Queueing up to buy houses and house expos during the boom

7sr2z3fely84g5

Does anyone remember this trend,a massive queue forming around the block to buy the latest development?,or when an expo was held in a local hotel telling you about the property abroad.

Any memories?.

mikemac

Sure who couldn't resist these by Darndale, near the halting site ,Northern Cross

Sex Sells

Future ghetto land out there

Bride2012

Bentlee Green Suspicion wrote: »

Does anyone remember this trend,a massive queue forming around the block to buy the latest development?,or when an expo was held in a local hotel telling you about the property abroad.

Any memories?.

I never bought a property but I do remember hearing the $h1te coming from people in the pub, 'oh Spain is so 90s, everyone knows that the money is in Croatia now'. Give me strength.

the_syco

Bentlee Green Suspicion wrote: »

a massive queue forming around the block to buy the latest development

This still happens, but the people are led to think that "OMGZLOL, we has super cheap houses for you" that are one gizzillion miles away from anywhere with no schools or shops nearby, and fed by a small little road.

Lovely houses here, that are OMGZ being sold at a low price: http://www.boards.ie/vbulletin/showthread.php?t=2056363874 but there "lower than what they were" and there's "actually low". Seem the EA's want us to think that all of the former are the latter.

Chuck Stone

That house buying mania is a disease imo.

Sergeant

The Property Pin has some great material on all that rubbish. The "What they said, when they said it. Quotes from VIs." has some lovely nuggets of wisdom from the great and the good of Irish society.

The site has been taken over by the lunatic fringe now though, so best used as a historical reference.

galwayrush

I remember reading in a local paper in Galway that some people paid students to queue for them overnight in order to secure the property.

Mr. Boo

People thought it was normal to queue up to put a deposit on a house in the middle of nowhere? They thought they would in fact be mad not to do it. lol

policarp

Anyone want to buy a 2 bed appartment in the Alicante area of Spain, with stunning sea views and off street car parking?
Price very very reasonable. . .

iPlop

Bentlee Green Suspicion wrote: »

Does anyone remember this trend,a massive queue forming around the block to buy the latest development?,or when an expo was held in a local hotel telling you about the property abroad.

Any memories?.

I remember a new development across from my house going up in 2005, the houses started at €440k for a 960ft 3 bed semi, €580k for the 4 bed semi and €770 for the 5 bed detached.


People flocked to the building site one sunday evening and slept in their cars for a week until launching day.

Today the 5 bed is on sale for €300k and the developer will be lucky if he even gets that.


Madness.

mikemac

I seem to remember a teacher on over fifty thousand salary crying as she was struggling to pay for her holiday home in Croatia on a radio show

Got a lot of debate on boards at the time

partyatmygaff

policarp wrote: »

Anyone want to buy a 2 bed appartment in the Alicante area of Spain, with stunning sea views and off street car parking?
Price very very reasonable. . .

I'll take it off your hands for a tenner. Well above market price so consider yourself lucky.

Logical Fallacy

I know people who used to make money by "standing in line" and generating buzz.

Paarse Krokodil

No

Actually I don't remember ever seeing that

Nodin

Bentlee Green Suspicion wrote: »

Does anyone remember this trend,a massive queue forming around the block to buy the latest development?,or when an expo was held in a local hotel telling you about the property abroad.

Any memories?.

I remember it, and I remember being sneered at for not getting in on it. I also remember being slagged off by a supervisor for not getting in on the Eircom shares. Thats me, financial risk adverse.

Eric Cartman

i remember new developments in the far off wilds of kill , kilcock and even the exotic celbridge having open days back in 2002-2005 , everyone would flock to these days and browse around a well done up show house with the prospect of buying , people were queuing outside a portacabin to pay deposits etc on these houses , madness

Paarse Krokodil

Nodin wrote: »

I remember it, and I remember being sneered at for not getting in on it. I also remember being slagged off by a supervisor for not getting in on the Eircom shares. Thats me, financial risk adverse.

