A 'whats it worth' question

englishe

http://www.dng.ie/search_detailed_result.cfm?ID=1006950

Hi everyone - always read with interest your opinions on what houses can realistically expect to be bought for etc... I would be really grateful if anyone could give an opinion on the attached 3 bed terrace in Terenure Village - It's come down 100K in the last year - could it go down much further?!!

ntlbell

englishe wrote: »

It's come down 100K in the last year - could it go down much further?!!

Yes it could.

Gurgle

englishe wrote: »

always read with interest your opinions on what houses can realistically expect to be bought for

And you saw something to suggest these opinions are useful?

Black Swan

"When?" (to buy is the ultimate question) The credit card bubble has yet to burst in the United States, and when it does, it will adversely impact the credit markets, which are interrelated with everything else financial, both for them, us, and the rest of the world.

Vast numbers of people in the States are abusing the float between credit cards, using credit card checks to pay off other credit card bills, building up their debt in terms of fees and increasing loan rates. Many have backed themselves into a corner with high debt and interest payments exceeding 20%, and have gotten so deep in debt that they are unable to pay off the principle, and continue to add to it with increasing interest payments over time. At some point many will default on their credit card loans, and when a sufficient number do, POW! The credit card bubble will burst and send a shock wave about the world, with banks having extended too much credit to their card debtors. When that happens, other things of value may fall, because everyone will feel the pinch, and not have the money to invest, including in real estate.

So do you buy now, or wait and see if my theory is valid? (OK, be advised that I am just a dizzy dame having drank way too much coffee this morning and may be completely off her head, ha!)

ntlbell

Blue_Lagoon wrote: »

"When?" (to buy is the ultimate question) The credit card bubble has yet to burst in the United States, and when it does, it will adversely impact the credit markets, which are interrelated with everything else financial, both for them, us, and the rest of the world.

Vast numbers of people in the States are abusing the float between credit cards, using credit card checks to pay off other credit card bills, building up their debt in terms of fees and increasing loan rates. Many have backed themselves into a corner with high debt and interest payments exceeding 20%, and have gotten so deep in debt that they are unable to pay off the principle, and continue to add to it with increasing interest payments over time. At some point many will default on their credit card loans, and when a sufficient number do, POW! The credit card bubble will burst and send a shock wave about the world, with banks having extended too much credit to their card debtors. When that happens, other things of value may fall, because everyone will feel the pinch, and not have the money to invest, including in real estate.

So do you buy now, or wait and see if my theory is valid? (OK, be advised that I am just a dizzy dame having drank way too much coffee this morning and may be completely off her head, ha!)

I agree completely we haven't really felt much of the affect of the credit card blow out and when it does come the poo will really hit the fan and we should get a much better idea of how bad things will actually get

i think we have the highest credit card debt in EU

johndaman66

Looking at the specific house you have linked to I think there is no way in the world it was ever worth half a million (if you say it has dropped 100k in the last year)....thats just ludacrious. Some people may say location, location, location but I don't care where it is...no three bedroom mid terrace house in Dublin could have being worth this at any stage. Even the 395k seems like extortion to me. The only way it could be worth either of these figures is if house prices were going to rise indefinately and we were at some stage going to turn into some sort of super economy dwarfing the US. But hey we all know now that was an unrealistic proposition.

I think you may have to ask yourself too do you intend to live in the house longterm if you are going to buy it at this silly figure (or anywhere near it), longterm probably being at least 10 or 15 years and if not defiantley don't buy. I personaly wouldn't like to see myself living in a mid terrace house long term and my expectations wouldn't be particularly high. At least with a semi detatched you kind of have a space you can call your on...well to a certain extent.

englishe

johndaman66 wrote: »

Looking at the specific house you have linked to I think there is no way in the world it was ever worth half a million (if you say it has dropped 100k in the last year)....thats just ludacrious. Some people may say location, location, location but I don't care where it is...no three bedroom mid terrace house in Dublin could have being worth this at any stage. Even the 395k seems like extortion to me. The only way it could be worth either of these figures is if house prices were going to rise indefinately and we were at some stage going to turn into some sort of super economy dwarfing the US. But hey we all know now that was an unrealistic proposition.

I think you may have to ask yourself too do you intend to live in the house longterm if you are going to buy it at this silly figure (or anywhere near it), longterm probably being at least 10 or 15 years and if not defiantley don't buy. I personaly wouldn't like to see myself living in a mid terrace house long term and my expectations wouldn't be particularly high. At least with a semi detatched you kind of have a space you can call your on...well to a certain extent.

Thanks for your advice - I'm from that area originally and got a bit excited there was something almost affordable for sale there! I agree with you about the worth of a 3 med mid-terrace, I will admit Im of the Location-Price-Size persuasion.. I would be thinking long-term 10 years+ (and it would be my 1st house)... Was just interested to see peoples opinions on it... Many thanks, much appreciated...

Freddie59

englishe wrote: »

Thanks for your advice - I'm from that area originally and got a bit excited there was something almost affordable for sale there! I agree with you about the worth of a 3 med mid-terrace, I will admit Im of the Location-Price-Size persuasion.. I would be thinking long-term 10 years+ (and it would be my 1st house)... Was just interested to see peoples opinions on it... Many thanks, much appreciated...

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