To wonder house sellers motives?

[96waystobehappy]

Looking on Zoopla last night. Houses are not selling in our area (south coast).
They only sell if it’s a gem of a house or seller not delusional on price.

I don’t usually use Zoopla (usually rightmove) and being able to see the percentage of reduction was such an eye opener for me!

So many houses discounted things like 1%, 0.5%, 3%.

I had a bit of a nosy as I just love everything property and these are often houses that should have a fair bit of equity in them?

I would completely understand if there was no equity but otherwise why??

I never knew it was so prevalent so be adamant your house is worth what you want it to be worth! I thought that was a smaller group of people!?

Im just so confused? If I wanted to move and made 300k on my house, I’d just keep chopping it down until it sold. Why does no one do that now?

Also, live in an area with a lot of asset rich boomers and older. There are so many properties on over the 1 million mark (clearly owned for decades/ 60’s decor)that the owners just won’t reduce at all!? I just don’t get it. How much money do that actually want! And why??

If you have a house that’s been on the market for over 4 months, has made you plenty of money and you refuse to reduce or have reduced by less than 5% can you explain to me why please?

sugarandsweetener · Today 16:28

You seem to struggle with the property market Op

No, I really don’t think I do. I’m mortgage free at 45 and a single parent, did it all myself. I think I understand it very well thank you.

You must be the kind of person who tells someone their house isn’t selling because the throw of the bed isn’t straight.

This is a very odd post!

There's so many different reason why they may need to sell at a certain price and most of those reasons are nothing to do with being greedy or stupid

What are you finding so difficult to understand about it?

And the small % drops in price have always been that way with house sales. You wouldn't drop your price by 20% in one go with a house, you drop small amounts at a time

have you ever brought and sold a property?

I simply don’t believe someone would ask this daft question if they had

indeed but then to be expected given the OP!

On mumsnet, yes! 😂

a “snob” for presuming that someone asking this question can’t have had experience of buying and selling?

ok

Very surprised. I thought you didn’t own a house, you seem to think folks should just give away their equity until it sells. 😂

“I want as much money as possible to pass to my children, surely that's easy to understand?”

Of course I understand that. The question I’m asking is: Do you not understand that (if you live in my area) that you are very, very unlikely to sell in that area and that it’s getting very very likely that if you carry on being so stubborn you may end up getting a lot less than if you just priced it at a sensible price now?

If I was selling an empty house that was only going to be used for inheritance I’d be getting out ASSO, right now.

So maybe that’s my question: Are you not worried that you are going to be caught out here? Stagnant market, inflation rampant, job losses starting. It’s not getting better is it? Certainly not for a good few years.

“Very surprised. I thought you didn’t own a house, you seem to think folks should just give away their equity until it sells. 😂”

No, I don’t think that. I think you need to read the market and get ahead of it, always.

A lot of mortgage free downsizers do not “need” to move. They only move it they make the huge tax free profit that they are hoping for. For many people, it is the biggest windfall in their life, like winning the lottery.

I'm with you OP, it's just insane and keeps the property market in a stalemate.
Of course I understand these houses are people's assets and they want the most they can get for care fees/inheritance/whatever but it just warps the actual, real market and inflated the price of, frankly, shit houses (some of the worst housing stock in Europe!)

On wider point it's just so bad for the economy that so many people's wealth is tied up in their homes. I'm early thirties and homeowner - feel very lucky and our house has accrued equity which is good but on balance I'd rather have better wages than higher house prices. We 'made' money but can only access it if we sell and we have young kids and struggle to save any money at the end of the month. The wages we bring in as a family are much lower than comparative salaries abroad (husband would double his income on the same job if he went to the USA office for example)

I want the money in my pocket now, not theoretically tied up in my house.

Quite.

presumably “all of it” and “to buy nice shit” respectively.

“have you ever brought and sold a property?

I simply don’t believe someone would ask this daft question if they had”

yes- I just told you that. I am currently in my third house.

yes and as i say - very easy to have owned three properties and now be a mortgage free single parent of 45…. on mumsnet!

i will bow out. it’s all a bit toe-curling

How do you know how much equity they have in their house? You've no idea their mortgage situation, they might have remortgaged at some point.

Generally people only drop their price when they're in a rush to sell. No rush and they'll sit tight and see what the market does. Or, as a pp says, might well take a lower offer.

I think you need to calm down? You're being totally unreasonable!

Op, remember, "Love is trash, bitches need cash".

it a bit funny though @Behindyouiam 😂

"Go away you old crank" and the assumption that "every Boomer" is rolling around in cash. God that's both ageist and bollocks right there.

So sick of ageism, of pitting generations against each other, of making assumptions about people on the basis of their generation,

OP: FWIW not all Boomers are massive rich tightwads trying to sell their billion pound houses and screw younger generations. My parents are skint. Most of my friend's parents likewise. Not all Boomers are as lucky as yours. And one day you'll also be old, so I hope by then people spouting ageist shit like you ... well, don't do it anymore. Horrible.

But the houses they want to move to have increased by the same percentage..... seeling 'cheap' only works if you are coming out of the housing market altogether (probate/care home) etc., or moving to a cheaper area.

I live alone, in a 4 bedroomed detached house. I'd love to downsize to a 2 bed bungalow, but they cost the same as my house. So I NEED to sell at best price possible, to buy something smaller, pay stamp duty, solicitors costs etc.,

It's not necessarily greed, but necessity.

PianPianPiano - I don’t but I can look at how much they should have. That’s why im asking on here. Anyone want to come forward and say it may look like they’ve got 1 million equity but they’ve remortgaged it all away?? Because that’s what I was looking for. People to come in and explain why but the only answers I’ve got are “because I deserve all the money” 😂

im sure you do…. But will you get it? No

This is true!

they don’t want to dignify your question with a proper response!