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 Post subject: Featherstone, 3 Louis Lane, Rathmines (-785k -46.9%)
PostPosted: Fri Jul 09, 2010 10:22 am 
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Single Home Owner

Joined: Sep 17, 2007
Posts: 177
Reduced from 1.675m
http://www.ireland.com/newspaper/proper ... 31831.html

to 1,590m
http://www.myhome.ie/residential/search ... YBLN334750

Now at €1,285,000
http://www.myhome.ie/residential/brochu ... nes/288433

_________________
"In 2006, I put my money where my mouth was on this topic and bought a house to live in. The negative equity I
am in is notional and unimportant and is already exceeded by what I would have spent on the dead money that is rent."
- Marc Coleman (17/10/2010)

"Do you believe that we are looking into the apocalypse over the next few years? I do not."
(June 12, 2005: Damien Kiberd: Come on in, the debt's lovely)


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 Post subject: Re: Featherstone, Louis Lane, Rathmines (-390k -23.3%)
PostPosted: Fri Jul 09, 2010 11:23 am 
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Real Estate Developer

Joined: Nov 10, 2006
Posts: 983
Location: Dublin, Ireland
Rupert wrote:


This is Liz O'Kane's gaff? Previously it was just referred to as "3 Louis Lane", so I guess the new name is a rebranding.

Positive thinking: ask, believe, receive. Does this mean she has started to listen to negative people?

P.


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 Post subject: Re: Featherstone, Louis Lane, Rathmines (-390k -23.3%)
PostPosted: Fri Jul 09, 2010 11:29 am 
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Property Magnate
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Joined: Mar 5, 2008
Posts: 610
Image
The mirrors still there


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 Post subject: Re: Featherstone, Louis Lane, Rathmines (-390k -23.3%)
PostPosted: Fri Jul 09, 2010 11:30 am 
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Too Big to Fail
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Joined: Jun 28, 2008
Posts: 4532
This trophy home will now clear at the same price as "ordinary" semi-d's did in nice Sth. Dublin areas like Templeogue, Terenure, Stillorgan, Rathfarnham at peak. In other words €800k-ish.


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 Post subject: Re: Featherstone, Louis Lane, Rathmines (-390k -23.3%)
PostPosted: Fri Jul 09, 2010 11:31 am 
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Real Estate Developer

Joined: Nov 10, 2006
Posts: 983
Location: Dublin, Ireland
groom1 wrote:
The mirrors still there


Perhaps being able to watch yourself defecate is all part of a healthy positive-thinking body image.

P.


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 Post subject: Re: Featherstone, 3 Louis Lane, Rathmines (-390k -23.3%)
PostPosted: Mon Jul 12, 2010 8:12 am 
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Nationalised
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Joined: Mar 20, 2007
Posts: 8290
This was previously being tracked at
viewtopic.php?f=23&t=7932
That topic is now locked.

_________________
"Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide." - Bertie Ahern, 4/July/2004
"It is irresponsible to suggest that the ‘negative equity’ scenario that occurred in the late 1980’s in the UK could occur in Ireland" - Marie Hunt, Director of Research, CB Richard Ellis - Press Release 17/Apr/2007


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 Post subject: Re: Featherstone, 3 Louis Lane, Rathmines (-390k -23.3%)
PostPosted: Mon Aug 16, 2010 3:01 pm 
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Of Systemic Importance
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Joined: Sep 18, 2007
Posts: 5561
Currently property of the week at http://www.felicityfox.ie Also known as the the property formerly known as 3 Louis Lane

Better get in quick folks, it's only been on sale for three years

Never fear however, the vendor is apparently a property morkeshing expert. And with prices down up to 50% across the board, and even higher for 'top end' property, this very special property continues to outperform the market with its smaller than life price drops.


