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How much less than asking house prices will estate agents accept?

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    #32
    Benedict
    Registered Users Posts: 684 ✭✭✭Benedict


    Unless the house is in one of the better areas in South Dublin, the house will almost definitely be worth well under 200K this time next year - possibly 180k. So if you buy for 230k - you could lose 50k in 12 months?

    Rather you than me!


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    #33
    ArseBurger
    Registered Users Posts: 647 ✭✭✭ArseBurger


    COYW wrote: »
    Wow, I didnt realise that. Thats some loss. Might put in a bid for €210K in that case.

    Huh???

    Step back and think about this for a second.

    Losing 100K over five years is 1.66K per month.

    Losing 80K (after you drop 20K) over five years is 1.33K per month.

    You'll rent a nice property for that 'loss' over five years and you won't be in negative equity.

    No surprise why Ireland got to this stage is it?


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    #34
    Benedict
    Registered Users Posts: 684 ✭✭✭Benedict


    During the boom, Irish people completely lost sight of just how much money 10k is - let alone 100k! Money was thrown around like snuff at a wake and the estate agents and developers laughed all the way to the bank.

    Paying 10k or 15k more for a house than what it's worth is an absolute scandal - but some Irish people still think nothing of offering 100k or even 200k more for a house than it will be worth in 12-24 months time.

    Forget the asking price - it's irrelevant! Just go to the vendor and say "I'm offering you X amount. Do you want it or don't you?" Then go home and wait for a week or two, and your phone will ring.


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