Crazy price differences - realistic vs optimistic?

LEH

Two terraced houses, five doors apart. 2sq m difference in size, slightly more modern decor and slightly bigger garden. How much extra would you pay? I'm not sure myself but it definitely isn't €160,000!!! Even land in Foxrock can't be worth that much per sq m...

http://www.daft.ie/searchsale.daft?id=603412

http://www.myhome.ie/residential/brochure/7-st-brigids-close-foxrock-dublin-18/112981

Anyone got any other baffling price differences?

the groutch

one seller is living in the real world, the other is dillusional, and thinks it's still 2008

the_syco

Some want to sell, whilst others think that a "property ladder" still exists :rolleyes:

harry21

Surely thats a mistake. Half a mill for a terrace house!!!:eek:

johndaman66

harry21 wrote: »

Surely thats a mistake. Half a mill for a terrace house!!!:eek:

Certainly a mistake if somebody pays that anyhow. If you ask me both asking prices would seem optimistic for what you are getting, the latter being away with the fairies altogther though.

Nothing new about these discrepancies in asking prices though. Looking at houses below the €250k mark the discrepancies are just as large if not larger in percentage terms.

lrushe

Both look overpriced to me!!!

chicken fingers

Are they actually joking?
"very fine"... Outside, they both look like council houses from the 1970s
Inside, one is badly decorated, and the other is KITSCH kitsch kitsch!

Neighborhood is not bad, I will give them that.
Both prices are completely ridiculous, nonsense.
But the 450k pricetag.... somebody is either deluded or is trolling daft.

Jagle

is it just me, or is the cheaper one nicer?

breadmonster

its a trick to make the cheaper one look like a bargain. he/she got there friendly neighbour to advertise at a ridiculous price.

kevin101

Is it just a typo - a 4 instead of a 2 ie €449
Instead of €249.

johndaman66

kevin101 wrote: »

Is it just a typo - a 4 instead of a 2 ie €449
Instead of €249.

If it is such a typo then the EA would want to be shot really. We can all make a mistake and I'd be inclined to let certain typo's made in the description go but a mistake of that severity is pretty down right bad (if it is a typo that is). Its not as if Estate Agents are so busy these time to warrant such silly mistakes

LEH

Nope, just checked property watch and the €450k house is up at that price since 2009! Delusional just about covers it! The other one must be the cheapest 3 bed house in Foxrock, so interesting to see if it does sell, and at what price.

theg81der

This just literally makes me laugh... its ridiculous!:D

smile27

I don't know if that is a case but I heard that people in financial troubles are forced to sell their properties by the bank. A friend of mine gave me an example of her neighbors which are in mortgage arears and they are pushed to sell their family home. They put a ridiculous price to keep the bank happy that the house is on sale but on the other side they are sure that none is going to buy their family house. They still can live in the house, on a doll, paying nothing to the bank and think they are smart. It could be the explanation why some prices seem to be out of blue.

harry21

breadmonster wrote: »

its a trick to make the cheaper one look like a bargain. he/she got there friendly neighbour to advertise at a ridiculous price.

Right you could be!!

strandroad

I know if happens often when the house is part of a deceased person's estate. The children (or whoever is in line) put it on the market having no clue what it's worth today, if none of them really needs the money it will be there forever because if any of them suggests bringing the price down it gets accused of trying to diminish other siblings' share. Etc etc.

kerosene

House prices have a good bit to fall yet in my opinion. People just can't get mortgages.