Is there any law to stop an EA advertising a property at an unbelievably low price?

[whizzbang]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

3 times a consultant general surgeon's income, a shelf stacker's income or rental income - just curious?

3 times the salary of the person buying the house. So this means, chockingly I know, that a consultant surgeon can buy a nicer house than a shelf stacker! Maybe shelf stackers can't even buy a property at all until they find themselves a better job! *Gasp!*

 

[demoivre]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

3 times the salary of the person buying the house.

So flawed it's comical - The consultant should be paying the same multilple of his salary for the detached house beside Blackrock clinic as the consultant buying the detached house beside Wexford General hospital !! Shooting the breeze is this way ----------------------->>>>>

 

[whizzbang]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

So flawed it's comical - The consultant should be paying the same multilple of his salary for the detached house beside Blackrock clinic as the consultant buying the detached house beside Wexford General hospital !! Shooting the breeze is this way ----------------------->>>>>

Perhaps the consultant in Blackrock should get paid more than the consultant in Wexford? Local pricing based on supply and demand and all that.

 

[demoivre]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

Perhaps the consultant in Blackrock should get paid more than the consultant in Wexford? Local pricing based on supply and demand and all that.

lol . Still can't see how ridiculous it is? Using your theory the surgeon in Blackrock clinic would pay the same price for a one bedroomed apartment in Blackrock as he would for the detached house in Blackrock ie 3 times income!!

 

[MugsGame]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

Is there any law to stop an estate agent advertising a property at an unbelievably low price?

No, but perhaps there should be more regulation of property advertisements and sales, to stop EAs and reckless sellers destroying the wealth of this country.

If you feel strongly about this, setup an Irish Home Owners Association and work with the Irish Property Owners Association and the Construction Industry Federation to lobby local and national politicians to further legislate this area.

Price controls would stop other sellers achieving maximum value for their house, but at least if sale values were required to be public we would know how rediculous some of these asking prices are. A single national database of all properties for sale would also assist people trying to estimate the true value of a property and help buyers and sellers weed out unrealistic asking prices.

 

[foghorn]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

Price controls would stop other sellers achieving maximum value for their house, but at least if sale values were required to be public we would know how rediculous some of these asking prices are. A single national database of all properties for sale would also assist people trying to estimate the true value of a property and help buyers and sellers weed out unrealistic asking prices.

So, you want house owners to band together to set up a pricing monopoly?

I really have read it all now.

 

[whizzbang]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

lol . Still can't see how ridiculous it is? Using your theory the surgeon in Blackrock clinic would pay the same price for a one bedroomed apartment in Blackrock as he would for the detached house in Blackrock ie 3 times income!!

oh sorry I missed your point, I was working on the assumption of the "Best property" they could afford, I see what you mean now

 

[MugsGame]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

So, you want house owners to band together to set up a pricing monopoly?

Since you've "read it all", can you point out where I said that?

 

[curiously]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

No, but perhaps there should be more regulation of property advertisements and sales, to stop EAs and reckless sellers destroying the wealth of this country.

Clearly there should be a sarcasm smiley after the above comment.

 

[mainasia]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

Seems like this is not a wind-up, unbelievable. Seems like she got houses mixed up with milk bottles.

 

[iguana]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

OP, it's certainly not illegal for your neighbour to market the house at a lower price than everybody else's. But unless you are in an estate where the other houses are markets at €250k or less, then the €50k drop is not very much and is unlikely to result in a sale.

However if you and your other selling neighbours have agreed not to drop your prices then that is, strictly speaking, a price fixing cartel and quite illegal. So while the neighbour you are upset about isn't breaking the law, you could be.

 

[angela59]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

"The market sets the price not the owners, an owner can ask for whatever they want, but to actually sell an owner must accept what a buyer is willing to offer"

A house only sells when both the Vendor and the Purchaser comes to a mutual agreement on price and not until then! If the price offered by the purchaser is not agreed by the vendor then there is no sale.

Angela59

 

[curiously]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

"The market sets the price not the owners, an owner can ask for whatever they want, but to actually sell an owner must accept what a buyer is willing to offer"

A house only sells when both the Vendor and the Purchaser comes to a mutual agreement on price and not until then! If the price offered by the purchaser is not agreed by the vendor then there is no sale.

Angela59

This post will be deleted if not edited immediately, talk about being pedantic.

 

[ascottdub]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

Merc1, what a silly question to post.

Owners can price their house at what they feel is right. I'd bet that your neighbour is getting with the times and has put their price tag lower, to guess what? SELL THE BLOODY THING. I'd also put money on it, that none of the houses are worth the asking, and they in time will lower the price again. Deal with it. The days of robbing people blind are OVER.

Price fixing, certainly busted in your estate and I think some of it's going on in Seabury, Malahide too.
There was a house on there that was cheaper than all the rest by 50K, and of course, now that it's a buyers market, I phoned.
Checked on the daft this morning to see if anything had changed, and nothing new.

I went back on the site this afternoon, and the same house has gone UP 50K. And, it's a house that needs updating.

