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I thought the property market had collapsed out there?

I thought the property market had collapsed out there?

Old Mar 2nd 2009, 9:59 pm
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Default I thought the property market had collapsed out there?

so why is it I keep getting called about marketing jobs in the property sector? and here's the ridiculous part, they seem to be offering a lot more money than they were before!
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Old Mar 3rd 2009, 2:13 am
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Default Re: I thought the property market had collapsed out there?

Originally Posted by Cham128 View Post
so why is it I keep getting called about marketing jobs in the property sector? and here's the ridiculous part, they seem to be offering a lot more money than they were before!
They need good people to market the properties.........

A warning though - don't get a commission-based deal........ it's difficult to live off fresh air........... however good you are, you won't actually sell much at the moment.
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Old Mar 3rd 2009, 3:11 am
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Default Re: I thought the property market had collapsed out there?

This time last year anything with a pulse and walking upright was a 'property consultant/manager' in DXB/AD.

You probably met one in the UK this week 'do you want fries with that?'

Again, this time last year I was wondering had I missed some magical boat, and Mrs Bear was mentally adding it to my growing list of shortcomings, not having a portfolio of 3 or 4 properties that would ensure a life of milk and honey.

Bearing in mind the tidal wave of first payments coming due on multiple properties 'bought' at the height of the market in the late summer, and now worth perhaps 60% of original value, I can only imagine the sleepless nights that many are having.

Come and have a look and make your mind up - holidays from UK are cheap at the moment.

I can only imagine it would be like trying to sell water to drowning people.
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Old Mar 3rd 2009, 3:34 am
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Default Re: I thought the property market had collapsed out there?

That's a good post, B Bear. Neighbours of mine bought a property a few months ago, paid the first installment and are now considering cutting their losses, letting the property go and buying a new one as it has decreased so much in value. They stand to lose about 200k. Madness.
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Old Mar 3rd 2009, 3:49 am
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Default Re: I thought the property market had collapsed out there?

Originally Posted by Bambi in Abu Dhabi View Post
That's a good post, B Bear. Neighbours of mine bought a property a few months ago, paid the first installment and are now considering cutting their losses, letting the property go and buying a new one as it has decreased so much in value. They stand to lose about 200k. Madness.
It seems madness, but cheaper to walk away and 'lose' 200k now, because with a property that's lost 25% before you have started paying, now taking on the same house next door for 25% less means you are ahead on what you you originally paying - and you might get a mortgage for that as well!
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Old Mar 3rd 2009, 4:33 am
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Default Re: I thought the property market had collapsed out there?

...and yet some property agents seem to still have their heads in the sand....

I approached an agent and arranged a viewing of a property to rent. I arrived at the right time and waited.... waited.. and waited... until 2 hours past the agreed time. Each time I phoned the agent, she was only 10 mins away..

I actually managed to have a look around the place, as there were workers in the house, so phoned her up last week to make an offer for renting the place. She refused to take the offer back to her customer and, when I mentioned that I was unwilling to pay the agents commission, as she had done nothing for me, she hung up..

With service like that, is it any wonder that these parasites are penniless...
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Old Mar 3rd 2009, 5:20 am
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Default Re: I thought the property market had collapsed out there?

Originally Posted by TGFKASE View Post
...and yet some property agents seem to still have their heads in the sand....

I approached an agent and arranged a viewing of a property to rent. I arrived at the right time and waited.... waited.. and waited... until 2 hours past the agreed time. Each time I phoned the agent, she was only 10 mins away..

I actually managed to have a look around the place, as there were workers in the house, so phoned her up last week to make an offer for renting the place. She refused to take the offer back to her customer and, when I mentioned that I was unwilling to pay the agents commission, as she had done nothing for me, she hung up..

With service like that, is it any wonder that these parasites are penniless...
We had similar experiences, I went as far as telling one of them go forth and multiply due to his attitude.

