nigooner Posted December 13, 2011 Share Posted December 13, 2011 (edited) Must be sold auction partially completed houses in Carrickmore 6K each http://www.propertynews.com/Property/Omagh/PNC576338/Site-A-15-Rockstown-Road/181849509/Page1 These were sold at auction in Dec 2010, reaching £26k and £36k each. They were then auctioned off again in May 2011, reaching £11k each. It doesn't look like there has been any work carried out on them since they were first auctioned off (apart from maybe the boards being taken down over the windows). My money is on the buyers being outsiders, and subsequently being chased out by local 'thugs' who have affiliations to certain groups. Edited December 13, 2011 by nigooner Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted December 27, 2011 Share Posted December 27, 2011 Property auction buyers 'pay cash' ROI http://www.belfasttelegraph.co.uk/news/local-national/republic-of-ireland/property-auction-buyers-pay-cash-16095844.html Almost three quarters of buyers in a series of special property auctions this year paid in cash, estate agents have said. Of the 52 million euro worth of houses, apartments and commercial buildings sold, 72% were bought by people without needing finance. Estate agents Allsop Space are planning another five auctions next year, the first on March 1, and are aiming for 100 properties per sale. Robert Hoban, Allsop Space director of auctions, said he has seen a pattern of buying from people who sold homes at the height of the boom and stayed out of the market. Almost half of the properties sold in the auctions were income producing and sold with tenants. Other research into the sales found three quarters of properties handled by Allsop Space were in the hands of a receiver or liquidator. Quote Link to comment Share on other sites More sharing options...
Whiteabbey Posted January 5, 2012 Share Posted January 5, 2012 Will be interesting to see if anyone goes for the 20 flats in Greenisland. They did! "Sold prior to auction" http://www.propertypal.com/lot-10-20-flats-at-12-knocksallagh-green-knocksallagh-park-greenisland/176705 Quote Link to comment Share on other sites More sharing options...
HPCwhen? Posted January 13, 2012 Share Posted January 13, 2012 http://www.brggibsonauctions.com/properties.asp?Auction=B&offset=0 Long time no post - but always lurking!! Not sure if this has been posted? Any views - some of these prices seem really quite good to me....although I stand to be corrected...and I probably will be Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted January 13, 2012 Share Posted January 13, 2012 http://www.brggibsonauctions.com/properties.asp?Auction=B&offset=0 Long time no post - but always lurking!! Not sure if this has been posted? Any views - some of these prices seem really quite good to me....although I stand to be corrected...and I probably will be Thanks for posting - very interesting. Even though they are guide prices, just goes to show the difference currently between must sell and would like to sell if I got the right price (the one I make up !) Most of them look good to me, for what they are. Quote Link to comment Share on other sites More sharing options...
nigooner Posted January 13, 2012 Share Posted January 13, 2012 Their last auction was a farce, 2 of their lots sold on the night when they were offered. Nearly all of their sales that did happen were agreed after the auction.I felt like giving the auctioneer money jus to stop,it was pretty embarrassing to watch lot after lot go unsold. Every lot had a reserve that was shockingly higher than the guide I remember there was one lot where bidding reached atleast 30% over the guide, and still didnt reach the reserve. The house in altarichard road has been through numerous auctions with a reserve Of around £125-130k, but yet is listed here at a guide of £105k or something.id wager the reserve is still around £130k. There are probably problems with the legal docs for it to remain unsold, and I know it suffers from a few problems internally. Very Nice house though. I don't know how much I can say about the Gibson that runs it without getting sued or my post removed, but he worked with Wilsons auctions before he was 'asked to leave'. Quote Link to comment Share on other sites More sharing options...
HPCwhen? Posted January 13, 2012 Share Posted January 13, 2012 Thanks for posting - very interesting. Even though they are guide prices, just goes to show the difference currently between must sell and would like to sell if I got the right price (the one I make up !) Most of them look good to me, for what they are. Totally agree. Has anyone been to an auction recently and have a sense of these guide prices realistic, pitched low to grab interest or conversely even achievable? I'd be tempted to go to this Stormont Auction just out of nosiness! Quote Link to comment Share on other sites More sharing options...
