Board index » The IRISH PROPERTY BUBBLE » NAMAwatch (Pt. I)

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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Tue Sep 30, 2014 12:12 pm 
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Dubhgeannain, I know of a recently married couple renting in your area. Both born n raised and working there and they were turned down based on insufficient local need. One wonders who is building all of those MacMansions out around there ;-)


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Tue Sep 30, 2014 3:08 pm 
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Dubhgeannain wrote:
Quango Unchained wrote:
Do banks lend to those looking to self-build?

If it was straight-forward enough to obtain financing for building your own homes, surely that would help keep a lid on things.


I'm looking in the East Meath area. Have been living in Ratoath for 5+ years. I work in Meath also, and have done for 6 years, but am not eligible to apply for planning permission.

FPP sites where local needs don't apply is the only option for me and a they're like hens teeth. I've only gone to look at one site this year. I presented the plans (2 storey, four bed, 1,900sqft) for that site to a QS friend of mine and he reckoned it could definitely be done for less than €200k for a builders finish.

I spoke to PTSB and they were willing to lend for it but I needed to submit a seperate application, naturally. In the end, the site really didn't fill us with hope. It appeared extremely flood prone.

Out of curiousity including the cost of site, develment levies, professional fees etc would it have been cheaper to buy?


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Tue Sep 30, 2014 5:19 pm 
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Not a hope. The asking for such a house in that particular area is north of 300k.

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The real damage is done by those millions who want to 'get by'. The ordinary men who just want to be left in peace. Those who don’t want their lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what?
Sophie Scholl


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Sat Oct 04, 2014 12:53 pm 
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Dubhgeannain wrote:
Quango Unchained wrote:
Do banks lend to those looking to self-build?

If it was straight-forward enough to obtain financing for building your own homes, surely that would help keep a lid on things.


I'm looking in the East Meath area. Have been living in Ratoath for 5+ years. I work in Meath also, and have done for 6 years, but am not eligible to apply for planning permission.


Go to European Court.

_________________
Why it was so windy there?... I am out.

For future reference, a 'soft landing' theorem:
06/2007: Central Bank predicts soft landing for housing
http://www.independent.ie/business/iris ... 96858.html
It's all grand


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Mon Oct 20, 2014 6:48 pm 
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I know some NAMA houses, new builds - in a smallish Cork town, Macroom. They're decent enough houses in a good location in the town. I think the builder was Fleming.

These are being sold in the same way as second hand houses, i.e they've a guide price of 132k. However there's demand and the last I heard all of the handful on houses were bid over 140k.

This could be argued as being "good" for the taxpayer but it seems unusual that new houses aren't sold at a set price. One of the attractions of new builds for many buyers is the fixed price.

It seems a little unusual for a state agency to be flogging houses in this way, or at least to be allowing its sales agents to do so.


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