Eric Cartman wrote: » or what if those buying now are leveraging a modest 5-10% drop because the central banks might undertake massive QE which will cause inflation and prices go nowhere making those buyers shrewd. its absolutely not an empathetic answer at all, but with all the elderly people dying, if you found a house where an elderly person was living and their kids were now out of work / fearful of the economy , id say they'd bite your hand off for 90% of asking.
Cyrus wrote: » this seems punchyhttps://www.myhome.ie/residential/brochure/6-strand-street-skerries-county-dublin/4415865 Looking for a developer to buy obviously.
The_Conductor wrote: » Fecking hell- 975k and its in Skerries. Its a really long site- and its overlooked by at least 5 neighbouring properties. You're not going to get permission to do anything with this- the neighbours would tie up any proposed development in red tape until Armageddon. House itself looks like something that was tastefully decorated in the late 1970s. Its tidy and clear, but by God its dated. I could be wrong- but I'd be shocked if this shifts without a massive reduction in its asking.
Eric Cartman wrote: » its absolutely not an empathetic answer at all, but with all the elderly people dying, if you found a house where an elderly person was living and their kids were now out of work / fearful of the economy , id say they'd bite your hand off for 90% of asking.
Adelyn Late Sportsmanship wrote: » If you're a second time buyer, can you avail of the HTB scheme for new builds?
SozBbz wrote: » Whilst acknowledging this is a bit dark, its probably true. Most of the fatalities are older people and a lot of them are homeowners. However, nothing in property happens quickly in Ireland, so the houses belonging to those who have passed due to Covid 19 probably wouldn't be in a position to be sold for many months. The probate process is lengthy enough during normal times, and I imagine it will be delayed due to most govt offices being closed or working at a reduced capacity. While I think probate sellers are most likely to take an offer for a quick sale (less emotionally involved if its not your own home) and also many homes are sold to be split between a number of siblings and also subject to inheritance tax so when all that is factored in, the amount a frop costs each individual might not seem much. One thing however is that a lot of elderly peoples homes need substantial renovations and not all buyers have the stomach for it. There might be an even greater premium to be paid for well kept homes, especially if new builds stop coming on stream.
The_Conductor wrote: » If you're going down that road- you'll also have to consider that any residents of nursing homes who availed of the 'Fair Deal' scheme will also have to pay up to 22.5% of the value of the property to the HSE........ If the property is having a haircut- and 22.5% of the value is also going elsewhere- people might be tempted to wait it out..........
fliball123 wrote: You have smaller landlords these guys in my opinion are the ones that may be in trouble. The fact is the small landlord has been getting out of the game for the last 5/6 years with the punitive tax rates and crazy tenant laws that means they are a sucker for any tenant who wants to act the b0ll0x. They may be the ones who will take the hair cut but then again they also have the option of just renting through this period so unless the gun is to their head they will not sell either.
fliball123 wrote: You have people up-sizing/downsizing - There may be some activity here but with corona putting a go slow on EAs, Banks, solicitors, Movers, Tilers, Sparks, Plumbers, Painters, etc...why the hell would you move now?
fliball123 wrote: You have Reits and investment funds and large private landlords who if they move now will not get their money back , rents have not dropped by much an by renting they get a steady income and and afford to wait. Why would you crystallize your losses??
nerrad01 wrote: » I just got confirmation from my broker that the banks she deals with have all pulled exemptions across the board. I know a previous poster said they had just got one with kbc, but i imagine once you get beyond approval in principle it would be hard to get the exemption over the line.
Dylan94 wrote: » Looking at every price chnage that occurred MyHome.ie over the past 5 days the average asking price has fallen by 10.36%. While asking prices =/= selling prices, its a strong indication that prices will fall by a minimum of 10%.
pearcider wrote: » I posted a few days ago that JP Morgan were significantly tightening credit requiring 20% deposits at a minimum for homebuyers. Won’t be long before our banks follow suit and begin implementing the 20% rule for FTBs which was stupidly reversed by the central bank in 2016 under pressure by the shortsighted property industry who wished to reflate the bubble at any costs. This is a good thing as it will eventually give the market resilience and more importantly give breathing space to households now suffering reduced real incomes.
Villa05 wrote: » In the real world most people can't afford a 3 bed house in Dublin
GreeBo wrote: » Other of course than all those people living in a 3 bed house in Dublin.
Hubertj wrote: » i just took a look and didn't see many in Dublin reducing by more than 10%. Can you clarify?
8-10 wrote: » I disagree, I really don't see them increasing it to 20% for FTB's anytime soon
Dwarf.Shortage wrote: » It's a disingenuous post to start with, the 20% was only on the excess above €300k so on a €400k house 12.5% deposit, on a €500k house a 14% deposit etc. Even if the old system is brought back FTBs won't be asked for a 20% deposit.
Hubertj wrote: » so its 10% up to 300k and 20% of anything above 300k?
Claw Hammer wrote: » To produce that logic to its ultimate conclusion, why give mortgages at all? Why not make people save up the full price?
