Glut of 3 Bedroom Houses in Chiang Mai?

[JLT]

For information:

My wife and I recently decided to downsize our house from a modern (3 years old) - 2 storey, 3 bedroom, 3 bathroom, fully air conditioned, western-style, detached house in favour of a more modest single storey house.

From the 11 real estate agents we contacted (giving a brief description of the house) and asking if they would like to represent us, only one bothered to respond, saying that he felt he "couldn't market the house, because there are so many 3 bedroom detached houses of this type on the market at the moment and more being built and would only consider taking it on, if it was marketed at a "fire sale price". We hadn't discussed the selling price, so I really don't know what he thinks what the "fire sale price" should be set at. However I do appreciate that there's always a divide between the price one wants to achieve and the price one will accept.

Who'd have thought?

(BTW - No smart-ass reponses needed)

[mascarabertha]

True true. Knowing this my wife just bought a new 3 bedroom Q house and customized everything about it. It really stands out from all of the others. She just about to put it on the rental market which you should consider if you don't need the proceeds to go forward. Put superb kitchen and bathrooms will catch a buyer or renters eye more quickly

[Oscar2]

hope you don't consider this "smart-ass" but did you ever think you may be asking a little too much for your place on facebook (like perhaps double what it's worth)? my wife owns a few properties in Saraphi and they are not worth that much. damn near impossible to rent them as well, which should tell you something. i mean, there's nothing out there. i wish you the best of luck of course. at some point Saraphi will catch on, but a few years down the road... more supply that demand everywhere right now.

[masuk]

I for one enjoyed renting a 2-story house; I let the upstairs rooms bake during the day while I stayed cooler downstairs.

As soon as the sun was down, upstairs cooled down, air con on for an hour and my bedroom fit to sleep in.

I'll do it again if the rent is right!

[worgeordie]

My advice would be to market yourself,you are the one motivated to sell,just place

free adds,on ThaiVisa classfieds,BhatSold,flyers in RimPing,its just a little bit of

work,but you will not sell it if you are asking too much !,don't understand the thing

about a glut of 3 bed houses,as that is just what buyers and renters are looking

for, but the most important thing is location,if its not in a good location its going

to be a lot harder to move.

regards worgeordie

[Lobo4819]

In the same boat. Look around at all the unoccupied, new properties that have more new construction being built right next to them. Thais prefer new, could be a ghost in that old one. Agree with Worgeordie above in marketing it yourself. We have had no showings from brokers, but have been stuffing moo baan mailboxes with flyers offering up a 2% "finders fee" for any buyers they refer who close. Friends and family are now coming out of the woodwork, given this financial incentive, and we have had five recent showings and three legit buyers with interest, although no money in hand or closed deals yet. Better than waiting for the dolts brokers to perform. Play to the greed factor, but you must price below 'market' and expect to pay a commission if you want people to work for you.

[Torrens54]

Seems to be quite a common problem at the moment.

I had been wanting my wife to buy (because I'm not allowed to own land here, of course) a couple of two storey X 3 Bedroom houses in our village with a view to renting them out. She was reluctant ....and just as well.

For years there has been a Missionary Mob with an Office and presumably a Church, at the entrance to the village. Many of their members were renting houses here. Well, they've moved out and the number of houses now for sale and/or lease has risen dramatically.

Hate to say it but, "She who Must be Obeyed," just for once, was right!

[Benjie]

Lots of people expect to make significant money on property, perhaps like they would back home, when I tried to sell my home I only sold it when I put it on for exactly what it cost me, we had it 7 years. Are you expecting significant profit from your home?

[mascarabertha]

Lots of people expect to make significant money on property, perhaps like they would back home, when I tried to sell my home I only sold it when I put it on for exactly what it cost me, we had it 7 years. Are you expecting significant profit from your home?

Great point. Buying Krugerands is an investment buying stocks in Apple computers is an investment. Buying a house is your home. If it turns out that you can make a few bucks good for you. If you just want to move on--unload it and move on

[Lizard2010]

Its the time of the year that people go back home

Or leave to go elsewhere

As soon as the heat goes then people will be looking for houses

[evenstevens]

JLT, yes cobber its a very difficult time to sell,unless you have a fire sale price tag

there are a lot of headwinds out there,u only know whats going on,from experience gained when u put your property on the market

i have just taken our property off the market after 2yrs and 3 months of trying,luckily for us we did, nt have to resort to a firesale

be rest assured the market 2 yrs ago was in a far happier mood ,then presently,hence your poor stats on brokers

sure u will hear the good luck storys we sold our place for so and so, but really they have been kissed on their ass by a beautiful fairy,and the very best of luck to them

c/mai is overloaded with propertys to sell,and condo.s as well, please feel free to P.M. me if u feel i can give u further advice,as i have done the rounds on this subject

a very nice morning to all

[mascarabertha]

JLT, yes cobber its a very difficult time to sell,unless you have a fire sale price tag

there are a lot of headwinds out there,u only know whats going on,from experience gained when u put your property on the market

i have just taken our property off the market after 2yrs and 3 months of trying,luckily for us we did, nt have to resort to a firesale

be rest assured the market 2 yrs ago was in a far happier mood ,then presently,hence your poor stats on brokers

sure u will hear the good luck storys we sold our place for so and so, but really they have been kissed on their ass by a beautiful fairy,and the very best of luck to them

c/mai is overloaded with propertys to sell,and condo.s as well, please feel free to P.M. me if u feel i can give u further advice,as i have done the rounds on this subject

a very nice morning to all

you didn't have to resort to a fire sale because you removed your house from the market. it remains unsold correct. so what wisdom can you share if you are not successful selling your house

[JLT]

All,

Thank you very much for your responses and the advice contained therein.

1) Yes, I need to be realistic and reduce the price to make it more attractive

2) Take on the job of advertising / marketing it myself

3) Offer a "finders fee" (great idea!)

4) Be prepared for a long wait

5) Or maybe consider renting

Again, thanks very much I appreciate the replies.

Regards,

JL-T

[Loptr]

Childish attacks aside, the assumption that there is any correlation between the property market in Arizona and Chiang Mai is just silly...

[Jai Dee]

Topic closed pending moderation.

/Closed.

/Edit - Topic re-opened.

A number of off-topic posts completely derailing this thread have been removed.

Edited May 8, 2015 by Jai Dee
Thread cleaned up

[mr chow]

BUBBLE

[worgeordie]

I know of 4 house sales just in my Moo Bhan in just the last few months,all bought by Thais,

which dispels the myth about Thais not wanting to buy 2nd hand,one sold for 2M nothing

special at all,an other two for 3.8 M and 5,8 M,and the house next door to us sold for 15M

and the businessman buyer promptly knocked it down,nothing wrong with the house,it

was the land he was after, he is now building a new house to his design at 15 M +.

Not one of these houses was sold by an estate agent,just through word of mouth and

signs on the gates and electric poles,and one by the maid who worked in the house,

she found a buyer and got her 3%,

Its all about location,you can get a better price,sell faster,but not if you bought your

dream house out of the way and are now trying to off load it,at some telephone number price.

regards worgeordie