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Irish Property Market 2020 Part 2

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    #9302
    fliball123
    Registered Users Posts: 7,450 ✭✭✭fliball123


    Pelezico wrote: »
    It is looking good for a major downturn ok. When the pump stops pumping, I would not like to be holding newly acquired property bought at too dollar.

    That 30k booster wont last forever either as the economy tightens and taxes increase/spending decreases.

    Good news for my son. Thank goodness he was gazumped in February.

    haha its been looking good for that since February your son might be staying with you a lot longer than you think


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    #9303
    Cyrus
    Registered Users Posts: 20,055 ✭✭✭✭Cyrus


    Pelezico wrote: »
    It is looking good for a major downturn ok.

    if ever there was an oxymoron.


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    #9304
    Pelezico
    Registered Users Posts: 681 ✭✭✭Pelezico


    Cyrus wrote: »
    if ever there was an oxymoron.


    From.where you are sitting, it may be so, but from my poing of view downturn in property prices is good.

    I know some people just dont get that. But there you are.


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    #9305
    fliball123
    Registered Users Posts: 7,450 ✭✭✭fliball123


    Pelezico wrote: »
    From.where you are sitting, it may be so, but from my poing of view downturn in property prices is good.

    I know some people just dont get that. But there you are.

    Well we will all know when property has gone to its lowest now. When your son buys make sure you keep us posted when he does we can all buy then :)


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    #9306
    Pelezico
    Registered Users Posts: 681 ✭✭✭Pelezico


    fliball123 wrote: »
    Well we will all know when property has gone to its lowest now. When your son buys make sure you keep us posted when he does we can all buy then :) Also you say bloodbath what % drop is that so that we should be expecting?


    Did I use the word bloodbath? I hope not.


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    #9307
    fliball123
    Registered Users Posts: 7,450 ✭✭✭fliball123


    Pelezico wrote: »
    Did I use the word bloodbath? I hope not.

    whoops sorry it was Fridge who used it apologies


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    #9308
    Cyrus
    Registered Users Posts: 20,055 ✭✭✭✭Cyrus


      Pelezico wrote: »
      From.where you are sitting, it may be so, but from my poing of view downturn in property prices is good.

      I know some people just dont get that. But there you are.

      a huge decrease in property prices wont impact me, i have no desire to move and my mortgage equates to about 30% of the value of my house, so im alright jack as they say.

      But i wouldnt welcome the economic scenario that would result in this major downturn a few of you are looking forward to.


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      #9309
      AssetBacked2
      Closed Accounts Posts: 232 ✭✭AssetBacked2


      thefridge2006 wrote: »
      Down 2% in Dublin...….. and we haven't even seen the affects of Covid yet. 2% and the economy in on life support with money being pumped into to it....

      This will be a bloodbath when support get switched off.

      If support gets switched off. That's key to economic and property market stability.


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      #9310
      Sweet.Science
      Registered Users Posts: 2,905 ✭✭✭Sweet.Science


      The negative side of a slowdown is that sellers wont sell if they cant get the price they have in their head

      Its happening me at the moment.


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      #9311
      fliball123
      Registered Users Posts: 7,450 ✭✭✭fliball123


      AssetBacked2 wrote: »
      If support gets switched off. That's key to economic and property market stability.

      Well I believe they have already factored in another 15Billion for next year to keep going while companies are forced to close so it wont be next year. Pelezico will have to put up with his son for at least another 12 months


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      #9312
      ShlugMurphy
      Site Banned Posts: 32 ✭ShlugMurphy


      Sweet.Science wrote: »
      The negative side of a slowdown is that sellers wont sell if they cant get the price they have in their head

      Its happening me at the moment.

      That quickly changes to "I better sell why I can get a decent price".


    6. Options
      #9313
      fliball123
      Registered Users Posts: 7,450 ✭✭✭fliball123


      Sweet.Science wrote: »
      The negative side of a slowdown is that sellers wont sell if they cant get the price they have in their head

      Its happening me at the moment.

      Whos to say you or the seller is right in this scenario? Have you any more details where the property is , what type and how much??


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      #9314
      JimmyVik
      Registered Users Posts: 5,367 ✭✭✭JimmyVik


      fliball123 wrote: »
      Well I believe they have already factored in another 15Billion for next year to keep going while companies are forced to close so it wont be next year


      Im changing my prediction to 3 years for the downturn.
      I started in March at 6 months. Changed it to one year a few months ago. Changed it to 2 years, now im changing it to 3 years.
      I will be right. Mark my words :)


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      #9315
      fliball123
      Registered Users Posts: 7,450 ✭✭✭fliball123


      JimmyVik wrote: »
      Im changing my prediction to 3 years for the downturn.
      I started in March at 6 months. Changed it to one year a few months ago. Changed it to 2 years, now im changing it to 3 years.
      I will be right. Mark my words :)

      I am marking them as I type :)


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      #9316
      Sweet.Science
      Registered Users Posts: 2,905 ✭✭✭Sweet.Science


      ShlugMurphy wrote: »
      That quickly changes to "I better sell why I can get a decent price".

      Hopefully. As nobody else has been at the viewings since i made the offer. So its either sell to me or dont sell at all


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      #9317
      WhenPigsCry
      Closed Accounts Posts: 119 ✭✭WhenPigsCry


      thefridge2006 wrote: »
      Down 2% in Dublin...….. and we haven't even seen the affects of Covid yet. 2% and the economy in on life support with money being pumped into to it....

      This will be a bloodbath when support get switched off.

