I was reading over some threads and see a growing problem in how to set a sale price for your house. I see this as different to valuing your house. If you take it that every one agrees that it is a buyers market and that a awful lot of people don't seem to be looking at the value of the house, but rather they are bidding as a percentage of the asking price.
For example, say a house is on the market for €400k - people are automatically bidding below by 10% or 15% - but if this house is only new on the market surely it has taken into consideration that the prices are falling and has priced it accordingly.
So if you want to get €400k for your house do you have to put it on the market for €450k and let the buyer think that he has "haggled" you down.
I know someone is going to come back and say it all comes down to what someone is willing to pay for the house and you should only pay what you think is right, but that's not the way I see things happening in a lot of situations, if it was then percentages would never be mentioned.
Any thoughts?
For example, say a house is on the market for €400k - people are automatically bidding below by 10% or 15% - but if this house is only new on the market surely it has taken into consideration that the prices are falling and has priced it accordingly.
So if you want to get €400k for your house do you have to put it on the market for €450k and let the buyer think that he has "haggled" you down.
I know someone is going to come back and say it all comes down to what someone is willing to pay for the house and you should only pay what you think is right, but that's not the way I see things happening in a lot of situations, if it was then percentages would never be mentioned.
Any thoughts?