Originally Posted by kempo23
But sellers are still looking for too much. Unless they lower their asking prices they will never sell. I have just returned from Cyprus after looking around for a property (I am a cash buyer), I was shocked to see the blinkered view people have on the property situation. Too many people are 'dreaming' about the gas find as though it is some sort of saviour. Listen to the experts, they say if it does happen (still an 'if') it will take at least 7 years before any benefit is seen.
I agree that many sellers still want too much for their properties and we have to work hard to convince them that you can no longer expect to make a profit when selling a house. Most sales we have made in the past year or two we have had to work hard to convince the vendors to take offers well below their asking price, trying to make them seethat they could still be on the market for a long time if they are expecting profits. Most sales we make these days are cash buyers and we have to remind vendors that when they get an offer from a cash buyer they would be follish to let it slip through their fingers.