Irish Times mention Irish Mortgage Brokers, 9th May 2017

We were mentioned by the Irish Times in a piece about mortgage arrears. It was in conjunction with a talk given to the Housing Agency on mortgage arrears. It quoted part of the talk we gave…

Financial adviser Karl Deeter told the conference his research puts the non-engagement rate at closer to 80 per cent.

Mr Deeter said the courts are “predisposed” towards borrowers, and that people are given many chances before they lose their homes.

“There’s three magic rules if you want to lose your home: pay zero for a long period of time, don’t engage with your lender – and then don’t show up to court,” he said.

“These three inputs were central to virtually every case of possession we saw.”

Mr Deeter said that according to his research, more than 90 per cent of distressed borrowers who engaged with their lender were able to work out some sort of deal to avoid repossession.

 

Read More

RTE History show features Irish Mortgage Brokers

We were really pleased to take part in a piece on RTE Radio 1’s ‘History Show with Myles Dungan’. The topic was historic property cycles and how the most recent crash was big news to most of us, but was far from the most enduring (which lasted about a century).

Karl Deeter of Irish Mortgage Brokers was on with Frank Quinn from the Blackrock Further Education Institute, the piece was based on their paper which had been presented to the Statistical and Social Inquiry Society of Ireland last October (David Duffy formerly of the ESRI and now of Property Ireland was also an author on the technical paper).

Read More

Today FM ‘Last Word’ speaks to Irish Mortgage Brokers, 27th April 2017

Matt Cooper had several guests in to discuss the new proposal for 800 sites owned by the government to be released in order to provide new housing.

There was  Jim Bainam from the Department of Housing, Karl Deeter from Irish Mortgage Brokers and Sinn Fein TD Eoin O’Brionn.

There were differences of opinion in terms of the ‘how’ regarding the sites, in terms of ‘how they are delivered’ via housing bodies, local authorities or privately, but all of the panellists were positive about a move to increase housing supply.

The main thing to remember in our view, is that it doesn’t really matter who builds what because the local authority remain the tax authority on all housing so they can get the housing with no capital outlay and then capture the property tax in future years if a private developer does it.

Read More

Q102 Drive at 5 features Irish Mortgage Brokers, Wednesday 26th April

Scott and Venetia had us on their show to discuss the property market and to go through some of the things that are affecting it.

They also found out how much he paid for his last haircut and a few other unusual things that you don’t normally hear on radio!

Read More

RTE Sean O’Rourke speaks to Irish Mortgage Brokers

Sean O’Rourke had Karl Deeter on his ‘Today’ show to discuss planning laws and how a change in them could result in up to 4,000 additional Dublin City homes at a very low financial cost.

The idea was to reduce the regulatory burden and inefficiency of planning, and (in Karl’s opinion) to also consider some reductions in the standards because applying modern standards to old buildings is like applying modern car safety rules to old cars.

The clip is a good debate showing the good and bad facets of this argument.

Read More

The housing market in Iran

This is a guest blog post covering some topics on Iranian housing, it was contributed by MNA.

House Prices: The norm in Iran for valuing any real estate is by location and meterage of that location so for any individual trying to see what the market is for buying or renting, all you need is to look at any particular area and there are plenty of ways of cross checking and seeing if the price is right.

Looking at pricing via advertisements helps, as does speaking with the local estate agents who will tell you  the going rate before you start your search so that you would have a good idea of what you can afford and where you can live.

The Local currency is very volatile and everyone is worried of that, but in reality all the trading is conducted with USD or Euro so no matter what happens, when you are trying to price an item it is always reflected on the FX rate, as all expensive ticket items would have an important role in the economy. http://www.xe.com/currencyconverter/convert/?From=IRR&To=EUR …

Read More

The housing market in Iran (old Persia)

In Iran houses don’t always trade in the market the way they do in other countries, historically land and houses are passed on to children in the family to protect their wealth and assets (it isn’t just an Irish phenomenon).

Iran as we know it was changed from being called Persia to Iran by Reza Shah. He changed the name as he was in power trying to follow the footsteps of Ataturk as they were great friends and he used to look up to him and wanted to modernise the country.

Subsequently, his son Mohammad Reza Pahlavi at a very young age was placed into power to become the new King of Iran, he had studied in Switzerland and has always lived abroad and wanted to bring this idea of modernising and Europeanise and Americanise the country and the whole region.

From the early 1920’s when oil was explored and money was pouring in, the economy was booming and the fact that Iran is and always was a very rich country helped developed the infrastructure at an extremely fast speed, …

Read More

Where we are in the property cycle and what to expect next

Property cycles have always been a source of fascination for me (KD) and it’s worth briefly mentioning where we are now and where we are likely to go.

In the past I have always said that there are two broadly distinct phases, the first is a post-crash recovery where you see prices come back then rise fairly quickly before stalling.

The ‘stall’ is a mid cycle phenomenon where due to prices having risen you see a lot of buyers back off or take stock of the position, the memory of ‘we saw something like this before’ is still there to haunt them.

After that you get into the second phase where the upward momentum recommences but this time, having seen that the stall was somewhat ‘false’ (in the sense that it is perceived that way, it doesn’t actually have to be that), prices rise up even quicker.

This is unexpected (to some) and evidence that you have to ‘get in’ on the game. It brings us to the second phase which is the classic ‘boom-bust’. This eventuality is inevitable in …

Read More