Is it wothwhile viewing overpriced property?

[mf1]

Willowchase, best of luck on selling your house when you did. But when this bottoms out, would you like to have been the family who paid a vastly inflated price for your house. Alot of young families will carry a hugh burden for up to 35/40 years and maybe pay other consequences for the desception of the greedy vested interests.

Ok, families made a decision to buy and must take responsibility for their own actions but the frenzy was whipped up, buy now or miss thye boat as prices will keep increasing. Reasons voices were shouted down.

What is your point?

mf

 

[sadie]

Generally speaking I don't view houses that I consider to be overpriced (now there is a scale there from ludicrous to misguided to nearly reasonable) specially if they have been on the market a long time, as it doesn't help my cause or the seller's cause to be giving them the impression I can afford it at that price.
So my advice - if it's too dear, don't view.

 

[crabbybear]

MF, my point should be obvious. Let me explain it to you. Act with integrity, stop the ghost bidding and deception. Take responsibility for your actions. I know this is going to be a hugh change in the way EA's are being in the world but it may actually get them back their credibility.

 

[Chocks away]

I would have thought that that question doesn't require an answer.

 

[moneygrower]

Go view, put in your low ball offer. Because the asking is too high you won't have competition and may be the only offer they get so they might just take it.

 

[Willowchase]

Willowchase, would you like to have been the family who paid a vastly inflated price for your house.

What is a fair price? We took a hit on the price we accepted for our house but, at the same time, we sold for more than we would now get. The thing is we had an auctioneer who gave us good professional advice which enabled us to sell the house within a reasonable time frame.

What is the point in regrets one way or the other? What's done is done. At the time we thought that the purchasers of our house got a bargain but we didn't mind, we got a sale. No doubt house prices will rise again in the future and the boot will be on the other foot.

 

[MrMan]

Don't agree. In my opinion they are the lowest form of human being - they are liars and totally lack integrity. Their best friends are their ghost bidders. I'm glad they are getting burned.

Damn fine post, you must have met em all to make such a conclusion. I bet some of them didn't even bow to your negotiation skills and actually went about there job in the interest of their client - the scumbags. You just wouldn't believe how many ghost bidders I have actually seen follow through and buy houses, I mean it makes absolutely no sense that more than one person would bid on a house that is advertised in a market that was rabid in its desire to accululate property.

 

[MrMan]

Possibly, but lets not forget EA's haven't done themselves any favours in the past.

When you have interest in a house it's amazing how all of a sudden there is a second or third offer on a house that has been on the market for a while. I'll all up for earning as much money as possible, but don't con people for it.

This notion that the vendor decides, and EA are innocent middlemen that just pass on offers, i know of atleast three cases where EA hadn't even informed client of offers. Greed is a terrible thing.

If I really wanted a house in todays climate, I would go directly to owner.

Its actually not that amazing that other people get involved in the bidding process. I don't disagree that ghost bidding went on but it makes no sense to use that practice in a market that had plenty of buyers. People always think they are getting a raw deal but if you actually analyse the extra profit from those increased bids it would make no sense to risk a real buyer for a few hundred euro. I'm sure your own profession has a long list of sinners too so don't be so quick to write off a profession.

 

[MrMan]

MF, my point should be obvious. Let me explain it to you. Act with integrity, stop the ghost bidding and deception. Take responsibility for your actions. I know this is going to be a hugh change in the way EA's are being in the world but it may actually get them back their credibility.

It won't change the publics perception because they will always need a bogeyman or a bad guy who is at fault regardless of the scenario.

 

[Bronte]

It won't change the publics perception because they will always need a bogeyman or a bad guy who is at fault regardless of the scenario.

Relax MrMan, Estate Agents are fine, it's them darn bankers, regulators, directors and politicians that are far worse.

 

[Bronte]

He gave me a very accurate account of what was happening in the market and what was likely to happen over the next twelve months or so. Based on his observations we agreed on a realistic price for the house and we sold within 4/5 viewings.

That's a very good point which a lot of sellers are not keen to listen to from their estate agent and therefore there are currently many properties 'overpriced' which will not sell.

 

[DavyJones]

Its actually not that amazing that other people get involved in the bidding process. I don't disagree that ghost bidding went on but it makes no sense to use that practice in a market that had plenty of buyers. People always think they are getting a raw deal but if you actually analyse the extra profit from those increased bids it would make no sense to risk a real buyer for a few hundred euro. I'm sure your own profession has a long list of sinners too so don't be so quick to write off a profession.

MrMan, welcome back.

I am not writing off a profession, just speaking from experiance with two EAs I have dealt with in Limerick. Don't take it personally unless you happened to be the EA I was dealing with, which is possible.

Unlike a lot of posters I don't immediately jump to the defence of my profession because there are a lot of "sinners" but thankfully most are saints.

I am interested in a house and I know the owners, I will be contacting them directly and if they wish for me to go through EA, I will do so.