…the same way I am a seller trying to sell, you are a buyer trying to bag a bargain, so our opinions will differ…
You are quite right with regards to having to wait a long time, that well may happen to properties in run down unwanted locations, there are thousands of those, but if you are looking for a nice property in a good area then what you are saying is absolute rubbish!
You may call sellers “dumb”, but what about those people who have a mortgage and would stand to spend the rest of their lives paying back the bank for something they no longer have?? when they can just rent and hang in there…now that would be a dumb thing to do….and also very unfortunate for those buyers trying to bag a well located property with a sea view…
As I say, you can be as cheeky or as offensive as you like and see what happens….but if the seller is not distressed then they will not drop by the amounts people are quoting on here… every sellers situation is different. If you put your name down with an estate agent and every time they show you a property you are putting ridiculous offers in of over 50% below they asking price, I can assure you, you will not be getting many phone calls from the agent as they will see you as a time waster!
Well, to be sure I’m not able to buy anything until I’ve paid off my loan in Poland in 4 years. My interest is academic at present and in fact the more I hear about Spain the less I think I will ever consider it. I’ve never gone as far as to register an interest with an EA thats for sure.
I partly agree with you on the 50% offer and the response from a vendor. 25% seems the real figures from Marks statistics, but its understandable why vendors would be reluctant as it seems a massive cut. My point is that in five years time them will fall another 25% in real terms with inflation. We are look at a long slow fall in prices over many years, the cycle is 20 years so I’d expect another eight years of falls, at even 3% inflation holding the same price will result in a 25% in real prices. Any actual cuts in nominal value will be on top of that.
So, my point is that you can ignore the cheeky offers, but in the end those are the likely eventual selling prices for most people.