Dear Sir,

I watch with increasing dismay, as we dig ourselves further into the recession.

I sell houses: the valuer looks the property over and asks for recent comparable evidence (valuers need their 3 recent comparable sales to justify the sale price)... of course, as little has sold in the last 6 months, there is little comparable evidence. So, they knock the price down, the seller cannot take the 'hit', as it is unrealistically low, the sale falls through, the lenders don't lend, the market spirals down...

The valuer does not seem to realise that the property is already 20% cheaper than last year and that the agreed price follows maybe 20 to 40 viewings, so truly reflects the market NOW.

If you are in a hole, stop digging...

Yours faithfully

Paul Bonett