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2015 - how's your property search going?

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135

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    #62
    bringitdown
    Registered Users Posts: 2,002 ✭✭✭bringitdown


    Contracts signed, funds provided and waiting for closing tomorrow and keys!

    Took fuppin ages (4/5 months) but happy with the value we got.


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    #63
    jay0109
    Registered Users Posts: 2,670 ✭✭✭jay0109


    After 3 years of looking, dipping in and out of viewings as the mood took me, I put in my 1st bid recently on a large family home (SCD)...in need of a lot of work.
    Now it's a game of wait and see what happens at the next open viewings. Hopefully no other bids as already maxed out, but I have a feeling I'll be outdone on this one


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    #64
    bigdaddy2010
    Registered Users Posts: 64 ✭✭bigdaddy2010


    mr_seer wrote: »
    Suggest to the agent that you have viewed another property that you like. Don't make any threats but politely tell him that you would like an answer. If he thinks that you may pull out he will start putting pressure on the vendor which might be a good thing

    Thanks.yeah rang him today and said I wasn't going to wait around any longer and I wanted an answer in 24 hours. He said he would contact the other bidder and give them til close of today to see if he'll better my offer. Can only wait and see.


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    #65
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    We were looking all of last year. First 6/7 months prices were rocketing where we were looking - just outside the Dublin county border.

    Back from holidays in July to a noticeable cooling, then the central bank announcement came & the cooling went to cold. We went sale agreed on a house in late October for less than we thought we would have to pay (but about 2.5% above asking) & ours went sale agreed at the start of December, again for a bit less than we hoped we would get, but about 3.5% above asking. Just hoping that we will get it all across the line in the next month.

    There is still a problem with stock in this area - very few good family homes coming up. Prices are about 25-30% off their crazy peak back in 2007. Lots of people still deep in negative equity.
    The 20% deposit to trade-up & the LTI limits will keep a lid on prices I think - the LTI more so, on anything over €400,000.


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    #66
    Jeremyr
    Registered Users Posts: 83 ✭✭Jeremyr


    Already seeing price drops in West Dublin, alot of 2 bed houses in decent areas and good condition going for around 140k-170k

    Hopefully the 3 beds start dropping and i can get something soon ( Been saving 10 years )


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    #67
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    Jeremyr wrote: »
    Already seeing price drops in West Dublin, alot of 2 bed houses in decent areas and good condition going for around 140k-170k

    Hopefully the 3 beds start dropping and i can get something soon ( Been saving 10 years )

    Dropped from what price ? Have you got a link ? Only see prices going up


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    #68
    um7y1h83ge06nx
    Closed Accounts Posts: 5,029 ✭✭✭um7y1h83ge06nx


    Getting a little caught at the moment as I'm still on my six month probation with 2 months left to go - 51 days to be exact! ;-)

    Driving me nuts that the bank are making a big deal of it when our LTV is about 60% and our LTI is just over 2 and I have full continuous employment since I left college almost 10 years ago.

    Wouldn't want to say with it being a private sector job I could just as easily be drop kicked out the door in 3 months time as I could be now.

    Trying to find a bank now that will take a "case by case basis" view on it rather than a computer says no approach.


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    #69
    Kinet1c
    Closed Accounts Posts: 824 ✭✭✭Kinet1c


    Kiana Flat Teaspoonful wrote: »
    Getting a little caught at the moment as I'm still on my six month probation with 2 months left to go - 51 days to be exact! ;-)

    Driving me nuts that the bank are making a big deal of it when our LTV is about 60% and our LTI is just over 2 and I have full continuous employment since I left college almost 10 years ago.

    Wouldn't want to say with it being a private sector job I could just as easily be drop kicked out the door in 3 months time as I could be now.

    Trying to find a bank now that will take a "case by case basis" view on it rather than a computer says no approach.

