Difficulties buying house in North Dublin

RickyT

Hi

We are currently seeking a house in North Dublin - usual 3-bed semi / detached, anywhere from city centre out as far as Clarehall.

Finding it pretty cut-throat at the minute, as any properties going on the market are getting snapped up straight away. Further, properties seem to be selling for more than the asking price. Just today we visited a house in a really nice neighbourhood in Killester, relatively modern build. There was an open viewing for about 45 mins and during that time I would say around 20 couples visited the house while we were there. The asking price had already been exceeded with an offer above it.

Just wondering is anyone else having difficulty out there viewing or making offers on houses at the minute? Any advice for us newbies? Getting some updates from auctioneers but anticipate there will be a few disappointments along the way...

Cheers

handlemaster

I went to a viewing last year as I was saying in another posting. Dublin 15 about 13 couples there at that time house was listed at a reasonable price sold for around 15% more than asking.

ezra_pound

Start searching local auctioneers websites daily. Many houses don't advertise on my home or daft. I bought my house before the vendors put it on daft. That way at least you can get an offer down before the deluge. You'll still haevothers at viewings etc. But it will be quieter.

handlemaster

This is like a flash back to 2006

Cuddlesworth

handlemaster wrote: »

This is like a flash back to 2006

It so is though, wait for the flashback to 2009.

handlemaster

Like the UK market we will get property rises and falls. That's human psychology mixed with supply and demand.

Marchbride

ezra_pound wrote: »

Start searching local auctioneers websites daily. Many houses don't advertise on my home or daft. I bought my house before the vendors put it on daft. That way at least you can get an offer down before the deluge. You'll still haevothers at viewings etc. But it will be quieter.

Hi Ezra Pound would you mind sharing what auctioneers you looked at? As any ive looked at (Sherry Fitz, Wilson Moore, Lisney, Castle, Movehome) all seem to be on myhome and daft. No supply at all in last few weeks its depressing!

Glenbhoy

Marchbride wrote: »

Hi Ezra Pound would you mind sharing what auctioneers you looked at? As any ive looked at (Sherry Fitz, Wilson Moore, Lisney, Castle, Movehome) all seem to be on myhome and daft. No supply at all in last few weeks its depressing!

It's too early in the year for supply. The first two weeks of February will give you an indication as to where supply is going, but expect very little before then.

ezra_pound

Marchbride wrote: »

Hi Ezra Pound would you mind sharing what auctioneers you looked at? As any ive looked at (Sherry Fitz, Wilson Moore, Lisney, Castle, Movehome) all seem to be on myhome and daft. No supply at all in last few weeks its depressing!

Sorry late reply. I only saw this now. I kept an eye on Flynn Auctioneers. They seemed to do a lot of business in the Northeast raheny kilbarrack etc. Basically look out for signs in the area for small auctioneer signs who are doing a lot of business in the areas you're interested in. Any viewings you go to tell auctioneer that u are specifically interested in that area and ask them to inform you as soon as anything comes up.

Good luck.

That's Flynn Auctioneers Raheny by Tue way

Shedzafew

Some auctioneers will under-price houses on myhome/daft to generate more interest with no intension in selling for anything under the price + X. Leads to more people going to viewings under the impression that the house is within their price bracket. Allen & Jacobs are notorious for it.

Whilst there has been a significant increase in prices in the last 12 months this sort of carry on is contributing to houses being sold for 10-20% over the asking price.

Ray Palmer

Shedzafew wrote: »

Some auctioneers will under-price houses on myhome/daft to generate more interest with no intension in selling for anything under the price + X. Leads to more people going to viewings under the impression that the house is within their price bracket. Allen & Jacobs are notorious for it.

Whilst there has been a significant increase in prices in the last 12 months this sort of carry on is contributing to houses being sold for 10-20% over the asking price.

The fact you can now look up what houses sell for kind of does away with the whole reliance on EA asking prices. They always played the market with prices and everybody knows it so it's not some sneaky tactic just part of the process.

It works so it will remain.

