leid, "Well they are obviously asking too much. If they are desperate to offload, drop the price. The greed of some never ceases to amaze."
It's not that easy to set the price. Friends have a house for sale in the Southern Tablelands. Really keen to sell. Checked out the market thoroughly, Compared all the equivalent houses and set their price at $30k below the cheapest equal house - having first sacked one r/e agent who wouldn't market it at that price. Four months later, none of the houses have sold, and they've all come down to their price level, so they are looking to drop it again this time below the magic $400k mark - another 30k to 40k drop.
Nobody is buying. Doesn't matter how desperate you are to offload, if there aren't any buyers, no go. Maybe they should have gone sub-$400k four months ago - but even they were afraid that it made the house look as though there was something wrong with it at too cheap a price.
Prices in my suburb have dropped 20% over the last 24 months - but volumes have halved. Not an easy time to sell.
