I’m sure some of you are aware, I’m monitoring prices in Carrigaline at carrigaline.blogspot.com/2007/02/house-prices-falling-in-carrigaline.html. Well, I’ve found a lovely little incidence of an investor (no one lives in the house) seriously undercutting other sellers (selling indentical houses in the same estate) by a significant margin.
EDIT: Clearly out of line with our new “non-glee” policy, I’m afraid, Housebuyer - TUG
I’m sorry Housebuyer but that in my estimation amounts to a breach of the spirit of our new guidelines.
Take a read here…
thepropertypin.com/forum/viewtopic.php?t=1028
We’ll have our full rules and charter up at some stage later today.
Actually here’s the relevant excerpt just for clarity’s sake…
I wasn’t implying “glee”.
I was just making that point how would owner occupiers feel about having their properties devalued. I imagine that at the moment, they’re not aware that an investor has undercut them on the market.
I can honestly say that I would never take pleasure in any owner-occupier to lose out in the property market.
I think we all know how someone feels when something they quote unquote owned is worth less today than it was yesterday.
I imagine, they will appraise themselves of the situation on their own very shortly.
You won’t be capable of much glee when the local boyos in the white hi-ace knock your teeth out. https://www.bellagreetings.com/1/small_teeth_smiley.gif
Fair enough, I apologise if I offended, even if I didn’t mean it.
I never said it was intentional, Housebuyer.
We are walking a very fine line here.
That’s offensive both to local boyos and white hi-aces.
Watch it, cellopoint! 
I apologise unreservedly to Carrigaline hi-ace drivers.
Hey HouseBuyer.
I’m not sure I’d have the balls to follow through on some of the comments on your blog:
Do you get served in the local?
It was the FUNNY the funny graphics your honour!! 
Glee and all aside - but thats a serious drop.
Big difference between 360,000 and 317 - the two prices are for different sections of the market
I don’t know what to make of the comment about deleting the blog, if might or might not be serious. Until I get proof it is, I’ll treat it as a joke.
The reason why I highlighted this price drop was because it’s most definitely an investor getting out (the house is unoccupied and immaculate). Not only that, but the mean price of houses in that estate is €350,000. Also, the estate is one of the most sought after for first time buyers as the houses are relatively new and regarded as well built.
I’m in shock still seeing such a price drop. Whack another €15,000 off that price and it actually falls into the affordability bracket for me. By affordability, I mean I won’t have to take out a 100%, 40 year mortgage for it.
As for getting served at the local? Well, if I had proof of all the allegations I could make about dodgy property dealings in Carrigaline, I’d have a lot of people interested in my story. I have lots of anecdotal evidence of repossessions in the town and know of an alleged dispute between a builder and a local businessman who purchased an entire block of houses in a recent development.
Ouch. Could it be that he bought them off “his mate” at a “knock-down price” who was doing him a favour? The greater fool indeed.
I’ve seen the same elsewhere - an ex-rental house came to market about a month ago at about 50k less than the similar properties in the area.
Quite common for builders to do pre-sales of large chunks of new developments to local connections. Not so common now I’d wager as many of the pre sales cant be flipped so easily anymore.
Here’s another humourous one. This ( daft.ie/searchsale.daft?search=1&s[cc_id]=c15&s[a_id]=407&s[mnp]=&s[mxp]=&s[bd_no]=&s[search_type]=sale&s[refreshmap]=1&offset=112&limit=8&search_type=sale&id=155686] ) property is up for sale, with the EA proclaiming “This property is perfect for the first time buyer or investor alike.”.
The question I ask, if it’s such a “perfect” investment, then why is the investor who is registered as renting the property selling up then? 
Everyone out of the pool!
Interesting. Maybe he is selling for “personal reasons” or “emigrating”? Or maybe the guy worked at Motorola?
Well I am sticking to my guns that INVESTORS have been the main prop in this mad bubble.
Investors/BTlers/Landlords call them what you want have been the core driving force.
With easier access to assest backed loans and thus more buying power they have en masse become a brigade of get rich quick on the property one way street.
I’ve been renitn ghouses off them for years now. SO have most of us, why?
This sector has accumulated a massive portion of the increasing supply of houses. THus they have arrested the natural flow and diverted the housing stock into the hands of the few.
Its up to the Investor, who has created this mess more than most in my opinion through blind greed no less. Who I feel will be most responsible on a individual case per case basis to cause the pyramid to collapse.
275K Houses Empty
How many in the rental sector, 80K, 150K 200K ???
Total 355K ( a conservative estimate at best).
Can anyone find the total PRTB registrations to date?
Landlords total + Tenancies Total ?
I might phone them if no one can find it on the net. Let me know!
