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Property Market in Waterford

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  • Registered Users Posts: 752 ✭✭✭ jayboi


    Nolanger wrote: »
    Any ghost estates near Waterford city?

    Would any of the estates on carrickpherish road be classified as a ghost estate


  • Registered Users Posts: 308 ✭✭ Paige Turner


    reni10 wrote: »
    Don't want to single any people out but here are 2 very recent examples where people are just being totally unrealistic with their prices and the Real Estate Agents don't seem too bothered with them putting these up at about €100k above what they are worth:

    http://www.daft.ie/searchsale.daft?id=603465

    These will NEVER sell at this price!

    Same housing estate, few doors up and they are looking for nearly double, crazy!

    http://www.daft.ie/searchsale.daft?id=346279

    Could never imagine that house reaching E439,000.


  • Registered Users Posts: 1,495 ✭✭✭ thomasm


    reni10 wrote: »
    Don't want to single any people out but here are 2 very recent examples where people are just being totally unrealistic with their prices and the Real Estate Agents don't seem too bothered with them putting these up at about €100k above what they are worth:

    http://www.daft.ie/searchsale.daft?id=603465

    These will NEVER sell at this price!

    Same housing estate, few doors up and they are looking for nearly double, crazy!

    http://www.daft.ie/searchsale.daft?id=346279

    Could never imagine that house reaching E439,000.

    Must be sitting on an oil well


  • Closed Accounts Posts: 2,542 ✭✭✭ dayshah


    jayboi wrote: »
    Would any of the estates on carrickpherish road be classified as a ghost estate

    Not really, they have all been finished off and have people living there. They might be a bit underpopulated, but then you have lots of vacant houses in Lismore park when the students leave.

    I'd say once the price is right all the houses will be occupied. Eg, you might have single people who will afford a 3 bed semi rather than live in a flat. None of the housing estates in Waterford are in a fundamentally bad location, unlike the ones in Longford.


  • Registered Users Posts: 1,144 ✭✭✭ reni10


    Same housing estate, few doors up and they are looking for nearly double, crazy!

    http://www.daft.ie/searchsale.daft?id=346279

    Could never imagine that house reaching E439,000.

    That is a real shocker!!!! What are these people thinking???

    They are waiting for an even bigger idiot then they seem to be if they think they will ever sell that for €439k!

    That house is worth max €160k and in 6 months will be worth about €20k less.

    How out of touch are some people? And what in all seriousness did the real estate agent say to them when they said they want to sell for that type of money?


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  • Closed Accounts Posts: 2,542 ✭✭✭ dayshah


    reni10 wrote: »
    How out of touch are some people? And what in all seriousness did the real estate agent say to them when they said they want to sell for that type of money?

    I wonder if there is some sort of accounting trickery going on? Like if you sell for the realistic price do you lose some tax break? Or if you right down the value of your property, might you lose the ability to get an overdraft?

    I just can't understand how someone would expect over €400,000 for a fairly normal (though nice) house.

    What is the build quality in Bishopsfield?


    If anyone wants a laugh, look at this.
    http://www.daft.ie/searchsale.daft?id=275809

    €220,000 for a 1 bed apartment, prob worth €50,000. Same auctioneer (griffin) as the €439k bishopsfield house.


  • Registered Users Posts: 1,144 ✭✭✭ reni10


    dayshah wrote: »
    €220,000 for a 1 bed apartment, prob worth €50,000. Same auctioneer (griffin) as the €439k bishopsfield house.
    Yeah this is exactly what I am talking about with the Real Estate agents!

    I really have no idea what they are playing at?
    Unless they are just total and utter imbeciles they can't really think these properties will sell for anywhere near that!

    Here is one of the worst I have seen:
    http://www.daft.ie/searchsale.daft?id=588652

    €310k for a 2 bedroom apartment!!!!

    And have a look at the magnificent single picture that the Real Estate Agent posted up on Daft.ie!
    You must be absolutely insane to let this agent list your property in that state for that price...

    Hopefully with the downturn in property sales this will actually get rid of the real idiot real estate agents as they are doing no one any good especially the people they are supposed to be helping to sell their property and then let the good ones who are doing the right thing prosper...


  • Moderators, Entertainment Moderators, Regional South East Moderators Posts: 9,081 Mod ✭✭✭✭ ziedth


    I wonder is it a case of the people selling are in dreamland. Like he/she might have bought that 2-bed in the height of the boom and unwilling to believe that they got it so wrong.

