The Autumn selling season is here, and the Irish Times Property Supplement has returned. The sentiment is remarkably negative though.
Initial quote points to the beginings of market PANIC I feel, as I am sure this situation is replicated many times over across the country but going unreported.
Q2 09? Wow, that’s a long way out, a year and a half. I wonder what they think is going to change in the meantime to cause 2009 to be an uptick? Maybe that is when they expect rates to start dipping again?
Or perhaps they just have to give a date when things will improve and so pick a date so far out that no-one will remember it when the time comes.
You forgot the answer to the first bit
Bet the agent will love the IT for that advice
…they’re hoping that there just might be people desperate enough to sell who will take the bait. You’re not (yet)
Reading between the lines October/November could be the time when panic begins to kick in.
Another month or two and i think the crash will be “public” knowledge.
Yeah the agent produces two buyers hot to trot from a shrinking pool and what does he/she get in return bleedin pressure. Agents are probably busier now looking for sellers who will (can) sell to the small number of buyers still out there.
Indeed we have not heard from murrayo in a while.
I’m still here!!
I have however, been off on the holiers for a few weeks, but lads - sales figures are REALLY bad.(for us EA’s!)- Im in a good area of Dublin.
I (luckily) have made plans so will not affect me personally too much, ie. I won’t be here
With a few good / lucky purchases a long time ago and some excellent advice from this site , along with my own view ‘at the coal face’, I had made up my own mind on what was coming and sold all the property I had (in Ireland) Sept 06.
Great to see ‘the pin’ seems to be growing in popularity!
Foreign climes beckon is it murrayo?
Mrs Murrayo & I are (hopefully) off to sunnier climes . I have already been offered a job, and she has a ‘job in demand’ - so all being well we will be off in Jan/Feb 08.
A fair bit of equity from the sales in Ireland a few investment properties abroad (purchased long ago thank god!) should keep us going nicely - not in the lap of luxury - but enough not to worry too much…
In the EA game, unless one is at management level or above (which I have been for some years now) it is a very hard business for your average negotiator to make a living- the lads have had a good run for the last few years, but now the ‘cat is out of the bag’ so to speak, these guys will be let go and the older , more experienced guys (like me) have to get involved with all the shitty work within the office/company , with little or no commissions coming in. So Fe*k that basically !!
I will have a lot more time to post then - from the beach!!
Best of luck to ye.
Somebody has to do well out of all this stuff!
Somebody change that mans username to CannyMcSavvy or SavvyOCanny
Excellent timing Murrayo and long may ye all enjoy the sunnier climes and cheaper restaurants and giz a book on the ‘dark underside of the Irish property psychosis and how I survived it’
The Times today does seem to be quite bearish -
0.25% IR increase in September? I think so …
I really have considered writing that you know !!!
Not so sure about the ‘savvy’ bit - when I bought the first few properties abroad (YEARS ago) I was p*ssing in the wind to be honest - so just lucky there!
The recent ‘sell out’ was more calculated , but I’m an older & wiser owl now! (and had great info from this site TBH)
I really think that this coming ‘selling season’ is knackered -
with a capital ‘F’.
One or two more 0.25% IR hikes will really hit home to many people - scary stuff really…
I think that the press will turn on property in a short space of time , between now and X-Mas. What do you lot think?
The Dublin press will because the sept ‘season’ is a Dublin thing, they will then shut their gobs around Feb hoping for the ads to pile in again.
The regional press will be far more circumspect . The rest of the country only really has a spring and early summer season .
You can quote me freely Murrayo as long as you write a chapter on the suppression of reason and banning of the voices thereof on AAM …and you invite the pin denizens to the pissup when you launch the book
I would have that book ready for xmas 2008 , pissup in October 2008 I should think. Thats your deadline my son.
Fair point! (Us Dublin dwellers get caught up in our own bubble I think!)
Good to see the professionals turn to the great unwashed pf the Pin for a heads up Youâ€™ve got to give us a quote for the friontpage! Something like
â€œI got out, You Can tooâ€
I know I said I’d never make any money out of the pin.
However I will be flogging my own artist interpretation of the events and mania that is the Irish Property Bubble, all money goes straight into the pocket of Open Window
No one else gets a PENNY!!! MWWHHAHAHHAH!!!
So in celebration of our most esteemed members escape I felt I had to issue a special edition Murray “O” Mug to commemorate the event.
(this was going to be a T-shirt, I mentioned it to TUG at the weekend but with the recent revelation that is more or less the slogan I proposed, I thought why not this occassion!)