    Employment law is against you, not the banks. Your employer can walk in tomorrow and say "you're fired, it's not working out and give you a week's notice" .. entirely legal. Whereas once your permanent it's a whole different ball game. No bank will touch you if you're not permanent.


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    #70
    Jeremyr
    Registered Users Posts: 83 ✭✭Jeremyr


    handlemaster wrote: »
    Dropped from what price ? Have you got a link ? Only see prices going up

    :rolleyes:


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    #71
    um7y1h83ge06nx
    Closed Accounts Posts: 5,029 ✭✭✭um7y1h83ge06nx


    Kinet1c wrote: »
    Employment law is against you, not the banks. Your employer can walk in tomorrow and say "you're fired, it's not working out and give you a week's notice" .. entirely legal. Whereas once your permanent it's a whole different ball game. No bank will touch you if you're not permanent.

    That is true, by I could be made redundant in a few months with no cost to the employer.

    I remember before and from doing a bit of Googling this morning that before it was a lot more of a case by case basis, serious tightening of the belts since of course.

    The only thing is that the area I'm looking in is stagnant, Limerick county. This plus the new mortgage rules might drive down the number of mortgage applications or at least reduce the amount people that are applying. Might help open things up a bit more.


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    #72
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    Jeremyr wrote: »
    :rolleyes:

    :rolleyes:


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    #73
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    Kiana Flat Teaspoonful wrote: »
    Getting a little caught at the moment as I'm still on my six month probation with 2 months left to go - 51 days to be exact! ;-)

    Driving me nuts that the bank are making a big deal of it when our LTV is about 60% and our LTI is just over 2 and I have full continuous employment since I left college almost 10 years ago.

    Wouldn't want to say with it being a private sector job I could just as easily be drop kicked out the door in 3 months time as I could be now.

    Trying to find a bank now that will take a "case by case basis" view on it rather than a computer says no approach.

    When we got mortgage approval in principle it was subject to a couple of conditions - mostly paperwork issues. I wonder if any bank would give AIP subject to you being made permanent in two months time. After all by the time you find a property, bid on it, go sale agreed & get full mortgage approval & get contracts it's very likely the eight weeks will be over anyway.


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    #74
    boardmember
    Registered Users Posts: 31 ✭boardmember


    Kinet1c wrote: »
    Agree with this, got a more specific area boardmember?

    It happens to be a new build in stocking avenue, one of the 5 bed semi's?


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    #75
    Kinet1c
    Closed Accounts Posts: 824 ✭✭✭Kinet1c


    crisco10 wrote: »
    Rathfarnham is one of the most abused location names out there. It feels like some EA's think it goes all the way to Blessington!
    boardmember wrote: »
    It happens to be a new build in stocking avenue, one of the 5 bed semi's?

    If you take a look at google maps, it's closer to Ballycullen or Knocklyon then Rathfarnham Village. Not a bad area per se but just developers stretching the truth a little which drives up the price.


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    #76
    farrerg
    Registered Users Posts: 133 ✭✭farrerg


    boardmember wrote: »
    It happens to be a new build in stocking avenue, one of the 5 bed semi's?

    we had a look at these, large houses considering the price, especially when compared to the houses close by in Prospect Manor


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    #77
    crisco10
    Registered Users Posts: 6,181 ✭✭✭crisco10


    Is it just me or has supply significantly dried up? Very few places coming on market in Dublin (more specifically SCD)...


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    #78
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    crisco10 wrote: »
    Is it just me or has supply significantly dried up? Very few places coming on market in Dublin (more specifically SCD)...

    I am looking at apartments so might be different, but did not notice a significant change in SCD.


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    #79
    jay0109
    Registered Users Posts: 2,670 ✭✭✭jay0109


    crisco10 wrote: »
    Is it just me or has supply significantly dried up? Very few places coming on market in Dublin (more specifically SCD)...

    Stats over on the Pin showing Supply way up on this time last year


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    #80
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    crisco10 wrote: »
    Is it just me or has supply significantly dried up? Very few places coming on market in Dublin (more specifically SCD)...

