As someone who is selling and buying (I wanted to go into rented for a little while but she who should be obeyed wasn't having any of it) am finding these "market adjustments" a complete pain in the 'arris.
Now, I'm all for the market adjusting so first time buyer age isn't approaching 40, so we had our houe valued at almost 20% less than we (almost) sold it for in 2008. We have made some improvements such as 20' x 20' garage/workshop, recarpeted and decorated about 18 months ago keeping a few staff at laura ashley employed I think - but that's not my area. 3 hours later, that evening, we sold it. Must just be right place, right time - A son of someone who lives on the road who wants the house, and a sensible price. We snatched their hand off and they seemed happy.
Now the problem we face is the unrealistic sellers.
One house we liked, which has been on the market over 2 years and not reduced at all in that time, is not budging on price after we put an offer in 25K under asking. A very generous offer in my book.
The other one we liked, an inheritance house, is on for 20K more than one two doors away sold for last month and 35K more than next door sold for last month. Sounded out the agent and they're instructed that they'll only consider offers of <10K under asking. Looks like it's a waiting game, with a market made up of a spectrum of overpriced to sensibly priced houses - it makes life quite hard as a buyer.
So, why aren't the agents chucking out they over priced stuff so they can concentrate on the stuff that sells?
Now, I'm all for the market adjusting so first time buyer age isn't approaching 40, so we had our houe valued at almost 20% less than we (almost) sold it for in 2008. We have made some improvements such as 20' x 20' garage/workshop, recarpeted and decorated about 18 months ago keeping a few staff at laura ashley employed I think - but that's not my area. 3 hours later, that evening, we sold it. Must just be right place, right time - A son of someone who lives on the road who wants the house, and a sensible price. We snatched their hand off and they seemed happy.
Now the problem we face is the unrealistic sellers.
One house we liked, which has been on the market over 2 years and not reduced at all in that time, is not budging on price after we put an offer in 25K under asking. A very generous offer in my book.
The other one we liked, an inheritance house, is on for 20K more than one two doors away sold for last month and 35K more than next door sold for last month. Sounded out the agent and they're instructed that they'll only consider offers of <10K under asking. Looks like it's a waiting game, with a market made up of a spectrum of overpriced to sensibly priced houses - it makes life quite hard as a buyer.
So, why aren't the agents chucking out they over priced stuff so they can concentrate on the stuff that sells?
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