Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

Graham · 26-03-2020 8:34am

teddy_irish wrote: »

You should watch this carefully : https://www.youtube.com/watch?v=0yZ5mjbB11I
Best Documentary of the Housing Market Crash (of 2020?) | Inside the Meltdown | Behind the Big Short

I am particularly impressed that a video uploaded in 2017 purports to document something that hasn't happened in 2020. :rolleyes:

IvoryTower · 26-03-2020 9:21am

Monumental wrote: »

Seller here ,deposit paid by buyer Asking price reduced by 10,000 Survey being done tomorrow Fingers crossed !

Fair play, seems like a good move to get it over the line

IvoryTower · 26-03-2020 9:21am

Monumental wrote: »

Seller here ,deposit paid by buyer Asking price reduced by 10,000 Survey being done tomorrow Fingers crossed !

Fair play, seems like a good move to get it over the line

Mic 1972 · 26-03-2020 10:27am

Monumental wrote: »

Seller here ,deposit paid by buyer Asking price reduced by 10,000 Survey being done tomorrow Fingers crossed !

smart decition to act quickly on the price reduction, you won't regret it

milhous · 26-03-2020 10:40am

https://www-thejournal-ie.cdn.ampproject.org/v/s/www.thejournal.ie/ireland-recession-pandemic-5058011-Mar2020/?amp_js_v=a3&amp_gsa=1&amp=1&usqp=mq331AQFKAGwASA%3D#aoh=15852154172206&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.thejournal.ie%2Fireland-recession-pandemic-5058011-Mar2020%2F

Yeh I'd say property prices are nice and stable. Nothing to see here.
Why someone would buy now is beyond me.! If you're worried about the banks not giving you a mortgage in a few months, it's probably with good reason. You can't afford it.. Be it the risk of your job or not having enough of a deposit...

Sheeps · 26-03-2020 11:22am

milhous wrote: »

https://www-thejournal-ie.cdn.ampproject.org/v/s/www.thejournal.ie/ireland-recession-pandemic-5058011-Mar2020/?amp_js_v=a3&amp_gsa=1&amp=1&usqp=mq331AQFKAGwASA%3D#aoh=15852154172206&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.thejournal.ie%2Fireland-recession-pandemic-5058011-Mar2020%2F

Yeh I'd say property prices are nice and stable. Nothing to see here.
Why someone would buy now is beyond me.! If you're worried about the banks not giving you a mortgage in a few months, it's probably with good reason. You can't afford it.. Be it the risk of your job or not having enough of a deposit...

Thanks for your advice. Maybe I should just resign myself to moving back out of the folk's home in another decade when I'm 43 so it's nice and safe for you, despite me having spent the last half a decade of my life on hold, whilst I saved almost triple the deposit the median earner would save for a house living the most frugal lifestyle I can.

The additional hidden savings of my missus not being able to have kids at that stage of our lives will save us even more money in the long run...

Let me help you with your understanding. Even if there's a short to medium term downturn in house prices and affordability. The prospect of negative equity for a while is far more palatable to people's current living situation. If you can afford a home in this market, the odds are you are not in the type of job that will be affected by the closure of the service industry.

Plumbthedepths · 26-03-2020 11:30am

ERSI predicts the economy to retract by over 7 % . Recession coming soon.

milhous · 26-03-2020 11:53am

Sheeps wrote: »

Thanks for your advice. Maybe I should just resign myself to moving back out of the folk's home in another decade when I'm 43 so it's nice and safe for you, despite me having spent the last half a decade of my life on hold, whilst I saved almost triple the deposit the median earner would save for a house living the most frugal lifestyle I can.

Nice and safe for me..? It won't make a difference to me. I was just offering advice.. These posts are like a car crash.
I'm just waiting to buy a second property, have been waiting for this turn down for some time. Just another 6-12months should save 100k or so where I'm looking.

