Month: April 2010

REA Property Auction: Has the market finally bottomed out?

REA Property Auction: Has the market finally bottomed out?

REA Property AuctionAll eyes will be focused this morning on the Real Estate Alliance auction where 59 properties are going under the hammer today for up to 60% less than their original asking price.

The auction, which kicked off at 11am in Dublin’s Shelbourne Hotel includes houses, apartments, commercial properties and development sites ranging in price from €60,000 to €1.5m. Most of what’s on offer today are located in the provinces where the market has taken a heavier hit than in the main cities and towns.

Some believe the auction will help provide the Government with a true valuation of properties across the country and will also reveal the answer to the million dollar question i.e. has the property market finally bottomed out?

Buy of the week: Brook Lodge, Oughterard, Co. Galway

Buy of the week: Brook Lodge, Oughterard, Co. Galway

Buy of the week: Brook Lodge, Oughterard, Co. GalwayBuy of the week this week is located just outside the village of Oughterard in Co. Galway. Constructed in 2001 Brook Lodge is a relatively new property and is also an individually architect designed house part of “small enclave of superior detached homes”.

The property is described as a “splendid family home” that comprises of 5 double en-suite bedrooms over a floor area of 4,000 sq.ft. The property comes with a serious long list of features which includes; a master bedroom with large bathroom and spacious walk-in closet, top quality fitted kitchen by Marcs Interior World, a central vacuum system, a basement with storage, a gym! And a Southwest facing rear garden!

Survey Shows First Time Buyers Ready to buy

Survey Shows First Time Buyers Ready to buy

Survey Shows First Time Buyers Ready to BuyAccording to MyHome.ie, the number of people who plan to buy their first home in the next year is on the rise. A recent survey carried by the property website has revealed that two thirds of first-time buyers hope to make a purchase in the next 12 months, a 7% rise since last Autumn.

Not surprisingly, the survey also showed that first time buyers are looking for cheaper property with 5% fewer respondents looking to buy a property between 300K and 350K, 4% more searching in the 200K to 250K. The three bed semi is the property type of choice as apartments continue to remain out of favour.

Rental Scams: Beware of The Phantom Landlord

Rental Scams: Beware of The Phantom Landlord

If you are in the market to rent beware of the so-called Phantom Landlord. Rental scams are still alive and well and all would-be tenants are still being advised to take precautions before handing over money for any rental property.

Be advised that MyHome.ie will never ask you for money. We only advertise properties on behalf of agents and landlords so your agreement is them. No payment will ever be made to us and any agreement entered into is done so at your own risk.

The phantom landlord can come in many guises but two are most prominent i.e. the meet and greet deposit scam and the email / online deposit scam.

First off, the meet & greet deposit scam
Potential tenants view a rental property and are requested to pay a deposit and at least one (if not two) month’s rent in advance to confirm they will be renting the property. When you turn up to move in you find the keys don’t work and you cannot access the property. The person who showed you the apartment is nowhere to be found and not contactable. You, the ‘potential’ tenant will find yourself joining a long line of other potential tenants, who have also handed over the money to the same phantom landlord.

Should empty, unfinished houses, ghost estates be demolished?

Should empty, unfinished houses, ghost estates be demolished?

Should empty, unfinished houses, ghost estates be demolished?According to a few sources & reports released earlier this month the stock of empty homes in Ireland soared 30% in the three years through 2009 and it is now estimated there are between to 345,000 and 352,000 vacant houses in Ireland.

Bad-bank NAMA aims to buy €80billion of property loans as part of a government plan to free up lenders but has warned only one third of loans – €27bn of the €81bn to be taken over by NAMA are functioning with debtors paying money owed or at the very least some of the interest on the loan. As a result, NAMA chief executive Brendan McDonagh told the Oireachtas Joint Committee on Finance this week that it may be forced to knock down unfinished property developments outside Dublin…“We may well be faced with the very difficult decision of perhaps knocking down certain developments”. …

Garden & Outdoors
Growing your own Strawberries

Growing your own Strawberries

Growing your own StrawberriesYou can grow your own fresh Strawberries in a pot outside the door. A strawberry pot can hold 6-8 strawberry plants and will fruit with delicious fruits all summer long if you water and feed it well. This is the time to plant them up. First they will flower with bright eyed white flowers and then the fruit starts to swell. Expect to pick your first delicious strawberry in early June.

You can also sow strawberries in hanging baskets, window boxes and big flower pots. This method suits them very well as the fruits can hang over the edge and be free of soil. In pots and borders, strawberries are best surrounded by a few handfuls of straw. It keeps the soil warm, stops the soil losing moisture and stops the strawberries lying on the soil. That is why they are called STRAWberries after all! …

One in three struggle to pay bills

One in three struggle to pay bills

 One in three struggle to pay billsResults of a survey carried by the Irish Mortgage Corporation have revealed that almost one-in-three Irish consumers admit they are having problems paying their bills.

Their Personal Budgeting Survey shows there has been a 59% increase on last year on the numbers struggling last year to meet their payments on mortgages, loans, credit cards and electricity bills. Close to three out of four consumers said they plan to reduce their spending further in 2010 to cope with higher charges, particularly rising mortgages rates. Ways of cutting back on spending included prioritizing paying off high-interest debts such as credit cards, more than a third said they will cancel their family holiday while one in four said they planning to cut their pension contributions. Not only that but the survey showed that one-in-five mortgage holders said they had been preparing for increases to their monthly repayments by saving…

Grand Design: Wilford House, Shankill, Co. Dublin

Grand Design: Wilford House, Shankill, Co. Dublin

Grand Design Wilford House, ShankillAs it said in the paper a house anywhere in the country that comes on the market today with an asking price of €6.5 million definitely prompts a closer look.

Wilford House, a Georgian detached residence dating back to circa 1790’s is located just outside Shankill Village in Co. Dublin. Have been recently renovated (and taking two years to do so) this near perfect period house has it all. The property retains all the stunning features of its era, including ornate ceiling coving, centre roses, window shutters and marble fireplaces while being completely upgraded into a stylish contemporary family home. This remarkably spacious, luxurious and elegant home extends to 645 sq.m and is further complemented by a separate coach house, extending to 200 sq.m! …

Greed knows no bounds: Rise in mortgage rates

Greed knows no bounds: Rise in mortgage rates

Although the European Central Bank (ECB) left its rates unchanged yesterday for the 11th month in a row Bank of Ireland followed AIB today by announcing an increase in their standard-variable rates. The increase from 2.6% to 3.1% for both existing and new customers will add an extra €80 a month to the repayments of a €300,000 mortgage.

Thousands of homeowners who are vulnerable (and already hard-pressed,) to these rising mortgage rates are now being warned that they have seven days to act. Commenting on the rate rises Karl Deeter of Irish Mortgage Brokers said, “There is a very short window of opportunity now for those seeking security around the level of their future mortgage repayments to act fast before the rates increase further.” He continued, “These rises come in a year of cuts, levies, higher tax costs and deflation. It seems their greed knows no bounds.” …

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