3-Bed Semi Deepforde

Dub in Louth

:mad:Hi all,

I heard a startling rumour today that Murphy Developments are releasing a new phase of 3-Bed Semi's in Deepforde for 327,000 euros. Seemingly there was an ad in the North County Leader about this.

Has anyone else heard about this, as i paid 400k last year for a house in this estate. All info is welcome.

Thank You.

Mr Magnolia

Wouldn't surprise me to see such a reduction. House value around Dundalk has gone down >15% and they're not even selling at that.

Negative equity isn't nice but if you bought your house for the long haul then try and put it past you and get on with it, you weren't to know about the slow-down. Builders/developers are being forced to sell their properties to pay off investers/societies. You may get some info in Consumer Issues too.

I know of 1 largish developer that has gone to the wall already, little consolation to ou I know..

what_car

Dub in Louth wrote: »

:mad:Hi all,

I heard a startling rumour today that Murphy Developments are releasing a new phase of 3-Bed Semi's in Deepforde for 327,000 euros. Seemingly there was an ad in the North County Leader about this.

Has anyone else heard about this, as i paid 400k last year for a house in this estate. All info is welcome.

Thank You.

yeah somewhere around that price, they have the sign up and all.. anyone who bought a 3 bed semi there for €400k needs their head examined...why u may ask.. well at the same time those houses were being sold, there were some 4 bed really nice houses for sale in Roschoill, 1 or 2.. and they dont come up for sale anyways that often...

when the 3bed semi were launched in deepforde, i went up for a look, i was shocked, the small box room, was a cupboard at best, very small bathroom, and cheap panel fencing..and metal fence at front..


there was one there second hand for sale at €400k... exactly the same price it was originally sold for.. no increase in value at all.......

people who bought in the last couple of years are facing drops in value of €70,000 .. thats mad,
€70,000 of dead money........

andrew1977

Wouldnt surprise me of that price drop alright, i drive by it and the estate doesnt even seem to be quarter taken up by residents.I could be wrong, but to me the place looks empty

Some spaghetti junctions delovoping on the roads out there and the crossroads for Grange Rath

gipi

Advert in the Drogheda Weekender this week (delivered today) - "new type" 3 bed semis in Deepforde launching on 20th October, prices from 329,000.

Doesn't specify what the new type is though.

delly

Thats a pretty shocking reduction tbh, regardless of what the 'new type' is.

Cantab.

Ah I wouldn't worry about it - in the long term your house will level out. If you've a 30 or 35 year mortgage, your house's price will balance itself out eventually. If you were an investor, you'd be in a spot of bother, but if you're not, then you should just stop worrying about the price of housing and just get on with your life.

sinead.s

i also bought a 3 bed semi for 400,000 in Deepforde but in the last few months they have been selling them for 370,000........
The new type 3 bed semi is much smaller.. all the rooms are quite small.
The kitchen extension is only half the size of ours.
Basically we just have to accept that house prices have fallen and we were just very unlucky it happened when it did as we have now lost 30,000 off the value of our houses...

drumm23

Cantab - that's fine except that most people bought hoping to trade up, often within a few years. This is supposed to be a "ladder" isn't it? Reality is it's Snakes & Ladders.

jo22

i am in the process of buying one of the four bed dormer bungalows in deep forde quoting 530,000 euro plus stamp duty

anyone out there buying one and for how much?

bottomdog

Yep these have houses have dropped from #400,000 to €329,000. partly offset by a small drop in square footage as well (100 sq ft ). Excellent location and a good builder and a drop in price makes it appealing now at the new price. The only difference between the styles from last year and now is the 100Sq Ft extended kitchen. House prices in Drogheda have dropped by 10% anyway. Either these were somewhat overpriced last year and perhaps now its more realistic.

Dub in Louth

I have had a quick look in the Window of the new Type 3-Bed semi. and the rooms do seem a bit smaller.
If i was given the option this time last year, i would have taken the smaller rooms for a price drop of 71 grand.
On the other hand the attic is bigger which could be a bonus come resale value.
I think it is a case that Murphy could not sell the 3 beds so they decided to re-evaluate.

sinead.s

Ok I take it all back........ Ive just been to see the new type 3 bed show house today and i have to say they are hardly any smaller than the one i bought for 400,000...
fair enough downstairs is a bit squashed but if they were on sale last year i would have snapped one up for 71,000 less
i dont know how such a big drop in prices can be justified for 100sqm less..
especially as when we were buying our house last November we were assured they were the last 3 bed semis that they were building in the estate.
It just seemed we've all been taken for fools !!!!!!!

is_that_so

I recall Deepforde being built and with the greatest respect to anyone who bought there, "greedy bastards" was the only expression that came to my mind on seeing the initial prices. Now if it was actually in the town it might have been justified.
It is no surprise at all to see those prices considering the average price for 3 beds in Drogheda seems to be around the €330K mark.

delly

At the time of the €400,000 release you could get a 4 bed semi in Grange Rath or Roscoill, but since Deepforde was so hyped they chanced there arm with the €400k price tag on trying to be an exclusive development and found enough people to pay it.

