National Property Auction

Himselfe

http://www.realestatealliance.ie/national-property-auction/

Anyone heading to this? Can't make it myself, but it would be interesting to know what sort of prices they make, or even if they sell.

Anyone know if its possible to find out what they were sold for afterwards? Is it published anywhere?

Had a look at the listings myself and I reckon a lot of them are asking too much for the AMV.

Zamboni

God no.

Everything is very overpriced.

Its not called a 'real estate alliance' for nothing!

Alliance against common sense more like.

TommyT

I am going and will post prices tomorrow evening.

danbohan

TommyT wrote: »

I am going and will post prices tomorrow evening.

http://www.propertyweek.ie/index.php?display=findoutmore

DEAL: McAllister's Hotel Ballinamore, Co Leitrim sold at auction

In Ballinamore, Co Leitrim, McAllister's Hotel sold at auction to a local business group for €255,000 -- almost half the €500,000 AMV.Paul Lafferty of James Cleary and Associates .

25 bedroom hotel , even for leitrim this has to be value

testicle

danbohan wrote: »

http://www.propertyweek.ie/index.php?display=findoutmore

DEAL: McAllister's Hotel Ballinamore, Co Leitrim sold at auction

In Ballinamore, Co Leitrim, McAllister's Hotel sold at auction to a local business group for €255,000 -- almost half the €500,000 AMV.Paul Lafferty of James Cleary and Associates .

25 bedroom hotel , even for leitrim this has to be value

Why? Who goes on holidays to Ballinamore?

beeno67

testicle wrote: »

Why? Who goes on holidays to Ballinamore?

Usually people who want to go fishing. Tourists would be mainly English men with a fair sprinkling of Dutch and Germans

MaceFace

Hilarious - it appears out of the first 21 properties, only one managed a sale:
http://www.eigroup.co.uk/onlineauctions/login.asp?auctionid=14352

Himselfe

on number 35 now - so far 3 sold, 2 below asking price and one for guide price, watching it online

Himselfe

Auction results attached

ArraMusha

Himselfe wrote: »

Auction results attached

Thanks 'Himselfe' for posting the list..:)


Column C is a joke.....i.e. the asking price...sure no wonder they didnt sell........."sin e an bhfaibh"..that the problem.

Himselfe

ArraMusha wrote: »

Thanks 'Himselfe' for posting the list..:)


Column C is a joke.....i.e. the asking price...sure no wonder they didnt sell........."sin e an bhfaibh"..that the problem.

Yeah, prices were waaaay too high. Surely this has to be some sort of a wake up call for many in the industry, you can be sure they were all watching!! Funny thing is that many of the properties that didn't sell had bids of in and around what I thought they may actually be worth.

Glad to see that buyers aren't willing to buy into the bollox any more. All we need is the sellers to cop on now and we'll be grand.

TommyT

Himselfe wrote: »

Auction results attached

Thanks for posting that, saved me typing it up.

Will any of our local estate agents realise that the market is dead and advise their clents accordingly?

TommyT

Lot No. 29 sold @ €240k

Dymo

Bit of a kick in the Shelbourne ass those auctions results. I'd say it's a mixture of a couple of things, Money is hard to come by from banks, Not at the bottom of the market yet, feck all buyers out there and the prices are still too optimistic and not realistic. The house in Kilkenny that sold for €500,000 was originally on the market for €945,000. That house was a case of someone spending €10,000 on a new kitchen and adding €100,000 to the value of their house.

In 5 years time I still can't see any improvement in the property market there's just too many properties out there. If your buying I'm sure with little skill you can get a bargain and by bargain I mean buying something at a price that's a lot less than if you had to build it.

TommyT

from http://www.realestatealliance.ie/national-property-auction/
Typical EA nonsense, they are trying to put a positive spin on it.

National Property Auction 30 April 2010
Real Estate Alliance held the first ever giant property auction in Ireland today at Dublin's Shelbourne Hotel. The auction was deemed a success with 27% of the 61 lots selling amounting to 16 properties raising €3.9 million.

In summary, a total of 16 lots were sold on the day, with further lots potentially being sold post auction in the coming days.

Auction summary:

10 properties were withdrawn.
5 properties were sold prior to auction amounting to €1 million.
6 properties were sold under the hammer amounting to €1.9 million.
5 were sold after the auction today (by private treaty)
Total amount raised €3.0 million.
Total properties sold 16.
In total 27% of the six one lots sold at auction.

Victor

TommyT wrote: »

... 16 properties raising €3.9 million. ... Total amount raised €3.0 million. Total properties sold 16. ...

TommyT

Real Estate Alliance, the national property group, who held the first National Property Auction in April 2010, has announced that they are deferring their next National Property Auction until Spring 2011. In a statement, the group point out that "the current economic climate is not conducive for such an auction".
The Real Estate Alliance group have extensive knowledge of the market and have concluded that "the time is not right due to a myriad of reasons from the upcoming budget to availability of suitability properties.