Property Liquidation Sales

LarrytheLantern · 19-07-2010 01:04AM

fontanalis wrote: »

I wouldn't be surprised if there will be another bubble.

it's as sure as night follows day.
the history of economics is one of boom, bust, boom, bust.

SugarHigh · 19-07-2010 01:04AM

mkahnisbent wrote: »

What are you basing this on? Every piece of data suggests house prices will continue to fall for many years.

Off the top of my head -

Proper mortgage regulation
Rising interest rates
Emigration
Decreasing wages
Increasing unemployment
Lack of credit
Poor sentiment
Rising oversupply
Etc.

Every month you refrain from buying is at least an extra 10 - 20k in your pocket over the life of the mortgage.

So if these people waited 12 months they'd have a house for 5 grand.

I'll ask you the same question you asked him.

What are you basing this on?

SugarHigh · 19-07-2010 01:05AM

gurramok wrote: »

Err, this is Sligo we're talking about, hardly a metropolis of traffic jams :rolleyes:

I'm not sure what point you're making.

Sligo town has all the amenities you would expect from a town are you seriously suggesting not having traffic jams is a bad thing.

fontanalis · 19-07-2010 01:08AM

LarrytheLantern wrote: »

it's as sure as night follows day.
the history of economics is one of boom, bust, boom, bust.

irelands bubble was pretty ridiculous though, but why do people keep linking a boom with property prices though?

gurramok · 19-07-2010 01:09AM

SugarHigh wrote: »

I'm not sure what point you're making.

Sligo town has all the amenities you would expect from a town are you seriously suggesting not having traffic jams is a bad thing.

Nothing wrong with Sligo town. They market the new houses as 20mins from Sligo town, thats rural Ireland to me, aka holiday home territory and as the housing estate is half finished..well you know the rest:)

LarrytheLantern · 19-07-2010 01:10AM

mkahnisbent wrote: »

What are you basing this on? Every piece of data suggests house prices will continue to fall for many years.

Off the top of my head -

Proper mortgage regulation
Rising interest rates
Emigration
Decreasing wages
Increasing unemployment
Lack of credit
Poor sentiment
Rising oversupply
Etc.

Every month you refrain from buying is at least an extra 10 - 20k in your pocket over the life of the mortgage.

yes i agree, but you forget the majority of data you (and 99% of the pop) rely on to base their investment decisions is already dated by the time they examine it. By the time most of the populace get and consume data it's already out of date, therefore they end up basing their investment decisions on false info.

this is exactly what happened the poor buggers that bought at the height of the boom.

SugarHigh · 19-07-2010 01:12AM

gurramok wrote: »

Nothing wrong with Sligo town. They market the new houses as 20mins from Sligo town, thats rural Ireland to me, aka holiday home territory and as the housing estate is half finished..well you know the rest:)

Is the fact it's rural Ireland a bad thing? If the people buying the house though living in rural Ireland was a bad thing they obviously wouldn't be buying it.

the housing estate is half finished.

Read the article.

The receiver brought in a new firm to finish off the housing estate and put 18 of them on the market this weekend at half the original asking price of €250,000.

you know the rest

Nope

mkahnisbent · 19-07-2010 01:13AM

SugarHigh wrote: »

So if these people waited 12 months they'd have a house for 5 grand.

Don't be ridiculous. Houses like the ones for sale in Sligo will settle at around the 60k mark.

What am I basing this on?

1. They're in Sligo, not exactly a hub of employment.
2. They're in the middle of nowhere.
3. They're poor quality housing.
4. About 2 times the average wage sounds about right.

The list of reasons not to buy are facts, not opinions, so I don't really understand what you mean by what am I basing my information on...

These are all facts:

Proper mortgage regulation
Rising interest rates
Emigration
Decreasing wages
Increasing unemployment
Lack of credit
Poor sentiment
Rising oversupply

It sounds like you want to believe now is a good time to buy. Sadly you cannot see I am going out of my way to try to advise you otherwise. But as they say, a fool and his money are easily parted, so if you want to ignore reality and live in fantasy land, go ahead and waste your money. Just don't come back here complaining in a few years shunning personal responsibility when you're in negative equity.

