Put advert of my property for sale in letter boxes?

The reason that I have my property advertised at 340 k and I would accept 320 k is because the EA has advised me that any offers I get will be up to 20k below the asking price. i.e if I had the asking price at 320 k id only get offers of 300 k.

Yes I see all of your point that an offer of 300 k is better than no offer. However its not as simple as that. I have other debts as well as my mortgage to clear due to a failed business venture.

I have done an exercise on all of the properties for sale in my development. There are 21 in total on myhome.ie Of these 12 are 2 bed apartments. Mine is listed as the cheapest by 10 k . The 2 beds for sale range from mine at 340k to 410 k.

Should this be enough to generate some interest?

My EA has warned me not lower the price further until the New Year when we will reaccess it.

Is he worrying about his commission reducing as the price falls or is he acting in my best interests?
 
lowering commission by 10k may only cost the EA 100 odd euro. Its not likely to be the reason why he wishes you not to lower yet as stated if it was dropped 50k or so he would get the guts of his commission handier so I feel he is acting in your best interest with this advice.

Think about it would you buy a house coming up to X mas or be out house hunting keenly in the cold and dark?

All the other storie aside you have been given, this is a poor time of ANY year to be desperate to sell.
 
Camry said:
Hmmm.

An economist would be more likely to say that there is a state of excess supply. At the prevailing price demanded by suppliers, buyers are unwilling.

It means prices are too high for the market to clear (bring demand into line with supply)
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Rising rents would not indicate excess supply, it indictaes people renting instead of buying and therefore prices too high rather tahn excess. A strong rental market would surely still indiucate a demand for accomodation.
 
...........or a strong rental market might indicate that people are choosing the comparatively cheap, care-free benefit of renting whilst keeping maximum flexibility in a declining economic environment. In a downturn people choose to be property-free to meet eventualities such as migration to another part of the country to follow jobs, or immigration to another part of the world, to follow jobs.
 
monkeyboy said:
Rising rents would not indicate excess supply, it indictaes people renting instead of buying and therefore prices too high rather tahn excess. A strong rental market would surely still indiucate a demand for accomodation.
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Rents are falling though according the the CSO.
 
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Look at the graph for the number of rental properties in the country. This combined that the fact that developers who have been unable to sell new developments are now turning themselves into BTL investors.

Excess supply again would indicate that this trend will halt any further increase in rents
 
If you paid 250K 2 years ago, then all things considered (interest rates, economy, oversupply etc.) , I see no reason why you should expect somebody else to pay you any more for it now. Surely the best thing to do is start at 250k and see what people are prepared to bid the property upto.

If it does not get close to what you want then you don't sell it.
 
MrKeane said:
If you paid 250K 2 years ago, then all things considered (interest rates, economy, oversupply etc.) , I see no reason why you should expect somebody else to pay you any more for it now.
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In fact anybody paying 2005 prices now would in fact be paying more every month than the OP was when he bought due to the IR rises.
 
SPC100 said:
I don't disagree, but [SIZE=-1]I think illiquid market is a more appropriate description of the problem[/SIZE][SIZE=-1] the seller faces - a market in which there is little volume traded. This happens during all asset crashes.[/SIZE]

[SIZE=-1]People are afraid of this asset class at the moment, and are unsure of current valuations due to the illiquid market.[/SIZE]

[SIZE=-1]To trade this commodity product, you need to put your offer in front of as many market participants as possible and entice them.[/SIZE]

[SIZE=-1]As posted already, Price is a definite enticement, as is better marketing of your product.[/SIZE]
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Yeah, volume has dropped by 50% since January in the second hand market, from 5200 units per month down to 2600 units per month.
 
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