But of course, by all means, Buy right now before the market takes a tumble. It just feels like the right thing to do I suppose

Limpy · 26-03-2020 12:12pm

I remember seen load's of old farmhouses sold. As the recovery came these junk stocks were doubling in price. A 2 bed rural home near me was purchased for 48k in 2014 and put back on the market in same condition for 160k in 2016!!

Id imagine these type of properties will fall the most. What about holiday homes, id imagine Covid19 will be around for a long time. People would holiday more in Ireland so they might be a good investment.

Necronomicon · 26-03-2020 12:13pm

We went sale agreed before all the madness started (buyers). The sale stalled because of some contract issues, and while it's stalled the whole market situation has led to some soul searching. We have a baby on the way and living with parents, so really want our own space ASAP, but it's hard not to be spooked.

Thankfully I'm in a stable job situation, and this is a medium-long term purchase, so while the idea of negative equity gives me the heebie jeebies, we're proceeding for now (pending resolution of the contractual stuff). But I'd be lying if I said we didn't consider pulling out and waiting to see if we could get something cheaper (or bigger) a few months down the line.

Reversal · 26-03-2020 12:28pm

Sheeps wrote: »

If you can afford a home in this market, the odds are you are not in the type of job that will be affected by the closure of the service industry.

It is NOT just jobs in the service industry that will be lost. Initially that may be kind if true (plenty of high paid workers have taken a hit too), but if a recession is as likely and severe as the ESRI are forecasting, large, medium and small businesses will be cutting their cloth to measure.

None of us can assume our jobs are safe, unless in the public service maybe, and even then pay cuts could be on the cards when it's time to pay back for all this mess. If you're sure your job is safe, great. However, no matter what job I was in I would not be assuming my income is secure over the next 18 months. What people choose to do, and what's best for them is totally a matter for the individual. But an assumption that their job is above this crisis would be a dangerous one to make.

jrosen · 26-03-2020 12:33pm

There are many people who bought peek prices last time, spent years in negative equity and its made no difference to their lives. The value of a house is only relevant if your selling or buying. If your happy with your purchase, the property has the location and access to amenities you require and will require for the foreseeable then for some people they will be happy to proceed.

We are locked in so really cant do anything anyway.

Uglysoik1 · 26-03-2020 12:35pm

Hooray! -- Finally the bank has released funds this morning. Hopefully will the keys early next week. It's been a long journey single applicant, delay after delay but finally got to the end. I thank everyone on this thread and boards.ie in general.

jrosen · 26-03-2020 2:57pm

Uglysoik1 wrote: »

Hooray! -- Finally the bank has released funds this morning. Hopefully will the keys early next week. It's been a long journey single applicant, delay after delay but finally got to the end. I thank everyone on this thread and boards.ie in general.

Good for you

Nijmegen · 26-03-2020 3:23pm

Right at the end zone on both selling and buying, surveys done on both ends but really rather worried our buyers will either pull out or make demands that will throw the whole thing off, they’ve kind of gone radio silence since contracts were issued. On both our side and theirs employment is secure (as can be) but they may well decide to wait it out as they’re FTBs.

Not really worried on our side about a house price dip as it’s a long term / forever home and want to secure it but sure look, if we can’t buy it now or need to go in on the price due to a change in our sale price so be it, we’ll all be in that boat. Would be nice to have to borrow less so it’s kinda whether you want the cookie now or potentially a cookie later, but what you definitely don’t want is a general freezing up of the property market. Would rather be among the last transactions than sit still in a house we were happy to say goodbye to in favour of one we love as a match for our next chapter.

Nerve wracking to say the least.

D'Agger · 26-03-2020 4:01pm

People going ahead with their sales - can I ask were you successful in getting the price re-negotiated

Currently sale agreed, with 98% of the banking work done - have to send a final form to complete tomorrow. Haven't spoken to the EA, want to secure financing first and foremost before I have that conversation.

