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23-01-2020, 20:10   #16
Senature
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I suspect most of those who price high and refuse to negotiate are in no rush to sell because they have no financial reason to take a lower offer. Which is fair enough, they can afford to wait for the right offer.
I can understand a lot of that, but the point that seems to be being made by several posters, is that some sellers are waiting for the "right" offer, but never getting it.

The financial reason for taking an offer which they might perceive to be "lower" is that it's about as good as they're gonna get.

Congratulations on the successful sale
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24-01-2020, 09:11   #17
Kh1993
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Looking in North Dublin at the moment and finding it very odd.

Two houses on the same roads in the same condition being listed 45k apart by different EA's.
House in a poor condition on a road that generally goes for no less than 315k being listed for 275 to stimulate a bidding war and then getting 320k.

Keeping a spreadsheet of prices etc but struggling to notice a discernible pattern.
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24-01-2020, 09:19   #18
Woshy
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Looking in North Dublin at the moment and finding it very odd.

Two houses on the same roads in the same condition being listed 45k apart by different EA's.
House in a poor condition on a road that generally goes for no less than 315k being listed for 275 to stimulate a bidding war and then getting 320k.

Keeping a spreadsheet of prices etc but struggling to notice a discernible pattern.
Yep, I think it's all very odd at the moment too. Huge differences in prices between very similar properties but listed by different EAs, and sellers really underestimating how much work needs to be done to their houses. I know your home is your castle and people can be blinkered about it but some of the houses we have seen need a lot of work to make them suitable for modern family living, especially as there is houses in much better condition coming on the market too.
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24-01-2020, 09:33   #19
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I sold my place 3 years ago now, but in order to move I needed a certain minimum price. For example (using random round numbers), let's say there was 100k left on the mortgage, and I needed 50k deposit for my next place. So I couldn't afford to sell for any less than 150k. I didn't have to move, and wasn't under any particular time pressure to move, so if I didn't get my minimum I'd just have stayed put.

Thankfully in my case, my "minimum" was a bit below market rate so it worked out for me, but if your minimum was above market rate I could see why people would reject offers if there was no real pressure on them to move.
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24-01-2020, 11:37   #20
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One of the houses we are keeping an eye on, where the sellers are not looking at anything below asking has been re-listed today. As in they took down the ad and posted it again so it would look like it's only listed from today - it's the same price too. This is the second time the EA has done this, I save the email alerts so I know for a fact it was first listed in September and then re-posted at the end of November - and now again today.

*sigh* I really do not enjoy house hunting!
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24-01-2020, 11:37   #21
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Yep, I think it's all very odd at the moment too. Huge differences in prices between very similar properties but listed by different EAs, and sellers really underestimating how much work needs to be done to their houses. I know your home is your castle and people can be blinkered about it but some of the houses we have seen need a lot of work to make them suitable for modern family living, especially as there is houses in much better condition coming on the market too.
Some vendors of houses in need of major renovation are expecting to achieve the same price as others nearby in turnkey condition. It is these vendors that reality will bite if the market takes a downturn. A sharp drop in prices might not happen but, some vendors may regret not accepting that low offer when they had the chance...
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24-01-2020, 11:40   #22
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Some vendors of houses in need of major renovation are expecting to achieve the same price as others nearby in turnkey condition. It is these vendors that reality will bite if the market takes a downturn. A sharp drop in prices might not happen but, some vendors may regret not accepting that low offer when they had the chance...
That's exactly it I think - that a lot of vendors think sure my house is just lovely and the house across the road sold for x amount so I should get more - not realising that there are reasons that means their house is not as attractive, especially given all the new builds coming on the market.
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24-01-2020, 11:41   #23
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One of the houses we are keeping an eye on, where the sellers are not looking at anything below asking has been re-listed today. As in they took down the ad and posted it again so it would look like it's only listed from today - it's the same price too. This is the second time the EA has done this, I save the email alerts so I know for a fact it was first listed in September and then re-posted at the end of November - and now again today.

*sigh* I really do not enjoy house hunting!
I feel your pain!

I've seen this happen a lot. Old advert deleted, and a new one created. Often wondered how this impacts the reporting of house figures - numbers of sales and the prices the come up at. there is an estate agent in south Dublin area doing this a lot. Sometimes a search of the address on google brings up old adverts for it.

