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

cintec

Reins wrote: »

Percentage wise how much over? If you don't mind sharing.

Congrats!

not sure on the percentage it went for 25k above asking price.

kalkat2002

cintec wrote: »

not sure on the percentage it went for 25k above asking price.

Did you already visited it?

Regards & congrats

optogirl

Right, I'm out. Just got outbid on about the 10th house we've gone for in the past 6 months. Bidding currently at 50k over asking on one of the less desirable roads in Cabra. We feel like just forgetting about it all for 6 months and see if the heat comes out of the market. If not we are stuck renting, in our 40s with 2 kids and remain under the landlord's sword of Damocles. Good luck to all!

cravings

it's incredible these days. someone i know is looking at similar properties to you.. probably some of the same ones. it's nuts right now. and they don't really have the option to continue renting.. they sort of have to buy now for various reasons. it's really tough.

hope you can come back to it at a better time in the "cycle"

kalkat2002

optogirl wrote: »

Right, I'm out. Just got outbid on about the 10th house we've gone for in the past 6 months. Bidding currently at 50k over asking on one of the less desirable roads in Cabra. We feel like just forgetting about it all for 6 months and see if the heat comes out of the market. If not we are stuck renting, in our 40s with 2 kids and remain under the landlord's sword of Damocles. Good luck to all!

Sorry for that....but wondering in dublin should be biding worst than ebay....
We bid for in baltinglass and after two months we went sale agreed 20 k higher than asking price...and seller is biding in dublin so you can imagine my faith...

Best of luck

cintec

kalkat2002 wrote: »

Did you already visited it?

Regards & congrats

I have viewed yesterday and then went sale agreed, I was only able to view virtually while bidding and once I was the highest bidder I was allowed to view.

tobsey

WacoKid wrote: »

Quick story:

Friend bids up to €585,000 for a €490,000 house and goes sale agreed based on virtual viewing.

Had his actual viewing recently and sees it's not in great condition, and much worse than pics/videos online portray. Decides to pull out. He said if he had seen the house in person and understood its faults he would have max. bid to about €510,000.

So...If the next in line are contacted and their bid of say €580,000 is accepted then they go sale agreed. It may fall through again...or they buy the property at this price.

In person viewings may have seen this house sell for say €530,000, and it may have never got to the €580,000 virtual viewing price in the first place. Estate agents seem more than happy to continue with virtual viewings as, even though the sale may fall through, they are getting a greater price for the house.

This is just one example of many I believe shows the current market is dysfunctional.

I can't imagine this is true for any estate agents. If the sale falls through the agent gets nothing. While it's good for their reputation to get a good price for a property, they are far better off getting 1% of 400k than 0% of 450k if a sale falls through.

Ask any estate agent and they will say they want more closures, not higher prices achieved.

Hoping to see more stuff flowing into market as viewings open up. Buying in Cork and there's definitely slightly more going up but it's still pretty miserable at moment.

kalkat2002

tobsey wrote: »

Ask any estate agent and they will say they want more closures, not higher prices achieved.

In the current climate, however, it is unlikely as it is a seller's market and getting a buyer for a property is easy at the moment.

Regards

FouxDaFaFa

An apartment came up for sale in a complex I really like (and unsuccessfully tried to buy in a few months ago) and I got very excited, only to see that it will sell by auction and to my limited first-time buyer knowledge, mortgages and auction sites don't really go together due to the unconditional nature of the sale.

I've been outbid four times now and I've seen some truly baffling bidding going on, I'm just hoping that the easing of restrictions might ease things slightly. Even a few % would make things so much more doable.

Reins

FouxDaFaFa wrote: »

An apartment came up for sale in a complex I really like (and unsuccessfully tried to buy in a few months ago) and I got very excited, only to see that it will sell by auction and to my limited first-time buyer knowledge, mortgages and auction sites don't really go together due to the unconditional nature of the sale.

I've been outbid four times now and I've seen some truly baffling bidding going on, I'm just hoping that the easing of restrictions might ease things slightly. Even a few % would make things so much more doable.

