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The Right Time And The Right Price

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  • 01-06-2009 10:22am
    #1
    bongotime
    Closed Accounts Posts: 89 ✭✭


    When is the right time to put in a offer for a house, is there a chance that say the asking price is 350000. would there be a chance of it going for 300000 with the falling house prices.


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    #2
    bobbiw
    Closed Accounts Posts: 211 ✭✭bobbiw


    bongotime wrote: »
    When is the right time to put in a offer for a house, is there a chance that say the asking price is 350000. would there be a chance of it going for 300000 with the falling house prices.


    Chance, Chance, I would be willing to bet that any house selling today for 350k will be 300k before the end of the year if not lower and then at the end of 2010 it would be 200k end of 2011 you might get it for 125.


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    #3
    mathie
    Registered Users Posts: 5,102 ✭✭✭mathie


    And it might be one million in two years time.

    Who knows?

    Past performance is not an inidcation of blah blah blah.


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    #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    The right time and the right price- is when you find a property that you can see yourself living in indefinitely, in a good location for you, and at a price you can afford if interest rates increase to their historic average levels (EU average 4.6%)

    None of us have crystal balls concerning price trends etc- we may have impirical facts to support an argument of further significant price falls- but then again we could discover a major oil field in Athlone tomorrow, and property prices could snowball- who knows.......

    S.


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    #5
    bobbiw
    Closed Accounts Posts: 211 ✭✭bobbiw


    mathie wrote: »
    And it might be one million in two years time.

    Who knows?

    Past performance is not an inidcation of blah blah blah.


    I know, thats who!

    You can get amazing odds at the bookmakers if you suggest that prices are likely to increase in the next 2 years.

    If you look at all the factors that caused Ireland to boom and property to increase in value they are all gone, kaput.

    People were talking about a price correction in 2001, there should have been one then and it would have been the "soft landing" that people are talking about.

    Now people are talking about 50% drops.

    People who are selling will always be reluctant to drop the price, hence it takes a bit of time.


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    #6
    mathie
    Registered Users Posts: 5,102 ✭✭✭mathie


    bobbiw wrote: »
    I know, thats who!

    You can get amazing odds at the bookmakers if you suggest that prices are likely to increase in the next 2 years.

    If you look at all the factors that caused Ireland to boom and property to increase in value they are all gone, kaput.

    People were talking about a price correction in 2001, there should have been one then and it would have been the "soft landing" that people are talking about.

    Now people are talking about 50% drops.

    People who are selling will always be reluctant to drop the price, hence it takes a bit of time.

    The bookies?
    A few years ago the bookies were offering the odds on how much property prices would increase the next year.
    They were offering odds of 10-1 that there would be a decrease.

    And what happened? They decreased.

    I've been on here a long time.
    Long enough to see the mass hysteria when people said 'buy, buy, buy'. Now they're saying 'don't buy, don't buy, don't buy'.
    It seems the louder those shouts get the more I'm inclined to think of going the other way.


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