Property Market 2016

mirrorwall14 · 10-08-2016 6:23pm

mel123 wrote: »

If a house is on myhome, its only there a week/two max. I rang to see if i can view it, and got told its 'under offer'.
Is this normal? As in, would the estate agent not still be showing it to interested parties to see if they can get more money?

There's some very quick movement happening on houses. If someone wants it then it will be offered on very quickly and progress to sale agreed if the vendor is happy. We viewed a house and went sale agreed exactly 1 week later (after a second viewing)

Askthe EA · 11-08-2016 12:47pm

trobbin wrote: »

, almost as if they really don't want the add up, but legally have too.
.

If they are working for a receiver, they often have no choice but to leave it marked for sale until binding contracts are in place. Some receivers invite gazumping and so an estate agent will get the agreed sale price, does not want to show it again and encourage gazumping as its bad for their reputation. But they are obliged to follow their clients instructions. They will be vague on the phone as they dont know who they are speaking to.

mel123 · 11-08-2016 1:31pm

I just think if it was me selling my house, and i wasnt in an absolute mad panic, id be telling the estate agent to keep it open for a while and see what offers we get. At the end of the day you would think a seller wants the absolute maximum price.
Ive sold a house before, and been put under pressure to close, but for me i didnt give in, i wasnt getting put under pressure by anyone, it was my sale.

I defiantly agree with the poster above, a lot of deals getting done, and the ad's being put up are only to dot the i's type thing.

SarahMollie · 11-08-2016 1:33pm

mel123 wrote: »

I just think if it was me selling my house, and i wasnt in an absolute mad panic, id be telling the estate agent to keep it open for a while and see what offers we get. At the end of the day you would think a seller wants the absolute maximum price.
Ive sold a house before, and been put under pressure to close, but for me i didnt give in, i wasnt getting put under pressure by anyone, it was my sale.

I defiantly agree with the poster above, a lot of deals getting done, and the ad's being put up are only to dot the i's type thing.

You say that, but perhaps the vendor already has an offer in on a new place of their own and wants to get moving.

You never know.

mel123 · 11-08-2016 1:58pm

SarahMollie wrote: »

You say that, but perhaps the vendor already has an offer in on a new place of their own and wants to get moving.

You never know.

I know I get that, that's why I said if I wasn't in a panic ðŸ˜€

sweetie · 11-08-2016 3:32pm

trobbin wrote: »

I've heard of estate agents indulging in rouge practices for people whom they know personally. It's hard buying a house in Ireland. Loads of overpriced ****e for sale.

Hopefully they get caught red-handed!

Askthe EA · 11-08-2016 3:33pm

sweetie wrote: »

Hopefully they get caught red-handed!

The cheek of them ;-)

whiskeyman · 11-08-2016 3:37pm

I really feel prices in Dublin in certain areas are rising fast.
Properties that were in the 350 and slightly over are creeping well past 400k.
Those that were in the 400k range are hitting almost 450 offers... this is based upon the Property Price Register site of similar properties within the last 12 months.

draiochtanois · 11-08-2016 3:54pm

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Askthe EA · 11-08-2016 4:05pm

draiochtanois wrote: »

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Two prime residential areas Draioch.....

draiochtanois · 11-08-2016 4:22pm

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SarahMollie · 11-08-2016 4:27pm

draiochtanois wrote: »

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€75k above asking isnt that close IMO. Its almost 15%.

Askthe EA · 11-08-2016 4:50pm

draiochtanois wrote: »

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Without a quotation I assumed you were highlighting growing prices. Apologies. Having said that €75k above asking isnt pretty close.

draiochtanois · 11-08-2016 5:18pm

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Askthe EA · 11-08-2016 6:25pm

I wouldn't buy into that. Each property is different. Each EA is different. Some advertise low to stimulate interest. Some guide high as they promise the world to a vendor to get the property to sell.

Unless you have a good handle on the market it's hard to know. I just sale agreed a property 17k above asking. I valued it correctly but got a number of bidders who just really wanted it.

johnp001 · 12-08-2016 7:52am

Gerlach blames politicians and building sector as he warns of new housing crash

Cuddlesworth · 12-08-2016 4:01pm

draiochtanois wrote: »

This post has been deleted.

Sold in 2014, left to rot empty for 2 years(substantial damage done to property in the meantime) and then advertised at 2014 sale price of 350.

Sold for 46% over asking price. 162,000 Euros profit for holding property for 2 years.

St. Michael's Lodge, Cherrywood Road, Loughlinstown, Co. Dublin
€350,000 | 13/06/14 | Second-Hand Dwelling House/Apartment SOLD
St Michaels Lodge, Cherrywood, Loughlinstown, Co. Dublin
€512,000 | 27/05/16 | Second-Hand Dwelling House/Apartment

Dublin is getting hilarious and nobody seems to think that what goes up, must come down. Short memory's with some people.

Hollister11 · 12-08-2016 4:41pm

Cuddlesworth wrote: »

Sold in 2014, left to rot empty for 2 years(substantial damage done to property in the meantime) and then advertised at 2014 sale price of 350.

Sold for 46% over asking price. 162,000 Euros profit for holding property for 2 years.