    Like the estate agents make what? 8% commission? 8% of nothing is allot less then 8% of the 120k that it's worth.


  • Registered Users Posts: 43 Birdfood


    Estate agents fees are usually max 2.5% , percentage usually lower for high value sales but very few of these going on anywhere.


  • Closed Accounts Posts: 2,542 ✭✭✭ dayshah


    reni10 wrote: »
    And have a look at the magnificent single picture that the Real Estate Agent posted up on Daft.ie!

    Actually I spent a bit of time looking on Daft for a place to rent. Its amazing the photos that people put up, I mean photos where the apartment is a complete mess, and with dirty plates in the sink. You'd think they'd try tidy up a bit before taking a photo.


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  • Registered Users Posts: 555 ✭✭✭ gobo99


    reni10 wrote: »
    Here is one of the worst I have seen:
    http://www.daft.ie/searchsale.daft?id=588652

    €310k for a 2 bedroom apartment!!!!

    And have a look at the magnificent single picture that the Real Estate Agent posted up on Daft.ie!
    You must be absolutely insane to let this agent list your property in that state for that price...
    Lovely place to live as long as ya dont mind the odd armed stand off on the roof.


  • Registered Users Posts: 1,144 ✭✭✭ reni10


    gobo99 wrote: »
    Lovely place to live as long as ya dont mind the odd armed stand off on the roof.

    It seems to be worth about €250k more then all the others and now I know why:)

    What a ridiculous price to put on a 2 bed apartment.


  • Registered Users Posts: 2,629 ✭✭✭ Bards


    reni10 wrote: »
    It seems to be worth about €250k more then all the others and now I know why:)

    What a ridiculous price to put on a 2 bed apartment.

    It's not called daft.ie for nothing


  • Registered Users Posts: 2,272 ✭✭✭ merlante


    I'd say with the current lack of certainty in terms of interest rates, the currency, national bankruptcy, etc., and with properties still somewhat overvalued, you'd want to be looking at yields of over 9% at the very least. Also, you'd want to be happy living there for 10 yrs. If it's in town, there will probably always be a market of some description, and worse case scenario, you can walk to everything if you can't afford car insurance/tax/fuel anymore... Personally I wouldn't buy a place in the near future that couldn't be rented out easily if need be.


  • Closed Accounts Posts: 2,542 ✭✭✭ dayshah


    merlante wrote: »
    I'd say with the current lack of certainty in terms of interest rates, the currency, national bankruptcy, etc., and with properties still somewhat overvalued, you'd want to be looking at yields of over 9% at the very least. Also, you'd want to be happy living there for 10 yrs. If it's in town, there will probably always be a market of some description, and worse case scenario, you can walk to everything if you can't afford car insurance/tax/fuel anymore... Personally I wouldn't buy a place in the near future that couldn't be rented out easily if need be.

    Yeah, there'll always be a market for houses in the centre. I'm not sure about some of the apartments though. Where will the money come from for their general upkeep? I think a lot of them will become tenements.

    Even at the height of the boom €300k for an apartment was nuts, when you could get a decent house for €250k, and even the 'suburbs' like Lismore Park or Viewmount are within walking distance of the centre.


  • Registered Users Posts: 1,069 ✭✭✭ Hoffmans


    so generally prices in waterford have sunk 45-60% to more realistic levels...

    people say in the boom ? what boom it was a false economy and the top dogs/scum knew it ...........

    so for the newly married couple with a young toddler who bought the 3 bed semi for say 260k in some nice just above middle class neighbourhood
    are now still paying the banksters round a grand a month for the gaff thats now worth say 140k...why?

    well because the media spin (banks get tough on lenders) tells them they have to? no they dont! lenders must now get tough on banks!
    after all the guys who lost big to the banks owing billions didnt get foreclosed ,they get 200k a year from nama for it.....


  • Registered Users Posts: 1,144 ✭✭✭ reni10


    Another day another house for sale at a ludicrous price on Daft.ie:

    http://www.daft.ie/searchsale.daft?id=604503

    Advertised for €285k!!! - It is worth no more then €150-€160k!

    What are these people and the so called real estate agents thinking???

