Vendors kidding themselves right?

[NorthernLurker]

There's a house just come on the market up the road from us. Being nosy I've looked it up on Rightmove. They bought it two years ago for 249,999 - which was too much then and is the highest price a house on this street has ever fetched. Now they are marketing it as 'offers above' 249!!! Who are they trying to kid? Do they seriously expect that somebody will pay extra stamp duty etc and pay more than the house was worth two years ago? I don't subscribe to the apocalyptic predictions of some - but even I think these people are living in la-la land!

lol, didn't really mean that as it came out!!

meant for offer to be seriosuly considered, but suppose it depends how much they want/need to sell!!

lol - porperty developoer on newsnight with a classic quote; "prices have started to drop, that;s the first sign of recovery." What??

Dinny, I've had estate agents say vendors with properties on sale for 750 will accept 550. just go for it!

Dinny
They won't take offence. They'll just be surprised to hear from their estate agent!

Where I am, the market is bonkers and we are trying to get our heads around it. Hear this: two semis (attached to each other), Victorian, 4 bedrooms, very centrally located, one needs major work, the other 'doesn't'. Prices: 150K for one and 345K for the other.

There must be something serriously wrong with the one that needs work, structually or planning permission for a brothel next door or something.
Keep watching it is very much the buyers in the driving seat now.

i've just been having a nosey on right move and a house on our street (small pokey 3 bed semi, nice-ish area) was bought for 170k in feb this year. it is now on the market for 215k

who in their right mind thinks property prices have gone up by 20% in the last 6 months

They may have spent £30k on it hoping to flip it, those people will get burnt the most, people care about decor in a rising market but couldn't careless in a falling one.