Do Sellers Of Property Feel Trapped .

[churchill]

I am not selling my property in Samui but think that if I did put it on the market it would not sell whatever the price , because of lack of investors at this time - What is the solution ? if any - rentals ? less tourists so unlikely -

For those forced to sell - perhaps 50% discount or more ! - Are there any web sites for distressed sellers who need to sell - That might attract investors ?

[eljeque]

I am not selling my property in Samui but think that if I did put it on the market it would not sell whatever the price , because of lack of investors at this time -

Agree

What is the solution ? if any - rentals ?

Yes, for now, and look hard for that renter!!1

less tourists so unlikely -

Make a greater effort than the next guy and you will find a renter.... AT A MUCH LOWER PRICE than you may have planned on last year/

For those forced to sell - perhaps 50% discount or more !

30 - 40 and a lot of work!!!

Are there any web sites for distressed sellers who need to sell - That might attract investors?

Not that I am aware of, but real estate is more local, so advertising locally is more important than on the net.

Someone in Samui who really needs to sell

should be in the magazines (expensive ads hurt and may be a waste... but?)

on all of the bulletin boards of the stores,

hooked up with all of the local agents even if they are concentrating their energy on development sales,

notifying all of your neighbors who may have friends who like the area OR might be interested in buying a second property in the same mooban.

best of luck

[zorro1]

I am not selling my property in Samui but think that if I did put it on the market it would not sell whatever the price , because of lack of investors at this time - What is the solution ? if any - rentals ? less tourists so unlikely -

For those forced to sell - perhaps 50% discount or more ! - Are there any web sites for distressed sellers who need to sell - That might attract investors ?

He states he is NOT selling his property. Not sure what the point is but sounds like he is looking to buy from distressed sellers and Samui would have a few. lots of sales seminars and holiday homes sold to tipsy tourist whilst feeling warm and fuzzy, poor buggers.

[churchill]

Not interested to buy or sell in Samui or elsewhere at this time -but I think there must be lots of sellers who cannot sell -

The market is not the same as Europe where if needs be one can go to auction - So what can people do ? house swap ? ? or just wait until the West picks up ?

People already here are not moving and so until we have investors back from Europe , Russia , US most are stuck .

Perhaps the one area were they may be demand is from H/K , Singapore , Japan , China -

[MJo]

I can tell you singapore is in the same boat with US and UK. People and government are bracing for the full impact. Local RE market is diving steep and last thing people are going to invest is second home overseas.

[bangkokrick]

MJo that avatar is awesome mate!

Property prices have/will slump worldwide not just in Samui, but i agree that not many will be looking to spend on a second home in this financial climate.

Cheers, Rick

[Komerican]

I am not selling my property in Samui but think that if I did put it on the market it would not sell whatever the price , because of lack of investors at this time - What is the solution ? if any - rentals ? less tourists so unlikely -

For those forced to sell - perhaps 50% discount or more ! - Are there any web sites for distressed sellers who need to sell - That might attract investors ?

Try prakard.com. It's a Thai web site but you see a lot of English post there too. I found my condo from one of the post.

[londonthai]

word of mouth and local estate agents, supported by over 3% commission, works the fastest - you don't pay for advertising a penny, untill your house is sold/rented.

there are thousands property websites, but they do cost as well and the whole process of advertising/finding a buyer/guest and arranging all the formalities is slow - doing it just for 1 property is time consuming and not worth an efford.

I wouldn't count on the buyer from abroad, rather somebody local, thai or farang, expanding their rental business or as an long term investment.

[pothai]

Investor?????why investor....buying a home is exactly that...buying a home!!!....Using the word "invest" is why there has been so much development and so many unsold units...

If you need to sell, sell at a realistic price, dont try and make a 300% profit....if you are from the U.K. and converting back to Sterling you could accept 20% less than you paid and still be in profit due to the exchange rate...same with $ or Euro but a lesser %

Although not many buyers, houses priced sensibly are selling. just dont be greedy

[LivinLOS]

Saw one a few months back.. 10m on a southerbys real estate site... a few 'reduced adverts' then 4m asking.. and further 4m with offers considered..

From 10mil to 4mil and offers says how much air there is in some of these phuket deals..

Actually at 4m it looked a bargain, pool, imported aluminium kitchen appliances, german designed and built.. Etc.. I often wonder what he actually walked away with.

