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Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

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  • Registered Users Posts: 781 ✭✭✭Dolbhad


    Dav010 wrote: »
    The seller won’t sell?


    I think that’s it. Some sellers may be happy to wait it out and not much you can to.


  • Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    givyjoe wrote: »
    And if no one is willing to pay the price the seller wants, what does that tell you? It's fairly simple.

    That no one is willing to pay it now. Might be at some other time though.

    Isn't that why people waited till out of negative equity to sell. Even if it took years.

    There was a bungalow near me I was watching for the folks to downsize. But they were looking for a crazy price, on the market for must be 3yrs. Eventually sold though. I wouldn't deal with someone that stubborn personally.

    People will put value on very subtle things when it comes to property.


  • Registered Users Posts: 15,811 ✭✭✭✭Spanish Eyes


    A neighbour up the road from me put house up for X. We all snorted. It lingered for five months, and then was reduced by wait for it....45k all noted on the website with the arrow down thinggys.

    Sold within a month. Of course sellers can be precious. But realism bites. Good time to buy IMO. And sellers have to be realistic nowadays too. As do tyre kicking viewers who think they will get the bargain of the century.

    Apart from one off houses, there is usually a ceiling price for an area. I always keep that in mind.


  • Registered Users Posts: 152 ✭✭JamesMason


    A neighbour up the road from me put house up for X. We all snorted. It lingered for five months, and then was reduced by wait for it....45k all noted on the website with the arrow down thinggys.

    Sold within a month. Of course sellers can be precious. But realism bites. Good time to buy IMO. And sellers have to be realistic nowadays too. As do tyre kicking viewers who think they will get the bargain of the century.

    Apart from one off houses, there is usually a ceiling price for an area. I always keep that in mind.
    Reality bites indeed.


  • Closed Accounts Posts: 18,958 ✭✭✭✭Shefwedfan


    beauf wrote: »
    That no one is willing to pay it now. Might be at some other time though.

    Isn't that why people waited till out of negative equity to sell. Even if it took years.

    There was a bungalow near me I was watching for the folks to downsize. But they were looking for a crazy price, on the market for must be 3yrs. Eventually sold though. I wouldn't deal with someone that stubborn personally.

    People will put value on very subtle things when it comes to property.

    Moral of story is the seller was right and got the price they wanted


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  • Registered Users Posts: 1,560 ✭✭✭Umaro


    I'd hate to have wait 3 years to prove I was right.


  • Registered Users Posts: 152 ✭✭JamesMason


    Umaro wrote: »
    I'd hate to have wait 3 years to prove I was right.
    Or to wait 3.5 years until you realise that you've missed the boat.


  • Registered Users Posts: 3,287 ✭✭✭givyjoe


    Shefwedfan wrote: »
    Moral of story is the seller was right and got the price they wanted

    Ha. Good one. What do you reckon actually happened! Over 3 years the prices rose to finally meet the originally over inflated asking price.


  • Registered Users Posts: 13,718 ✭✭✭✭Dav010


    givyjoe wrote: »
    Ha. Good one. What do you reckon actually happened! Over 3 years the prices rose to finally meet the originally over inflated asking price.

    Welcome to the property market. Prices rise and fall, some buyers are willing to pay more than others if they want a particular property, some people need to sell and will accept the highest offer, others don’t need to sell and have no problem waiting for the price they want. Ce la vie.


  • Registered Users Posts: 3,287 ✭✭✭givyjoe


    Dav010 wrote: »
    Welcome to the property market. Prices rise and fall, some buyers are willing to pay more than others if they want a particular property, some people need to sell and will accept the highest offer, others don’t need to sell and have no problem waiting for the price they want. Ce la vie.

    Seriously, are you not reading my posts? Are you determined to go round and round in a fruitless attempt to disprove the blindingly obvious? If NO ONE is willing to pay the asking price, then it isn't worth the asking price.


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  • Registered Users Posts: 13,718 ✭✭✭✭Dav010


    givyjoe wrote: »
    Seriously, are you not reading my posts? Are you determined to go round and round in a fruitless attempt to disprove the blindingly obvious? If NO ONE is willing to pay the asking price, then it isn't worth the asking price.

    I can see you are getting agitated, so I’ll have another go at explaining my point.

    If a house does not sell today, then it is not worth the asking price. But tomorrow a higher bid might come in, so it will be worth more tomorrow than it was today because someone offers more for it. Next month someone might offer 10k more, so the value on the house is 10k higher than it was when the previous bidder bid. Some sellers are happy to wait and see how high the value will rise, or whether it will reach their valuation. So be it, if you can afford to wait, why sell today for less when you might well get more for it in 3 or 6, or even 12 months?


  • Registered Users Posts: 3,287 ✭✭✭givyjoe


    Dav010 wrote: »
    I can see you are getting agitated, so I’ll have another go at explaining my point.

    If a house does not sell today, then it is not worth the asking price. But tomorrow a higher bid might come in, so it will be worth more tomorrow than it was today because someone offers more for it. Next month someone might offer 10k more, so the value on the house is 10k higher than it was when the previous bidder bid. Some sellers are happy to wait and see how high the value will rise, or whether it will reach their valuation. So be it, if you can afford to wait, why sell today for less when you might well get more for it in 3 or 6, or even 12 months?
    Honestly, I can only assume you're on the wind up.


  • Closed Accounts Posts: 18,958 ✭✭✭✭Shefwedfan


    givyjoe wrote: »
    Ha. Good one. What do you reckon actually happened! Over 3 years the prices rose to finally meet the originally over inflated asking price.

