whats it worth? Roscommon

First off, Hi guys/gals new to the pin (well first post, been browsing for a few months). Going to view property.ie/property-for-sale/No-25-Glenview-Galway-Road-Roscommon-Co-Roscommon/431965/ on Wednesday, just wondering how much you think its worth.

Thanks in advance
David

from the thread title i thought you might be asking what Roscommon was worth.

:wink:

Some points:

“Priced to Sell” - What the hell else would it be priced for - not to sell?

“Excellent investment opportunity”. Clearly this is not an excellent investment opportunity

“Viewing is strongly recommended by the auctioneer”. Oh cause normally you wouldn’t need to view it you’d just buy it sight unseen and hope for the best. XX

The question is what is the house worth to you and how desperate are they to sell? I think these estate style houses will be next to worthless soon enough.

As this is an estate house with lots of similar units you should be able to find out what one sold for in 2006. Knock 50% off this to get a realistic view of what this house will go for within the next 12 - 18 months. Some people will say knock 80% off the 2006 prices.

If I was to hazard a guess without knowing the 2006 prices I would say these houses will be down to about 110k within 12 months.

lol not much :mrgreen:

Any idea where id find these prices?

I’m a FTB so im going to be using that to the full and put in a cheeky offer.

thanks for the advice so far :slight_smile:

A house in Roscommon is worth nothing.

Are you living/working in Roscommon? How much of a commute is this property for you?

Rent on a 4 bed house in Roscommon seems to be in the 500-800 range and €750 for a similar house daft.ie/2678716.

That puts the value of this house in the range of €60k to €120k. I’d run a mile from €190k for this. If you salary is at least €30k a year offer €100k.If they say no then offer €600pm for the rental one and wait a year.

Any idea where id find these prices?

I’m a FTB so im going to be using that to the full and put in a cheeky offer.

thanks for the advice so far :slight_smile:

Try googling the estate address & 2005/2006 - you might get lucky. Ask the EA (sometimes they don’t lie :slight_smile: ) and some other EAs in the area. Finally be nosy knock on doors and ask around the neighbourhood. Shopkeepers in local shops are great for giving info. They seems to be loads of these for sale at the moment which is in your favour once one or two drops to a reasonable price as you can play the EA/vendors off each other.

Several houses for sale (some repeated) in Glenview on property watch, this one is the lowest priced at 190, most others are 225k.

irishpropertywatch.com/sales … +Roscommon

I would say properties like this have some way to drop yet, maybe to 120K by the tinme its all said and done but who knows.
Most important to me in locations like this would be that the estate is completed as semi-finished estates could take forever to complete.

im working in roscommon and its only a 10 minute walk from the house, it’ll be saving me 60 a week rather than driving in.

lol yeah ill send the ma in for an old chat :stuck_out_tongue:

not to sure if the estate is completed will have to see when i go.

any advice on what questions i should ask the EA? i dont want to leave anything out :confused:

Thanks

Eyesonly,
Not so sure what yhe LOL was about on the advice to ask around the area, while this may seem over the top to you it is a great source of information, asking in a local shop if the area is good cna lead to soem interesting answers.

Another good practice is to drive around the area at all hours fo the day and night, make the walk into town during day and night, and watch for any unusual activity in the area.

For some good home buying advice check Irish Home Truths
irishhometruths.com/HomeBuyersGuide

This, I assume, is a major purchase for you and should be treated accordingly, many people in Ireland seem to spend more time inspecting a new car than a new house and often suffer incredibly as a result. To put it in perspective, you will likely spend several years wages to purchase something, you need to make sure it matches the huge effort it requires.

My pet peeves with houses are:
Windows & Doors - must be perfect
Walls - in this case the wall to the next house - knock on it, listen for the neighbours, etc… in New builds I have turned on a radio in one and gone into the next and left running as I could hear it as clear in either.
Ceiling Heights - likely not an issue here
Room sizes - if 1 room is only suitable for a cat, then it is useless to you.
Bathrooms - I oprefer a shower in at least 2 bathrooms, none of this shower tub crap for me but everyone is different.

Good Luck and let us know what you find.

I do not personally believe that anything in Roscommon is worth a penny more than it ws in 1998 , such was the industrial scale of overbulding that occured in that county and in adjacent ones .

Thefore I feel that €80k-90k tops is fair value , today . They would only pull in €500 a month rent in Roscommon which is €6k a year . €6k a year using long term valuation ratios means the house is worth maybe €90k no more . ( 15 x annnual rent) but some say 12x annual rent and some say 10x . 10x means it is only worth €60k if rent is €500 a month .

Remember too that only first time buyers can get mortgages right now and that the FTB kitty the banks had to have will all be used up by August/September …after which even FTBs will not be able to get a mortgage unless they are related to Michael Finneran maybe 8)

Make sure they know you are an FTB with ‘approval’ before you make the offer of say €75k and be prepared for a rude response …not that it matters .

If the EA is rude to you then quote 2Pack back at him, “It’s The Empties Stoopid”

There is a huge (read absolutely fucking enormous) glut of houses for sale in and around Roscommon town and SFA is selling. I take it you are working up the courthouse / schools end of town therefore this is handy as it is not much of a stroll in but it is stupidly overpriced for anything in Co. Roscommon although the town has always commanded a bit of a premium over the rural areas. I won’t even hazard a guess as to what you should offer for this but 2pack can’t be too far out.

Have you done a crawl of all the EA’s in town and yes I know there a couple of seriously ignorant incompetant gits who class themselves as EA’s in Roscommon town but a couple of them have quite a lot of prpoerty from developers on their books well discounted off any advertised aksing and for some reason don’t put much of it up on Daft or MyHome e.g. Earley. Do an old foot slog, its not a big town and I’m sure the girls in the different offices would like to talk to someone at least once a week :laughing:

Are any of the houses the other side of the railway line up for sale ? I reckon you could pick up one of the houses out by the golf course fairly handy nowadays too although it would be a bit of a walk.

Sorry didnt mean it that way i was laughing at the Ask the EA (sometimes they don’t lie :slight_smile: ) bit of it.

Yeah been warned about them by friends already, have only just started looking and need to get time off work to go around them all.

Thanks guys will keep you informed :slight_smile: