Crazy Prices On Tv Classifieds

[dave111223]

I really wish they had a comments section on the classifieds system, maybe keep the sellers honest. Specifically with the housing section. Some the ads the prices seem absolutely ridiculous. "Deluxe pool villa" (aka half finished 2b/r bungalow in the jungle) 15M baht.

I am just losing it or do a lot of the prices listed of TV seem to be way above 'market' value...?

[ashacat]

Yeah, I'have noticed this with the rental prices in Bangkok. I hope no one actually pays the amounts some of them are asking for...

[dave111223]

Yeah, I'have noticed this with the rental prices in Bangkok. I hope no one actually pays the amounts some of them are asking for...

You'd hope so, but you never know.

That's why i wish there was some kind of comments, or "ask the seller" system. Where the questions/answers are visible to all users. Then we could ask the seller why they feel the property warrants the price tag. Some may have a valid reasons, others may not, at least potential buyers/renters would know the price was questionable.

I'd hate to see TV become a tool used by unscrupulous sellers to rip off trusting/naive forum members.

Edited June 4, 2009 by dave111223

[SoiGirlHunter]

Its called "Kwai Fishing"

[trogers]

I have an outhouse selling for Bt20m. Comes with an Elite Card as well.

[rgs2001uk]

Yeah, I'have noticed this with the rental prices in Bangkok. I hope no one actually pays the amounts some of them are asking for...

You'd hope so, but you never know.

That's why i wish there was some kind of comments, or "ask the seller" system. Where the questions/answers are visible to all users. Then we could ask the seller why they feel the property warrants the price tag. Some may have a valid reasons, others may not, at least potential buyers/renters would know the price was questionable.

I'd hate to see TV become a tool used by unscrupulous sellers to rip off trusting/naive forum members.

Agree with the two highlighted sentances above.

Have often been tempted to reply to these adverts, but at the end of the day, why bother?

The phrase, due dilligence springs to mind, due your homework, learn to read some basic Thai etc etc.

The rents being quoted for some of these properties is bordering on taking the piss, however like many things in the glorious land of smiles, buyer beware, just because some people are daft enough to ask ridiculous prices doesnt mean the buyer has to be daft enough to pay it.

Probably a nice little earner for some.

[RAZZELL]

I might be wrong but most "Farang" targeted website prices seem to be about 1/3 more expensive than the "Thai" price.

For both buying and renting.

RAZZ

[Livinginexile]

I have property for sale in Bangkok and it is listed with several agents and believe me, it's not just TV classified that property is expensive.

Perhaps the other sellers are like me in that we are in no hurry to sell.

Generally if someone has enough funds to invest overseas they are not short of a quid and don't mind waiting a year or so untill a buyer comes along.

This is my view for what it's worth

[johnnyk]

People can ask what they want. Nothing illegal there.

Its up to others to figure out if its worth the price.

If someone offers 20 million for trogers biffy then that person must think its worth it. One assumes the person is an adult.

No fault of trogers, he got lucky.

[RAZZELL]

I have property for sale in Bangkok and it is listed with several agents and believe me, it's not just TV classified that property is expensive.

Perhaps the other sellers are like me in that we are in no hurry to sell.

Generally if someone has enough funds to invest overseas they are not short of a quid and don't mind waiting a year or so untill a buyer comes along.

This is my view for what it's worth

Of course the market price is where the buyer and seller agree.

It's just that there seems to be "two" market prices

RAZZ

[Richard4849]

It is definitely not limited to Thai websites.

I read Thai, and often scour the Thai language listings at places like land.co.th and teedindd.com.

Yesterday, I found one lady offering a five-rai piece of land for 8 million baht when the market rate is 3.5 million/rai. I had my girlfriend call her thinking her price was for the whole five rai plot she was advertising (therefore making it a real bargain), but no -- she meant it to be 8 million per rai.

When my girlfriend mentioned the market rate of approx 3.5m/rai -- which is well known -- she agreed and stated simply that "Thai people like to bargain".

In the end, anyone who is knowledgeable knows the market rate. Land and condos are definitely commodities, and there is a market rate that everyone will acknowledge. You might sometimes find desperate people who are willing to sell slightly "below market value", then there are those for whom hope springs eternal, who will hold out for slightly more.

End the end, know the market before you buy.

[imaneggspurt]

I might be wrong but most "Farang" targeted website prices seem to be about 1/3 more expensive than the "Thai" price.

For both buying and renting.

RAZZ

Absolutly right, and this is another reason the thais dont want us buying property,.creates a false market,

[12DrinkMore]

And then they try to justify the prices because

"well compared to xxxx it's really cheap"

Substitute Hong Kong, Singapore, Phuket, Bangkok, Europe, London New York, Sweden for "xxxx".

