Noticed 2 houses in the Charlemont estate in Drumcondra. Both 3 bed, same exterior, same garden size, same sq footage etc. The better located one with a fab interior is on sale 50k less than a pretty dowdy looking one with a paved back garden. Is this a case of desperation on the sellers part or is it a case of disillusionment that mr anderson talked about some 30% of sellers still having?
It’s a nice estate from what I’ve heard. To be honest if the two were roughly the same price, I would understand. Not sure about the fab interior, looks like you could spend a few thousand in the right place to make the “lesser” property look the same as the “nicer”. However, a 50k difference is far more difficult to explain.
How about the higher priced owner would like to sell, but the lower priced one NEEDS to sell. As in, the marriage is over, and the new partner isn’t happy dating a person who sleeps in a bedsit.
If the seller is 50, that person could expect to live quite well for the rest of their days without having any reason to own a house.
certainly possible, but I do think that some people will always reconsider selling if they can’t get the price they want.
Perhaps the person demanding more money has his eye on a more expensive area, and the extra 50K is what he needs to be able to trade up to it with what he sees as a reasonable mortgage cost. His reasoning may be “I’ll see if I can get it, but if I can’t that’s OK too”.
If he were to force his price down to match the neighbour, that could be too much damage to his disposable income for him to be comfortable with.
In fact, the real danger that interest rates could rise considerably in the next 10 years strengthens the argument for this person to hold steady.
My parents tried to sell the house they are currently in 20 years ago. The best offer was a similar percentage below what we see here, and they decided against moving, because the low price gain meant the cons outweighed the pros.
They weren’t “in denial”, they just didn’t fancy selling for that price. They made a rational decision to stay put and only sell if their target price was met. It’s negotiating strategy 101: try to position yourself so that if talks don’t yield results within the range you’re content with, you have an alternative strategy that is superior to settling for less than the range you decided upon before entering negotiations.
I reckon the sellers of the expensive ones are convinced prices will go back up real soon. They wouldn’t have done any research, maybe just wet their finger and stick it in the air.
Either way the sooner you sell the more you’ll get so waiting to see if prices rise will end being a costly mistake.
A big problem with trader-uppers is that they decide on the house they want before they have any idea what they can afford (i.e. what their house will sell for). They fall in love with the new house and then mortgage themselves to the hilt if they can’t afford it. In the past, they have kidded themselves that they will get more for their house than the asking price - not realising they will pay more for their ‘dream’ home than its asking price.
I believe that it is wrong to dis the older generations (the ones in their fifties and above (like, I presume your parents)) about house price inflation. Yes, they are sitting pretty, but they made rational choices about where they wanted to live and how much they could afford in difficult times. They also understand the value of money - how much is an hour’s work? If you don’t know how much any item costs you in terms of after tax hours worked, you don’t think enough about what you’re spending, in my view.
The property crash should be bringing it home to people in their twenties and thirties that they have caused house price inflation through greed and stupidity. Instead they are blaming those people sensible enough to have equity in their houses and who are not in hock to the banks.
If you’re not being ruthlessly sarcastic here… I say, Hang on a minute!
Everyone’s is to blame to varying degrees and it just so happens that the majority of the loosely 50+ generation are the ones sitting on the prettiest pile versus they’re children’s generations.
There is a dramatic imbalance in the distribution of material wealth held privately and it is also reflected in the gross imbalance of the states infrastructure. Think about it.
Why the hell would this generation give a flying fuck about roads, rental market, hospitals if they can sit pretty in there Malaga golf Mansion and the enjoy sweet suckle of the rental portfolios. They don’t care, most of this generation or a good proportion besides are making their retirement escape plans and don’t care for this country anymore, watching the door they are voting with their Ryanair sorties. Leaving their children’s generations to clean up the mess yet at the same time leaving them to the ravages of a rasping financial quango rendering their lives best efforts useless, disenfranchised before they ever learn to know.
I’m looking to blame people or I am willing to call it as it is, it’s the same thing.
People don’t like that here. Fuck people who fuck people, or else they better explain their vested interests or serious reason to carry on with this social aneurism.
People who don’t protest against the madness are as much to part of the set up as those who created it, preside over and manipulate, so as to utilise its inefficiencies to retain their power position for no greater good.
Social feedback mechanisms are dilapidated, defunct and ruinous at best here.
So we need new ones. They are here, at the glimmering tips of our ligtspeed intermind.
Daily we are told the market will look after us,
Daily we are told democracy will look after us
Daily we are told we have to look after ourselves.
So much conflicting propaganda, delusional dogma deadly to the innocent.
Fuck the market it’s not universe divine, it’s not mother of all our souls. It is the institgator of orphans and whore to no one.
Lets think for ourselves, for change, rather than have blind feckless faith in something that most really don’t understand in the first place and if they do they are not part of it in the end.
Those who pontificate to us, are not in the same regulatoraly rigged rat race as the majority. Those who lead do not by example, only by fear.
We can live without fear.
Fear is the breathing grounds for cataclysm. Lift up your spirit and realize there is no ultimatum out of the question, there can be no fear, only change.
Open your heart to open your mind to change and let your spirit dance across the infinite.
