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House have been up for sale for past 6 months
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... ther are some real bargains...
Yes, relative to bubble prices. Prices have not even hit their true values yet never mind bargain prices.
In the middle of our bubble I remember watching a news piece on CNN about the property crash in Detroit where a woman bought a house for $1...that was the definition of a bargain.0 -
My sister sold her house for 265 last year after dropping 40k below her two neighbors (one on the same street, the other round the corner). They thought she was crazy, but now they are still on the market and are now both below 250k. If you react slowly to what other sellers are doing you'll be forever chasing your tail. Might as well stay put and save the stress.0
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My sister sold her house for 265 last year after dropping 40k below her two neighbors (one on the same street, the other round the corner). They thought she was crazy, but now they are still on the market and are now both below 250k. If you react slowly to what other sellers are doing you'll be forever chasing your tail. Might as well stay put and save the stress.
That just about sums it up really.... The level of denial many sellers are still in will cost them dearly in the long run.0 -
SoupyNorman wrote: »Yes, relative to bubble prices. Prices have not even hit their true values yet never mind bargain prices.
In the middle of our bubble I remember watching a news piece on CNN about the property crash in Detroit where a woman bought a house for $1...that was the definition of a bargain.
Detroit is a city that is quickly emptying itself, there's entire streets abandoned and boarded up. Paying that $1 means she's liable for any taxes and upkeep associated with the place.
Just look at the "bargains" here:
http://homes.point2.com/US/Michigan/Wayne-County/Detroit-Real-Estate.aspx?&SortField=Price&Page=870 -
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Why does these things depend on the house you live in?
P.
1 Because I want to do courses in college. not distance learning
2 Where I live the nearest cinema is 30 miles away and not much else to do just pubs which I would have no intrest in.
3 Very bad public transport and very bad roads.
4 Stuck with onely 2 foodstores who charge high prices and object to any competition comming in.
5 Nearest college over 60 miles away, nearest hospital over 40 miles
6 Onely one religious denomination and this is fairely importaint to me too
7 Also some personal reasons
8 Alot of ouses around me vacant and old, when the elderly occupants die the houses remain empty0 -
1 Because I want to do courses in college. not distance learning
2 Where I live the nearest cinema is 30 miles away and not much else to do just pubs which I would have no intrest in.
3 Very bad public transport and very bad roads.
4 Stuck with onely 2 foodstores who charge high prices and object to any competition comming in.
5 Nearest college over 60 miles away, nearest hospital over 40 miles
6 Onely one religious denomination and this is fairely importaint to me too
7 Also some personal reasons
8 Alot of ouses around me vacant and old, when the elderly occupants die the houses remain empty
If that's the case, then:
Why did you buy in a rural area in the first place?0 -
Reread their posts.Why did you buy in a rural area in the first place?
They may have been given the house by their parents.lived in the same house as my parents and granparents.
OP: where do you wish to live, and how much money would you like to have left after the sale? Old house Sale minus New House may equal to cash, if there is land included in the deal.0 -
Reread their posts.
They may have been given the house by their parents.
OP: where do you wish to live, and how much money would you like to have left after the sale? Old house Sale minus New House may equal to cash, if there is land included in the deal.
Yes this was the case when I seperated came to live with my parents and inherited it ( They are now deceaced) Kids away in college so alone in a dying neighbourhood.
I think company of other people would be a bit of a factor. If I joined classes would meet others, and at lease one could go to the cinema on their own, there would be cafe's to visit, OK it would be alone but would not mind that, maybe the odd night out to a concert when and if I would get to know a few people after time
Would be happy with a smaller house or older house not realy fussy as long as I would be near people and facilities.Would onely be able to buy what I would get for my own property. To have a bit left over would be great, but not expecting to.There realy is nothing tying me to where I live, yes I do have friends but do not get out much onely talk on the phone and not the same as meeting up.0 -
Woolyhat, if you own the place with no mortgage you are in a better position than 95% of people in the country. If you can still sell the place for €180k you are probably even better off than that again. The glass is definitely half full.
Do you have an income? If so, why not sell up and rent and put the €180k in the bank. That will earn you some income and renting is getting cheaper by the day. You could get a nice 1-bed in Dublin for €600 - €800 pm. Less than that if you share or if rents fall more. And if you have a couple of hundred € a month coming in interest on your money on deposit (more as interest rates rise), that would mean you could get a very nice place for 1 person for probably €500 pm. Not bad at all.0 -
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Reread their posts.
