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Thread: Are home owners in denial?

  1. #1

    Are home owners in denial?

    Everywhere you look there are houses that have been on the market for a substantial amount of time and seemingly impossible to shift, mortgage rates have been put up, the banks now require at least 20-25% deposit and the interest only mortgage has vanished, or at least is virtually impossible to to qualify for.

    Are homowners in denial of how much their property is worth?

  2. #2
    They say "We don't understand; it's on at the right price!" It it was on at 1000 then it would sell instantly, so price is *clearly* the problem. Get the price right, and the house will sell.

    You also get these idiots who chase the market down: they turn down a reasonable offer, don't get another offer for months, and then drop the price to *below* the offer they refused. Rinse and repeat, over and over.

    I'm glad I'm not house hunting right now as the silly sods would seriously do my head in!

  3. #3
    Im glad its not just me sgjhaghsdg!

    Im currently house shopping (much to my great annoyance) and have made a number of very reasonable offers (within 10% of the asking price) on houses that have been on the market for 1 - 2 1/2 years only to be told they want near the asking price! Are these people living on the same planet??

  4. #4
    It works both ways - if the seller doesn't want to sell they don't have to no matter what anyone else thinks.
    I think (except for distressed sellers) that the mortgages taken out on properties have made a baseline for the selling price. If they don't get at least that they won't be able to move to another property that they want so would rather stick where they are.

  5. #5
    I guess they can stick there as long as they like, just so long as they don't at the same time complain about declining prices and that their house just won't sell.

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