Wednesday, January 25, 2012

The Market Doesn't Care How Much You Thought It Was Worth

'The fact that a seller needs a certain amount of money out of this is relevant to the home owner but not relevant to the market.'
Opening the doors to days of difficult sales
Augmenting the difficult financial and emotional pressures surrounding the vendors they deal with, the market's current downturn has, according to Albone, not yet registered with many. ''Buyers' expectations are still very high,'' he says. ''But the market has changed. And I don't think people have had the chance to adjust to that. They still want the same amount of money. It's been difficult trying to manage those people and tell them their house isn't worth that much.''
The market has been falling for more than a year. In Melbourne, specifically, it's been falling since December 2010.

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