In these times, a fecking disgrace. Bet the interest will stop now.

Buyers will be shopping for a bargain; and sellers, the only way to sell your property is to price to sell. In some cases, it could be 100K less than neighbours.

It will depend on what can & cannot be afforded

 

[Senna]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

A house only sells when both the Vendor and the Purchaser comes to a mutual agreement on price and not until then! If the price offered by the purchaser is not agreed by the vendor then there is no sale.

Angela59

Thats why there is no market at the moment, one group is still in cloud cuckoo land and the others know it, i'll let you guess which is which. The buyers can wait, rent and save more, the sellers on the other hand have the properties for sale for a reason.

 

[MrMan]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

Merc1, what a silly question to post. Owners can price their house at what they feel is right. I'd bet that your neighbour is getting with the times and has put their price tag lower, to guess what? SELL THE BLOODY THING. I'd also put money on it, that none of the houses are worth the asking, and they in time will lower the price again. Deal with it. The days of robbing people blind are OVER.
Price fixing, certainly busted in your estate and I think some of it's going on in Seabury, Malahide too.
There was a house on there that was cheaper than all the rest by 50K, and of course, now that it's a buyers market, I phoned.
Checked on the daft this morning to see if anything had changed, and nothing new.
I went back on the site this afternoon, and the same house has gone UP 50K. And, it's a house that needs updating.
In these times, a fecking disgrace. Bet the interest will stop now.
Buyers will be shopping for a bargain; and sellers, the only way to sell your property is to price to sell. In some cases, it could be 100K less than neighbours. It will depend on what can & cannot be afforded

The market has changed but attitudes haven't. Vendors were in the superior position before in that they had the product that purchasers wanted and they intelligently sought to capitalise on their position and seek the highest possible price for their property, would you not do the same?
Purchasers are now in the superior position in that they are now have the product (cash). The only difference is that vendors will not simply drop prices to very low levels just to shift a house because there are too many factors to consider to simply do this. Purchasers always had the option of offering what they wanted for a property there was never a gun held to anyones head and they could simply walk away from a purchase. Sellers don't have the same options open to them.

The vitriol that is aimed at sellers from the good times is misplaced and hypocritical as buyers are nowing trying to squeeze as many %'s off of the asking price as possible. It makes sense whatever side of the fence you are on because everyone wants the best deal for themselves.

 

[MrMan]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

Thats why there is no market at the moment, one group is still in cloud cuckoo land and the others know it, i'll let you guess which is which. The buyers can wait, rent and save more, the sellers on the other hand have the properties for sale for a reason.

Yes some might have to sell others but more often than not you will see people reorganise their 5/10 year plans to accommodate the current market and decide to sit it out. It is costing very little to have your house on the market and when they are not getting the price they need you will see houses coming off the market rather than folding to pressure because simply they can't lower much more if any.

 

[MelF]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

Yes some might have to sell others but more often than not you will see people reorganise their 5/10 year plans to accommodate the current market and decide to sit it out. It is costing very little to have your house on the market and when they are not getting the price they need you will see houses coming off the market rather than folding to pressure because simply they can't lower much more if any.

Yes, Mr Man this is what I have done. While I wanted to sell my house, I didn't 'need' to, so I am going to hang onto it for another 5 or so years until the market at least gets back to relative normality. While the frenzied bubble wasn't normal, neither is the current 'coma'.

 

[curiously]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

The vitriol that is aimed at sellers from the good times is misplaced and hypocritical as buyers are nowing trying to squeeze as many %'s off of the asking price as possible. It makes sense whatever side of the fence you are on because everyone wants the best deal for themselves.

Ah would you get out of that garden - you're clearly having a laugh.

The last 5 years have been nothing but an orgy of profit taking at the massive expense of a generation. I don't know how anyone could be naieve or insensitive enough to apply such a simplistic view and compare a seller in the boom to a buyer in the recession.

All those sellers who won't face reality deserve every bit of vitriol going their way. They helped create a false economy which has resulted in Ireland Inc imploding (global crisis my This post will be deleted if not edited to remove bad language) yet they moan when a buyer tells them they're over priced - get real FFS

 

[curiously]

Re: Is there any law to stop an EA advertising a property at an unbelievably low pric

Yes, Mr Man this is what I have done. While I wanted to sell my house, I didn't 'need' to, so I am going to hang onto it for another 5 or so years until the market at least gets back to relative normality. While the frenzied bubble wasn't normal, neither is the current 'coma'.

I hate to break it to you but relative normality will result in prices a lot lower than current asking prices. Have a look around you - in case you hadn't noticed the economy is tanking, banks have tightened lending, jobs are being lost, we've a budget in April (probably another one in July) and people are getting wise to the con. There ain't no magic wand to waive all this away. And what's worse - (thanks to greedy ****s like Fingleton, Fitzpatrick, et al) the international markets know exactly how what a basket case Ireland Inc is so I wouldn't bet on international lending getting any cheaper anytime soon