Did a second viewing on a property during the week, and we intend to put in a bid in the next couple of weeks. It's in rural Munster, therefore the market probably hasn't bottomed out yet, but is possibly close to the bottom.
From the research we've been doing, it's fair to say that the available properties are:
Celtic Tiger era housing estate houses, turnkey - 40%
Standard Irish bungalow 70/80/90ies, need some modernisation - 40%
Standard Irish two storey 70/80/90ies, need some modernisation - 5%
Derelict - 10%
Other - 5%
I spoke to a local EA, known to my family and he said (an opinion I had in my head before he spoke):
"There are plenty of houses around, but very few good houses".
So, the house we're looking at falls into the 5% from above. It's less than 10 years old, is a bit different, and it is turnkey.
The quoted price is POA!
When I phoned about two months ago I was told the asking price is "€285k, she'd probably sell for €250k, €240k".
My wife has contact with him since we've showed interest. Whether he realises that I am the same guy or not, who knows?.
So when I asked the price on Thursday, he said "she's looking for €300k, but this is negotiable. There is no other interest in house at present".
Like I mentioned, there are plenty of other houses around the area, so in that sense it should be easy to walk away. However, "good" houses are scarce, making it harder to walk away. Here are my (admittedly very basic) price valuations:
I'm considering an opening bid of €222,500.
Do any recent sellers/buyers outside of Dublin have opinions?
From the research we've been doing, it's fair to say that the available properties are:
Celtic Tiger era housing estate houses, turnkey - 40%
Standard Irish bungalow 70/80/90ies, need some modernisation - 40%
Standard Irish two storey 70/80/90ies, need some modernisation - 5%
Derelict - 10%
Other - 5%
I spoke to a local EA, known to my family and he said (an opinion I had in my head before he spoke):
"There are plenty of houses around, but very few good houses".
So, the house we're looking at falls into the 5% from above. It's less than 10 years old, is a bit different, and it is turnkey.
The quoted price is POA!
When I phoned about two months ago I was told the asking price is "€285k, she'd probably sell for €250k, €240k".
My wife has contact with him since we've showed interest. Whether he realises that I am the same guy or not, who knows?.
So when I asked the price on Thursday, he said "she's looking for €300k, but this is negotiable. There is no other interest in house at present".
Like I mentioned, there are plenty of other houses around the area, so in that sense it should be easy to walk away. However, "good" houses are scarce, making it harder to walk away. Here are my (admittedly very basic) price valuations:
- Based on properties of similar type, size and bedroom (not an easy task), most others are asking about €215k. They are a lot smaller though.
- Using the SCSI website I estimate the reinstatement costs would be over €400k.
- From property price register it's hard to compare. If I'd a gun to my head, I'd average the price of the five houses in excess of €200k that were sold in since Jan 2013: €235.
- Based on the size of house I have a planning application in for (but won't be proceeding with), €245k
I'm considering an opening bid of €222,500.
Do any recent sellers/buyers outside of Dublin have opinions?