Need to sell my Kildare house - help!

calgary bound · 02-11-2022 10:02pm #1

As the title suggests, my 3 bed semi is on the market in Kildare and we need it to sell reasonably quick to tie in with a new build we are buying in the new year. It's on the market almost 2 weeks but with not a single viewing or phone call to the EA.

It's in great condition (if I say so myself), brand new kitchen, floors, doors and windows, BER B rating.

Am I being totally unrealistic expecting interest by now? It's been a few years since we sold a house but we have done so a few times and always had interest within the first week or so, albeit in different times I know to this.

highgiant1985 · 02-11-2022 10:56pm

https://www.boards.ie/discussion/2058270153/need-to-sell-my-kildare-house-help

If its not getting any interest try setting a lower asking price.

3DataModem · 02-11-2022 11:10pm

"brand new kitchen, floors, doors and windows, BER B rating"

Very few people value these things as much as they used to, apart from the BER rating.

The market is cooling off. Lots of people are about to find out what "chasing the market down" is ... if you need to sell, then price it to sell.

walterking · 02-11-2022 11:28pm

Market is softening and people are wary and its the wrong time of the year.

Estate agents don't want to say how slow it has got - but it is VERY slow and even with the best will in the world it will be 3-4 months before you finalise a deal after sale agreed.

Also, as its not a new house, its not valid for the tax rebate, so you need to be about 25k below what an equivalent new house would be.

The good news is that developers also know its slow and they will be easy enough on a closing date of the new house. But the reality is you should have been trying to sell your house when you decided to buy the new one.

is the number of the house a number that is 2 number sequence? eg one of these? 12 23 34 45 56 67 78 89

If it the one I see, (priced well) I think its the wrong agent as they tend to be better at the higher end / country house sales whereas someone like Maura Donohue is better at the mid market. But if it is this house, then I think its just market dynamics and also there's a huge choice in that part of Kildare, especially new builds

calgary bound · 03-11-2022 12:09am

It's not a number in that sequence. It's a local estate agent - based in the same town who has handled lots of sales in our estate.

Unfortunately we couldn't go to market until now due to another party related to our purchase - all sorted now though.

The house is priced €60k less than new build 3 bed semis in the same town so we (estate agent and us) thought that should be a good enough gap.

Appreciate any further advice 😁 thanks.

The Spider · 03-11-2022 1:34am

Time of year biggest culprit I reckon, however the interest rate hikes will definitely play into it, although WFH may have made commuter areas to Dublin less attractive.

I’m seeing it from both sides, I live in a really popular commuter spot on the coast, however I’ve noticed that it’s taking longer for houses to go sale agreed in this neck of the woods, and they used to fly out.

I also spend a lot of time in a popular town in the south east, and any house that goes up for sale there is gone in days, also annecdotedly I know a lot of people who’ve sold up in Dublin and have moved down that direction, people from the area and a lot of Dubs as well, like I say WFH has moved the goal posts in terms of what was desirable.

sandyxxx · 03-11-2022 5:18am

put our rental on the market early august, c1 rated,built '06....little or no interest,very few viewings and then boom!,offer 15k below asking at end if september,met offer half way and currently slogging through the sales process,buyers in a rush to buy but its still a waiting gsme!....finding a lot more similiar properties have gone up for sale in the area since.....(east coast commuter town!)

calgary bound · 03-11-2022 1:04pm

Thanks for all your input, interesting to read other peoples experiences. Lets just hope this show gets on the road soon or I will have to pull the plug on it all :(

walterking · 03-11-2022 5:31pm

I thinks its simply a time of year thing combined with a little fear in the market. Many people remember the crash of 2008-2012 but they forget that it was a very deep recession, with massive over extension by many people and massive job losses.

But the fear factor is there at the moment. It will pass.

If you are buying in a new development, there will be leeway

calgary bound · 03-11-2022 5:37pm

https://www.boards.ie/discussion/comment/119829367#Comment_119829367

I think you are spot on, the "fear factor" is probably a huge element. I was just hoping to go sale agreed by end of November but that looks like it was way too ambitious!

I appreciate your input :)

TheWonderLlama · 03-11-2022 5:42pm

interest rates have just doubled with another rise likely on the way.

People are wary of getting caught in a rising rate/negative equity trap.

calgary bound · 03-11-2022 9:20pm

Totally get this but a mortgage on my type of house would be significantly less than rent in the area (1700 vs 1100 ish) so I was hoping there would still be some demand. The new houses in the area are selling well.

fliball123 · 04-11-2022 11:43am

https://www.boards.ie/discussion/comment/119830304#Comment_119830304

I think you may have missed the boat. There may be an increase in activity in the new year when the new borrowing limits kick in but all indicators are that we are in for a long recession in 2023( for about 24 months) and with interest rates going as high as 4 and maybe above (could go above 5%) next year you may have to re price to a lower amount to sell. Keep the posts coming you are an interesting case study with regards to property prices.

eusap · 04-11-2022 11:53am

the 60k is probably not a big enough gap between new build and Old house, with running costs ..... people might prefer to invest the 60k now and have lower running costs for life. Plus also a lot of people are sitting on the fence now, with a wait and see approach.

