me that they are now ready & keen to buy as they believe the market is bottoming out. Viewings are up and offers are coming in. However, the issue now is that listings are way down as home owners are reluctant to put their homes on the market. Homeowners who purchased over the last 10 years who would be trading up now are staying put – this is leading to a shortage of supply. There is no doubt but there is a pent up demand by buyers. The law of supply & demand dictates when supply is short and demand is high – prices invariably begin to creep up. Further statistics from the CSO indicate that house prices are undervalued by 15-20% (1st May 2012) Buyers – don’t get alarmed as we are told they are expected to rise only by inflation at 2% per year.

Attention Buyers

1. Speak to a good mortgage broker – they will know who are offering the best rates and the best deals and will shop around on your behalf
2. Make sure you get at least three quotes when you are getting an engineer to survey your home(prices can vary by €200)
3. When you are choosing your solicitor ask for the total cost to include VAT – again there are huge differences in what different solicitors charge. It is vital to ensure you have a pro active solicitor working for you as often they can make or break a sale
4. Try to wait until you have lived in your new home for a few weeks to buy new furniture as if you buy beforehand the items you choose might not suit or fit in your new home.

Happy house hunting and please feel free to contact me – I would be delighted to be of assistance.

The basic premise of renting or buying is not simply about a comparison of gross cost of one versus gross cost of another. You have to factor in interest rates, property value changes, changes in the price of renting and taxation considerations. We also need to consider the term or amount of time.

In the calculator a  snapshot is taken of the position in year 10. Granted, mortgages are taken out for far longer terms but to look into the future beyond a decade introduces too much uncertainty. Furthermore, the average life of a mortgage is less than 10 years and while people may not be buying to move, they still may do so and in order to create a scenario we look at three broad positions:

1. Purchase in the here and now
2. Wait 5 years then purchase
3. Don’t buy for 10 years then purchase

The ‘rent forever’ option isn’t included, although for cost purposes you can consider the cost (take out the capital outlay) from choice 3 and just work with that.

Copy and paste this link to get directly to the calculator: http://www.myhome.ie/rentorbuy

Properties are selling more quickly, while the number of houses waiting to be sold has fallen to its lowest level in four years. These trends are tentative indicators that the housing market is nearing the bottom of its long downward spiral. As the country enters the fifth year of property price falls, a new Daft.ie report out today offers reason for a little optimism. It recorded the smallest quarterly decline in prices for that period. The report also shows that selling conditions are improving in some areas, with 40pc of properties in the capital now being sold within three months.

However, the total number of properties for sale, at 54,000, is the lowest it has been for four years. While that is viewed as a positive as it means houses are not languishing on the market, the lower number for sale is also the sign of a severely “depressed” market. And because the survey focuses on asking prices only, it is likely that many houses are being sold for far less than the figures quoted.

Daft.ie’s Ronan Lyons said the latest figures suggested more stable asking prices and faster sales. “The question is whether it’s sustainable,” the Oxford university-based economist said.

“My own sense would be that we would want to see at least two quarters of stable or increasing asking prices before we could make any call about what’s happening or that a bottoming out has occurred.”

Speed There has also been a boost in the speed of property sales in Connacht and Ulster, although Munster stayed constant at 29pc selling within four months. Despite the signs of increased movement, Daft warns there won’t be any real breakthrough until the banks start lending again. And even then, it will take a long time for confidence and activity to grow to a level where the housing market can be considered healthy.

1. Remove Emotions from the Equation.
Selling your home can be an emotional time.
The key to a successful sale is to remove the emotion from the equation. You have to look at each individual offer from a financial standpoint instead. If you allow your emotions to get the best of you then you might say or do something that causes you to lose the deal altogether.



