How much has your home dropped in value recently?

mail4liam · 20-03-2010 03:09AM #1

It's sad to see the value of homes dropping in so much value, there's a couple who live close to me who have their home up for sale now for over a year.
when they bought it they paid nearly €600,000 that was about three years ago.
They are now selling the house for just over €325,000 and they aren't having any luck.. It's very sad to see this happening, I know there are lots of people out there with similar situations. can your bear to think about it? Are you one of the lucky ones who has only purchases recently with a huge fall in the selling price, if you'd like to comment, please do, i'd like to read your story?:P

starbelgrade · 20-03-2010 03:13AM

My house cost €800 million & has been recently valued at €567 million. I'm gutted.

RayM · 20-03-2010 03:16AM

mail4liam wrote: »

It's sad to see the value of homes dropping in so much value, there's a couple who live close to me who have their home up for sale now for over a year.
when they bought it they paid nearly €600,000 that was about three years ago.

The saddest thing isn't that houses have depreciated, but that they were ever so ridiculously over-inflated in the first place. I'm glad they're dropping. Long may it continue.

minidazzler · 20-03-2010 03:18AM

Too bad people don't do crazy things anymore.

You know something crazy and out there like you know....LIVE in their houses!

pirelli · 20-03-2010 03:23AM

mail4liam wrote: »

It's sad to see the value of homes dropping in so much value, there's a couple who live close to me who have their home up for sale now for over a year.
when they bought it they paid nearly €600,000 that was about three years ago.
They are now selling the house for just over €325,000 and they aren't having any luck.. It's very sad to see this happening, I know there are lots of people out there with similar situations. can your bear to think about it? Are you one of the lucky ones who has only purchases recently with a huge fall in the selling price, if you'd like to comment, please do, i'd like to read your story?:P

My house was bought in 2000- 2001, however i wanted to sell in 2006 and the joint owner refused and refused. I had engaged an estate agent and would have been able to sell it very very quickly.

They were going like hot cakes. However now i am stuck with it, and it's not a house i would like to be stuck with for ten years. It's a shame because it is money that will never be available again.

starbelgrade · 20-03-2010 03:26AM

RayM wrote: »

The saddest thing about it isn't that houses have depreciated, but that they were ever so ridiculously over-inflated in the first place. I'm glad they're dropping. Long may it continue.

It's good that housing prices are dropping, that the developers were exposed as been greedy f*ckers, who in cohoots with the banks & developers, ran this country almost into the ground.

The only truly sad thing is, is that only the ordinary people got caught up in the mess & bought into these properties at stupid prices & are now paying through the nose for them, whilst the banks get bailed out, the developers write off their debts & the politicians stay in their over-paid cushy jobs for the next few years.

The only losers are normal people, who in most cases were too busy working & getting on with life to understand the consequences of buying into property in the height of a boom.

I jested earlier, but it's not really that funny, in fairness.

whatdoicare · 20-03-2010 03:33AM

Bought my house at the beginning of the recession when everyone was panic selling- some houses in my area have actually recently sold for more than I paid for mine -:D score!

epgc3fyqirnbsx · 20-03-2010 03:39AM

I live in my car
It's an Alpha

Depreciation sucks

shuvly · 20-03-2010 03:50AM

yeah, am fecked, bought my money pit 3 years ago, but as I work in the PUBLIC SECTOR...none of ya will care, but am not intendending on moving...unless I get with a NAMA bastard, and that would so go against all that is AH, which is my adopted religion, and am sure is gonna be a choice in the next census...:)

If jedi can get there, surely boards can!

Senna · 20-03-2010 04:14AM

2006 - "how much is your house worth?"

2010 - "how much have you lost on your house?"

2014 - "anyone got a cardboard box they dont need?"

starbelgrade · 20-03-2010 04:18AM

I'm thinking of building an extension, but I'm not sure if I need planning permission to add an egg box to the side.

pirelli · 20-03-2010 04:49AM

Check this website out it gives you a very detailed picture of the depreciation if any of any property anywhere in ireland.

http://www.irishpropertywatch.com/index.php

techdiver · 20-03-2010 04:53AM

Christian Melted Butter wrote: »

I live in my car
It's an Alpha

Depreciation sucks

I think you mean ALFA??

RATM · 20-03-2010 05:33AM

Sad for those who are now in negative equity (like two of my family) and can't move if they wanted to.

Happy for me who was within 1 week of buying a 2 bed apartment for 470,000 in Drumcondra in 2006 but pulled out at the last minute having realised 470k was just a ridculous, crazy price to pay for 80sqm. (with 2k p.a. management fees attached)

Saw the same property selling last week (diff apartment but same building) for 320k and its still waaay overpriced IMO.

Another 24 months should see prices hit their true value- probably around 20% of peak bubble prices and only then will I enter the market.

phantom_lord · 20-03-2010 06:04AM

renting ftw

Fizman · 20-03-2010 06:17AM

My house has increased bout three fiddy.

