Ballina Co Mayo

tyoung

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I am about to bid on a property in Ballina. Anybody from Ballina or know the market fairly well? The market seems dead in the water. properties seem to sit for a long time and some seem to have been withdrawn without sale. i was thinking of offering well under the asking price.
Regards
 
Offer what you feel its worth with one caveat, estate agents usually price to within 10% of fair current market value but you never know if its 10% up or down . If houses stay on the market a while it could be the asking is too high or it could be title /leasehold/ground rent problems like Lord Lucan still 'owns' Castlebar.

If the houses are all freehold and the titles are sound then the prices are too high.

Ballina is not exactly boomtown and a €200k house may really be worth €182k if you apply the 10% rule mentioned above. Something under €180k may not amuse them :D

HTH
 
Put in a bid for 160k ... so what if they are not amused.

Supply and Demand works both ways.
 
Bid 20% below the asking ?? , off with ya so and tell us how it goes :D
 
2Pack said:
Bid 20% below the asking ?? , off with ya so and tell us how it goes :D

If the properties aren't selling, then I don't see a problem with this, there's plenty more fish in the Ballina sea.

You wouldn't be so shocked if the property received 20% above it's 'true market would you?
 
Culchie said:
You wouldn't be so shocked if the property received 20% above it's 'true market would you?
Who sez I'm shocked. I just told him how they normally price and ask and if absolutely nobody rings him back after he punts in his -20% bids then he knows why

I would pay money NOT to live in Ballina meself . Westport is more like me :D
 
The market is indeed 'dead in the water' there. Infact, I'd even go as far as saying that there has never been a market for property there. Poor roads and infrastructure, an ageing population, it's sheer remoteness and the growth of Castlebar have meant that it's been left well behind in recent years. Therefore I think you'd be well within your right to offer 10% below the asking price. The only issue with buying in Ballina is that you almost certainly will get no capital appreciation.
 
2Pack said:
Who sez I'm shocked. I just told him how they normally price and ask and if absolutely nobody rings him back after he punts in his -20% bids then he knows why

I would pay money NOT to live in Ballina meself . Westport is more like me :D
Ah that was uncalled for. Ballina is a beautiful spot with lots to offer. Westport is nothing in comparison.
 
westport is not all it is cracked up to be.....
terrible traffic........hen night heaven.....and very expensive
if you can live rurally in mayo you have a great quality of life
ballina has a lot to offer and is undergoing a huge commercial rejuvenation
huge hinterland (half of co. sligo and out to belmullet and pontoon/foxford and tubbercurry)
would not buy to let there but for commercial ventures has a lot of potential
 
markowitzman said:
westport is not all it is cracked up to be.....
terrible traffic........hen night heaven.....and very expensive
if you can live rurally in mayo you have a great quality of life
ballina has a lot to offer and is undergoing a huge commercial rejuvenation
huge hinterland (half of co. sligo and out to belmullet and pontoon/foxford and tubbercurry)
would not buy to let there but for commercial ventures has a lot of potential

I'd agree.

Just because I said to put in a low bid doesn't mean I don't think it has potential.
 
Thanks everybody
I like Westport. I remember going to see a showband on a Friday night in the old Starlight Ballroom! That was a new experience for a Dub. Boy has that town changed and maybe not for the better as Marko says.
Roskolnik I appreciate your post. I fully understand the potential for lack of capital appreciation which is why I'am concerned about the purchase price. We're buying for family reasons and hopefully won't be selling for many years.
Ballina reminds me a bit of the way Westport was 20 years ago. That's not meant as a putdown. I think it's a very nice place to visit but I don't know how I'd feel about living there. If I did, I think I'd have to work on my golf handicap!
Anyway I took the under but I stayed inside 2pack's 10% rule. Now we seem to be haggling over curtains etc
Regards
 
If the offer was accepted that quick I think you may have offered too much and there was no competition. Maybe the boom is really over.

What price are other properties in the development/estate going for.
 
Sunnyboy said:
If the offer was accepted that quick I think you may have offered too much and there was no competition.
Yep. If they were straight away discussing -10% as if it was the right price all along then the Culchie was right and I was wrong . Its a buyers market.

All you need is one person to accept a -20% offer or lower even.
 
markowitzman said:
westport is not all it is cracked up to be.....
terrible traffic........hen night heaven.....and very expensive
if you can live rurally in mayo you have a great quality of life
ballina has a lot to offer and is undergoing a huge commercial rejuvenation
huge hinterland (half of co. sligo and out to belmullet and pontoon/foxford and tubbercurry)
would not buy to let there but for commercial ventures has a lot of potential
No disrespect but in the short to medium-term, there simply is no future in Ballina. The town lies in a depressed and peripheral region with an ageing population and a massive 'brain drain' to places like Galway. True, it's town boundaries are big and it does contain a sizeable hinterland in terms of acreage, the population isn't there. I'll warrant there's maybe 500-600 in Foxford/Pontoon and maybe 1,000 in Belmullet. Don't think I'm a begrudger, I have very happy memories of the place but unless the town actually gets some substantial investment (multinational) then there really isn't a hope for any commercial ventures.

Don't be too disheartened though tyoung, at least you're paying a sensible market value for your home. I hope you're happy there :)
 
these lads seem to want to put the few quid in!?
[broken link removed]
and loads of zoned land awaiting development
[broken link removed] which is why the multiples are pouring the money in
unfortunately your populations quoted are wildly inaccurate and relate to the town centres only and do not reflect the rural environs.
with 30000 plus in north mayo there is good business to be done in the area. Agree on multinational but in order to get one you first need a TD and then a minister!
Not a Pee Flynn clone I hasten to add!
 
Be careful what you wish for.

I was watching a Money Programme type of programme about Tesco in the UK on TV about a year or two ago. Tesco build massive out of town stores that sell everything from a needle to an anchor. I think one in every eight pounds spent in the UK is spent in Tesco. Their prices, especially at the start, are very competitive. They put on loads of promotions and sponsored everthing locally. "Hey We're the good guys. We want to offer you super value for money." Their real purpose of this is ingraciate themselves with their customers and to kill off all the smaller local shops, grocers, butchers, clothes, electrical, drapers, sweetshops, newsagents. Okay everyone wants cheaper stuff but there is a cost to be paid.

Before you know it the town is a wasteland filled with charity shops, estate agents, banks and pubs. The whole Town loses its character something which IMO Ballina has in spades.

By the time locals realise that they don't really want to shop in these huge Tesco shops and they want to go back to the smaller shops it's too late. All the other shops have all closed or gone to the wall.

Walmart has also been heavily slated for doing the same thing in the USA where they created massive retail wastelands.

In Dublin for example there are very few small shops. Dunnes Tesco Superquinns Lidl and Aldi account for most of the supermarket shopping. There are also some smaller symbol shops as well, but there are very few local, non symbol shops.

(Michael Ring is your only man)
 
that horse has bolted years ago.....best hope of getting people into towns is good commercial centres with multinational anchors cf castlebar sligo galway with the minimum of traffic hold up (preferably out of town) and oodles of parking.
agree wholeheartedly on michael ring........my number 1 every time!
 
so am I ........stuff like "brain drain" is ridiculous.
so so many professionals have returned to the area it is beyond belief
town built on probably the premier salmon river in Europe worth millions to the area
30 mins from a premier international airport that will be going transatlantic within the next 3-5 years without all the hassle of Dublin etc
Raskolnikov were you last in Ballina in short pants?
 
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