Daft.ie, totally unrealistic asking prices

Freiheit

You know some of the prices on that site are absolutely insane,still celtic like. Is it the fault of the auctioneer or the owner or are both still stuck in a timewarp of the year 2006?.

Is there an index of actual sale prices on the way?. I think a lot of sellers are unrealistic and auctioneers appear to be fanning this delusion,good luck to them,there's hardly any money out there. Deep delusion.

monkey tree

I totally agree with you and what's even worse is the actual standard of the accommodation for rent out there.

I attempted moving apartment recently and was so shocked and might I add insulted with some of the places I saw. The asking prices are a joke and are obviously falsely inflated due to rent allowance.

I went into one Estate Agency and could not believe what they had to offer, it was also obvious they were cowboys. There was one place that might have suited me but the estate agent informed me that the landlord had upped his asking price recently by 100euro a month!!! Totally unbelievable stuff considering the economic climate etc.

ArraMusha

take 20-50% off all them prices and your closer to reality...

some of the ads on daft are there since 2008/9 and are now starting to rot, like ould cooking apples left in a cupboard and gone black and hairy.....

in need of a shave.:p

Klinsman

speaking of crazy rents on Daft.ie check out this place http://www.daft.ie/searchrental.daft?id=1109905 in fairness it is a cracking place but mad money.

noxqs

Too many bad apartments up for rent with laughable decor/furniture.

It looks like they took a time machine to the 70es and dumpster dived.

Would it hurt landlords to go splash a few 100 euros in IKEA to make it look modern and inviting ? Come on - if they want those kind of rents they'd need to stand out from the sea of crap that is currently the Dublin rentals.

The schadenfreude I feel watching these amateur 'buy-to-let' fools burn bigger and bigger holes in their pockets is, disturbingly, great. If they want to play the property game they'd better shape up and invest a bucket of paint and say.. 300 euros worth of IKEA furniture. Would make their kips look modern and nice. But these arrogant amateurs believe anyone will just rent their crap ? Oh, I hope they choke in their debt.

Anyways; As even the Allsop auctions are no longer selling as much as they expected, it seems even the auction prices are too high or the few who had cash spent em or are holding on to them. That can only mean lower auction prices, which means the rents will surely go down, and sooner or later someone will start spicing up their apts. And that will make these kips look even more ridiculous - so, it's not all bad. For renters.

The 'old' landlords who paid high prices will suffer greatly at the competition from people who bought the places at 1/3rd of the price they did, they will be better suited to compete for renters when they don't have such high mortages to repay. Irishlandlord.com I laugh at thee.

The_Honeybadger

I recently moved out of a rented house where I had a good relationship with the landlord, he came to return our deposit and mentioned that he was considering putting the place up for sale. When he told me what the EA had said it was worth I had a hard time to hold in the laughter, it was at least double what I would consider it to be worth. The prices on daft do not reflect reality, sellers are going to have to decide whether they actually want to sell or not because the prices on that site are insane. That said even if they lowered them the chances of getting a potential buyer with definate mortgage approval aren't great.

who_ru

I think rent allowance will be cut in December's budget, but by how much is anybody's guess.

the biggest problem renters face, at least in Dublin, is NAMA. It has roughly 10,000 housing units in the greater Dublin area and is not prepared to release them to the market for fear of driving down prices even more, which it would seem is not working anyway given the continued fall in asking prices.

NAMA says it is trying to maximize the return to the taxpayer, but it is also seeking to distort the market by trying to give some silly insurance against negative equity to tempt 1st time buyers in now at higher prices. But essentially NAMA is seeking to bribe taxpayers with their own money here.

rent allowance is a factor in high rents but don't forget NAMA.

mikemac

Plus one to the post on IKEA. Would it kill a landlord to put in decent furniture. This couch I have has some sort of plastic covering. Sat down on it yesterday in shorts and when I went to get up I was almost stuck to it.
Worst couch ever. And now the plastic is cracking from wear and it has sharp uncomfortable edges.

Freiheit wrote: »

Is there an index of actual sale prices on the way?. I think a lot of sellers are unrealistic and auctioneers appear to be fanning this delusion

But why would an estate agent do this?

As often said in here, their fee on an extra twenty thousand is not much at all, not worth delaying for weeks and months

Better for an EA to try to get sold and off their books quickly.

So is it a case that the sellers is checking different EA's and whoever lies the most and promotes the highest price gets the business?

