Dear friends
I used to see Free Ads paper to know the price quotings in RE section.
In june 2008 one person has quoted price for 2200 sq.ft land with 1800 sq.ft building with all amenities Rs.85 lacs. This house is not sold for the last 7 months.In january 2009 1st week he quoted Rs.82 lacs. This week he has quoted Rs.80 lacs.
Moreover, i can see many advertisement repeating for the last 7 months. From this we can know that property sales has come to standstill. And there is considerable price correction. Even though sellers are reducing the price slowly there are not any takers.
Thanks
chataara
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  • not at all

    Originally Posted by chataara
    Dear friends
    I used to see Free Ads paper to know the price quotings in RE section.
    In june 2008 one person has quoted price for 2200 sq.ft land with 1800 sq.ft building with all amenities Rs.85 lacs. This house is not sold for the last 7 months.In january 2009 1st week he quoted Rs.82 lacs. This week he has quoted Rs.80 lacs.
    Moreover, i can see many advertisement repeating for the last 7 months. From this we can know that property sales has come to standstill. And there is considerable price correction. Even though sellers are reducing the price slowly there are not any takers.
    Thanks
    chataara

    chataara dont generalise a case.i know 8 of my colleagues have purchased houses (to live) in the past 2 months leave 7-8 months.
    may be the site or construction or deviation is unsatisfactory.nevertheless it is common for 12-15 months for a project to be completely sold.
    CommentQuote
  • Originally Posted by chataara
    Dear friends
    I used to see Free Ads paper to know the price quotings in RE section.
    In june 2008 one person has quoted price for 2200 sq.ft land with 1800 sq.ft building with all amenities Rs.85 lacs. This house is not sold for the last 7 months.In january 2009 1st week he quoted Rs.82 lacs. This week he has quoted Rs.80 lacs.
    Moreover, i can see many advertisement repeating for the last 7 months. From this we can know that property sales has come to standstill. And there is considerable price correction. Even though sellers are reducing the price slowly there are not any takers.
    Thanks
    chataara

    Aha, folks like you talk as if you know the world. I have been posting ads to sell some of my lands in Chennai from 2004 till today. I have had many takers always and I never sold. Free ads are available on net so when possible I quote there too. IF I get the special bid, I might buy the bait.
    Now there are others who post ads because of the same reason. Now it does not mean they have no buyers. Just that they dont want to sell it out.
    IN other words most sellers are just seeing if they can get THEIR price and if not will just post more.
    FOr example when one tries to marry they post many ads. If they dont get married in 6 months, does it mean they are not fit for marriage.
    Advts are made to get a better exposure. A deal happens when two people agree to it. So if one is advertising more does not mean he has an unsaleable product. Just that he is not selling out. For example there are buyers waiting to buy. THey dont get the right house. Does it mean the prices are very high?
    Just use your brains before you post Chatara!
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  • INcidentally one man sat in my place in Bangalore wanting to buy my land in Urapakkam. The deal did not go through since after he left I decided not to sell. This was in 2006. In 6 months time I had deals at twice and thrice the rate. I am yet to sell it. Simply because I dont want to sell. I might place an advt to find the price and if there is a buyer I might hike the price too. In other words realestate is not like some katharikai or vendakai. It is not perishable. People buy it when they want and can. People sell it when they want and have to. In other words advts just give a feel they are not everything.
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  • Originally Posted by Natarajg007
    Aha, folks like you talk as if you know the world. I have been posting ads to sell some of my lands in Chennai from 2004 till today. I have had many takers always and I never sold. Free ads are available on net so when possible I quote there too. IF I get the special bid, I might buy the bait.
    Now there are others who post ads because of the same reason. Now it does not mean they have no buyers. Just that they dont want to sell it out.
    IN other words most sellers are just seeing if they can get THEIR price and if not will just post more.
    FOr example when one tries to marry they post many ads. If they dont get married in 6 months, does it mean they are not fit for marriage.
    Advts are made to get a better exposure. A deal happens when two people agree to it. So if one is advertising more does not mean he has an unsaleable product. Just that he is not selling out. For example there are buyers waiting to buy. THey dont get the right house. Does it mean the prices are very high?
    Just use your brains before you post Chatara!


    If this is the case, the advertisers should post their repeated ads with increased price every time, to get better price... what is the reason to post the ads with lesser price? Are they searching for a buyer who will buy @ lesser price?
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  • Sorry GoccaMacca, I was first :)

    Originally Posted by GoccaMacca
    Nataraj, I will offer the price you want. Can you sell all your lands to me. I work for Lehman Brothers and My auditors are from PWC



    GoccaMacca,

    Don't waste you time with this guy - I only respond to him to have some break from my work :D:D:D

    Please read carefully how he writes it. Full of sour grapes even in this prime grape season, ha, ha.

    When he is quoted a price which is too low in his opinion, he decides "not to sell" and he is in denial that prices offered to him are lower than the prices he believes is the right price. As time passes, this offered prices will only keep going lower - simply because people realise that they cannot afford these ridiculous prices!

    I too offered him land in Prime areas at the same rate as the ones he is trying to palm off in far off swamps. A bargain by his own standards. Told him that he could simply buy one day, sell at 50% margin the next and cooly walk away. Still would not bite.

    So, its clear. He is stuck with lots of property at high prices, high hopes of getting fancy prices, probably stuck with debts as well as slowly sinking in the quicksand not willing to cut losses and become wiser for another day.

    Sorry, Nats. As it has been said, repeating your property ad at lower prices for months together is not a clever trick to get exposure. Its just plain desperation and DENIAL about the correct prices. Whats the point in getting all that exposure when the property remains unsold for months and years on end? Only shows a whole lot of people that there is something wrong with the property - the price?

    cheers
    CommentQuote
  • Originally Posted by chataara
    Dear friends
    I used to see Free Ads paper to know the price quotings in RE section.
    In june 2008 one person has quoted price for 2200 sq.ft land with 1800 sq.ft building with all amenities Rs.85 lacs. This house is not sold for the last 7 months.In january 2009 1st week he quoted Rs.82 lacs. This week he has quoted Rs.80 lacs.
    Moreover, i can see many advertisement repeating for the last 7 months. From this we can know that property sales has come to standstill. And there is considerable price correction. Even though sellers are reducing the price slowly there are not any takers.
    Thanks
    chataara


    Correct.

    Ads are repeated.

    No sales on lands or flats.

    People invested all their money in real estate are wondering how to recover as prices have fallen
    CommentQuote
  • Originally Posted by Natarajg007
    Aha, folks like you talk as if you know the world. I have been posting ads to sell some of my lands in Chennai from 2004 till today. I have had many takers always and I never sold. Free ads are available on net so when possible I quote there too. IF I get the special bid, I might buy the bait.
    Now there are others who post ads because of the same reason. Now it does not mean they have no buyers. Just that they dont want to sell it out.
    IN other words most sellers are just seeing if they can get THEIR price and if not will just post more.
    FOr example when one tries to marry they post many ads. If they dont get married in 6 months, does it mean they are not fit for marriage.
    Advts are made to get a better exposure. A deal happens when two people agree to it. So if one is advertising more does not mean he has an unsaleable product. Just that he is not selling out. For example there are buyers waiting to buy. THey dont get the right house. Does it mean the prices are very high?
    Just use your brains before you post Chatara!


    Dear Natarajg007,

    Interesting message. Of course, leaving out the last line ..Just use.........

    ks2071746 :o
    CommentQuote
  • Originally Posted by Natarajg007
    Aha, folks like you talk as if you know the world. I have been posting ads to sell some of my lands in Chennai from 2004 till today. I have had many takers always and I never sold. Free ads are available on net so when possible I quote there too. IF I get the special bid, I might buy the bait.
    Now there are others who post ads because of the same reason. Now it does not mean they have no buyers. Just that they dont want to sell it out.
    IN other words most sellers are just seeing if they can get THEIR price and if not will just post more.
    FOr example when one tries to marry they post many ads. If they dont get married in 6 months, does it mean they are not fit for marriage.
    Advts are made to get a better exposure. A deal happens when two people agree to it. So if one is advertising more does not mean he has an unsaleable product. Just that he is not selling out. For example there are buyers waiting to buy. THey dont get the right house. Does it mean the prices are very high?
    Just use your brains before you post Chatara!


    Dear nataraj

    My point is: For the last several months plots are sold. In some instances property owners are quoting their prices lesser than their previous quotes.
    This means, even though they are giving ads in different media they are not getting buyers.
    That makes them reduce the quoted price.
    As I have posted in another thread, Even though I gave ad in Hindu to sell my property I got just 8 or 9 responses.
    most of the responses are from brokers.
    Now I am not trying to sell my land. This does not mean I am expecting more price for my land.

    THIS MEANS I AM NOT ABLE TO SELL MY PROPERTY (EVEN THOUGH I AM READY TO REDUCE THE PRICE FURTHER).

