Tips on Selling house in Galway

galwaydude

We have a 3 bedroom semi-detached house in Galway and that we have for sale, 10 minutes drive from Galway city. We originally had it listed at 350 at last years prices but have since gone down to 315k in the last month. Is the market really that bad or are we just asking for too much? We need to sell for financial reasons. Are there any tips on getting a quick sale? or do we just ride the wave of the housing market going downhill fast.

finlma

What part of Galway is the house in? The same houses are on the market for the last few months and people aren't prepared to buy at current prices with further drops anticipated and the houses in Galway just not being worth what is being looked for. If you really want a quick sale you need to advertise the house at the minimum price you'll accept and hope that you get 2 people interested to raise the price a bit. You definitely need to undercut the opposition to attract the very small number of potential buyers that are out there.

bobk

market is a bit funny at the moment.
seems to be a bit of a stand off between buyers and sellers.

keep the faith as I imagine it will pick up again soon and think about changing estate agents if your current one isn't proving to be successful.

Good Luck

Bob

gurramok

bobk wrote: »

keep the faith as I imagine it will pick up again soon and think about changing estate agents if your current one isn't proving to be successful.

Picking up based on what?..Advice like this wrecks the sellers head and is misleading.

To the OP, what it comes down to the end of the day on anything a person tries to sell is price. Is it worth to a buyer to buy at a specific price?

Do-more

How many viewings have you had?

I know this will sound like one of those property porn shows on TV but you really have to present your house in tip-top condition, fill any cracks, repaint anywhere grubby such as the hall, stairs and landing. De-clutter the place by putting excess up into the attic.

The few buyers that are about have the choice of lots of similar houses to your own, you really need to make your place stand out as the one they would like to live in above all the others. Then you then need to price your place at the bottom of the price range. Very little is selling at the moment.

In my own area a number of developers have dropped prices significantly and are making a few sales, but not many. What beats me is that sellers of second hand homes (very often in worse locations) have there houses priced above that of new homes! OK so they might expect to haggle a bit on the price, but it's hardly a recipe for having a throng of potential buyers beating a path to your door, is it?


I'll also second gurramok's opinion, there is absolutely nothing on the horizon which is likely to cause a significant pick up in the market. Latest GNP figures suggest we are already in recession in Ireland, although we won't know for sure until the next quarters results are published. On top of that the bank's are now only approving mortgages to the lostest risk customers.

It's human nature that those with a vested interest in the market will try to convince themselves (and you) that everything is going to be fine if you wait 3 or 6 months or whatever.

GerardKeating

galwaydude wrote: »

We have a 3 bedroom semi-detached house in Galway and that we have for sale, 10 minutes drive from Galway city. We originally had it listed at 350 at last years prices but have since gone down to 315k in the last month. Is the market really that bad or are we just asking for too much? We need to sell for financial reasons. Are there any tips on getting a quick sale? or do we just ride the wave of the housing market going downhill fast.

Market is a bit funny just now, John Quinn list a few houses in Gleann Dara, two for about 295K and one for 250K and they are all the same house.

The_Conductor

Do-more wrote:

It's human nature that those with a vested interest in the market will try to convince themselves (and you) that everything is going to be fine if you wait 3 or 6 months or whatever.

Unfortunately I'd have to agree with Do-more.
From the latest Eurostat figures, and comments from the ECB, it looks increasingly likely that Eurozone interest rates may actually rise imminently, and not fall, as many Irish economists have been suggesting. Latest employment figures here are looking really ugly and the government finances are up the creek. There is no indication at this stage that there is any improvement on the immediate horizon. If you hold off for 3 or 4 years, things may be better, but I wouldn't classify this as imminent, and then again, perhaps things may be worse........