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Property! The devils market :)

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  • 11-05-2011 7:54pm
    #1
    misterdarkness
    Closed Accounts Posts: 64 ✭✭


    just throwing this out there for opinions.

    I bought house during boom actually worst time 2007 lol anyway i bought it to rent out not to live in and bought in listowel kerry. Anyway got fair price at the time 190k (good at time when that kinda house was 240k) for fine 3 bedroom place which indeed i did rent out.

    Anyway tenents were good never had hassle but victim of recession my pay has been drasticly reduced. My last tenents moved out in october last and while i never had to wait before to get new people the market is so slow its still with letting agents to rent out.

    My thoughts are as im paying the full whack for empty place should i just attempt to sell it??? i see houses in that estate advertised at 170 and yes i would be taking a hit but i guess the next place i would buy would be cheaper too if i look at it that way.

    Im wondering would a 170 acting price for 3 bed semi be realistic in this day and age and would i be waiting just as long if not longer to sell the thing. Was investment but as with all things like this if you expect a return gonna be ready for it to go t*ts up also.

    Better to wait and rent or move on and sell??


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    #2
    noxqs
    Registered Users Posts: 413 ✭✭noxqs


    http://dublinopinion.com/2010/10/05/irish-housing-market-will-not-bottom-out-until-the-relationship-between-prices-and-wages-is-restored/

    That is the cold, hard, truth.

    House prices are still ridiculously overpriced. If you sell fast now, you might hand it off to someone before it turns really bad. Head over to thepropertypin.com if you wish a more in depth answer.

    There's 350,000 empty houses in Ireland and 1000 people emigrating per week. Plus further imminent interest rate increases, plus more skeletons in the international banking markets waiting to fall out of the closet, plus reduction in rent allowance, increase in taxes, VAT, water charges, you name it. It's pretty much downhill from here.

    But the good news is there's apparently people who are not too bright who are willing to buy at current prices. Exploit that fact, as soon as you can.


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    #3
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    If you can cover the NE, then sell it asap.


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    #4
    misterdarkness
    Closed Accounts Posts: 64 ✭✭misterdarkness


    noxqs wrote: »
    http://dublinopinion.com/2010/10/05/irish-housing-market-will-not-bottom-out-until-the-relationship-between-prices-and-wages-is-restored/

    That is the cold, hard, truth.

    House prices are still ridiculously overpriced. If you sell fast now, you might hand it off to someone before it turns really bad. Head over to thepropertypin.com if you wish a more in depth answer.

    There's 350,000 empty houses in Ireland and 1000 people emigrating per week. Plus further imminent interest rate increases, plus more skeletons in the international banking markets waiting to fall out of the closet, plus reduction in rent allowance, increase in taxes, VAT, water charges, you name it. It's pretty much downhill from here.

    But the good news is there's apparently people who are not too bright who are willing to buy at current prices. Exploit that fact, as soon as you can.


    Thank god for good news part you had me looking for my gun lol


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