Sellers of houses needing work should get real on prices

I think this dude is nuts to be out there trying his best to spend 600K on a 3 bed semi in Dublin with a “bit of a garden”. What do you guys think?

and a gem at the end…

ouch!

To be fair though, it is great fun to show people from abroad daft.ie or myhome for what some houses in Dublin are going for! And then you explain that the trek to work is half the morning either in your car or on a bus with no timetable (when a bus leaves its terminus is not a timetable if you are somewhere in the middle!)
Shock and awe! And it could only happen in Ireland. (although Malta is almost as ramshackle)

Strictly speaking, for 600K he can buy a three bedroomed semi D in Dublin 9 if he wants. He’ll have change of 100K and he won’t have to do too much renovation if he doesn’t want to.

So he’s looking in the wrong places in my opinion.

That being said,

prices are still excessive.

It’s still property porn, just a bit more “Reader’s Wives” than Playboy Centerfold

The headline is spot on.

From my own experiences while all properties have dropped it is indeed the “doer uppers” that have suffered the most and just don’t seem to be shifting.
Perhaps not surprising as putting 200K into a property right now is not the same as putting 200K into a property and then having to wait 6 to 12 months for the work to be completed.
It is just too downside risky.

I once killed an American by showing him MyHome.ie.
Blew his head clean off.
Terrible mess.

The Mafia now use it as a way of whacking people. Just email them the Myhome.ie url…BOOM…job done.

-Rd

Not just risky it could be perceived as being downright stoopid in a falling market… Why pay all that money and have the hassle of builders only to find that in a years time your house is worth even less than you thought. the refurbished one down the road, being sold for less than all your total spend… All that work for nothing!

He and his wife work in Monkstown and are looking for a house that’s no more than a short cycle to work, so D9 wouldn’t be much good to him. His column is part of a series about people who don’t want to commute anymore and are returning to live in places near their work. Goatstown might suit him though, plenty of 3 bed semis there for under €600k, and it’s near enough to Monkstown. Although he’d still be overpaying significantly.

Him and half the country. Just looking at this site alone, it seems as though pretty much everyone wants to buy in the most salubrious areas of South County Dublin.

Sellers know this.

I know some people in this position. Have an elderly relatives house that the relative wants to sell. House is livable (heating, water, not damn) but would need a serious professional clean before even thinking of showing it to people. They are thinking a few grand spent on a professional clean and replacing any old warn curtains with cheap pre-made ones etc. The style of the house is very 1950s/1960s, it actually looks ok as it is all good quality furniture and fittings, that matches each other, just out of style etc. Its in a good location in South Dublin is a well established residential area.

The question is, how much below the “Modern” equivalent houses in the area should it be priced? 20%? 50%? any thoughts?

Sellers in South County Dublin seem to think that no matter what area they are in, their even numbered postcode makes it more desirable than Monte Carlo, and price to reflect that. :angry:

They are real on prices. The market - the whole financial system - is based on faith, not fact. In a free market, sellers can ask whatever price they want and buyers can buy at what price they feel it’s worth it. There is no need for communism here with sale or rent price controls.

Someone can still ask 600k for a two bed if they like. The netx door neighbour can ask 300k. It’s free will and a personal decision to decide asking prices as much as it was free will to agree to purchase prices.

That’s as maybe but they are unrealistic in their expectations of achievable or market prices… It’s a free country but as Duplex has pointed out previously, when this occurs, these properties are not genuinely on the market other than in the fantasyland mind of an unrealistic vendor…

I’ll take it :smiley:

Sorry, forgot to say, 80% below. Anyway, I’ll take it 8)

To be pedantic, South County Dublin doesn’t have postcodes!

A simple one-word description - Dalkey, Blackrock, Monkstown is all you need - that’s enough to make you swoon. Just like boy-bands/tabloid pin-ups - a one word name is all that’s required. :slight_smile: :angry:

20% below it is then :wink: