fatmanknows
Registered User
- Messages
- 53
- Status
Here's the article:
A black week for auctions
http://www.unison.ie/irish_independent/stories.php3?ca=303&si=1701408&issue_id=14736
They're talking about how AMV's are set too far below reserve price. This has been an ongoing problem for potential purchasers who waste time attending auctions. Don't confuse it with strong auction results. This week was another washout in auction rooms.
T
teknostic
Guest
FGM Doyle - I didnt make that up - I dont write for the Indo.
just pointing it out. if it had been the other way round, I'm sure a lot of
you would have been quick to pounce.
just pointing it out. if it had been the other way round, I'm sure a lot of
you would have been quick to pounce.
T
teknostic
Guest
whathome, that isnt the actual article on page 3.
post a link to it then.
This must be it:
Vendors more willing to accept offers
http://www.unison.ie/irish_independent/stories.php3?ca=9&si=1701578&issue_id=14736
Points to a weakening market.
Vendors more willing to accept offers
http://www.unison.ie/irish_independent/stories.php3?ca=9&si=1701578&issue_id=14736
Points to a weakening market.
T
teknostic
Guest
not every piece of print that goes into the hard copy edition goes online.
and I'm not typing it up.
and I'm not typing it up.
don't worry, I provided a link to it above.
I'd be in here but you said at the start that those who had not owned property could not be considered bears for some reason.
How about not buying because you are a bear rather than selling because you are a bear. I think there are quite a few in the "not buy" category.
/edit, perhaps it wasn't you who said it, but whoever started this "how many real bears?" sub thread did.
F
FGM Doyle
Guest
Plaudit, like you i am fearful of buying, because i'd hate to think i spent 380,000 on a house now and its sales value in 6 months was 330,000..is this a realistic fear?
Of course it is a genuine fear. 12 months ago ftb were afraid if they did not pay €340,000 to get their foot on the ladder they would end up six months down the road having to pay €380,000. Sentiment was that prices would continue to grow, so prices grew. The same will happen now over time as sentimet changes. It will not happen overnight, but the rising tide of debt will change how people look at property.
Maybe we make contributions in fishing but we've still got a few more years before we're helping out financially (even though we're allegedly the second richest nation in the world
).Bertie is pencilling in 2012/2013 before we reach that stage.
http://www.taoiseach.gov.ie/index.asp?locID=181&docID=2841
P
plaudit
Guest
I posted my numbers some time back but I could stretch €200K to upgrade but would be reluctant to do so as falling prices would mean I would be at a loss at the end of the process.
Indo reports on a strategy to reduce interest payments.
If the value of your house has shot up so that the outstanding loan is now less than 60pc of its value, then you could qualify for a reduction in interest rates.
No mention is made of the flip-side of this argument. What happens if/when house prices fall and your loan-to-value ratio moves into riskier territory ??
If the value of your house has shot up so that the outstanding loan is now less than 60pc of its value, then you could qualify for a reduction in interest rates.
No mention is made of the flip-side of this argument. What happens if/when house prices fall and your loan-to-value ratio moves into riskier territory ??
breaking news...
Newstalk just announced that the latest Daft report shows little or no growth in house prices during the summer months.
They had a brief interview with Eamonn Fallon from daft. He said that some people were saying that the slowdown in the summer was seasonal and would pick up in September. He said that there has been no pick-up and what is actually happening is a "Fundamental Shift" and a "Change in consumer sentiment" towards the housing market.
Newstalk just announced that the latest Daft report shows little or no growth in house prices during the summer months.
They had a brief interview with Eamonn Fallon from daft. He said that some people were saying that the slowdown in the summer was seasonal and would pick up in September. He said that there has been no pick-up and what is actually happening is a "Fundamental Shift" and a "Change in consumer sentiment" towards the housing market.
Interestingly at least one of the Fallon brothers doesn't own property! I heard him on tha Dave McWilliams podcast a while back. Interesting for someone in the business.
P
phoenix_n
Guest
Slowly what some people think(or know) here is coming into the public domain. Each similar news piece confirms to a new bunch and reinforces to others that the market has changed.Repetition breeds retention. It will have a cumulative effect and effectively the autumn selling season is cancelled.
Those needing to buy should hold on for spring sales.
P
plaudit
Guest
I go for a walk most nights, past a new housing estate, the first phase finished, 12 or so houses, the rest being built. The house closest the road is empty, the lights come on in the same room every night and the central heating kicks in at the same time. You notice the pattern as you observe it every night. I wonder how smug the specuvestor feels, spending money on heat and light, beaming that his house has gone up about 20% in the first year (enough to cover stamp duty and legal fees) so he is now at breakeven point with his investment. But what if house prices don't rise in the next 12 months, he has to pay ongoing heat, light and insurance costs and his capital, if invested in a bank would earn interest and be very liquid.
It defies logic.
It defies logic.
- Status