They may have been given the house by their parents.
OP: where do you wish to live, and how much money would you like to have left after the sale? Old house Sale minus New House may equal to cash, if there is land included in the deal.
Didn't see that.
I take back my comment.0 -
2 Where I live the nearest cinema is 30 miles away and not much else to do just pubs which I would have no intrest in.
3 Very bad public transport and very bad roads.
4 Stuck with onely 2 foodstores who charge high prices and object to any competition comming in.
5 Nearest college over 60 miles away, nearest hospital over 40 miles
6 Onely one religious denomination and this is fairely importaint to me too
8 Alot of ouses around me vacant and old, when the elderly occupants die the houses remain empty.
Unfortunately, the above reasons could possibly delay the sale of your property even further, it sounds like there is nothing good going for your town at all. It might be hard to find a buyer from outside your town.
What are the good points about the area where you live? There has to be some. What would entice a buyer to buy in your town?
Is there any possibilty that a neighbour / business person in your area that would be interested in buying?
How long more have your kids got in college? If you could rent out your property for a few years, would they be interested in buying it off you after they finish college?
Is there anything that your are proficient at or interested in that you could start up your own work from home business? This could be socially benificial in many ways. You could set up some sort of community activity that you could link up with other rural towns in you county/provence.
There are plenty of work at home business that are successful, maybe it would improve your town and your mind set.
I would start looking at other options just incase peoples offers are not sufficient enough for your potential new life.
Good luck though.0 -
Thanks2 Where I live the nearest cinema is 30 miles away and not much else to do just pubs which I would have no intrest in.
3 Very bad public transport and very bad roads.
4 Stuck with onely 2 foodstores who charge high prices and object to any competition comming in.
5 Nearest college over 60 miles away, nearest hospital over 40 miles
6 Onely one religious denomination and this is fairely importaint to me too
8 Alot of ouses around me vacant and old, when the elderly occupants die the houses remain empty.
Unfortunately, the above reasons could possibly delay the sale of your property even further, it sounds like there is nothing good going for your town at all. It might be hard to find a buyer from outside your town.
What are the good points about the area where you live? There has to be some. What would entice a buyer to buy in your town?
Is there any possibilty that a neighbour / business person in your area that would be interested in buying?
How long more have your kids got in college? If you could rent out your property for a few years, would they be interested in buying it off you after they finish college?
Is there anything that your are proficient at or interested in that you could start up your own work from home business? This could be socially benificial in many ways. You could set up some sort of community activity that you could link up with other rural towns in you county/provence.
There are plenty of work at home business that are successful, maybe it would improve your town and your mind set.
I would start looking at other options just incase peoples offers are not sufficient enough for your potential new life.
Good luck though.
What my town have going for it?
Beautiful scenery breathtakeing though it did not escape the concrete jungle of buildings in parts
It would be great to start up something and I have wracked my mind trying to think of something. I do careing for thr elderly as a job and like it alot love hearing their stories and chatting even when it,s not work time.
I am not skilled at any thin and do want to acheive a few more things in my life before I leave this world,which hope will be a while yet.
I realy did not paint a good picture of my home,it is a nice house in a lovely location. near hotels and supermarket,schools,church,and the town.
The man who asked to rent it would buy but money is a issue yet0 -
Thanks for replyTreehouse72 wrote: »Woolyhat, if you own the place with no mortgage you are in a better position than 95% of people in the country. If you can still sell the place for €180k you are probably even better off than that again. The glass is definitely half full.
Do you have an income? If so, why not sell up and rent and put the €180k in the bank. That will earn you some income and renting is getting cheaper by the day. You could get a nice 1-bed in Dublin for €600 - €800 pm. Less than that if you share or if rents fall more. And if you have a couple of hundred € a month coming in interest on your money on deposit (more as interest rates rise), that would mean you could get a very nice place for 1 person for probably €500 pm. Not bad at all.
You are right in what you say I should be more posative.
