Anybody buy or sell a house lately?

spankmemunkey

Just wondering are there many houses been bought or sold in Waterford? has anybody bought or sold? normally this has a domino affect, just out of interest like? and would like to see the stats and if banks are lending.?

wellboytoo

Talking to an Auctioneer this morning about a house I want to move in Tramore, loads of buyers out there , no houses to sell, is the message, but priced to sell houses, that is the key. So we are talking a three bed in a nice mature area of Tramore with garage, will sell for €125k no more, a lot of people are not willing or able to let it go at that, but that is the market!

spankmemunkey

Wow thats unreal for 125!

I was thinking when theres alot of empty houses there is going to be cheaper houses if i was doing it as maths sum i would say RECESSION+OVERHANG= Cheap Houses! plus the fact that banks are probably not lending to the same level they were not so long ago.

Wonder what the stipulations are these days to qualify for a mortgage?
I bought a house in 2009 quite a bit away from 125!

TrustedApple

Was looking on daft.ie

You can get this for wait for it €48,000 euro for a 2 bed student apartment

http://www.daft.ie/searchsale.daft?id=650016

Ok if might not be the greatest area for place to buy but i would never think the they i can buy a 2 bed for €48,000 right in the center of waterford beside basically everything you need for that price no that is a deal and 1/2

dazftw

samapple789 wrote: »

Was looking on daft.ie

You can get this for wait for it €48,000 euro for a 2 bed student apartment

http://www.daft.ie/searchsale.daft?id=650016

Ok if might not be the greatest area for place to buy but i would never think the they i can buy a 2 bed for €48,000 right in the center of waterford beside basically everything you need for that price no that is a deal and 1/2

Buy it and rent it out.

Stokolan

spankmemunkey wrote: »

Wonder what the stipulations are these days to qualify for a mortgage?

We were talking about this in work the other day. One of the lads went into AIB to sort out some stuff and start asking about mortgage's. Now that they are state owned they are not handing out money that easy and the best they will offer is 75%. I think that was for first time buyers with both people working.

wellboytoo

Stokolan wrote: »

spankmemunkey wrote: »

Wonder what the stipulations are these days to qualify for a mortgage?

We were talking about this in work the other day. One of the lads went into AIB to sort out some stuff and start asking about mortgage's. Now that they are state owned they are not handing out money that easy and the best they will offer is 75%. I think that was for first time buyers with both people working.

That eliminates about seventy percent I would say!

Odats

wellboytoo wrote: »

That eliminates about seventy percent I would say!

That's the problem it is back to this where it is 70%-75% mortgages which is out of reach of the majority with no savings built up. IMO it is not far off where mortgage lending will return to 80%-90% of value of house model.

As mentioned in previous posts some people simply cannot let the house go for it's current market value and are looking for cloud cuckoo land prices in the hope that some fool will buy the house for that price.

Hoffmans

samapple789 wrote: »

Was looking on daft.ie

You can get this for wait for it €48,000 euro for a 2 bed student apartment

http://www.daft.ie/searchsale.daft?id=650016

Ok if might not be the greatest area for place to buy but i would never think the they i can buy a 2 bed for €48,000 right in the center of waterford beside basically everything you need for that price no that is a deal and 1/2

apartments with their management charges & taxes are pretty worthless ,better spending your cash on something standing on its own foundations...

spankmemunkey

I have a friend who is lucky enough to be in the position to be buying, shes thinking about buying in Railway Square, anybody live there or let me know what its like?

anplaya

lovely apartments,but session central is what i was told.

spankmemunkey

I was in there once before and the thing i noticed was the water pressure was seriously low, then again there could have been work going on but it was very very low near a drip,

loublue

Hi,
Does anyone think these are still a bit steep at 80k? I know it's 70% off the 2007 price and there well kitted out but theres ones in town selling for 27k...
Low management fee (2012 annual... fee is €314 for apartment )
http://www.daft.ie/searchsale.daft?id=660420

ToxicPaddy

I think its at the stage where people who have €300k mortgages on property that is now €150k.. they simply cant afford to sell them at €150k as they will be left with a €150k debt to the bank and nothing to show for it. But the bank is leaning on them so they put the house up for sale with no intentions of selling them any time soon just to get the banks to ease off.

If they sit on it for 5 years like that making payments to the bank and the property even rises 10%, its 10% less they owe.

I know someone who did that with some land. Had an outstanding tax bill with the revenue, told the revenue they could not afford to pay it off however were willing to sell some of their land and once that's sold, pay the bill. The revenue agreed without checking up.

The parcel of land, about 2 acres or agricultural zoned land had an asking price of €500k.. no one in their right mind was gonna pay that but it got their revenue off their backs for a while. It was a fairly common practice at one time or so I believe.

Hoffmans

some auctioneers may aswell be advertising on donedeal, with the dreamy valuations they have on some gaffs, prices are rock bottom whether they accept it or not, recent sales of 2 bed houses for 17k, 21k, 22k and a pub with 4 apartments for 71 k tell the real story..

loublue

Auctioneers are selling alot of properties that the banks owned.
http://www.daft.ie/searchsale.daft?id=660420

But the banks are not willing to reduce the prices to sell.. even for cash offers.
In this day in age you would think cash is king, with the banks not lending.

Has anyone experience of buying with cash?

Dan133269

loublue wrote: »

Auctioneers are selling alot of properties that the banks owned.
http://www.daft.ie/searchsale.daft?id=660420

But the banks are not willing to reduce the prices to sell.. even for cash offers.
In this day in age you would think cash is king, with the banks not lending.

Has anyone experience of buying with cash?

Cash is king. If the banks aren't bringing their prices down to realistic levels, then their properties are just going to sit there.

I think this property price index in September will make things a lot more transparent, and we can see exactly how much things are selling for below asking price.

EDIT: No experience of buying with cash myself, I wish I had that kind of money