Tuesday, November 06, 2007

A firing offense?

HERE'S a man who can't be accused of talking down the property market: auctioneer Ken MacDonald (right) of Hooke & MacDonald has had his Blackrock bungalow on the market for 13 months . . . and he hasn't budged an inch on the 2.4m asking price, so he can't be accused of adding to the nearly 4% drop in house prices this year.

MacDonald put the 2,100 sq ft home up for auction with Sherry FitzGerald in October 2006 with an AMV of 2.4m, but evidently found no takers at the price. That didn't stop him listing it for sale by private treaty without a discount, though.

Everything the brochure says about the place appears to be true . . . it's charming, bright, attractive and generously proportioned . . . everything, that is, except the kicker: "Sure to be of instant appeal to a variety of discerning purchasers, from young families to those seeking to trade down alike". Leaving aside the visitor-from-Mars belief that a 2.4m house represents an opportunity to trade down, MacDonald and his enablers at Sherry Fitz have proven themselves to be way off on the "instant appeal" judgment.

Still, he's sticking to his story: "There's real confidence out there, " he told the Irish Independent last Thursday.

Judging by change of address documents he filed with the Companies Registration Office, MacDonald got tired of waiting for the market to produce a willing buyer for the Blackrock albatross and decamped to a new pad in Sandymount. Perhaps he doesn't need the money that badly, even in these leaner times for auctioneers.

(Thanks to astute commentators at thepropertypin. com and the anonymous blogger at arandomwalk. com for producing this story. )