Many homeowners may struggle to sell their homes
March 13, 2008
According to a recent report many homeowners could face severe difficulties when it comes to selling their property, and this is often because the homeowner refuses to be flexible in terms of how much they are prepared to accept on the home – this stubbornness could end up costing them time and money, state industry professionals.
Despite the house price inflation drops over recent months and the further house price falls that have been predicted, many homeowners refuse to budge on price, and this means that they are experiencing increased difficulties in selling their home, particularly given the stretched affordability that many first time buyers are facing.
One industry expert stated: ‘Most sellers obviously want to achieve as much as possible for their property, and traditionally they have chosen to test the market at an ambitious price in February, as they have plenty of time to adjust it down later. This is normally compounded by estate agents being eager to have fresh property on their books and sellers tempted to try a higher figure.’
He also said: ‘Yet the current concerns in the capital’s financial sector appear to be restraining the traditionally high
Written by Peter · Filed Under News Mortgages
It only natural hat you would want the best price for your home. However there is the sense that people are not being realistic and they pay the price - their home languishing on the market for months, if not years. I am a professional house buyer and bought a home recently that had been on the market since early 2005! In the end the only way to sell this property was to offer a realistic reduction in price.