EA's : Spinning has restarted

Have a read of the brief description

daft.ie/1410104

well he’s right

following the release of the government numbers the other night, there is no uncertainty about the nation’s finances…we are certainly fucked beyond repair! 8-

I was listening to Newstalk this morning and some clown “Economic Advisor” to an EA was saying how FTB’s would now only need to spend 40% of their take home pay servicing a mortgage. He was spouting this as a great development!!!

Newstalk is unreal for the VI shite, only 40% of your takehome pay on your mortgage, brilliant!!! :angry:

Someone from Sherry Fitz did a piece to camera on the main news last night blatantly stating that property prices will start to rise, and they will do so faster than ever before. Have these people no scruples?

Really!! That is unreal, here is something SHerry Fitz said else where;

Definitely no marbles.

New Bullshit Deposits Found

Dublin, Ireland. 3/10/2008
When stockpiles of EA bullshit started to dwindle earlier this year it was claimed that Ireland may have reached Peak Bullshit. Now however a new deposit of EA Bullshit has been found and according to analysts it may be the biggest pile of bullshit ever found on Irish soil.

A spokesperson for Sherry FitzGerald, one of Irelands leading producers of bullshit believe that the new deposits could provide up to two years worth of crap.

“This is fantastic news for us, we really were scraping the bottom of the barrel recently, and we had cut back on press releases (one of the main uses for bullshit). We now think we may be in a position to produce a couple of press releases a week without a single word of sense in any of them.”

The Construction Industry Federation which runs the website Homefacts.ie are also believed to be taking a significant stake in the new Bullshit deposits. Director General Tom Parlon was excited at the discovery:

“We have been at a stand still since June 17th. That was the last time we had sufficient bullshit stocks to update our website. We hope to be back in production within weeks. Watch this space, we have some serious crap in the pipeline”

Bullshit industry experts have warned against over confidence.

“This is a significant development there’s no doubt, however as a nation we have become so dependant on bullshit that the newly found deposits may be exhausted in a very short time. The real challenge for the country now is to wean ourselves off bullshit and look at alternative sustainable sources of information such as facts and common sense.”

Meanwhile, protesters are drawing attention to the fact that this rich source of Bullshit has been handed over by the government to vested interests with no benefit deriving to the taxpayer. A spokesperson for the “Shill To See” group even suggested that this “giveaway” might actually cost the taxpayer in the long run.

“This Bullshit deal is incredible. Taxpayers money is being put on the line just so these crooks have enough bullshit to stay in business”.

Spinning is irrelevant if the banks *still *dont have the money to give out.
In fact spinning is practicially always irrelevant, because (most sane) people buy based upon what they can afford, not on hype or advertising.

They view a number of different places, then go for the one that represents the best value to them. A sign in the garden, a slot on myhome and daft is all thats really required.
The effectiveness of newspaper advertising, brochures, ‘economists’ comments and other forms of ‘selling’ is low to non-existent.

:smiley: :smiley: :smiley:

At least EA’s have the excuse that they are thick, bankers do know what they are doing and are culpable for their actions.

It does sound unbelievable; I wouldn’t have believed it myself except I heard it with my own ears.
Interesting, it’s not available now on any of the Six One snippets available on the web.

yep, it’s all starting up again, girl in work this morning saying “oh property is going to go up again, it’s great” :angry: I couldn’t stop myself saying something about a bailout for developers but it wouldn’t last long (I usually just go on a visit to a tropical island in my head around this kind of comment but couldn’t stop myself in the face of everything this week :open_mouth: )- the reply was “I don’t care as long as someone helps my (estate agent) father to get rid of his estate of houses!”. And this is the attitude that has thrived for the last few years, I had hoped that this was ending as this kind of crowd had got fairly quiet the last while. Look’s like its back to listening to shite again for a while!! XD

