Allsop Auction

bladebrew

i was watching the news earlier, and if i heard right someone at the auction said, property prices have reached the bottom and are going up:eek:
thats the kind of people that attend:) although i dont think he bought a property it seems like a bizarre thing to say,
where was the property in cork? i dont see it listed

pburns

bladebrew wrote: »

i was watching the news earlier, and if i heard right someone at the auction said, property prices have reached the bottom and are going up:eek:
thats the kind of people that attend:) although i dont think he bought a property it seems like a bizarre thing to say,
where was the property in cork? i dont see it listed

I saw that.

My guess is that he was there for a gander and has a property to sell himself. Either that or he's an idiot - plenty of those around also...

el diablo

pburns wrote: »

I saw that.

My guess is that he was there for a gander and has a property to sell himself. Either that or he's an idiot - plenty of those around also...

Saw that too. Seemed like a clued in sort of chap. If he's called the bottom of the market that's good enough for me.

washman3

pburns wrote: »

I saw that.

My guess is that he was there for a gander and has a property to sell himself. Either that or he's an idiot - plenty of those around also...

At my local last night there was more talk of that chap than the auction itself. Himself and the sidekick beside him reminded me of Noel Dempsey and Dermot Ahern in the last days of Fianna Fail, when they denied point blank that the IMF were on their way here, when in fact their officials were already going through the books at the Central Bank.
I think these guys were on their way from the National Ploughing Championship,stoppped off for a gawk at the auction and were stunned to find out that an apartment can now be bought for the same price as a 4x4.
Either that or they've got property to sell themselves and begged RTE for a quick word to spread their spin.
Would love if somebody reading could put us in the picture re these chaps.
No names needed please, just their agenda.!!;)

TheApophis

The Rte bulletin failed to stress the fact that 10 properties failed to sell at all – out of 74. In the 1st auction only 1/84 failed to sell and in the 2nd auction 4/87 didn’t sell. This says a lot about the direction the auctions will be going. My guess is the reserves will have to be lowered and made more realistic or else they could end up not selling 15+ properties in the next auction and that won’t look good from the Auctioneers point of view.

Oh, and here are the ‘PLANTS’ that were interviewed on the News last night. Oh yeah, with the prospects of a double dip recession on the horizon house prices are definitely on the up. They didn’t show it but I know for a fact that these guys had their fingers crossed behind their backs.:eek:

the GALL

TheApophis wrote: »

The Rte bulletin failed to mention the stress the fact that 10 properties failed to sell at all – out of 74. In the 1st auction only 1/84 failed to sell and in the 2nd auction 4/87 didn’t sell. This says a lot about the direction the auctions will be going. My guess is the reserves will have to be lowered and made more realistic or else they could end up not selling 15+ properties in the next auction and that won’t look good from the Auctioneers point of view.

Oh, and here are the ‘PLANTS’ that were interviewed on the News last night. Oh yeah, with the prospects of a double dip recession on the horizon house prices are definitely on the up. They didn’t show it but I know for a fact that these guys had their fingers crossed behind their backs.:eek:

How do you know they had their fingers crossed behind their backs?......I'm just askin

Monty Burnz

washman3 wrote: »

Probably posting on the anti Martin McGinnis thread. He has them scared s..tless as well.

Well I've been arguing against MMG for president and I'm happy to see the price collapse continue...

washman3

TheApophis wrote: »

The Rte bulletin failed to mention the stress the fact that 10 properties failed to sell at all – out of 74. In the 1st auction only 1/84 failed to sell and in the 2nd auction 4/87 didn’t sell. This says a lot about the direction the auctions will be going. My guess is the reserves will have to be lowered and made more realistic or else they could end up not selling 15+ properties in the next auction and that won’t look good from the Auctioneers point of view.

Good post, had discussed that last night actually.
Fridays auction brought in €10m as opposed to €14m on the previous.
Also take into account that there were more businesses for auction this time which means larger sums than residental, so we can see where things are going. reserves will need to drop further.
Also, NAMA are due to release another 8000 properties in their next batch.
Those 2 cowboys must have squekey bums....:p

take everything

Just reading there about some dude who bought a place in Rathgar for about 450k and he reckons it'll be worth 5 million in 10 years time. I'm definitely missing something here.
http://www.irishtimes.com/newspaper/ireland/2011/0924/1224304677616.html (half way down)

JohnCleary

Can anyone link me to the RTE interview with the 'cowboys' - don't know what i'm searching for on RTE Player

beertons

take everything wrote: »

Just reading there about some dude who bought a place in Rathgar for about 450k and he reckons it'll be worth 5 million in 10 years time. I'm definitely missing something here.
http://www.irishtimes.com/newspaper/ireland/2011/0924/1224304677616.html (half way down)

He hadn't a clue in primary and secondary school. Some things don't change.

