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D7/8 Asking prices, any help?

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  • 30-11-2014 3:07pm
    #1
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭


    So I'm looking at getting something in the D7/D8 area, and need a bit of help with asking prices. There seems to be a couple of different strategies on the go. One is to ask high and presumable get as near to the asking as possible, where as another is to lowball generating interest and then the bidding seems to get a bit out of control.

    I'm looking at the bottom of the market to be fair, €250K or below. At that price you are really looking at a doer-upper, and I think the CGT exemptions have been pushing some silly offers here recently. We're in a little bit of an odd situation where we have a large deposit, low mortgage approval and large disposable income so assuming approval from the bank (indications on how willing they are to do this welcome) a doer-upper isn't too much of an issue.

    Anyway my point is - when you see a house up at 150Kish in d7 what should one be offering. It seems that there isn't much rhyme or reason, some one just want the house and bids go mad.

    D8 seems to be a bit of an odd kettle of fish, the asking prices are usually higher but the bids don't seem to be quite as mental.

    Sorry for such a vague OP, if the pieces of string cliches could be kept to a minimum I'd be obliged. Just looking for a bit of a steer and I've had some luck with you fine folks so here's hoping. Thanks in advance.


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    #2
    sabat
    Banned (with Prison Access) Posts: 2,896 ✭✭✭sabat


    If you check www.collapso.net there are a huge amount of properties in those postcodes showing reduced asking prices. My own take on it is that vendors and agents have overestimated how far they could push values in certain areas and are now being forced to take a reality check. Buyers seem to have (slightly) more cop-on this time around and when 600sqft terraced houses in Stoneybatter and Maryland are asking €300k they're deciding not to bother at all rather than try to borrow more.


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    #3
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    sabat wrote: »
    If you check www.collapso.net there are a huge amount of properties in those postcodes showing reduced asking prices. My own take on it is that vendors and agents have overestimated how far they could push values in certain areas and are now being forced to take a reality check. Buyers seem to have (slightly) more cop-on this time around and when 600sqft terraced houses in Stoneybatter and Maryland are asking €300k they're deciding not to bother at all rather than try to borrow more.


    Funny you should mention Maryland. This ended up going at over 156K. 99K asking. Although as soon as I saw the estate agent I knew it was a non-runner. No offence to the guy but every house he's ever at goes for mental money over asking, he actually seems quite genuine other than perhaps setting asking too low to drum up interest.


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