Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

2021 Irish Property Market chat - *mod warnings post 1*

Options
1…139140142144145…352

Comments

  • Options
    #4232
    DataDude
    Registered Users Posts: 1,098 ✭✭✭DataDude


    schmittel wrote: »
    I suspect it might be causing increased bidding - value and volume - because people view it as less binding. i.e they know they can go sale agreed and pull out when they see the house if they spot something they don't like.

    Even though people have always been able to pull out after going sale agreed, i think the bids are likely to be firmer after physical viewings.

    Yeah I think this is almost certainly true. Find it hard to imagine a scenario where this doesn't lead to an increase in the percentage of sale agreed's falling through. That said, there's also likely to be a subset of properties which maybe went above where they would have gone in a normal setting, and even with some doubt creeping in upon viewing that maybe they've slightly overpaid, a buyer might be minded to proceed anyway?

    No experience of this, but I'd guess that going sale agreed and then taking the decision to pull the plug would be an emotional rollercoaster. Path of least resistance and all that...


  • Options
    #4233
    Reins
    Registered Users Posts: 111 ✭✭Reins


    DataDude wrote: »
    Yeah I think this is almost certainly true. Find it hard to imagine a scenario where this doesn't lead to an increase in the percentage of sale agreed's falling through. That said, there's also likely to be a subset of properties which maybe went above where they would have gone in a normal setting, and even with some doubt creeping in upon viewing that maybe they've slightly overpaid, a buyer might be minded to proceed anyway?

    No experience of this, but I'd guess that going sale agreed and then taking the decision to pull the plug would be an emotional rollercoaster. Path of least resistance and all that...


    Originally Posted by Webster29 View Post

    I'm currently selling and finding the process just as frustrating as buyers. I wouldn't trust someone bidding without seeing. You only ever buy a property if you can get a feel for it and see yourself living there. I would assume anyone who bids up will try to pull out or renegotiate once they see real life. I'd be fairly sure some of these bids are just people looking to be higher up the EAs list once viewings commence without making any real commitment.

    (my reply was)

    Couldn't agree more with you and I've posted about this being a nightmare for vendors.

    An estate agent I know had 2 sales fall through last week within an hour of each other.
    The scenario you suggest is what happened (imo)in the one I've mentioned.


  • Options
    #4234
    hometruths
    Registered Users, Subscribers Posts: 5,802 ✭✭✭hometruths


    DataDude wrote: »
    Yeah I think this is almost certainly true. Find it hard to imagine a scenario where this doesn't lead to an increase in the percentage of sale agreed's falling through. That said, there's also likely to be a subset of properties which maybe went above where they would have gone in a normal setting, and even with some doubt creeping in upon viewing that maybe they've slightly overpaid, a buyer might be minded to proceed anyway?

    No experience of this, but I'd guess that going sale agreed and then taking the decision to pull the plug would be an emotional rollercoaster. Path of least resistance and all that...

    Totally agree it will lead to both increased sales falling through and increased prices.

    We're weighing this up at the moment from a sellers point of view. It's not easy from either side!


  • Options
    #4235
    Hubertj
    Registered Users Posts: 2,000 ✭✭✭Hubertj


    MacronvFrugals wrote: »
    The scenery is out of this world, the house reminds me of the hotel from The Shining

    It’s a beautiful part of the country. That house is close to parknasilla. Very nice pace to life down there.


  • Options
    #4236
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    Villa05 wrote: »
    How was it one sided
    He had a developer, mortgage broker renters, owners etc
    What relevant party was missing

    Of course there is more competition, we are the country that keeps on giving to private business so much so that less than a 1/3 of new builds were made available for sale to the general public.
    The general public can't compete against an entity that pays no tax and has access to free money and also government who are buying with taxes raised from workers priced out of the market

    You might point me to a "leftie" politician that supports current housing policy
    Even FG councillors are opposing shared equity
    Buying existing housing in premium estates for social affordable is loose loose for everyone except developers
    Taxpayer as the cost is far greater
    Public as 4 to 5 houses could be provided for what the state is paying
    The recipient as they are distanced from their support groups and often isolated from their neighbours

    And not one of them was of the opinion there was no bubble, that is what the debate was about it was one sided they had no representation and were misleading in factual data. If they had someone on who believed we are not in a bubble they could of took him to task straight away with his absolute nonsense about credit not having anything to do with the bubble in 08.


  • Advertisement
  • Options
    #4237
    Cyrus
    Registered Users Posts: 19,826 ✭✭✭✭Cyrus


    schmittel wrote: »
    I think the regular "not going to happen 2021, so its irrelevant" comments are a bit tedious.

    i think the endless crystal ball gazing many years into the future in a thread that is titled 2021 Irish Property market chat is a bit tedious.


  • Options
    #4238
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    schmittel wrote: »
    I think the regular "not going to happen 2021, so its irrelevant" comments are a bit tedious.

    Mod Note

    in which case please read the thread title again.

    Feel free to start a separate thread if necessary.


  • Options
    #4239
    Yurt2
    Registered Users Posts: 9,381 ✭✭✭Yurt2


    cnocbui wrote: »
    Why? What is the problem?


    Nothing Cnocbui. It's all a big communist conspiracy. Everything's fine, go back to bed.


  • Options
    #4240
    hometruths
    Registered Users, Subscribers Posts: 5,802 ✭✭✭hometruths


    Graham wrote: »
    Mod Note

    in which case please read the thread title again.

    Feel free to start a separate thread if necessary.

    No need to read it again. I started the thread and wrote the title.


  • Options
    #4241
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    schmittel wrote: »
    No need to read it again. I started the thread.

    changes nothing.


  • Advertisement
  • Options
    #4242
    hometruths
    Registered Users, Subscribers Posts: 5,802 ✭✭✭hometruths


    So we can post prices are high/will go up in 2021 because supply is tight and that's OK because it is currently 2021?

    But posting supply is tight in 2021 because X, Y, Z and that will change in future is not OK because the future is not 2021?


  • Options
    #4243
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    schmittel wrote: »
    So we can post prices are high/will go up in 2021 because supply is tight and that's OK because it is currently 2021?

    But posting supply is tight in 2021 because X, Y, Z and that will change in future is not OK because the future is not 2021?

    You dont know if its going to change in the future no one does thats the point. Statments like what you said to me stating that the properties currently not available on the market that are empty will be put on the market soon..How do you know??


  • Options
    #4244
    hometruths
    Registered Users, Subscribers Posts: 5,802 ✭✭✭hometruths


    fliball123 wrote: »
    You dont know if its going to change in the future no one does thats the point

    I know with absolute certainty that the current framework of taxes and legislation will change in the future. Some of it will change in 2021. Some in 2022. Some in 2023 and so on and so on.

    And that was the point I was replying to.


  • Options
    #4245
    hometruths
    Registered Users, Subscribers Posts: 5,802 ✭✭✭hometruths


    fliball123 wrote: »
    You dont know if its going to change in the future no one does thats the point. Statments like what you made to me stating that the properties currently not available on the market that are empty will be put on the market soon..How do you know??

    Did I say soon or did I say "at some stage"?
    schmittel wrote: »
    There are hundreds of thousands of residential properties that are not "part of the current supply for one reason or another".

    But they do exist. At some stage they will become part of the current supply for one reason or another.

    I know they will come to the market at some stage because they are not going to vanish into thin air.


  • Options
    #4246
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    schmittel wrote: »
    Did I say soon or did I say "at some stage"?



    I know they will come to the market at some stage because they are not going to vanish into thin air.

    How do you know? Could they be demolished for new builds, could the room over the shops be used by a shop keeper for storage?? You dont know. There must be some reason why they are not up for sale at present


  • Options
    #4247
    hometruths
    Registered Users, Subscribers Posts: 5,802 ✭✭✭hometruths


    fliball123 wrote: »
    How do you know? Could they be demolished for new builds, could the room over the shops be used by a shop keeper for storage?? You dont know. There must be some reason why they are not up for sale at present

    They are not on the market for sale or rent at moment principally because of the current tax and legislative framework.


  • Options
    #4248
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    No one know what gonna happen in 2-3 months time ,not ECB,not other central banks and experts ! Only expectations which each time getting changed by situation.We expecting 3 per cent GDP rise in this year,2 months after they says,Oh,sorry,wrong,this will be below,so 1.5 per cent .
    But nearly everybody here know that property prices in Ireland will be only rising.
    Stunning ! Were are you getting knowledge from ?
    I just reading what some of you are talking about and cant understand were you getting 100 per cent trustfully information about property will only rising and not falling !?


  • Options
    #4249
    Timing belt
    Registered Users Posts: 3,418 ✭✭✭Timing belt


    schmittel wrote: »
    Did I say soon or did I say "at some stage"?



    I know they will come to the market at some stage because they are not going to vanish into thin air.

    Just maybe they are coming back to the market as we speak and other properties are becoming vacant and we always have a stock of vacant properties....just maybe that part of our property market works like the rest of the world.


  • Options
    #4250
    hometruths
    Registered Users, Subscribers Posts: 5,802 ✭✭✭hometruths


    Timing belt wrote: »
    Just maybe they are coming back to the market as we speak and other properties are becoming vacant and we always have a stock of vacant properties....just maybe that part of our property market works like the rest of the world.

    Just maybe you didn't read, or understand, the point in question.
    schmittel wrote: »
    There are hundreds of thousands of residential properties that are not "part of the current supply for one reason or another".

    But they do exist. At some stage they will become part of the current supply for one reason or another.

    And when that happens, you will have your oversupply.

    Vacancy is one reason. There are many others, precisely because our property market does not work like the rest of the world.

    Just maybe.


  • Options
    #4251
    Cyrus
    Registered Users Posts: 19,826 ✭✭✭✭Cyrus


    schmittel wrote: »
    I know with absolute certainty that the current framework of taxes and legislation will change in the future. Some of it will change in 2021. Some in 2022. Some in 2023 and so on and so on.

    And that was the point I was replying to.

    Given you have absolute certain you are you absolutely certain it will have an impact on the 2021 property market ?


  • Advertisement
  • Options
    #4252
    Cyrus
    Registered Users Posts: 19,826 ✭✭✭✭Cyrus


    [Deleted User] wrote: »
    No one know what gonna happen in 2-3 months time ,not ECB,not other central banks and experts ! Only expectations which each time getting changed by situation.We expecting 3 per cent GDP rise in this year,2 months after they says,Oh,sorry,wrong,this will be below,so 1.5 per cent .
    But nearly everybody here know that property prices in Ireland will be only rising.
    Stunning ! Were are you getting knowledge from ?
    I just reading what some of you are talking about and cant understand were you getting 100 per cent trustfully information about property will only rising and not falling !?

    Who is saying property prices are only rising ?


  • Options
    #4253
    Timing belt
    Registered Users Posts: 3,418 ✭✭✭Timing belt


    schmittel wrote: »
    Just maybe you didn't read, or understand, the point in question.



    Vacancy is one reason. There are many others, precisely because our property market does not work like the rest of the world.

    Just maybe.

    Just maybe we do have a housing crisis and you are wrong when you say we don’t....just maybe


  • Options
    #4254
    Cyrus
    Registered Users Posts: 19,826 ✭✭✭✭Cyrus


    Timing belt wrote: »
    Just maybe we do have a housing crisis and you are wrong when you say we don’t....just maybe

    Schmittel appears to be working off the assumption that he is a lot smarter than the rest of us , if his point makes no sense it’s because we don’t understand not that he could be incorrect.


  • Options
    #4255
    cnocbui
    Registered Users Posts: 19,867 ✭✭✭✭cnocbui


    schmittel wrote: »
    They are not on the market for sale or rent at moment principally because of the current tax and legislative framework.

    Could you please detail the tax and legislative framework elements that disuade or prevent these going to market? What you assert is too vague for me to establish precisely what you mean or allege.


  • Options
    #4256
    hometruths
    Registered Users, Subscribers Posts: 5,802 ✭✭✭hometruths


    Cyrus wrote: »
    Given you have absolute certain you are you absolutely certain it will have an impact on the 2021 property market ?

    The historic framework, current framework and future framework is already having an impact on the 2021 property market and will continue to do so. I am certain of that.


  • Options
    #4257
    hometruths
    Registered Users, Subscribers Posts: 5,802 ✭✭✭hometruths


    Cyrus wrote: »
    Schmittel appears to be working off the assumption that he is a lot smarter than the rest of us , if his point makes no sense it’s because we don’t understand not that he could be incorrect.

    What part of what we're discussing makes no sense:
    There are hundreds of thousands of residential properties that are not "part of the current supply for one reason or another".

    But they do exist. At some stage they will become part of the current supply for one reason or another.


  • Options
    #4258
    hometruths
    Registered Users, Subscribers Posts: 5,802 ✭✭✭hometruths


    Timing belt wrote: »
    Just maybe we do have a housing crisis and you are wrong when you say we don’t....just maybe

    I don't believe I have ever said we do not have a current housing crisis. But no doubt you'll correct me if I am wrong.


  • Options
    #4259
    Cyrus
    Registered Users Posts: 19,826 ✭✭✭✭Cyrus


    schmittel wrote: »
    The historic framework, current framework and future framework is already having an impact on the 2021 property market and will continue to do so. I am certain of that.

    How is a future undefined framework impacting the current market ?


  • Options
    #4260
    Hubertj
    Registered Users Posts: 2,000 ✭✭✭Hubertj


    schmittel wrote: »
    No need to read it again. I started the thread and wrote the title.

    If you started the thread can you change the title?


  • Advertisement
  • Options
    #4261
    Cyrus
    Registered Users Posts: 19,826 ✭✭✭✭Cyrus


    schmittel wrote: »
    What part of what we're discussing makes no sense:

    Your certainty that these properties will come to the market in the future , you have no way of knowing if they will or not or if the level will remain consistent.

    And anyway it has no relevance to this thread .


This discussion has been closed.
Advertisement