Ciaran_B

take everything wrote: »

Just reading there about some dude who bought a place in Rathgar for about 450k and he reckons it'll be worth 5 million in 10 years time. I'm definitely missing something here.
http://www.irishtimes.com/newspaper/ireland/2011/0924/1224304677616.html (half way down)

"The worst that can happen is that it will fall in value by 5 per cent"

Amazing.

bladebrew

JohnCleary wrote: »

Can anyone link me to the RTE interview with the 'cowboys' - don't know what i'm searching for on RTE Player

http://www.rte.ie/player/#!v=1113831

the link is for the 9pm news from the 23rd, you have to watch 3 ads, the auction bit begins around 10mins in, the 2 guys are at around 12minutes in, they only say one sentence buts its funny!
im not sure if they got more air time on any other broadcasts! they may have been on at 6?!



my lord, the guy on the news is daniel sammon, now by googling daniel sammon i found a website selling a book called www.walkacrossireland.com then i went to the gallery, and scrolled down


the same daniel sammon??

washman3

take everything wrote: »

Just reading there about some dude who bought a place in Rathgar for about 450k and he reckons it'll be worth 5 million in 10 years time. I'm definitely missing something here.
http://www.irishtimes.com/newspaper/ireland/2011/0924/1224304677616.html (half way down)

Is that the guy that got the settlement from the motorbike accident?
Fairly sure it is.!
The plus for him is he did'nt have to borrow the 450k for the property.
If it drops in value it makes little difference to him,he took a gamble with cash he did'nt have a few years ago.
But worth €5m in 10 yrs time.. think we're all missing something here.
Maybe he knows someone well in FF who will buy it to house a quango.;)

RATM

washman3 wrote: »

Is that the guy that got the settlement from the motorbike accident?
Fairly sure it is.!
The plus for him is he did'nt have to borrow the 450k for the property.
If it drops in value it makes little difference to him,he took a gamble with cash he did'nt have a few years ago.
But worth €5m in 10 yrs time.. think we're all missing something here.
Maybe he knows someone well in FF who will buy it to house a quango.;)

It's not him, the lad who paid €459,000 for the house in Rathgar from his accident compo is only 31.

I checked that place out- two of the tenants there were paying a ridiculously low rent of about €50 a week. That suggests that they are on some long term agreement where by they have life rights. If they're not in their 80's I'd be seriously worried for that chap. Also new rules forbidding bedsits with shared bathroom could be a big problem for him, as is re-wiring the whole building.

I wonder did he do any research at all?

the_syco

RATM wrote: »

I wonder did he do any research at all?

First time buyer at an auction? I severely doubt it.

Spiritofthekop

http://www.youtube.com/watch?v=7inIiXeROpU

Ireland's professional class have been shown up as complete muppets and chancers by Morgan Kelly.

Why is Morgan Kelly not being applauded by our goverment on TV & Radio nowadys & asking him for advice??

JohnCleary

What kind of idiot offers to go on an interview for national TV boasting how he just bought his first gaff from a compo pay-out?

I bought at the first Allsop auction (and got value - PM me if you want stats) - I politely declined when RTE (or some feckers with a camera and mic) asked to interview me outside after... the mind boggles. Or are some people just lonely and want some attention? No way in hell I wanted people knowing my affairs

Spiritofthekop

bladebrew wrote: »

http://www.rte.ie/player/#!v=1113831

the link is for the 9pm news from the 23rd, you have to watch 3 ads, the auction bit begins around 10mins in, the 2 guys are at around 12minutes in, they only say one sentence buts its funny!
im not sure if they got more air time on any other broadcasts! they may have been on at 6?!



my lord, the guy on the news is daniel sammon, now by googling daniel sammon i found a website selling a book called www.walkacrossireland.com then i went to the gallery, and scrolled down


the same daniel sammon??

The desperation in those 2 idiots in that interview in that link above....the pure desperation of it!..."thats the end of now it now lads, the property is bottomed out now lads...come on now lets see house prices rising up the feck now.. so my crappy little investment greed apartments I bought for 500,000 a piece are not worth 50,000 anymore, come on now jaysus"....its just disgusting to watch RTE show these morons on live tv news making such a stupid comment without any thought & reality behind it but there own pure greed in mind!

The housing market has crashed & it will take years & years before it shows any sign of recovery..banks will not & cant loan out money like they did before for mortgages ever again because no other countries trust us with money again!!

