€111,000 for council house in high unemployment area

celticcrash · 28-09-2012 12:41pm #1

111,000 for council house in a high unemployment area, where crime is quiet common. Thats the price they gave me if I wanted to buy my house.
Oh and I got a nice letter with that saying that if I disagree on the price that I would have to pay them 600 to them think about it and that the council would have the last say. I have already sent in a independent value of 85,000.
They must be insane if they think that I am going to pay anything near that.

RATM · 28-09-2012 2:51pm

OP without knowing the area or the size of the house it is difficult for posters here to ascertain the value of the place.

But if it is as crime ridden as you say then €111k would seem excessive, even in parts of Dublin city center.

The council are adding a premium as you are a 'special purchaser' as you would be buying it as a home already lived in. Therefore it holds more value for you - or so they think.

celticcrash · 28-09-2012 4:16pm

Its in Limerick City, a three bedroom end of terrace house.
One of the bedrooms is a small box room.
I cant give specific location as some how I am going to fight them on this.

You see some people in the council made a mint during Limerick regenration.
Limerick city council bought up a lot of houses that were on the market.
A lot of these houses were belonging to people who work for the city council.
So they kept the prices inflated and LCC paid top asking prices for these houses.

And now they are looking for more suckers to keep the prices of houses inflated.
Well sorry LCC I wont be linen your pocket.

tanyabond · 28-09-2012 4:46pm

Crime ridden area(!!!), three bedroom end of terrace, small room, 111k price tag - I would definitely look elsewhere...

Turbulent Bill · 28-09-2012 5:44pm

RATM wrote: »

The council are adding a premium as you are a 'special purchaser' as you would be buying it as a home already lived in. Therefore it holds more value for you - or so they think.

Along the same lines, I wonder if the council are applying a premium as you (presumably) rented below market value, and they're now trying to claw back some of their investment in the house now you have the finance to buy? No idea whether this is the case and it sounds unjustified, but it maybe possible?

foxy06 · 28-09-2012 7:28pm

op is that before or after your discount?

celticcrash · 28-09-2012 8:14pm

foxy06 wrote: »

op is that before or after your discount?

The discount is not relevant. LCC are saying the market value is 111,000 which I find is way over priced for a house in a high unemployment area.

I only wanted to know what people taught of paying 111,000 for a council house.
And no one has a say on the value of the house but them.
In doing so they have monopolised a big percentage of the market for themselves. Its manipulation of the market on a grand scale.

foxy06 · 28-09-2012 9:47pm

You didnt say that was the market value you said that was what they wanted you to pay for it. Makes a massive difference if your getting a 30% discount on the market value. I just wanted to know if 111k was before or after a discount of up to 30&.

If it helps your enquiry though I have asked about purchasing my council house, similar situation but its in a Dublin commuter town. Not the worst for crime but the area does have a bad reputation. Its a 3 bed end of terrace with a very large garden and side entrance big enough to extend on. Also has a small room downstairs I use as a playroom but not really big enough for a single bed with anything else. I was given a price of €125k. I like the house and the area and I am happy with the value and am in the process of purchasing but if I was in your situation and not happy with the area I would not pay 111k for it. Once you buy off the council its not easy to move on.

jimmycrackcorm · 29-09-2012 8:43pm

It's very simple op, if you can buy a better house for cheaper elsewhere then do so. Otherwise I don't see how you can tell the council what price they should sell at.

If you are so sure that it should be lower then pay the fee to have them re-think it.

celticcrash · 29-09-2012 11:38pm

jimmycrackcorm wrote: »

It's very simple op, if you can buy a better house for cheaper elsewhere then do so. Otherwise I don't see how you can tell the council what price they should sell at.

If you are so sure that it should be lower then pay the fee to have them re-think it.

I am not telling the council at what price to sell at.
I disagree with the price. Even if I get all the valuers in Limerick to say, its market price is lower, LCC wont accept any out side influence.
Lets put it this way, if the house prices dropped say 40% in Limerick since 2007 than that means that my house was worth 200,000 back than. LOL.
My neighbour bought his in 2006 for 122,000 that means LCC have only reduced the price by 8-10%.
600 for them to revalue the house and give me a second slap in the face, no thank you.
If they were selling the house on the open market than they have the right to ask any price that they want but its not open market.
At the moment they have the power to act the bully against any individual
who wants to buy off them.
I think I will wait a few more years, because houses are only going in one direction. And I may have to pick another house.
Sorry for the rant but I just wanted to show the wrongs when dealing with
Limerick city council housing department.

Villa05 · 30-09-2012 8:31am

celticcrash wrote: »

Its in Limerick City, a three bedroom end of terrace house.
One of the bedrooms is a small box room.
I cant give specific location as some how I am going to fight them on this.

You see some people in the council made a mint during Limerick regenration.
Limerick city council bought up a lot of houses that were on the market.
A lot of these houses were belonging to people who work for the city council.
So they kept the prices inflated and LCC paid top asking prices for these houses.

And now they are looking for more suckers to keep the prices of houses inflated.
Well sorry LCC I wont be linen your pocket.