    And this is what is written in the stupid description by an obviously imbecile agent:
    "This property would be an excellent starter home"
    Yeah right when you can actually get a starter home for less than €100k at the moment!
    It is idiots like this that also played a big hand in creating the trouble Ireland is now in with their stupid valuations and greed!

    It will never sell for that price... Some people will just never learn!


  • Registered Users Posts: 9,567 ✭✭✭ spookwoman


    Don't know how they can charge those price on the dunmore road! Should only be going for 60 to70k. Know one estate where the radiators are crap in all the houses and are starting to burst. Windows are cheap and dont close properly. No sound insulation and you can hear neighbours through the walls. Dogs constantly barking all over the estate. Gardens turn to swamps.


  • Registered Users Posts: 1,144 ✭✭✭ reni10


    spookwoman wrote: »
    Don't know how they can charge those price on the dunmore road! Should only be going for 60 to70k.

    I think by January we will see the standard 3 bed semi on the Dunmore road stabilise at just under €100k.(Probably be advertised for €99,000)
    Then it will stay like that for a year or two with 3 bed detached houses out there coming down to about €120K and 4 bed detached coming down to about €140k - €150k.
    Anyone who has a house that they want to sell now will viciously deny that the above prices are possible but this is the reality that they need to face!

    I heard an interesting quote from someone recently that desperately wants to sell their 3 bed semi on the Dunmore road, they were told it was only realistically worth €120k now! They then said they would prefer to burn it then sell it for that price!
    This comes from a person who bought it for about €75k originally!

    People like this seem to be born and stay stupid forever and the bank will eventually take this house from them and they will be left with nothing.


  • Closed Accounts Posts: 2,542 ✭✭✭ dayshah


    reni10 wrote: »
    I heard an interesting quote from someone recently that desperately wants to sell their 3 bed semi on the Dunmore road, they were told it was only realistically worth €120k now! They then said they would prefer to burn it then sell it for that price!
    This comes from a person who bought it for about €75k originally!

    That's nuts. Some people also forget that if you want to move home, the house you'll move into will also be cheaper, so its only a problem if you are in negative equity.


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  • Registered Users Posts: 1,144 ✭✭✭ reni10


    dayshah wrote: »
    That's nuts. Some people also forget that if you want to move home, the house you'll move into will also be cheaper, so its only a problem if you are in negative equity.

    Yeah some people just have no comprehension that the market price for their house has fallen dramatically and are totally in denial.
    While they are in denial the price of their property falls everyday!

    I think we should continue to post up the ridiculous asking prices in this thread as they come on the market as a warning to those people both buying and selling!

    People might then also find out which Real Estate agents to stay well clear of and which ones are doing their vendors justice.


  • Registered Users Posts: 917 ✭✭✭ giles lynchwood


    I looked at a house very recently in city center the asking price was 65k and i made an offer of 40 k the agent laughted in my face and refused to make the offer,so i upped it to 45,the agent came back and said it was refused and that the seller might talk at 50,as it was a nice house i said ok,again no joy,in the meantime i saw same house, different agent so i approached him and asked him to make an offer i informed him of the previous offers, straight away he said,sorry can`t touch it once you have spoken to another agent (cartel or what),then i managed to find out contact details for the owner and when i contacted him he informed me he had not recieved any of my offers and was very annoyed with the agent no 1.Another agent i have spoken to told me that he has access to any houses on daft,no matter who the advertised agent is.This would seem to suggest that daft is a cartel of agents.The banks are getting a lot of stick(and rightly so)about not approveing home loans and therefore holding up property market recovery.IMHO,estate agents are equally if not more responable for this,but with all the attention on the bank´s,this appears mostley to go unoticed.


  • Registered Users Posts: 1,144 ✭✭✭ reni10


    then i managed to find out contact details for the owner and when i contacted him he informed me he had not recieved any of my offers and was very annoyed with the agent no 1.

    This is exactly what I am talking about with these supposed Real Estate Agents!
    Some of them are NOT doing the right thing by the buyer or more importantly the seller who is paying them!

    I say it is time that these dodgy idiots are named and shamed in this thread at least so it can aid people in choosing a decent Real Estate Agent.

    So @giles lynchwood please post the name and company for this agent.
    Hopefully this is not against boards.ie rules which I doubt it would be as it is telling us of a personal experience of yours but if one of the mods thinks this is then please PM the details as I want to keep my own record of these useless agents!