The eircom shares were a dead give away, with the amount of advertising for it going on at the time it reeked to high heaven of a Pump n Dump.

and sure enough once all the suckers had bought in the shares started to plummet. Who actually benefited from this scam?

Sponge Bob

The massive queues for days beforehand were sort of a 2004-2006 thing and mainly in the Pale. I talked quite a few people out of it at the time, many of whom have emigrated since ........because they could!

paddylonglegs

Eric Cartman wrote: »

i remember new developments in the far off wilds of kill , kilcock and even the exotic celbridge having open days back in 2002-2005 , everyone would flock to these days and browse around a well done up show house with the prospect of buying , people were queuing outside a portacabin to pay deposits etc on these houses , madness

ah hindsight is great.

catbear

One of the Ross O'Carroll Kelly books captured it very well. Ross was working as an EA and I think one of the lines he used was "Athlone, the gateway to Dublin!".

Samba

Those were the days, I remember getting paid €250 for standing in such a queue for 20 minutes, the auctioneer decided to bring it forward to that evening instead of the following day and I still got paid.


Was tough business earning money back then :pac:

Sponge Bob

You were well worth every penny Samba

jesus_thats_gre

paddylonglegs wrote: »

Eric Cartman wrote: »

i remember new developments in the far off wilds of kill , kilcock and even the exotic celbridge having open days back in 2002-2005 , everyone would flock to these days and browse around a well done up show house with the prospect of buying , people were queuing outside a portacabin to pay deposits etc on these houses , madness

ah hindsight is great.

It is indeed. Know what is even better, being called an idiot on countless occasions between 2004 and 2008.

Want to guess why I was being called an idiot? You guessed it, I told that i was opting not to buy a property as they were at least double their true value and that the market was due to crash shortly - they really didn't like that I thought that 2001 would have seen the market settle down if it wasn't for the drop in interest rates back then.

Eric Cartman

jesus_thats_gre wrote: »

It is indeed. Know what is even better, being called an idiot on countless occasions between 2004 and 2008.

Want to guess why I was being called an idiot? You guessed it, I told that i was opting not to buy a property as they were at least double their true value and that the market was due to crash shortly - they really didn't like that I thought that 2001 would have seen the market settle down if it wasn't for the drop in interest rates back then.

but houses only go up in value dont you know

Paarse Krokodil

I saw people queing up to buy mediocre cars such as the BMW 730 Li during to boom :D:D

Eric Cartman

Paarse Krokodil wrote: »

I saw people queing up to buy mediocre cars such as the BMW 730 Li during to boom :D:D

the only thing mediocre about that was that it wasnt a 745 or 750

OPENROAD

Sink The Banana wrote: »

I remember a new development across from my house going up in 2005, the houses started at €440k for a 960ft 3 bed semi, €580k for the 4 bed semi and €770 for the 5 bed detached.





Madness.

And that was at the cheap end of things

Paarse Krokodil

Eric Cartman wrote: »

the only thing mediocre about that was that it wasnt a 745 or 750

I saw queues for them too. They'd all show up at the dealer and they'd have to stand in a different queue for each model

Pretend posh people would emerge from 5 star hotels with their tent in the middle of the night to camp outside the BMW dealer so they'd get the first spot only to find out some D4 students had beaten them to it. Then they'd have to move down to the 730 Li queue so they could still honestly say they slept in a hotel and got the first spot in the queue

may possibly be a complete pack of lies

jam_mac_jam

paddylonglegs wrote: »

ah hindsight is great.

Yeah because nobody saw it coming...

Sponge Bob

My brother bought one recently, down 80% from new and the mileage is not exactly shocking either.

