Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

Markitron

givyjoe wrote: »

Yes, but as far as the vendor is concerned its not going ahead (with you), hence its back up on daft? You're taking an unnecessary by leaving your money with them. It's probably not a high risk right now, but still.

Right, I'll give it some thought and maybe run it by my solicitor.

givyjoe

Markitron wrote: »

Right, I'll give it some thought and maybe run it by my solicitor.

Not to endlessly go on about it, but there is also a reason to not ask for it back... should have it in original post. The EA has come back to you because they havent yet got a higher offer, not asking for it back might stop them from completely casting you aside as if you do, someone else matching your bid (or close to it) might lead them to accepting and going with them. The best option may be to just put whatever pressure you can on to get applications through with the other banks.

Markitron

givyjoe wrote: »

Not to endlessly go on about it, but there is also a reason to not ask for it back... should have it in original post. The EA has come back to you because they havent yet got a higher offer, not asking for it back might stop them from completely casting you aside as if you do, someone else matching your bid (or close to it) might lead them to accepting and going with them. The best option may be to just put whatever pressure you can on to get applications through with the other banks.

Yea I think that is kinda where I am at. I have set myself a deadline next week, after which I will ask for the deposit back and walk away for good.

Thanks for the input, it is much appreciated.

FrankN1

Is there any update on if viewing can resume in May?

ec18

FrankN1 wrote: »

Is there any update on if viewing can resume in May?

There will be nothing official about viewings until the government announcement next week

FrankN1

Thank You!

Ladybird25

random_banter wrote: »

If you're a really pedantic person and have the will, you could go all out crazy (like me) and do something like this ...

I started a spreadsheet at the start of 2020, and populated it with houses for sale that were of interest - there's a bit of variety on there, for example a number of localities near each other in Dublin, and also a stretch in the asking prices - because I think it's worth having a broader view of the market other than what's happening at your budget level. So I have some listings of interest that are way over budget, and some way under budget too.

I have different columns with basic info - e.g. locality, address, asking price, no. bedrooms, transport proximity, URL to listing, etc.

Then every couple of weeks I click on the URLs to see if there is a change to the listing like a change to the price, gone sale agreed, etc. I mark the status in a new column, with the asking price on that date. If the listing is gone, it's often because the EA wants it to look new or change the price upwards/downwards, but by having all the address details I can quickly search and check it myself - this bit sounds like it's arduous but it only takes 10 minutes to quickly click through them all every couple of weeks.

Once it's a long time sale agreed or the listing is totally gone I mark it sold unless I see it re-listed later (it's happened maybe twice).

So I keep adding new columns (marked with the current date) when I have new listings to add to the spreadsheet.

Then I check the PPR every couple of weeks too, a very quick scan in the areas that I'm interested in, if I see an address I recognise from the spreadsheet I update it in a column marked "sold price" and I have a little formula to tell me how far % wise under/over it went.

If I can't find the info and it's a house I was very interested in, I usually have been talking to the EA if it's one we viewed or enquired about. When you have formed a relationship with the EA they will generally be happy to share with you what the current offer or sold price is.

It sounds like a time consuming process to do but it's actually not that bad, and it's worth it to organise your thoughts and keep records and form your view of the market you're looking to buy in. So far I have just over 100 houses on the spreadsheet, of that around 80 have been sold or have been removed from for sale status, which leaves me with 15-20 to watch at any one time.

In general the last 4 months have been insane with bidding wars for properties in poor condition, so we have stayed away from bidding and only viewed ones we are very interested in.

I'm seeing a bit of a pick up in the last couple of weeks with more properties coming on stream than before, hopefully a sign of slightly better conditions to come. Has anyone else noticed this? (South Dublin for us).

That's some big work, to be fair to you. I have not being doing anything so detailed, just keeping up at looking and at this point I am just wondering if approaching this in the way I am it's not making this whole process of buying a house more difficult.

It's true in the last couple of weeks there seem to be more houses coming up available, however I am struggling with this bidding war system you have in Ireland (I'm foreign and moved to Ireland 5 years ago). I may take your idea in while we keep looking just to have a better idea of what's going on.

