Cant sell a 2 bed Apartment in Dublin 8 (near Usher's Island/Guinness's)

They may not love it but they are looking for advice on how to shift it and reducing the price is an obvious thing to look at.
 
aristotle25 said:
If you are advising someone that a car space has no value then you are wrong.
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Are you seriously suggesting that a car parking space in a dodgy area of Dublin in the current climate is worth at least 70 grand?
 
foghorn said:
Are you seriously suggesting that a car parking space in a dodgy area of Dublin in the current climate is worth at least 70 grand?
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I was wondering that myself. OP you have to check out the price of similar apartments and price accordingly. Even better would be if you know the actual sale price rather than the asking price. Have you asked your auctioneer for a realistic valuation.
 
Senna said:
I think you need a reality check, negotiate up?? what market are you looking at?

Once you drop the price you will never get more than that, nobody will even pay asking, so expect offers of -10% if your price is some way realistic and -25% if the price is unrealistic.
If the OP has had no offers i'd say their price is in another bracket altogether, madness. Drop your price till it gets offers.
But unlike someones advice above, dont drop your price by a set amount every month, anyone who is looking will pay close attension to the market and see this pattern. Why would they put an offer in this month is next month will be -10/20/30k.
I cant advice a price as i dont know the area.
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I priced a property I sold in the last month at a realistic price for a sale, 10% below the going rate for the area, after 6 viewings and couples going head to head I eventually sold it with an increase of 9% above my original advertised price

Know your market!
 
sold a one bed in that area for €240k in May. That was a long time ago in terms of sentiment. You will have to have your apartment looking the best and priced well below the competition to get a bite. Remember 2 bed houses in Crumlin and Cabra are easy to get now at €300k so think about your competition.
Under no circumstances should you expect to negotiate up from your asking!!
 
I agree that your asking is way too high. I sold a 2 bed (no parking) in the area for €270k - this time last year. It was just off the South Quays, so a little lower than those on the Quays, but I'd guess your asking needs to drop to €250k at least (and if it's not in good nick, do a quick paint and tidy - you may not get the value of it back, but it will help to make the sale for you)

HTH

Brava
 
That is teeny tiny for a 2 bed. My 2-bed (+1 parking space) is 82 sq m and would be valued now at approx. 280 000 euro max, and even then would only sell for about 250-260 000 max, if I were to try to sell it (not that I am planning to). It is in a different part of Dublin, but the prices here have been on par with Dublin 8 all along, so would be a relatively good guage of what you could expect.
 
werner said:
I priced a property I sold in the last month at a realistic price for a sale, 10% below the going rate for the area, after 6 viewings and couples going head to head I eventually sold it with an increase of 9% above my original advertised price

Know your market!
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OK, so did you know that by pricing it at 10% below 'going rate' (is that different to advertised rate?) that you would get a bidding war going and did you know you would finally get above your advertised price? or was it just great luck? I know which one it is.

Either way, to say to someone that you can negotiate up from your advertised price is probably the stupidest thing i've ever read. You may have been lucky (assuming i believe you) but is this (the discussion i was replying to) really good advice to be giving seller, pick a realistic price, if you get it great, if you get close, you probably didn't do too bad, but dont expect more than the price you set.
 
Senna said:
OK, so did you know that by pricing it at 10% below 'going rate' (is that different to advertised rate?) that you would get a bidding war going and did you know you would finally get above your advertised price? or was it just great luck? I know which one it is.

Either way, to say to someone that you can negotiate up from your advertised price is probably the stupidest thing i've ever read. You may have been lucky (assuming i believe you) but is this (the discussion i was replying to) really good advice to be giving seller, pick a realistic price, if you get it great, if you get close, you probably didn't do too bad, but dont expect more than the price you set.
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A bidding war is a seller's paradise and a purchaser's nightmare. In these situations asking price is meaningless.
 
A property is worth as much as somebody is willing to pay. If there are no people coming a-knockin on the door it's becasue it's for sale for beyond what a person has decided is a reasonable price to pay.

Remove the blinkers and stop reminiscing about how it was in 2007. It's 2009, there is a recession on and it's only in it's infancy.

If you price your property below its market value and undercut other sellers in the area, as others have said, it will get punters through the door and more than likely initiate a bidding-war between purchasers up to their maximum price they are willing to pay. The property will then sell for it's true value.

End of rant....
 
Well said daithi28. I just went sale agreed for 40% below peak price for a 2 bed with parking in d8 (230). I did the obvious thing of presenting it well for sale as well. Pricing is the main facto, lower your price, market forces etc I can't stress how important pricing is, buyers now are only looking at realistically priced places, there are so many vendors who are still pricing at 2006 levels, with maybe a 10% reduction, it takes more of a reduction than this, get real!
 
Sell it by auction with a reserve of about 225k, and hope for the best, remember the longer you leave it in the current climate, the price will continue to drop.
 
Your looking at a price of well below 200k at this stage. I really believe that. I know the area very well.You don't sound like you are being realistic.If you want rid of it then keep lowering the price. You bought in to a bubble and may have left it too late.
How much did you pay for it as a matter of interest?
To all of those talking about bidding wars. What country are you living in? There ain't going to be any bidding wars for apartments in this country.
 
Auction with a reserve.
Get a tennent in with a longer than 1 year contract and
try and get the return up to over 4% and sell as a Rental Investment property.
Speak to the County Council about the RAS Scheme for long term rental option.
Dont listen to dooms day senarios
But good luck.
Sorry
 
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