Late last year I had to move for work purposes and was lucky to sell my house - at a medium reduction in price, I had bought and sold out of necessity and not for profit - After fit out, mortgage and fees I pretty much broke even. I went to buy a new house (new build because of stamp duty) and put a booking deposit down, I had mortgage approval in place, as this crisis escalated the bank rang they had revisited my approval and because of rising interest rates the approval was revised and I was offered less money for more (if you know what I mean). I pulled out of the house and decided to rent for the first time. The EA came back to me with a reduction and again I put down a booking deposit - but because I was renting at a reasonable price and saving at the same time I changed my outlook in regards to the price of the new house. In 05/06 it would have been viewed as a great deal, but with the freedom of renting and the affordable rent along with the current instability I decided that the mortgage payments looked frightening, double the rent - especially if one couldn’t foresee two years ahead. I sat and calculated my income (75k gross and take into account tax relief for single parents), savings (77k), outgoings and age (42), circumstances (single mom 2 kids)and what I came up with was a price around 50k less then the current asking price, at any more then this I was stretched and potentially vulnerable, not a situation any one wants to find themselves in, particularly with two school going kids. I have a great pension plan that I started at 18 and is overall (22 years) performing well, I had a meeting with my pension advisor recently and even though last year, next year and possibly ( in the worse case scenario )the next 3/4 years will take a hit the fund is still very much in plus for me rather than minus and which would offer me a good standard of living should I live until retirement, should I die beforehand, then I have made more than adequate provisions for my kids. I am, merely looking for a house to live in. The EA came back to me with what I would call a “token” reduction - not nearly meeting my affordability and I explained to him my circumstances. He told me that I could speak to “his guy” and tweak a few things along with renting out a room, he also assured me that rates would come down and that I was “mad” to rent because it was dead money. The other issue is that the house I am renting was up for sale, I spoke to the landlord and he explained that as he couldn’t sell it that he needed to look for a longer lease (because I thought this was short-term, and he thought he would sell we agreed on a month to month lease), now he really needs the rental income -more he needs the security of it - and who can blame him, so he gave me a deadline - and I passed this to the EA, it passed very recently (couple of days ago) and I was allowed to walk. I’m not unhappy, more confused as I have been browsing this site and along with every bone in my body thought that prices would become affordable - not rock bottom cheap - not to see anyone go to the wall, but just more in line with the average Joe. This isn’t the case and I wonder just what the state guarantee has guaranteed?? apologies for the long post, views would be appreciated/ Thanks

onestepbehind, get the property bee property-bee.com/ add on to your browser (for firefox only, I believe). This will let you keep track of price drops that aren’t flagged on EA adds on daft. Also, you can do a search of the areas you are interested in on the pin. In google search, type:
search:thepropertypin.com xxxxxx
(where xxxxxx is the area you are interested in and not xxxxxx’s of course…).
This should bring you up the price drop forums of any places you are interested in if someone else on the 'pin is tracking them.

This may sound a little sexist, but it is not intended to be. You may want to get a man to do your negotiating for you. By reputation some of the estate agents are quite sexist and believe that a female fool and her money are easily parted. They may also believe that you are desperate to buy due to you being a single mother. Insulate yourself as much as possible from the negotiating process if you feel it is not going well for you, or the area you are looking in is particularly backward (like Dublin 6, for example). You can also take positive steps to show the EA that you know what you are talking about - ask him how much the house would rent for, then tell him that the price doesn’t justify the yield, tell him the Central Bank expects prices to drop by another ten percent next year, having already dropped 20% from peak etc.

Having said all that, I haven’t bought a house in years. So my preconceptions/advice may be a bit dated!

My final bit of advice is to copy your question into a new thread in the “Sell, Buy, Rent” forum - it’ll get lost in this thread.

I have posted the this on sell, buy,rent forum under the heading “situation facing buyers”. I agree with your views regarding being a single mum and trying to negotiate ( I see it everyday) with the EA. I would not have considered myself well versed in the world of economics, but given what has transpired the last weeks I informed myself well, read newspapers, looked at previous years prices, logged onto websites such as this and did a financial health check on myself. The irony is that while my “happy price” was 50k below the developers asking price, my “head price” was another 50k less. I have taken your advice regarding property bee and am downloading as we speak. Thanks for the advice - much appreciated…

Yes, totally agree, no logic with these people, a few people smiling and nodding in agreement with this girl (we’re saved, good ole Fianna Fail! hurrah mentality!) —hello!!!WTF!!Earth to anyone with a brain!!! |O Thank God for the pin --being surrounded by property zombies can be a bit much at times! :unamused:

?? ReadbetweenTheLies - either I’m in the wrong forum or you are?

was replying to Snarrig but forgot to stick in quote, sorry for confusion :blush:

Phew - lol - thanks for clarifying…