Saving/Applying for a mortgage 2015/16/17/18/19

intheclouds

Naid23 wrote: »

Estate agents seem to deliberately put the asking price lower then what they actually willing to accept for the property. Its soul destroying going to view a house thats save - 270k and suddenly its closer to 300k after bidding. Have experience this a few times so far this year.

Will be very surprised if we would be even sale agreed by christmas at this stage.

Yes, I wish it was required by law that if you offer the asking you get the house.

guile4582

Michael D Not Higgins wrote: »

Trading up.

where's the down?

I cannot see anything in Dublin worth living in sub 300k

Michael D Not Higgins

intheclouds wrote: »

Yes, I wish it was required by law that if you offer the asking you get the house.

You have to look at the unintended effects of imposing such a policy. In this case, all houses would be listed for €5million or next offer.

intheclouds

Michael D Not Higgins wrote: »

You have to look at the unintended effects of imposing such a policy. In this case, all houses would be listed for €5million or next offer.

Well I think they would be listed more realistically than that - that should be part of the rules!

Michael D Not Higgins

intheclouds wrote: »

Well I think they would be listed more realistically than that - that should be part of the rules!

Well then they'd be listed at the absolute maximum of what the rules allow. How would the value be determined? What leeway is allowed on the listing v. the valuation? How do you stop someone bidding above the listed price and having the owner accept it rather than your bid of asking?

Michael D Not Higgins

guile4582 wrote: »

where's the down?

I cannot see anything in Dublin worth living in sub 300k

I don't know your personal circumstances beyond your last post saying you're a single person. It's likely you can't afford to buy right now.

The council housing list has a cutoff for income of 35k net (48k gross) for a single person, showing that the government have identified anyone below that as unable to house themselves and eligible to join the list. It's unlikely you'd ever get a council house as the priority is lowest for single people without disabilities.

This is the reality of the housing market. Most single people will never buy unless they lower their expectations of location and/or size.

Arsen5

I went for newly built house (no bidding war all the houses have different asking prices from start depending on rooms, sizes, south facing gardens etc). Any down sides for buying new house?.

BondiJen

We have been looking in Dublin 14 for the last 6 months. We are sale agreed now and the prices that the houses are achieving are rising quickly from what I've seen.

We recently viewed one in Goatstown asking €595k for a 3 bed semi D in need of an update, new kitchen, new windows etc. Last we heard from EA it was at €676k and bidding was still going.

The last house that sold on the road went for €522k (registered on PPR in June this year , so it probably went sale agreed early 2016). The house was in similar condition but didn't have a garage conversion, it had similar scope to extend though. The price difference in less than a year is massive.

I am concerned if our current sale falls through we will be priced out of the area the way things are going.

guile4582

Michael D Not Higgins wrote: »

I don't know your personal circumstances beyond your last post saying you're a single person. It's likely you can't afford to buy right now.

The council housing list has a cutoff for income of 35k net (48k gross) for a single person, showing that the government have identified anyone below that as unable to house themselves and eligible to join the list. It's unlikely you'd ever get a council house as the priority is lowest for single people without disabilities.

This is the reality of the housing market. Most single people will never buy unless they lower their expectations of location and/or size.

depressing.com!

is there anywhere south of Stillorgan affordable? (to keep an eye on, because I cannot see anything now)
2 bed apartment territory - 300k?

audi12

BondiJen wrote: »

We have been looking in Dublin 14 for the last 6 months. We are sale agreed now and the prices that the houses are achieving are rising quickly from what I've seen.

We recently viewed one in Goatstown asking €595k for a 3 bed semi D in need of an update, new kitchen, new windows etc. Last we heard from EA it was at €676k and bidding was still going.

The last house that sold on the road went for €522k (registered on PPR in June this year , so it probably went sale agreed early 2016). The house was in similar condition but didn't have a garage conversion, it had similar scope to extend though. The price difference in less than a year is massive.

I am concerned if our current sale falls through we will be priced out of the area the way things are going.

Are people insane in Dublin 500 grand just for some posh postcode do ye see the prices of houses down the country and yes life does exist down here as do jobs etc

guile4582

audi12 wrote: »

Are people insane in Dublin 500 grand just for some posh postcode do ye see the prices of houses down the country and yes life does exist down here as do jobs etc

certain jobs (like mine ) are unfortunately only in Dublin (i am from down the country originally..am schtuck

intheclouds

Michael D Not Higgins wrote: »

Well then they'd be listed at the absolute maximum of what the rules allow. How would the value be determined? What leeway is allowed on the listing v. the valuation? How do you stop someone bidding above the listed price and having the owner accept it rather than your bid of asking?

I dont know the answers to the above but for me the 2 most frustrating parts were seeing houses advertised but then when I asked they were already gone way above the asking price AND the absolute lack of transparency with the bidding process. I am 100% convinced the estate agent we dealt with put in phantom bids to push us up. 100% convinced, but no way to prove it. The day he phoned to tell us our bid had been successful was not the happy event it should have been, it was tinged with bitter because we knew had been lied to. Its taints it. Thats just my opinion.

audi12

guile4582 wrote: »

certain jobs (like mine ) are unfortunately only in Dublin (i am from down the country originally..am schtuck!)

I know but surely renting for a few years is a better option instead of getting chained to a huge mortgage down the line you may get the chance to go home.

audi12

intheclouds wrote: »

I dont know the answers to the above but for me the 2 most frustrating parts were seeing houses advertised but then when I asked they were already gone way above the asking price AND the absolute lack of transparency with the bidding process. I am 100% convinced the estate agent we dealt with put in phantom bids to push us up. 100% convinced, but no way to prove it. The day he phoned to tell us our bid had been successful was not the happy event it should have been, it was tinged with bitter because we knew had been lied to. Its taints it. Thats just my opinion.