0gac3yjefb5sv7 · 26-03-2020 4:10pm

Thinking of doing the same. Sale Agreed 16k over asking. I bet when I ask the EA, he will just say the seller has another offer and won't negotiate

givyjoe · 26-03-2020 4:26pm

Pheonix10 wrote: »

Thinking of doing the same. Sale Agreed 16k over asking. I bet when I ask the EA, he will just say the seller has another offer and won't negotiate

Try anyway.

jrosen · 26-03-2020 5:06pm

We are new build and no chance of any price change as we are tied in and the builder knows it. But if I had any chance of getting a better price id go for it. Worst that can happen is a no

Claw Hammer · 26-03-2020 5:10pm

Nijmegen wrote: »

Right at the end zone on both selling and buying, surveys done on both ends but really rather worried our buyers will either pull out or make demands that will throw the whole thing off, they’ve kind of gone radio silence since contracts were issued. On both our side and theirs employment is secure (as can be) but they may well decide to wait it out as they’re FTBs.

Not really worried on our side about a house price dip as it’s a long term / forever home and want to secure it but sure look, if we can’t buy it now or need to go in on the price due to a change in our sale price so be it, we’ll all be in that boat. Would be nice to have to borrow less so it’s kinda whether you want the cookie now or potentially a cookie later, but what you definitely don’t want is a general freezing up of the property market. Would rather be among the last transactions than sit still in a house we were happy to say goodbye to in favour of one we love as a match for our next chapter.

Nerve wracking to say the least.

The time to move upmarket is in a recession. The gap between what you buy for and what you sell for will be at the minimum.

chevra13i · 26-03-2020 5:13pm

jrosen wrote: »

We are new build and no chance of any price change as we are tied in and the builder knows it. But if I had any chance of getting a better price id go for it. Worst that can happen is a no

Have you signed yet? We're buying a new build but we've only paid the 5k deposit so far so we still have the chance to pull out if prices start dropping before all the contracts are sorted. I just feel like we'd be mad to move forward with buying at a price agreed in early Feb the longer this Covid situation rumbles on.

o2bearebel · 26-03-2020 5:14pm

jrosen wrote: »

We are new build and no chance of any price change as we are tied in and the builder knows it. But if I had any chance of getting a better price id go for it. Worst that can happen is a no

We've 10k deposit down on a new build. Due to sign contracts in next 1-2 weeks. Not sure what to do. Anyone have any luck in getting a price drop on new builds ? We're renting at moment and mortgage approved. Surely, they'd be willing to give some discount ?

Nijmegen · 26-03-2020 5:28pm

Claw Hammer wrote: »

The time to move upmarket is in a recession. The gap between what you buy for and what you sell for will be at the minimum.

Yeah but I don’t fancy waiting 2 years between the time the market comes down, freezes up a little in terms of number of units to sell, and the time lag on completing a sale when you do go again; we want to get on with settling in to our home and working on family rather than be hanging around. The market price fluctuations aren’t gonna be 2008 levels most likely.

Maitguel · 26-03-2020 7:09pm

Would be interested to hear from those that have pulled off of sales whether their jobs had been impacted ie reduced hours or been laid off? Or are they just hoping that similar properties will be cheaper in 6/12 months time? Did you feel you were already over paying for what you were getting?

I agree with the previous poster that the lending rules have saved a lot of people and will mean that the numbers of defaulters will be less than post 2008 crash. For most their mortgages will still be affordable even if they have to take on a tenant or alter their lifestyle. Worse case scenarios personal insolvency arrangements start off with write down to market value so those really struggling post Covd19 there are a lot more safe nets out there than before.

Dolbhad · 26-03-2020 7:23pm

Maitguel wrote: »

Would be interested to hear from those that have pulled off of sales whether their jobs had been impacted ie reduced hours or been laid off? Or are they just hoping that similar properties will be cheaper in 6/12 months time? Did you feel you were already over paying for what you were getting?

I was sale agreed about a year ago on new build. It didn’t suit me with location so pulled out and was looking for something better. This has impacted both my job and my partners. I was meant to be laid off last week but instead have reduced working hours so that’s an improvement.

