Allsops auction

handlemaster

Prices seem to be strong again today

RATM

Some posters over on the Property Pin are calling it a pre-budget bloodbath, lots of properties didn't meet their reserve. There might be deals done on them post-auction though.

jodaw

handlemaster wrote: »

Prices seem to be strong again today

different perspectives...

I thought i has been a disaster so far. I am just wondering how long it will be until the interest drops off in these BTL auctions.

The state of most of whats on offer is absurd. The time will come when an allsop auction will no longer be newsworthy

Monty Burnz

handlemaster wrote: »

Prices seem to be strong again today

Not at all. Looks like the worst showing yet.

RATM

Is it true Dartmouth Square didn't sell? I thought the Council were intending to bid ?

jodaw

RATM wrote: »

Is it true Dartmouth Square didn't sell? I thought the Council were intending to bid ?

not one bid. auctioneer looked like a tool tbh

Monty Burnz

RATM wrote: »

Is it true Dartmouth Square didn't sell? I thought the Council were intending to bid ?

Yup, failed to sell during the auction. May sell below the reserve afterwards of course.

handlemaster

the eight apartments in galway went cheap @ €320

Monty Burnz

handlemaster wrote: »

the eight apartments in galway went cheap @ €320

6 houses in Co. Galway in one lot went for €100k. Bloodbath.

handlemaster

Monty Burnz wrote: »

6 houses in Co. Galway in one lot went for €100k. Bloodbath.

I missed most of it... what lot number was that ?

Monty Burnz

handlemaster wrote: »

I missed most of it... what lot number was that ?

http://www.auction.co.uk/irish/LotDetails.asp?A=828&MP=24&ID=828000015&S=L&O=A

RATM

Monty Burnz wrote: »

Yup, failed to sell during the auction. May sell below the reserve afterwards of course.

I'm still scratching my head as to what it could actually be used for, especially as the council said they'll never be giving permission for anything to be built upon. The only people who seem to have an interest in it would be the 70 residents around it. At €2k a household it could be their own private park where only they hold the keys.

Hopefully the council does buy and it stays in public hands, its a lovely little park and is well maintained.

handlemaster

Monty Burnz wrote: »

http://www.auction.co.uk/irish/LotDetails.asp?A=828&MP=24&ID=828000015&S=L&O=A

I wonder were they the famous 'builders finish'

handlemaster

land on sale at the moment in cork is going for a high price @ 255k

RATM

Monty Burnz wrote: »

6 houses in Co. Galway in one lot went for €100k. Bloodbath.

Wow, €17,000 for a house in Galway. Sure you wouldn't get a decent second hand Merc for that !

In fairness they are no-where near Galway city and are close to the Roscommon border, i.e. an unemployment black spot.

Nonetheless at €17k a house someone has got a bargain here. Even selling them individually for €35k will produce a 100% return. There are also 6 sites included in the lot which could surely fetch at least €8k each, generating a further potential €48k.

A bloodbath indeed.

Monty Burnz

RATM wrote: »

I'm still scratching my head as to what it could actually be used for, especially as the council said they'll never be giving permission for anything to be built upon. The only people who seem to have an interest in it would be the 70 residents around it. At €2k a household it could be their own private park where only they hold the keys.

Hopefully the council does buy and it stays in public hands, its a lovely little park and is well maintained.

Could be a nice spot for a weekend market (in council hands) - right next to Luas and all.

Lyn256

There's a real difference between the properties asking under €100K and those asking over €100k. Many of those with low asking are going for 2/3 times asking but the dearer properties are going for just over asking or not at all.

Budget, definitely, having an effect

Monty Burnz

handlemaster wrote: »

land on sale at the moment in cork is going for a high price @ 255k

There was no crash in land prices. Farmers have never had it better.

handlemaster

RATM wrote: »

Wow, €17,000 for a house in Galway. Sure you wouldn't get a decent second hand Merc for that !

