Many homeowners in Co Meath have claimed their homes are "virtually unsaleable" after the recent flooding.
As they counted the cost of the new floors and furniture and in some cases even partition walls and family cars, estate agents warned house prices may fall by up to €100,000.
In Dunboyne, one of the worst-affected areas, householders called on Meath County Council for an immediate drainage programme to ensure that such flooding does not recur.
Some estate agents suggested that as much as €100,000 could be wiped off the price of three and four bedroom suburban homes which, before the flooding, would have been selling for up to €400,000.
While most homes are insured against flood damage, householders can also expect hefty increases in their premiums for the coming year - if they can get insurance.
Concern has been expressed that enthusiasm for land rezoning, without adequately exploring the local flood characteristics, is ultimately responsible for the mess in which householders find themselves.According to locals the county council was warned as far back as six years ago that the area on which Larchfield estate is built was prone to flooding.
There was severe flooding in the area two years ago. Locals are now concerned they may be facing the same problem later this winter, after they have repaired the present damage.
With a history of repeated flooding in their insurance policies, many homeowners are worried they may not be able to get insurance next year. According to local auctioneer Mr Joe Fox the problem is one for Meath County Council to solve.
"They have given the planning permission, the builder will have complied with that permission but the council has not put in the infrastructure. They have not kept their end of it," he said.
"There is the same amount of water drains around here as there were 30 years ago, with 10 times the amount of housing," he added.
Asked if he would be able to sell houses in the area, Mr Fox said most of the village was all right; "it was Larchfield that had the problem". Asked if the houses were "unsalable" as some locals had suggested, Mr Fox said he thought they were not. "