    THERE ARE NOT MUCH BUYERS. BUT SELLERS ARE GRADUALLY INCREASING IN NUMBERS.

    thank you
    chataara
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  • Dear nataraj

    In the above post, in the first line I was about to say for the last several months plots was not sold.

    Thanks

    chataara
    CommentQuote
  • Originally Posted by GoccaMacca
    Nataraj, I will offer the price you want. Can you sell all your lands to me. I work for Lehman Brothers and My auditors are from PWC

    With pleasure Goccaa Macca, but I dont think u got the essence of my message and such peanut brained folks like you are employed only in Lehmann and are audited by PWC.
    CommentQuote
  • Originally Posted by wiseman
    GoccaMacca,

    Don't waste you time with this guy - I only respond to him to have some break from my work :D:D:D

    Please read carefully how he writes it. Full of sour grapes even in this prime grape season, ha, ha.

    When he is quoted a price which is too low in his opinion, he decides "not to sell" and he is in denial that prices offered to him are lower than the prices he believes is the right price. As time passes, this offered prices will only keep going lower - simply because people realise that they cannot afford these ridiculous prices!

    I too offered him land in Prime areas at the same rate as the ones he is trying to palm off in far off swamps. A bargain by his own standards. Told him that he could simply buy one day, sell at 50% margin the next and cooly walk away. Still would not bite.

    So, its clear. He is stuck with lots of property at high prices, high hopes of getting fancy prices, probably stuck with debts as well as slowly sinking in the quicksand not willing to cut losses and become wiser for another day.

    Sorry, Nats. As it has been said, repeating your property ad at lower prices for months together is not a clever trick to get exposure. Its just plain desperation and DENIAL about the correct prices. Whats the point in getting all that exposure when the property remains unsold for months and years on end? Only shows a whole lot of people that there is something wrong with the property - the price?

    cheers

    So Wisey is yet alive even after his local Lehmann fiasco. So you are more like a Raju, with Swiss bank steals out of shareholder money while yoru company was in the dumps 2 months back.
    As for realestate you are not the least bit knowledgeable. And when did you offer your lands. I would have taken them. You want to buy my put options on your realestate?
    CommentQuote
  • Originally Posted by chataara
    Dear nataraj

    My point is: For the last several months plots are sold. In some instances property owners are quoting their prices lesser than their previous quotes.
    This means, even though they are giving ads in different media they are not getting buyers.
    That makes them reduce the quoted price.
    As I have posted in another thread, Even though I gave ad in Hindu to sell my property I got just 8 or 9 responses.
    most of the responses are from brokers.
    Now I am not trying to sell my land. This does not mean I am expecting more price for my land.

    THIS MEANS I AM NOT ABLE TO SELL MY PROPERTY (EVEN THOUGH I AM READY TO REDUCE THE PRICE FURTHER).

    THERE ARE NOT MUCH BUYERS. BUT SELLERS ARE GRADUALLY INCREASING IN NUMBERS.

    thank you
    chataara

    Dear Chatara. I think you are talking about apples and pears. Let us look at 2007 with extremely low interest rates, super job rates, stock market up and so every idiot was wanting to buy realestate without bothering about prices. Certainly many idiots are out of their jobs, stock market has tanked and people are scared to even look for another job! However realestate prices have not fallen.
    In the pre 2007 scenario people were buying anywhere. For example there are advertisements for land sale in Tindivanam. Now why will anyone not associated with Ramadoss want to buy land in Tindivanam. I incidentally spent 2 years of my childhood there and I wont have anything to do there. Why cross Chengalpet even? So where is your land located? Answer that. Now if it is in a swamp like Wiseman's lands are then fools will buy when they have cash. Nowadays fools are in penury so nobody will buy it even if you lower the price.
    However if your land is in strategic locations then even today there is demand for it. Now the demand is muted. So the father saying his son is in Netherlands does not call me asking for land in Saligramam around Big Bazaar. Instead a serious buyer with huge money calls. I wont reduce my price and as I stated I dont plan to sell. However I dont get the opportunity to hike prices regularly. On the other hand if my land is in some swamp I wont find buyers.
    So in essence, worthless land had buyers Pre 2007, they no longer have buyers. Good land has buyers then and now; then there were some serious and many window shoppers. Now the serious ones evince interest. Full stop.
    CommentQuote
  • Originally Posted by wiseman
    GoccaMacca,

    Don't waste you time with this guy - I only respond to him to have some break from my work :D:D:D

    Please read carefully how he writes it. Full of sour grapes even in this prime grape season, ha, ha.

