Charlesland House/Duplex Prices.

bido

There is a Duplex advertised for € 158,000 (4 bed.)
Are any 2 bed houses for sale for similar price .?

Langerland

Most probably! It's a buyers market!

Its crazy when one looks at myhome or daft and see's dated house prices.....wishful thinking!

Two Boys

Langerland wrote: »

Most probably! It's a buyers market!

Its crazy when one looks at myhome or daft and see's dated house prices.....wishful thinking!

I reckon you would get a 2 bed for that now, aparently a 3 bed house sold recently for just over 200K

homer911

bido wrote: »

There is a Duplex advertised for € 158,000 (4 bed.)
Are any 2 bed houses for sale for similar price .?

Link?

Mullie

Charlesland duplex mentioned in an article today...

http://businessetc.thejournal.ie/5-properties-to-view-in-north-wicklow-430484-Apr2012/

Overlooking Charlesland Golf Club??? Hmmm!

conlof

Depressing really.

bido

Great link thank u

bido

homer911 wrote: »

Link?

75 Charlesland Court,Greystones, Co. Wicklow.


€153,000
- 3 Bed Duplex For Sale



Share3

Robertr

Seems like a no brainer as an investment property for anyone who has access to the money. Price can't get any lower and should be easily be able to clear the mortgage with rental income?

2011

Robertr wrote: »

Seems like a no brainer as an investment property for anyone who has access to the money.

I wouldn't agree now just like I didn't when I was told the same in 2006.

Price can't get any lower

I have heard that before :rolleyes:

Langerland

Robertr wrote: »

Seems like a no brainer as an investment property for anyone who has access to the money. Price can't get any lower and should be easily be able to clear the mortgage with rental income?

Don't think we've seen the bottom yet....buyers still forcing prices downward....no credit....loads of supply....even more supply to come when new debt legislation comes through. Who knows where the bottom is....100k for a 2 bed? Possibly.

Robertr

Don't agree. I don't think the prices being quoted relate to the overall value of the properties. You could advertise a 3 bed duplex at 100k today and probably still not sell it. That does not mean it not worth it, just that there are no buyers in the market.

Once the buyers come back (and they will at some stage) I would expect the prices to reflect the intrinsic value of the property.

Only time will tell.

Two Boys

Robertr wrote: »

Seems like a no brainer as an investment property for anyone who has access to the money. Price can't get any lower and should be easily be able to clear the mortgage with rental income?

For a no brainer investment the Alsopp Auction is on today

2011

Robertr wrote: »

Don't agree. I don't think the prices being quoted relate to the overall value of the properties. You could advertise a 3 bed duplex at 100k today and probably still not sell it. That does not mean it not worth it, just that there are no buyers in the market.

Any property is only worth what it can be sold for. Simple as. If a given property can only be sold on the market for €100k then that is the "market value" i.e. that is all it is worth.
The consequence of banks not lending and economic crisis is that homes are worth less.

Once the buyers come back (and they will at some stage) I would expect the prices to reflect the intrinsic value of the property.

I agree that buyers will come back and prices will recover, but not for a long time IMHO. However at the moment prices appear to be in decline.

Charlesland's ever increasing maintenance fees do not help prices either particularly when an unspecified residential property tax is looming.

dubsgirl

2011 wrote: »

Any property is only worth what it can be sold for. Simple as. If a given property can only be sold on the market for €100k then that is the "market value" i.e. that is all it is worth.
The consequence of banks not lending and economic crisis is that homes are worth less.


I agree that buyers will come back and prices will recover, but not for a long time IMHO. However at the moment prices appear to be in decline.

Charlesland's ever increasing maintenance fees do not help prices either particularly when an unspecified residential property tax is looming.

Grove & Park are ever decreasing

Robertr

2011 wrote: »

Any property is only worth what it can be sold for. Simple as.

That’s my point exactly. These properties are not being sold at the moment at any price. You could just as easily say they are worth 5k as 500k.
We won’t know their true value until they start selling again. When they do, they first couple might go cheap but it’s my opinion that 3 beds won’t be regularly selling for less than 150k. Just can't see it when you take everything into consideration.

Langerland

There are some buyers out there and properties are being sold. The market is small so buyers have quite a lot of strength when it comes to negotiating price. It kills me to see apartments being sold for 50% of what I paid, but that's the reality. The price is the true market value in this market at present. To say when they start selling again is purely hypothetical I guess. That might not be any time in the next 5 years. A lot of things have to change, both internally and externally for that to happen. If anything, things will get marginally worse before we see small improvements. Even then, the improvements will depend on location and the property type. One would imagine there is a huge demographic waiting to move from apartment/duplexs to family houses. A far smaller demographic looking to move into Duplex or apartment complexes. It will all take a long time. The sooner the banks start greasing the wheels the better.

2011

Robertr wrote: »

We won’t know their true value until they start selling again.

Properties are selling right now in small numbers at low prices right across Ireland including Charlesland. The prices they sell at reflect their current value.

When they do, they first couple might go cheap but it’s my opinion that 3 beds won’t be regularly selling for less than 150k.

This is your prediction. In time we may find that you are correct, but right now the value of any given property is what someone will actually pay for it. Not a value that you feel it may be possible to sell it for at a future date.

My prediction is that prices will drop even further for many reasons. This includes water tax, property tax, more austerity measures, the banks still not lending, energy prices soaring etc.

2011

dubsgirl wrote: »

Grove & Park are ever decreasing

I think that it is fair to say that the overall trend is that management fees have increased. Along the way there may be an occasional reduction, but if you compare the annual cost now to the annual cost when the Grove & Park were first built I think you will find that the price has increased.

dubsgirl

2011 wrote: »

I think that it is fair to say that the overall trend is that management fees have increased. Along the way there may be an occasional reduction, but if you compare the annual cost now to the annual cost when the Grove & Park were first built I think you will find that the price has increased.

Nope not true - my management fees are down at least a couple of hundred euro since I first bought in 2006. This is largely due to the cancellation of the shuttle bus.

Sparks115

Dubsgirl is correct. I am in the Grove 7 years and my Managment fews have come down over €200 since we first moved in Happy days!!!!

matt-dublin

2011 wrote: »

I think that it is fair to say that the overall trend is that management fees have increased. Along the way there may be an occasional reduction, but if you compare the annual cost now to the annual cost when the Grove & Park were first built I think you will find that the price has increased.

not true, fees in the crescent have decreased significantly. in mine ive gone from 2300 down to 1600 and expect more savings next year

2011

matt-dublin wrote: »

not true, fees in the crescent have decreased significantly. in mine ive gone from 2300 down to 1600 and expect more savings next year

Yes, I see that. I thanked Dubsgirl over a week ago for that correction. From a landlord's perspective €1600 is likely to be over a months rent, so it will have to be taken into consideration by a perspective buyer.

My main point remains the same:

This is your prediction. In time we may find that you are correct, but right now the value of any given property is what someone will actually pay for it. Not a value that you feel it may be possible to sell it for at a future date.