[M555]

I am not selling my property in Samui but think that if I did put it on the market it would not sell whatever the price , because of lack of investors at this time - What is the solution ? if any - rentals ? less tourists so unlikely -

For those forced to sell - perhaps 50% discount or more ! - Are there any web sites for distressed sellers who need to sell - That might attract investors ?

My house would not sell for 2 million. I want 2.7 so look what I did. I raised it to 8 million. Now I feel at least I have a 8 million baht house.

So I am not trapped I feel better knowing that I want 8 million.

Just raise the price by 5 million you will feel better

[midas]

I am not selling my property in Samui but think that if I did put it on the market it would not sell whatever the price , because of lack of investors at this time - What is the solution ? if any - rentals ? less tourists so unlikely -

For those forced to sell - perhaps 50% discount or more ! - Are there any web sites for distressed sellers who need to sell - That might attract investors ?

My house would not sell for 2 million. I want 2.7 so look what I did. I raised it to 8 million. Now I feel at least I have a 8 million baht house.

So I am not trapped I feel better knowing that I want 8 million.

Just raise the price by 5 million you will feel better

You will eligible for Thai citizenship if you continue this way

Edited February 20, 2009 by midas

[Newguy70]

One word

overpriced

I am sure many will debate both ways.

Edited February 21, 2009 by Newguy70

[Heng]

Just put up a for rent sign, kick back and relax and have some rum and coconut water. Keep reducing the rent until you get a tenant. Give them "free rent" for X months as a bonus if needed.

No need to sell land ever as they aren't making any more...

p.s. hopefully you don't have a mortgage on any of your properties

[Lasic1]

Well there appears to be a glut of condos again, construction is being suspended and some workers are protesting since they haven't been paid. It comes down to speculation, supply and demand. Speculation has raised prices and there is an over-supply on the market meaning demand is down. It doesn't matter much if you live there as your residence but if you owe money, need money or hope to profit thru selling, I'm afraid your stuck for a few years.

Also a similar situation occurred in 97 and the housing market collapsed with the IMF crisis. Hopefully the economy won't fall that far but many hedge funds who invested in these emerging markets have liquidated their positions. The question is does the Thai treasury have the surplus baht to get through the crisis and does industry have enough of a competitive advantage to maintain production?

I am not selling my property in Samui but think that if I did put it on the market it would not sell whatever the price , because of lack of investors at this time - What is the solution ? if any - rentals ? less tourists so unlikely -

For those forced to sell - perhaps 50% discount or more ! - Are there any web sites for distressed sellers who need to sell - That might attract investors ?

[Boater]

I am not selling my property in Samui but think that if I did put it on the market it would not sell whatever the price , because of lack of investors at this time - What is the solution ? if any - rentals ? less tourists so unlikely -

For those forced to sell - perhaps 50% discount or more ! - Are there any web sites for distressed sellers who need to sell - That might attract investors ?

My house would not sell for 2 million. I want 2.7 so look what I did. I raised it to 8 million. Now I feel at least I have a 8 million baht house.

So I am not trapped I feel better knowing that I want 8 million.

Just raise the price by 5 million you will feel better

You will eligible for Thai citizenship if you continue this way

...

[think_too_mut]

Well there appears to be a glut of condos again, construction is being suspended and some workers are protesting since they haven't been paid. It comes down to speculation, supply and demand.

That platitude does not work here.

Same as with oil: there was no significant change in demand but prices skyrocketed to 145$ July 2008. With unchanged demand they crashed down to 35$.

It's something else that is the root of property madness: expectations. The expectation that prices can only go up. That was a handy theory but now, world + dog knows how stupid it was.

Now, the expectations have changed dramatically and that's the trap the developers and the sellers are in.

[trogers]

What is the solution ? if any - rentals ? less tourists so unlikely -

Depends on the type of property and the type of occupant(s) it will attract.

I am sure in the midst of all the gloom, there are people in some part of the world with money and are overstressed by recent event.

If you can package a long holiday (say 3-6 months), including housekeeping, visa extension, etc and advertise it in the world wide web, you can find a taker.

[Jingthing]

I don't feel trapped. I AM trapped.

[trogers]

I don't feel trapped. I AM trapped.

Time to sell papaya pok pok outside you home...

[londonthai]

I am sure in the midst of all the gloom, there are people in some part of the world with money and are overstressed by recent event.

