Why do some people not accept they have overpriced their house?

[oatmilkchocolate]

There is a semi-detached near me that has been on the market for at least 18 months, maybe two years. The owners keep changing estate estates but never reducing the price.

There's no mystery why its not selling. Its priced the same as detached houses in the local area, and its semi-detached. A really nice detached house just up the road sold recently for 15k less than this one is on the market for. And it had two bathrooms and this only has one. And this house is a unusual design where the ground floor is a garage and utility room, which has the washing machine and dryer in, and you have to go up a flight of stairs to get to the house itself, which starts on the first floor. Which is obviously going to put some people (quite a few) off.

I don't get why the owners aren't grasping that they have just significantly overpriced. Why not just look at what other prices in their area are selling for and reach the obvious conclusion?!

It seem obvious to me, why do people have to accept anything just because other people want them too

Estate agents who don’t update their listings promptly drive me nuts. I don’t want to waste my time phoning them about a property which had an offer accepted on it a week ago.

There’s an agency near me which sometimes behaves similarly and I quickly learnt to avoid them as they are time-wasters! Not only do they sometimes advertise and arrange viewings of properties which are already sold SSTC, they keep trying to push their mortgage products on you before you’ve even seen the property.

So true, the pain I feel when you see £3m property last sold for £450k in 1995 😣 Absolute peak generation, missed the world wars, have seen property values go to the moon, retired before AI and will be dead before the planet self combusts 😅

After two or three years you would need to be pretty thick to think "The One" is still going to turn up?

They would rather take a time machine back to the Western Front though than "give it away" to some young fuck who buys take out coffees and has a big fancy phone.

you're always entertaining I'll give you that.

Thanks.

Recruiters do the same too

A house near me was on the market three years ago for £750k, sold for £580k and the new owners have changed the flooring in two rooms and gussied up the garden in that time. It’s now back on the market for £995k. Quite how they think some flooring and fencing is worth £400k is beyond me and its way over priced for the area so I can only assume that they aren’t in a rush to sell or they think people are absolutely stupid. None of the £750k+ houses are shifting round here so it must be partially the estate agents fault, if they’re not selling then they should be advising more realistic prices to the sellers.

LOL, if it took a hit like that three years ago they are probably looking at sub 500k now.

They sound delusional.

I’ve seen people do it before. They’re not actually bothered about moving. If the market is buoyant they’ll put it on for an inflated price and see if they can cash in on the market. It stays on for a bit and either sells or doesn’t. They’re just testing the market really.

I think lots of people have done this in the past and often in worked as the market has generally risen, at times rapidly. However, 2026 is not 1996 or 2021 and the market is definitely not buoyant.

because they presume someone will pay it

But isnt it up to the people selling to decide what their house ia worth if they are not bothered why is it anyone else's business