Estate agents with multiple properties on the same street

Looks like sellers are beginning to get nervous about this. From today’s Irish Times Property Supplement Q&A:

Link: … 03433.html

Won’t someone please think of the children??? :stuck_out_tongue:

Conflict of Interest?..Rules preventing this? God help us. Is this the sort of total muppetry we are dealing with?

Please tell me this is joke.

Panic is starting to set it!
If you want to shift their house they will just have to bite the bullet and decrease the price further. Nothing the estate agent can do about it, if their are no buyers.

The only reason houses are not selling is because they are too expensive, when will people get this?

It’s more the banks won’t finance it really…

If people could still get the money on a 40 year mortgage or interest only, I’d say we’d still be seeing sales…

They’re too expensive for investors which is another thing entirely…

The only solution here is a NO.1 haircut and do it quick before the next rate rise in sept. :wink:

Tend to agree with The Unwelcome Guest when he says that the reason property isn’t shifting is more banks not providing the finance than Joe Public being willing to pay in ar around the “going rate”. We are a property obsessed lot and lots of folk have stronger powers of emotion than intellect when it comes to this type of thing. I figure that the Gov, Banks, EA’s etc know there’s a very hard road ahead but a lot of the eager public are only coming to. After the so called stamp duty uncertainty is exposed for what it is, along with another rate rise, then I think the penny will finally drop with lots of these folk.

When will they - the big question. At the moment, very few vendors are reducing asking prices and this has, to a certain extent, been backed-up by Soma’s most recent release. Also, many people believe that this stagnation is as a result of the ‘stamp duty thing’, which is, to an extent, correct, but even when the stamp duty reforms are seen to have little or no effect, will the herd then turn to some other straw?

On a seperate issue, IMO, rents are definitely falling compared to the levels earlier this year and I have seen properties in D4 not being let for weeks and even months.

I wouldn’t totally agree, I think the penny has dropped for quite a number of Joe’s. Banks are approaching people at the moment wondering if they would like to take out loans (I can attest to this). Agree we are a property obsessed lot. I believe that one of the reasons that FF did so well in areas like Kildare Nth&Sth, Meath, Louth etc is that many people in these areas are up to their eyeballs in debt and they are very worried about long term job prospects. The next ECB rise will be the nail in the coffin as there won’t be any other get out of jail cards left after Bertie and Co ‘fix’ SD.

It’s true - irish banks are still a ways behind their spanish brethren when it comes to craziness. 2 seconds on google found me a ‘youth mortgage’ which offers:

  • 40 year term
  • Interest only for the first 10 years
  • 97% financeIt’s available to anyone under 35.

I’m sure there’s worse if i looked harder.

Banks will always want to give out loans.

They want to make money, it’s kinda their raison d’etre.

My point is about the size of the loans, they are clearly not financing the party anymore, certainly not at the higher end of trading up but are quite willing to try and tempt people in to take out the max mortgage they are prepared to give out in the interim.

If they were financing the madness than AIB wouldn’t be predicting 2% drop this annum, these interests own the tap and they are clearly turning off the flow.

There’s been a substantial move in banking away from the old days of the prudent banker into a much more sales obsessed creature that’s basically like a ‘jacked’ up EA.

These guys believe in the never never and the long turn is sometime after next year’s bonus cheque clears. This has coincided with the credit splurge.