House Viewings

Mr.S wrote: »

Our experience is mixed with a few different estate agents - from the popular high street names, to smaller / independent ones.

Seems to be down to the individual agent if they are comfortable stretching the rules for viewings.

It’s not stretching the rules it’s breaking the rules and going against the rules of their governing bodies Psra ipav and scsi

It’s crazy at moment and I’m considering holding back for 6 months or a year. A house went on the market last Tuesday at 295k. I enquired on Thursday . Agent was off on Friday when I rang. She got back to me today. It went sale agreed last Wednesday at 347k. They took bidders over 335k on Wednesday and sale agreed on the day. Client decided to ignore any new bidders after Wednesday.

Baby01032012 wrote: »

It’s crazy at moment and I’m considering holding back for 6 months or a year. A house went on the market last Tuesday at 295k. I enquired on Thursday . Agent was off on Friday when I rang. She got back to me today. It went sale agreed last Wednesday at 347k. They took bidders over 335k on Wednesday and sale agreed on the day. Client decided to ignore any new bidders after Wednesday.

Thats nuts.
Ive a friend who wants to move back to her parents house because one of the parents is very sick and the other is frail and the traveling home 3 or 4 days a week is killing her. So they decided that they will move asap into the parents house and sell their own.
She said she needs to paint it up, tidy it up and do something with the back garden. Get it ready for sale.



I told her to just put it up as is and see how it goes. She doesnt want photos of a messy house visible to all the neighbors on the internet forever

I convinced her though. Shes going to ask the estate agent to show it without putting a for sale sign up in the next couple of weeks. She draws the line with photos going on the web of the mess in the rooms.


It will be interesting to see how fast it sells. The EA advised her to market it at €350k and see if it gets bid up.

FileNotFound wrote: »

Would have told her to paint and tidy, house 4 doors up went for 30k more than ours (1 week diff in sales), no difference but it was clean and painted and the one we bought looked rough.

We had viewed both - intended to gut so paint on walls meant nothing to us.

Bad pics/no pics would surely mean reduced footfall and then lesser bidding war no?

Dont think she cares. Shes more worried about the parent and wants it done quick. Her problem is she has so much stuff. Every room is packed with it. She would be ages thinning it out to paint. A few cracks in the ceilings look bad.
Most people think the house is falling down when they see them.
They are just settling and stress cracks and very, very easily repaired but they look bad.
If it doesnt sell quick she will just do all that and tidy it up and put it on the market properly.
I would buy myself, but its 30km away from where i want to live.

DTownD wrote: »

David McWilliams podcast today is on this very topic.

https://twitter.com/davidmcw/status/1374297833449394176

We're really considering purchasing at the moment and have a viewing for a property we are very interested in. We are highest bid. However I do think it's the wrong time and houses will come down in 18 - 24 months. But for us personally, it's the right time.

Hard to know.

I honestly have no idea where property prices are going, or if its better to rent. I can just guess. And I change my mind often.



But one thing i'll say to everyone is -
David McWilliams is a popstar.
He has no greater knowledge on the future of property prices, or the economy for that matter than Kim Khardasian does.
You may think his opinion carries weight. It doesnt. Put him in the middle of all the economists in Ireland and all you have is a gaggle of noise from them all with different opinions.


If he did have insight he would have been living in Barbados sunning himself every day on the profits his superior knowledge made for him. But no, he is still gigging and touring and marketing himself.

DTownD wrote: »

David McWilliams podcast today is on this very topic.

https://twitter.com/davidmcw/status/1374297833449394176

We're really considering purchasing at the moment and have a viewing for a property we are very interested in. We are highest bid. However I do think it's the wrong time and houses will come down in 18 - 24 months. But for us personally, it's the right time.

Hard to know.

I'm interested in David's opinions but, as another poster said, he's no oracle. No one really has a clue what's going to happen.

Easy for him to say "don't buy, don't look at Daft for 12-24 months" when you're sitting pretty in a big house in Dun Laoghaire. My mental health is starting to really suffer from living at home with my parents for nearly 3 years now, in my early/mid 30s. Factoring everything into account, and even factoring in a low to moderate decrease in prices in the next 2-3 years (or at least when this panic buying stuff is over) I'm still extremely tempted to go for it.

You're not just buying a property, you're buying stability. I'm utterly sick of looking at Daft. Agree with him that there are far better things to be doing with your Saturday mornings. And he says "rents have dropped- rent!"- yeah no thanks David, I still don't feel like paying €1500 a month for a crappy tiny 1 bed when a mortgage for a 2 bed would be almost half that, thanks for your opinion anyway though.

dkav9 wrote: »

usually a big fan of DMcW - but he has it wrong. renting is a balls, the rental market is not deflated.

