A while ago I bumped into some near neighbours whose bungalow has been on sale for 9 months. They have had three viewings and no offers in this time but thet have no plans to drop the price because, and here I quote, "That is what the agent said it was worth".

Similar properties are in the paper at 20% less and in practice are realising 25-30% less than our neighbours are expecting to get. I think they might be in for a long wait!