31 Booterstown Avenue, Booterstown (-1100k, -52.4%)

Old Price €2.1m
unison.ie/irish_independent/ … &printer=1

Now: €1.65M
myhome.ie/search/property.asp?id=289396

Wow! :open_mouth:

This is a particularly good example of the market biting somebody bad.

This property had a bid at auction of €1.8m, not simply a hopeful estimate from a EA. This is evidence that someone would have paid €1.8m for this house in October but the market will not now pay that price. Now the owner will be lucky to get €1.65m. The market has measurably taken €135,000 from these people.

This has got to be pretty embarrassing for them. If you can picture the scene, the couple attending a dinner party and the topic of the property market comes up. They blush and try to change the subject lest they be discovered as some of the first people in South Dublin (in the last 15 years) to have so obviously and publicly lost money (lots of it) by being bullish on the property market

Oh c’mon panzraam, I don’t feel sorry for quote unquote millionaires but they are just selling a house at the end of the day, you have no idea about the history of the property and this kinda thing is a bit distasteful IMHO.

They probally bought it for £35000 20 years ago and now have property all over the world so they will be fine. They wont have taken a hit. Its the FTB kids I’d be worried about

Not intended to be distasteful just an observation about what I think we can expect to see more of in coming months/years - the property market becoming an embarressing topic to lots of people who have taken a bath on their properties. Who boasts about their great dot-com investments now, nobody, everybody who lost money in that scam is now deeply embarressed to have lost money to such an obvious bubble (self included).

Down again, this time to 1.5M
myhome.ie/search/property.asp?id=aaaaa310057

I always find this practise quite amazing. They recieve a bid at the AMV. then witdraw and quote at a higher value - seemed to be the norm in many auctions. I guess the logic is if people will pay the AMV then they will be prepared to pay more. Start again at a higher AMV and watch the cash role in. Pure greed IMO and in this case it back fired.

Still at €1.5m

myhome.ie/search/property.asp?id=JBAQX310057

The same house was €895k in July 2004

ireland.com/newspaper/proper … 18648.html

It’s not clear whether any redecoration was done since then, but even if that was the case, is expecting an increase of €1.2m (they were looking for €2.1m after auction in Oct) in 38 months not a little excessive? As noted in the Times, it doesn’t even have private parking:

Now on for €1m.

myhome.ie/residential/search … OGSY352387

That’s a chunky drop.

Works out at €513 per sq foot (1950 sq ft)

Looks like it’s in a vacant state so I suspect there would be some negotiation room.

Doesn’t look like much work done since 2004 when it was €895 - number 30 looks much nicer inside to my eye with a better garden for €250k less.
www.daft.ie/1436734

Not sure of the numbering system on this road but think number 29 is next door is now on for €595k.

€291 per sq ft

myhome.ie/residential/brochu … in/1653693

Number 30 started life at €900k
viewtopic.php?f=23&t=21302

Yes, number 29 is just next door and is almost exactly the same inside and out as number 31.

37 Booterstown avenue is €485k

myhome.ie/residential/brochu … th/1749435

37 Booterstown Ave now 399,950

myhome.ie/residential/brochu … th/1749435

29 Booterstown Avenue - Sale Agreed

myhome.ie/residential/brochu … in/1653693

No 37 now down to €315K - myhome.ie/residential/brochu … th/1749435

No. 29, next door, was reported as sold for €570,00 on 3 Feb 2012.

myhome.ie/priceregister/29-b … ublin-1361