How would I fare with renting it out I am on social welfare and work part time would this effect it? also I would be giveing up the work I have and will most likely not be able to find work when I move, and it is hard going sometimes even with the work, always something wanted for my lads,but time have come to do something with my life.Bad timeing I know0 -
Nothing have sold anywhere here I would even say since the boom and ther are some real bargains. There is not much employment and it is rural area. but very beautiful scenery in the area
With all due respect to you woolyhat and don't purposely want to come across as condescending either if thats what it seems but you quoted me and failed to counter argue or even acknowledge my points. It seems to me as if your intent on justifying your price with little regard for the reality of the situation. Don't get me I'm not saying your house is in a bad location or otherwise (and as I don't have a clue about the specific details of the house) but fact of the matter its not selling for you either. As I say its a bit pointless comparing your price to the asking price of nearby houses if theyre not selling either and you conceed this fact yourself....Nothing have sold anywhere here I would even say since the boom
I think furthermore that is a pretty broad and sweeping statement. I'd be very very surprised if nothing sold within a 10 mile radius of you since the boom (depending on when you consider the boom to have ended). Fact of the matter is families always need to live somewhere and there will always be a certain level of activity but house prices are a factor. If on the other hand you are living in an unfinished estate and are talking about your specific estate, well thats a different matter (but not saying or implying such is the case either).
You say there are some real bargains but it could be argued that is subjective and a matter of opinion. I live in a rural area also with not very fantastic employment prospects and three bedroom end of terrace houses are asking 150k if not less and even at that there is not a lot of activity here either judging by Daft listings remaining pretty static.0 -
johndaman66 wrote: »With all due respect to you woolyhat and don't purposely want to come across as condescending either if thats what it seems but you quoted me and failed to counter argue or even acknowledge my points. It seems to me as if your intent on justifying your price with little regard for the reality of the situation. Don't get me I'm not saying your house is in a bad location or otherwise (and as I don't have a clue about the specific details of the house) but fact of the matter its not selling for you either. As I say its a bit pointless comparing your price to the asking price of nearby houses if theyre not selling either and you conceed this fact yourself....
I think furthermore that is a pretty broad and sweeping statement. I'd be very very surprised if nothing sold within a 10 mile radius of you since the boom (depending on when you consider the boom to have ended). Fact of the matter is families always need to live somewhere and there will always be a certain level of activity but house prices are a factor. If on the other hand you are living in an unfinished estate and are talking about your specific estate, well thats a different matter (but not saying or implying such is the case either).
You say there are some real bargains but it could be argued that is subjective and a matter of opinion. I live in a rural area also with not very fantastic employment prospects and three bedroom end of terrace houses are asking 150k if not less and even at that there is not a lot of activity here either judging by Daft listings remaining pretty static.
Hi Johndaman66 Thanks for your post and sorry for not acknowledging the last one.
First to say it was the auctioneer who put the price tag on the house I realy did not have much of a idea ,of course I would be willing to reduce the price and realise it is now much less than it would have been before.
I am not compairing prices of other houses for sale in my area onely makeing a point how a simelar house in a rundown condition is asking more.
And beleive it or not nothing I know of have been sold and I have checked even as far as the 10 miles Are all the prices too high? In the estates they are all overgrown front and back with fenceing falling down uncovered pipes etc. dreadful. One of these cost 439,000.00 before now 130,000.00 and they can't find buyers0 -
1 Because I want to do courses in college. not distance learning
2 Where I live the nearest cinema is 30 miles away and not much else to do just pubs which I would have no intrest in.
3 Very bad public transport and very bad roads.
4 Stuck with onely 2 foodstores who charge high prices and object to any competition comming in.
5 Nearest college over 60 miles away, nearest hospital over 40 miles
6 Onely one religious denomination and this is fairely importaint to me too
7 Also some personal reasons
8 Alot of ouses around me vacant and old, when the elderly occupants die the houses remain empty
Well woolyhat, take a good look at these reasons. Now you know why people are not interested in even viewing a terraced house in this area with an asking price of E230,000.
And if absolutely nothing has sold in your area since the boom times, a) it must be the most depressed region in Ireland and b) you cannot use your neighbours' delusional asking prices as a guide for what you should set yours at.0 -
Thanks for all replies. The house is in a small terrace of 2 story houses 15 houses built in the 1930s there is another one for sale also a bit up from mine they are looking for 270.000.00 and its all overgrown with weeds and in bad condition. My house have a lovely well kept garden, freshely painted and insulated with a ber cert. decking and patio with barbique built at the back and my price is230,000.00
I'll offer you €190,000 for it?0 -
This is where house prices are headed in rural areas....
http://www.daft.ie/searchsale.daft?id=512059
http://www.daft.ie/searchsale.daft?id=541473
http://www.daft.ie/searchsale.daft?id=538049
and will go lower.....
