How's the current market affecting you?

Senna

After a lot of horror stories and 'your mad to buy within the next 3 years' comments, i'm interested in seeing how the current market is effecting posters.
Are you trying to sell?
Are you thinking of buying?
Have you bought recently? Did it all work out?
Is anyone going to invest in the market?
Is anyone under pressure because there house has fallen in price.

I prefer not to debate the choice of buying, selling, investing here. There's enough threads along those lines.

Senna

I'll start it off.
I'm currently renting but moving back to my home place for a few months to save the rent. Me (and my partner) plan to buy this year, we've been looking for the last while and finally the house of our dreams is well within our budget.
I live in Donegal, for 300k i'll get a 4/5 bed detached with nice views in a peaceful location, 10-15 minutes from work and family. I'd be more than happy to live somewhere like this for the foreseeable future.
Just an example;
http://www.daft.ie/searchsale.daft?limit=10&type=sale&id=346461&from_mydaft=1

punchestown

Are you trying to sell? No
Are you thinking of buying? No
Have you bought recently? Did it all work out? Bought 6 years ago. Worked out very well
Is anyone going to invest in the market? Crazy to at this stage if you ask me. A huge glut of property out there, more to follow. Noone to buy it. Peoples eyes have been opened by this slump. It is a scandal that the government have allowed the market to reach the level it did without taking any form of action.
Is anyone under pressure because there house has fallen in price. Loads of friends got sucked in within the last 18 months. They will claim that things are ok at the moment because they have 2 incomes coming in and only 1 going out in mortgage payments but their homes have lost tens of thousand of euro in value with no obvious sign of recovery and the next few years promise to be tough.

Senna

punchestown wrote: »

Are you trying to sell? No
Are you thinking of buying? No
Have you bought recently? Did it all work out? Bought 6 years ago. Worked out very well
Is anyone going to invest in the market? Crazy to at this stage if you ask me. A huge glut of property out there, more to follow. Noone to buy it. Peoples eyes have been opened by this slump. It is a scandal that the government have allowed the market to reach the level it did without taking any form of action.
Is anyone under pressure because there house has fallen in price. Loads of friends got sucked in within the last 18 months. They will claim that things are ok at the moment because they have 2 incomes coming in and only 1 going out in mortgage payments but their homes have lost tens of thousand of euro in value with no obvious sign of recovery and the next few years promise to be tough.

Just looking for some personal stories, not 'i know a fella' type story.
I'd like this thread to be the personal side of the Bubble Bursting type threads. not comments on the market.
Thanks

orbital83

Are you trying to sell?
No

Are you thinking of buying?
Yes - but buying on a single income in Dublin, so I'm waiting for prices to reach a realistic level. I have a good deposit built up but somehow that makes you less willing to throw it all away in a falling market...
Currently stuck in limbo, living at home with a long commute, want to get out but not prepared to shoulder €1K+ per month in rent on my own for a 1 bed apartment (I've gone beyond the stage in my life where sharing appeals...)
If this crash is going to happen, I wish it would get a move on.

Have you bought recently? Did it all work out?
N/A

Is anyone going to invest in the market?
"Buying" would have to be carefully considered and "investing" would be madness.
However I do get the impression a lot of people are nieve (sp) - and fall for the estate agent speak very easily. Let's face it, anyone under 35 in this country hasn't experienced significant falls / stagnation in property prices at an age when they would have been aware of such things!
My parents lived in the UK through the 80s / early 90s and I can vaguely remember going looking at repossessed properties with everything stripped, down to the lampshades.

Personally I wouldn't buy in the current market unless I found a place I was prepared to stay in for 10+ years, reasonably priced in a "prime area" in terms of public transport and other facilities

Is anyone under pressure because there house has fallen in price.
Not that I know of personally but I'm sure there's plenty and as for the developers...

mikemac

Senna wrote: »

Are you trying to sell?
No
Are you thinking of buying?
No though I came damn close in April 06. Got sucked into the whole "must buy" scenario but didn't in the end. Phew!! The houses I was looking at have come steadily down. 30K plus!

Have you bought recently? Did it all work out?
No. Working in Dublin and saving hard. Renting somewhere small and looking to rent somewhere better in the next few months.
(my gaff is tiny!) Rent ain't cheap but daft is flooded with loads of places at the moment. Oh, and it takes me 4 minutes to get from my gaff to work...score!!
My manager is always asking why I never show up on time though

Is anyone going to invest in the market?
Well, I own a site on our farm down home. Have full planning permission and hope to start building in the next few months. This time next year I hope to be out of Dublin, been renting in college and in work for years now, it sucks!

Is anyone under pressure because there house has fallen in price.
Maybe my landlord but I don't care about them

astrofool

Are you trying to sell? No
Are you thinking of buying? Looking at the moment, have seen some properties that I like, and are good for the next 20 years, and affordable for me (weren't in the last couple of years), also have a good amount of equity available.
Is anyone going to invest in the market? People will always buy houses, not one for investors anymore however. A few places I've enquired about have been Sale Agreed, but the EA has left them as For Sale under instruction from the Vendor, and are taking names of those interested if/when the sale falls through.
Is anyone under pressure because there house has fallen in price. I'm sure lots of investors are, don't know any personally. The real losers are those with a sh*tty commute to work, and were planning to trade up, but now can't. I pity anyone who bought an apartment with the plan to move out in a couple of years.

johnnyskeleton

Senna wrote: »

Just looking for some personal stories, not 'i know a fella' type story.
I'd like this thread to be the personal side of the Bubble Bursting type threads. not comments on the market.
Thanks

This is an internet forum - how do you know what is a personal opinion and what is not? It follows that someone saying I know a fella is just as reliable as saying I am that fella.

sadie9

After a lot of horror stories and 'your mad to buy within the next 3 years' comments, i'm interested in seeing how the current market is effecting posters.
Are you trying to sell?
Currently helping to sell a relative's house, but have no financial stake in it.
Are you thinking of buying?
Yes, in the market for a family home, sold our first house in 2005. Moved out of Dublin as houses were too dear and quality of life disastrous. Renting since then. So am a cash buyer currently renting while waiting for dream house to come along, or prices to fall further to make dream house affordable. Will not buy for another year unless dream house appears within our budget. Watch the market avidly.
Have you bought recently? Did it all work out?
Nearly bought but delays in sale made us rethink that we were being hasty in buying what was not our dream home in a falling market, and all the signs are that waiting in this market will be to our benefit. My advice for any current house-hunter - Patience. Bide your time.
Is anyone going to invest in the market?
Is anyone under pressure because there house has fallen in price.

Senna

johnnyskeleton wrote: »

This is an internet forum - how do you know what is a personal opinion and what is not? It follows that someone saying I know a fella is just as reliable as saying I am that fella.

Personal stories. i.e. your own story. There are so many threads saying other people must be in negative equity, or other people are 'stuck', or mortgaged to the eye balls and realizing they made a mistake in buying, etc.
There's not many threads with people giving there own stories.

i'm sure i worded the original post wrong, but every bodies got the idea:D