Property Auction

suitseir

What was all that about?


Obviously, taken into account bidders from the "outside", there is serious money in the country!!!!

If I had a couple of hundred thousand to spare, I guess I would be there too or if I had won €7m in the lotto, recently, I CERTAINLY would be investing in one or two pads in the metropolis!!!!

whiteonion

House prices are still to expensive, I'd rather wait for the inevitable default and possibly buy a house once the economy has tanked and a pad in Dublin city centre will go for 40k.

Highly Salami

whiteonion wrote: »

House prices are still to expensive, I'd rather wait for the inevitable default and possibly buy a house once the economy has tanked and a pad in Dublin city centre will go for 40k.

Happy renting!

whiteonion

Highly Salami wrote: »

Happy renting!

Yes buying a house now when the interest rates rise, taxes on the rise and social services being cut is nothing short of suicidal.

suitseir

whiteonion wrote: »

House prices are still to expensive, I'd rather wait for the inevitable default and possibly buy a house once the economy has tanked and a pad in Dublin city centre will go for 40k.

LOCATION LOCATION LOCATION....... If I was buying a pad in the part of Dublin I would like, I would imagine I would not get it for €40k!!!

whiteonion

Just wait and see when the IMF makes you slash the public sector, fire lots of PS workers AND cut the remaining PS salaries by 30% to get their salaries in line with other EU nations. Wait and see what will happen to house prices then.

Phill Ewinn

I see some eejit still paid 116,000 for a one bed dog box near the city.

123balltv

imagine buying a house for 60k surrounded by folks who
spent 260k some jealous looks you'd get

th3 s1aught3r

suitseir wrote: »

If I had a couple of hundred thousand to spare, I guess I would be there too or if I had won €7m in the lotto, recently, I CERTAINLY would be investing in one or two pads in the metropolis!!!!

Will people never learn :pac:

I had a good read through the list of what was sold and if the current rental prices of the houses quoted are true then some of them properties are making very nice money in rent compared to what they were sold for.

Be interesting what pops up in the next auction.

Highly Salami

123balltv wrote: »

imagine buying a house for 60k surrounded by folks who
spent 260k some jealous looks you'd get

Unfortunately that will never happen, prices will never go down by that much.

whiteonion

Highly Salami wrote: »

Unfortunately that will never happen, prices will never go down by that much.

In residential areas of Tokyo prices when down 90% during the crash. In some parts of Tokyo where the properties where insanely priced they fell 99%. Why could not the same happen in Ireland?

Daegerty

suitseir wrote: »

I CERTAINLY would be investing in one or two pads in the metropolis!!!!

I'd be investing in such a way that I'd never have to see the metropolis again

chillywilly

Realistically a 3 bedroom semi should go for around 90/100k. Some eejits see a house for 300,000 and still think it's a bargain. That's nearly 10 times the average wages! It should be 2.5/3 times the average wage!

JohnCleary

It was great craic, had a brilliant day out and left with a smile

Idiot rubber-neckers meant that some people may have missed out on oppertunity. Thankfully most of them left when asked to do so

chillywilly

JohnCleary wrote: »

It was great craic, had a brilliant day out and left with a smile

Idiot rubber-neckers meant that some people may have missed out on oppertunity. Thankfully most of them left when asked to do so

What do you mean? As in people were putting in false offers or what?

JohnCleary

chillywilly wrote: »

What do you mean? As in people were putting in false offers or what?

No, there were a lot of spectators taking up seats that could have been given to genuine bidders.

The room was packed and the hotel would not let any more people into the building. When the auction was suspended and the auctioneer pleaded with the spectators to leave, most of them did, freeing up about 30 - 40% of the room, and then allowing the rest of the genuine bidders (from the street) to get a seat

chillywilly

JohnCleary wrote: »

No, there were a lot of spectators taking up seats that could have been given to genuine bidders.

The room was packed and the hotel would not let any more people into the building. When the auction was suspended and the auctioneer pleaded with the spectators to leave, most of them did, freeing up about 30 - 40% of the room, and then allowing the rest of the genuine bidders (from the street) to get a seat

Ah, I see. I take it you were one of the genuine bidders?

Tech3

JohnCleary wrote: »

It was great craic, had a brilliant day out and left with a smile

Well did you get one of Clancys appartments then?

mconigol

Joanna Short Violin wrote: »

I had a good read through the list of what was sold and if the current rental prices of the houses quoted are true then some of them properties are making very nice money in rent compared to what they were sold for.

Be interesting what pops up in the next auction.

Are the prices published somewhere? Wouldn't mind having a look myself.

chillywilly

There is a thread in Accom and Property forum with the sold prices.

OutlawPete

Some places the property hasn't dropped as much as others. The way the media report the situation sometimes you would think that their was a proportionate drop in all properties that was pretty much equal across the board and that is just not the case. Houses for instance in certain areas of Malahide I seen recently were around €50,000 to €75,000 cheaper than they were in 2005 whereas you can pick up apartments for a 1/4 of what they went for. I'm not saying that those houses are a good buy, but property that was decent value for money in 2005, didn't drop anywhere near the percentage that the overpriced junk inevitably did.

oppenheimer1

suitseir wrote: »

What was all that about?


Obviously, taken into account bidders from the "outside", there is serious money in the country!!!!

If I had a couple of hundred thousand to spare, I guess I would be there too or if I had won €7m in the lotto, recently, I CERTAINLY would be investing in one or two pads in the metropolis!!!!

As opposed to whimsical money?

suitseir

th3 s1aught3r wrote: »

Will people never learn :pac:

Well, look at it at this way....if you had say €100k would you put in on deposit in the Bank? No I don't think so.

There is always only a fixed amount of decent property. So you buy a house/apartment....no mortgage.....you rent it and the return is excellent.:D

mconigol

mconigol wrote: »

Are the prices published somewhere? Wouldn't mind having a look myself.

They were listed in saturday's irish independent anyway, dont know if they are anywhere else.