Over valuing property can be like 'mugging old ladies'! The market has gone peculiarly quiet in places, buoyant in others, but in general, prices have remained fairly static.
There will always be an element of 'negotiation value' added to the asking price and also 'enthusiastic value' to help things along at the valuation, but some of the prices I am seeing are eye wateringly over the top and that is distorting the look of the market.
Rightmove, Zoopla and On the Market are riddled with reduce reduce reduce! Whatever happened to using the 'moment of impact' and being 'fresh to the market' as an asset to the property?
The downside to this frivolous activity is that people are losing their onward properties and quite frankly, dreams are being shattered.
Some unscrupulous agents are blatantly lying to gain the instruction, not a lot different to 'mugging old ladies'!