Affordable home Saggart 2 bed apartment

chancer_007

was offered an AH in saggart(close to city west)I turned it down
auctionerring company was selling them on market for 340k(so their website says)
council offered me the apt for 210k
when i rang the council & asked them what the market value was they told me 300k.
so the aprtments have fallen 40k on the open market!

also,I found this unbelievable,the LUAS runs 2 within 3 metres of the estate.
and to get access to the estate u would have to cross the LUAS line to drive into the estate.
has the country gone crazy?

warrenaldo

I got an offer of a place in hunterswood. The snag is done now. They are getting me in to view the place. Make sure the snags all up to scratch.

Anyway. Im wondering - for anybody who has went through this. After this stage how much longer do you usually wait to sign?

I cant imagine a hold up.
But i was told less than a week by someone who works there.
And i was told 4-6 weeks by another person who works there.

Stephen P

warrenaldo wrote:

I got an offer of a place in hunterswood. The snag is done now. They are getting me in to view the place. Make sure the snags all up to scratch.

Anyway. Im wondering - for anybody who has went through this. After this stage how much longer do you usually wait to sign?

I cant imagine a hold up.
But i was told less than a week by someone who works there.
And i was told 4-6 weeks by another person who works there.

Hi
Glad to hear things are moving for you! After I checked my snag we were waiting about 8 days and then signed. There shouldn't be anymore hold ups.
Best of luck with it!!

warrenaldo

Cheers Stephen - just what i wanted to hear. ye its moving - slowly but its getting there. the council are so so slow with everything.

The_Conductor

chancer_007 wrote:

council offered me the apt for 210k
when i rang the council & asked them what the market value was they told me 300k.
so the aprtments have fallen 40k on the open market!

also,I found this unbelievable,the LUAS runs 2 within 3 metres of the estate.
and to get access to the estate u would have to cross the LUAS line to drive into the estate.
has the country gone crazy?

Yes- its entirely possible. Apartments are loosing their value a hell of a lot quicker than houses- and irrespective of the Luas on your doorstep, Sagart is still almost 15 miles from the city centre. Personally I think 300k for a 2 bed apartment, irrespective of a 40k fall, still has a long way to fall yet before it could be construed as a reasonable value. A 2-bed apartment in Sagart rents for 1250-1400 (have a look on Daft). Allowing for a ROI of 5% (rather low) the very highest that any sane investor should offer for one of these is about 230k. Historically an ROI of 5% would be considered low- so a reasonable price for a 2 bed apartment in Sagart, given current rental yields, would actually be below 230k.

Sure- its very convenient having the Luas on your doorstep- but do not expect it to wave a magic wand at property prices. There are a further 5 lines in planning (with one ready to go)- so its not going to be the distinguishing factor that it once was.

S.

stovelid

chancer_007 wrote:

also,I found this unbelievable,the LUAS runs 2 within 3 metres of the estate.
and to get access to the estate u would have to cross the LUAS line to drive into the estate.
has the country gone crazy?

There is no LUAS line in Saggart. There is a LUAS line planned for Citywest currently. Current estimated date 2010.

chancer_007

u will find stovelid that fortunestown lane is indeed in saggart!
the new luas runs parrallel to fortunestown lane(about 10 metres)
FYI
www.rpa.ie/luas it shows luas stops in Saggart

stovelid

I know. I live in Saggart village.

I meant that there is currently no LUAS in Saggart, Citywest or anywhere around there (only a planned line) and that prices may be different (possibly lower) in the area by the time that they eventually open it.