Chazz Michael Michaels

handlemaster wrote: »

This is like a flash back to 2006

It's happening all over the country then? With mortgages freely available to all from banks?

handlemaster

Ray Palmer wrote: »

The fact you can now look up what houses sell for kind of does away with the whole reliance on EA asking prices. They always played the market with prices and everybody knows it so it's not some sneaky tactic just part of the process.

It works so it will remain.

I Dont think cash sales show

o1s1n

Marchbride wrote: »

Hi Ezra Pound would you mind sharing what auctioneers you looked at? As any ive looked at (Sherry Fitz, Wilson Moore, Lisney, Castle, Movehome) all seem to be on myhome and daft. No supply at all in last few weeks its depressing!

Myhome and Daft aren't worth a damn I've found. I watched them for ages and ages thinking that they were great and useful, but when I actually decided to go and view houses all the ones listed online were no longer available - even though they were listed as for sale.

Only way you're going to find anything right now is by contacting estate agents directly. Look at the listings in their window, get on their email list, ask them to let you know the moment something pops up in X price range in X location.

nellykelly

I have basically been searching for a house in West Dublin for the past year or so. I did come across some properties in late 2012 that in hindsight I should have jumped at. There was a slight lull in the market then and things were slower and a lot cheaper! Due to my hesitation and not wanting to take risks I missed the boat big time! Its my own fault that I sat on the fence for so long. Now it is virtually impossible to get anything. I agree with a lot of the above posts.There is panic buying going on. Huge numbers turning up to viewings especially in the price bracket up to 200,000. Not sure what the story is with anything over that price bracket. Properties are coming on stream that need huge amounts of work as in 100,000 worth of work, and are fetching huge amounts of cash! I don't get whats going on at all.Auctioneers are panicking people in the Dublin area.They tell you there are x amount of people to view a property and bids are coming in fast. I am not prepared to get involved in bidding wars. I think I may stay where I am living forever more!

handlemaster

nellykelly wrote: »

I have basically been searching for a house in West Dublin for the past year or so. I did come across some properties in late 2012 that in hindsight I should have jumped at. There was a slight lull in the market then and things were slower and a lot cheaper! Due to my hesitation and not wanting to take risks I missed the boat big time! Its my own fault that I sat on the fence for so long. Now it is virtually impossible to get anything. I agree with a lot of the above posts.There is panic buying going on. Huge numbers turning up to viewings especially in the price bracket up to 200,000. Not sure what the story is with anything over that price bracket. Properties are coming on stream that need huge amounts of work as in 100,000 worth of work, and are fetching huge amounts of cash! I don't get whats going on at all.Auctioneers are panicking people in the Dublin area.They tell you there are x amount of people to view a property and bids are coming in fast. I am not prepared to get involved in bidding wars. I think I may stay where I am living forever more!

Where in Dublin west were u looking ? Still three beds under 200k in D15

markpb

handlemaster wrote: »

I Dont think cash sales show

The PRSA list includes all properties sold regardless of payment method. AFAIK the CSO data only includes property sales financed by mortgage.

nellykelly

I was looking in the Lucan area, Celbridge and Leixlip. Some start around the 190 mark but as was said in a previous post it is to generate interest. Then it all goes crazy!

moxin

nellykelly wrote: »

I was looking in the Lucan area, Celbridge and Leixlip. Some start around the 190 mark but as was said in a previous post it is to generate interest. Then it all goes crazy!

3 bed semis on myhome under 200k right now:

Lucan - 7
Celbridge & Maynooth - 11


PPR in 2013, the following were sold in the range 150-200k for a a probable house price:

87 out of 344 total sales in Lucan fit the above criteria
22 out of 92 total sales in Leixlip fit the above criteria
33 out of 129 total sales in Maynooth fit the above criteria

You're telling us as an active buyer that you could not win a single bid on a single house out of approx 137 houses sold in those 3 areas in 2013?

Seriously?!

johnnyskeleton

moxin wrote: »

3 bed semis on myhome under 200k right now:

Lucan - 7
Celbridge & Maynooth - 11


PPR in 2013, the following were sold in the range 150-200k for a a probable house price:

87 out of 344 total sales in Lucan fit the above criteria
22 out of 92 total sales in Leixlip fit the above criteria
33 out of 129 total sales in Maynooth fit the above criteria

You're telling us as an active buyer that you could not win a single bid on a single house out of approx 137 houses sold in those 3 areas in 2013?