Also don't rule out a useless estate agent, ask a friend to call and enquire about the house and see how eager the EA is

DownByTheGarden · 04-11-2022 12:06pm

Same thing happened last year this time of year. Picked back up again in Feb

HBC08 · 04-11-2022 12:08pm

I'd agree with above post.

I'd drop the price by maybe 20k and guarantee the sale. There may be a small rally in the market in the new year and you could gamble on that but house prices are going to fall next year.

If I was you I'd be taking the smaller hit and get ahead of the curve a bit.

HBC08 · 04-11-2022 9:12pm

https://www.boards.ie/discussion/comment/119832124#Comment_119832124

Very different to last year.

A bigger recession than expected on the way,mortgage rates going up,cost of living crisis,years of unrest and uncertainty in Ukraine and it direct and indirect impact,double digit inflation.

The Spider · 05-11-2022 9:33am

I want to disagree with this, but I can’t, all indicators are looking like people are not going to have much cash next year, just look at what happened to Twitter.

Wildly Boaring · 05-11-2022 9:52am

Ignoring the doom and gloom for a minute.

Is the ad good with high quality photos? Get someone who'll be straight with you to review.

Is the estate agent any use? Get someone to ring and arrange a viewing, be a bit awkward.

If it's priced right research again. Comparable ads, ignore new build prices, property price register.

DownByTheGarden · 08-11-2022 11:24am

https://www.boards.ie/discussion/comment/119834484#Comment_119834484

I dont know where the market is going to go. My crystal ball is broken. Im just pointing out that every year the housing market dies coming up to Christmas and every year people assume that this is not seasonal.

As far as the OP is concerned, recession or boom, this is a yearly pattern. In any year there would be little or no interest in their house at this time of year.

DownByTheGarden · 08-11-2022 11:34am

https://www.boards.ie/discussion/comment/119835904#Comment_119835904

Not even that. I think people who are well off are going to pull up the oars now and stop spending, just in case. I can see it already among my peers. People are getting ready for a recession now, whether they believe it will be bad or not. They are looking after their money now and keeping it instead of spending it. I expect after Christmas this will only increase.

Kurooi · 08-11-2022 11:55am

Get a second EA to value it cast an opinion, maybe change the agent.

mariaalice · 08-11-2022 1:51pm

People are underestimating how big a draw an A-rated house is if there are new A-rated houses nearby there would have to be a very substantial difference in price to make the second-hand house worth buying, let alone things like help to buy making a new build more attractive.

The Spider · 08-11-2022 6:14pm

Reasons to buy a second hand house:

it’s in a unique location that the only way to get is to buy second hand, ie house close to town with sea views.
Its in an established area, so you know more or less that it’s toerag free and safe to bring up kids, oh and good neighbours.
it’s on a sizeable piece of land that you’d never get planning permission for just one house now.
Location close to town in a good area that you’ll never get with a new build

they’d be my reasons for buying second hand anyway

The_Conductor · 08-11-2022 9:37pm

https://www.boards.ie/discussion/2058270153/need-to-sell-my-kildare-house-help

Unfortunately- as others have pointed out, the fact that you have a brand new kitchen, floors, doors and windows- simply doesn't differentiate your property sufficiently for most people. Add into the equation that its a second hand property- and I'd have to question whether you have left a sufficient margin between your property and the price of new property in the area.

Times they are a-changing- and interest rates are punishing would-be purchasers now.

If you seriously want to sell- you are going to have to price to sell, and I seriously do not think that you are in the right mindset to try and sell- when you're pointing out that you've just spent money on new doors, windows, floors, kitchen etc- these are sunk costs and while they're nice- they did not add value to your property, regardless of what you think.

Price to sell, and it will sell- however, it would seem that you have not hit that sweet spot. I'd be getting a move on though- next year could be a blood bath.

calgary bound · 08-11-2022 10:01pm

Thanks all for your input. The house is 60k less than the new build comparable houses in the town so even considering the help to buy is 30k, the remaining 30k is a decent difference as the new build houses in the town need a bit of finishing and that is costly.

I wouldn't say @The_Conductor that I'm not in the mindset to sell. I was merely pointing out that the house has a lot of extras and recent work done to it and is a BER B rated so essentially you would imagine it would be of interest to someone in the market for a 3 bed semi. The asking price is the same as a comparable house in the same estate in poor condition with a C3 rating so I'm not looking to price it higher to get that money spent back. I've enjoyed living in the extra comforts of the house since the work was completed but I need to move on for family resons.

beachhead · 08-11-2022 10:01pm

https://www.boards.ie/discussion/2058270153/need-to-sell-my-kildare-house-help

Not a great time of the year to be selling,include November to January.No one wants the hassle so close to Christmas.The current situation with interest rates and threatening redundancies around everywhere not helping the housing market. 2023 won't improve

Need to sell my Kildare house - help!

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