Yes - 10th of May viewings resume - share your hope that some sanity comes back in to the market and more stock comes on too.

brianc27

Went sale agreed yesterday, booking deposit paid today, managed to view this place in person and it was as nice as the photos online, looked in immaculate condition on the surface (survey still needed to be sure) comes with the furniture that was already there, which looks decent enough, saves me rushing to get it furnished, ended up going 50 grand above asking price but was still well in my budget, stressful few months looking at places going for mad money and no viewings and fvck all places on the market so feel lucky enough to have got a place as nice as I did, glad that chapter is over, deleted all my daft searches, I never want to see another daft.ie email again

LasersGoPewPew

We are in a similar position to you optogirl. Bid on many apartments and houses in the past 1.5 years but constantly find ourselves being outbid. I have a problem bidding 'at all costs' because it's not a forever home. At first, we wanted a 2bed apartment but now those are going for up to 650k which I can't wrap my head around. We have since changed our budget to buy a house. We placed a bid on a nice house in south dublin last year but ended up being outbid in the end and sold for 150k over list price.

I have noticed a lot of properties of interest have gone sale agreed in the past few months have now reappeared on the market for the sale agreed price. I can't stomach the prices currently being asked for low-quality properties, I know it's supply/demand but still sickening. Hindsight is annoying, given the chance again we would have purchased one of those properties we bid on previously. I remain optimistic that we will find something, we must persist.

LasersGoPewPew

brianc27 wrote: »

Went sale agreed yesterday, booking deposit paid today, managed to view this place in person and it was as nice as the photos online, looked in immaculate condition on the surface (survey still needed to be sure) comes with the furniture that was already there, which looks decent enough, saves me rushing to get it furnished, ended up going 50 grand above asking price but was still well in my budget, stressful few months looking at places going for mad money and no viewings and fvck all places on the market so feel lucky enough to have got a place as nice as I did, glad that chapter is over, deleted all my daft searches, I never want to see another daft.ie email again

Congratulations Brian, I hope it all works out for you. What area did you buy in if you don't mind me asking?

morrissey1307

brianc27 wrote: »

Went sale agreed yesterday, booking deposit paid today, managed to view this place in person and it was as nice as the photos online, looked in immaculate condition on the surface (survey still needed to be sure) comes with the furniture that was already there, which looks decent enough, saves me rushing to get it furnished, ended up going 50 grand above asking price but was still well in my budget, stressful few months looking at places going for mad money and no viewings and fvck all places on the market so feel lucky enough to have got a place as nice as I did, glad that chapter is over, deleted all my daft searches, I never want to see another daft.ie email again

Great stuff, well done!

Jmc25

I have been getting Daft alerts for certain areas in north Dublin for a couple of months now and this morning seems to be the highest number of new properties I've seen advertised in one day. I'm hopeful that this is the start of some of the supply which was being held back (which nearly every estate agent I've spoken to has mentioned) coming onto the market now that viewings are going to recommence.

Maybe I'm being too optimistic though...Anyone else seeing something similar in areas they're interested in?

Lia_lia

[Deleted User] wrote: »

Hoping to see more stuff flowing into market as viewings open up. Buying in Cork and there's definitely slightly more going up but it's still pretty miserable at moment.

Also noticing more going up in Cork. Nothing we are really interested in but hoping it’s the start of more supply..

givyjoe

Jmc25 wrote: »

I have been getting Daft alerts for certain areas in north Dublin for a couple of months now and this morning seems to be the highest number of new properties I've seen advertised in one day. I'm hopeful that this is the start of some of the supply which was being held back (which nearly every estate agent I've spoken to has mentioned) coming onto the market now that viewings are going to recommence.

Maybe I'm being too optimistic though...Anyone else seeing something similar in areas they're interested in?

Personally, I think we see a bit of bump in supply and then maybe back to a trickle. Im hoping that will be enough to at least find one decent property that doesn't end in a bidding war.

Lia_lia

Lia_lia wrote: »

Also noticing more going up in Cork. Nothing we are really interested in but hoping it’s the start of more supply..

Ya, today has an uptick. Have a viewing on the 10th. I'll likely bid on it provided it doesn't go more than 20k over asking.... Which can be hit and miss atm.

Gru

we just bought in Cork,

Went Sale agreed in December at asking price, had a slight issue with certification that delayed things, but eventually closed this week.