Odysseus · 20-03-2010 10:08AM

I was somewhat luckly I moved up to Louth 6 six years ago, got a lovely 3 bedroom for 165,000 three years ago there was another 100,000 added to the prices. Today I don't know, I don't think I'm down, but can't be bothered to check. There was no way I was going to spend the type of money they where looking for in Dublin at that time. One hour on my bike and I'm in work. When I used to commute from Ballyfermot to Tallaght on the bus it took longer than than that.

owenc · 20-03-2010 10:12AM

It was around £750,000 in the boom time its now around £650,000.

JONJO THE MISER · 20-03-2010 10:15AM

I think its great that prices are coming down, by sister could never afford to buy a decent house, now she can get a lovely 4 bedroom mansion in the countryside for $200,000.

cournioni · 20-03-2010 10:16AM

Why would you buy a house that you want to sell?? That's just stupidity. It shouldn't matter what it worth now if you live in it and are happy where you are.

Oh by the way, countryside is the place to be hey!

arybvtcw0eolkf · 20-03-2010 10:24AM

Bought my first house for 12k punts, sold it for 69k punts and bought my present house for 59k punts and owe feck all

At the height of the boom I'd have got close to €650k for it, haven't a clue what its worth now and don't really give a rats ass.

But I do realise how unlucky a lot of the country has been and genuinely feel sorry for those in negative equity and getting arse raped with management fee's.

Odysseus · 20-03-2010 10:26AM

PORNAPSTER wrote: »

Oh by the way, countryside is the place to be hey!

Couldn't agree more with you, I love it up here. I always love to hunt, but would not keep firearms in Dublin, no probs up here. When I'm locking my bike up at home I can hear the sea, when I'm locking up at my partners in Dublin all I hear is the Garda chopper:rolleyes:

North_West_Art · 20-03-2010 10:29AM

these apartments were going for 140k over a year ago, and no one was buying... (no, I didnt buy one:))
http://www.daft.ie/searchsale.daft?id=511620&search=1

jaykay74 · 20-03-2010 10:31AM

turdy tree and a turd percent roughly

DonJose · 20-03-2010 10:35AM

I returned to Ireland in 2006 and viewed a lovely detatched house that was selling for €600k, decided to rent instead. Fast forward to summer 2009, I bought in the same estate for €340k, who says rent is dead money

I'm still hoping for property prices to drop so my kids can live closeby.

starbelgrade wrote: »

I'm thinking of building an extension, but I'm not sure if I need planning permission to add an egg box to the side.

If the extension is at the rear of the property you can build up to 40sqm without planning permission. A side extension will most likely need planning permission.

omahaid · 20-03-2010 10:43AM

I bought for 100k 10 years ago, probably worth the same now

stovelid · 20-03-2010 10:46AM

I think it's still "worth" about 30% more than we paid last time I checked, even after after a pretty large drop from peak prices.

"Worth" being a wholly meaningless gauge if nobody fancies buying it (quite likely) of course.

Never bought it with the idea of moving on in the short to medium term anyway. The area is nice and we're more than happy to stay long-term; the house is currently big enough for the amount of kids we have/want and can be extended if need be.

AARRRRGH · 20-03-2010 10:48AM

Bought my house for £120,000 punts in 1997 and its all paid off now.
I dont live in it now, have it rented. I work outside the country for half the year. So might as well rent out my own house the rest of the year (Have to pay tax and will end up with capital gains, but still make a really nice profit). I have a mews at the back of it that i live in when im in Ireland.

No idea what its worth as i'll move back in when I stop working abroad so much.

dasdog · 20-03-2010 11:15AM

mail4liam wrote: »

It's sad to see the value of homes dropping in so much value, there's a couple who live close to me who have their home up for sale now for over a year.
when they bought it they paid nearly €600,000 that was about three years ago.
They are now selling the house for just over €325,000 and they aren't having any luck.. It's very sad to see this happening, I know there are lots of people out there with similar situations. can your bear to think about it? Are you one of the lucky ones who has only purchases recently with a huge fall in the selling price, if you'd like to comment, please do, i'd like to read your story?:P

Why would you buy a house if you only intend to live in it for three years? Would renting not have been the more sensible option or was that something for a lesser type class of person to do? Or perhaps they were speculating and thinking of flipping it and making a profit? The re-balance of an over inflated property bubble is necessary its not sad. If they drop their price it may sell. In another few years they may have trouble selling it for €200k if you look at how these things play out historically in other bubble markets that have collapsed.

Rebelheart · 20-03-2010 11:22AM

mail4liam wrote: »

It's sad to see the value of homes dropping in so much value

On the contrary: it is superb! I'll be able to afford to buy a house if this continues.

But rest assured, the Irish government is doing its utmost to stop house prices from collapsing to their true value. Fianna Fáil and NAMA are your best friends, and my worst enemies for interfering in the free market to prop up the idiots who paid such obscene prices.

Tender Hoop · 20-03-2010 11:31AM

Bought my apartment in 2006 for 326k

Now its worth about 200k

My girlfriend wants to start a family soon and I want to kill myself.

How much has your home dropped in value recently?

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