Treehouse72

Freiheit wrote: »

Is there an index of actual sale prices on the way?.

Yes, perhaps before Christmas:

http://www.irishtimes.com/newspaper/property/2011/0915/1224304140805.html

Spiritofthekop

ArraMusha wrote: »

take 20-50% off all them prices and your closer to reality...

some of the ads on daft are there since 2008/9 and are now starting to rot, like ould cooking apples left in a cupboard and gone black and hairy.....

in need of a shave.:p

This in a nutshell.

I wonder why do those people pay daft.ie every month/year to have there silly priced house Ad up on daft for the last 2/3 years while everyone laughs at the price???


Have a look in here!!

http://www.boards.ie/vbulletin/showthread.php?t=2056346283

rainbowtrout

http://www.daft.ie/searchsale.daft?id=475810

This takes some beating....

Property Description:
Manhattan, Canary Wharf & Hong Kong pale in comparison to this magnificent one off property located in Carrick-on-Shannon's most sought after waterside developments. c. 2,000 sq.ft. penthouse apt. with private lift access spanning 4/5 beds, 4 baths and 2 balconies providing uninterruped views over the River Shannon, Carrick Town Centre and private crescent shaped marina. Private marina space included in the sale along with top quality fixtures, fittings and furnishings. An opportunity not to be missed!!!

Built on a flood plain no less. The same flood plain that flooded in November 2009. This is that development.

Posy

Well, it does say waterside development... :eek:

srsly78

Penthouse not gonna get flooded :pac:

Duckjob

srsly78 wrote: »

Penthouse not gonna get flooded :pac:

Might be worth it if they throw in a free boat.

average_runner

The prices on daft are reasonable if they are getting tenants.

If they dont get tenants they drop the price.

But people in Ireland expect things for nothing.

irishguy

Rental prices are reasonable and some sale prices too. Most properties in the city centre (that are half decent) go pretty quickly. There are quite a few really badly furnished places, I cant understand why they dont go off to IKEA.

Spiritofthekop

average_runner wrote: »

The prices on daft are reasonable if they are getting tenants.

If they dont get tenants they drop the price.

But people in Ireland expect things for nothing.

I think the OP was talking about house prices & not the rental market.

nacimroc

Been looking at buying for last few months. To be fair, most auctioneers will tell you how they argue with owners to drop prices. We have had auctioneers try push through reasonable offers only for owner to laugh them off. And so, they will sit. For years upon years until either the bank takes them back and sells them at reasonable prices or they come to their senses.

Can't believe that people still value their house based on what they paid for it during the over inflated fake ecomony. People need to accept there was an enormous crash and they way overpaid.

Spiritofthekop

nacimroc wrote: »

Been looking at buying for last few months. To be fair, most auctioneers will tell you how they argue with owners to drop prices. We have had auctioneers try push through reasonable offers only for owner to laugh them off. And so, they will sit. For years upon years until either the bank takes them back and sells them at reasonable prices or they come to their senses.

Can't believe that people still value their house based on what they paid for it during the over inflated fake ecomony. People need to accept there was an enormous crash and they way overpaid.

Yeah agree with all. Although some of auctioneers I've come across are as bad as the owner when it comes to be honest about the reality of the price.

To be honest you would be mad buying right now unless you come across some real value for your euro cause there is so little value still out there in the market especially in Dublin.

MrThrifty

I blame the auctioneers... They are meant to be the professionals in terms of valuing property etc. Instead they are mostly afraid to advertise realistic asking prices for fear it will show how bad things have gotten. Both sellers and buyers in a lot of cases know that asking prices are meaningless, just for show really. These days you see people making reasonable offers 50-100k less than the selling price.

rat_race

My site (www.daftdrop.com) which tracks prices on Daft, has seen a small decline in the number of price drops per month over the last few months...still continueing to drop though (http://www.daftdrop.com/#!graphView) ...pretty consistently.

If/when CSO release actual prices, I plan to try to link them up to houses in my database so people can search through them.

Snakeblood

rat_race wrote: »

My site (www.daftdrop.com) which tracks prices on Daft, has seen a small decline in the number of price drops per month over the last few months...still continueing to drop though (http://www.daftdrop.com/#!graphView)...pretty consistently.

If/when CSO release actual prices, I plan to try to link them up to houses in my database so people can search through them.

This is an excellent site.

rat_race

Snakeblood wrote: »

This is an excellent site.

Thanks Any suggestions, let me know...

