Dilapidated chalet tops asking price in positive sign for market

jetski

By Eimear Ni Bhraonain

Friday August 27 2010


A RUN-down holiday chalet in need of complete renovation sold within weeks of coming on the market for just over its asking price of €165,000.
The property in Curracloe, Co Wexford, is located just yards from a beach and is the latest "positive sign" of an upturn.
It's one of three dilapidated chalets that all sold for a combined price of €500,000.
None of the homes have sea views but all are located a short walk from the beach.
Remarkably, in the nearby beach resort of Courtown, a large three-bedroom detached bungalow with sea views and in turn-key condition is on the market for the same price as one of these chalets at €165,000.
This house is a half-hour closer to Dublin -- at just 106km away -- a journey that typically takes one hour and 30 minutes.
Auctioneer John Radford of Sherry Fitzgerald admitted the Curracloe chalets were a "total renovation job".
However, it did not deter the three buyers from Wexford, Meath and Dublin.
Holiday
The properties, which come on a half-acre site, will be used as holiday homes -- some with a view to becoming permanent homes in the future.
"They are just four concrete walls and a flat roof but all the chalets are within 300 or 400 metres from the beach. There are no sea views but the proximity to the beach is what makes it," said Mr Radford.
The auctioneer said the houses were only on the market for four to six weeks. "If I had more of them, I'd sell them," he added.
Mr Radford has seen a shift in sales in the past 10 weeks.
"Since May there have been positive signs. People are seeing the affordability out there," he said. "There's realism in the market prices now. They're coming back to a stable manner and people are reacting."
Michael Kinsella from Kinsella Estates is selling the three-bedroom bungalow at Harbour Court in Courtown. The 10-year old house is located in a small cul-de-sac of 28 homes.
"They were holiday homes, but the 10-year tax incentive is up so there's people living there. You have a sea view from the sitting room."
Mr Kinsella said "if the price is right" houses are selling. "We agreed sales on a good few houses around the €100,000 and €150,000 mark."
He recently sold a small 'two up, two down' cottage for €90,000 in Ferns. "The same cottage around the corner sold for €240,000 during the boom."
Meanwhile, a four-bedroom house is selling for €155,000 at Malton Park in Carnew, Co Wicklow, less than a five-minute drive from the world-renowned Coollattin golf course.
- Eimear Ni Bhraonain
Irish Independent


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super_furry

Well thats decided then. Everybody back in the pool!

connundrum

Straws. Grasped.

Cookie_Monster

Sounds like someone in particular wanted that house, more than anything.

This house is a half-hour closer to Dublin -- at just 106km away -- a journey that typically takes one hour and 30 minutes.

LOL, Courtown is 40 mins from Dublin, quality reporting.

Senna

Good man jetski, you be sure and tell us when the market booms again;)

shoegirl

Its a very sad day indeed that anybody would regard the price gouging of what sounds like essentially a substandard slum as a "good thing."

mconigol

There's still some idiots left with cash it seems!

the_syco

"Since May there have been positive signs. People are seeing the affordability out there," he said. "There's realism in the market prices now. They're coming back to a stable manner and people are reacting."

Stable. LoL. Coming from an EA, "stable" means "increase".

southofnowhere

They are in an exceptional location (in my opinion). They were part of the massive Begerin estate on the North Slob that sold for millions recently.

No houses/chalets/anything else will be built anywhere near there again, and quite rightly so. Those three chalets are smack in the middle of a special area of conservation. Most beautiful beach/spot in Ireland I reckon.

I'm down there the whole time, would only love to have had the money to chuck at one!

And don't start on at me all you geniuses who 'saw it coming', I'm not claiming the market ain't still circling the drain, just saying that there were different circumstances here.

They are just empty huts with roofs true enough. One fella is well on his way to renovating the middle one, the first one (nearest the beach) had a mobile home on the site quite quickly.

jetski

Senna wrote: »

Good man jetski, you be sure and tell us when the market booms again;)

Sarcasim is the lowest form of humor did u ever hear that before.... id say you have.

Muppetz like u have this forum ruined. mainly why i dont bother posting here.

Senna

jetski wrote: »

Sarcasim is the lowest form of humor did u ever hear that before.... id say you have.

Muppetz like u have this forum ruined. mainly why i dont bother posting here.

Maybe i'm mistaking you of another poster and my deepest apologies if i'm mistaken, but aren't you the gentleman that loved posting articles about the decline of the housing market and the subsequent bubble burst. Then you bought a property and since then you scour the internet for threads that might indicate a stability or growth in house prices and post them on here, no mater how rubbish the article.
But what do i know, i'm just a muppet, of course i'm a muppet that owns a property, but for some strange muppet reason, i dont feel bad about my muppet house purchase. I dont try to find solace by posting articles (like many of yours) in a one man attempt to re-inflate the market.

Amazotheamazing

These are unique properties that the purchasers don't intend to sell for the foreseeable future, you can't compare them to sink estates in the midlands.

jetski

Senna wrote: »

Maybe i'm mistaking you of another poster and my deepest apologies if i'm mistaken, but aren't you the gentleman that loved posting articles about the decline of the housing market and the subsequent bubble burst. Then you bought a property and since then you scour the internet for threads that might indicate a stability or growth in house prices and post them on here, no mater how rubbish the article.
But what do i know, i'm just a muppet, of course i'm a muppet that owns a property, but for some strange muppet reason, i dont feel bad about my muppet house purchase. I dont try to find solace by posting articles (like many of yours) in a one man attempt to re-inflate the market.

Yes, i did post articles about the decline.... about 2 years ago, at which time there were no stories on anything but decline.

Yes, recent enuf ive posted a few links to articles about property stabilizing or even growing... why not? that's what's in the news, it wasn't 2 years ago so why not have people discus them here? rather than listening to the usual mindless generalized tripe you and the like come out with on a day to day basis.

When did i ever say or suggest i was anything but 100% happy with my house?

"solace by posting articles" what sort of crap is that.

Senna

jetski wrote: »

that's what's in the news

Its in the news to keep the VI's happy, it not newsworthy and not thread worthy, unless to laugh at.

jetski

Senna wrote: »

Its in the news to keep the VI's happy, it not newsworthy and not thread worthy, unless to laugh at.

There you go again, your just looking to insult.

its supposed to be topic for debate