    When he is quoted a price which is too low in his opinion, he decides "not to sell" and he is in denial that prices offered to him are lower than the prices he believes is the right price. As time passes, this offered prices will only keep going lower - simply because people realise that they cannot afford these ridiculous prices!

    I too offered him land in Prime areas at the same rate as the ones he is trying to palm off in far off swamps. A bargain by his own standards. Told him that he could simply buy one day, sell at 50% margin the next and cooly walk away. Still would not bite.

    So, its clear. He is stuck with lots of property at high prices, high hopes of getting fancy prices, probably stuck with debts as well as slowly sinking in the quicksand not willing to cut losses and become wiser for another day.

    Sorry, Nats. As it has been said, repeating your property ad at lower prices for months together is not a clever trick to get exposure. Its just plain desperation and DENIAL about the correct prices. Whats the point in getting all that exposure when the property remains unsold for months and years on end? Only shows a whole lot of people that there is something wrong with the property - the price?

    cheers

    BTW Wisey. How is your robotic AI firm today? You yet get business! I believe you had no buyers when u wanted to exit it and you talk about smartness. Did u sell it out when things were going bust? First of all a fellow who cant manage his own business should not be talking here about RE since he knows not a shit about RE.
    Comeon Wisey, u might have been wise with a bunchof idiots, but u certainly dont look even average to me!
    Take it easy. Buy a better brain from the mutton shop...ROTFL.
    CommentQuote
  • Nats ...

    Originally Posted by Natarajg007
    BTW Wisey. How is your robotic AI firm today? You yet get business! I believe you had no buyers when u wanted to exit it and you talk about smartness. Did u sell it out when things were going bust? First of all a fellow who cant manage his own business should not be talking here about RE since he knows not a shit about RE.
    Comeon Wisey, u might have been wise with a bunchof idiots, but u certainly dont look even average to me!
    Take it easy. Buy a better brain from the mutton shop...ROTFL.


    Nats,

    You really must use your eyes better.

    Go look up the several posts where I offered a Mylapore property of 3 grounds at a price you could have made a fortune in only days. It even got some comments from the others. So don't act as though you did not read it. Simply admit that, when faced with the REAL deal, you just chickened out and ran because you already have a ton of land bought at high prices you are not getting and are stuck. don't advertise this fact so openly :D.

    Once again I ask you here very clearly:

    Mylapore. Prime location, 3 grounds, 100-year-old property. Only white. How much? Can you reply to me in private? Or are you only an empty talker!!!:D

    Btw, there are 100% cash-down offers for this at a certain level. Only asking you to see if you could be fool enough to offer a ridiculously higher price! :D - I'm particular about who my neighbor is ;)

    cheers
    CommentQuote
  • Originally Posted by wiseman
    Nats,

    You really must use your eyes better.

    Go look up the several posts where I offered a Mylapore property of 3 grounds at a price you could have made a fortune in only days. It even got some comments from the others. So don't act as though you did not read it. Simply admit that, when faced with the REAL deal, you just chickened out and ran because you already have a ton of land bought at high prices you are not getting and are stuck. don't advertise this fact so openly :D.

    Once again I ask you here very clearly:

    Mylapore. Prime location, 3 grounds, 100-year-old property. Only white. How much? Can you reply to me in private? Or are you only an empty talker!!!:D

    Btw, there are 100% cash-down offers for this at a certain level. Only asking you to see if you could be fool enough to offer a ridiculously higher price! :D - I'm particular about who my neighbor is ;)

    cheers

    First of all Wiseman, I dont live on this board. I only write here to pass time and educate against evil designs of foolish bears like you. Next even now you are talking of 100year old etc. That is immaterial. Tell me what is your quote for this property after giving the size of land, size of construction if any and the time of the construction (if that is your 100yrs?). Tell us the place. Mylapore is very generic. Is it in Chitrakulam almost a slum or is in CP Ramaswamy road. Finally 100yrs and who is the owner, and what are the legal stuff involved. I wont buy a property which is owned by insane inheritors and well I need to decide in this regard about you too! LOL!
    So dont challenge blank. Come and post it here and be brave for once. You were a coward in disclosing your univ, were a coward in taking a million challenges I gave you. Atleast try to prove that you are worth a penny of selfworth by putting up your ad here. And dont worry I will tell the mod that it is not a advt but just an item for discussion.
    Dont chicken out eh?
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