There are some good ones though - we got a place from Dubizzle, happy with price and then the missus took great delight in ringing some of the less useful agents demanding we be taken off their list.

It seems a lot of landlords still have their heads well and truly wedged in the sand. I just wish we were moving in the summer - I expect there will be even better deals to be had.
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Old Mar 3rd 2009, 5:22 am
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Default Re: I thought the property market had collapsed out there?

Originally Posted by B Bear View Post
It seems madness, but cheaper to walk away and 'lose' 200k now, because with a property that's lost 25% before you have started paying, now taking on the same house next door for 25% less means you are ahead on what you you originally paying - and you might get a mortgage for that as well!
You'd be kicking yourself though, wouldn't you? I know I would.
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Old Mar 3rd 2009, 6:06 am
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Default Re: I thought the property market had collapsed out there?

This is how good real estate is in Dubai nowadays:

"The owner of the island of Ireland on Dubai’s The World project has taken his own life amid rumours of financial worries as a result of the global economic crisis, it has been reported".


http://www.arabianbusiness.com/54850...ommits-suicide

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Old Mar 3rd 2009, 6:30 am
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Default Re: I thought the property market had collapsed out there?

I was wondering that myself...as I have seen at least three viewings for prospective buyers in our tower block (Dubai Marina) in the last 2 days. The Marina Walk has certainly taken off...perhaps Dubai Marina is picking up ?
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Old Mar 3rd 2009, 6:44 am
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Default Re: I thought the property market had collapsed out there?

I can personally name 3 'acquaintances' who have two or more (in one case 5) properties which they took on 9-10 months ago to flip and join the ranks of millionaires knocking around here ('everyon's doing it!'). "This time next year Rodney....."

The biggie payments are looming on properties they did not intend to keep, and are now worth 50-60% of what they agreed looked good for a picture of a poorly build Barrat house. Can I have 3 mortgages please anyone?

I am sure many of us can repeat the same tale. Multiply that by a thousand across the country and I fear we have not even begun to see the nightmare. One tells me he has no option but to quietly ship home what he can, write "sorry" on a few post its and leave behind a relatively secure job and just not come back after his next holiday

All rather sad really...............
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Old Mar 3rd 2009, 7:07 am
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Default Re: I thought the property market had collapsed out there?

Originally Posted by Cham128 View Post
so why is it I keep getting called about marketing jobs in the property sector? and here's the ridiculous part, they seem to be offering a lot more money than they were before!
They need more suckers to come over than sign 12 month leases, buy cars and furniture and generally prop up their bogus economy.

Im sure the money would need to be great to suck people in now but I wouldnt bank on too many months of it.
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Old Mar 3rd 2009, 8:07 am
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Default Re: I thought the property market had collapsed out there?

Originally Posted by The Dean View Post
They need good people to market the properties.........

A warning though - don't get a commission-based deal........ it's difficult to live off fresh air........... however good you are, you won't actually sell much at the moment.
That's the weird thing it's actually marketing not sales, maybe companies out there are now starting to understand the difference?
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Old Mar 3rd 2009, 11:23 am
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Default Re: I thought the property market had collapsed out there?

Met someone today whose delightful 5-bed villa next door on Palm Jumeirah was going for AED14.5m a few months ago. Now they have reduced to AED6.5m which is beginning to look attractive. Beautiful waterfront location. The person I met is renting his for AED400K which still seems high to me.
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Old Mar 3rd 2009, 2:38 pm
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Default Re: I thought the property market had collapsed out there?

Originally Posted by lionheart View Post
Met someone today whose delightful 5-bed villa next door on Palm Jumeirah was going for AED14.5m a few months ago. Now they have reduced to AED6.5m which is beginning to look attractive. Beautiful waterfront location. The person I met is renting his for AED400K which still seems high to me.
Now they have reduced to AED6.5m which is beginning to look attractive

Offer him AED 3.75m.
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