Tuesday, January 27, 2009

An antidote to doom and gloom

On the road a lot today, to Ballymacarbry, The Nire (from whence the above pic), Newcastle and Cahir. Lots of homes being valued for potential sale, some of them very nice! The owners coming to the market now are, in general, well aware of the market conditions and are willing to discount heavily in order to sell. This should make for a much more productive Spring selling season. There are buyers, with access to finance who will buy if they think that fair value is being offered.

Against all the forecasts of doom and gloom, we have continued to sell 3 & 4-bed semis to first-time buyers. These are priced at €185-210k and in the right areas, have sold well. Last week we agreed a sale of a larger house, the first sale of a home for a figure in excess of €400k in this area since before Christmas, again proving that correctly priced homes will sell. This end of the market had been at a total standstill for the last number of months, but we see a growing number of enquiries from those who need to trade-up for various reasons. They now see that we can sell their smaller home, so they are looking at the decreased list price of larger homes and finding that they can now afford to move.

As has been proven, whatever the Government may or may not do (to date they have done nothing!), the market will eventually decide it's own fate. It has been somewhat "broken" for the last few months, but is showing signs of stabilising at the lower level now seen. At a local level there is little point in getting too upset at the economic situation, we just have to adapt and move on, hoping that someone in the current administration will have the knowledge and courage to make the right decisions. If you can only complain, why not stand for election yourself?

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