Have Sherry Fitzgerald gone mad?

Fratton Fred

Terraced 85m house in Wolverton Glen, €575k, Village gate, Dalkey, €650k.

Obviously Sherry Fitz missed the whole burst bubble negative equity thing.

Larbre34

Why? When they sell at those prices (which they will) its hardly a bad thing for them. Estate agents have little or nothing to do with credit.

Fratton Fred

Larbre34 wrote: »

Why? When they sell at those prices (which they will) its hardly a bad thing for them. Estate agents have little or nothing to do with credit.

I genuinely hope they don't go for those prices. But then, there are plenty of fools who just can't wait to be parted with their money.

If you look at online property sites, all the Sherry Fitz properties are overpriced. They are trying to create the sort of panic buying mentality they did six years ago.

Castlepark residence is a good example. A two bed there jumped from *€395 to €465 and then down to €335 in the space of a week.

It looks to me as though they are manipulating the market.

Larbre34

I take your point that they are not without sin, but the dynamics of the local market are creating the situation. There is pent up demand, there is desirability, there are premium homes which always make that bit more than a similar gaff in another area.

Look at it this way, if you wanted to sell your house tomorrow, maybe to downsize or retire to the Algarve, you would go to the agent that ensured the best return for you, not one who came over all moralistic and advised you to keep the price down as he didnt want to be responsible for fuelling a bubble.

If someone has the cash in their pocket to buy these places then good luck to them, if however some bank thinks that John and Jane middle income should be extended credit to buy it, thats where the problem is. The number of cash buyers is finite, I do think this particular south Dublin bubble will cool in the next 18 months as the rest of the market catches up to near normality.

ted1

They have a duty to their customer (the seller) to get the best price. If people are willing to pay it then so be it.

eclectichoney

Fratton Fred wrote: »

I genuinely hope they don't go for those prices. But then, there are plenty of fools who just can't wait to be parted with their money.

If you look at online property sites, all the Sherry Fitz properties are overpriced. They are trying to create the sort of panic buying mentality they did six years ago.

Castlepark residence is a good example. A two bed there jumped from *€395 to €465 and then down to €335 in the space of a week.

It looks to me as though they are manipulating the market.

Re castlepark residence - 465 was actually for the 3 beds - my guess is they sold out and reverted the price back to the 2 beds

porsche959

The estate agent acts for the seller, not the purchaser. Therefore if they secure a high price they are doing their job.

Fratton Fred

porsche959 wrote: »

The estate agent acts for the seller, not the purchaser. Therefore if they secure a high price they are doing their job.

I'm obviously more cynical than you. I tend to believe estate agents are only interested in lining their back pockets.

Seaswimmer

Fratton Fred wrote: »

I'm obviously more cynical than you. I tend to believe estate agents are only interested in lining their back pockets.

Well I think Lisney are far worse. Almost everything goes for auction with ridiculously low AMV's to entice people in.

Leslie91

The property scene in Sth Dublin has gone mad again, it's celtic tiger all over again. No supply and lots of pent up demand mean properties are selling for crazy numbers. That's economics for you unfortunately. If u own a property in the area and can/want to seel you can make out like a bandit right now.

Fratton Fred

Seaswimmer wrote: »

Well I think Lisney are far worse. Almost everything goes for auction with ridiculously low AMV's to entice people in.

Yeah, I've seen a bit of that as well.

Can't rember who the agent was, but I remember an apartment in Coliemore going on myhome for around €200k and being sold for €400.

ted1

Fratton Fred wrote: »

Yeah, I've seen a bit of that as well.

Can't rember who the agent was, but I remember an apartment in Coliemore going on myhome for around €200k and being sold for €400.

I actually looked at the apartment, the MC fee was over 3,000 a year :eek: that's why i reckon it was priced so low.

ted1

Actually, I made a mistake, its just under 6k a year

http://photos.myhome.ie/media/3/6/5/2775563/d59c9a7e88.pdf

Fratton Fred

ted1 wrote: »

Actually, I made a mistake, its just under 6k a year

http://photos.myhome.ie/media/3/6/5/2775563/d59c9a7e88.pdf

Good lord. I'd want house keeping and breakfast in bed included for that.

Grid.

Crazy money for Wolverton Glen, they're like pigeon boxes!!:rolleyes: