Property Market in Waterford

spankmemunkey

stefan idiot jones wrote: »

Thats great news about your friend.

So, in regards to the seller and the estate agent having dialogue and working together and your 'gut' feeling that the agent was looking out in his/her self interest didn't exactly materialise did it ?

Sometimes it's nice to be proved wrong when something good and positive happens and restores faith in humanity thay not everyone is looking for the negative in people.

Yeah its great isnt it, kinda disproves what you were ****ing on about too doesnt it.

barneystinson

spankmemunkey wrote: »

Yeah its great isnt it, kinda disproves what you were ****ing on about too doesnt it.

LOLZ - funny munkey!

Doesn't disprove anything he said to you - without knowing more it's impossible to say, but it's more likely it supports what Stefan said...

Maybe the seller had a change of heart and decided to take the money and run when no better offers materialised.

Or maybe the seller had to put a gun to the bank's head and persuade them to take the money and run.

Either of those scenarios is WAAAAAY more likely than an estate agent acting the bollix and risking over a grand in commission for the sake of €40...

If you can't wrap your head around that then there's not much point engaging with you.

stefan idiot jones

mooseknunkle wrote: »

I heard that house in bishopsfield went for 166,000 not bad for a 4 bed in that area.

That is a good price for that house. They are really well built, high ceilings, laundry shutes and decent sized rooms.
Lovely estate too. Only one hundred houses so not too much through traffic.
Someone has had a bargain.

ziedth

I see the houses out in that estate in Kilmedan are going for 170 for the three bed fully fitted. I have a feeling they were nearly twice that from plans back in the day. They have these solar panels for heating/electricty.

4 bed detached again fully furnished out in Kilmac then going for 110, there is some fairly decent value out there if you had the money.

spankmemunkey

barneystinson wrote: »

LOLZ - funny munkey!

Doesn't disprove anything he said to you - without knowing more it's impossible to say, but it's more likely it supports what Stefan said...

Maybe the seller had a change of heart and decided to take the money and run when no better offers materialised.

Or maybe the seller had to put a gun to the bank's head and persuade them to take the money and run.

Either of those scenarios is WAAAAAY more likely than an estate agent acting the bollix and risking over a grand in commission for the sake of €40...

If you can't wrap your head around that then there's not much point engaging with you.

I have first hand experience of an estate agent with holding a bid from the owner of a house, on both the rental and purchasing side, again my hands are tied as to how far i can go into that without the thread being locked or boards being liable. I later found out the name of a home owner through work colleagues who were good friends with the seller and there was war when the owner found out we were interested and made a bid that the estate agent thought was too low.

barneystinson

spankmemunkey wrote: »

I have first hand experience of an estate agent with holding a bid from the owner of a house, on both the rental and purchasing side, again my hands are tied as to how far i can go into that without the thread being locked or boards being liable. I later found out the name of a home owner through work colleagues who were good friends with the seller and there was war when the owner found out we were interested and made a bid that the estate agent thought was too low.

That's fine, you can PM me! And if it happened then the EA can't really sue anyone, can they (since both you and the v upset seller would confirm the facts)?

I'm not saying you're lying about what happened - I'm saying that as regards closing a sale and earning a couple of grand in commission it's extremely unlikely an EA would not disclose a bid to their client for the sake of 40/50 quid of commission.

spankmemunkey

barneystinson wrote: »

That's fine, you can PM me! And if it happened then the EA can't really sue anyone, can they (since both you and the v upset seller would confirm the facts)?

I'm not saying you're lying about what happened - I'm saying that as regards closing a sale and earning a couple of grand in commission it's extremely unlikely an EA would not disclose a bid to their client for the sake of 40/50 quid of commission.

PM sent

jayboi

Here's a good one I was told about today.
http://www.purcellproperties.ie/cedar_grove/
starting at 735,000. I assume this is 2007

then today
http://www.daft.ie/searchsale.daft?id=741459
190,000

wellboytoo

jayboi wrote: »

Here's a good one I was told about today.
http://www.purcellproperties.ie/cedar_grove/
starting at 735,000. I assume this is 2007

then today
http://www.daft.ie/searchsale.daft?id=741459
190,000

Wow thats fairly stark alright! I imagine if you had to build that today you'd have little change from 250 k?

kuang1

wellboytoo wrote: »

Wow thats fairly stark alright! I imagine if you had to build that today you'd have little change from 250 k?

