WIW - 1 Ardburugh Road Dalkey

Went to see this recently. Would need to be completely renovated and extended but location is nice, although huge hill climb from the village on foot. Agent says offer of 650k recently declined and has been on market since April.
Any thoughts?
myhome.ie/217767

Its lovely, Id wait for the property tax myself.

I viewed it too a while back - would think they should take that offer at 650 as it is a big project - minimum 200K to get it to be worth the 800K they were asking then (IMO).

Nice location alright, but current house is uninspiring and has a very slopey shady garden - the house is positioned wrong in it (if money was no object you’d knock and rebuild).

Planning for a significant extension is not a slam-dunk either as there are lots of neighbours nearby to object… and in this area they tend to have the time and money to do just that.

Still a better bet for 650 than the semi-D in Dalkey grove which recently went for “well in excess” of the asking of 570 - this one has decent potential, if you have the time and money!

Had a good look from the outside. Quite sad and decrepit looking. I think it’s overpriced for what it is, but who knows – nothing’s moving in Dalkey.

Definitely not worth 600K for a decrepit 1970s dormer bungalow.

Hmmmm…there’s the odd silly buyer - aka dumb money- out there who’re willing to stretch themselves to live in something that makes the bare requirements and that they can just about afford (before interest rate hikes)

These are usually FTBs with a couple of kids who combine good jobs with occasionally a bit of family money AND expectations/belief that we’re close to bottom and that the current prices represent “value”- and their earning/borrowing capacity usually taps out around the 600-700K range. The supply of this sort of buyer is slowly diminishing as reality sets in/layoffs occur/financing contracts.

This explains the phenomenon of the odd 1,300 sq foot 1970s 600-700K semi-D or Dormer actually selling to an occasional sucker.

But there’s a huge overhang of MUCH better houses sitting at the 725-900K (e.g. period, 2000-3000 sq foot, IN the village of Dalkey or the better part of DL , or a couple of hundred yards from the sea.

www.myhome.ie/218058

www.myhome.ie/133746

For the same quoted price, this would be a much better doer-upper

www.myhome.ie/323682

If you want a real COMP, a good 1500 sq foot period house with a nice garden sold for €625K at auction in the heart of Dalkey in the Spring - and DAFT/Myhat.ie data suggest prices have fallen by 4-5% since then.

My advice - Run, Jump and tell the EA that the seller should bit the hand off the person who offered 600K

BTW Don’t believe ANYTHING an EA tells you. They lie about everything - square footage, other “bids”, etc. Give them the same level of credibility that you’d give to a well-dressed beggar explaining to you how they just need €20 to “get the train home” because they lost their wallet.

I think this is the first G, B.E.R I’ve seen,
thought the lowest rating was reserved for cow sheds.
I guess slipping the guy an extra 30 does make a difference after all.

myhome.ie/217767

Wahoo - sorry to say I think you’re wrong about the “huge overhang” of much better houses - that’s simply not the case.
The 3 you point to all have one thing in common - zero (or postage-stamp sized) back gardens. Families don’t want these, and the sellers just can’t seem to accept that they are not “worth” as much as they once were.
Back when people planned to keep trading-up, they were not so fussy - now they are buying for keeps.
So houses that tick all the boxes (good sized WITH garden) are selling at or around asking (unless priced at 2006-7 levels, but the EAs seem to know not to try this lately).

That said I think the property being discusse here is overpriced - the EA actually told me when I viewed it that they based the price on the recent sale of Kwetu on Sorrento road, which failed to sell at auction and then went for over over the AMV in the post-auction bidding war. But that house was larger, had more character, and had a decent garden…

It’s a bit puzzling really… and hard to figure out what’s going… but there are multiple bidders for certain properties, mainly under the €1m mark.

Hi,

Appreciate the point and it does look like the Ardbrugh house is on a larger site - and the “Dalkey” name (dunno how that compares to Sandycove or Dun Laoghaire). Maybe that explains the premium that they are asking for…

Now I don’t trust EA text, but they claim that Clarinda Court is “enjoying a westerly facing rear garden of 10.6 m (35 ft).” Now it needs 100-200K work but would leave you with a house more than 2x the times of the 1970s dormer that Ardbrugh is.

Likewise Gosford park - from the pics - looks like a decent enough garden - although its not the phoenix park.

www.myhome.ie/218058

As I recall, there was also a large garden at the Carysford house in the heart of Dalkey that went for €625K

irishtimes.com/newspaper/pro … 33375.html

I still think what we’re seeing are a few buyers who can “just about stretch” to something that is “barely alright” for a family of 2 kids - who percieve value/are stupidly anxious about a “big rebound” in property prices. They tap out at around 600K and max in the low 700s…

On another note, given our unfolding sovereign debt crisis - you’d be nuts for making an irreversible life-chaning purchase decisions during the next 2-3 months…lots of downsides and no real prospect of an upside.

6 Carisle terrace has just fallen to 800K

viewtopic.php?f=23&t=26621

65K in difference…

MOD Edit: Watch the glee…

Next on complete wrecks for sale in Dalkey…(same agent)
myhome.ie/residential/brochu … lin/350659

650K each or double it to buy the pair.

Posh road but unattractive houses - north facing with big hill behind (no sun), large but very slopey gardens, and built right on top of the DART line.

In the past developers would have been tripping over each other to knock these down and squeeze in as many appartments as possible. It will be interesting to see if they sell in this market.

that Ardburgh Rd house now asking €675 daft.ie/searchsale.daft?id=562329 (and they claim they had an offer at 650? not anymore it seems…)

They should’ve taken the 650k offer that the agent says they declined. :angry:

Sold for 550k 29/04/2011 per PPR.