HPCwhen? Posted January 13, 2012 Share Posted January 13, 2012 Their last auction was a farce I reckon that answers my previous post. Cheers. Cheers for clearing things up for me. There was me thinking that the guide price would approximate to the reserve....silly me Quote Link to comment Share on other sites More sharing options...
nigooner Posted January 13, 2012 Share Posted January 13, 2012 From experience, the only auctions in NI that have realistic pricing is Osborne King, and they publish their maximum reserve price which is incredibly useful.the BTW auction hasn't happened yet,but it looks to be of the same ilk. People from both companies were at the Gibson auction, and after speaking to them post-auction, it reinforced their beliefs that guides and reserves need to be as low as possible...and as close as possible. I know both Ok and BTw won't take property on if the y feel the vendor is asking too much for their property. Quote Link to comment Share on other sites More sharing options...
Txomin Posted January 15, 2012 Share Posted January 15, 2012 First I wan to say hello everybody,just discovered this web, a very interesting one. I've been reading a few threads and it seems there are a lot guys with good knowledge about the market and auctions... My partner always wanted to have a house by ( or close to) the sea , so we've been looking around and we found a couple of very interesting options (and seemly cheap options, our budget it's not very big either) ... They are being sold in the BTW auction, I'm a bit surprised how low their guide price is , do you guys think their guide price is that low cause there is something wrong with the property ? I'll appreciate your opinions about them 3 bedroom, MAXIMUM RESERVE - £25,000 - PortStewart http://www.propertypal.com/lot-11-3-enfield-street-portstewart/176706 3 bedroom, MAXIMUM RESERVE - £35,000 - PortStewart http://www.propertypal.com/lot-12-5-enfield-street-portstewart/176713 Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 1, 2012 Share Posted February 1, 2012 Osborne King Thursday 8 March 11 am Holiday inn Ormeau Avenue. full page ad in yesterday's irish news http://www.osborneking.com/auction.asp Closing date for entries today Could make for some nice headlines during the lull between the next UUJ (week or two) and the budget - which I fully expect to be a Ballache, coated with a little lib dem low end tax allowance sugar coating. Quote Link to comment Share on other sites More sharing options...
Whiteabbey Posted February 3, 2012 Share Posted February 3, 2012 100% of lots sold at this mornings BTW auction with results announced live on Twitter. 20 out of 22 selling for well above the maximum reserve. The extensive marketing and long lead in period from publishing the catalogue clearly worked. Quote Link to comment Share on other sites More sharing options...
paulw0t Posted February 3, 2012 Share Posted February 3, 2012 100% of lots sold at this mornings BTW auction with results announced live on Twitter. 20 out of 22 selling for well above the maximum reserve. The extensive marketing and long lead in period from publishing the catalogue clearly worked. Any link to the twitter ? Had a look haven't seen it Quote Link to comment Share on other sites More sharing options...
Whiteabbey Posted February 3, 2012 Share Posted February 3, 2012 Any link to the twitter ? Had a look haven't seen it Hi Live tweeted by @propertypal from 11am onwards. Quote Link to comment Share on other sites More sharing options...
mmca22gr Posted February 3, 2012 Share Posted February 3, 2012 100% of lots sold at this mornings BTW auction with results announced live on Twitter. 20 out of 22 selling for well above the maximum reserve. The extensive marketing and long lead in period from publishing the catalogue clearly worked. Any examples? I had a quick look at the PDF brochure and a lot of the max reserves were quite low. Quote Link to comment Share on other sites More sharing options...
Whiteabbey Posted February 3, 2012 Share Posted February 3, 2012 Any examples? I had a quick look at the PDF brochure and a lot of the max reserves were quite low. One example that jumps out Lot 1 : 4 x tenanted 1b newbuild flats. Strand Central east Belfast Max reserve £140k, sold for £205k Quote Link to comment Share on other sites More sharing options...
nigooner Posted February 3, 2012 Share Posted February 3, 2012 100% of lots sold at this mornings BTW auction with results announced live on Twitter. 20 out of 22 selling for well above the maximum reserve. The extensive marketing and long lead in period from publishing the catalogue clearly worked. I think the most important factor was that the reserves were so low. BRG Gibsons/Wilsons auctions prove that no matter how much marketing you do,and how much time you give people to view, it's pointless if the reserve prices are not competitive. Credit to the likes of BTW and OK for sticking to their principles and not taking on a property of the vendor won't be realistic on the price. Quote Link to comment Share on other sites More sharing options...
