Board index » The IRISH PROPERTY BUBBLE » The Golden Circle » NAMAwatch (Pt. I)

Post new topic Reply to topic  [ 185 posts ]  [Go to page]   Previous  1 ... 14, 15, 16, 17, 18, 19  Next
Author Message
 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Fri May 18, 2012 8:12 am 
Offline
Under CAB Investigation
User avatar

Joined: Oct 20, 2010
Posts: 2238
Pyramid5 wrote:
just caught the end of this on Vincent Browne paper review, but one of today's papers is claiming that 6m worth of houses have been sold by NAMA to date, not sure if this is the total or just the sales relating to this scheme. I suspect it is for this scheme the way the panel were commenting on it

Yes, that would seem to be the case, although in the space of two weeks they can really only have gone 'sale agreed' rather than having been 'sold'.

http://www.independent.ie/national-news ... 11529.html

_________________
banana republic, septic isle


Top
 Profile  
 
 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Mon May 21, 2012 12:27 pm 
Offline
Too Big to Fail
User avatar

Joined: Aug 21, 2009
Posts: 4532
Location: Mesopotatia
Quote:
NAMA sells €6m worth of houses in two weeks after guarantee
HOUSES worth €6m, backed by NAMA's new price guarantee, have sold in just two weeks.

The price guarantee, officially called the deferred payment initiative, means that anyone who buys a house at the current price will be protected against falling into negative equity.

Under the scheme, if the price should be lower in five years' time, NAMA will ensure that the bank will write-off up to 20pc of the mortgage.

And despite some concern that the prices of homes included in the scheme were higher than comparable properties on the market, there has already been a surge in interest.

In Dublin's southside three buyers have placed deposits on four-bedroom houses being offered at Carrickmines Manor which ranged in price from €295,000 to €310,000.

Estate agent Gina Kennedy of Douglas Newman Good says that the only house remaining on her list is a three-bedroom with a €275,000 price tag.

At Killeen Castle, Co Meath as many as 17 of the 18 luxury homes on sale under the scheme went 'sale agreed' within days of coming to the market.

<snip>...



http://www.independent.ie/national-news ... 11529.html

Edit: Sorry Johnny, just saw your link above

_________________
The real damage is done by those millions who want to 'get by'. The ordinary men who just want to be left in peace. Those who don’t want their lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what?
Sophie Scholl


Top
 Profile  
 
 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Wed May 23, 2012 7:39 am 
Offline
Too Big to Fail

Joined: Nov 9, 2006
Posts: 4492
Location: South of the Border
16 units sold and a further 16 reserved according to the NAMA guy on the radio just now


Top
 Profile  
 
 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Wed May 23, 2012 1:18 pm 
Offline
Too Big to Fail
User avatar

Joined: Nov 2, 2008
Posts: 3794
Location: Inside a series of tubes.
"Reserved" in a new one on me. So not "Sale agreed", more like "I like the look of that blue one on the left, can you set it aside for me til tomorrow".

_________________
I no longer use this account except for posting about Salesporn.net.
salesporn.net: all your hot house on house action


Top
 Profile  
 
 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Wed May 23, 2012 1:44 pm 
Offline
Real Estate Developer

Joined: Apr 28, 2010
Posts: 797
evilal wrote:
"Reserved" in a new one on me. So not "Sale agreed", more like "I like the look of that blue one on the left, can you set it aside for me til tomorrow".


Not that unusual for a new development, wasnt in the past anyway, reserve a house for a purchaser until the booking deposit comes through. Doubt if any of them could be "sold" so quickly though, so would say it is 16 sale agreed and waiting for deposit for the 16 that are reserved.


Top
 Profile  
 
 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Wed May 23, 2012 8:44 pm 
Offline
Single Home Owner

Joined: Sep 25, 2010
Posts: 197
grumpy wrote:
HissingSound wrote:

Capt. Phil Yarboots wrote:
It creates a very odd situation in that falling house prices would suit the buyers of NAMA homes. After 5 years, they would have a lower mortgage if prices fall.


If I were a buyer in this scheme, I'd still much rather the price rose on my leveraged investment, money being what it is. This is the most blatantly shallow thinking here.


Why? It's 90% leveraged. Very moderate uplift in gain. Need to compare to the capital you've prepaid and saved in the interim.


Grumpy, are you any good at thinking, or did you just skip that entire step before you started typing?

If the price goes down, the asset you purchased has fallen in value. Under this scheme, you are compensated up to a 20% fall. No net gain for the buyer, but a loss of up to 20% is neutralized.

If the property grows 20%, for a 10% deposit, I've gained in net worth.


Top
 Profile  
 
 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Fri May 25, 2012 2:11 pm 
Offline
Too Big to Fail
User avatar

Joined: Aug 21, 2009
Posts: 4532
Location: Mesopotatia
Quote:
NAMA may extend pilot mortgage scheme to another 630 homes

NAMA IS TO CONSIDER extending its experimental ’80:20′ mortgage scheme – which aims to insulate home-buyers from the possibility of negative equity – to over 600 further properties, after positive public demand for an original pilot offering.

The scheme, announced by the State-owned ‘bad bank’ two weeks ago, saw NAMA make 115 homes in selected developments in Dublin, Meath and Cork available to buyers under a scheme that split their mortgage into two traunches.

snip...


http://businessetc.thejournal.ie/nama-m ... 9-May2012/

_________________
The real damage is done by those millions who want to 'get by'. The ordinary men who just want to be left in peace. Those who don’t want their lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what?
Sophie Scholl


Top
 Profile  
 
 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Sat Oct 06, 2012 8:59 pm 
Offline
Planning Tribunal Attendee
User avatar

Joined: Feb 6, 2008
Posts: 1198
Location: County Galway/Poland
Pairc Na Ri estate in Athenry, Co. Galway is now on scheme

http://www.daft.ie/1676150
http://www.daft.ie/1676149
http://www.daft.ie/1676148
http://www.daft.ie/1676147

It seems that asking prices are not extremely high, with similar estate about 1km away selling for 60k to 120k for similar houses.


Top
 Profile  
 
 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Mon Oct 15, 2012 1:38 pm 
Offline
Too Big to Fail
User avatar

Joined: Aug 21, 2009
Posts: 4532
Location: Mesopotatia
Quote:
NAMA extends 80/20 Deferred Payment Initiative to an additional 180 houses in 12 counties

15 October 2012 – The National Asset Management Agency (NAMA) has today extended its residential mortgage 80:20 Deferred Payment Initiative to an additional 180 houses in 12 counties.

The houses included in the new phase are located in the following counties:
Carlow Clare Cork Dublin Galway Kerry Kildare Kilkenny Limerick Meath Sligo Wexford


http://www.nama.ie/news/nama-extends-80 ... -counties/

Code:
Development Name                           Unit Number

Castleoaks, Dublin Road, Carlow                   21
Churchfields, Clonlara, Co Clare                  14
Tir Cluain, Midleton, Co Cork                      10
Castle Heights, Carrigaline, Cork                   3
Silken Park, Citywest, Dublin 24                  6
Carrickmines Manor, Glenamuck Road, Dublin 18         6
Pairc na Ri, Athenry, Co Galway                   18
Oakfield, Park Road, Killarney, Co. Kerry         6
Cluain Bhearu, Athy, Co Kildare                   4
The Weir, Castlecomer Road, Kilkenny               10
Castlerock, Castleconnell, Limerick                20
Silverstream, Stamullen, Co Meath                  15
Fitzherbert Wood, Slane Road, Navan, Meath         5
Ardfinn, Strandhill Road, Co Sligo                16
Elderwood, Castlebridge, Co Wexford                26

_________________
The real damage is done by those millions who want to 'get by'. The ordinary men who just want to be left in peace. Those who don’t want their lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what?
Sophie Scholl


Top
 Profile  
 
 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Mon Oct 15, 2012 2:03 pm 
Offline
Too Big to Fail
User avatar

Joined: Aug 21, 2009
Posts: 4532
Location: Mesopotatia
Some difference in the asking between these two housetypes in Castlebridge, Wexford in the same estate:

425k
4 bed detached, 206 sqm:
http://www.daft.ie/searchnama.daft?id=411435

215k
4 bed detached, 165 sqm:
http://www.daft.ie/searchnama.daft?id=420615

_________________
The real damage is done by those millions who want to 'get by'. The ordinary men who just want to be left in peace. Those who don’t want their lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what?
Sophie Scholl


Top
 Profile  
 



Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 185 posts ]  [Go to page]   Previous  1 ... 14, 15, 16, 17, 18, 19  Next

    Board index » The IRISH PROPERTY BUBBLE » The Golden Circle » NAMAwatch (Pt. I)

Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to:  

Follow, Retweet @dailypinster



Pyramid Built, Is Better Built! - Latest Property Discussions www.thepropertypin.com