Lucan house prices

[casca]

hi, Friday afternoon 7th April. rang EA to enquire re Lucan house. Original price: Excess €340.000. Was told by girl who answered phone that price was €381,000 but when I expressed serious interest ,I was transferred to another person who, after some conversation, quoted €368,000 and arranged for me to see the house Sat.8th. Another person showed us around the house. We asked what was latest price. You could have knocked me down with a feather when we were told €380,000. I immediately whipped out my scrap of paper to check the price i had been given the previous afternoon and yes ,it was €368,000. Whereupon, I noticed the colour drain from our friendly EA's face. He swallowed hard and after a little spluttering ,regained his poise and assured us that ,indeed, the price did go up overnight. Yeah!

 

[Howitzer]

Laughable, but I think at the moment even the EAs don't know what the value of properties are and where to pitch the prices. At the end of the day the value is what the market is prepared to pay.

The lack of professionalism displayed here is, I would imagine, more a symptom of a business sector that has expanded too quickly with the effect having to of employ inexperienced staff.

 

[Kerryman]

I have seen evidence of this, but in a different way.

I bought a house for 168,000 in Jan 2005. Recently, I needed to get my house valued for a remortgage. The estate agent informed me that the house was currently worth 200,000. The finance company arranged for an architect to value the property. Amazingly, the value report came back a week later with a value of 168,000 (the original price).
I rang the architect's office, where I was told that the finance company put the expected value of the house down as 168,000 on some form they sent through. Hearing this, the architect produced another report saying that the property was indeed worth 200,000.

My question is, who is deciding the price of the property? The finance company or the architect? And, why am I paying an architect €150 for a valuation?

 

[Green]

I bought went sale agreed (Nov '05) in Lucan and what you say reflects what is going on..EA's in Lucan are just interested in getting as much as they can by, it appears, any means possible. In the end I have to agree with Howitzer if you really wnat the house then you might, in the current market, have to pay over the odss..its sad, given a lot of the lack of professionalism around, but its true..