In a slightly drunken state last Wednesday I accidentally requested to make an offer on an EA's website. They got back to me and told me the current bid was 80k above asking (300k)! I was shocked to say the least, and luckily I am not planning to buy for at least 6 months, but reading the comments on this thread I am happy to be reassured that this is a COVID thing and not a symptom of the market at large...

not sure its a covid thing ..People like mcWilliams have been calling bubble since 2017 (even do there was no easy accessibility to lending due to the Banking regulations) and scaring people from buying, yet looking at it in hindsight prices went up and down and up and down a bit no major price increases or not the propetties of a bubble since 2017. Add in people then held off thinking Brexit was going to bring property down and now its covid and yet in the midst of the worlds greatest pandemic prices are going up. Look at mortgage approval rates through the roof, look at irish saving rates through the roof..There is a lot of pent up demand out that has been building for years..Add in new builds commencement were down over 20% last year and sure the builders are yet to get out of the blocks for 2021 so supply of new housing has been hit as well. I am sure Covid was the catalyst for demand to start coming on stream as nothing like being locked down in someone else's place or a small place for the guts of a year to make you want to move to your own or to a bigger space.

I pulled out of my bidding war. Just not comfortable with the amounts involved.

Have to hope it will get a little bit better when restrictions ease, but I have no idea

bubblypop wrote: »

Just wait a few months more. When restrictions end it should make a big difference

Have you any evidence of that I wouldn't be too quick to give advice unless you know something the rest of us don't?

bubblypop wrote: »

Just going on the estate agent I was speaking to last week, small local agent. He has 14/15 properties ready to go to market when restrictions end, he said the bigger ones DNG & the like have 30/40.

Anyway, its fairly obvious that there will be more properties on the market when things open up. Unless you think no-one is ever going to sell their houses again.....

And what happens to the people owning the 14/15 or 30/40 properties do they find a field and live in it?? trading up/down is a zero sum game when it comes to supply of property. The only way a +1 is added to the supply side is if someone selling is leaving the country and for the last 6 years we have had a plus figure in emigration inwards. There may be more selection but there will be a lot more competition as well

bubblypop wrote: »

Some won't be buying, cos they're dead.
Some won't be buying cos they're leaving the country
Some won't be buying in Dublin cis they're leaving the city.
Those that will be buying will also have more choice as more properties come on the market.
And I wouldn't rely on immigration going up this year or next

Ok on your first point births have far outstripped deaths for the last 100 years in this country so if anything there is a need for more houses. You cant just look at deaths and ignore our birth rate.

On your second point we have had more people coming into the country than leaving the country for The last 6 years even during 2020 and you think even do the population is increasing we will have more supply, all of these people need somewhere to live. Also corona has hit the globe would you really take the risk of leaving Ireland when the same corona related problems will be in the country your going to and leaving possible one of the most generous welfare systems on the globe?

Dublin might go down in price but other areas in the country may go up. Working from home will impact both rural and city prices but I think that impact will not be felt until the next generation of worker is working. I could be wrong.

So you dont see immigration going up have you anything tangible that points to this. As I can see the below points as an indicator of immigration going up.

I see the previous 6 years of plus net emigration in to Ireland
I see more high end tech and pharma jobs attracting people
Ireland is now the only English speaking country in the EU after Brexit, further making it more attractive to people in countries like China and Brazil who want to learn English
I also see the government cutting the refugee/asylum sectors wait period from 8 years to 4 months..

I see a sh1t load of emigration coming to Ireland once corona is gone.

bubblypop wrote: »

Just going on the estate agent I was speaking to last week, small local agent. He has 14/15 properties ready to go to market when restrictions end, he said the bigger ones DNG & the like have 30/40.

Anyway, its fairly obvious that there will be more properties on the market when things open up. Unless you think no-one is ever going to sell their houses again.....

Would they not be better off trickling them onto the market now instead of dumping them on the market at the same time

fliball123 wrote: »

And what happens to the people owning the 14/15 or 30/40 properties do they find a field and live in it?? trading up/down is a zero sum game when it comes to supply of property. The only way a +1 is added to the supply side is if someone selling is leaving the country and for the last 6 years we have had a plus figure in emigration inwards. There may be more selection but there will be a lot more competition as well

You're ignoring first time buyers on the demand side. Supply is so low at the minute that any additional houses for sale will surely help calm the crazy bidding wars that are happening right now. Instead of 5 people bidding on 1 house you might now have 6 people bidding on 2 houses.

fliball123 wrote: »

You still have 4 people needing a house that isnt there. Where are the additional houses coming from?

Absolutely, the overall supply is still an issue either way but doesn't change the point that was made that things should improve somewhat when things open up and more houses are on the market.

Improve ≠ solve