Auctioneering firm Down Sizes -[First of many]

md23040

With Estate Agents in retreat to the back alleys in order to survive, when are the banks and the developers along with them going to realise that serious haircuts to present property values must be undertaken quickly. That is back to affordable values in order to entice buyers back in.

Already in the Northern Ireland, prices of developments are being slashed 40%-50% and advertised with banners such as "We give up - we're slashing the price", but so far in Donegal or further afield there hasn't been a peep.

When are all the vested interest group going to realise its game over as far a concealing the inevitable??

MarkR

md23040 wrote: »

With Estate Agents in retreat to the back alleys in order to survive, when are the banks and the developers along with them going to realise that serious haircuts to present property values must be undertaken quickly. That is back to affordable values in order to entice buyers back in.

Already in the Northern Ireland, prices of developments are being slashed 40%-50% and advertised with banners such as "We give up - we're slashing the price", but so far in Donegal or further afield there hasn't been a peep.

When are all the vested interest group going to realise its game over as far a concealing the inevitable??

Haircuts. Serious business.

md23040

Seriously though - many of these people could be fondling your follicles soon in a local hair salon. If matters continue.

Grammatically in this sense haircut refers to "price reduction" and not the restyling or personal grooming of your barnet.

muffler

You haven't obviously seen the price reductions in certain areas.

And what do the banks have to do with this?

In fact its a national issue so why be so parochial about it by naming an individual auctioneering firm? Maybe a thread in the accommodation & property forum would be more appropriate.

md23040

muffler wrote: »

You haven't obviously seen the price reductions in certain areas.

Certain area's yes - along the Greater Dublin Belt. But not to the same extent in Donegal

muffler wrote: »

And what do the banks have to do with this?

Are you serious in that question?? The banks and money lenders would rather sell their children than allow house prices to deflate. Taggart Holdings for instance of Derry owns substantial lands in <SNIP> and has just gone into receivership owing £150m, with Price Waterhouse Coopers Acting- now rather than Ulster Bank and BOI selling the lands, the properties in question are being reported to being moved to <SNIP>. And following all the going on with the banking chaos, is this appropriate or satisfactory??

Today's Irish Times on Taggarts - http://www.irishtimes.com/newspaper/finance/2008/1022/1224454452729.html

muffler wrote: »

In fact its a national issue so why be so parochial about it by naming an individual auctioneering firm? Maybe a thread in the accommodation & property forum would be more appropriate.

Whether you like it or not, Donegal is very tied in links to the North. And even in Derry at the weekend, there was a 50% property fire sale. Look at the number of Northerners who purchased in Muff etc and other area's - it's interlinked. So why should developers have to cut substantially on one side of the border whilst on the other its being propped up by various interest groups?

<SNIP> as no one wishes anyone misfortune, would it not be better if all parties concerned copped on and dropped prices to where they will inevitably end up going. To get into perspective, at the weekends house sale in Derry the queue was round the block. So there's an appetite for purchase if the price is right. Surely in Donegal this would be in everyone’s interest rather than trying to disguise the obvious. Everyone could have work to do, without having to retreat down back alleys with cost saving etc. Thats the kernel of my thoughts...

muffler

You are new here (or are you) and I suppose I should welcome you to the forum but I would like an answer to a question I asked previously. What sort of problem have you got with an individual auctioneering firm by stating this:

<SNIP>

Why name them? What makes you say they are "skulking"? Can you prove this? And you are also sending out a very bad signal by saying "Back Alleys" as if it was a rat infested, run down ghetto. How do you know that a move by any firm is not for business reasons?


Again you alluded to auctioneers in a poor light with this:

With Estate Agents in retreat to the back alleys in order to survive

and this

all retreating to the background

.


Why the aggressive attitude and what do you hope to achieve with this thread?

And I will tell you one thing before you answer - I am not happy with your attitude by naming an individual firm. I will await your reply and we will then see what this is all about.

md23040

muffler wrote: »

And I will tell you one thing before you answer - I am not happy with your attitude by naming an individual firm. I will await your reply and we will then see what this is all about.

It is anecdotal evidence of a down turn in business generally and pretty evident in the Finn Valley considering its prime location <SNIP>.

Everyone is entitled to a livelihood, estate agents, builders, solicitors and any other ancillary business in anyway connected. All are in a log jam presently created by house prices that no one are willing to pay. If prices were more realistic it would suit everyone and the threat of down sizing of any such business would be allayed.

In Northern Ireland developers are getting rid of property and moving the market along, surely this would be more welcome - rather than doing nothing and the market for all concerned continuing to limp and spasm.

muffler

Right, I asked the questions to give you the opportunity to explain yourself but you refused to answer.

Thread edited and locked and infraction given.