If you put in an offer and he claims there is another leave yours on the table and walk away he will come running soon enough there making fools of buyers.

guile4582

audi12 wrote: »

I know but surely renting for a few years is a better option instead of getting chained to a huge mortgage down the line you may get the chance to go home.

i'll be 40 in a few years!
i want my privacy and my life, can't even rent a place by myself. currently pay 900e a month sharing!
i know what you're saying though

matrim

audi12 wrote: »

I know but surely renting for a few years is a better option instead of getting chained to a huge mortgage down the line you may get the chance to go home.

Not everyone wants the country life. I've friends who did that move out of Dublin and had to move back because the commute was to much.

audi12

guile4582 wrote: »

i'll be 40 in a few years!

i know what you're saying though

So cant understand how couples on 40,000 or whatever a year buy a house for 300, or 400 grand a year and think it makes sense it doesnt.

Caliden

whiskeyman wrote: »

Jeebus!
Where was it though?
What were the sales like nearby?

Here's a cached page of it:
http://webcache.googleusercontent.com/search?q=cache:3SDBIHRGFPIJ:www.sherryfitz.ie/residential/for-sale/58991%3ForderBy%3D4+&cd=1&hl=en&ct=clnk&gl=ie

Can't find it on the PPR and it's gone from myhome, etc.
It was actually 140m2.

Found some similar that sold for between 400-450

whiskeyman

intheclouds wrote: »

I dont know the answers to the above but for me the 2 most frustrating parts were seeing houses advertised but then when I asked they were already gone way above the asking price AND the absolute lack of transparency with the bidding process. I am 100% convinced the estate agent we dealt with put in phantom bids to push us up. 100% convinced, but no way to prove it. The day he phoned to tell us our bid had been successful was not the happy event it should have been, it was tinged with bitter because we knew had been lied to. Its taints it. Thats just my opinion.

audi12 wrote: »

If you put in an offer and he claims there is another leave yours on the table and walk away he will come running soon enough there making fools of buyers.

Yep - if you're not happy with the counter bid, walk away.
In this current market in Dublin, I genuinely feel the EA's don't even need to think about phantom bids, that's if any of them did / do it of course
End of the day, you need to be happy with your own bid. There's no bargains to be had out there. It's a sellers market.
Houses that I would have loved to buy at the start of the year have now gone past my limit already. I'm nearly regretting I didn't push myself more now. It's gone mad.

apeking

We have gone sale agreed on a property at asking price in Dublin. Although the asking price is higher than any recent sales in the area by about 10%. So it is possible!

We were bidding below asking for a good few weeks with 2 other bidders. The other 2 bidders disappeared at 5k below asking. The seller (supposedly) came back saying they wouldn't except anything less than asking. So we offered asking and now sale agreed.

Just hoping the bank valuation is in agreement with the asking price. Not getting my hopes up just yet as I know these things don't always work out.

Got mortgage approval at end of July and qualified for the LTV exemption, hopefully all still ok with getting offer letter.

BondiJen

I agree that the prices are insane but I am from Dublin my family live in the area. Also, my work is in Dublin city centre. I am currently paying 1800 a month in rent - so my monthly mortgage will be less.

audi12

BondiJen wrote: »

I agree that the prices are insane but I am from Dublin my family live in the area. Also, my work is in Dublin city centre. I am currently paying 1800 a month in rent - so my monthly mortgage will be less.

Rent a room?

guile4582

you pay 1800e a month yourself?

audi12

guile4582 wrote: »

you pay 1800e a month yourself?

Thas what he said must be renting a mansion

intheclouds

audi12 wrote: »

If you put in an offer and he claims there is another leave yours on the table and walk away he will come running soon enough there making fools of buyers.

Thats what we did do and thats what happened but it left me with a bad taste.

guile4582

i would go out on a limb and say you are clearing 3500 a month.
Banks will love you!

BondiJen

We are going off topic here. To close out I am renting a 2 bed in Sandymount with my husband, not a mansion. That rent is not unusual in Dublin (close to the city).

My point was that as per the op question all the houses that I am seeing are going well over asking.

audi12

intheclouds wrote: »

Thats what we did do and thats what happened but it left me with a bad taste.

Esate agent down the country told me house could be gone if I didnt view it straight away when I called to ask about it. I told him to let it go so the silence on the other end of the phone was amusing house is still on the market born liars they are.

audi12

BondiJen wrote: »

We are going off topic here. To close out I am renting a 2 bed in Sandymount with my husband, not a mansion. That rent is not unusual in Dublin (close to the city).

My point was that as per the op question all the houses that I am seeing are going well over asking.

Let them go so buying in to that madness is not going to help you they are building more houses in two years supply will have caught up. Do people in Dublin remember the crash.

whiskeyman

audi12 wrote: »

Let them go so buying in to that madness is not going to help you they are building more houses in two years supply will have caught up. Do people in Dublin remember the crash.

Ah shure that's grand so... we'll all just put our feet up until then :rolleyes:

There's no new building in many areas with current high demand.
And yes, we remember the crash, and thankfully the CB rules are there.
Many of us have a big deposit behind us and are very focused on ensuring we watch affordability, however houses are just going to those at the next level due to lack of supply.
I'm in the very lucky position that I can afford a house in Dublin, it's just getting the right location, and it's the prices in those areas of high demand that seem to be going crazy at the moment.