I've always suspected this was going on. The property price register will make very interesting reading.

riclad · 30-09-2012 10:00am

i presume you mean they kept council houses high,
maybe they were just stupid.
Dublin city council were paying over 200k to developers
for new houses be4 the crash.
See , what is the price of a 3bed house in a private estate,in the area.
i read article ,re lyin eyes ,woman who was released ,living in limerick.
it said her apartment bought for 250 k approx , was worth around 50k now.
GO and see your labour td for advice.
IN dublin you get x per cent off price for each year
you rented ,up to a certain limit
A corporation house should be at least ten per cent
less than a house in a private estate
i think people in dublin, tenants could buy a council house for less than 100k.
LOOK on daft ie ,limerick ,its easy to check the house prices
in an area ,look at 6 houses same size, similar age.
or ask an estate agent to value your house .
You might get better value buying a house on the open market,
at least you can haggle, house eg for 100k, offer 85 k etc

jimmycrackcorm · 30-09-2012 6:03pm

Op, they are not acting the bully no more than anyone else who decides what price they wish to sell at.

celticcrash · 04-10-2012 3:20pm

The Property Price Register has put some light on this.
Limerick City Council want to charge me 111,000 for a 3 bedroom house.
Others in my area that were sold in the last 3 years.
78,000
77,000
55,000
52,000
35,000
The property price register shows that Limerick city council are trying to hold up the price of houses in Limerick
through regenration.
Yet the property they bought last year for regenration in my area has not turned up on the PPR.
Can someone just ask for information from LCC Like who many houses were bought for limerick regenration, were and at what prices?

boiledsweets · 04-10-2012 3:25pm

I have seen some houses in limerick (in the ballynanty area,and moyross near troubled families) go for 70,000,one was even for 55,000 , the sellers were desperate to get out of the area and probably into apartments near the city centre,as they were probably sick of all the anti social BS in the area where they lived.

Given that,i think(and seeing your price guide,you obviously did your own research),the price of 111k is way too excessive it should be down to at least 90,000 and that would be pushing it..

Gurgle · 04-10-2012 3:27pm

celticcrash wrote: »

111,000 for council house in a high unemployment area, where crime is quiet common. Thats the price they gave me if I wanted to buy my house.

The area sounds like hell, why would you want to buy the house at any price?

If you're thinking you can turn it around quick and make a profit, that really doesn't work any more.

Do you really want to be stuck there for a couple of decades? Raise some kids there?

D3PO · 04-10-2012 4:14pm

OP seriously stop whinging.

you have a choice pay or dont. Nobody is forcing you to buy this house.

loyatemu · 04-10-2012 10:07pm

is this some sort of scheme where the council provide the mortgage? if so perhaps the OP can't get the money to buy a cheaper house elsewhere.

looking at both sides, councils are all short of social housing and have long waiting lists for it. They can't build any new ones and are probably restricted in what they can buy - maybe they don't want to sell it.

celticcrash · 05-10-2012 1:09am

D3PO wrote: »

OP seriously stop whinging.

you have a choice pay or dont. Nobody is forcing you to buy this house.

I have apoligised already for the rant and people have been kind enough to post something positive.
You on the other hand jump into a thread and post something negitive.
If you dont like what you hear than move along. Simples.

D3PO · 05-10-2012 9:08am

celticcrash wrote: »

If you dont like what you here than move along. Simples.

you need to heed your own advise.

if you dont like the price they are asking for move along. Simples.

riclad · 05-10-2012 10:23am

IS 110 k the final price,ie no discount for being a tenant ,for x amount of years.
MY experience is most council estates quieten down due to ,a ,the young people grow up, crime,anti social behavior decreases,
when x amount of houses are bought by tenants ,the estate becomes quieter ,
there s few new tenants with young children moving in.
So in ten years time that estate may be much safer.
Most crime is committed by people under 25.
OF course some estates can be taken over by crinimals ,so the best tenants ,or working people
move out.
i know people who live on a council estate ,95 per cent houses bought by former tenants and its almost like living in any estate , in dublin.its quiet.
you might get a better price buying a private house
or look at allsop s auction s, they have a website
with listings ,theres an auction every 2 months.
http://www.allsop.co.uk/283/irish-auctions

loyatemu · 05-10-2012 12:06pm

riclad wrote: »

IS 110 k the final price,ie no discount for being a tenant ,for x amount of years.
MY experience is most council estates quieten down due to ,a ,the young people grow up, crime,anti social behavior decreases,
when x amount of houses are bought by tenants ,the estate becomes quieter ,
there s few new tenants with young children moving in.
So in ten years time that estate may be much safer.
Most crime is committed by people under 25.
OF course some estates can be taken over by crinimals ,so the best tenants ,or working people
move out.
i know people who live on a council estate ,95 per cent houses bought by former tenants and its almost like living in any estate , in dublin.its quiet.
you might get a better price buying a private house
or look at allsop s auction s, they have a website
with listings ,theres an auction every 2 months.
http://www.allsop.co.uk/283/irish-auctions

allsop auctions are cash only, so no use to anyone who needs to take out a mortgage

€111,000 for council house in high unemployment area

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