living:room, Reveal potential when buying, selling or extending your home

Selling a Home - Challenges and Opportunities

With so much competition in today's housing market, would you like to:

Widen the appeal of your property to potential buyers?
Show buyers if there is the potential to add space and add value?
Show buyers if that potential could help the property weather the market?
Show buyers how it could be adapted to create their dream home?

How can living:room help?

The Challenges

The property bubble has burst and our residential streets are no longer paved with gold – we’ve all seen the headlines and not everyone can afford to sit tight and wait for things to improve. Property values continue to drop month on month, supply exceeds demand and properties are taking longer to sell – on average 6 months at the beginning of 2008.

Rising interest rates combined with restrictions in lending and continuing changes in the housing market are reducing buyer confidence, which the IIB/ERSI Index recently reported as being at the lowest level since records began in 1996. Today’s buyers are looking for value for money.

The Opportunities

However, houses are selling when marketed at the right price and a Myhome.ie survey of buyers published with the NCB Property Barometer for April – June 2008 revealed that:

38% intend to purchase in the next 12 months;

1 in 7 have mortgage approval and 1 in 8 are awaiting approval;

The majority of buyers have funds available for a deposit.

How does this affect you?

What this means for sellers is that the longer your house remains on the market the more money you risk losing.

For example, if you were to put your house up for sale at €400,000 (the average house price in Dublin in December 2007 – see info box, right) and the market were to continue to drop at a rate of approx. 1% per month, then the affect of the current market on your house would look something like this:

Asking Price	€400,000
Value at end of Month 1	€396,000
Value at end of Month 2	€392,000
Value at end of Month 3	€388,000
Value at end of Month 4	€384,000
Value at end of Month 5	€380,000
Value at end of Month 6	€376,000
Overall Drop in Value	€24,000

The key to selling in the current market is to make your home as attractive as possible to buyers, pitch it at the right asking price and sell as quickly as possible.

How living:room can help:

A living:room property report can:

Identify the opportunity to add space and value to your property,

Identify if there is enough potential to ‘future-proof’ the property against fluctuations in market;

Widen its appeal to potential buyers for a quicker sale,

Provide valuable information saving buyers time and money.

View a sample report >>

For more information call us now on 087 678 0895 or fill in the enquiry form on our contact page>>

What's the story?

The Permanent TSB / ERSI House Index report for end of year 2008 indicated that house prices dropped nationally by on average 9.1% for the year (13.3% when adjusted for inflation), compared to a fall of 7.3% in 2007.
Dublin house prices which saw a sharp falls in Oct and December, saw an average decline of 11.7% compared to an average of 10.2% elsewhere in the country - the steepest declines were in the commuter counties around Dublin - Wicklow, Kildare, Meath & Louth - where average prices fell by 16.8% during the year.
Falls in interest rates have been good news for existing homeowners but there have been further restrictions on new mortgage lending in the wake of the Banking Crisis in 2008. However, the Government have announced that under the recapitalisation of the AIB and Bank of Ireland, mortgage lending by these institutions will increase by 30% in 2009.
A survey published by the Irish Auctioneers & Valuers Institute in Jan 09, indicated that their members did not expect the market to improve until 2010, with a predicted fall in house prices of between 5 - 10% this year.

Terms & Conditions | Sitemap | Privacy Statement

Site design by Senses Design

"));