Location though lads...is shocking! I've been passing this house for years. Even walked around for a snoop a couple of times (as I'm not sure if it has EVER been lived in)...Dunmore road slightly above you and 5 yards from the side wall. Tall trees cutting out a lot of sunlight, and the footprint of the house takes up 80% of the site. (Notice the pictures of the garden? No? Well that's coz there ain't one)
Not for me thanks.

fricatus

kuang1 wrote: »

Location though lads...is shocking! I've been passing this house for years. Even walked around for a snoop a couple of times (as I'm not sure if it has EVER been lived in)...Dunmore road slightly above you and 5 yards from the side wall. Tall trees cutting out a lot of sunlight, and the footprint of the house takes up 80% of the site. (Notice the pictures of the garden? No? Well that's coz there ain't one)
Not for me thanks.

Yeah, the positioning of those houses is absolutly abysmal. Northwest facing at the back, right on the street at the front, and one of them has the Dunmore Road right on top of it.

We took a snoop around there when we were looking for our present place, and agreed that we wouldn't touch those houses with a barge pole, even if heavily discounted. Trying to pull out of there in a car would not be much fun, and there's no footpath! If you had children in there, they would basically be walking out of your cul-de-sac onto a very busy road with no safe way to get to a crossing.

The only thing crazier than buying one of those is that they were allowed to build them there in the first place!

spankmemunkey

fricatus wrote: »

Yeah, the positioning of those houses is absolutly abysmal. Northwest facing at the back, right on the street at the front, and one of them has the Dunmore Road right on top of it.

We took a snoop around there when we were looking for our present place, and agreed that we wouldn't touch those houses with a barge pole, even if heavily discounted. Trying to pull out of there in a car would not be much fun, and there's no footpath! If you had children in there, they would basically be walking out of your cul-de-sac onto a very busy road with no safe way to get to a crossing.

The only thing crazier than buying one of those is that they were allowed to build them there in the first place!

Have to agree on both of the above, had a look with a friend who is in the market for a house, think theres one left, doest look like its been lived in, the layout is terrible inside and a lot of the building is beginning to perish on the outside due to lack of maintenance. Imagine saying lets open the window for fresh air, youd just be breathing in exhaust fumes.

shockwave

That house has never been lived in its been on and off the market for years.

kuang1

And must have been built around 7/8 years ago would be my guess? As spank pointed out, the place hasn't been maintained at all. €190,000 for a 'project' house that vibrates with traffic all day?
I wouldn't be interested at €19,000.

But sure the property market is making a great recovery...I'm sure it'll sell.
Oh yeah and we'll beat the all-blacks next time. And Ireland for euro '16 too.

All certainties.

Demonical

Wasn't there something about planning permission not being granted for those 3/4 houses in Cedar grove but they were built anyway? I cant quite remember but I think there was something dodgy going on....It used to be a single house that burnt down? (or maybe it was just knocked)...and then pure greed kicked in...and 3 houses were built in the place of 1

araic88

I like the new (?) feature on daft which shows changes in asking prices of houses & dates of same.
It's interesting to see the large chunks knocked off a lot of Waterford property asking prices

kuang1

araic88 wrote: »

I like the new (?) feature on daft which shows changes in asking prices of houses & dates of same.
It's interesting to see the large chunks knocked off a lot of Waterford property asking prices

Their hand was forced araic.
You've had the likes of collapso.net and irishpropertywatch.net providing this service for years.
Unfortunately the 'sheep' mentality of the majority of young mortgage applicants and property buyers lacked the wherewithal to sit down at a laptop/pc and carry out adequate research on the biggest financial outlay of their lives. Had they done so, they would have discovered this information quite easily.

It saddens me to accept that the majority of Irish citizens interested in buying a home, will be swayed by a brainwashing combination of CSO figures, rte/independent/times headlines and estate agent's lies. Not to mention older generations implying that if you don't own your own home, then you haven't succeeded in life.

I don't own my own place, and I may never do; despite the fact that I'm in a financial position to do so tomorrow if I wished.
Having come clean with you all, my personal opinion (which won't surprise you) is that anybody investing in property in Waterford at the moment is making a poor decision that they will live to regret.
In the same breath, anybody who is currently, or about to purchase property, (particularly a 'home') I wish you the very best, and hope for your sake that I prove to be wrong.

spankmemunkey

kuang1 wrote: »

Their hand was forced araic.
You've had the likes of collapso.net and irishpropertywatch.net providing this service for years.
Unfortunately the 'sheep' mentality of the majority of young mortgage applicants and property buyers lacked the wherewithal to sit down at a laptop/pc and carry out adequate research on the biggest financial outlay of their lives. Had they done so, they would have discovered this information quite easily.

It saddens me to accept that the majority of Irish citizens interested in buying a home, will be swayed by a brainwashing combination of CSO figures, rte/independent/times headlines and estate agent's lies. Not to mention older generations implying that if you don't own your own home, then you haven't succeeded in life.

