TheCountOfNowhere Posted February 4, 2015 Author Share Posted February 4, 2015 (edited) One typical example of what I'm seeing.... Initial entry found, 12/08/14, £112,500 Price reduced, 17/10/14, £109,950 Price reduced 31/10/14, £104,500 Price changed 26/02/15 £112,500 Serious question.. is there any rational explanation at all why someone would do this? Yes, they are desperate greedy f**kwits. The obvious answer is usually the right one. Edited February 4, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
winkie Posted February 4, 2015 Share Posted February 4, 2015 What kind of fool.....? There was a time when we were down and outThere was a place when we were starting over.....whose sorry now? https://www.youtube.com/watch?v=_fxKKraNkm8 Quote Link to comment Share on other sites More sharing options...
Fromage Frais Posted February 4, 2015 Share Posted February 4, 2015 (edited) NR2 still going nuts On this road a vendor said no to 300k from me and took a 4 bed house of the market as no other interest at 335k in 2011/12 http://www.rightmove.co.uk/property-for-sale/property-50287565.html?premiumA=true http://www.rightmove.co.uk/property-for-sale/property-49849592.html All the properties I highlighted as being high priced and testing the market .... have gone sstc http://www.rightmove.co.uk/property-for-sale/property-33107613.html?premiumA=true http://www.rightmove.co.uk/property-for-sale/property-32956419.html?premiumA=true http://www.rightmove.co.uk/property-for-sale/property-33531447.html?premiumA=true http://www.rightmove.co.uk/property-for-sale/property-49256879.html http://www.rightmove.co.uk/property-for-sale/property-45882995.html?premiumA=true http://www.rightmove.co.uk/property-for-sale/property-33024384.html?premiumA=true http://www.rightmove.co.uk/property-for-sale/property-48983045.html So on face value transactions are down but the prices are up strongly still and the new listings are testing higher highs. Despite of obvious stimulation and bank bailouts I am now considered a financial imbecile by my wife and co horts... logically they are right at this moment in time. I get the same lines of two people on 50k etc etc but there are better roads that those around me mount pleasant, Abemarle road, town close, lime tree road eaton road etc etc with houses in the 500,600,700,000s + I just don't know how they do it .... so here is hoping 2015 will bring sanity. Edited February 4, 2015 by Fromage Frais Quote Link to comment Share on other sites More sharing options...
sam-albertson Posted February 4, 2015 Share Posted February 4, 2015 Here is a rational explanation: No offers when asking for £112,500, still no offers when asking for £109,950, so cut again. Then either: a) when asking for £104,500 started getting low offers - maybe 80/90k, so put the price up to signal an expectation of "sensible" offers the market may be, or be perceived to be, picking up again - either secular increase, or just recovering from the seasonal downturn that happens in the run up to Christmas. They could be bluffing of course. A speculative seller could trick buyers into thinking there is some interest by increasing the asking price. Quote Link to comment Share on other sites More sharing options...
nome Posted February 5, 2015 Share Posted February 5, 2015 Here is a rational explanation: No offers when asking for £112,500, still no offers when asking for £109,950, so cut again. Then either: a) when asking for £104,500 started getting low offers - maybe 80/90k, so put the price up to signal an expectation of "sensible" offers the market may be, or be perceived to be, picking up again - either secular increase, or just recovering from the seasonal downturn that happens in the run up to Christmas. They could be bluffing of course. A speculative seller could trick buyers into thinking there is some interest by increasing the asking price. I know the local area and market very well and there certainly isn't any kind of 'upturn' either real or percieved. So I think your second 'rational' explanation is more likely... i.e. they fancy themselves as some kind of marketing guru, or perhaps The Count is right and they're just desperate, greedy f***wits! It's a shame for them really, as I would have had some interest in it at £104k, but having seen what silly tactics they're prepared to deploy with their pricing 'strategy' it makes me question just what kind of a vendor they are and how difficult they would be to deal with... so I won't be pursuing this one! Quote Link to comment Share on other sites More sharing options...
