Wednesday, Dec 10, 2008
Roll up! Roll up! get your bargains here
Times: Estate agents offer ‘bargains’ in Christmas sale
"The owners of more than 7,500 properties have been encouraged to slash their prices by as much as 30 per cent – although some have trimmed by as little as 3 per cent. "
"Countrywide says that the Christmas bargain scheme, which it has been planning for several months, was intended to “kick-start local property markets” and was not prompted by Standard & Poor’s recent down-grading of the group’s credit rating. S&P asserted that Countrywide would run out of cash by the end of 2009."
Sure - we believe you
Posted by growler @ 07:17 AM (611 views) Add Comment
4 Comments
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1. yorkshireman said...
This Christmas bargain scheme will not achieve the result that Countrywide are hoping for or expecting. Once you cut the price of any product, that becomes the accepted price. Once you take that brick out of the wall (pun intended), the price falls even faster as perception is reality. Then , it becomes a much faster downhill race. Maybe Countrywide are going into the lending business too, as none of the other lenders are interested, particularly as they may see the value of their present securities falling by 30%. Not much of a kick start for the property market, more like a kick into touch.
2. Cheekie Charlie said...
Wait until you can see the white of their eyes!
3. Hip Hater said...
Property prices are set by a combination of a) the amount the buyer is willing to pay and b) how much he is able to borrow and c) how much he can get for his own property
This is just headline grabbing to get punters in through the door. And it's doomed to fail
4. montesquieu said...
Is there really a place called Gascoigne Pees? (As opposed to outside a late-night chippy in Sunderland).