The fact is...... house prices all over the place have a long way to go.0 -
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This is where house prices are headed in rural areas....
http://www.daft.ie/searchsale.daft?id=512059
http://www.daft.ie/searchsale.daft?id=541473
http://www.daft.ie/searchsale.daft?id=538049
and will go lower.....
The fact is...... house prices all over the place have a long way to go.
Hi Stepbar
It would be much much nicer than the ones in your examples if I can manage to put something simelar to my house on will do so0 -
I agree with Stepbar, I think you'd be very lucky to get 6 figures for a terraced house in a rural area. A terraced house is a pain in the bum in a lot of ways and that pain is only worth it for cheapness or urban location. Your house doesn't have the location so in order to sell it will have to drop considerably in price.
You are in a bit of a strange position in that if you are mortgage free or have a low mortgage you are free to sell the house for whatever the market dictates. However your main income is a social welfare benefit which I believe is means tested. That means you aren't free to sell up and rent while prices fall further as you would lose most of your income due to possession of a lump sum of money. This means that if you want to move you will more or less have to sell and buy at the same time.
In this case I suggest you can continue on with the house up for sale, making price drops until you get interest. Then when you have a decent idea what you will get for your house you can look into what your purchasing options are and if a move would be worthwhile. In the meantime work on doing what you can to make the changes in your life that will make you happy. You aren't stuck in your house but you may find that moving isn't worthwhile in the short term.
Do you drive? It doesn't sound like you do. Perhaps first on your list to change your life should be to learn to drive and save up for a car? Then you would be able to shop where you like and go to the cinema, other churches, etc, whenever you wanted. And secondly I suggest you take literacy classes if you can. I don't mean to be hurtful but you don't write very well and that could damage your employment prospects. If classes aren't an option maybe just read more as heavy readers learn by osmosis and reading is a good way of helping lift you up when you feel stuck in a rut.
I hope you can move but it won't happen if you aren't extremely realistic about what you can sell for. Of course it's natural to want the best possible price and to aim for that but it does appear that the best price you can get is quite a bit lower than you are hoping for.0 -
I agree with Stepbar, I think you'd be very lucky to get 6 figures for a terraced house in a rural area. A terraced house is a pain in the bum in a lot of ways and that pain is only worth it for cheapness or urban location. Your house doesn't have the location so in order to sell it will have to drop considerably in price.
You are in a bit of a strange position in that if you are mortgage free or have a low mortgage you are free to sell the house for whatever the market dictates. However your main income is a social welfare benefit which I believe is means tested. That means you aren't free to sell up and rent while prices fall further as you would lose most of your income due to possession of a lump sum of money. This means that if you want to move you will more or less have to sell and buy at the same time.
In this case I suggest you can continue on with the house up for sale, making price drops until you get interest. Then when you have a decent idea what you will get for your house you can look into what your purchasing options are and if a move would be worthwhile. In the meantime work on doing what you can to make the changes in your life that will make you happy. You aren't stuck in your house but you may find that moving isn't worthwhile in the short term.
Do you drive? It doesn't sound like you do. Perhaps first on your list to change your life should be to learn to drive and save up for a car? Then you would be able to shop where you like and go to the cinema, other churches, etc, whenever you wanted. And secondly I suggest you take literacy classes if you can. I don't mean to be hurtful but you don't write very well and that could damage your employment prospects. If classes aren't an option maybe just read more as heavy readers learn by osmosis and reading is a good way of helping lift you up when you feel stuck in a rut.
I hope you can move but it won't happen if you aren't extremely realistic about what you can sell for. Of course it's natural to want the best possible price and to aim for that but it does appear that the best price you can get is quite a bit lower than you are hoping for.
Hi Iguana
Thank you for your reply. I came on here for others openions on my situation, remarking my lack of writeing skills is going off track, though this is something I want to do something about too.
Yes I do drive but as I've said previousely live over 30 miles from a cinema which would be travelling 62 miles to and from on very bad roads alone by night.Not my idea of a good night out even to have company would not help.
Social welfare would understand if I sold my home would have to buy another one I actualy asked this in another post some time ago and seems it would be ok.
I am curious to know what the drawbacks are in a terraced house as I had hoped to buy something simelar in another location?0
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