anyone in Carlow/Kilkenny region be it town or rural trying to sell property?

A

angela59

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Hi,

Just wondering is there anyone in Carlow/Kilkenny region be it town or rural trying to sell property at the moment? Would love some feedback if anyone is interested in replying - how are viewings going, advertising etc- I would appreciate any replies but please don't mention house prices.

Many thanks,

Angela59
 
Hi Angela,
Am selling a house in east Laois, about 15miles from Carlow and have found it v.v.slow. Is that your experience too?

Granted my place is what they would call a 'specialist' property and it is not in great order but I've really had to work it very hard with estate agents. Is your agent failing to introduce your house to people who would like to buy it?

I'm with my fifth agent at the moment and - to be fair - this has been the best so far. I had one agent who was insisting on my spending €000's on further extensive renovation, I had another who wouldn't market the house, another who couldn't market the house and yet another who generated loads of interest, but none from anyone actually in the market for that type of house.

I notice a lot of for sale signs around the place and they're staying up for a long time. I think some parts of the area are being marketed unsustainably as commutable to Dublin, with city-style apartments and duplexes springing up in rural villages.

What's your experience?
 
Hi Paulone,

Our house is one-off built 15 years ago on 1 acre rural location about 1.5 miles to nearest small town and 8 miles to carlow - so not too rural. We had it with two auctioneers from march to june - only 2 viewings so got rid of them. Changed end of June to another auctioneer - he put about 10 people through in July - we had an open house for 1 hour on two saturdays, 1 person viewed beginning of sept had another open house last weekend - no one turned up. The house is ready to walk into, am into gardening so needless to say we have a lovely 15 year old mature garden with manicured lawns and lovely views. The house and garden couldn't look any better. We have dropped our price twice, you have to reach a level where you say enough. We having planning permission to build another house on 3 acres of land that we own - thinking ahead to when my children are older - hence we bought the 3 acres so that they can either build or sell the site to get them on the property ladder when and if the need arises. Getting very disillusioned with property market and I think estate agent is aswell. Thanks for replying, it is nice to get feed back from people like yourself, I think until the budget in December when we wait and see with cowen reduce the stamp duty from 9% to 5% as suggested by the CIF - what impact this will have? Keep me informed of developments with yourself and likewise I will do the same.

Angela59
 
angela59 said:
Hi Paulone,

I think until the budget in December when we wait and see with cowen reduce the stamp duty from 9% to 5% as suggested by the CIF - what impact this will have?
Angela59
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Last year everyone was waiting for the budget..... then it was until the election..... now various VI's are floating their latest brainwave....lets reduce SD.... If this happens and fails to rejuvenate the market what next, the total abolition of SD? That will take another year ......

Markets don't care what price one pays for an asset (or feel what an asset is worth).
 
angela59 said:
I think until the budget in December when we wait and see with cowen reduce the stamp duty from 9% to 5% as suggested by the CIF - what impact this will have?
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Would reducing your own price by 4%, or stating in the brochure that you'll pay the buyers stamp duty liability, not have the same effect?

If not (and it hasn't so far after 2 price cuts), why would any interferance by Brian Cowan (beyond just giving people money) have any effect?
 
Hi howitzer,

The trend at the moment is not to give the asking price which is fair enough - I feel that if I were to reduce by another 4% (which I would be willing to do) but I fear I won't even get that price - I'd probably get another 4% below that again which would be 8% reduction there is only so much of a hit you can take. If a purchaser came in with an offer I'd work with them to reach an agreed price between us. At the moment it is hard to get viewers through door I feel until after christmas. The buyer's stamp duty liability on this house would be 9% -E60,000 - a bit of a hit to take.
 
angela59 said:
Hi howitzer,

The trend at the moment is not to give the asking price which is fair enough - I feel that if I were to reduce by another 4% (which I would be willing to do) but I fear I won't even get that price - I'd probably get another 4% below that again which would be 8% reduction there is only so much of a hit you can take. If a purchaser came in with an offer I'd work with them to reach an agreed price between us. At the moment it is hard to get viewers through door I feel until after christmas. The buyer's stamp duty liability on this house would be 9% -E60,000 - a bit of a hit to take.
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I don't mean to be pedantic or annoying but I don't think hanging your hopes on a post xmas, post stamp duty removal is recognising the problem - people just aren't buying at current prices. As you've said yourself dropping the price by 4% is having no effect, Brian Cowan effectively doing the same thing for you "should" have the same lack of effect, unless it's just a psycological spur to the market that you're looking for.