Snakeblood

rat_race wrote: »

Thanks Any suggestions, let me know...

The only thing I can think of offhand is if it would be possible to filter by Dublin code, like Dublin 2, etc. It's hard to pick by that metric. I just noticed the charts now. Also cool.

Thanks!

rat_race

Snakeblood wrote: »

The only thing I can think of offhand is if it would be possible to filter by Dublin code, like Dublin 2, etc. It's hard to pick by that metric. I just noticed the charts now. Also cool.

Thanks!

Yep, this is in the pipeline...I'm just very busy at the moment, but I'll add that functionality next. I can see a lot of people searching for "Dublin 4", for e.g., and getting back non-D4 results that contain 'Dublin' and '4' in the address...annoying.

Anyway, I'll stop hijacking the thread now...

nacimroc

rat_race wrote: »

My site (www.daftdrop.com) which tracks prices on Daft, has seen a small decline in the number of price drops per month over the last few months...still continueing to drop though (http://www.daftdrop.com/#!graphView) ...pretty consistently.

Have to agree. Absolutely great site for someone like me, who is looking to buy now.

If you were to try get previous prices pre May '11 off daft, it would make a massive difference I'd say. Can't see why they wouldn't oblige as long as each house for sale linked to their site.

Spiritofthekop

Great website, well done

rat_race

Thanks folks!

Snakeblood, I just rememberd your asked me the same thing on the pin not too long ago

Snakeblood

rat_race wrote: »

Thanks folks!

Snakeblood, I just rememberd your asked me the same thing on the pin not too long ago

Well, I get around :-)

BenEadir

MrThrifty wrote: »

I blame the auctioneers... They are meant to be the professionals in terms of valuing property etc. Instead they are mostly afraid to advertise realistic asking prices for fear it will show how bad things have gotten. Both sellers and buyers in a lot of cases know that asking prices are meaningless, just for show really. These days you see people making reasonable offers 50-100k less than the selling price.

I'm not an auctioneer or estate agent - let me get that out of the way early on!!

Auctioneers/Estate Agents take instructions from their clients - they can advise all they like about what they think a particular property will sell for but if the client wants to try and sell it for a higher price that's their prerogative.

In the good/bad old Celtic Tiger days an Auctioneer/Estate Agent wouldn't waste their time trying to sell for an un-achievable price as there were so many other do-able deals they could profitably spend their time on but nowadays whoever agrees to put the property on the market for the highest price tends to get the business so with so few transactions actually happening Auctioneers/Estate Agents are having to take on everything they can get their hands on just to be seen to have a lot of stock and to to be seen to be getting deals done in the hope that if they take on enough listings some of them will turn into sales.

I wouldn't blame the Auctioneers/Estate Agents too much. If they only took on listings at prices they thought would be achievable they'd probably have nothing to sell!!!

From a buyers perspective who cares what the asking price is? Find a house that meets your criteria in terms of location, size, layout etc, go along to view it and offer what the property is worth to YOU. All they can say is "NO".

Ben

Snakeblood

BenEadir wrote: »

I'm not an auctioneer or estate agent - let me get that out of the way early on!!

Auctioneers/Estate Agents take instructions from their clients - they can advise all they like about what they think a particular property will sell for but if the client wants to try and sell it for a higher price that's their prerogative.

In the good/bad old Celtic Tiger days an Auctioneer/Estate Agent wouldn't waste their time trying to sell for an un-achievable price as there were so many other do-able deals they could profitably spend their time on but nowadays whoever agrees to put the property on the market for the highest price tends to get the business so with so few transactions actually happening Auctioneers/Estate Agents are having to take on everything they can get their hands on just to be seen to have a lot of stock and to to be seen to be getting deals done in the hope that if they take on enough listings some of them will turn into sales.

I wouldn't blame the Auctioneers/Estate Agents too much. If they only took on listings at prices they thought would be achievable they'd probably have nothing to sell!!!

From a buyers perspective who cares what the asking price is? Find a house that meets your criteria in terms of location, size, layout etc, go along to view it and offer what the property is worth to YOU. All they can say is "NO".

Ben

I'd be inclined to agree with this, with the caveat that I think EAs etc. *should* push their clients to drop price. If their job is to sell the house, then they are doing a disservice to their clients if they don't advance the notion.

I went to a few EAs to sell my apartment and most of them told me the place was worth about 200 grand, and only one suggested pushing me towards 150. I went with that guy as he seemed to not be completely deluded about the market.