Jo King

That Rathgar house is looking onto the Harold's Cross Road, at the Kenilworth Junction. It is on a very busy junction with limited space outside. It would not be an attractive family home for most people. Only one house on that terrace has off street parking to the front. It will be almost impossible to make the house comply with the new regulations. It is a protected structure. Any work will need planning permission and the works will have to be supervised by a conservation architect. There are more of those type of properties on the market now than at any time in decades. There are 3 on Waterloo Road alone.
That purchaser can look forward to a nightmare. Expect it back in another auction with a lower reserve.

washman3

[QUOTE=Spiritofthekop;
Ireland's professional class have been shown up as complete muppets and chancers by Morgan Kelly.

Why is Morgan Kelly not being applauded by our goverment on TV & Radio nowadys & asking him for advice??[/QUOTE]

Hell will freeze over before Morgan will be asked for advice. On the contrary he will be lampooned and rubbished at every opportunity.
Remember that the present government have just as many members up to their neck in the property game as the previous shower.
Kelly,McWilliams and Constantin G are a serious thorn in their sides as their views pose a huge threat to the cronyism and nod and wink politics that exist for decades.
BTW, Anybody recognoise the second "cowboy" at the auction.
Looks like a schoolboy hiding something from the teacher.!
Or maybe he's just constipated....:rolleyes:

TheApophis

not sure of a name but looking at bladebrew's link above about Daniel Sammon's book, at the end of the photos page there's a group photo with a lad 3rd from the right who looks like our cowboy number 2. http://www.walkacrossireland.com/photos/rs1.JPG I could be wrong but it does look like him.

Also, if according to Daniel Sammon house prices have already reached the bottom and are now on the way up why didn't HE buy a property on Friday?? Even he doesn't believe his own advice

washman3

TheApophis wrote: »

not sure of a name but looking at bladebrew's link above about Daniel Sammon's book, at the end of the photos page there's a group photo with a lad 3rd from the right who looks like our cowboy number 2. http://www.walkacrossireland.com/photos/rs1.JPG I could be wrong but it does look like him.

Also, if according to Daniel Sammon house prices have already reached the bottom and are now on the way up why didn't HE buy a property on Friday?? Even he doesn't believe his own advice

Looks very like him to me too. well spotted.

Maybe Daniel is waiting for prices to come up to a decent level as he would hate to take advantage of somebody else's misery..:D

noxqs

450,000k to 5million over 1000% increase in 10 years?

Which universe does that man live in ?

I got stuff to sell to that man.

(Perhaps he is talking about the euro going into hyperinflation Zimbabwe style?)

Monty Burnz

noxqs wrote: »

450,000k to 5million over 1000% increase in 10 years?

Which universe does that man live in ?

I got stuff to sell to that man.

(Perhaps he is talking about the euro going into hyperinflation Zimbabwe style?)

Well, it's an interesting insight into the type of people who are buying at these auctions, and it shows that some people still regard the fantasy Bubble as 'normal times' and think that the current situation is an aberration, showing that they have learned absolutely nothing in the last 5 years.

JohnCleary

Monty Burnz wrote: »

Well, it's an interesting insight into the type of people who are buying at these auctions, and it shows that some people still regard the fantasy Bubble as 'normal times' and think that the current situation is an aberration, showing that they have learned absolutely nothing in the last 5 years.

Please don't tar all people with the same brush.

Of course auctions like these attract some idiots, but some people do their research etc. beforehand, get a good deal, and go about their day.

I was raging at the end of the first Allsop auction when I came outside to find people older (but certainly not wiser) than me 'boasting' to TV/Radio about the 'bargains' they got. I was probably one of the youngest people there seriously bidding and even I had the cop-on to just bugger off rather than hang around outside the hotel after

Duckjob

I couldn't care less what these guys do,

as long as they don't come wailing for "their NAMA" in a couple of years time if/when their little self enrichment schemes go tits up.

Monty Burnz

JohnCleary wrote: »

Please don't tar all people with the same brush.

Of course auctions like these attract some idiots, but some people do their research etc. beforehand, get a good deal, and go about their day.

Yes, of course I should have phrased that differently. Perhaps I should have said they were representative of one of the types of people who were buying.

TheApophis

"House prices continue to fall, 43% off the peak values" (RTE Six One News 26/09/11)

"Still no sign of them bottoming out"

Do you hear that Daniel Sammon!!

Monty Burnz

I think that the general public has a notion that prices will halve, and then magically stop falling - as if the bubble price was exactly twice what it should have been. There's absolutely no reason in the world why prices will suddenly stop falling, and the eventual total collapse could just as easily be in the region of 60 (which we will surely hit next year), 70 or 80 per cent.