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26-11-2019, 13:56   #46
Eric Cartman
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Originally Posted by Kleine Hundin View Post
I don't think an 11% margin is so bad for a company creating value. There is risk involved for the developer and I'm surprised it is set at that level and not higher.

The finance cost at 6% is high in today's low interest environment with the ECB at 0%. Financing should be cheaper for property developers which is one of the recommendations "Providing a State-supported development bank to lower the cost of funding home construction. This could save €12,000 from the cost of constructing the average home"
Just expidite reposessions, germanys rates average 2.3% on mortgages , its the inability of a bank to reposess defaulted properties has caused our high rates and nothing else
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26-11-2019, 15:58   #47
Mrs OBumble
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Whats your source then for the above? or did you work for one of the Galway City Auctioneers in the past?
I've been told by locals that's the way they do things: Infrequent sales to people intending to stay long term.

And I've seen an agent advertise the service once.
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26-11-2019, 18:36   #48
Kleine Hundin
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Just expidite reposessions, germanys rates average 2.3% on mortgages , its the inability of a bank to reposess defaulted properties has caused our high rates and nothing else
With the right conditions you can get 0.5% fixed for ten years in Germany. LTV of about 70% and buying in one of the big cities in Germany. any house that comes on the market is rare and do uppers or luxury villas. The market is mostly are apartments. Unless you move further out but commuting is doable and more comfortable than the Dublin region

The lower interest just puts up prices as it's all about the repayment and borrow more.

I've seen houses in Ireland taken by the banks and left empty for years which just further devalues the house as it gets neglected or vandalised.
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27-11-2019, 00:05   #49
TheSheriff
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I don't agree. At least you'd be limiting your market.

People are preoccupied with Christmas from November onwards, then feel poor in January as its typically 5/6 weeks since they've last been paid they have spent heavily in December.

Also, have you looked outside? The weather is non stop miserable, the evenings are closing in and everything is just grey and damp. If you want to do evening viewings, they're going to be in the dark.

So you've a smaller pool of buyers and your house won't look its best. You might be able to get a buyer, but are you maximising your sale price by selling in the middle of winter? Doubt it.

Things are the way they are for a reason and technology doesnt overcome what I've outlined above.
I disagree with this.

As FTB we have viewings arranged the first two weeks in December, and plan to view right up to Christmas.

A 6 week payday gap in Jan will have zero impact on our mentality of buying a house ? Why would it? We are mortgage ready etc.

Have friends in a similar scenario, multiple couples, all still actively looking every weekend.
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27-11-2019, 01:04   #50
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builders in dublin are saying the profit on building a house is too small,
if house is in the 250k range.
maybe builders could get tax credits fro building in citys where there is high demand but sites are very expensive .
Ignore that rubbish, of course they're gonna say the profit is too small. Pre-crash, they were raking it in and started cutting corners to complete builds and move on to the next big project. Then priory Hall happened, and all of a sudden the new regs came in, which meant they had to pay people to sign off on plans and builds (which they used to sign off on themseleve). Now, this 'extra expense' was eating into their bottom line.

Of course, If you compare profits from now to 2007 it looks bad. That's because the cowboys who were signing off on everything weren't been held accountable, so didn't give a rats ass.

I mean, take a look at the Home Bond scheme and what happened with pyrite. This is mandatory insurance which is factored into the cost of a new build in case anything goes wrong. Quarries were selling stone blocks and cement that was not tested if it was fit for purpose, due to pressure from the builders, so essentially everything built in Meath, Kildare and North Dublin within a certain time frame is a ticking time bomb.

What did the Home Bond crowd do?....... Refuse to cover it.

If I'm not mistaken, it is STILL mandatory to pay it today.
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27-11-2019, 12:59   #51
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I've been told by locals that's the way they do things: Infrequent sales to people intending to stay long term.
Dúirt bean liom go ndúirt bean léi!
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28-11-2019, 12:56   #52
Mrs OBumble
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Dúirt bean liom go ndúirt bean léi!
I thought that too - until I saw the service advertised in the newspaper.
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15-01-2020, 10:38   #53
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I thought that too - until I saw the service advertised in the newspaper.
Who was advertising the service and was it recently?
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15-01-2020, 11:14   #54
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Er do some of the poster here not understand the term 'net migration'?

EG you subtract the number of people who emigrate from ireland/return home from the no of people who arrive to get the correct figure. Its actually on the graph you have posted!

Feed the trolls ...
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15-01-2020, 11:19   #55
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And isn't it very ironic to hear irish people complain about migration. i think a quick look in a history book wouldn't go astray either! there are approx 3 million Irish passport holders living abroad, from a country with a population of 4.9 million .... let that sink in.

I mean if there was one country in europe that should understand the challenges migrants face it would be this one.
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