St. Michael's Lodge, Cherrywood Road, Loughlinstown, Co. Dublin
€350,000 | 13/06/14 | Second-Hand Dwelling House/Apartment SOLD
St Michaels Lodge, Cherrywood, Loughlinstown, Co. Dublin
€512,000 | 27/05/16 | Second-Hand Dwelling House/Apartment

Dublin is getting hilarious and nobody seems to think that what goes up, must come down. Short memory's with some people.

I don't begrudge anyone making money.

I'm 20, so in the depts of the recession i was 15. But if i was 10/15 years older, I would of snapped up plenty of property, held them and sold them on.

There's 2 bed apartments where I live, right beside a train station. 5 0f them sold in 2011 for 80K, 3 similar are up for sale now for 190K, and 2 are up for rent for 1500 a month.

Rent wise that's a 22.5% ROI PER YEAR. That's incredible.
While sales wise that's a 57% ROI.

I'd say make what you can, don't let others people bad fortune put you off.

dubrov · 12-08-2016 4:53pm

Hindsight is 20/20.

The economic recession could have gotten far worse than in 2011 and most economic indicators were pointing that way.
That 2011 investment could've collapsed with falling rents and higher interest rates.

You would then get people rattling on about how overvalued property was in 2011 and how it was clear that the recession was only going to get worse.

Hollister11 · 12-08-2016 4:55pm

dubrov wrote: »

Hindsight is 20/20.

The economic recession could have gotten far worse than in 2011 and most economic indicators were pointing that way.
That 2011 investment could've collapsed with falling rents and higher interest rates.

You would then get people rattling on about how overvalued property was in 2011 and how it was clear that the recession was only going to get worse.

Sure I was only 15, so I couldn't off bought. But I learned a lot during the recession, so I am thankful for that.

yqtwqxqm · 12-08-2016 7:32pm

Making money in property is all about luck and balls.
You wont make money without both.

trobbin · 12-08-2016 7:38pm

yqtwqxqm wrote: »

Making money in property is all about luck and balls.
You wont make money without both.

It's like the Scarface of the Irish property parody.

jsd1004 · 12-08-2016 7:40pm

Hollister11 wrote: »

I don't begrudge anyone making money.

I'm 20, so in the depts of the recession i was 15. But if i was 10/15 years older, I would of snapped up plenty of property, held them and sold them on.

There's 2 bed apartments where I live, right beside a train station. 5 0f them sold in 2011 for 80K, 3 similar are up for sale now for 190K, and 2 are up for rent for 1500 a month.

Rent wise that's a 22.5% ROI PER YEAR. That's incredible.
While sales wise that's a 57% ROI.

I'd say make what you can, don't let others people bad fortune put you off.

There is an easy 20% yield on student properties near UL. Just completed sale for 170k. Property rented for a gross of 33k for the coming year.

12-08-2016 8:00pm

Hollister11 wrote: »

I don't begrudge anyone making money.

I'm 20, so in the depts of the recession i was 15. But if i was 10/15 years older, I would of snapped up plenty of property, held them and sold them on.

There's 2 bed apartments where I live, right beside a train station. 5 0f them sold in 2011 for 80K, 3 similar are up for sale now for 190K, and 2 are up for rent for 1500 a month. ..........

In this hypothetical situation how would you have financed the purchase of "plenty" of property when banks were slow to lend and rent prices were on the floor along with property prices?

Also what would have stopped you buying in the years leading up to the bust if you were so entrepreneurial?

Hollister11 · 12-08-2016 8:21pm

Augeo wrote: »

In this hypothetical situation how would you have financed the purchase of "plenty" of property when banks were slow to lend and rent prices were on the floor along with property prices?

Also what would have stopped you buying in the years leading up to the bust if you were so entrepreneurial?

What stopped me is that I was 15

VW 1 · 12-08-2016 8:55pm

Hollister11 wrote:

What stopped me is that I was 15

And at 20 you now have the means to fund the deposit required for plenty of BTL properties?

Hollister11 · 12-08-2016 9:02pm

VW 1 wrote: »

And at 20 you now have the means to fund the deposit required for plenty of BTL properties?

I said in my initial post, if I was 10-15 years older. So that puts me into my late 20 to early 30.

I would of had that money through working, and after working 5-8 years after completing college,living at home for a few years after college.
At least half of the 80K should be saved. In that position you would of more than likely got an 40K mortgage.

sweetie · 12-08-2016 9:15pm

Hollister11 wrote:

I said in my initial post, if I was 10-15 years older. So that puts me into my late 20 to early 30.

If my aunt had balls she'd be my uncle

trobbin · 12-08-2016 9:30pm

Hollister11 wrote: »

I said in my initial post, if I was 10-15 years older. So that puts me into my late 20 to early 30.

I would of had that money through working, and after working 5-8 years after completing college,living at home for a few years after college.
At least half of the 80K should be saved. In that position you would of more than likely got an 40K mortgage.

So basically if the in a different universe you'd be a property tycoon. But in this one you're a 20year old who's probably still in college with your life ahead of you, yet you're already thinking of what could've been.

12-08-2016 9:37pm

Hollister11 wrote: »

What stopped me is that I was 15

In the hypothetical situation you weren't 15, you were 10/15 years older and buying plenty of proporties;)

€40k would have been 1/2 of one of the €80k flats you mention, how many do you reckon a back would have financed for you? The €40k mortgage you mention you "more than likely" would have gotten would be one property, how would you have bought the rest of the plenty?

It doesn't seem that you learned too much tbh.

Property Market 2016

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