In fairness they are no-where near Galway city and are close to the Roscommon border, i.e. an unemployment black spot.

Nonetheless at €17k a house someone has got a bargain here. Even selling them individually for €35k will produce a 100% return. There are also 6 sites included in the lot which could surely fetch at least €8k each, generating a further potential €48k.

A bloodbath indeed.

If the houses are not finished inside you'd be looking at 50k potentially to get them right... so the bargain might not be as it seems. No rental potential either I wouldn't think

handlemaster

lot 75 looks interesting. Great location for investment purposes...

jodaw

RATM wrote: »

Wow, €17,000 for a house in Galway. Sure you wouldn't get a decent second hand Merc for that !

In fairness they are no-where near Galway city and are close to the Roscommon border, i.e. an unemployment black spot.

Nonetheless at €17k a house someone has got a bargain here. Even selling them individually for €35k will produce a 100% return. There are also 6 sites included in the lot which could surely fetch at least €8k each, generating a further potential €48k.

A bloodbath indeed.

-Add cost of maybe fixing weathering and dampness issues
-Installing/fixing sewage,lighting, services
-Cost of bringing each house up to marketable condition
-No market for homes in the area
-A ghost estate that no person wants to live

An expensive headache imo.

I dont get this mindset that people think they a getting a bargain buying at auction. In many circumstances it is the opposite. We need to get over this buy and sell and get rich mentality.

It sold for this price for a reason. That is what it is worth. No more/ No less.

Still at least the property tax will be nice on them

Monty Burnz

jodaw wrote: »

-Add cost of maybe fixing weathering and dampness issues
-Installing/fixing sewage,lighting, services
-Cost of bringing each house up to marketable condition
-No market for homes in the area
-A ghost estate that no person wants to live

An expensive headache imo.

Do we know that these houses are unfinished?

handlemaster

Monty Burnz wrote: »

Do we know that these houses are unfinished?

there's no mention of them been finished which would be a very strong selling point. so if I were a betting man i'd say they were unfinished.

jodaw

Even if they were semi finished at some stage we can probably assume that someone has unfinished them since

MICHAEL D HIGGINS SLAMS GHOST ESTATE VANDALISM IN THE CITY

August 10, 2010 - 4:21pm The recent vandalism and robbery of boilers from Sliabh Bhán housing estate in Ballybane should have been anticipated and must not be allowed to happen again.
That's according to Galway West Labour Deputy Michael D Higgins who has condemned the 100 thousand euro worth of looting done by what he calls 'organised criminals'.
At least 16 high-tech water boilers were stolen from the 19 vacant houses in the Sliabh Bhán estate over the past week.
There are reports the boilers were 'stolen to order'.:D

handlemaster

sad but true

handlemaster

its strange that its mostly commercial property for sale..

Monty Burnz

handlemaster wrote: »

there's no mention of them been finished which would be a very strong selling point. so if I were a betting man i'd say they were unfinished.

There's no mention of any of the properties being finished.

jodaw

cannot believe someone parted with 20K for that longford house. I have been in that estate and it is one of the most depressing places i have ever been. I came out losing all hope for humanity.

I would NOT accept 20K a year to live in that dump

handlemaster

jodaw wrote: »

cannot believe someone parted with 20K for that longford house. I have been in that estate and it is one of the most depressing places i have ever been. I came out losing all hope for humanity.

I would NOT accept 20K a year to live in that dump

lol

handlemaster

the flat in Boyle might go for the lowest amount today

RATM

Looks like Dartmouth Square did sell post-auction. There is no price for it, only a notice that says 'Sold After'

http://www.auction.co.uk/irish/LotDetails.asp?A=828&MP=24&ID=828000024&S=L&O=A

Cuddlesworth

Sold for 142,000 to both the council and some local tenants.

tim_sims

Monty Burnz wrote: »

There was no crash in land prices. Farmers have never had it better.

i thought farmers only earn half the industrial wage

do you mean to tell me the IFA lied to me :eek: