Posted by the BBC Thurs. 11 June 09.
http://news.bbc.co.uk/1/hi/business/8095612.stm
This story accords precisely with the issues raised in this blog earlier in the year. There’s nothing much more to say except that solid curbs need to be imposed on unrealistic asking prices before the whole sad situation continues recurring, again and again.
Extract:
Negative equity among home owners [...]
Archive for June, 2009
Agents are desperate for more property to sell and are over exaggerating asking prices to get there hands on more houses.
Unfortunately they are translating their fear to the sellers who have become discouraged with the time it takes to to get their properties sold, so they just give up on selling altogether!!
The 3 D’s: deaths, [...]
We’re looking for someone to help re-define what people want estate agents to do:
Current Definition:
A person who tries to get the best possible price for a house whilst acting on behalf of a property owner, usually rewarding themselves with a percentage of the price they manage to achieve on completion of the sale.
Problems:
This remit permits [...]
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