Dub in Louth

Hi all,

I had a look at the new show house yesterday, so i am not just second guessing anymore!!

I have to say that it has just incenced me even more. Ok, downstairs is a little bit smaller, but that is just because they do not have an extension.
Upstairs is in fact bigger than the old style three beds. There is Three Double rooms and a bigger bathroom.

How they can get away with this, when we were told that there would only be one three bed type built, is beyond me.

Does anybody think that there is anything that can be done. Maybe if we were all to get together and go to the Builders? Or do we not have a leg to stand on.

Zorba

Sorry but i don't know how anyone bought a house in deepforge, i'm no expert builder or anything but even i could see the show houses were just thrown up and if the show houses are like that what's the rest of them like ? Things like windows having to be banged shut, walls not straight and cracking badly, window sills not level, not even the shelves in the hot press were level !! I Could go on but for the money they were looking for at the time 400 for a 3 bed semi, never mind the detached ones i expected the quality to be a lot better.

Deflector

Firstly, why anybody would buy a house last year is absolutely beyond me in what was patently a peaking market by all the indicators, and by every analyst screaming from the rooftops. Secondly why anybody would buy such poor properties in any market, yet alone one on the tipping point of a slide is even more baffling.

The mind boggles.

what_car

Dub in Louth wrote: »

Hi all,

I had a look at the new show house yesterday, so i am not just second guessing anymore!!

I have to say that it has just incenced me even more. Ok, downstairs is a little bit smaller, but that is just because they do not have an extension.
Upstairs is in fact bigger than the old style three beds. There is Three Double rooms and a bigger bathroom.

How they can get away with this, when we were told that there would only be one three bed type built, is beyond me.

Does anybody think that there is anything that can be done. Maybe if we were all to get together and go to the Builders? Or do we not have a leg to stand on.

nothing you can do....you contracted yourself into it. you paid the ultimate price. unfortunately, these houses will be hit the hardest in the slide, as you paid at max peak price €400k. you can do nothing...

one confirmation of this, there was a 3 bed in deepforde for sale recently at 400k, second hand, fully kitted out , zero capital appreciation......zilch......

at the time these were being sold you could have bought a 4 bed semi in roschoill for €375k second hand, with stamp duty it left the total cost of the 4 bed roschoill at €400k..

i saw the 3 bed in deepforde when they launched, and i was gobsmacked...
it was tiny, the bathroom was smaller than a bathroom in a 3 bed townhouse in sienna.. the box room was tiny too with the sienna box room being bigger..

i noted that developer when selling in five oaks, i was looking at a new house, and the builder was not providing built in wardrobes...... i thought at the time that you couldnt get scabbier than that, also in five oaks no front garden walls, just a poxy plank of a fence... i didnt buy in the end..

around march '05 the 4 bed semis were selling in roschoill for €297,500..

when did you sign your contract for deepforde?

unfortunately the commuting people, who bought in commuter towns are now going to get screwed, by higher petrol prices, further adding to the costs ,
also if they are in the unfortunate position of trying to sell their home, they will have to make a good cut in selling price in order to try and sell...

what amazes me is that people actually voted for bertie and all, with their recent pay rises, total waste of tax payers money, no proper infrastructure,
and real hard times ahead...petrol rises, food prices going up.. and possible tax rises in the budget , doesnt bode well.....

sorry if i appear to be a bit down beat, but thats the way i see it..

it wont affect you really, if you plan to live there a good while.. btw i heard that the new houses are a bit slow to sell...


has there been any mention of management fees for deepforde?

positron

Apologies for digging up an old thread, but yeah there were much better houses across the road and other estates in Dublin road that time for less money. Three bed semis in Wheaton Hall would have been around 330 then, and they are a lot bigger than the Deepforde 3 beds, with larger gardens, larger greens etc.

Well, you should be okay if you are in for a long run, you are still in a good area, and M1, airport, dart extension etc and the new shopping center in Grange Rath is hopefully some consolation.