Cheap Thrills! · 19-07-2010 01:15AM

LarrytheLantern wrote: »

all these properties have full services i believe.

Hm, look and verify with your very own eyes! Don't believe anything a vendor/estate agent says!!!

LarrytheLantern wrote: »

they are 20 minutes from Sligo town, 2 miles from the charming seaside resort of Mullaghmore.

Nice if you need an ice cream or a bucket and spade but a slight a pain in the t!ts if you just want a carton of milk/toilet paper!!!

Also I lived in a place that was advertised as 'an hour from Dublin' -yeah an hour in a helicopter as the crow flies at 6 in the morning on a bank holiday! Spent many a year repenting at leisure in traffic jams!!!

gurramok · 19-07-2010 01:17AM

SugarHigh wrote: »

Is the fact it's rural Ireland a bad thing? If the people buying the house though living in rural Ireland was a bad thing they obviously wouldn't be buying it.

Read the article.

Nope

Its rural Ireland in the middle of nowhere, where your nearest neighbours are the ghosts!!

Now if the housing was somewhere in Sligo town, they would be attractive,

SugarHigh · 19-07-2010 01:19AM

Cheap Thrills! wrote: »

Hm, look and verify with your very own eyes! Don't believe anything a vendor/estate agent says!!!

Nice if you need an ice cream or a bucket and spade but a slight a pain in the t!ts if you just want a carton of milk/toilet paper!!!

Also I lived in a place that was advertised as 'an hour from Dublin' -yeah an hour in a helicopter as the crow flies at 6 in the morning on a bank holiday! Spent many a year repenting at leisure in traffic jams!!!

It's a village, do you really think there exists in Ireland a village where you can't buy milk and toilet paper?

Do you people even know what country your living? It's not possible to be in the middle of nowhere in Ireland because it;s just too small.

LarrytheLantern · 19-07-2010 01:20AM

mkahnisbent wrote: »

Don't be ridiculous. Houses like the ones for sale in Sligo will settle at around the 60k mark.

What am I basing this on?

1. They're in Sligo, not exactly a hub of employment.
2. They're in the middle of nowhere.
3. They're poor quality housing.
4. About 2 times the average wage sounds about right.

The list of reasons not to buy are facts, not opinions, so I don't really understand what you mean by what am I basing my information on...

These are all facts:

Proper mortgage regulation
Rising interest rates
Emigration
Decreasing wages
Increasing unemployment
Lack of credit
Poor sentiment
Rising oversupply

It sounds like you want to believe now is a good time to buy. Sadly you cannot see I am going out of my way to try to advise you otherwise. But as they say, a fool and his money are easily parted, so if you want to ignore reality and live in fantasy land, go ahead and waste your money. Just don't come back here complaining in a few years shunning personal responsibility when you're in negative equity.

see that's where we disagree.
the folk that bought in the last 3-5 years were most definitely living in FANTASY LAND, and have been severely burnt.
these houses, if you got the cash, are IMO good value.
i know this is a unpopular opinion, but people will begin to make money out of property again.
as with most things in life, it's often a question of timing.

NoHornJan · 19-07-2010 01:21AM

If you want it, and can afford it, buy it, otherwise don't be one of the poor unfortunates that was caught in the Celtic Tiger days.

mkahnisbent · 19-07-2010 01:22AM

LarrytheLantern wrote: »

these houses, if you got the cash, are IMO good value.

How are they good value?

Honestly I think you're letting the ridiculous bubble prices of the past 8 years mess skew your thinking.

Explain to me why they are good value...

SugarHigh · 19-07-2010 01:22AM

gurramok wrote: »

Its rural Ireland in the middle of nowhere, where your nearest neighbours are the ghosts!!

Now if the housing was somewhere in Sligo town, they would be attractive,

You realise some people would rather live in a rural location?

2 miles from a village is not that rural you need to travel more.

mikemac · 19-07-2010 01:24AM

LarrytheLantern wrote: »

the folk that bought in the last 3-5 years were most definitely living in FANTASY LAND, and have been severely burnt.
.

A bit harsh, most people buy a house as a home, investors are a minority of the market.