I work in legal so it’s areas like this that are affected which you may not think would be impacted so quickly. Himself is in retail. Wished I had moved quicker and got a mortgage and bought a house. I don’t expect to be in a position to buy until things improve.

This is different to the last recession - it’s been so quick and has literally paused the economy. I don’t think there are any “safe jobs” unless on front line of healthcare.

jrosen · 26-03-2020 8:19pm

chevra13i wrote: »

Have you signed yet? We're buying a new build but we've only paid the 5k deposit so far so we still have the chance to pull out if prices start dropping before all the contracts are sorted. I just feel like we'd be mad to move forward with buying at a price agreed in early Feb the longer this Covid situation rumbles on.

Yes we have, full deposit paid some weeks ago. Snag done. We are just waiting on some silly hiccups really. We did look for some wriggle room with price when we bought but they had no interest. We are locked in now and not much we can do.

If however you have only paid your booking deposit I would certainly look to haggle.

IvoryTower · 26-03-2020 9:24pm

Dolbhad wrote: »

This is different to the last recession - it’s been so quick and has literally paused the economy. I don’t think there are any “safe jobs” unless on front line of healthcare.

Health and food trucking away

Logan Roy · 26-03-2020 9:28pm

Dolbhad wrote: »

I was sale agreed about a year ago on new build. It didn’t suit me with location so pulled out and was looking for something better. This has impacted both my job and my partners. I was meant to be laid off last week but instead have reduced working hours so that’s an improvement.

I work in legal so it’s areas like this that are affected which you may not think would be impacted so quickly. Himself is in retail. Wished I had moved quicker and got a mortgage and bought a house. I don’t expect to be in a position to buy until things improve.

This is different to the last recession - it’s been so quick and has literally paused the economy. I don’t think there are any “safe jobs” unless on front line of healthcare.

Posts like this show how oblivious most people are to the inner workings of large MNCs. It takes a huge amount of time to build up the expertise and knowledge in an organisation to run operations for Europe, there may of course be hiring freezes but a lot of these jobs are safe as the show must go on (even if there is somewhat reduced demand for products and services).

Dolbhad · 26-03-2020 9:51pm

Logan Roy wrote: »

Posts like this show how oblivious most people are to the inner workings of large MNCs. It takes a huge amount of time to build up the expertise and knowledge in an organisation to run operations for Europe, there may of course be hiring freezes but a lot of these jobs are safe as the show must go on (even if there is somewhat reduced demand for products and services).

I don’t think it’s being oblivious. I have a lot of friends and families working in MNC’s and I deal with MNC’s through work. It’s not endless money even with those companies. Most of those are linked to the American economy and a big shock to that economy will impact here. Not every job will be secure.

My point here is Covid 19 is effecting every area of economy and it’s been so quick on the impact.

A month ago we were all debating when the next drop would be and whether it would be linked to funding, supply etc. This wasn’t really on the radar nor would we have thought how quickly it changed things.

Even during the hardest times of recession, retails shops were opened and pubs/cafes were opened and money was spent in the economy at some level. There was never the fear for our health. Not to mention it’s having the same impact on most countries economies putting things on pause.

I was trying to make the point that we haven’t come across this before so who knows. We could all bounce back as quickly as it went to hell. Or it could be years of cuts and 2008 financial crash will seem nothing in compared to this.

We have an obsession with house buying and rightly so with the history we have. But it’s always going to be the same. If you can afford the mortgage (which is much more likely now due to the CB rules) and it’s a long term family home, buy the house. Some people can’t wait this out and some can. I’d never tell someone to hold off or judge them for deciding to continue with a purchase or holding off. Every person’s circumstance is different.

But I don’t either of us can say for certain we will have a bank of “safe” jobs.

