Neighbour just put his house up for sale for €100k, great disgrace

Rabidlamb

After getting no offers, or even viewing he's gone mad low ball he's lost the run of himself hoping to get some bidding going.
This is obviously going to attract riff raff & undesirables to the estate, we could do without that.
Admittedly it's only 50% of what we all paid for ours 6 years ago but I could have done without the reality check.

There's going to be couples in their early 20's having pre-marital sex isn't there.
Think I might have a word with him for the sake of our good name.

chin_grin

May I direct you here.


http://www.reddit.com/r/firstworldproblems/

Feeona

and your address is.......? (Takes out 100,000 from under the bed)

housetypeb

It's still overpriced.

El Horseboxo

I'll sell my house for whatever the fúck i like.

D1stant

Rabidlamb wrote: »

After getting no offers, or even viewing he's gone mad low ball he's lost the run of himself hoping to get some bidding going.
This is obviously going to attract riff raff & undesirables to the estate, we could do without that.
Admittedly it's only 50% of what we all paid for ours 6 years ago but I could have done without the reality check.

There's going to be couples in their early 20's having pre-marital sex isn't there.
Think I might have a word with him for the sake of our good name.

Link?

Mr Freeze

Riff raff & undesirables & pre-marital sex. :eek:

Better move out quick. Before you know it, there will be nothing but pregnant women and feral children roaming the place in packs.

Mr. Denton

Pfft, I could buy Wayne Dundon's street for 100k

Gummy Panda

Rabidlamb wrote: »

After getting no offers, or even viewing he's gone mad low ball he's lost the run of himself hoping to get some bidding going.
This is obviously going to attract riff raff & undesirables to the estate, we could do without that.
Admittedly it's only 50% of what we all paid for ours 6 years ago but I could have done without the reality check.

There's going to be couples in their early 20's having pre-marital sex isn't there.
Think I might have a word with him for the sake of our good name.

3/10

North_West_Art

it isn't really 100,000.. what is the final figure on 100k for 30 years @ 5% approx?

phill106

Mr. Denton wrote: »

Pfft, I could buy Wayne Dundon's street for 100k

Well on paper you could, in reality you would buy it, then one of his mates would move in without so much as a by your leave!

Mr. Denton

North_West_Art wrote: »

it isn't really 100,000.. what is the final figure on 100k for 30 years @ 5% approx?

191k
http://www.itsyourmoney.ie/index.jsp?p=118&n=298

Fremen

North_West_Art wrote: »

it isn't really 100,000.. what is the final figure on 100k for 30 years @ 5% approx?

Given that inflation is at 4%, not that much more in real terms.

Wile E. Coyote

North_West_Art wrote: »

it isn't really 100,000.. what is the final figure on 100k for 30 years @ 5% approx?

€190,819.87 to be exact.

cyrusdvirus

Gummy Panda wrote: »

3/10

that's a bit generous, isn't it?

it'd be a 3/10 if he'd gone to the trouble of doing up a fake sales brochure for the house/apartment.

This effort doesn't even warrant a 1/100 to be honest

Rabidlamb

D1stant wrote: »

Link?

http://conveyor-chains.net/wp-content/uploads/2011/02/chain-link.jpg

Nay laddy, I could get outed for being the curtain twitcher I really am.

Mr. Denton

phill106 wrote: »

Well on paper you could, in reality you would buy it, then one of his mates would move in without so much as a by your leave!

Buy a street for 100k? Yeah probably. In time the four familes will be wiped out and you can start gentrifying the place. I could even put a security fence around it and a "no knives" sign outside (which granted at first might be a shock to the system of the people of Limerick).

squod

Lots of loons up here looking for 100k for their 1 or 2 bed apartments. Property is worth what people are willing to buy it for. Unless plenty of idiots get rich I doubt we'll see a hundred grand being spent so foolishly in the future.

cock robin

I think you should rename the thread op to. Neighbour sells his home for what it is actually worth. At 100k its only devalued 50% which is about average.

Rabidlamb

Gummy Panda wrote: »

3/10

gatecrash wrote: »

that's a bit generous, isn't it?

it'd be a 3/10 if he'd gone to the trouble of doing up a fake sales brochure for the house/apartment.

This effort doesn't even warrant a 1/100 to be honest

http://1.bp.blogspot.com/_a_RKnA-5nsI/TLfS8BzbEmI/AAAAAAAAAsI/RQBWDCr-iM8/s1600/sad-puppy.jpg

Mr. Denton

cock robin wrote: »

I think you should rename the thread op to. Neighbour sells his home for what it is actually worth. At 100k its only devalued 50% which is about average.