If you have a wife/husband and want to start a family and have no intentions of moving in the next 10 years then that isn't living in fantasy land at all.

gurramok wrote: »

Its rural Ireland in the middle of nowhere, where your nearest neighbours are the ghosts!!

Ghosts? The estate is completed and remaining housing sold. Your neighbour is next door.
And speaking as a rural home owner, these people live in an estate, so there are hundreds of people in the same area, hardly a rural area.
It's not a one off bungalow here

Cheap Thrills! · 19-07-2010 01:27AM

SugarHigh wrote: »

It's a village, do you really think their exists in Ireland a village where you can't buy milk and toilet paper?

You'd be suprised !!! And it's still 2 miles away, so the nearest shop is a drive, as I say pain in the ass if you discover you've no bog roll and you've had a beer so can't drive!

Or you just want some paracetemol when you are sick or some other essential !! Believe me it all seems no problem BEFORE you buy the gaff !

SugarHigh wrote: »

Do you people even know what country your living? It's not possible to be in the middle of nowhere in Ireland because it;s just too small.

It's all relative. Living a distance from amenities doesn't bother some but if every small thing you do is a massive inconvenience it gets real old real quick. Specially in the Winter when all your pipes are burst and it's dark 3/4's of the time and you have no food and it's snowing and you can't drive because of the ice.....

Notice these bargainacious gaffs are being sold at the height of the summer? Things look different in Winter.

LarrytheLantern · 19-07-2010 01:29AM

they are good value because the market will recover, and (not if) when it does property will begin to increase in value.

world-wide we are heading into an inflationary cycle.

mikom · 19-07-2010 01:30AM

Quote:
in Ceol na Mara

feelingstressed wrote: »

From my limited Irish that is song of the sea or similar, anyone wish to correct me?

Yet the estate is 2 miles from the coast?
Where do the developers conjure these names from from?

You know what happens when you follow the Sirens song.....

mkahnisbent · 19-07-2010 01:30AM

LarrytheLantern wrote: »

they are good value because the market will recover, and (not if) when it does property will begin to increase in value.

How can you recover to a bubble?

By all means buy one of the Sligo houses if you plan on living in it for 20 years, but as an investment, no way!

Sleepie time.

LarrytheLantern · 19-07-2010 01:32AM

mkahnisbent wrote: »

How can you recover to a bubble?

By all means buy one of the Sligo houses if you plan on living in it for 20 years, but as an investment, no way!

Sleepie time.

bubbles are actually quite nice, so long as you dont hang around long enough to see 'em go POP!;)

SugarHigh · 19-07-2010 01:34AM

Cheap Thrills! wrote: »

You'd be suprised !!! And it's still 2 miles away, so the nearest shop is a drive, as I say pain in the ass if you discover you've no bog roll and you've had a beer so can't drive!

Or you just want some paracetemol when you are sick or some other essential !! Believe me it all seems no problem BEFORE you buy the gaff !

It's all relative. Living a distance from amenities doesn't bother some but if every small thing you do is a massive inconvenience it gets real old real quick. Specially in the Winter when all your pipes are burst and it's dark 3/4's of the time and you have no food and it's snowing and you can't drive because of the ice.....

Notice these bargainacious gaffs are being sold at the height of the summer? Things look different in Winter.

2 miles isn't too long to walk unless it's raining and even then it really isn't a big deal, christ people are lazy these days. How often do you get stuck without bog roll? Buy bigger packs then it's not hard to do shopping once a week. Most people who live in towns still end up driving to the shop to get milk anyway so it's not a big issue.

Specially in the Winter when all your pipes are burst and it's dark 3/4's of the time and you have no food and it's snowing and you can't drive because of the ice.

Pipes still burst in towns and I don't think towns get more daylight:D crappy street lights don't count as they are annoying to live beside having an ugly orange glow constantly outside your window.

Why wouldn't you have food? how old are you that you are not able to plan a weekly shop properly?

mikemac · 19-07-2010 01:39AM

SugarHigh wrote: »

2 miles isn't too long to walk unless it's raining and even then it really isn't a big deal, christ people are lazy these days.

Rural roads, no footpaths, cars speeding around corners.
Dangerous enough to cycle, deadly to walk without a footpath.