Seriously?!

As he says he didn't want to take a risk at the time, which is fair enough

nellykelly

johnnyskeleton wrote: »

As he says he didn't want to take a risk at the time, which is fair enough

Yes indeed I didnt take the risk at the time which I should have and now Im in limbo.Just wondering what to do now and is anyone else in the same situation.I was foolish not to have bought in earlier years

pitrn

going to view a 1 bed apartment this afternoon in D7. Its for renting purpose only. Let me see how I get on. any views any one?

pitrn

Any suggestions on what questions I should ask for a investment property?

gaius c

pitrn wrote: »

Any suggestions on what questions I should ask for a investment property?

Based on your two posts in this thread "where's the exit?" would be an excellent starting point.

moxin

nellykelly wrote: »

Yes indeed I didnt take the risk at the time which I should have and now Im in limbo.Just wondering what to do now and is anyone else in the same situation.I was foolish not to have bought in earlier years

Your anecdotals of "panic buying" in those 3 areas are falling flat as you have not been actively seeking to buy a place and there have been plenty of sales in your price bracket.

Will you be actually bidding on a place this year or will you still be on the fence?

Now it is virtually impossible to get anything

You can get something as evidenced by the sales history of the 3 areas in your price bracket but you're not exactly in the market to buy a house.

kennyb3

Got to agree with moxin here.

What about this, prob needs a new bathroom, an upgraded boiler and heating controls and some attic insulation (so €7k-€8k investment). Otherwise should be grand.

Or this, slightly over budget but worth seeing and bidding on?

or this?

I'd say there is a bit less choice than this time last year, but buying/selling season hasn't started and it's certainly not impossible to buy a 3 bed sub €200k where you want.

If they aren't in your preferred area's or in perfect condition, well then what you have to ask yourself is what are you going to do.

Make a compromise? Wait it out and hope prices fall back a bit? It really is up to you. Panicing certainly doesn't help. That's no frame of mind to be house hunting imho.

Also there is no boat, ladder or whatever else that you feel you missed.

How many properties have you viewed? How many have you bid on?

As Moxin showed your late 2012 comment doesn't tally with 2013 sales - if you were starting out now I think we'd be saying fair enough - it's hard, there is limited to feck all supply - but can you outline 2013 for us if you are going to be hysertical.

And €200k, 3 beds needing €100k of work? Funny, very funny! Me thinks you've been reading too many SCD threads.

beauf

You need to look at your reasons for buying in the first place.

If its in an area you always wanted to live in, suitable for your career or family. Or is it a stepping stone to something.

kennyb3

beauf wrote: »

Or is it a stepping stone to something.

Stepping stone? Sure what could possibly go wrong? That didn't work out too well for plenty of people.

My advice would be to buy somewhere your happy to live for 10-15 years at least. Then you can maybe re-assess your position. I certainly wouldn't be thinking any less than 5 years given the associated costs of buying and moving etc.

beauf

That why I ask.

cruais

Did you look around glasnevin and drumcondra areas? I know of one house in Drumcondra 3 bed which is slightly above your budget at 229k.

Not too much work either but location wise you would be on to a winner.

Marchbride

cruais wrote: »

Did you look around glasnevin and drumcondra areas? I know of one house in Drumcondra 3 bed which is slightly above your budget at 229k.

Not too much work either but location wise you would be on to a winner.

Would u mind putting up link to that?? I can't find it on my home?? Thank you

Winnie21

We are having the same problem too - every house we're interested in seems to have about ten other couples bidding on it and we are eventually outbid... has happened 3 times now. Now we are trying to decide whether to settle for a house & area we don't really want or whether to keep saving and wait it out ... that's hoping that eventually things settle and prices drop back which may never happen... it's very hard to know what to do.

pitrn

Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.

Read more: http://www.marketfolly.com/2009/09/top-25-warren-buffett-quotes.html#ixzz2tCZZbZbX