Counting Chickens

From AAM

Check out IFT’s reference (Post no. 10) to OP’s previous mails concerning his property and OP’s reaction to same. Chicken counting has been a national pastime for years…

Reading through that thread it struck me that not one reply was from a person who would class themselves as a buyer. However, on the Pin I would guess that 90% or more are buyers in waiting. That guy should be asking his question here not an AAM where they ban buyers.

I will answer his question.

He bought for 250,000 two years back. He wants above 320,000. It is a 2 bed in Asbourne.

Reduce the price by 10,000 every 5 days til you get an offer. I would guess offers will come in around the 250,000 mark. But in 6 months they will be far lower. So don’t mess around, do what I said now.
There you go. Good advise and no fee. :wink:

The issue isn’t that there’s a crisic of confidence and people think they’ll get the place cheaper in 6 months.

The problem is that the crisis of confidence has finally exposed a lot of people to the joys of renting and they’re finally starting to really do the maths.

It’ll take quite a strong fear of rapid house price increases to entice these people away from renting for the foreseable future.

An apartment in Ashtown? As a place to live I personally wouldn’t buy it even at 200K, it would be such a step down in quality of life, and a step up in cost of living. It would make absolutely no sense.

Piddling around with 30K price drops is just leading to more and more dead money going on interest.

I wonder would anyone have the balls to hold a well advertised auction with no reserve price, and see what their apartment is really worth.


from his posts it’s very easy to identify his property

the OP of that thread also mentioned he’d accept an offer of at least 320k (still ridiculously overpriced IMHO). his original asking was 370k then dropped to 340k and will accept even less. so if anyone out there is interested in picking up a “bargain” I give you exhibit a :slight_smile:

that apartment is the very definition of a shoebox

I checked out those other threads. Seems like the guy has some questions to answer around tax evasion before he starts to worry about targeting buyers.

And now his address has been worked out. There’s a moral in there somewhere.

You can get 2 beds, 2 bathrooms in Ashbourne, decent quality at 275k right now.

Without reading the AAM thread, I worry for this person…

where are they getting 75 metres squared from? (800 sq ft.)
looking at the floorplan it appears to be about 640sq ft.

Not Ashbourne, Ashtown!

Where did Asbourne come from then? :stuck_out_tongue:

Bertiebasher did it!

Ashtown (I live there), is screwed. All this guy has to look forward to is more blocks of apartments springing up over the next year (slowly mind).

I’ve stated this before, but I have heard a rumour from three diffrent people that building has more or less stopped on this site. I see some activity but not a lot. Perhpas they are simply weather proofing at this stage the last few pieces?

I’ve been walking past the site for over a year now. Back in September I was saying that no work had been done in months, but all of a sudden things started moving again. Now you never seem to see more than 3/4 guys around the site and it is awful quiet too. But they seem to have got the two blocks nearest the canal into some sort of shape (there’s another separate finished looking block right out by the canal).

The exception though, is the block nearest the River Road. To say it’s skeletal would be generous. I’m fairly sure this hasn’t been touched in months.

Which is worse if you’re selling your two bed: A glut of newly finished clone apartments, or several ruined/abandoned blocks on the doorstep? The scumbags who gather round the canal for a can of dutchy will love the latter.

Perhaps they’ve decided to rent them out instead? As noted in this article, it seems to be a common strategy these days.

From Hubris to Humility is 6 months

This guy isn’t even close to negative equity yet and he’s begining to feel the heat.

Not near fear yet I hope he cuts massively and gets out at least even.

I remember reading the “tidy profit” post a few months ago. It smacked so much of the masturbatory self satisfaction which is only known by the canny investor.

I was thinking at the time, am I wrong? Is this show just going to keep going and going? Should I “get on the ladder”?

I’ve no wish to be gleefull at this guys personal situation, and to be honest it’s not a bad situation to be in. If he dropped to about 270 tomorrow he would sell the house instantly and have effectively lived rent free for about 2 years… which is a better situation to be in than I personally, as a renter, find myself.

I am however delighted that the “tidy profit” scenario mentioned above was a complete fiction, the same fiction that’s been peddaled to me by my friends and family, that I am an idiot, prices only ever rise, Ireland is different and that everyone in the country is making massive profits by swapping houses with each other.

Well it’s exposed now, there is no “tidy profit” and hasn’t been for quite some time. If you look up the words “canny” and “savvy” in Collins Gem Irish-English dictionary I’d be almost certain that “canny” is Irish for “gormless” and “savvy” is Irish for “flukey”.

I remember the days when flukey was deemed to be a Scotsman scoring a later winner in Sofia

Would he though? And if he does what happens to everyone else?

How many people trying to sell the apartments at that price will manage to get their 270. I’ve paid out a shed load of cash in Rent over the last 10 years

Around €60k

With stamp duties legal fees etc that is the max that I can have "lost " in the market.

If your 400k gaff falls to 350k you lose that over night…

As the fall accelerates people who thought they were watching the misfortunes of others from a position of safety will slowly begin to see profits evaporate and add to the panic in an effort to either realise profits or avoid getting into losses territory!!

I find his/her honesty refreshing.

It struck me as 2Gaffsesque.