It isn't even a rural area with limited traffic, it's an estate in Sligo so plenty of traffic.
If you walk two miles on this road without a footpath on a dark winter evening you have a deathwish

gurramok · 19-07-2010 01:40AM

SugarHigh wrote: »

You realise some people would rather live in a rural location?

2 miles from a village is not that rural you need to travel more.

So hows the bus service then?

feelingstressed wrote: »

Ghosts? The estate is completed and remaining housing sold. Your neighbour is next door.
And speaking as a rural home owner, these people live in an estate, so there are hundreds of people in the same area, hardly a rural area.
It's not a one off bungalow here

You'd think that. Remember this is an estate deep in the countryside 20mins drive from a major town, you are entirely relying on people actually living in this estate and not treating it as a holiday home.

stepbar · 19-07-2010 01:41AM

For those who don't know where there houses are located

http://maps.google.com/maps?f=d&source=s_d&saddr=Sligo,+Ireland&daddr=54.356156,-8.516464+to:Cliffoney&hl=en&geocode=FY8aPAMdGLx-_ykxhbDBNuheSDF0--2Q1yx9MQ%3B%3BFa6BPgMdBvx-_ylxFLBwbOFeSDFgejGXqccACg&mra=dpe&mrcr=0&mrsp=1&sz=11&via=1&sll=54.349345,-8.493355&sspn=0.178891,0.438766&ie=UTF8&ll=54.363758,-8.411407&spn=0.357655,0.877533&z=10

Cheap Thrills! · 19-07-2010 01:42AM

SugarHigh wrote: »

2 miles isn't too long to walk unless it's raining and even then it really isn't a big deal, christ people are lazy these days. How often do you get stuck without bog roll? Buy bigger packs then it's not hard to do shopping once a week. Most people who live in towns still end up driving to the shop to get milk anyway so it's not a big issue.

I never get stuck for bog roll now because I moved house, shop is 2 minutes walk these days!

SugarHigh wrote: »

Pipes still burst in towns and I don't think towns get more daylight:D crappy street lights don't count as they are annoying to live beside having an ugly orange glow constantly outside your window.

Why wouldn't you have food? how old are you that you are not able to plan a weekly shop properly?

I'm twice your age and on my second house. I don't do a weekly shop as supermarkets depress and bore me. I don't like to have to 'plan' a weekly shop or face starvation and using facewipes as TP. So where I live now everything is dandy and convenient!

But hey go for it, you seem to know all there is to know about buying property.

SugarHigh · 19-07-2010 01:42AM

feelingstressed wrote: »

Rural roads, no footpaths, cars speeding around corners.
Dangerous enough to cycle, deadly to walk without a footpath.

It isn't even a rural area with limited traffic, it's an estate in Sligo so plenty of traffic.
If you walk two miles on this road without a footpath on a dark winter evening you have a deathwish

So don't do that then, who said you would need to?

so plenty of traffic.

If their is plenty of traffic it's not in the middle of nowhere.

The people who buy these houses clearly don't care that it's not in a town in fact they probably see it as a positive.

I'd pay more for a house that's in the middle of nowhere tbh.

WalterMitty · 19-07-2010 01:42AM

looking at daft.ie these houses would only achieve a rent of 500eur a month or 6,000 a year. Thats a gross yield(before the expenses of owning) of less than 5%. This indicates its poor value and likely to fall much more. Youd want a yield of 7-10% to justify buying from an investment analysis perspective.

mikemac · 19-07-2010 01:43AM

gurramok wrote: »

You'd think that. Remember this is an estate deep in the countryside 20mins drive from a major town, you are entirely relying on people actually living in this estate and not treating it as a holiday home.

I shall read the article again Sir

All I read was it isn't by the coast and it isn't in Sligo town, pretty much middle of nowhere.

But you do have neighbours

mikemac · 19-07-2010 01:44AM

SugarHigh wrote: »

So don't do that then, who said you would need to?

This poster, it seems we are all lazy

SugarHigh wrote: »

2 miles isn't too long to walk unless it's raining and even then it really isn't a big deal, christ people are lazy these days.

Property Liquidation Sales

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