Quote:
Originally Posted by John Evans
I've noticed that a lot of sellers are not in a hurry to sell- -ones that havent sold for a while even go up in price...does that make it a sellers market?
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Because they are not "SELLERS".
Listing a property for sale is free, so everybody immediately upon purchase a house puts it for sale at some crazy price in light hope of a stupid tourist/first time visitor who becomes overwhelmed with the beauty of the island and listens to his wife who says - "let`s buy!!".
But it does not happen often. So these houses "for sale" do not sell for years and nobody cares, just increase prices even higher.
A very different thing happens when a house owner really becomes "seller", in other words NEEDS to sell.
In this case the prices are VEEERY different and much more realistic.
It is a normal greedy human nature. Beeing in their place I would do the same.