Ethkatnev I think you have made some very good points in the above posts (too many to mention 🙂 ) I know many who would like to sell but don’t need to until the time is right. The Costas are different, not everyone is desperate to sell. I know someone who has a holiday home on sale, they paid £25,000 for it yonks ago. It is really nice, all modern, great position. Been on sale 2 years+ at 225,000, probably worth about 140,000, they have no intention of reducing!
Wait until they die, their estate will sell it or they have to return to their home country. Thats how it will end for many of the properties, waiting many years before a force sale. With the abundance of excess stock people who don’t need to sell will never sell. Those sort of people are irrelevant in the property market. They are also dumb, selling up and investing the money in an appreciating asset will give a 5% return straight off with little risk as opposed to losing 5%-10% per year.
…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!