      We haven't seen the affects of the virus we've been living with since March, in a report that runs up to September.


    11. Options
      #9318
      fliball123
      Registered Users Posts: 7,450 ✭✭✭fliball123


      Sweet.Science wrote: »
      Hopefully. As nobody else has been at the viewings since i made the offer. So its either sell to me or dont sell at all

      Or leave it on the market and see if someone else wants it


    12. Options
      #9319
      Pelezico
      Registered Users Posts: 681 ✭✭✭Pelezico


      Cyrus wrote: »

        a huge decrease in property prices wont impact me, i have no desire to move and my mortgage equates to about 30% of the value of my house, so im alright jack as they say.

        But i wouldnt welcome the economic scenario that would result in this major downturn a few of you are looking forward to.


        If you want to occupy the high moral ground and it makes you feel good that is no problem.

        I dont want my children overpaying for a roof over their heads just so the market remains high.

        As for economic desolation, some industries are extremely robust and are thriving during covid.


      1. Options
        #9320
        Sweet.Science
        Registered Users Posts: 2,905 ✭✭✭Sweet.Science


        fliball123 wrote: »
        Whos to say you or the seller is right in this scenario? Have you any more details where the property is , what type and how much??

        D13. They want 370k. Im the only one who has shown an interest and said i would offer 355k.


      2. Options
        #9321
        Sweet.Science
        Registered Users Posts: 2,905 ✭✭✭Sweet.Science


        fliball123 wrote: »
        Or leave it on the market and see if someone else wants it

        True. However its been up a long time. They've even changed estate agents


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        #9322
        Cyrus
        Registered Users Posts: 20,055 ✭✭✭✭Cyrus


        Pelezico wrote: »
        If you want to occupy the high moral ground and it makes you feel good that is no problem.

        I dont want my children overpaying for a roof over their heads just so the market remains high.

        As for economic desolation, some industries are extremely robust and are thriving during covid.

        the difference between us is my concern is for the majority, yours is for your son.


      5. Options
        #9323
        fliball123
        Registered Users Posts: 7,450 ✭✭✭fliball123


        Sweet.Science wrote: »
        D13. They want 370k. Im the only one who has shown an interest and said i would offer 355k.

        ok how many beds, how big is it close to the DART station?


      6. Options
        #9324
        Cyrus
        Registered Users Posts: 20,055 ✭✭✭✭Cyrus


        Sweet.Science wrote: »
        D13. They want 370k. Im the only one who has shown an interest and said i would offer 355k.

        how does 370k stack up against similar sales, or are there similar properties?

        often EAs/Vendors are setting prices at what they see as a low level to garner interest and the price they want to sell at is above that, if thats the case you can see why an offer under asking isnt of interest.


      7. Options
        #9325
        Sweet.Science
        Registered Users Posts: 2,905 ✭✭✭Sweet.Science


        Cyrus wrote: »
        how does 370k stack up against similar sales, or are there similar properties?

        often EAs/Vendors are setting prices at what they see as a low level to garner interest and the price they want to sell at is above that, if thats the case you can see why an offer under asking isnt of interest.

        The house the other side of the road went sale agreed for 335k. No extension and not turnkey like this one but still.

        To answer the other question yes its close to the DART station and its a 3 bed.


      8. Options
        #9326
        Cyrus
        Registered Users Posts: 20,055 ✭✭✭✭Cyrus


        Sweet.Science wrote: »
        The house the other side of the road went sale agreed for 335k. No extension and not turnkey like this one but still.

        To answer the other question yes its close to the DART station .

        ok and how much do you think it would cost you to get this house extended and in the same condition, i would wager 35k wont even get you close.


      9. Options
        #9327
        Pelezico
        Registered Users Posts: 681 ✭✭✭Pelezico


        Sweet.Science wrote: »
        D13. They want 370k. Im the only one who has shown an interest and said i would offer 355k.

        Make your own mind up.if you are the only one bidding, ask yourself why that is.


      10. Options
        #9328
        fliball123
        Registered Users Posts: 7,450 ✭✭✭fliball123


        Sweet.Science wrote: »
        The house the other side of the road went sale agreed for 335k. No extension and not turnkey like this one but still.

        To answer the other question yes its close to the DART station .

        Well there are plenty (22 - 5 of which are less than 300k) of houses in D13 well under the 350k mark why dont you go for one of those for under 300k and you would have 55k to render it how you would like


      11. Options
        #9329
        Sweet.Science
        Registered Users Posts: 2,905 ✭✭✭Sweet.Science


        Cyrus wrote: »
        ok and how much do you think it would cost you to get this house extended and in the same condition, i would wager 35k wont even get you close.

        I wouldn't need to put an extension on the houses in the same area. They would be fine as they were.


      12. Options
        #9330
        Sweet.Science
        Registered Users Posts: 2,905 ✭✭✭Sweet.Science


        fliball123 wrote: »
        Well there are plenty (22 - 5 of which are less than 300k) of houses in D13 well under the 350k mark why dont you go for one of those for under 300k and you would have 55k to render it how you would like

        Thanks for the advice. I'm well aware i have that option. I'll wait for the right one to come up.


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      14. Options
        #9331
        Pelezico
        Registered Users Posts: 681 ✭✭✭Pelezico


        fliball123 wrote: »
        Well there are plenty (22 - 5 of which are less than 300k) of houses in D13 well under the 350k mark why dont you go for one of those for under 300k and you would have 55k to render it how you would like

        Maybe he should wait for six months and save 20k.


      This discussion has been closed.
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