And the Farang owned real estate agents, which spring up like cockroaches out of the drains in Hua Hin after a brief shower, are the worst in deception and lies. Most of them have zero experience in real estate until they come to Thailand, suddenly they are the local experts and will con the newcomer into buying anything asap.

So here's a word of advice, which you have all heard before

"Never buy property in Thailand unless you have lived in the area for at least 12 months, and never buy unless you can afford to walk away from it, or can contemplate living there until you die".

[Gary A]

It's easier to come down on price than to go up. The buyer negotiates and feels good that he has been able to bargain and got a good discount.

I advertised a truck in the classifieds and was amazed at the stupidity of some replies that I got. Asking price was 450,000 and people offered 200,000. Why waste my time and their time with ridiculous offers? It works both ways.

[harrry]

It's easier to come down on price than to go up. The buyer negotiates and feels good that he has been able to bargain and got a good discount.

I advertised a truck in the classifieds and was amazed at the stupidity of some replies that I got. Asking price was 450,000 and people offered 200,000. Why waste my time and their time with ridiculous offers? It works both ways.

But what did the truck sell for.

[Gary A]

I traded it to a dealer on a new one. I probably got about 400,000.

[meadish_sweetball]

I call it 'lottery mentality'.

People who would rather sit on their property with an overly-inflated price tag, hoping to 'win the lottery' by finding a buyer out of touch with market value, rather than offering a more realistic price from the outset.

Very common in Chiang Mai too.

I think there is a difference between asking 450,000 and being prepared to accept 400,000, as opposed to asking 15 million for something that is only worth 7.

That difference would be the difference between business sense and profiteering.

[trogers]

I call it 'lottery mentality'.

People who would rather sit on their property with an overly-inflated price tag, hoping to 'win the lottery' by finding a buyer out of touch with market value, rather than offering a more realistic price from the outset.

Very common in Chiang Mai too.

I think there is a difference between asking 450,000 and being prepared to accept 400,000, as opposed to asking 15 million for something that is only worth 7.

That difference would be the difference between business sense and profiteering.

I am an investor with no rush to buy, looking for sellers rushing to sell...just viewed a 2-bed 68m2 unit at Prakhanong. Owner asking Bt2.5m and my offer at Bt2.3m. Now final offer from the owner is Bt2.35m, and I am considering.

[PatinBKk]

Entry to Thailand is only on the basis of having 2 things.....1...a visa/entry stamp ....2...being a greedy s*8t same as the locals

[Tokay]

Its called "Kwai Fishing"

[Phrakhanong]

High prices have been a common factor in Thailand since I first arrived in the 1980s

I stayed in a town house in Phrakhanong years ago. The owner offered to sell it to us for several million. We weren't interested in buying in any event, but the owner was obviously having a go. A few years later, I saw the exact same house on the Bangkok Bank website (repossession) with a price tag of under 1 million.

The neighbours to my in-laws own a decent sized block with a really old house in bad condition suffering from concrete cancer. The owners inherited it, and they happen to be dirt poor, except for this one asset. They are trying to sell it for 15 million. Two houses down, a similar sized block, but with one main house and four rental units in the back was offered for sale at 10 mill (and I am sure that price is negotiable). The neighbours with the concrete cancer house refuse to budge on price, but I can see their standard of living dropping, so I am sure that price will eventually drop one way or another, either because they see reason or the bank forces a sale.

Interestingly, once in awhile some idiot seems to pay the asking price. Two years ago another block a few streets away was offered at 12 million and I laughed, thinking it would never sell... it sold, pretty quickly. Nothing special about the block or the street, or amenities nearby. Of course, I don't know what the real sale price was, but I assume it was pretty close to asking. I could be wrong.

[basjke]

It isn't only the real estate,a few months ago I saw a secondhand honda click advertised and the asking price was 1000 baht more then the new price.

[teddy_bare]

Late last year I called many of the owners of Lower Sukumvit houses advertised online. Their advertised prices were in the range of 40,000 baht +. When I explained I was paying about 23,000 baht currently in Sathon and the current state of the rental market, they all dropped their price to about 25-30,000 baht within minutes. Considering I have 2 dogs, I thought they were fairly accommodating. Most were happy with a one year contract. Conversely, and strangely, properties in Min Buri, and near the airport would not budge from a 2 year contract or lower the price. Maybe the noise of the incoming planes has reduced with fewer tourists arriving and therefore they feel the units are worth more.

[trogers]

It isn't only the real estate,a few months ago I saw a secondhand honda click advertised and the asking price was 1000 baht more then the new price.

Did you check out the bike carefully? Perhaps the owner had the engine converted to run on NGV.

[basjke]

It isn't only the real estate,a few months ago I saw a secondhand honda click advertised and the asking price was 1000 baht more then the new price.

Did you check out the bike carefully? Perhaps the owner had the engine converted to run on NGV.

I don't think so.Just went back to look up the ad only to find out that the seller has a motorbike rental business.So I'm sure the bike is in splendid condition.