Looking to buy in Bunratty, Co. Clare. Houses in Dun Ri are on the market with a 50% deduction since 2008. Naturally the prices have come down since then but the auctioneer refuses to consider a lower offer. Part of the estate remains unfinished!!! Anybody know why these prices won’t budge?

These bad boys?

gvmauctioneers.ie/propertyVi … =6929-6097

Yes and one other.

I’d pay €275k if it were close to Malahide village or Howth hill perhaps

LOL…Good figure though.
offered 390000 a year ago

Are the GVM prices post-2008?

They are the current prices. Three houses sold in the whole development!!!

Why would you pay €360K for number 21 (1,157sq foot townhouse) when you can have number 8 (2,115sq foot 4 bed detached) for €395K. Those prices are seriously out of whack.

Interested in no. 4

You gotta be joking?

Sweet Divine Jesus!

Just-Made-Up Rule #1 - A house is only worth what the bank will lend on it.

Just-Made-Up Fact #1 - We got a collapsed banking system. They ain’t lending!

Just-Made-Up Rule #2 - The economy drives the housing market.

Just-Made-Up Fact #2 - We are an IMF-controlled country. This is never a sign of a healthy economy!

Just-Made-Up Rule #3 - It’s the perceived resale value that drives current price expectations.

Just-Made-Up Fact #3 - The resale value on these puppies, in their unfinished/never to be finished estate, will be less than the current price.

Walk away - then run away - then collect your goods and chattels and fly away!

We have broken banks, the IMF running the place and a choice between Default or Deflation - and you want to know when ludicrously overpriced houses, in an unfinished estate, in a bankrupt state on the periphery of Europe will fall in value?

Buy one and find out!

Will let you know how I get on…

These will bottom out at 130-140k seeing as they are detached.

What was your lowball when they were asking €390k, has it taken him 3 years to sell 3 houses at whatever he was asking, sure that would not pay the rollover interest for the developer every year.

Exactly. 390k was for a 595K house subject to sale of our own for 275k which a house across the road from us had just sold for. This was last Jan.
Another sold three weeks ago for 200k. New owners moved in today. Figuring our own will eventually drop to 70-90k so your 130-140K is a good estimate.

Bunratty is a nice place, in some ways I think it would be cool to have Bunratty as an address -If you are in to pubs and restaurants -there are some nice ones around- but still a fairly limited choice, compared to even an average size town. The castle is impressive but, I mean how often will you actually go inside it, a few times a decade maybe? The novelty of telling Americans that you have a leprechaun in your garden is likely to ware off as well.
I’m guessing Sixmilebridge or Shannon would be the nearest places with schools.
Actually now that I think of it I’d rather live in Bunratty than either of those two…

How unfinished is the estate?

Roads? Lights? Co. Co. bond honoured?

If this is this the estate north of the closed down hotel and west of the folk park ?? That was nearly complete in 2005

They are well built houses and nicely finished. The estate entrance has two unfinished homes and one other with the foundations laid. The road needs to be finished. Footpaths are finished. The gardens are all maintained. One can see that the developer is maintaining his investment. So the mind boggles as to why he won’t sell. Does he actually believe prices will go back up.
Bunratty is a lovely area and near where I work. It suits a city girl and a husband who wants to be in the country.

Something to do with that connection between Fear and Paralysis?

Bunratty always seems a bit like Desperate Housewife country, with rich kids bored out of their heads all summer long.

The nearest school is a good five miles away. The nearest remotely decent supermarket is probably Sixmilebridge.

Outside of a handful of excellent restaurants, there is nothing there. I reckon it would be like living on one of these golf courses, such as Mount Juliet.

Adare is a similar distance out from Limerick and has everything going for it.

AFAIK Adare is very pricey for Limerick;

lots of Consultants/Doctors from the city and limited supply of gaffs. The GAA club suffers as they all want their kids to play rugby (my mate’s family are from there); losing its village-ness