Bray / Southside help

Hi, Im looking for advise here so hopefully you can help me, so I dont make a huge mistake :blush:

Looking at 3 beds in Bray , and south Dublin for circa 300K

1 - Am I completly insane ?
2, Should I hold off for another year ?
3, I’ve been to view a number of houses and estate agent sometimes rings me back to say hes got an offer close to the price on the web - is he serious? is there anyway to test him on this ?

Also when checking out houses whats the best 3-5 Questions to ask AE to see if hes telling the truth ?

Thanks
BB.

Well, you are looking at buying in Bray so all indications would point to yes.

No. Don’t listen to anything they say. They have soley their own interests at heart.

haha , point taken.
Im originally from there so folks are there etc…

also looking in South dublin. anywhere that might offer value !

Simples:

And if your not from planet Vulcan ?.. :confused:

Pliers and a blowtorch ?
https://www.letsseechange.com/wp-content/uploads/2009/02/pair-of-pliers-and-a-blow-torch.bmp

This has all been, as we say in the business, comprehensively rehearsed on other threads.

Should you hold off? Up to yourself but if you’re happy taking out a bigger mortgage then is strictly necessary or holding a depreciating asset who is anyone to stop you. Make sure you’ve stress tested your own finances for various permutations however and don’t assume an automatic best case scenario.

The EA acts for the vendor and therefore is under no obligation to you at all, his job is to achieve the best price possible and bag the commission but he can only do this if the offer is acceptable to the vendor as such, there is limited scope for doing business in Ireland in most instances beyond a 10% reduction as you can only sell something for what it is worth in most instances.

EAs don’t tell the truth, watch Glengarry Glenross.

[googles Glengarry Glenross]

thks TUG,
wonder if extravision still stock this…

Also - point taken, and your right there are other threads on topic, but hearing it more directly in the cold light of day is helpful.
Really dont want to be left holding a downward spiraling asset, but have been renting a long time so eager to put down some roots.

thks
bb

Your best bet for your own personal circumstances is to have a look at whatever you think the relevant metric is, personally, I’m looking at median household incomes and where they might stabilise and then use either a 3/4 multiplier in line with various international studies.

If you knew where rents or incomes were going to stop in general then we could all gauge the bottom with a high degree of accuracy as ever, this isn’t the case. Busts on average seem to take 10 years to sort out and we’re only starting into Year 3 in real terms and our particular bust is accompanied by a level of macro prudential stress in the general economy that is largely unprecedented or rather unimagined previously.

So in short, down and down we go, where she stops, nobody knows… :open_mouth:

With regard to the “Yeah we have an offer in at (Asking -10%)” line peddled by E.A’s I have noticed a distinct pattern in this. We have been looking at executor sales, and the estate agents handling those tend to be much more realistic than houses that are modern and up to date (Obviously taking into account the condition of the place as a given).

My take on it would be that sellers other than those that do not care any more (executor) or where they need the money (nursing home) have instructed the EA they will take not a penny less than Asking -10% and that is the E.A’s way of establishing the bottom with potential buyers. There may be many reasons for this, they might need to sell for X to be able to buy Y (trader uppers), or they might just feel entitled to a particular amount, or feel their house/area/decor is special and immune to drops, or they might have undercut everyone else selling and put a realistic asking price on it and are therefore not going to negotiate too much.

As spocky suggests above, short of mind-melds all you can do is have an educated guess. A lot of people on here think its an EA sales tactic, but to me that doesn’t make much sense unless they have been instructed by vendor not to sell below a certain price.

To me if the EA tells me there is an offer in for 450 and I think its worth 400 tops, I’m not going to bother trying to negotiate.

Yes there is. Tell him you cant match it but to call you back if it falls through.

Other bidders, whether phantom or real, should have no bearing on your own offer. Your offer should be based on what you value the property at.

You make your offer and if its not accepted you go back on daft and find another property to bid on. Dont be lured into games with salesmen. Its a mugs game.

My house in Bray has been on the market for close to a year. We’ve had two “offers,” neither of which was serious. There are houses around town, but as one of the other posters said, the estate sales might be your best bet.

Thanks for all the advice guys,

Might take another look see this wkend and use mind meld on unsespecting EAs

Thks
bb

quote] EAs don’t tell the truth, watch Glengarry Glenross.

Have been meaning to watch this film so thought I’d buy rather than rent :angry: ! Below from CD Wow. Pinsters maybe? :laughing:

  1. Glengarry Glen Ross: Special Edition (2 Disc Set)
    (DVD Region 2 - 19/09/2005 )
    €11.99 Was: €13.99
    Due to high demand, this item is temporarily out of stock. Check back soon!

Could be some bubble action in the making here! What’s your best offer I can only sell mine FWIW!!! :stuck_out_tongue:

I’ll take it for 3-4 times rental price :laughing:

How about 200 times? I hear that’s a good metric for the US and it’s set in the States…

Thanks, i’ll see. I just made an appointment to view a copy in HMV later but was told that they already had an offer on it for 10% less than asking and are about to go sale agreed :open_mouth: I’m legging it over there now so I dont end up having to rent a copy for the rest of my life 8)

Always Be Closing
:exclamation: