To say sellers don't want to admit that the market has changed...

[FantaLemonade]

I'm a ftb and have been house hunting for nearly a year. I'm taking my time and not rushing into anything as I want to find the right house within my budget etc, but I do check right move most days (has become a bit of an obsession tbh!) so I tend to remember certain properties. I've noticed a lot more sales falling through recently and properties being re advertised online. It doesn't surprise me with all the uncertainty, interests rate rises and affordability criteria changing. Anyway, this one made me laugh (pic attached). Obviously the seller is entitled to list and sell the property at whatever price they want, but what on earth are they thinking?!. The house was only taken off the market around 3 weeks ago after being on the market since end of March and having 2 reductions, which even in todays market is still a long time for the area. Clearly the sale has fallen through, but I have no idea why they think it would be a good idea to re-list and add on an extra 5k. It's not as if the market has improved in the last 3 weeks, is it?! Utterly bizarre I think. Is this just another example of sellers not wanting to admit that the market has changed?

Nothing prevents you from putting in an offer OP. The seller then isn't obliged to accept it, they can just hang on for a year or two until prices catch up again. A house on our road just wasn't selling this year, reduced by £50k by Easter, then ended up with offers over asking and ultimately sold for £5k OVER their original asking price in the summer. I don't think they did anything different, but the housing market can be a bit weird. Your sellers might be hanging on for the higher priced spring offers.

It’s like most things. Sellers of anything always think their item is worth X because it’s theirs and they paid Y so people should bite their hands of at X.

I know housing normally goes up but you see nearly new treadmill only 4 months old with warranty from say Argos or whatever. I paid £800 so want £600. But the warranty isn’t transferable anyway but they think it’s worth it when it’s not. Cars again often way overpriced for over 200k miles, rust patches etc

My dh is one of those arses who if he was selling for say 640k and you offered 630k he would come back with 645k because you would have insulted him. I would think his being pathetic but he would be sure his right.

@Palmasailor sorry. Meant to tag you in reply

I'm in Cornwall, I'm enjoying watching all the shabby overpriced homes fall in value.

One tiny tiny 2 bed has been reduced from £250k to £215k.

£250k for a 3metre wide 2 bed was never going to sell!!