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 Post subject: Re: Featherstone, 3 Louis Lane, Rathmines (-390k -23.3%)
PostPosted: Mon Aug 16, 2010 3:08 pm 
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Real Estate Developer

Joined: Nov 10, 2006
Posts: 983
Location: Dublin, Ireland
xman wrote:
Currently property of the week at http://www.felicityfox.ie

Also known as the the property formerly known as 3 Louis Lane

Better get in quick folks, it's only been on sale for three years


Shall, we do the Ironic Quote of All Time? Oh yes, let's:

http://quotesfromthebubble.blogspot.com ... enter.html

Quote:
The Afternoon Show, RTE 1 TV, 15 October 2008

"If your house is on the market for a long period of time - i.e, 8 to 12 weeks - psychologically there is negativity going to be thrown at it. Potential buyers - even though they haven't viewed the property - may say 'God, there's something wrong with that house because the board's been up such a long time'.


The irony is so dense, space-time has actually collapsed around that quote.

P.


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 Post subject: Re: Featherstone, 3 Louis Lane, Rathmines (-675k -40.2%)
PostPosted: Thu Sep 16, 2010 3:16 pm 
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Single Home Owner

Joined: Feb 20, 2008
Posts: 189
Location: Dublin
http://www.myhome.ie/288433

Now €1m


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 Post subject: Re: Featherstone, 3 Louis Lane, Rathmines (-390k -23.3%)
PostPosted: Thu Sep 16, 2010 3:42 pm 
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Speculator

Joined: Oct 4, 2007
Posts: 463
Location: Just over there
It's still "worth" the original asking price, you know.......... :D


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 Post subject: Re: Featherstone, 3 Louis Lane, Rathmines (-675k -40%)
PostPosted: Thu Sep 16, 2010 4:50 pm 
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Neo Landlord

Joined: Jan 31, 2008
Posts: 262
It looks like something I would expect an IKEA team could design in a couple of hours.....


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 Post subject: Re: Featherstone, 3 Louis Lane, Rathmines (-675k -40%)
PostPosted: Thu Sep 16, 2010 6:04 pm 
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Under CAB Investigation

Joined: Jun 7, 2008
Posts: 2622
Still a lot more to come down by.

Maybe worth 300k.

Maybe.


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 Post subject: Re: Featherstone, 3 Louis Lane, Rathmines (-675k -40%)
PostPosted: Thu Sep 16, 2010 10:24 pm 
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Back Home with Mammy

Joined: Apr 5, 2010
Posts: 70
Quite nice but its a mews. And that means it up a lane way at the back of some other much nicer house.
Sorry honey. You missed the boat. You missed the market for selling a mews.
Around Euro 320,000 for die hards....


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 Post subject: Re: Featherstone, 3 Louis Lane, Rathmines (-675k -40%)
PostPosted: Fri Sep 17, 2010 5:53 am 
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Under CAB Investigation

Joined: Nov 21, 2006
Posts: 2350
mover&shaker wrote:
Quite nice but its a mews. And that means it up a lane way at the back of some other much nicer house.
Sorry honey. You missed the boat. You missed the market for selling a mews.
Around Euro 320,000 for die hards....


Nail, Head.


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 Post subject: Re: Featherstone, 3 Louis Lane, Rathmines (-675k -40%)
PostPosted: Fri Sep 17, 2010 11:03 am 
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Homeless

Joined: Apr 20, 2010
Posts: 5
mover&shaker wrote:
Quite nice but its a mews. And that means it up a lane way at the back of some other much nicer house.
Sorry honey. You missed the boat. You missed the market for selling a mews.
Around Euro 320,000 for die hards....


Not realistic. From an investment perspective, you can rent a 3 bedroom mews in this neighbourhood for 2,400 euros per month.

So if you are looking for a 5% yield on you money (to beat long term deposit interest rates of 2.5%), you should be paying 530k euros. ((2400 x 11 months) x 5%)

Of course, if you are spoilt for choice and "demand" a 10% yield on your money (to account for opportunity costs of locking funds into illiquid real estate and risk of further price drops), then yes a price of 264k euros is where you should be at.

However, in this neighbourhood and for a unique "trophy" mews, people do and will continue to pay a premium for ownership far above the yield value. If they can get a mortgage. Which they can't.


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