there will be changes in stamp duty and that people are holding off to wait and see, our EA has a very negative view on things ans saying that if we hold out we could get less as prices are dropping by 20K, but i'm wondering if he just wants to get a sale (targets etc)..any suggestions would be appreciated
In my opinion the market will reveal itself in March '07 so its up to you whether you want to wait till then.
i'm aware of the rate increase aswell, but EA put the asking price lower than we requested as i know i won't make the 20K back but was hoping to get an extra 10K on the asking price..the EA was as pushy the first time aswell and we got stung because of it (thats my opinion, i full sure that the EA would disagree), this time i'm more hesitant and want to wait and see
Can you tell me why you think this and what do you think will happen, as a FTB I would be very interested to see what you think. Apolgoies in advance for going off topic.
We have just gone sale agreed on a 3 bed semi in Arklow for €317.5k and we're starting to get cold feet about paying that for a house down there with the way the market is going.....
Can you tell me why you think this and what do you think will happen, as a FTB I would be very interested to see what you think. Apolgoies in advance for going off topic.
We have just gone sale agreed on a 3 bed semi in Arklow for €317.5k and we're starting to get cold feet about paying that for a house down there with the way the market is going.....
Your predicament is subject to two opposing forces:
2) estate agents generally sell houses for 5-10% less than they would otherwise fetch if you held on a bit longer. (They do this because once they have an offer on your house for let's say 300k, they earn 3k, assuming 1% fee. To sell if for 320k, they would need to manage another round of offers for an extra benefit to them of only 200euro.)
Therefore, people should be advised to ignore agents' recommendations and hang on for another 4-8 weeks to get a better price.
This is a generalisation and dosent make a lot of sense. Believe me if agents were going to get 5-10% more by waiting they would wait. Agents will price the house according to the market and the vendors will be in agreement with the sale price and the vendors will have the final say in the sale price. In my experience the vendors know the market better than anyone and will soon know if the agent is selling 5-10 % below market. Its in agents interest to get what the market will offer as this is the maximum fee. If an Agent is not getting market prices they will not get the instructions in the area and its lights out time for the the valuer. Agents recognise the market is changing and are trying to adapt by lowering exectations and prices this is a different matter entirley. Whats the point in paying an agent if you are going to ignore advice. Listen to advice and make your own mind up by all means. I understand that you feel that you were badly advised before but maybe this was at a time when the market was rushing ahead or maybe the agent got it wrong. Utimately the call was yours to sell. To write off the advice of agents and to assume they are all 'generally' not acting in interest of clients becaus of this incident would be questionable. Ironically I believe that agents are partly responsible for the over selling - over hyping and generally contributing to the mess that is the current state of the irish property market.
Why dont you take your time with sale and see whats happenning down there.
We are stalling signing the contracts just to see what happens but we kind of need to move into this house before Xmas. The thing is we paid the deposit 2 weeks ago and on the receipt it said contracts have to be signed by us by Nov 31st & our solicitor only got them in the post yesterday with no closing date on them, but it said closing would be a month from when vendor signs...like get off your high horse!.
I have seen people mention a few times before that they think there will be a lot of new property on the market in january. Why is this? Is there normally a glut of new houses on the market in the new year?
I have seen people mention a few times before that they think there will be a lot of new property on the market in january. Why is this? Is there normally a glut of new houses on the market in the new year?
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