Ubbquittious · 27-03-2020 12:14am

The solicitor for the seller I am trying to buy off is working from home, which seems to have slowed him down considerably

Surveyor recently came back from Land's Rotty or one of them places and was supposed to be self isolating. But got around that, hopefully I got no free coronavirus thrown in with the survey

There is someone (not the actual owner) still living in the house, self isolating from the corona because of high risk. The house is in a lovely isolated place far away from the maddening crowd with a bitteen of land around it so really ideal for that kind of craic but this will most likely mean I won't get it until the corona passes.

There's a bit of argy bargy about the border, the entrance being on someone elses land and a similar story with the well. No idea how that will be cleared up. Hopefully it won't require the assistance of anyone whose business is shut down because of the corona

73trix · 27-03-2020 12:33am

Put an initial offer on a house yesterday at 8% below asking price and sellers came back this evening with a drop of 2% so we know we'll have to come up with ours somewhat. We made the point about the risk of prices dropping at least 10% and as someone who's already been in negative equity prior, having a level of nerves about overpaying. Apparently we're the only offer in and sellers have decided not to allow more viewings for now due to Covid. Trying to gauge how measured to be with offers.. We heard from a reliable source today that one of the pillar banks has advised their valuers to knock 10% off the value of houses. We don't want to seem too eager but don't want to come across as too hesitant either. We could put in another modest increase tomorrow rather than jump too quickly towards their figure or should we wait til Monday to buy time? I was expecting a bidding war so didn't think we'd be the only party involved. Any advice welcome.

all about the mane · 27-03-2020 12:37am

73trix wrote: »

Put an initial offer on a house yesterday at 8% below asking price and sellers came back this evening with a drop of 2% so we know we'll have to come up with ours somewhat. We made the point about the risk of prices dropping at least 10% and as someone who's already been in negative equity prior, having a level of nerves about overpaying. Apparently we're the only offer in and sellers have decided not to allow more viewings for now due to Covid. Trying to gauge how measured to be with offers.. We heard from a reliable source today that one of the pillar banks has advised their valuers to knock 10% off the value of houses. We don't want to seem too eager but don't want to come across as too hesitant either. We could put in another modest increase tomorrow rather than jump too quickly towards their figure or should we wait til Monday to buy time? I was expecting a bidding war so didn't think we'd be the only party involved. Any advice welcome.

I wouldn’t make another offer for now. Just bide you’re time. Time is on your side.

Queasy Tadpole · 27-03-2020 1:00am

Took ours off the market today. Not having viewings and potentially hundreds of people coming through our doors. I suspect the house will sell for less when we're back on the market but that's life.

DaveyDave · 27-03-2020 1:09am

Our floor supplier is closed until further notice and IKEA aren't delivering bulky furniture, now getting the keys early will be for nothing

Bit strange they'll deliver a bed but not the mattress...

jrosen · 27-03-2020 1:17am

DaveyDave wrote: »

Our floor supplier is closed until further notice and IKEA aren't delivering bulky furniture, now getting the keys early will be for nothing

Bit strange they'll deliver a bed but not the mattress...

our floor company will supply and fit. once they heard it was a new build and no one be living there they are happy to proceed. You a new build?

DaveyDave · 27-03-2020 1:29am

jrosen wrote: »

our floor company will supply and fit. once they heard it was a new build and no one be living there they are happy to proceed. You a new build?

Yeah. They were originally limiting to new builds only but now on hold indefinitely unfortunately. I suppose we'll have to wait a while and see what happens.

gavvvvers · 27-03-2020 2:14am

Hey - looking for a bit of advice. Myself and my gf are about to place reserve on house in Maynooth - new build which will be ready in December. The price was already good relative to other comparable properties but we are now starting to wonder, are we mad to be progressing a sale with everything going on?

We are eager to keep pushing forward, especially because we love the house but is it reasonable to negotiate a discount given the potential outlook of economy and property market? Should we play hard ball and refuse the full asking?

wirelessdude01 · 27-03-2020 8:35am

DaveyDave wrote: »

Our floor supplier is closed until further notice and IKEA aren't delivering bulky furniture, now getting the keys early will be for nothing

Bit strange they'll deliver a bed but not the mattress...

