How would you value the 'outhouse' -119 Homefarm Road.

Stop making us all jealous, sharper…

€405k the world has gone mad, a house in perfect condition is not worth that price on home farm road, house prices may have stabilsed for the last couple of months but has nobody being watching the news, the world is about to crash around us , you will be able to buy houses like this for $100k soon, 8DD

The $ will always be a reserve currency however if the euro collapses they might be difficult to obtain for the average Irish person.

If you had a dollar for every time a pinster has predicted the imminent end of the world - at least in economic terms - you’d be able to buy this house at today’s price without borrowing a cent.

Yea saw this too last weekend

Dng guy rang and said bid was at 380k so up to 405 is steep

House as stated needs quite a bit of work

Outhouse ok but poorly finished would prefer it at end of garden

Is current location would impact any extension to main house

Really this is a three bed the fourth bedroom was storage only and likely only fit for a cot - a kids single bed would probably not fit

So at 405 I agree way overe priced with the 100k needed on renovations and it’s only a three bed - think the south facing garden has ramped the value

Other house on homefarm with sherry went sale agreed at low 300k now back on - u may get it for 275 lacks garden but extensions easier with garage to side

Re the resurgent property market…

…I’ll admit I thought the market was firming at the start of the year…

…possibly still is…

but if Greece exits euro, all bets are off. And its looking 50:50 right now.

I also saw this last weekend - only went to show the other half that it is not a good time to buy. 405k for a tiny 3-bed (agree that 4th bedroom is only a cupboard) with practically no kitchen and the smallest bathroom in the world (no bath) is height of the bubble crazy. An extension is absolutely necessary if you want to be able to cook and eat and this means knocking the outhouse. And someone is going to pay 405k for that. In Drumcondra. Jesus.

+1
Absolutely crazy.

The reason this house has achieved such a high asking price I would imagine is because the size of the Back Garden. It is huge 50metres plus and the biggest on the road. Of course the usual lack of supply for a decent house in the area is effecting the demand too.

Was there more supply coming to the market 2 to 3 years ago?

One way or the other folks…have to face up to the fact that this is the price the house is getting.

If you don’t like it, then better off asking why its getting such a price than just giving out about it…

The fact of the matter is that masses of people are showing up to viewings, there are very few houses available and possibly the market is tightening.

The labout market has stopped getting worse. Pockets of the labour market are very buoyant, for example in professional areas like IT or Legal.

I could go on, but my overall point is…we know about austerity, we know there is wage reduction, we know there is a monster national debt…and houses like this are still getting good prices. Lets not be simplistic about it and just put it down to ‘craziness’…

As you’ll see from the OP, I though it would reach max €320k ex the outhouse…its gone for well over what I thought it would achieve.

There were still people buying up until maybe 2 years ago. Those looking to settle down took fright when they saw other people buying on the way down, thinking they were getting a great deal, then being instantly in massive negative equity.

There now appears to be a glut of couples looking for the perfect family home. They’ve spent the last 2 years saving and moving on in their own relationships from a point where an apartment/terrace might be ok to the point where only a family home will suffice.

In the normal run of things there would be a lot more family homes for sale but banks simply aren’t foreclosing. There appears to be so much property tied up in one form or another that this price bounce seems a pretty rational outcome for one small proportion of the overall market.

have to agree with yorkie bar, a house worth what someone is willing to pay for it, but i hope they know what their getting here this is a moneypit, best of luck to the new owners maybe there is gold buried under that big garden 8DD

I suppose the point is that its not just one person willing to pay it, several people are.

Re Howitzers point, yes…6 years ago everyone rushed to get out the door at the same time…maybe all of a sudden a bunch of people are rushing back in the door.

I wouldnt call middle class family homes a small component of the market though. it might be a small component of the stock…but you could probably take half the empty stock and knock it at this point.

Of the ‘real’ market…middle class family homes is a good chunk of it.

checked with ea bid now up to €420k crazy ,am going to place a bid of € 450k just to fuck with his head 8-

Anyone know what’s happening with this house? Is the price still at 420k? I think alot of people are wary about property prices being inflated. House across the road at 350, can’t understand the price difference, apart from different garden sizes, but surely the garden can’t be worth an extra 70k

heard its up to 430k, think i will vote no on euro vote and buy it for 2 sacks of spuds and a gallon of petrol next year 8DD