Cheers!

random_banter

DataDude wrote: »

Just as an FYI, something I do which is a little less manual than your PPR checking. You can download the database every week into excel. Quick Index/Match to identify new entries from the previous weeks download. Pivot to see all the new entries in your price range and county. It's not perfect, but it saves searching individual addresses!

coinflip wrote: »

Noble work! I'm lazy so I wrote a program to collect the data... Contains almost every sales listing on Daft in the last two years. Matched about 15k of these to the PPR when I had a look towards the end of last year. Planning to throw the data into a web app at some stage this year. This is the sort of data captured

url, address, area, county, first_published, last_published, longitude, latitude, eircode, property_type, surface_area, ber, bedrooms, bathrooms, number_of_images, facilities, features, seller_name, seller_type, selling_type, property_description, original_asking_price, final_asking_price, sales_price

Wow! I need to up my game. I used to have some programming skills but I wouldn't be capable of doing something like this - then again, there's never been a better time to brush up.

Good to hear some people are seeing similar to me with some more properties coming on stream now. Feeling a little more optimistic. Best of luck.

random_banter

Ladybird25 wrote: »

That's some big work, to be fair to you. I have not being doing anything so detailed, just keeping up at looking and at this point I am just wondering if approaching this in the way I am it's not making this whole process of buying a house more difficult.

It's true in the last couple of weeks there seem to be more houses coming up available, however I am struggling with this bidding war system you have in Ireland (I'm foreign and moved to Ireland 5 years ago). I may take your idea in while we keep looking just to have a better idea of what's going on.

Cheers!

Even just keeping a note of houses you liked and asking prices is worth it. Once you have seen a lot, you start to forget if you even have seen the listing before when it gets re-listed. I find it helps my brain to put a bit of structure on things or I would be all over the place.

Sweet.Science

https://www.myhome.ie/residential/brochure/23-beaupark-crescent-clongriffin-dublin-13-d13-ea89/4491831

You know when a house in Clongriffin is creeping close to a half a million euro offer it's time to step away for a while

odyssey06

Sweet.Science wrote: »

https://www.myhome.ie/residential/brochure/23-beaupark-crescent-clongriffin-dublin-13-d13-ea89/4491831

You know when a house in Clongriffin is creeping close to a half a million euro offer it's time to step away for a while

Its listed at 385k or has it had bids?

brianc27

https://www.daft.ie/for-sale/terraced-house-15-kildare-road-crumlin-dublin-12/3164468

And this small two bed terraced house in Crumlin is now at 367,000 with 4 people still bidding, madness

Sweet.Science

odyssey06 wrote: »

Its listed at 385k or has it had bids?

Bidding war

Shelga

Sweet.Science wrote: »

https://www.myhome.ie/residential/brochure/23-beaupark-crescent-clongriffin-dublin-13-d13-ea89/4491831

You know when a house in Clongriffin is creeping close to a half a million euro offer it's time to step away for a while

Christ. I want to like Clongriffin, but every time I see it or Belmayne, I just think of that movie Vivarium from last year, with Jesse Eigenberg :pac:

Row after row after row of identikit houses and apartment blocks, zero personality. Half a million euro, no thanks.

cubatahavana

Sweet.Science wrote: »

Bidding war

What’s the price now? I sold an apartment there for 323 last year in December (most expensive since the start of PPR) and as far as I know there are apartments listed that could very well go above that now

Kerry25x

Sweet.Science wrote: »

https://www.myhome.ie/residential/brochure/23-beaupark-crescent-clongriffin-dublin-13-d13-ea89/4491831

You know when a house in Clongriffin is creeping close to a half a million euro offer it's time to step away for a while

Don't know Dublin well enough to know the area but thats a nice house at least. They did a great job on the shed out the back.

FrankN1

That does look well to be fair.

JimmyVik

Kerry25x wrote: »

Don't know Dublin well enough to know the area but thats a nice house at least. They did a great job on the shed out the back.

That makes me want to convert my shed
Every shed, garage should be converted to a pub.