    Noticing some very optimistic asking prices. Probably NE sellers trying to offload but they've missed the boat I think.


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    #81
    jay0109
    Registered Users Posts: 2,670 ✭✭✭jay0109


    gaius c wrote: »
    Noticing some very optimistic asking prices. Probably NE sellers trying to offload but they've missed the boat I think.

    Seeing that too...some very big prices being asked of late


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    #82
    farrerg
    Registered Users Posts: 133 ✭✭farrerg


    jay0109 wrote: »
    Seeing that too...some very big prices being asked of late

    I spoke to an EA friend of mine yest, said he his seeing a rush of people trying to buy before the new LTI rules kick in or their approval in principle runs out. Thinks there'll be a mini bubble in some areas for next 6 months until these wash through the system.


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    #83
    Barely Hedged
    Closed Accounts Posts: 992 ✭✭✭Barely Hedged


    jay0109 wrote: »
    Seeing that too...some very big prices being asked of late

    Any examples?


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    #84
    Kinet1c
    Closed Accounts Posts: 824 ✭✭✭Kinet1c


    Majority of movement on collapso in Dublin has been red.


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    #85
    Barely Hedged
    Closed Accounts Posts: 992 ✭✭✭Barely Hedged


    Kinet1c wrote: »
    Majority of movement on collapso in Dublin has been red.

    Price drops are considerably more likely to be published rather than price increases.


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    #86
    Kaizersoze81
    Registered Users Posts: 1,238 ✭✭✭Kaizersoze81


    Barely Hedged wrote: »
    Any examples?

    http://www.myhome.ie/residential/brochure/67-broadford-close-ballinteer-dublin-16/3054135


    This 3 bed semi in Ballinteer is a good example. I viewed it. Current offer is 402,500.


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    #87
    Barely Hedged
    Closed Accounts Posts: 992 ✭✭✭Barely Hedged


    Kaizersoze81 wrote: »
    http://www.myhome.ie/residential/brochure/67-broadford-close-ballinteer-dublin-16/3054135


    This 3 bed semi in Ballinteer is a good example. I viewed it. Current offer is 402,500.

    How is that a good example of optimistic asking prices if the asking price has been exceeded?


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    #88
    Kaizersoze81
    Registered Users Posts: 1,238 ✭✭✭Kaizersoze81


    Barely Hedged wrote: »
    How is that a good example of optimistic asking prices if the asking price has been exceeded?

    Well it's optimistic from the asking price. 395 is way overpriced for those houses, which were going for 230,000 in 2012.


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    #89
    Barely Hedged
    Closed Accounts Posts: 992 ✭✭✭Barely Hedged


    Kaizersoze81 wrote: »
    Well it's optimistic from the asking price. 395 is way overpriced for those houses, which were going for 230,000 in 2012.

    But an asking price cant be optimistic if its been exceeded?


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    #90
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Kaizersoze81 wrote: »
    Well it's optimistic from the asking price. 395 is way overpriced for those houses, which were going for 230,000 in 2012.

    I agree I wouldn't pay that price.

    But if they are getting offers, I wouldn't call the asking price optimistic either.


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    #91
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    Barely Hedged wrote: »
    Price drops are considerably more likely to be published rather than price increases.

    I'm not sure what the logic behind that statement is. Are we talking asking prices or selling prices?

    Wasn't there a recent discussion about EAs pulling ads that needed a price reduction and putting them back up. Callapso pull their info straight from DAFT and Myhome and there are loads more decreases than increases. That would suggest to me that there has been 'optimistic' asking prices.

    Yes of course there will be properties selling over asking and we'll be unlikely to see that data. The problem there is that suggests the property was priced keenly to attract interest in the first place, or for what ever reason, has significant interest. Without cross referencing it with the actual selling prices I think it's fair enough to take the fact that there are way more decreases than increases at face value.

    I make no comment on particular areas though.


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