I don't own my own place, and I may never do; despite the fact that I'm in a financial position to do so tomorrow if I wished.
Having come clean with you all, my personal opinion (which won't surprise you) is that anybody investing in property in Waterford at the moment is making a poor decision that they will live to regret.
In the same breath, anybody who is currently, or about to purchase property, (particularly a 'home') I wish you the very best, and hope for your sake that I prove to be wrong.

I really like your strong opinion and not being afraid to say it, not that you'd need to be afraid to voice your opinion on boards.

I agree with alot of what your saying but I would also say that your also losing money by paying rent every month, that's negative equity to the tune of what 8000 9000 a year? We probably pay the same on rent and mortgage and I bought in 2009/2010 so it was an inflated price but not the original asking price. The only problem I see is if I wanted to sell or move away then we have a problem, but I can tell you this, If I hadn't bought a house I'd be buying now, theres a house in Carraig An Aird going for 80.000 that's incredible value, I also know that If I did buy it I would have to pay 8000 deposit which would bring the price down to 72, theres work needed but I have the where with all to do it. I am also someone who is very careful with money and I know I would have the rest of that mortgage paid off very quickly. OK maybe 10 years but still that's not bad.

Theres land for sale there in Carraig An Aird for €150,000 with planning for 52 houses.

7upfree

http://www.thepropertypin.com

The best of them all. I know someone who says this (and sites like it) saved them over €100k when they moved house after the collapse started.

kuang1

7upfree wrote: »

http://www.thepropertypin.com

The best of them all. I know someone who says this (and sites like it) saved them over €100k when they moved house after the collapse started.

Amen. I owe an unknown sum of money to that site. Can't say enough good things about it.

kuang1

spankmemunkey wrote: »

I really like your strong opinion and not being afraid to say it, not that you'd need to be afraid to voice your opinion on boards.

I agree with alot of what your saying but I would also say that your also losing money by paying rent every month, that's negative equity to the tune of what 8000 9000 a year? We probably pay the same on rent and mortgage and I bought in 2009/2010 so it was an inflated price but not the original asking price. The only problem I see is if I wanted to sell or move away then we have a problem, but I can tell you this, If I hadn't bought a house I'd be buying now, theres a house in Carraig An Aird going for 80.000 that's incredible value, I also know that If I did buy it I would have to pay 8000 deposit which would bring the price down to 72, theres work needed but I have the where with all to do it. I am also someone who is very careful with money and I know I would have the rest of that mortgage paid off very quickly. OK maybe 10 years but still that's not bad.

Theres land for sale there in Carraig An Aird for €150,000 with planning for 52 houses.

Well spank.
I take the point about renting. Yes I fork out €9,000 a year in rent. 'dead money' right?
It's not the way I see it. I see it as a lifestyle choice. Paying rent is like paying for a service. So if, for my €9k a year, I get a house that's dry, cosy, safe, in a good neighbourhood, that feels like home, that I look forward to returning to after a days work, that I'm happy for my kids to live in, etc. etc. then I consider that to be a case of me getting what I paid for.

What I'm also getting by living this way, is a great sense of freedom. Exactly as you've said yourself; I CAN up sticks and move elsewhere very easily should I so wish. (Or heaven forbid, should things get so bad here that I be forced to emigrate, I can do so without having to depend on selling a house before leaving.) I don't plan to move, and would love to live in Waterford indefinitely as it's home to me. We're blessed here with our location, the size of the place is just right; not too big not too small, great access to gorgeous coastal spots, everywhere and everything is nearby, we really don't have anything that could be considered as bad traffic problems or rush hours, I could go on and on...

But the point is this: I currently don't have enough confidence in the national or local economies to put my money into bricks and mortar. I'm not an economics expert by any means, but I have educated myself a little in the last 8-10 years on these matters. I've come to recognise 'spin' a lot easier than before, and not get sucked in by some of the media's propaganda, particularly concerning the property market.

(e.g. how many times in the last 6 years have you read/heard a headline implying "Buy now - the property market is recovering!" followed by an interview or a quote from an estate agent? Ffs. If I was selling sun tan lotion and sunglasses and deck chairs, do you think I'd be someone to give a proper perspective if asked what type of a summer we might get next year?
Please.:mad:)

Another point that a baffling number of people choose to ignore, is that over the course of a mortgage, in real money, the amount you will pay the bank back is usually close to double the amount borrowed!
(friend of mine got a mortgage for a house worth €245,000 and told me that by the time he has it all paid off, he'll have given the bank a total of €470,000! AND he's on a tracker!!)
And if people do consider this, they think that 'yeah, but by the time I've it paid off, the house will be worth at least what I've paid back.' Up to recently, 'natural' inflation would have made this true.
However in the last 5/6 years, that inflation hasn't existed. So just because it has always happened up to now doesn't act as a guarantee for it to be forever the case.

