Honeywell, Ennis, Co. Clare (-€35k -5.1%)

was €685k
66.102.9.132/search?q=cache:_30n … cd=1&gl=ie

misadvertised in Clare People as €635k (discussed on the Pin last year)
viewtopic.php?f=4&t=4296&p=34074&hilit=honeywell#p34074

now on sale for €650k
daft.ie/searchsale.daft?sear … D=upxpuvqr

now €550k
daft.ie/searchsale.daft?id=303541&search=1

(Overpriced for a house now on a flood plain - Honeywell was severely flooded in November)
irishpressreleases.ie/2009/1 … and-ennis/)

Not sure how bad, Honeywell was affected, Badly enough I’d say given it’s low lying position relative to the main road and neighbouring houses. It’s a shame as those houses are head and shoulders above (in quality and spatial terms- not in altitude, unfortunatley!) most of the supposedly ‘executive’ stuff on the market in town. I really like those houses and would have considered one (if they fell by about 60%! -might happen yet)
The flood incident is effectivley a life sentence for any homeowner -aside from the initial poroperty damage
-instant massive depreciation of the property.
-Huge increase in insurance premium, if you can get it at all.

For any potential buyer -on top of tightening credit
Any bank worth it’s salt would investigate flood incidents and be very reluctant to provide finance for such a purchase.
-the valuation, based on flood history may yield intersting figures.

  • Again the issue of insurance. Why would any insurer want to take out a new policy on a property with a history of flooding?

I see Ennis (and other flood effected towns) operating a two tier market -those that have been flooded, and those that have not.

Whatever about the flooding these certainly are nice houses. However they suffer from being on tiny plots and surrounded by hundreds of 3 bed semis etc further down the road. Certainly not executive location,location, location

A similar dilema as faced by the nice three story houses on tulla road which also failed to sell.

In ennis today 400 K would buy you a faboulous house in several locations.

Honeywell asking prices remain high because they have done the equity elease thing and cant face reality.