Selling House

Saipanne

RiseNshine wrote: »

Will prob do as you suggest. Watch this space. I think it must be said Property prices fell too far after 2007. Dublin is finding its true value and property while still 40% below peak is undervalued compared to other European capitals by 10%. As unemployment falls, exports increase. More FDI comes to Ireland property will rise by 5% minimum per year. Watch this space. People won't sell for peanuts

True value...

mariaalice

RiseNshine wrote: »

Will prob do as you suggest. Watch this space. I think it must be said Property prices fell too far after 2007. Dublin is finding its true value and property while still 40% below peak is undervalued compared to other European capitals by 10%. As unemployment falls, exports increase. More FDI comes to Ireland property will rise by 5% minimum per year. Watch this space. People won't sell for peanuts

You have got to stop personalising this of course the buyers will try and get the house at the best possible price you would do the same the buyers are not out to get you personally. Have a polite profession relationship with your EA.

trobbin

RiseNshine wrote: »

Will prob do as you suggest. Watch this space. I think it must be said Property prices fell too far after 2007. Dublin is finding its true value and property while still 40% below peak is undervalued compared to other European capitals by 10%. As unemployment falls, exports increase. More FDI comes to Ireland property will rise by 5% minimum per year. Watch this space. People won't sell for peanuts

You asked for opinions, but I guess you don't need them. You keep listening to mainstream news; RTE, TV3, probably listen to Today FM, and Newstalk also. Keep listening to the qualified people, Economists and politicians and bankers. Because that's want you want to hear. And believe me, they'll tell you what you want to hear. After all, those people never put anyone wrong before, and certainly won't in the future.

On another note: I'm very interested in who carried out the study that told you Dublin is undervalued compared to other European capitals. Could you post a link maybe? Disposable income comparisons are a truer reflection on future commodities.

tenifan

RiseNshine wrote: »

Will prob do as you suggest. Watch this space. I think it must be said Property prices fell too far after 2007. Dublin is finding its true value and property while still 40% below peak is undervalued compared to other European capitals by 10%. As unemployment falls, exports increase. More FDI comes to Ireland property will rise by 5% minimum per year. Watch this space.

I'm not saying you're wrong. In fact, I think you're right and house price will rise over the next year. But at the end of the day, you do not know what is going to happen with house prices any more than you know whether tesco shares will rise or fall. Plucking figures out of the air, property could gain 10% a year for 10 years, then crash 40%. You're not a financial guru just because house prices happened to increase a few percent over the course of a year.

Property is not a liquid asset, so if you're looking to sell quickly you will lose a lot of money compared to someone who can be patient. That being said, market value is market value and all the patience in the world will not help you to get a higher price for your house than what it is actually worth.

Electric Sheep

RiseNshine wrote: »

Will prob do as you suggest. Watch this space. I think it must be said Property prices fell too far after 2007. Dublin is finding its true value and property while still 40% below peak is undervalued compared to other European capitals by 10%. As unemployment falls, exports increase. More FDI comes to Ireland property will rise by 5% minimum per year. Watch this space. People won't sell for peanuts

Sensible people won't buy for more than a house is worth. People have become more sensible.

jay0109

This thread is great craic....is it satire?

Potatoeman

RiseNshine wrote: »

Will prob do as you suggest. Watch this space. I think it must be said Property prices fell too far after 2007. Dublin is finding its true value and property while still 40% below peak is undervalued compared to other European capitals by 10%. As unemployment falls, exports increase. More FDI comes to Ireland property will rise by 5% minimum per year. Watch this space. People won't sell for peanuts

We have been repeatedly told peak was 'madness' so Im not sure how looking at that helps. What did you pay for it?

I have an Aunt with a property in the midlands that she kept as it was increasing in value during the boom then the bust happened and eventually had to sell for a fraction of what it was worth as she needed the cash. She still made a profit as she bought it cheap 20 years previously but she still moans about missing the boat.

iguana

Tbh, OP I believe that the majority of readers on this thread are right and Dublin prices are much more likely to fall next year than rise. What I've heard from people who work in this area is that the peak of this round of increases was reached in Q2 and interest is falling now and will probably continue to do so. That said it's far from impossible that your EA is trying to pull a fast one and sell your house to a friend/colleague/relative for a discount. That does happen and if I were you my first move would be to check that out.

There are two things you can do. First off do a search through the board here for mentions of your EA. That can be very telling if people have described their dealings with them. The thread here on Castles EA makes for extremely interesting reading, for example. Secondly, you can try something more specific to your property. Get a trusted friend/relative to call your EA posing as someone interested in your house. Decide on a back story that makes that person seem like a buyer in a good position, ie, chain free, 30% deposit and mortgage approval. Have them hint that they would possibly be interested in making an offer close to the asking price, maybe by mentioning in conversation their belief that prices will rise significantly next year. If your EA fobs them off, you will know right away that there is most likely something dodgy going on as any EA who wants to get the best price for the house will be quick to try sell to a buyer like that. But if the EA is eager and does do his best to promote the house, then you know that the EA is on the level and the problem is lack of buyers at your price level.

superman28

I would reduce the asking price of your house if you want to sell it,, asset prices are extremely volitile (a concept Irish people don't seem to grasp),, you are almost certainly selling at the peak of a localised bubble and should take advantage of this fact..