RichardAnd

brianc27 wrote: »

https://www.daft.ie/for-sale/terraced-house-15-kildare-road-crumlin-dublin-12/3164468

And this small two bed terraced house in Crumlin is now at 367,000 with 4 people still bidding, madness

And the ad says that it's available for VIRTUAL VIEWING [sic]. That would imply that none of those 4 bidders have set foot in that house. That house could go sale agreed for 100k over only for the sale to fall through after the victor views it. When nonsense like that is happening, you just know that this is a marker best left alone for a time.

Sweet.Science

RichardAnd wrote: »

And the ad says that it's available for VIRTUAL VIEWING [sic]. That would imply that none of those 4 bidders have set foot in that house. That house could go sale agreed for 100k over only for the sale to fall through after the victor views it. When nonsense like that is happening, you just know that this is a marker best left alone for a time.

Yeah and if it does fall through the vendor has an unrealistic valuation of the property in their head going forward

AlmightyCushion

Kerry25x wrote: »

Don't know Dublin well enough to know the area but thats a nice house at least. They did a great job on the shed out the back.

It doesn't look like that shed is insulated at all though. Looks nice but not much use when it is an icebox most of the time.

hold my beer

AlmightyCushion wrote: »

It doesn't look like that shed is insulated at all though. Looks nice but not much use when it is an icebox most of the time.

Easy to heat a relatively small space

RichardAnd

Sweet.Science wrote: »

Yeah and if it does fall through the vendor has an unrealistic valuation of the property in their head going forward

And if it doesn't fall through, that's one more estate agent who will feel like he's pulled off some sort of investment master-stroke.

Mind you, with an overshoot like that, I would say that it's an investor who is chasing that house.

JimmyVik

AlmightyCushion wrote: »

It doesn't look like that shed is insulated at all though. Looks nice but not much use when it is an icebox most of the time.

My Dad has one. Not as nice as that one in the post, but myself and my brother have made great use of it over the last year.
There is a 2Kw electric heater in it. You can swtich it on from google home or your phone or it goes on when someone is in the shed pub.

When its been on for 10 minutes the place is 21C. It then stays at via a thermostat that until there has been no movement for 15 minutes and it goes off.

Even in the dead of winter that heater was plenty to heat it and never took more than 10 minutes to get the place up to temperature.


Id love to build a nice modern one like in that post though.

Nika Bolokov

odyssey06 wrote: »

Its listed at 385k or has it had bids?

Bit of a stretch alright to call 385 close to half a million but a new development nearby has a lot of houses priced nearer the 500k mark.

An area adjacent Darndale etc not known for its buoyant property market traditionally.

Sweet.Science

Nika Bolokov wrote: »

Bit of a stretch alright to call 385 close to half a million but a new development nearby has a lot of houses priced nearer the 500k mark.

An area adjacent Darndale etc not known for its buoyant property market traditionally.

You're looking at the guide price. And Belcamp Manor is quite a distance from Darndale .

brianc27

Nika Bolokov wrote: »

Bit of a stretch alright to call 385 close to half a million but a new development nearby has a lot of houses priced nearer the 500k mark.

An area adjacent Darndale etc not known for its buoyant property market traditionally.

385 asking price, could definitely go close to 500 in a bidding war

ElBastardo1

Sweet.Science wrote: »

Yeah and if it does fall through the vendor has an unrealistic valuation of the property in their head going forward

This 100%

The House I was watching on Auctioneers started off at 420K and went to 438K and then fell through for whatever reason and now is back up starting off at 440K. These are Ex council houses and the area itself is dodgy-ish.

Sweet.Science

ElBastardo1 wrote: »

This 100%

The House I was watching on Auctioneers started off at 420K and went to 438K and then fell through for whatever reason and now is back up starting off at 440K. These are Ex council houses and the area itself is dodgy-ish.

I am in the same boat . Even if the one I was interested in fell through the seller will prob sit on it

TrangiaCoffee

Is it time to allow bidding on new builds and let contractors cash in on the extra money? It might give developers more incentive to build more houses. If private sales can go above asking like that, why can't new builds..