WIW achill rd drumcondra

Interesting one this.

The two sides of a semi-d on sale simultaneously, though not together.

one in pretty decent condition, the other a complete refurb.

please note a very overbearing extension on the house beside number 8; you can see it from the sattellite view.

What ye think…?

myhome.ie/residential/brochu … -9/1704005

myhome.ie/residential/brochu … -9/1739459

am interested in these myself. the burning question is what are refurb costs? Both houses are the exact same, including same floor size circa 134m2.
also what price hassle?
no 10 is walk-in quoting 495k. too expensive obviously how much is hassle factor worth to people.
there aren’t many red-bricks that are walk-in in drumcondra glasnevin in this price range.
this will be very interesting to watch.
won’t be jumping on either of these myself. theres a long way till the bottom, methinks.

Anyone know how much no.8 went for at the auction?

was told it sold at auction for €266,000 - €9,000 less then the reserve.

Thats interesting.

How do auctions work in that respect? If the reserve in this case was €275k…I thought it meant the vendor would not sell below that amount.

I noted the other two properties at that auction failed to sell.

Anyone know anything more?

Tks…

add in €100k for the refurb, and that price would value the place next door at around €370k…good bit below asking.

As far as I know, there are usually two reserves, the auction reserve, which is public, and a hidden seller reserve.

If the bidding reaches the published auction reserve the seller must sell.

However, if the bidding fails to reach the public reserve, but reaches the hidden seller reserve, it will still sell. The auctioneer knows the hidden reserve and can declare the property sold (or not) even if it does not quite make the public reserve.

This is also why the public reserve prices are usually quoted as “RESERVE NOT TO EXCEED €80,000” i.e. the hidden reserve is less than or equal to €80,000

Price database update: So number 10 went for 445 and 8 did go for 266. But if the auction was on Dec 6th is it unusual that the transaction did not get booked until 24th May?