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Now Ye're Talking - to Ciarán from Crazyhouseprices

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  • 23-05-2022 2:44pm
    #1
    Boards.ie Employee Posts: 12,597 ✭✭✭✭✭
    Boards.ie Community Manager


    Our AMA guest today is Ciarán from the well known Instagram (and Twitter) pages, crazyhouseprices. With the ongoing housing crisis and a very hot property market right now for both buying and renting, Ciarán shares some of the more crazy properties being offered out there - crazy for the wrong reasons. He's here to answer your questions about crazyhouseprices and his thoughts on the property market. 

    Ciarán will be online later today to answer some questions but I am getting things started now so that there are a few questions for him by the time he logs in, he will have limited time to post answers. Thanks all :)

    Post edited by Boards.ie: Niamh on


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Comments

  • Moderators, Sports Moderators, Regional West Moderators Posts: 6,773 Mod ✭✭✭✭connemara man


    Soooo how fecked are we????



  • Posts: 8,856 ✭✭✭ [Deleted User]


    Are the mega landlords who have 1000s of houses on their books and are often found having bought up whole estates and apartment blocks be the key reason why home ownership is greatly reduced right now?

    Given the economy, the shortage of skills etc Will the housing supply ever again meet or out strip demand or will it always be too many people chasing too few houses?



  • Registered Users Posts: 340 ✭✭DFB-D


    It seems to me that when EAs show bids received (eg online system) prices and activity is far less than on similar properties without a bidding system.

    Any thoughts on this, are EA's falsely creating hype on properties?



  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán


    Very 😭



  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán


    I'm not sure, to be honest, those questions are above my knowledge level. The (very) pro "supply supply supply" economists seem to think we would be even worse off without those multi billion dollar investment funds that are buying up everything, as they are the only ones who have pockets deep enough for the large BTR developments. But when they're charging €2,800/month for a 2 bed apt, I can't see how they're of any benefit...



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  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán


    Sometimes, those systems (e.g. Offr) only show 2 most recent bids and 1 previous one. So only ever 3 shown. Could this be what you mean?


    Others show each and every bid (e.g. Sherry Fitz system) while others only show the current highest. So I guess it just depends which system they use.


    I'm not sure EAs even need to create false hype, to be fair, as supply is so restricted everywhere. I do think, however, that the entire bidding system here needs a complete overhaul. There's so little transparency and it is very open to manipulation with fake bids, etc.



  • Registered Users Posts: 4,545 ✭✭✭jj880


    Many builders now quoting labour only prices. What can the government do to tackle material costs?



  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán


    I'm finding this inflation with builders are bit perplexing.... I'm just coming towards the end of a complete renovation of our 1920s ex council house. Stripped everything back to the brick and re-did everything, it'll be an A3 BER. My builder's quote is from September and his prices haven't increased at all.


    But I am hearing everywhere that builders are increasing their prices, some by 10% per month! So I don't really know... I suspect a lot of it is just gouging!



  • Registered Users Posts: 301 ✭✭waterfordgirl


    Ciarán, you're a legend!! Working harder for us first time buyers than any of our elected representatives IMO - fair play and thanks 😀



  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán




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  • Registered Users Posts: 6,632 ✭✭✭SouthWesterly




  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán


    I'm a nobody, really, I just post some helpful stuff on Instagram for people who are desperately struggling to find a home. So take it as a very good sign if you haven't heard about my page!



  • Registered Users Posts: 6,632 ✭✭✭SouthWesterly


    I'm one of those fortunate people who have a house and no mortgage. 😁



  • Registered Users Posts: 6,771 ✭✭✭knucklehead6


    Oh if ever there was a time for someone to post a Star Wars meme where the emperor is encouraging people to let the hate flow through them then this post is it!! 😂🤣


    https://64.media.tumblr.com/db9b39dfb6efb7bb4ad6a16102c207b9/tumblr_o58t914lf41sl21koo1_540.gifv



  • Registered Users Posts: 142 ✭✭ClaudeVercetti


    Hey Ciarán, love the page and finding it very helpful as myself and my partner are going through our own first time buyer journey!

    I was listening to you before telling your story about how you managed to arrange a private sale via writing letters to folks in the area you wanted to buy - do you think with average prices having increased further since then that you would've had similar success in the current climate if you were only doing that now?

    And also have you heard of many people doing similar since you mentioned it on the airwaves?



  • Moderators, Sports Moderators, Regional West Moderators Posts: 6,773 Mod ✭✭✭✭connemara man


    In an ideal world how much should a house cost? ( I know that's a how long is a live of string type of question)

    What is the worst house for the silliest money you've come across?

    New build Vs older house to renovate?



  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán


    Great question! (More info on how we bought off-market here) At the time of buying, we paid more for our house than any other house on that road had ever sold for 😭 but within a few months 2 others sold for between 5% and 33% more than ours but had bigger gardens (the 5% one was in worse condition than ours though, but the 33% one was turn-key).

    Now, only 8 months later, other houses around the area have gone for around 55% more than ours and would have been deemed as 'not as good' as ours (size, location, garden, orientation, etc).


    If we had waited, we'd have had to pay a lot more, which we couldn't have afforded so we would have not been able to buy anything in the area. Now, the value of the house means nothing to me as we plan on staying there, hopefully, forever. We bought a home, not an investment.


    I have heard of well over 20 cases now of people having success with this approach. 2 posted on local Facebook community groups. One just went knocking on doors! The market is just insane at the moment, so it just requires getting extremely lucky.


    Hope all that makes sense, sorry, I hate typing on my phone. I usually reply to my DMs with voicenotes!



  • Registered Users Posts: 8,239 ✭✭✭Pussyhands


    Why do you have a patreon when all you do is literally get an ad on daft?

    Also why, as someone who's got a big online following, do you not know the difference between an asking price of a house and the AMV of a house entering an auction? You claimed a house went X amount above asking when it was sold in an auction, there is no asking price in an auction.



  • Registered Users Posts: 8,239 ✭✭✭Pussyhands


    Please don't do that. It's exceptionally rude. "hey, I know your mam died but if you're selling, I'd be interested!"

    If someone wants to sell you their house, they'll approach you. You're basically trying to pay below market rate for it.



  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán


    I think if your mortgage repayments are 30% or less of your take home pay, then that's a decent benchmark for most European cities.


    The silliest money I saw was for a house in D6 somewhere that was listed for €650k and sold for €1.35 million! My numbers could be a little off there but it was in or around double the asking price. Madness. And it needed to be completely gutted.


    I'm coming to the end of a full renovation and I never want to do it again, but for me personally, it suited us better. We couldn't afford a new build in the area we wanted, and the renovation means we can completely customise the house to suit us.



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  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán




  • Registered Users Posts: 6,003 ✭✭✭handlemaster


    Hi OP. I have never heard of you . I also don't have Instagram. What is it you do. Do you comment on the housing market give qualified professional advice ?



  • Registered Users Posts: 6,003 ✭✭✭handlemaster


    Thats more about estate agent tactics. There are a few like that in Dublin. Personally they put me right off when I was looking to buy.



  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán


    Hi. That's ok if you've never heard of me. I don't expect people to have heard of me. Boards asked me to come on here...

    I just comment on things really and share helpful stuff I've learned along the way. I steer people towards professionals when they require professional advice.



  • Registered Users Posts: 142 ✭✭ClaudeVercetti


    Do you really think someone is going to be that blasé in their messaging? I heard how it was done on the radio, the message was along the lines of "this is who we are and this is our circumstance, if you're ever considering selling we'd love to have a chat" - And it's not to avoid paying market rate, it's to avoid a ridiculous bidding war that drives the house price to multiples of the market rate.

    How is someone meant to approach you to sell a house if they don't know you exist? Letting them know you're out there is the goal here, not to snag a bargain from under a sellers nose.



  • Registered Users Posts: 142 ✭✭ClaudeVercetti


    Cheers for the detailed response! Hadn't considered Facebook groups as a more indirect approach of making yourself known



  • Registered Users Posts: 30 Maelenn


    Hi Ciarán

    we love your page! Two questions:

    1- we are civil servants and were hoping to get an exception. I saw in one of your posts that you got one with ICS, what was the process like? Do you have to tell the bank you are looking for an exception?

    2- we are considering not using a broker. What are your views of using or not a broker?

    thanks a mill!



  • Company Representative Posts: 20 Verified rep Crazyhouseprices: Ciarán


    Banks have this weird deal where they want you to go sale-agreed before telling you if you can have an exception.... It's mad. As far as I know, ICS only deal with brokers, so you can't apply directly. I could be wrong though.

    I'd recommend a broker, as they'll know if you're likely to get the exception. Our broker knew that we would get the exception, so once we did secure the house, it was fairly straightforward. They were brilliant to deal with to be honest. ICS have just increased their fixed rates by 1.2% over the last 2 months though. However, it looks like all lenders will be doing the same shortly.


    Most brokers get their fee from the lender. I did a detailed post on getting exceptions here



  • Registered Users Posts: 30 Maelenn


    That is very informative! Thanks again



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  • Registered Users Posts: 2 cuan1234


    Gutted about ICS increasing their rates recently as we had AIP but hadn't received our loan offer. We're still thinking of going with the new interest rate, even though it's 3.55% now. Is that a very high rate in your opinion?



This discussion has been closed.
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