And what happens if the rate of stamp duty isn't reduced?

I recognise that you can't drop the price any lower, I think you have to start looking at other "what do we do now" options.
 
Hi Howitzer,

Yes I have already thought of what do we know - and the answer is to stay put for 4 or 5 years if needs be. I suppose with us it is not that we are trading up or down - we are simply trading - to build another house (with renewable energy) on more land for the sake of our children when they become of age. In realistic terms we are not in any hurry but having obtained planning you would like to move on but it depends on how desparate you get and the answer at the moment is that we aren't at that stage yet.
 
Angela59 could you buy more land around your current house, do an extension to it if needed etc.
 
Hi,
I have just exchanged contracts on selling my house in Kilkenny city.
Didnt get the asking price, but sale agreed within 7 weeks from being on the market, some people and estate agents still think they can get more for a property than this time last year - not the case.
Buyers are looking for value for money, if nobody is putting offers on your house then its simply too expensive..
Even if you drop the house 15%, presumably you will still have made a nice profit on the property?
 
I see your situation, and I'm inclined to agree with some of the other posters who are suggesting that you sit tight for the moment if you are trying to achieve a certain sale price.

No matter how attractive your house, if achieving the price is the primary objective, I don't think its a good time at all to be on the market.

There are still buyers out there and there is someone who'll buy your house, but someone genuinely interested might see your excellent presentation as 'icing on the cake' rather than the reason to buy in the first place, and any offer you might get will - as has been pointed out - be in line with the current trend, which is substantially downwards. I cut my price by a lot to achieve my objective - which is a sale.

If getting sold is your primary objective, it's important to make sure that as many people who genuinely want a one-off house set on an acre of well-kept garden and in that location get to see it. This doesn't mean tho that you would get your price.

The agent plays a huge role here and having met a number of them both in a buying and a selling role, I think that its the responsibility of the seller to drive the agent and make sure everything that can be done is being done.

If you're not that pushed, take the house off the market for six months and see what's happening next year. If you need to sell, sit down with the agent and thump the table hard. If the agent doesn't seem to play ball with you, drop them immediately.

FYI, I've had the best results with an agent located in a booming town closer to Dublin (but who also seems to like working with motivated sellers).

Good luck!
 
Hi bronte,

To answer your question about buying land around me - it costs E120,000 per acre where I am at present - I purchased 3 acres for E175,000 and have received planning permission on this. It is possible that we might stay put and renovate and hold on to the land we purchased for the children.

Hi Paulone,

We might have to cut our losses alright if we want to sell - on saying that to build the house we want to build is going to cost - I haven't approached builders yet to reduce in price. What scares me most is the finishing off to get the new house to the level we are at here. You can build a house for x amount but by the time you tile, paint, kitchen, floors, landscape you could add E200,000 on to the price of the new build.
 
You seem to be living in the perfect house and garden already, you have the 3 acres for the kids in the future. The fact that you have planning permission seems to be forcing you to want to sell. Look at it another way what would be the advantage of the new build bearing in mind that your current home is only 15 years old. Also do you have to invest for the kids futures in land? You could sell the 3 acres (may be worth more with the planning permission) now and invest the money elsewhere and also do the extension with some of the proceeds if needed. Don't forget that as the kids get older you might actually prefer a smaller house, so you may not actually need an extension.
 
Hi Angela

I'm in the opposite camp at the moment.

We are actively looking for a house. The finances are in place and we're ready to act immediately..........................

Only problem is we have absolutely no intention of purchasing anything at current asking prices. Current prices less 20 - 30 % and then we'll buy.
Affordability is not the issue here. The main issue is that houses have risen to such a height that they are too risky to buy. Nobody wants to pay 700K today to see it devalue to 550K tomorrow. Relative to other markets, France,Finland,Germany,Italy,USA we're simply out of kilter for no good reason.

I don't know if we are representative of many others out there but I just thought I'd give you the buyer perspective
 
APHRODITE said:
Hi Angela

I'm in the opposite camp at the moment.

We are actively looking for a house. The finances are in place and we're ready to act immediately..........................

