New Housing Estate Fionn Laoi, Ballincollig


After you said this went down this morning as it was typical Autumn foggy/sunny morning and not a problem. There are other houses lower down in an adjacent estate and they don't have a problem. The area doesn't seem damp especially with all the rain this summer. There wasn't any sign of flooding. Show homes open this weekend Sat&Sun 3-5
 
Any one else go to the Show houses today, big crowd there. 4 bed was nice not sure about the 3 bed (the interior design). They seem to have changed spec in so far as 3/4 are now 3 beds. All seem to be selling well and looks like they are still going ahead with Sports Amenities which will be great as a lovely setting. We've already bought in but was great to actual see it! Finally!
 
Nice to see the houses yesterday - very spacious for a new development. However the prices are outrageous and totally out of step with the reality of the current market. Expect big drops in the price in the next 12 months.
If you're interested haggle and don't be fooled by the "no discounts" attitude of the estate agent. Talk directly to the builder if necessary. If they smell a potential sale they will negotiate. Remember builders countrywide are in big trouble with the banks - they need your business much more than you need them!
 
villa 1 said:
My main concern is that with the downturn in the economy the developer will not be able to sell the current houses available leading to an unfinshed building site. There are plenty of examples of this countrywide at the moment.
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Don't think that will be an issue with a site so close to Cork City. I don't have hard facts, but I guess most unfinished sites are county rather than a prime site such as Fionn Laoi.
 
I wouldn't agree with that. Take a look at Ruden Homes development on Forge Hill - lots of empties there. The property slump affects everyone.
The banks have tightened their lending criteria and the builders won't drop their prices. - stalemate. Someones gotta blink first.
Of course now that the Government literally 'own's the banks and FF are at the helm maybe they will apply pressure so that their builder friends can shift their unsold stock to eager first time buyers. Anyone for 45 year/multigenerational mortgages?
 
Saints said:
Don't think that will be an issue with a site so close to Cork City. I don't have hard facts, but I guess most unfinished sites are county rather than a prime site such as Fionn Laoi.
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Absolutely not true. All property, city and county is effected, - both second hand and new builds.
 
We should be all so gratefull that the super heroes in FF have decided to bail out their builder/developer buddies. God help those 100% 40yr mortgage holders if the prices drop dramatically, i,m sure their banks will help them out!!
Hopefully McInerneys will stop playing hardball and take a few bob of their selling prices. Looks like the developer has decided to build on demand and if this is the case fionn laoi will be a long time in the making especially if they can't shift what they have built there
 
The budget in a few weeks will tell a lot too. If the government acts to provide low interest loans or grants to 'help out FTBs' you'll know the bail out is underway.
 
Hi, We would definitely be interested in the 4 bed semis but not at 390K......this is a crazy price in the current market.....think about it in a 5 yr plan, buy for 390 spend 30-40k on it over the next 5 yrs, allow for inflation etc, you would be hoping to get 440-450k for it to move up the ladder

Not to many people will pay 440 for a semi I'm afraid....you are moving into a whole new arena

I have seen the show house and think it is fantastic and very spacious and well finished, gardens are small but McInerneys will have to rethink the pricing structure....then I would happily part with the hard earned lolly!!
 
Totally agree. Lots of space!!! The attics are huge, loose the smallest bedroom to an additional staircase and suddenly you get an additional two good size attic rooms, converting the 3 bed semi at 1307sq foot to a 4 bed, closer to 1900 sq foot!
 
Guys , I am not too sure of buying home there as there are fair chances that this area may get flooded in future. I know we had a brief discussion about it before, however we certainly need more into depth discussion before we go ahead and invest our hard earned money in this estate. I checked the flood maps on [broken link removed], and I was shocked to see that the area adjacent to Manor hill had multiple/recurring floods in past. My point is if we buy our home there and at any time in future we have floods there then it will not only be a matter of inconvenience for all of us but also we will be putting our money where we can never get it back because no one will be ready to buy homes there.
 
When was there a flood in a housing estate in Ballincollig? I've lived here for 8 years and don't remember one, has there been flooding since the Iniscarra dam was installed?

Also, where the tennis courts and soccer pitches are going can also flood without impacting on the Fionn Laoi estate. I'd say its pretty safe.

Looking at the flood maps website mentioned above, there are many more houses a lot closer to the flood line than on the Fionn Laoi estate.
 
I'm sorry but has anyone else noticed that the developers here are promoting there own development...suspect or what???????????

I'm still bewildered why people are buying in unfinished sites, don't they know its going to get worse than better for the next few years, by then these once prime/luxuary developments will be the new "no go areas"

what my main concern would be if the builder went burst, what would happen to the remainder of the houses and the development as a whole, there a thousands of developments across the country, partly finished and will remain this way for the foreseable future...whats worse is that the builder won't maintain them or will have gone burst, so you will looking at a ugly eyesore after a few years and a hang out for youths, unsociable behaviour etc.
Also many builders are trying to sell to the councils either as council houses or affordable houses at big discounts, so that they can repay the banks and prevent going burst..so still paying 400K maybe good now but not a good deal when you have a council house next door!!!!
My advice, look for a second hand house in a nice development thats finished off, you may have stamp duty, but long term, a better investment
 
johnnyg said:
I'm sorry but has anyone else noticed that the developers here are promoting there own development...suspect or what???????????
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Excuse my ignorance why is that suspect?

Also reading the annual report and accounts for McInerneys its the UK arm of their operation which is struggling. The Irish operation is holding well in difficult times. Reading an independent review in the Sunday Business Post a few weeks back confirmed this. They have been around for over 100 years, this recession is clearing out the cometition, which is only good news for the big players in the Irish homes market, so would be surprised to see a big name like theirs dissappear, however in these turbulent times, anything can happen. Just ask Lehman Bros!!!
 
Agreed you often see new posters on threads like this talking up particular developments. On most occasions the poster never comments on any other thread.
 
well its against posting guidelines and

There are 3 posters here who have only ever commented on two threads and both have been about this development...if this is not suspect well!!!!

If you are the developer then state it upfront instead of pretending to be a potiential buyer...this is not what this website is about
 


The suspect has become the reality. Beware potential buyers. At one stage, I was so keen to buy house there, but now it seems a remote possibility.
[broken link removed]
 
I am not the developer!!!! The only reason I have only posted on this thread is because this is the only thread which interests me.

The news about Property developer Liam Carroll is worrying though. I am interested in buying, but McInerney are digging their heals in and not dropping prices here. These prices have remained the same since they day they opened their doors back in April/May for the 4 bed, the 3 bed went UP €5,000!!! Plenty of posts here have said they will only buy if prices drop, but they are not. Is that because since the show houses have come online, genuine interest has increased and people are buying at the asking price?

Saints (not Mr McInerney!!!!!)
 
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