house prices overpricing why

[isseywithcats]

we are house hunting at the moment, average in the area we live in currently is £120000 for a two bed semi, we went to look at one today on the photos looked very good didnt like it when we got there it was priced at £134000, so we got there the garage was awful needed replacing. two of the windows in the conservatory blown, the garden which looked a resonable size on the pictures was a tiny strip of grass six foot wide at one end about twelve inches wide at the other, the kitchen has units above the work top island in the centre so boxed in and no cooker, a gas hob but no cooker or space for one, why do these people think they are going to get £14000 above average and who would have priced it thus, it is empty so only saw the key guy from the agency

People selling have less of an idea of the market than buyers, who have been looking at comparable properties. Or they're hoping that some idiot will buy it not knowing it's overpriced. They'll drop the price eventually if they really want to sell.

If it's empty could it be an inheritance and they are holding out for a good price as in no hurry to sell?
Also, they will get feedback like I'm sure you will give. But I agree, a house will only sell for what people are prepared to pay.

It's standard to accept 10% below asking price so that obviously affects the initial pirice.

Offer 20% less and settle for 10% less and not a penny more

No Oven? This is the bit that is bothering me. Does it really not have an oven?

no no oven at all there is a hob but then drawers under the hob even though im not someone who uses the full oven all the time there are times i do use and there was no where to put one in we are not going for this one as the back garden is like the verges you see at the side of the road, if i lined my four cats up down it that would be it, no room for a patio table and chairs all overlooked by the houses round it. we are looking at one today that ticks all our boxes except the garden size which though small is still big enough and priced at £120000, and dosent need much doing to it, yes someone will probably buy the other one but not us dilemma is how much to offer on it

well we are back and second viewing we have done on this house and it still lives up to ticking boxes the rendering on the outside needs some work but thats not a major problem so we are going to start at £112000 and see how we go will update

Good luck isseywithcats

thank you