Anyone remember this classic Irish property porn ??

http://img99.imageshack.us/img99/4038/belmayne2fx2.png

http://www.zimbio.com/pictures/yU0eKo_xPPO/Jamie+Louise+Rednapp+Unveil+Gorgeous+Living/v0xoWGzg7P2

the groutch

"stunning new development in portlaoise, only 40 minutes from the m50" was one of my favorites that I remember.

reality: "cardboard box in the A-hole of nowhere with a 2hr drive into the city centre each morning, and 3 hours back"

Teyla Emmagan

I have a friend who keeps thanking me for persuading her not to buy an apartment in the Liberties back in 2008. She was adamant that she wanted it, and had it at a good price, so I said 'Let's go up and see the place'. So we walked from Dame St. Found the place, looked lovely, I said 'Let's walk around', within 2 minutes we were in hellhole territory (it was a lovely apartment surrounded by really scary flats with loads of burnt out cars and terrifying youngsters glaring at us). Thought we would never get out of there. Anyway, she decided to hold off. Thank God, to be fair.

She had only ever approached it from the good side before. You can't stop people coming in from the back though etc, and they're the scary people who will be on the bus with you on the way home.

mattjack

my favourite exotic development was Adamstown...comes with its own train station ..something about the place reminds me of a documentary on Stalingrad...mud,half built buildings and the f**king cold along with lots of forlorn looking people walking around.

johngalway

jam_mac_jam wrote: »

Yeah because nobody saw it coming...

God give me strength, when I saw that headline in the Indo :mad:

But, I suppose when them that didn't see it coming had their heads shoved that far up their own arses they had reason.

Not good reason, but reason all the same.

Nodin

Paarse Krokodil wrote: »

The eircom shares were a dead give away, with the amount of advertising for it going on at the time it reeked to high heaven of a Pump n Dump.

and sure enough once all the suckers had bought in the shares started to plummet. Who actually benefited from this scam?

Indeed. Its one thing to throw loose change on a horse or the lotto, rather another to sink serious cash into something because 'it can't go wrong'.

It has to be said I avoided the housing thing because I refused to get into what I considered excessive levels of debt, rather than any foresight into the housing collapse. The only thing there I noticed was what I considered to be the excessive number of hotels going up.

7sr2z3fely84g5

Sponge Bob wrote: »

http://www.zimbio.com/pictures/yU0eKo_xPPO/Jamie+Louise+Rednapp+Unveil+Gorgeous+Living/v0xoWGzg7P2

i forgot about that one,thanks for the memory!.

Teyla Emmagan

Am still glad I couldn't afford to buy into the Eircom shares thing at the time. Seems like everyone else I knew did though...

hmmm

Teyla Emmagan wrote: »

Am still glad I couldn't afford to buy into the Eircom shares thing at the time. Seems like everyone else I knew did though...

What most people forget is that Eircom shares rose in price on the day they floated. People could have sold on day 1 and made money (and many did, myself included), but they got greedy. When they lost out, they wanted the taxpayer to pay off their losses.

tolosenc

Would people not just, y'know, rent?

previous user

mikemac wrote: »

Sure who couldn't resist these by Darndale, near the halting site ,Northern Cross

Sex Sells

Future ghetto land out there

I remember seeing these ads in the paper for the firs time,
Insane, would people actually look at that and think I can have that lifestyle too, idiots!

dsmythy

Are these the same people hoping for their mortgage debt to be forgiven?

Mike 1972

hmmm wrote: »

What most people forget is that Eircom shares rose in price on the day they floated. People could have sold on day 1 and made money (and many did, myself included), but they got greedy. When they lost out, they wanted the taxpayer to pay off their losses.

For the first fifteen days the trading was restricted to "institutional investors" (This is the REAL €ircom swindle that the media never picked up on) however the shares were still trading well above the flotation price (albeit not at the dizzy heights the II's could have sold them at) well after that so your point still stands.

Made a few bob on it myself. Didnt particularly approve of the privatisation but figured it inevitable that some fukers were going to make a few quid on this one so this fuker might as well be one of them.

ilovesleep

I remember a petition was signed in my locality against a housing development. It was more to do with environmental reasons and the fact that we knew that there wasn't a demand for such a thing especially at the expense of ruinning scenery.

Anyways petition was ignored. Development of 16 houses went ahead. Finished about 2/3 years now and all but 4/5 empty/not sold. Trying to get my hands on that petition now.