jammin35 Posted February 5, 2015 Share Posted February 5, 2015 Recently I decided to buy a kayak for fishing. If you look on eBay you'll spot some for around the £300 mark, widely dismissed as tat. You'll also see some around the £900+ mark which are clearly the same kayaks. I think this is the same with EAs. New EA gets a call from a frustrated vendor and tells them if they price higher they'll get offers since people subconsciously see a higher value. Then comes phase 2 of the strategy.... My sister was persuaded to put her 3 bed ex council on the market for a ridiculous price. A week later, she receives an offer for £20k under the asking price. The catch: this person has allegedly not sold. Great news, says the estate agent, because they are really keen and - get this - "they are prepared to wait" - giving my sister time to find something really special. Of course, my sister accepted since she'd had no offers for a while. Six or so weeks later a very excited estate calls with the great news that they've had another offer from somebody who has already sold. It's £10k off the price that the other seller offered but hey, they can proceed. My brother in law and sister talk and decide to accept the offer. I'm actually pleased about this because they are a bunch of smug homeownerists. Now they are telling all their friends to put their house prices up so people see the value. The irony: they put their price up by £10k and reduced it by £30k. And you can bet the conversation between buyer and agent went something like this: "well they've already taken a £20k hit, I'm sure I can get them down another £10k". Quote Link to comment Share on other sites More sharing options...
shindigger Posted February 5, 2015 Share Posted February 5, 2015 (edited) http://www.barnardmarcusauctions.co.uk/Current_Auction.html Only 69% sold. Edited February 5, 2015 by shindigger Quote Link to comment Share on other sites More sharing options...
Samboy Posted February 11, 2015 Share Posted February 11, 2015 IN Hampshire there is absolutely nothing coming on the market, i've a search saved for under 250K primarily looking for a 3 bed detached and in the many years ive been looking ive never seen the market so quiet for new stock coming on. Im thinking everyone is waiting for the election in the hope they'll get a better deal if moving up the ponzi scheme when Labour and the commies in Scotland and Wales join forces. Doesnt explain why downsizers and people looking to cash out the market arent trying to sell though. Quote Link to comment Share on other sites More sharing options...
Ultra Fox Posted February 13, 2015 Share Posted February 13, 2015 (edited) Leeds June 2007 and my work colleagues are having a conversation along the following; "House prices only ever go up in the long term" "Oh yeah, always a sound investment" "You won't lose money" etc... Skip forward too today (Leeds - different work colleagues). Guess which conversation I've just heard. Edited February 13, 2015 by Ultra Fox Quote Link to comment Share on other sites More sharing options...
Timak Posted February 13, 2015 Share Posted February 13, 2015 The flat I warned my parents in law not to buy as an investment (for £260k last year) - that Venger always quotes as the ultimate example of malinvestment - has been valued at "a minimum" of £360k in Cambridge. It is a better version of this http://www.rightmove.co.uk/new-homes-for-sale/property-48332791.html How bleak is that! Both as a property and as a statement on the economy where this is what you get for a third of a million pounds! Quote Link to comment Share on other sites More sharing options...
Ultra Fox Posted February 13, 2015 Share Posted February 13, 2015 There is not even any pictures. Quote Link to comment Share on other sites More sharing options...
Timak Posted February 13, 2015 Share Posted February 13, 2015 There is not even any pictures. What do you expect for 1.5% commission! Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 13, 2015 Share Posted February 13, 2015 Leeds June 2007 and my work colleagues are having a conversation along the following; "House prices only ever go up in the long term" "Oh yeah, always a sound investment" "You won't lose money" etc... Skip forward too today (Leeds - different work colleagues). Guess which conversation I've just heard. I genuinely don't know. I've long stopped guessing. Quote Link to comment Share on other sites More sharing options...
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