We are kinda in the same boat. Place where we bought our flooring is still open so going to collect that either today or tomorrow but carpet place is shut, two places where we bought bedding and couches aren't delivering. However we think we can still have our mattresses and dining table/chairs delivered. Getting keys either this evening or Monday.

Haven't even looked at white goods yet as things had been so much up in the air.

Anyone got any idea if broadband installs are still going on?

27-03-2020 8:45am

gavvvvers wrote: »

Hey - looking for a bit of advice. Myself and my gf are about to place reserve on house in Maynooth - new build which will be ready in December. The price was already good relative to other comparable properties but we are now starting to wonder, are we mad to be progressing a sale with everything going on?

We are eager to keep pushing forward, especially because we love the house but is it reasonable to negotiate a discount given the potential outlook of economy and property market? Should we play hard ball and refuse the full asking?

Depends on what the demand is like, a reasonably priced nice new build in Maynooth would appeal to both home buyers and investors I would think. Make a lower offer, but be mindful that if demand is relatively high, the developer may be concerned about your ability to complete. During the last recession, cash buyers scooped up lots of properties, the same may happen this time.

TheSheriff · 27-03-2020 8:47am

73trix wrote: »

Put an initial offer on a house yesterday at 8% below asking price and sellers came back this evening with a drop of 2% so we know we'll have to come up with ours somewhat. We made the point about the risk of prices dropping at least 10% and as someone who's already been in negative equity prior, having a level of nerves about overpaying. Apparently we're the only offer in and sellers have decided not to allow more viewings for now due to Covid. Trying to gauge how measured to be with offers.. We heard from a reliable source today that one of the pillar banks has advised their valuers to knock 10% off the value of houses. We don't want to seem too eager but don't want to come across as too hesitant either. We could put in another modest increase tomorrow rather than jump too quickly towards their figure or should we wait til Monday to buy time? I was expecting a bidding war so didn't think we'd be the only party involved. Any advice welcome.

Don't make another offer, just wait it out.

merikahan · 27-03-2020 11:39am

gavvvvers wrote: »

Hey - looking for a bit of advice. Myself and my gf are about to place reserve on house in Maynooth - new build which will be ready in December. The price was already good relative to other comparable properties but we are now starting to wonder, are we mad to be progressing a sale with everything going on?

We are eager to keep pushing forward, especially because we love the house but is it reasonable to negotiate a discount given the potential outlook of economy and property market? Should we play hard ball and refuse the full asking?

you're talking about Mariavilla ?

gavvvvers · 27-03-2020 1:38pm

Yeah Mariavilla - but really what I want to know is, should we be holding on and pushing back on original asking price? Has anyone else had any experience getting a reduction on new build?

Nijmegen · 27-03-2020 1:57pm

gavvvvers wrote: »

Yeah Mariavilla - but really what I want to know is, should we be holding on and pushing back on original asking price? Has anyone else had any experience getting a reduction on new build?

The new build situation is going to be interesting to watch. Normally you'd say a recession would lead to emigration and an easing of the housing crisis, which in turn lowers demand and will bring prices down.

On the other hand, this is a global recession and if it's that bad, emigration isn't the same option as it was in 09 and it could also be a V shaped event that swings back quickly.

Glenveagh (public traded large developer) have suspended their guidance for this year, however they seem to be saying they believe their ability to complete houses will be the issue rather than demand - https://www.rte.ie/news/business/2020/0326/1126593-glenveagh-properties-on-virus/

They could hold on to stock and not move on the basis of wanting to see what occurs. If they can't complete, why respond to your lower offer now and just wait to try sell the house at market rate (which could very well be today's rate) in a few months when things are clearer? They have up to €240m in cashflow facilities to ride it out. And the housing crisis here is systemic, it would take extraordinary emigration to shift it.