2. Evaluate the comparisons in your area.
In a volatile property market, home values can change on a daily basis. Check out what homes sold for in your area. It is essential to confirm the sale agreed price, as the guide price on a property sometimes might have no bearing on a sale agreed property. A professional auctioneer will have no difficulty letting people know the correct sale agreed price.(unless they receive instructions from the owner not to release the price)

3. Make a Counter Offer
When you receive an offer, no matter how low it seems, review the recent sales of homes in your area. It is likely the buyers are looking at the same comparisions, which is where their offer figure originates. 

Make a Counteroffer After discussing the offer with your auctioneer, go back to the buyer with a counteroffer. You might want to meet the buyer in the middle. If they go low and you go high, then there is wiggle room to negotiate. Use the recent sales prices for homes that are similar to your home in your area. A counteroffer might be all it takes to salvage the deal

4. Evaluate the Terms & Conditions
A buyer’s offer is not just about the price. The offer has a lot of terms and conditions attached to the price as well. Be sure to evaluate these terms and conditions to ensure they meet your standards as well. For example, if the price is low but the buyer satisfies other criteria, then it might be beneficial to accept this offer over a buyer that is asking you to pay some closing costs. The closing date and other contingencies are considerations you should evaluate as well. 


5. Ensure any conditions you make are accepted in writing.
All property deals that are being sold by private treaty are subject to contract, however if you and your buyer agree on certain terms, such as what is not being left in the home make sure this is in writing so all parties are clear and agree. This can save on a lot of stress later in the deal

Part of selling your home is an emotional decision. In reality, however, you must look at it from a financial point of view. When you consider one or more of these five steps t Ensure any conditions you make are accepted in writing so all parties are clear and agree. This can save on a lot of stress later in the deal.



Part of selling your home is an emotional decision. In reality, however, you must look at it from a financial point of view. When you consider one or more of these five steps to deal with a low offer from a buyer, you might just be able to salvage the deal.

Clean up the kitchen

Studies have shown that one of the dirtiest places in the home is the kitchen. Before you put your home on the market, pull out those rubber gloves and give everything a good scrub so that the kitchen sparkles. Replace unsightly floor tiles, or in a worst-case scenario, consider a complete floor makeover. Pay special attention to the kitchen units; in older homes, it is common to see cracks in the grout between the ceiling and the trim above the cupboards. For less than 10 euro, you can buy a pre-mixed tube of crack filler and make it look like new. Also, to give the kitchen an inexpensive facelift, consider replacing the doors on the units – an affordable way to give doors and drawers a second wind.

Clutter is a kitchen killer

Kitchens are the focal point of almost every home. A great rule of thumb for the staging of a kitchen is to leave no more than two appliances on your counter. After you have uncluttered the kitchen counter, brighten and soften the space by adding some fresh fruit, new dishtowels, a cookbook, and plants or flowers.

Modernizing today will help you sell tomorrow

Modernizing your kitchen can help you sell your home for years to come. Renovating your kitchen now will let you enjoy new appliances while boosting the value of your home for the future. While you may want to take specific appliances with you, stainless steel can make almost any kitchen sing. Another way to add value to your kitchen is to install concealed appliances – hiding the dishwasher and fridge, for example, can really spice up your kitchen for buyers. Also popular are dual microwave/convection oven – another appliance quickly becoming a staple in most modern kitchens.

If you can’t replace appliances, be sure to have them repaired and cleaned. It’s also a good idea to clean your fridge and stove, as buyers will almost always open oven and fridge doors.

Lighting

Take the time to make sure all the existing light fixtures have working light bulbs. Make sure the blinds are open on all the windows and, if required, add a small table lamp or two to accent a dark corner.

… And the kitchen sink

Another good idea to consider is to upgrade your “sinkware.” New taps, soap dispensers and sinks (whether you are reglazing or replacing altogether) are affordable ways to give the kitchen an immediate facelift. Don’t forget, buyers love to turn on the kitchen taps when touring a home.

The kitchen is the most important room and biggest selling feature in your house. Staging it properly can make every potential buyer say, “this could be my kitchen.”