Finally, there's the point of location. Where I live now is perfect for us. We have neighbours that are more like our extended family. Kids saunter in and out of each other's houses, dinners are shared, babysitting is a given if needed and so on.
Yo mentioned Carraig An Aird. I keep a very sharp eye on property available in waterford (which might surprise you given everything I've said up to now!) so I know of it. But you'd effectively be buying in a ghost estate up there. And very similar to the Cedar grove property we were discussing earlier in the thread, would you live in a house that has been sitting unused since it was built 7/8 years ago?
Well in fairness to you you've answered that already by saying that you'd have the wherewithal to do it up.
I have a paranoia about celtic tiger houses though regarding the quality of the build. I know they're not all bad, but having spoken to a lot of the tradesmen who worked on estates like that as they were being built, the anecdotal evidence of short cuts being taken and half measures is scary. (things like 1/4 of the plaster being applied compared to what is normally used, foundations being 'narrow' to save cost to the developer etc.)

Anyway spank as I've said before; I wish anyone buying a property the very best of luck and happiness with it.

I just won't be wishing myself that luck anytime in the next 5 years.;)

spankmemunkey

Good reply, I also have kids and i know that if anything happens to me my mortgage will be paid and my children and partner will have an asset, If we were renting and I passed away suddenly god forbid, my family might be in a worse position if we were renting.
I do agree 100 percent with you 100% about question marks over build quality.

Regarding Carraig An Aird, I wouldnt call that a ghost estate, The owner has gone into liquidation the remaining land is in NAMA but that land is just bare land, theres lets say 100 houses and 5 or so are empty since being built. I think 2 were houses that were bought and never actually lived in, one of which is up for sale for 80 thousand.

I can tell you though rebuild costs for insurance purposes is normally recommended between 120-150,000.

80 thousand is much cheaper than it would cost you to build a house new and I'm not guessing that, ask any builder that's fact at this stage.

I agree 100 percent with you on the whole spin thing, something that drives me up the wall, do you ever see the hoarding on estates, superb development in a superb location? WTF! ha

7upfree

spankmemunkey wrote: »

I can tell you though rebuild costs for insurance purposes is normally recommended between 120-150,000.

Hasn't that dropped somewhat in recent years?

wellboytoo

Rebuild guidelines


http://www.scsi.ie/about_us/rebuildcalculator

Problem is you will buy cheaper than the rebuild cost.

jayboi

5.3 acres for sale next to hospital for sale €450,000. that's €85,000 an acre.
Id be using that reference for the max price of residential land in the city.

Can anyone remember what it sold for originally.
http://www.daft.ie/searchsale.daft?id=740098

spankmemunkey

7upfree wrote: »

Hasn't that dropped somewhat in recent years?

Yes it has to about 120,000-150,000. If you were to buy that house in carraig an aird for 80,000 and were to insure it, youd need to insure it for rebuild costs of the above. I just renewed my home insurance and i was quoted that from several different insurers.

spankmemunkey

wellboytoo wrote: »

Rebuild guidelines


http://www.scsi.ie/about_us/rebuildcalculator

Problem is you will buy cheaper than the rebuild cost.

Yes you will but i was just using that as an example. As I said if you were to get a mortgage for 72,000, 8000 would be needed for a deposit so you could say 70,000 repayments, now thats not a struggle is it? I think its great value to be honest, I would say that though, ive lived in those houses before.

araic88

Does anyone know anything about the Bowefield estate In Gracedieu? I saw a nice house for sale there on daft but know nothing about the place. I can't get my head around the layout of the houses (set over 2 stories at the front, 3 at the back but not sure what is where) and I wonder were those "thrown up" in the boom as they say.
http://www.daft.ie/1734318

7upfree

araic88 wrote: »

Does anyone know anything about the Bowefield estate In Gracedieu? I saw a nice house for sale there on daft but know nothing about the place. I can't get my head around the layout of the houses (set over 2 stories at the front, 3 at the back but not sure what is where) and I wonder were those "thrown up" in the boom as they say.
http://www.daft.ie/1734318

I think the spin was "enjoy split-level living in Waterford".

kspecial

spankmemunkey wrote: »

Theres land for sale there in Carraig An Aird for €150,000 with planning for 52 houses.

There's no planning on the land, it expired.