I am one of the few who expects prices to decrease by a few % next year,, cash was driving the market in 2014, with the CGT exemption over,, the mini bubble has peaked.. the simple fact is there is no credit,, extremly high interest rates (2% higher than the rest of Europe), flat wage growth.. signs are showing already,, just check the purple price drops on myhome,, sellers are realising that there high asking prices are not realistic..

http://www.myhome.ie/pricechanges?RegionID=1265&LocalityIDs=

Eldarion

superman28 wrote: »

I am one of the few who expects prices to decrease by a few % next year...

This thread is getting hilarious. Anybody who has done any attempt at due diligence is expecting house prices to decrease next year.

handlemaster

RiseNshine wrote: »

Will prob do as you suggest. Watch this space. I think it must be said Property prices fell too far after 2007. Dublin is finding its true value and property while still 40% below peak is undervalued compared to other European capitals by 10%. As unemployment falls, exports increase. More FDI comes to Ireland property will rise by 5% minimum per year. Watch this space. People won't sell for peanuts

prices in 2007 were bubble prices so I wouldn't been looking at thoses as a guide in any way.

draiochtanois

This post has been deleted.

Electric Sheep

Potatoeman wrote: »

I have an Aunt with a property in the midlands that she kept as it was increasing in value during the boom then the bust happened and eventually had to sell for a fraction of what it was worth as she needed the cash.

No, she sold it for what it was worth. A house is only worth what someone is willing to pay for it.

tenifan

Electric Sheep wrote: »

No, she sold it for what it was worth. A house is only worth what someone is willing to pay for it.

I think Potatoeman meant she "eventually had to sell for a fraction of what it used to be worth"

P. Breathnach

Herself and I are living in the same house since well before the bubble.

We made a fortune, and lost it again. All without lifting a finger.

Electric Sheep

tenifan wrote: »

I think Potatoeman meant she "eventually had to sell for a fraction of what it used to be worth"

or a fraction of what she felt it should be worth.

Saipanne

draiochtanois wrote: »

You say house prices will fall but rents will rise.

But if the rental stream increases then it's likely that will be a driver for property prices to increase nullifying the effects of your proposed fall/

Not sure what role you claim to have in banking but woe betide us if this is what passes for coherent analysis of any sort ...

You're not making any sense, because you're only looking at factors in isolation. A common mistake for those uneducated in economics. The fact is that credit is not available for house purchases, and with the new cbi rules the supply of credit will fall further still. So, while I predict that rents will rise, and this rise might be expected to lead to higher demand for property purchases, the credit is either simply not available, and the cbi limits will mean this higher demand will have a limited effect on realised demand. Therefore prices will either stagnate or fall, while rents rise.

Leave this discussion to the big boys, lad...

RiseNshine

Very good point but done on this thread are talking prices down without much economic data to support their view. Just pub talk over a pint....we'll I think dat houses are gonna fall....slurp!

jay0109

RiseNshine wrote: »

Very good point but done on this thread are talking prices down without much economic data to support their view. Just pub talk over a pint....we'll I think dat houses are gonna fall....slurp!

Ah, you've convinced me now. Your just stirring the pot here, to suck out all those that believe house prices are going to continue to rise forever because 'Ireland is different'.:p
Your some craic:D

draiochtanois

This post has been deleted.

Saipanne

draiochtanois wrote: »

I think you may have overlooked the fact that if rental yields rise as you predict then commercial investors who don't need to borrow or aren't affected by these rules will enter the market - oh wait one shouldn't look at factors in isolation as some "highly educated" economist once said ....

I haven't. I fail to see how that would offset the effect the lack of credit/new CBI rules will have on non btl assets (the vast majority of residential assets). Again, looking at multiple factors instead of one.

You're boring me. Say something interesting next or I won't bother responding.

NotCominBack

RiseNshine wrote: »

Very good point but done on this thread are talking prices down without much economic data to support their view. Just pub talk over a pint....we'll I think dat houses are gonna fall....slurp!

no data needed here, you have stated a fact that you aren't getting the price you want - why? very simply because you missed the boat my old son - most of the delirious "rush out and buy buy buy now now now before prices go through the roof" are gone

RiseNshine

Wait until you go and sell something and the person buying wants to screw you.....karma!

RiseNshine

I never said I wanted a high price. All I want is a fair price and your response is vindictive.

spockety

This thread is surely a total pisstake? Am I the only one seeing it that way?

HeidiHeidi

spockety wrote: »

This thread is surely a total pisstake? Am I the only one seeing it that way?

Nope. Maddest thread I've seen in a long time. Can't figure out what the OP is at at all.

tenifan

RiseNshine wrote: »

I never said I wanted a high price. All I want is a fair price and your response is vindictive.

If you don't mind me asking, how much are you asking for your house?
In Euros (as opposed to as a percentage of the price in 2007)

RiseNshine

That's not for discussion. What is up for discussion is how the market is trending.

NotCominBack

spockety wrote: »

This thread is surely a total pisstake? Am I the only one seeing it that way?

Absolutely, if the dude put half the effort into selling his house, as he has put into this thread, then he would get whatever he was asking

RiseNshine

If you have nothing substantive to offer then why bother joining the thread