County Waterford House Prices

crazy_kenny

Hi all,

Currently in the market for a 3 or 4 house in County Waterford. I looking in Kilmeaden, Kilmacthomas, Butlerstown areas. It seems to me that prices are still way over priced. Waterford is suffering alot after Celtic tiger crash but seems that people still looking for Celtic tiger house prices.

What you think?

Thanks,
Brian.

garyscargo

Some asking prices I've seen myself are a little bit crazy imo, and I agree that some people haven't quite accepted that the Celtic tiger is long dead (and been dug up and shot again a few times for good measure to be sure:). I'm looking to buy in the near future myself and am looking at Tramore as a possibility, but some asking prices are putting me off even viewing some houses (e.g. 385k plus being asked for 4 bed houses in one unfinished estate in Newtown - nice area, sure, but that just seems crazy to me for houses in an unfinished estate in this climate!). Still, im in no particular hurry and will bide my time until there is value to be had, wherever that may be.

Tangled

crazy_kenny wrote: »

seems that people still looking for Celtic tiger house prices.

A lot of mortgages were taken out during the celtic tiger, those asking prices are probably for the balance of the mortgage. Difficult situation for a lot of people who would love to sell.

crazy_kenny

Tangled wrote: »

A lot of mortgages were taken out during the celtic tiger, those asking prices are probably for the balance of the mortgage. Difficult situation for a lot of people who would love to sell.

Sur how can they really think they can sell for these silly asking prices? If people want to sell in the current market, put it up for a realistic selling price and take the hit with the negative equity.

rasper

crazy_kenny wrote: »

Sur how can they really think they can sell for these silly asking prices? If people want to sell in the current market, put it up for a realistic selling price and take the hit with the negative equity.

Don't the bank that holds the deeds will agree to that

stefan idiot jones

rasper wrote: »

Don't the bank that holds the deeds will agree to that

You are correct about that. If you owe the Bank two hundred thousand, you cannot just sell up for one hundred and fifty thousand and promise to pay the bank back the remainder. Remember, as in any mortgage the bank owns and holds the deeds to your property until you have paid them back every last cent.
Unfortunately people are still asking 'silly' money for their houses as they have no choice in the matter. The banks over the last couple of years have been proposing various ways of helping people in situations like these such as if you sell your house with you still oweing the bank money , you can add it to your next mortgage. Just prolonging the agony to me.
House owners in negative equity have two choices, ride it out for god knows how long until house prices reach similar levels or work out a painful repayment/remortgage with their bank if they have to move.
A truly horrible position to be in. I was heading for that position myself three years ago when I was selling my house in Kilmacthomas, every couple of months the asking price would drop until thankfully I found a buyer. If I hadn't sold it when I did, within the next year prices due to the house prices still falling I would have been in negative equity myself.
I wouldn't wish this prediciment on my worst enemy. If you are holding out for a better price then good luck because property prices WILL rise again and you will be kicking yourself. There are plenty of properties still for sale in the areas that you are looking at that I consider very good value.
CARPE DIEM

snausbaby

NAMA have appointed receivers to WD Bolster & Sons, the developers of Newtown Park, Tramore; only a few of these houses were ever sold. Will be interesting to see if NAMA sit on them as they are reportedly doing with most of their stock.

http://namawinelake.wordpress.com/2013/02/16/nama-has-receivers-appointed-to-established-waterford-developer/

crazy_kenny

snausbaby wrote: »

NAMA have appointed receivers to WD Bolster & Sons, the developers of Newtown Park, Tramore; only a few of these houses were ever sold. Will be interesting to see if NAMA sit on them as they are reportedly doing with most of their stock.

http://namawinelake.wordpress.com/2013/02/16/nama-has-receivers-appointed-to-established-waterford-developer/

You could probably call the receiver and put in an offer. I think the smallest house up there was around 300k.

loublue

Hi
I know these were for sale for €150k on Sherry Fitzgerald website. Does anyone know if these are still available or not?

Irishder

loublue wrote: »

Hi
I know these were for sale for €150k on Sherry Fitzgerald website. Does anyone know if these are still available or not?

Do you have a link to these houses, what stage wherebthey finished to

loublue

Irishder wrote: »

Do you have a link to these houses, what stage wherebthey finished to

2nd fix

Irishder

loublue wrote: »

2nd fix

Are they for sale do you know? I rang the estate agent and they said they are currently not for sale, do you know what the story is

loublue

Yes they are still for sale this one just sold but was plastered, had decking done etc...
It's on the property register for €186k


It's on the Sherry Fitzgerald waterford facebook page on the 4th of Feb as SOLD


There's another one on the property register that sold for 85k

Interesting how the auctioneer said they weren't for sale when most of the estate is still empty.y You could contact the receiver??
Let me know how you get on..