up.....

....like saying how to make an expensive place look cheaper. :blink:

Edited by winkie

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I was in Mumbles EA today where there was a woman on the phone complaining that, because she got an offer of full asking price with her first viewing within a week of it coming on the market, that the EA had UNDER-valued it.

She was telling the EA that she would sue if the second viewer, today, also offered the full asking price.

It was a bizarre conversation to over-hear knowing how dire the market generally is.

You cannot make that stuff up.

Edited by The Masked Tulip

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I was in Mumbles EA today where there was a woman on the phone complaining that, because she got an offer of full asking price with her first viewing within a week of it coming on the market, that the EA had UNDER-valued it.

She was telling the EA that she would sue if the second viewer, today, also offered the full asking price.

You cannot make that stuff up.

Its a psychological thing.....they like the house, new on the market, don't know the meaning of what market value is, so offer/pay the price.......that same person, same house, same price......been on the market six months without a sale, can guarantee they would not look at it twice.......no one else wants it, no one else will pay the price....can't be that nice, can't be worth it. ;)

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Its a psychological thing.....they like the house, new on the market, don't know the meaning of what market value is, so offer/pay the price.......that same person, same house, same price......been on the market six months without a sale, can guarantee they would not look at it twice.......no one else wants it, no one else will pay the price....can't be that nice, can't be worth it. ;)

Possibly... and the seller might suddenly find that the buyer they have is perhaps naive about the current state of the market... perhaps will be unable to get a mortgage or finds that the surveyor down-values it anyway.... In a month or so that seller might be grateful for a viewing.

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Possibly... and the seller might suddenly find that the buyer they have is perhaps naive about the current state of the market... perhaps will be unable to get a mortgage or finds that the surveyor down-values it anyway.... In a month or so that seller might be grateful for a viewing.

An offer is just that, anyone can make an offer, doesn't mean they have the ability or means to buy.......if a person relies on selling to buy, no good making an offer on anything till they have a proceedable verified offer on their own....otherwise the chain comes tumbling down....yet again.....next time the price might have to be less. ;)

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There are some people who believe the price the EA tells them it'll sell at is a guaranteed amount.

Sometimes people have their own ideas about what they think/would like it to be worth......most other people, sometimes the estate agent think something quite different........in that case the house is not for sale. ;)

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An offer is just that, anyone can make an offer, doesn't mean they have the ability or means to buy.......if a person relies on selling to buy, no good making an offer on anything till they have a proceedable verified offer on their own....otherwise the chain comes tumbling down....yet again.....next time the price might have to be less. ;)

Overheard another EA today who was talking to a seller who had just received an offer on her house. The offer was acceptable but declined because the seller had not found somewhere else to buy. The EA was trying to point out how dire the market is and that proceedable buyers are very rare. Failed.

The EA then spoke with another seller to inform her that the buyer who had made an offer would not offer any more. Seller was not happy.

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Overheard another EA today who was talking to a seller who had just received an offer on her house. The offer was acceptable but declined because the seller had not found somewhere else to buy. The EA was trying to point out how dire the market is and that proceedable buyers are very rare. Failed.

The EA then spoke with another seller to inform her that the buyer who had made an offer would not offer any more. Seller was not happy.

Buying a house is a doddle, comparing to selling and buying......how many now sell then rent or lodge in between....in a falling market makes much sense.....time to stop and stare taking it all in to reach a rational, sensible logical decision...a cash buyer..... it is not as if you are missing the boat. :D

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I was in Mumbles EA today where there was a woman on the phone complaining that, because she got an offer of full asking price with her first viewing within a week of it coming on the market, that the EA had UNDER-valued it.

She was telling the EA that she would sue if the second viewer, today, also offered the full asking price.

It was a bizarre conversation to over-hear knowing how dire the market generally is.

You cannot make that stuff up.

Heads I win tales you lose.

This is one of those situations where the estate agent cannot win . Could be more luck than anything else but that one buyer was there at the right time when the right house came up and they wanted it so offered full asking . So the seller then thinks it is undervalued .

Remember a case like this with a guy I worked with who phoned an estate agent to sell his place one day , well the agent had a buyer on his books who had lost out on a very similar property in the same street a few days prior . So without taking any pictures , or printing the particulars the agent got onto this buyer who went straight around to the house a few hours after the agent had taken the instruction and offerd full asking. The vendor did not have a problem with the price he thought that was correct but took exception to paying the full 1.5% agents fee as it had been such an easy sale.

No end of debate raged for a few days untill the agent agreed to drop the fee to 1%. He did argue that he had costs to run his office and due to running that office he met and made contacts like this buyer who did what the seller wanted and bought the house. He also asked the seller if he would have been happier to wait six weeks and or drop his price. Must admit I agree with the agent on this ,

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Love this comment on the first thread

It doesn't look awful by any means - similar too ours - I think you will just have to be patient! crappy advice I know - with very few viewings you do get despondant and in my house we have an untidy son complete with his "surprise" puppy which means every sparse viewing we do get means manic housework (£20 on flowers and room air fresheners - you know the score!) usually resulting in lukewarm feedback, "oh its lovely BUT; a bit near the main road" or other such comments which we can do nothing to remedy.

Our last house was a beauty with loads to offer but it still took over a year to go. The home website mentioned above gives a 156 day result but living round here and seeing the same properties up month after month I beg to differ. - Little is moving unless massively below market value.

Good Luck, chin up - just takes that one person to see it and love it like you did!

Surely if its selling then that is the market value not below it? lol!

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Love this comment on the first thread

Surely if its selling then that is the market value not below it? lol!

In the same way that food, gas, electric, clothing, insurance and transportation are always seeing above inflation rises year after year.

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Reason for lack of viewings...

we can't afford to sell for less

Those are always the best threads. Trying to sell for £30k more than equivalent properties in the area, but because they 'can't afford to take less' they refuse to drop the price and instead delude themselves into thinking a bit of decluttering and some twigs will get them the price they want.

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In the same way that food, gas, electric, clothing, insurance and transportation are always seeing above inflation rises year after year.

Erm ... try again there. Clothing at least is cheaper now than 30 years ago in £ terms, let alone index-linked.

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The last one is funny. They ask 'is it the price'

All the while an identical flat is for sale for £60k, while theres is on at £90k.

Even the £60k one (which itself is unsold, so probably still overpriced) says only "£15k discount" from their usual optimistic 'market price'

How could any agent even consider taking them on at £90k???

http://www.rightmove.co.uk/property-for-sale/property-31280209.html

Its a tiny flat in a medway town. £20k is about right.

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Oh but if you happen to be talking to EAs round my way in Bournemouth they will tell you that they are incredibly busy and places are flying off the shelves........ dunno the rest as I have generally put the phone down by now :huh:

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Erm ... try again there. Clothing at least is cheaper now than 30 years ago in £ terms, let alone index-linked.

http://www.businessweek.com/news/2011-09-13/u-k-inflation-accelerates-to-4-5-as-clothes-prices-jump.html

OK, they were and still are not that expensive compared to other stuff (thank goodness for child labour), but they went up above inflation none the less.

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I added a couple comments. They seem very emotional about it - all they need to do is drop the price, duh.

Crikey, read this one:

http://forums.moneysavingexpert.com/showthread.php?t=3492081

:s

This thread sums up just about everything that is wrong with the BLT 'boom'. People with no experience becoming LL's and even worse seem totally clueless regarding the risks and responsibilities this involves.

Someone should forward that link to Grant Schapps and ask why people choosing to rent should be put at the mercy of morons who very obviously do not know what they are doing.... :o

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This thread sums up just about everything that is wrong with the BLT 'boom'. People with no experience becoming LL's and even worse seem totally clueless regarding the risks and responsibilities this involves.

Someone should forward that link to Grant Schapps and ask why people choosing to rent should be put at the mercy of morons who very obviously do not know what they are doing.... :o

I dunno, I quite warmed to "mrbadexample"! Looks like he'll be a decent landlord.

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I dunno, I quite warmed to "mrbadexample"! Looks like he'll be a decent landlord.

Very possibly but for every 'mrbadexample' there are many thousands of money grabbing idiots who think that being a LL involves nothing more than collecting the rent and acting as a total ***t the the poor unfortunate who is living in their 'investment'.

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  • 338 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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