Only problem is we have absolutely no intention of purchasing anything at current asking prices. Current prices less 20 - 30 % and then we'll buy.
Affordability is not the issue here. The main issue is that houses have risen to such a height that they are too risky to buy. Nobody wants to pay 700K today to see it devalue to 550K tomorrow. Relative to other markets, France,Finland,Germany,Italy,USA we're simply out of kilter for no good reason.

I don't know if we are representative of many others out there but I just thought I'd give you the buyer perspective
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Hi aphrodite,

A home is somewhere you enjoy and live in for many a year - true house prices have been very high here but building costs, land have also increased until recently. 20 to 30% reduction would be hard to digest for alot of vendors. Alot of the prices in dublin have been very frenzied over the last couple of years and this is what prompted me to buy 3 acres - for us to build on and also when my kids grow up I'd be able to hand them a site free or else they would sell that site and the money from the sale would give them a leg up the property ladder. They way things are looking I may well be staying where I am - of course we would take a hit on price but having spend alot of hard earned cash over the years building up the house, landscaping and whatnot to take a 30% hit, I couldn't do it. Good luck if and whenever you decide to purchase a home.
 
I've just bought a 4 bed semi, in Carlow town, for €282000. It was properly built in the 70s, with concrete walls so you won't hear the neighbours breathing. It needs about €40k put into it and we also intend to build on a sun room. Proper decent size garden in a very quiet cul de sac, walking distances to church, shops, schools etc
Property in Carlow is very cheap in comparison to the rest of the country, an almost identical one to the house we are buying is for sale in Sandyford in Dublin at the minute for €750K
Property in some areas is overvalued but Kilkkenny and Carlow seem fair value. Remember as well that they risk of too many more interest rates seems to have declined, strong rumours the govt may do something positive to mortgage int relief in the budget and perhaps most importantly of all, the Carlow/Castledermot bypass next year will make south Carlow and Kilkenny far more attractive to commuters to Dublin.
PLenty of new houses for sale in Carlow town, most are just bog standard semis but the Castle Oaks Developement looked really good
 
I sympatise Angela59. I have had mmy house on the market for over a year with no success.

I've had 3 price reductions - 20% in that time but still no buyers. Its now for sale for less than i paid for it in March 2005. I've also put much money into it.

BTW before I get smart comments I bought the house as a home, I never expected to have to sell & didn't envisage making a profit. It rankles however to sell at a loss
 
angela59 said:
You can build a house for x amount but by the time you tile, paint, kitchen, floors, landscape you could add E200,000 on to the price of the new build.
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WOW 200,000 on fittings and landscaping!

angela59 said:
....only so much of a hit you can take.
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I don't understand what your taking a hit on! You may have paid €70,000 or €80,000 (CSO national house price) for your house 15 years ago. You can't take a hit on an estate agents estimate nor can you take a hit on what the Jones next door sold for in early 2006.

I was in the same boat myself, in CW concidentialy, and found that the agent overvalued the house substantially and so got no sale. Then when instructed him to knock off 12% and sold (and closed) within 8 weeks. That was in January this year.

APHRODITE said:
The main issue is that houses have risen to such a height that they are too risky to buy. Nobody wants to pay 700K today to see it devalue to 550K tomorrow.
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Exactly and this is where Angela59 is caught. Her buyer has to hand out over 700k for the house which may not compare favourably to a new house like this one www.daft.ie/1295847 or www.daft.ie/1245004

She has to hook her buyer by finding someone half interested, have the auctioneer drop the price substantially to hook them in with stories of bargain/location/may be taken off the market etc etc
 
Hi davidoco,


Looked at both these houses and no disrespect but wouldn't part with what I have for either. Seen as your such an expert - how much do you think would it be to landscape i.e. tarmac, electronic gates, grass, shrubs, trees, kitchen, floors, tiles - addition of sunroom, underfloor heating, cedar decking, kitchens and all that goes into finishing a 3000 sq foot house. I'd like your expert opinion on the above. I don't intend on hooking any buyer at all - I am willing and have reduced but won't give my house away either.
 
angela, I'm just kinda wondering if your house is so nice why do you want to get rid. It may be the case that the reason you want to sell is the reason others may not want to buy it. I know its difficult but if you can get an honest opinion from someone not emotionally/financially involved in your house to tell you why you might not be getting the sale.
 
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