With Covid things are strange out there, we were lucky enough to view in November before things changed,

but keeping an eye on prices around us for the past few months i found the city area's like Douglas seem slow to move these days yet Carrigaline's house's were gone "sale agreed" in a week, the exact opposite of what was happening in November. it's fluctuating wildly in Cork in a mix of the panic seen in Dublin and then slowdowns in area's that would have been "much sought after" before...

pleh

Gru wrote: »

we just bought in Cork,

Went Sale agreed in December at asking price, had a slight issue with certification that delayed things, but eventually closed this week.

With Covid things are strange out there, we were lucky enough to view in November before things changed,

but keeping an eye on prices around us for the past few months i found the city area's like Douglas seem slow to move these days yet Carrigaline's house's were gone "sale agreed" in a week, the exact opposite of what was happening in November. it's fluctuating wildly in Cork in a mix of the panic seen in Dublin and then slowdowns in area's that would have been "much sought after" before...

Well done congratulations

whiskeyman

Jmc25 wrote: »

I have been getting Daft alerts for certain areas in north Dublin for a couple of months now and this morning seems to be the highest number of new properties I've seen advertised in one day. I'm hopeful that this is the start of some of the supply which was being held back (which nearly every estate agent I've spoken to has mentioned) coming onto the market now that viewings are going to recommence.

Maybe I'm being too optimistic though...Anyone else seeing something similar in areas they're interested in?

Deffo seeing more come up.
Problem is a lot of the asking prices are based upon recent sales, so some huge jumps.
I know the demand was there to drive the prices up during the past few months, but can't see it being sustained should more come on.

Sweet.Science

I was bidding on a 3 bed terrace house in donaghmede Dublin

Latest bid is 403k . Can only laugh

brianc27

Sweet.Science wrote: »

I was bidding on a 3 bed terrace house in donaghmede Dublin

Latest bid is 408k . Can only laugh

I'm donaghmede, jesus, have you got a link to that by any chance

Sweet.Science

brianc27 wrote: »

I'm donaghmede, jesus, have you got a link to that by any chance

https://www.daft.ie/for-sale/terraced-house-24-donaghmede-avenue-donaghmede-dublin-13/3197263

Jmc25

Sweet.Science wrote: »

I was bidding on a 3 bed terrace house in donaghmede Dublin

Latest bid is 403k . Can only laugh

I saw the bidding on a three bed terraced house in Artane go to 475. Last sale in the estate was a semi detached for 390 and only hit the PPR in March.

To me, close on a half a million for a run of the mill terraced house in Artane is nothing short of insanity.

Sweet.Science

Jmc25 wrote: »

I saw the bidding on a three bed terraced house in Artane go to 475. Last sale in the estate was a semi detached for 390 and only hit the PPR in March.

To me, close on a half a million for a run of the mill terraced house in Artane is nothing short of insanity.

Yeah have seen it all . 420k in clarehall . 440k for clongriffin . 420k in Grange Woodbine .

Jmc25

Sweet.Science wrote: »

Yeah have seen it all . 420k in clarehall . 440k for clongriffin . 420k in Grange Woodbine .

Quick check of the PPR suggests that if these sales go through at these prices then we're looking at 10-15 per cent price inflation over a 2/3 month period for those areas - and other people on here are saying basically the same things about other areas.

If it keeps going, and frankly its showing no sign of stopping, then will we be looking at over 20 per cent increases by the end of the year. For the last couple of years we've been something like 21 or 22 per cent off the Celtic Tiger peak and that peak seeks to be where we're heading at the moment.

Sweet.Science

Jmc25 wrote: »

Quick check of the PPR suggests that if these sales go through at these prices then we're looking at 10-15 per cent price inflation over a 2/3 month period for those areas - and other people on here are saying basically the same things about other areas.

If it keeps going, and frankly its showing no sign of stopping, then will we be looking at over 20 per cent increases by the end of the year. For the last couple of years we've been something like 21 or 22 per cent off the Celtic Tiger peak and that peak seeks to be where we're heading at the moment.

Yes . You would hope it's just a covid bubble . Terrible supply . High demand . No viewings . Feeling of a forever lockdown resulting in anything will do .

Emma2019

What I don't understand is, if the supply issue is being caused by people holding off putting their houses up e.g. because they don't want people viewing, or they are on EWSS so can't drawdown a new mortgage what happens when those circumstances change and they are able to put them up?

Are they not going to be putting up a house and then taking a new one too? As in no net new supply?

I'd have thought anyone with a vacant house would have put them up anyway, particularly with prices the way they are.