    I guess they wanted to sell their house, they sold it...happy days


  • Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    givyjoe wrote: »
    Seriously, are you not reading my posts? Are you determined to go round and round in a fruitless attempt to disprove the blindingly obvious? If NO ONE is willing to pay the asking price, then it isn't worth the asking price.

    Give it 20yrs...


  • Registered Users Posts: 1,560 ✭✭✭Umaro


    If you put a house up at 300k and receive bids under that amount for 3 YEARS then the initial asking price was off.


    In real terms the vendor lost money for being stubborn. 300k in 2019 has the same spending power that 293k had in 2016:
    The % change in the CPI from Dec 2016 to Dec 2019 is 2.4%.

    A basket of goods and services that cost €293,060 in Dec 2016 would have cost €300,010.04 in Dec 2019.
    - CPI

    Talk about cutting off your nose to spite your face.


  • Registered Users Posts: 3,425 ✭✭✭ZX7R


    I think what people are missing one point, about house's not shifting quickly during the second half of last year,there was plenty of uncertainty with Brit exit ect,
    But the main point was a 10% drop in Price's was predicted it didn't happen , I believe buyer's were hoping for this drop and are in the mind set it will still drop,
    A lot of the heavy hitters In the economy market that were predicted that drop are backing away from the perdition most are now saying prices will rise and are currently rising again .
    I believe you will see a lot of second hand house's selling in the next 3 months.


  • Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    I was surprised how quick some have sold.


  • Registered Users Posts: 23,061 ✭✭✭✭mickdw


    I genuinely think it's nuts that people are seeing good value in average houses needing work at 530k.
    We are at the same point again as the last collapse.


  • Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    Depends on the house and the location.


  • Registered Users Posts: 651 ✭✭✭Nika Bolokov


    Bought and sold in the last 12 months.

    Towards the end of the year buyers would by default offer up to 10% below asking even if the asking was reasonable and the house in good condition etc. Would follow up with take it or leave it when the offer was rejected.

    Sellers would hang on and now as reality dawns on buyers that there is very little supply those who hung on for higher prices are being rewarded.

    Sellers with good hpuses seemed to develop the view that prices were soft so didn't put the house on the market hence the amount of crap out there.


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  • Registered Users Posts: 5 Fafa123


    Took us 18 months to get a buyer for our house in south dublin, we dropped price dramatically over that time, finally got a buyer and have been 4 months sale agreed, hoping to close in next few weeks, we also went sale agreed to buy another house, found that process alot easier then selling. Never moving again after this lol all in all be a 2 year process when done but we were unlucky


  • Registered Users Posts: 445 ✭✭ebayissues


    The amount of crazy bids being offered is astonishing. A house I was looking at in d3, someone offered >340k. Big garden, okay location but still.


  • Registered Users Posts: 7,442 ✭✭✭fliball123


    A lot of sellers are holding off and are now renting out the property instead of selling with the 100% mortgage interest relief on a rental property you can have someone in there paying your mortgage while you move to a new house. So that is also starving supply. I think prices will stay put for the next year and with certainty on Brexit and once the G.E is done with and the goodies thrown at first time buyers come in then prices will go up. All parties are throwing money at FTBs and this raises prices. That is historically the case.


  • Registered Users Posts: 2,831 ✭✭✭Sweet.Science


    Hi
    Some advice needed
    Im looking to sell and buy this year
    If i hire and estate agent to sell but it doesnt get the figure i need to buy do i still have to pay the estate agent fee?
    thanks


  • Registered Users Posts: 6,344 ✭✭✭Thoie


    Hi
    Some advice needed
    Im looking to sell and buy this year
    If i hire and estate agent to sell but it doesnt get the figure i need to buy do i still have to pay the estate agent fee?
    thanks

    They usually ask for an amount up front for advertising/administration. They take the rest of their fee (usually a percentage of the sale) when the sale is agreed/goes through. So you'll have to pay the up front fee, but if the house doesn't sell you may not need to pay the percentage fee - check the contract with them before signing.

    I was in a similar situation a few years ago - I could only sell if I got a minimum of €x. I was up front with the estate agent and explained that I wouldn't be moving if I didn't get a minimum amount. They were OK with that, as long as your minimum is realistic. If everything else locally is selling for €100k, and your minimum is €500k they might not want to take it on.


  • Registered Users Posts: 445 ✭✭ebayissues


    Beginning to see more houses pop up arround D3/D5, some definitely IMO overpriced.


  • Registered Users Posts: 185 ✭✭Highcontrast1


    Hi
    Some advice needed
    Im looking to sell and buy this year
    If i hire and estate agent to sell but it doesnt get the figure i need to buy do i still have to pay the estate agent fee?
    thanks

    <SNIP> have a fixed fee and i think you can set your reserve.


  • Registered Users Posts: 1,429 ✭✭✭Woshy


    ebayissues wrote: »
    Beginning to see more houses pop up arround D3/D5, some definitely IMO overpriced.

    No houses on the market where we are looking. Deposit sitting in the bank, mortgage approved and no houses to even go view. I'm hoping some will get put up for sale too, even if the asking price seems high!


  • Registered Users Posts: 2,347 ✭✭✭Sono


    Looking to sell and buy this year in D13, had estate agent out last week and was shocked at the value he placed on it, have looked at Raheny as a place to move to but the stock is either in bits or way over priced and require work.


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  • Registered Users Posts: 13,718 ✭✭✭✭Dav010


    Sono wrote: »
    Looking to sell and buy this year in D13, had estate agent out last week and was shocked at the value he placed on it, have looked at Raheny as a place to move to but the stock is either in bits or way over priced and require work.

    Shocked in a good or bad way?


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