Woah woah woah! If we start selling stuff for what's it's actually worth then how are we going to get this fake economy back up on its feet again? Did you ever think about that!

denballs

Wile E. Coyote wrote: »

€190,819.87 to be exact.

are you like me ..and can do it in your head....or are you....really really bored?

denballs

Rabidlamb wrote: »

After getting no offers, or even viewing he's gone mad low ball he's lost the run of himself hoping to get some bidding going.
This is obviously going to attract riff raff & undesirables to the estate, we could do without that.
Admittedly it's only 50% of what we all paid for ours 6 years ago but I could have done without the reality check.

There's going to be couples in their early 20's having pre-marital sex isn't there.
Think I might have a word with him for the sake of our good name.

erm.......are you 90+........just a very strange overly religious woman?.............



you just ruined your goiod name with that comment.........



oh.....and let me point out that thinking of people having pre marital sex (whatever that is........................)........is as sinful as doing so.........your goin to hell i guess....fact...by your own religion....bAHAHAHHAAHHA

Rabidlamb

denballs wrote: »

erm.......are you 90+........just a very strange overly religious woman?.............

No just 89, come back next year & the crack 'ill be 90.

thecornflake

Rabidlamb wrote: »

After getting no offers, or even viewing he's gone mad low ball he's lost the run of himself hoping to get some bidding going.
This is obviously going to attract riff raff & undesirables to the estate, we could do without that.
Admittedly it's only 50% of what we all paid for ours 6 years ago but I could have done without the reality check.

There's going to be couples in their early 20's having pre-marital sex isn't there.
Think I might have a word with him for the sake of our good name.

would a chat with joe help ?

Mr. Denton

Rabidlamb wrote: »

No just 89, come back next year & the crack 'ill be 90.

And so will the rest of your body.

123balltv

A woman on my road paid €360k, few houses up a house sold for 190k
she's on prozac now

I feel a bit sorry for her for any joe soap to lose 170k
but too pay well over a quarter of a million for a poxy, average house :eek:

ringadingding

Is it really 190k to be repaid on a 100k mortgage?????:eek:

I'm so glad i didn't succumb to the pressure of buying a house, every tom dick and harry was telling us we were idiots.

We managed to stay completely debt free, now we live in Europe where people rent their whole lives and it's considered normal, but the tenants have way better rights than in Ireland/ UK.

bnt

It would be €191k if you got a 100% mortgage on the €100k, but that's not going to happen these days: banks are demanding hefty deposits. Think €80k, perhaps, requiring a €20k deposit. That's another reason why buyers are thin on the ground.

Besides, 30 years is far too long: the monthly payment on €100k would be €530.06, but over 20 years it wouldn't be too much more: €653.84 (23% more), and a total outlay of just under €157k. Over 15 years? €785.02, total outlay €141k. With the stupidly-long mortgages of the Boom, it was Compound Interest that did a lot of the damage: that really is money down the drain.

North_West_Art

123balltv wrote: »

A woman on my road paid €360k, few houses up a house sold for 190k
she's on prozac now

I feel a bit sorry for her for any joe soap to lose 170k
but too pay well over a quarter of a million for a poxy, average house :eek:

worse than that..

interest on €360,000 for 30 years @ 4% = €253,399, so total = €613,399

http://www.itsyourmoney.ie/index.jsp?p=118&n=298

mal1

House I'm living in at the moment is on the market for 600k. The estate agent got a phone call within a week from a concerned neighbour who wanted 'a word with him for the sake' of the good name of the street. Only in Dublin.

ringadingding

I guess with the banks making that much on interest, no wonder they were so happy to let people mortgage themselves up the ass.

lastlaugh

Rabidlamb wrote: »

After getting no offers, or even viewing he's gone mad low ball he's lost the run of himself hoping to get some bidding going.
This is obviously going to attract riff raff & undesirables to the estate, we could do without that.
Admittedly it's only 50% of what we all paid for ours 6 years ago but I could have done without the reality check.

There's going to be couples in their early 20's having pre-marital sex isn't there.
Think I might have a word with him for the sake of our good name.

Hey. You are a Troll aren't you? I bet you just made up that story and added that 'riff-raff & undesirables' comment to create a sh!tstorm, didn't you? Ah yeah, I know your type alright. I'm reporting this and requesting you to be permobanned from boards.ie. How do you like taht?

sock puppet

North_West_Art wrote: »

worse than that..

interest on €360,000 for 30 years @ 4% = €253,399, so total = €613,399

http://www.itsyourmoney.ie/index.jsp?p=118&n=298

Though as pointed out that's not a very relevant figure at all.

TheMilkyPirate

lastlaugh wrote: »

Hey. You are a Troll aren't you? I bet you just made up that story and added that 'riff-raff & undesirables' comment to create a sh!tstorm, didn't you? Ah yeah, I know your type alright. I'm reporting this and requesting you to be permobanned from boards.ie. How do you like taht?

:rolleyes:

Rabidlamb

lastlaugh wrote: »

Hey. You are a Troll aren't you? I bet you just made up that story and added that 'riff-raff & undesirables' comment to create a sh!tstorm, didn't you? Ah yeah, I know your type alright. I'm reporting this and requesting you to be permobanned from boards.ie. How do you like taht?

The world will rest easier tonight knowing there's white knights like yourself to police the internet.
Report away my friend . . . . we're one step closer to utopia.
Should I wait by my PC for the Boards special branch & my pending waterboarding, think kindly of me, After Hours was meant to be a place of fun & banter . . . . sniff.
Never forget the Rabidlamb 1.

saa

OP, enjoy.

Rabidlamb

saa wrote: »

OP, enjoy.

Nope, nothing yet, I may as well go for lunch.
Looks like an extra helping of sour grapes & humble pie for me.
Anybody want anything ?.

cyrusdvirus

Rabidlamb wrote: »

Nope, nothing yet, I may as well go for lunch.
Looks like an extra helping of sour grapes & humble pie for me.
Anybody want anything ?.

A loan of your private assassin? Or failing that some lamb chops infected with rabies. Hot new girl in the office has a boyfriend that i need gotten rid of so i can offer my shoulders to cry on.

North_West_Art

sock puppet wrote: »

Though as pointed out that's not a very relevant figure at all.

relevant to those who took out 100% mortgages, of which there are many

sock puppet

North_West_Art wrote: »

relevant to those who took out 100% mortgages, of which there are many

No you misunderstand. It's not relevant because money in the future is worth less than money now.

Rabidlamb

gatecrash wrote: »

A loan of your private assassin? Or failing that some lamb chops infected with rabies. Hot new girl in the office has a boyfriend that i need gotten rid of so i can offer my shoulders to cry on.

Patience my young Jedi, this is a long ball game.
Stay in the Friends Zone for the next few months, she's new in the job & will be pleased to make new acquaintances.
The inevitable will happen with the boyfriend then BAM, low hanging fruit my friend, delicious.

maxxie

Dont worry mate, nobody would like to live next to you!

theteal

sweet jeazis, were people selling their sarcasm detectors during the bubble?

charlemont

mal1 wrote: »

House I'm living in at the moment is on the market for 600k. The estate agent got a phone call within a week from a concerned neighbour who wanted 'a word with him for the sake' of the good name of the street. Only in Dublin.

Ha, Thats priceless, You should sell it to Respond or a Homeless charity, Then watch the reaction..

North_West_Art

sock puppet wrote: »

No you misunderstand. It's not relevant because money in the future is worth less than money now.

apologies, I get you now

Solnskaya

3 times average wages for an average house used to be the rule? So 75k should be about right. But even as I post this, I see a rabid lamb smirking in the corner, there in the long grass, stroking its white cat and muttering "you fools, I have you now"

bnt

Solnskaya wrote: »

3 times average wages for an average house used to be the rule?

3x, maybe 3½x was the rule ... and it looked like the rule again last year, but the banks appear to have relaxed things since then. BOI's online calculator says a single owner-occupier on €50,000 p.a. can borrow up to €262,500: more than 5x income.

AIB talks about payments not exceeding 35% of your disposable income, which makes the calculations more complex. With some assumptions (5% compound interest, 1/3 to the taxman etc., 25 years) that works out to roughly 6x income - but circumstances may vary.

My opinion? 4x income is too much, and 25 years is too long. If that means I never buy a place in Ireland, I can live with that.

goat2

can you emagine the strain the neighbour must be going through to have to put his or hers precious home for sale for a fraction of what it is worth, i would not worry about who is moving in, i would be more worried about the person who has to leave his home, and start again with nothing, and little hope of making any decent income,

bnt

goat2 wrote: »

can you emagine the strain the neighbour must be going through to have to put his or hers precious home for sale for a fraction of what it is worth

I don't usually like this FYP idea, but it seemed appropriate here.

An asset is worth what someone will pay for it. It really is that simple. We know it was worth more during the housing bubble, because they paid more, but it's worth less now because a buyer will pay less. If that sounds "unfair", and you think "someone must fix that" - what do you think Karl Marx was on about, 150+ years ago? It's been tried. From Das Kapital:

In every stock-jobbing swindle everyone knows that some time or other the crash must come, but every one hopes that it may fall on the head of his neighbour, after he himself has caught the shower of gold and placed it in safety.

goat2

i am aware, that anything is only worth what we get for it, i also know people were overcharged for these houses, all i am saying is, to the person who is worried about what will move in, the man selling the house has more worries than thinking about who purchases the place, i wish him look, and anyway what 20 yr old has one hundred thousand, either they are stone broke going to in college, trying to get money together, or are out of work,