Different situation for people trying to sell and buy 2nd hand.

beauf · 27-03-2020 2:13pm

wirelessdude01 wrote: »

We are kinda in the same boat. Place where we bought our flooring is still open so going to collect that either today or tomorrow but carpet place is shut, two places where we bought bedding and couches aren't delivering. However we think we can still have our mattresses and dining table/chairs delivered. Getting keys either this evening or Monday.

Haven't even looked at white goods yet as things had been so much up in the air.

Anyone got any idea if broadband installs are still going on?

I read the they won't enter a house except in exceptional circumstance.

Most Broadband i self install anyway.

Nijmegen · 27-03-2020 3:29pm

beauf wrote: »

I read the they won't enter a house except in exceptional circumstance.

Most Broadband i self install anyway.

And if you can't manage it they seem to still be sending out service engineers, eg Virgin Media https://www.virginmedia.ie/covid19/

When in your home our engineers will be wearing protective equipment, and will wipe down anything they come into contact with , they will also be adhering to social distancing guidelines.

DaveyDave · 27-03-2020 3:55pm

gavvvvers wrote: »

Yeah Mariavilla - but really what I want to know is, should we be holding on and pushing back on original asking price? Has anyone else had any experience getting a reduction on new build?

Is that the estate where people were pulling out because of the apartment block they didn't know about?

I'd say you could try as I don't think that estate was selling out like most in West Dublin or Kildare.

An estate agent called the girlfriend asking if we were still looking, obviously people are pulling out as we've been on that list for over two months.

beauf wrote: »

I read the they won't enter a house except in exceptional circumstance.

Most Broadband i self install anyway.

New builds don't seem to be set up for the customer to install themselves, not that I can see anyway. They're just a blank panel, although people seem to be ok doing new builds only.

Otherwise they'd just deliver package to you and you plug it in at an existing point.

merikahan · 27-03-2020 4:15pm

gavvvvers wrote: »

Yeah Mariavilla - but really what I want to know is, should we be holding on and pushing back on original asking price? Has anyone else had any experience getting a reduction on new build?

We've had put deposit for Mariavilla for next phase but going to pull out in next few weeks. We asked the Developer for any reduction in the price as we feel they are overpriced by 20-22%, but not much luck.

Nijmegen · 27-03-2020 5:05pm

merikahan wrote: »

We've had put deposit for Mariavilla for next phase but going to pull out in next few weeks. We asked the Developer for any reduction in the price as we feel they are overpriced by 20-22%, but not much luck.

If it's a development that was overpriced a few weeks ago, eg relative to the price per square foot in a comparable market, fair enough and if you don't need to make the move I'd go with it to see what washes out.

Maitguel · 27-03-2020 10:20pm

Just finalising my mortgage this week and the sense I got from my branch manager is that there could be a change coming in relation to mortgage lending so if you really want to be on the property market you may find it difficult later on in the year.

We are going to proceed in any event as the property is still good value all things considered and there will be still be other buyers out there despite the economy going to ****. Not everyone will lose their job and there will be work to be done once this is all over.

I can understand buyers in Dublin and surrounding areas wanting to hedge their bets, but it all depends on the particular properties. You will get cheaper properties after this but it might not be in the area you want

Mic 1972 · 27-03-2020 10:49pm

Maitguel wrote: »

Just finalising my mortgage this week and the sense I got from my branch manager is that there could be a change coming in relation to mortgage lending so if you really want to be on the property market you may find it difficult later on in the year.

We are going to proceed in any event as the property is still good value all things considered and there will be still be other buyers out there despite the economy going to ****. Not everyone will lose their job and there will be work to be done once this is all over.

I can understand buyers in Dublin and surrounding areas wanting to hedge their bets, but it all depends on the particular properties. You will get cheaper properties after this but it might not be in the area you want

It comes as no surprise to me, but a lot of people are still unrealistically convinced that banks will continue to led money. They won't

Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

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