I can understand from a perspective of selling why its done, but I don't think it does anyone any favours. Particularly as anyone looking will already be familiar with the property.
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24-01-2020, 11:48   #24
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I can understand why they do it too but yes, I don't think it does any favours. It makes it look like they are hiding something and as you said, people who searching will already know it's been re-listed.

It's just so frustrating, we have our mortgage approval ready to go, a 20% deposit sitting in the bank and I'm waiting for properties to come on the market - an email alert comes in and I think ooh, promising and then it's the same houses over and over again!
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24-01-2020, 11:55   #25
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A house I was keeping an eye on lowered the asking price recently. However, the refresh date on the ad on myhome.ie is still a few months ago, and the price change isn't registered as a price drop. Means the only people who know the price has been reduced are those who were already looking at it.

The EA is insisting that a house I put an offer on is worth the asking price based on other house sales in the same estate. However, those houses had conservatories, decking, landscaping, newly paved driveways etc that the house I am offering on does not have.
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24-01-2020, 12:00   #26
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100% agree with you, and in the exact same boat. Need to re-apply for approval now too and not confident I'll find anything.

Pretty much every house I have gone to see has had huge flaws with it, and the vendor thinks they are going to get top dollar for it.

One house was immaculate - and the pictures were amazing. Yet when we viewed it, the rooms had been greatly reduced in size to accommodate a larger living area, making some of the bedrooms unusable for anything bigger than a small toddler. You hadn't a hope of getting even a regular sized single bed into one of them. The fixtures and fittings were cheap and tacky looking despite how they were portrayed in the photographs. the inside was remodled totally and it actually was detrimental to the overall layout. The house was asking 30k over what other houses in the same estate sold for and the vendors were refusing good offers below asking. House has been on the market since July and got a very good offer 15k below asking, and 5k over what the most expensive house in the same estate went for. This other house was a 4 bed detached and in turnkey condition, where as this one is a 3 bed and much smaller and badly laid out.

Add 15k to their asking price and you can buy a brand new fully fitted house in a brand new estate 2 minutes away from this one, with better layout and better facilites.
The mind boggles.
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24-01-2020, 12:03   #27
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I'm looking at houses that when compared to other houses nearby have things like:

a substantially lower BER
only one bathroom (i.e. no downstairs toilet)
a separate dining room and quite a small kitchen (when other houses have already been converted)
a north facing garden

and they're looking for 30k- 40k more than other houses. It just doesn't make sense. When we were selling our house I was aware what houses near me were selling for or going on the market for and would have been aware of a price difference like that. Again, I think some of it is people who think well my house is lovely so people will want to pay more for it when really, it's not set up for what a lot of buyers are looking for.

I have no issue with doing up a house over time but if work needs to be done it should be reflected in the price.
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24-01-2020, 12:13   #28
Kamili
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The EA is insisting that a house I put an offer on is worth the asking price based on other house sales in the same estate. However, those houses had conservatories, decking, landscaping, newly paved driveways etc that the house I am offering on does not have.
I had similar with the EA, who then demanded to know exactly how much I had been approved for and wouldn't accept a redacted version of my approval letter. Insisted on knowing the exact amount and wouldn't accept my bid until I provided this exact figure. There were no other bidders on the property at all. I contacted my solicitor over it and they were less than impressed. they provided a strongly worded letter to the EA, proving I had funds, which the EA reluctantly accepted. I genuinely felt the EA was trying to use that letter against me to push up the price.

I walked away. House needed a lot of work and would have been ok if I had got it at around my offer price.

It did sell a few months later after the asking price was greatly reduced, but from the online bidding site used, it looks like the bidder was bidding against themselves on it.
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24-01-2020, 12:17   #29
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I gave up on anything that looked like it was ready to move into. Bought a place with peeling wallpaper and non functioning gas boiler. Spent about 30k on renovations but didn't have to deal with a bidding war or any messing about.
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24-01-2020, 12:23   #30
rusty cole
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at the rate dublin city council will buy houses and above the market price too, dont be surprised if you're outbid by them and they snap it up and give it to sum sham for feck all rent!!! or to house some poor unfortunate family not of these shores!!

If you can live with it and you're just not willing to pay the asking on principle, id swallow the pride if it was somewhere I liked and pony up, what can you do.

That's what happened to us anyway.

The alternative is you end up in a cue for a new development and both you and a ton of others move into a new estate, 10% of which are freeloaders and the rest are new families..cut to 10 years and it's kip and you're tied to it!
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