Current public sentiment towards the housing market?

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soma said:
I was talking a few weeks back to an Irish specuvestor who had bought a property in florida about a year ago.

I asked him what he thought about the current situation in florida with the condo glut etc.

He looked at me blankly.

This was news to him - and he has alot of skin in the game. Does no-one do any research or keep tabs on their 'investments' anymore..?

Although in fairness to him, the Irish media have been very quiet about the US situation.
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http://housing-watch.com/regionview.aspx?city=Miami

A fool and their money.....
 
soma said:
A fool and their Bank's money.. ;)
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Much of it 'equity release' (a misnomer if there ever was one, as you don't pay interest on equity) on PPR's. Thankfully Irish people aren't this foolish when it comes to making decisions on property in their domestic market:rolleyes:

A nation of saps and easy marks.
 
Irish Times take on yesterday's auction results a scream:

"Buyers have been adopting a wait and see approach this week as the first big round of auctions got underway.
With supply thought to be about 20 per cent up on last year, many potential buyers were holding back, hoping that houses would be withdrawn and made available for less. The high level of withdrawals at auction yesterday underlines this approach, though there were pockets of good results, notably in Donnybrook where a three-bedroom period house was sold after auction for well over €3 million."

Is this not The Irish Times, totally in hock to the property market after its purchase of myhome.ie, trying but failing not to say that the market is in big trouble?
 
Lumpsum said:
Irish Times take on yesterday's auction results a scream:

Is this not The Irish Times, totally in hock to the property market after its purchase of myhome.ie, trying but failing not to say that the market is in big trouble?
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The IT has been in hock to the property market well before it made the schrewd purchase of myhome.
 
Buyers have been adopting a wait and see approach this week as the first big round of auctions got underway
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.

What do they mean by this? buyers buy. If they had said that spectators or possibly onlookers are adopting a wait and see approach, closer to the truth. And guess what? the longer they wait..........
 
A 3 bed semi house in my area has been put up for sale, the thing is the guy who owns it is head of buying properties for a major retail chain and used to work in senior position for a well known estate agents. He lived in house up until 2003 then moved to larger house nearby but kept this property. If property professionals are selling out then?
I have also been watching inventory in area and its has risen by 25% in last week and many of the properties in area are for sale for months. I had a look on myhome.ie at map of area showing properties for sale and map is quite packed with properties in area and nearby areas
 
Presume y'all saw the pile on today's IT prop section...Churchtown House. Bought in 97 for IR700k...after selling off 5 sites from the garden it's now on the market for 10m !! At current morgage rates this is approx 45,000 per month...can anyone tell me where I can get a job that pays this???

Deckchairs on the Titanic starting to slide.....

F.
 
I think the bears are being slightly too optimistic,we have yet to see the real stalemate develop between the buyers and sellers but it is begining.The huge number of withdrawls points to the fact that sellers have not yet accepted the new reality,a few smart one's will bite the bullet and take a small loss in profit.
Talking to a few bulls there recently,sentiment is begining to change but there's no panic yet as such.
Of course a stalemate is the last thing some of the vested interests want, no sales no commission.
 
thewatcher said:
I think the bears are being slightly too optimistic,we have yet to see the real stalemate develop between the buyers and sellers but it is begining.The huge number of withdrawls points to the fact that sellers have not yet accepted the new reality,a few smart one's will bite the bullet and take a small loss in profit.
Talking to a few bulls there recently,sentiment is begining to change but there's no panic yet as such.
Of course a stalemate is the last thing some of the vested interests want, no sales no commission.
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Nah mate its started. And the more buyers hold off the more pressure on vendor thus confirming buyers nervousness thus holding off longer putting greater pressure on vendors..........crash.

I think anyone here who can look logically at the market can attest that the autumn selling season has stalled. And we all knows what happens when a plane stalls......
 
phoenix_n said:
I think anyone here who can look logically at the market can attest that the autumn selling season has stalled.
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In fairness, the selling season is well up on last year - it's the buying season that has failed to kick in ;)
 
phoenix_n said:
Nah mate its started. And the more buyers hold off the more pressure on vendor thus confirming buyers nervousness thus holding off longer putting greater pressure on vendors..........crash.

I think anyone here who can look logically at the market can attest that the autumn selling season has stalled. And we all knows what happens when a plane stalls......
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Can we have a prize for the best analogy?!
 
hmmm said:
In fairness, the selling season is well up on last year - it's the buying season that has failed to kick in ;)
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A good one :p!

Still looking at some houses I see going up for sale around me I can't believe what they are asking for. They are all trying to break the ceiling price in the area. A 3 bed house in my area went on the market in April for 480,000 - fully finished, really top job. Went for over 500,000 in the end. That price was a real eye opener to how crazy things were back then. Now a 2 bed in the area - not as well finished, smaller and poor wooden single glazed windows..... is looking for 485,000.... I've never seen a 2 bed in the area sell for over 450,000 (very few are in top notch condition), but still, 485,000 is almost 10% above the ceiling for 2 beds.... What are estate agents and vendors thinking?????
 
This could be an attempt to be canny and give the impression of sustained price rise. I wondered if EAs would create an artificially rosy picture in the current climate by switching from from encouraging bids through undervaluing to to quietly accepting underbids through overvaluing. Thus the asking price would appear to rise yet be a poor guide to the actual settlement price.
 
genki33 said:
Have just bought off the plans.

http://www.dublincoastaldevelopment.com/index.html

Need to watch the video to appreciate the deal I got . ;-)
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Was that serious? whats with the giraffe only zoo?

The development will be constructed in five phases:
  1. The construction of the South Wall motorway to the proposed development site in Dublin bay.
  2. The construction of three artificial islands with a total surface area of over 12 square kilometers.
  3. Infrastructure finalised. The tracks for the luas link tramway are laid. The completion of the link to the East Point Toll bridge and the N11.
  4. The construction of the impressive central business district, the hub of commerce and industry.
  5. The construction of the residential areas. The 2 tiers of apartments and villas. Over 42 thousand separate residences.
Welcome to the future of Dublin. Welcome to your future.
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