CL32

previous user wrote: »

mikemac wrote: »

Sure who couldn't resist these by Darndale, near the halting site ,Northern Cross

Sex Sells

Future ghetto land out there

I remember seeing these ads in the paper for the firs time,
Insane, would people actually look at that and think I can have that lifestyle too, idiots!

What you didn't see at the time was that those stupid adds were thrown up after the estate was already filling up with residents. They were the ultimate ego stroke of the prick developer Caulfield. The residents didn't think they could have that lifestyle - they lobbied to have the things taken down.

discus

My parents had spoken out against buying up extra properties. My parents are routinely sought for advice, and they had warned people around 2005-2007 that buying up extra property would ruin them, that prices can't go up forever.

Of course they bought the properties, threw the dinner parties and found renters to pay their mortgages... For about 2 years. Now they have empty apartments and houses and a rack of debt. My parents have paid off their mortgage.

I expect that it'll be Irish people like my parents who end up bailing out the mortgage defaulters.

chin_grin

https://www.youtube.com/watch?v=e4CtWb4tJBg

wild_cat

discus wrote: »

My parents had spoken out against buying up extra properties. My parents are routinely sought for advice, and they had warned people around 2005-2007 that buying up extra property would ruin them, that prices can't go up forever.

Of course they bought the properties, threw the dinner parties and found renters to pay their mortgages... For about 2 years. Now they have empty apartments and houses and a rack of debt. My parents have paid off their mortgage.

I expect that it'll be Irish people like my parents who end up bailing out the mortgage defaulters.

Don't talk to me about that...

My rents' are farmers. Most of the land had excellent road frontage and people were basically taking the piss out of them for doing nothing with it.....

mikemac

Depends on the county for road frontage

In Clare it was easy to get permission for sites, bungalow blitz everywhere

Cross the Shannon to Tipp and it was very difficult.
A son or daughter would even struggle to get permission for a farmers site.
Council wanted people in towns and villages

And then the busybodies that are An Taisce would get involved, don't even live in the area and want to dictate planning policy. Might spoil their view on their weekend drives from the city I suppose

Of course the same council who thought they were sensible approved Section Twenty Three all over the place. Cheaply built estates in villages which nobody will move into and nobody wanted. What a disaster

mathie

A couple of memories from the peak ...

I remember viewing showhouses in Holywell, Swords in 2007.
There was massive interest the houses and apartments we wedged full of people.
We asked the EA if there was a pricelist.
She says "This is the old pricelist. There will be a new one on Monday"

This was the launch weekend and they'd already decided to put up the prices!
We saw the new price list.
Everything had gone up close to 10%.
Insanity.


We also rented in an estate in Malahide.
It was built around the peak and they had a 'sealed bid' the most disgusting property tactic. You put in one bid and one bid only and the highest ones win.

The house we rented in was 2 bed and shockingly small. We couldn't eat at the table in the kitchen as there wasn't enough space. You couldn't bring the wheelie bin through the house without knocking off things.

It turned out the owner had paid half a million. We were renting for 900 euro a month last year which wouldn't have come near the mortgage.

Our neighbour told us she paid half that. This was three years later and the property had dropped 50%.

coup1917

Its all or nothing with this country..

From the days of pure greed when all walks of life were out to fleece you to the current climate where everyone is calling for mortgages to be paid off because ' the banks offered us too much money so it's their fault '

Thick Paddy Irish Mentality at its finest...

foxyboxer

The one for the Elysian in Cork was my favourite...
Here are some samples.

"..a landmark building for Cork which shows the positive energy of it's inhabitants.."

"..draws it's influences from the prosperous look of London's docklands..."

"..not simply and apartment block, it is a much more organic thing.."

"the elysian stands like a beacon above the city, by day it reflects the sun and sky, at night it twinkles with a myriad of lights"

Ehhhh, no lads, it's a bloody eyesore in Cork FFS!

(hmmm, maybe there's a book in this, taking all the Property Porn Purple Prose)