If you can package a long holiday (say 3-6 months), including housekeeping, visa extension, etc and advertise it in the world wide web, you can find a taker.

with the crisis some take early retirement or just stop chasing very few jobs available around, go on a long holiday and live off the savings.

there is sense of advertising on the net a house for sale, especially if it's a high value one 10-20mln - a 3-4% saved on the agent fees and 10% made more from sale to the foreigners rather than to the locals, do make a few mln, but you will have to wait a long to find a buyer.

Running a rental business just for 1 property is just not sensible, unless you have already a cirle a relatives/friends coming frequently to thailand and interested in staying at your house.

[HDRIDER]

HI

I think its good for me, i want to buy a house and just waiting for the right one, i only want a house in Nai Harn and prices is going down, heard of one cost 15M now down to 8.5, true?? i dont know

[chiang mai]

I am not selling my property in Samui but think that if I did put it on the market it would not sell whatever the price , because of lack of investors at this time - What is the solution ? if any - rentals ? less tourists so unlikely -

For those forced to sell - perhaps 50% discount or more ! - Are there any web sites for distressed sellers who need to sell - That might attract investors ?

Six months ago the idea of a 50% fall in UK property prices was heretic, today people in the UK are actively discussing the potential for 80% falls.

What does this have to do with Koh Samui options, nothing, but there must be things in common between the two places.

Anyway, I do love your avatar since I used to live on the edge of Blenhim in Woodstock.

[eljeque]

Sure it has something to do with the prices in Samui

The dowfall in the UK, US and Europe are linked

A percentage of the buyers in Samui were from the UK, US and Europe and were using the increased value of their homes to assist in a Samui purchase, and or basing their Samui purchase amount as a percentage of their home value in the West.

Also, a lot of the sellers, and now even more sellers, are selling based on their difficulties back in the West, and those difficulties sho up in home prices in the West.

[churchill]

I think that prices will certainly decline in places like Koh Samui , Phuket but not as much as in Europe and I think that this region will not be as badly effected by the recession as the UK , Europe and the US .

Many will always be attracted by the life style , lower living expenses and weather and with the extra infrastructure spending soon to be happening on Koh Samui , now with city status , it will become an increasingly nicer place to live and quite a few people in Europe will be looking to get away from all gloom and doom

Hotel groups are still investing in Phuket and Samui which will attract new visitors in the future .

Perhaps in the coming years we will begin seeing more investors coming from India or China .

[RubbaJohnny]

Aside from opinion, insurance valuations and hearsay the only real time a real estate is monetarised is upon sale day.

I do not believe LOS is immune fro world recession and the worst is not over,proximity to China is less important than when US repos stop and real estate picks up Stateside and to a lesser extent in UK and Europe

Prices at the top end will soften but prime e.g. sea view or must have kudos condos will be in demand for people who are recession proof as a million$ goes along way here and enough to retire on or small unit in London Tokio N York etc

Similarly at the bottom end say under 1 million baht there is a floor for western standard accom in the sense that folks need ahome even if no job pension car wife or lifestyle

Its in the middle as others say its global and well wait 3-7 yrs to recover going from my experience I was working at the worlds largest bank in the 1960s!

Distress sales mean heavy discounts and Thai wives v reluctant to sell their security esp at a loss

BUT and this is my unguaranteed unregulated advice you need to weigh the package if bank debt mortgage or pension shortfall looming downsizing now (a yr ago would have been better,I went liquid in 2006 as I could see it coming) may work

Taking a 20-40% hit may seem a good move when you can buy it back at bigger discount avoid negative equity which is the nightmare scenario,this couple to 1970s stagfaltion lo or no jobs growth but price rorts

OP says he cannot sell what he means he has an unrealistic price

Ill give him a large Singha a million Zim $ and half abuffalo to start the online auction

ALL one needs to market is a big sign in Thai

Distress sale any offers

Chinese speculators will be crawling over the place offering 35-45cents on the $ or my cheque'll bounce to LRC!)

Good luck chaps in depression cash is King and that's why some will liquidate second homes to keep up payments on first esp in resorts Hua Hin Pattaya Phuket ,normal places like Khorat or C Mai Lopburi should feel it less

Well see and as I said to Mr Brown head croupier at UK Casino PLC Quantitative Isaan? MOVE OVER DARLING

UP ARRANGE A COULDN'T BREWERY PISS IN CLOWNS (re=arange into well known fraze)