Dolbhad wrote: » I was contacted by an auctioneer on a house we viewed about 6 weeks ago. We didn’t put a bid in as once we viewed the place, we knew it would go over asking. It went 30k over asking. The purchasers have pulled out and auctioneer wanted to know would we go sale agreed for the asking price. I assume auctioneer rang all the parties who placed a bid first before us and they said no.
Eric Cartman wrote: » if you like it offer 20k under , not a mad under bid but something that makes it worth your while.
Dolbhad wrote: » Otherwise would have done something like that. auctioneer did say they are buying another house so need a certain price or otherwise they would just take the house off market.
Ozark707 wrote: » Surely the price the house they are buying will also drop now as well? Sounds like the EA is chancing his/her arm here.
Dolbhad wrote: » Our AIP has just expired and employment has been affected by Covid so sadly, we won’t be able to progress matters until back to work. Even then not sure will banks insist on 6 months payslips again which could push us further down the line. Otherwise would have done something like that. auctioneer did say they are buying another house so need a certain price or otherwise they would just take the house off market. I think house prices will drop but quality will decrease as sellers won’t put houses on market.
fliball123 wrote: » No I wouldn't say so I have seen it before if people don't get a price they have in their heads they pull the property till the market rises again and one thing you can be sure of as night follows day if prices drop over the next while they will rise again
Cyrus wrote: » er what, they are the same thing. 2013 was patently not a very busy year for sales compared to other 16 years around it.
dor843088 wrote: » Some houses bought in 2007 still havnt reached those highs .
JimmyVik wrote: » I think banks will be very reluctant to lend for a couple of years yet. They will be waiting to see if there is a second, third, fourth round of this virus and only when its clear there wont be will they lend. Each revisit of the virus might put more jobs at risk. Bonuses and salary increases are out for several years I bet. And I suspect salary reductions will be the first order of business for most companies when this all starts to get back to normal. This virus is not going away. The banks will be waiting to see.
Experience_day wrote: » Like I said previously in the thread, banks are going to close shop. People that think they will get a bargain are going to be surprised. Meanwhile the cash rich will get richer!
dor843088 wrote: » If we look at the market in very simple terms. Upside vs downside. The market has basically no upside apart from inflation as wages are not going to dramatically increase in even best case scenario and lending rules will keep a ceiling on prices. Downside could be as much as 40% in worst case scenario if we have mass unemployment /emigration etc. Anyone buying a house now should look at the risk reward . Huge risk no reward imo.
Mic 1972 wrote: » Less busy does not equal very low sales, you are clutching at straws now. If you are trying to prove that there was no movement in the market during recession you couldn't be further away from reality I was around the market in 2012-2013 when i bought my house, I remember attending some very busy viewings with 15-20 people in the house at the same time. The market started to pick up speed very quickly at the end of 2012. There was plenty of stock, a lot of cash buyers waited until prices hit rock bottom before re-entering the market
2013 House Price Report released today by property website Daft.ie. Dublin's double digit growth has seen the national average asking price rise over the course of a year for the first time since 2007.
"The tale of 2013 was definitely the lack of supply in sales, rental and shared accommodation in the capital. This lack of accommodation across all sectors has had a major influence in Dublin's asking prices returning to 2007 percentage increases," commented Daft.ie's Kieran Harte.
At less than 24,000, the total number of properties for sale is at its lowest point since February 2007. The biggest falls in availability are occurring outside Leinster: across Munster, Connacht and Ulster, there were 13,500 homes for sale in April 2016, compared to almost 21,000 two years previously.
Experience_day wrote: » For lots of people I would agree it would be a poor idea especially if they need mobility. Houses will be even less liquid instruments for a while... A family renting a house might say an expected 5 year recovery window is worth the risk of price drops. Or someone not planning on moving at all. Plenty of people bought in 2005 and never noticed the dip. But they did notice now that they 10 years left on their 25 year mortgage...
beauf wrote: » People remember things differently. You can look it up though. Found this from 2016https://www.thejournal.ie/daft-report-first-quarter-2016-2708010-Apr2016/
fliball123 wrote: » nope but they sure as sh1t went higher than 2010 - 2018 period. You only have to look at the history the bubble in the early naughties was an anomaly with prices doubling in a year and that is what happens when things like ps wage spikes up with things like benchmarking and credit is given away like confetti.
Mic 1972 wrote: » That's far from very few sales, that's thousands of sales taking pace in the middle of recession in one year alone
Hubertj wrote: » Whatever the reduction in prices ends up being how long will it take to get there before flattening out? Is it like 28 where it happened over 12-18 months? Or is the clown from a few pages back right and we will have the crash done in 3 months? Or am i asking how long a piece of string is?
Hubertj wrote: » Ooooh facts. Thank you. Do you know why land values would decrease in value so much more than property prices?