  • Moderators, Entertainment Moderators, Regional South East Moderators Posts: 9,081 Mod ✭✭✭✭ ziedth


    I'd prefer if you didn't post the name of the estate agents. Sorry, its not that I don't believe you but it's a fairly serious acqusation and like with all these kind of things we ask not to post it without linking to an article or whatever as proof. Cheers

    Good idea for the thread to try and find any houses that you feel are over/under priced and post them up.


  • Moderators, Entertainment Moderators, Regional South East Moderators Posts: 9,081 Mod ✭✭✭✭ ziedth


    reni10 wrote: »
    Another day another house for sale at a ludicrous price on Daft.ie:

    http://www.daft.ie/searchsale.daft?id=604503

    Advertised for €285k!!! - It is worth no more then €150-€160k!

    What are these people and the so called real estate agents thinking???

    And this is what is written in the stupid description by an obviously imbecile agent:
    "This property would be an excellent starter home"
    Yeah right when you can actually get a starter home for less than €100k at the moment!
    It is idiots like this that also played a big hand in creating the trouble Ireland is now in with their stupid valuations and greed!

    It will never sell for that price... Some people will just never learn!

    Do you really think that house should only be going for €150k? It's a lovely house IMHO.


  • Registered Users Posts: 1,144 ✭✭✭ reni10


    ziedth wrote: »
    Do you really think that house should only be going for €150k? It's a lovely house IMHO.

    It might be a nice house but I believe a 3 bed semi out there is only worth €120k so for an extra bedroom I would add on another €20k and then for it being detached it gets another €20k those basically make this house 1/3 more expensive then a 3 bed semi which I think is about right and would bring it to about €160k in todays market(in 6 months time I say only €150k for this house though!).

    I dont believe it is worth 50% more then a 3 bed semi but at 33% more that sounds about right.

    Everything gets baselined against the 3 bed semi price of €120k and then add on the extras at about €20k a pop(extra room, detached, extra land etc.).

    That is my theory anyway and to me sounds about right, interested to hear other peoples views though!!!


  • Registered Users Posts: 1,225 ✭✭✭ Dan133269


    It's certainly a first time buyers market. Has anyone on here actually bought a house or other property? Thanks for your story ziedth. If only I had a few quid I could invest in something. Then again, if only I had a few quid I could enjoy a night out or a few concerts! :D

    How much would a 3 bed semi in somewhere like Hillview be selling for now?


  • Registered Users Posts: 2,629 ✭✭✭ Bards


    reni10 wrote: »
    It might be a nice house but I believe a 3 bed semi out there is only worth €120k so for an extra bedroom I would add on another €20k and then for it being detached it gets another €20k those basically make this house 1/3 more expensive then a 3 bed semi which I think is about right and would bring it to about €160k in todays market(in 6 months time I say only €150k for this house though!).

    I dont believe it is worth 50% more then a 3 bed semi but at 33% more that sounds about right.

    Everything gets baselined against the 3 bed semi price of €120k and then add on the extras at about €20k a pop(extra room, detached, extra land etc.).

    That is my theory anyway and to me sounds about right, interested to hear other peoples views though!!!

    My Theory on proper vaulations is this.

    A starter home (3-bed semi) should be rougly 3.5 times the Average Industrial Wage. So if we say the AIW is €38,000 3.5 times this is €133,000

    then you go from here as you said by adding on €20K here for extras such as extra bedroom etc.


  • Closed Accounts Posts: 2,542 ✭✭✭ dayshah


    Dan133269 wrote: »
    How much would a 3 bed semi in somewhere like Hillview be selling for now?

    I saw one for €115k in Lismore Park area.

    http://www.daft.ie/searchsale.daft?id=393798

    I'd prefer a garage to an extra bedroom though. Not many houses with garages anymore :(

    (A garage makes me feel macho, as I work on my bike and have a beer)


    Here is a list for Hillview
    There is a nice 3-bed bungalow semi detached for €99,000


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  • Registered Users Posts: 1,144 ✭✭✭ reni10


    Dan133269 wrote: »
    How much would a 3 bed semi in somewhere like Hillview be selling for now?

    I think a 3 bed semi in Hillview is worth about €100k at the moment and will fall about another 10-15% in about 6 months time to stabilise at about €80-€90k.
    Hillview is a less desirable and older place to live so there is probably about a €20k premium on the Dunmore Road so the location would be considered an extra which gives you the €120k current price-tag.


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