paulw0t Posted February 3, 2012 Share Posted February 3, 2012 So that's 56K per flat which would give a decent yield for an investor Maybe... but you'd expect an auction to be a bit more of a bargin especially if your buying 4 of them.... There's 2 appartments for sale in the same development for 55 & 57k respectively... You'd think you could get a little more off them Looks like someone just overpaid. Quote Link to comment Share on other sites More sharing options...
nigooner Posted February 3, 2012 Share Posted February 3, 2012 Maybe... but you'd expect an auction to be a bit more of a bargin especially if your buying 4 of them.... There's 2 appartments for sale in the same development for 55 & 57k respectively... You'd think you could get a little more off them Looks like someone just overpaid. Maybe. Each persons circumstances are different though.maybe the auction suited the buyer more,guaranteed completion within 28days,no arguments!sure beats the hassle of estate agents/vendors and all the other guff that comes with buying on the open market. Don't know what they are rented at, but would make a nice little pension pot for someone with £200k in their fund. Stick a managemt company in and sit back. Quote Link to comment Share on other sites More sharing options...
Whiteabbey Posted February 3, 2012 Share Posted February 3, 2012 Maybe. Each persons circumstances are different though.maybe the auction suited the buyer more,guaranteed completion within 28days,no arguments!sure beats the hassle of estate agents/vendors and all the other guff that comes with buying on the open market. Don't know what they are rented at, but would make a nice little pension pot for someone with £200k in their fund. Stick a managemt company in and sit back. From the catalogue the annual rent for all 4 is £20,700 so a return of 10% before fees maintenance etc Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted February 3, 2012 Share Posted February 3, 2012 From the catalogue the annual rent for all 4 is £20,700 so a return of 10% before fees maintenance etc Don't think I would want to bet the pension on housing benefit levels staying constant. great thread on the main board about BTL specifically how it only works with capital appreciation. Quote Link to comment Share on other sites More sharing options...
Whiteabbey Posted February 3, 2012 Share Posted February 3, 2012 Just worked out some quick figures : 22 lots with a total minimum reserve of £1.635m Sold for £2.154m 32% over the reserve Most impressive (for the auctioneers) was lot 12, a 3b terrace in Portstewart in need of refurbishment. Min reserve £25k. Sold for £70k = 180% over the reserve. Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted February 3, 2012 Share Posted February 3, 2012 Just worked out some quick figures : 22 lots with a total minimum reserve of £1.635m Sold for £2.154m 32% over the reserve Most impressive (for the auctioneers) was lot 12, a 3b terrace in Portstewart in need of refurbishment. Min reserve £25k. Sold for £70k = 180% over the reserve. This it's starting to sound like an advert for BTW. Remember they set reserved and can take bids off the wall up to the reserve. There's no transparency in the process. I'd be more interested in the peak prices of the lots, the price they were last available as an open sale and then compare them to the auction sold prices. Comparing the sold price to arbitrary reserves tell us nothing useful. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 6, 2012 Share Posted February 6, 2012 (edited) 24 homes sold for £3m at Belfast auction http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/24-homes-sold-for-3m-at-belfast-auction-16113933.html A residential property auction held in Belfast sold all its available lots for a total close to £3m in a matter of minutes. The auction on Friday attracted more than 500 prospective purchasers interested in the 24 properties. The lots on offer included apartments in Belfast, semi-detached homes in Newtownards and bungalows in Portstewart. Trevor Dougan of estate agent BTW Cairns said the firm was pleased with the level of interest. He said: “Each property sold for at least the reserve price. “Buyers recognise value and we are seeing more and more purchasers re-entering the property market to take advantage of the deals on offer — clearly people now recognise that property prices are at a level that represents significant value. “Auctions provide an efficient buying process for the correct type of property, with the contract being signed within minutes of the hammer dropping and completion taking place only weeks after. “We feel that the comprehensive marketing and carefully considered reserve price were key factors contributing to the success of the auction.” A property website has already quoted the auction as the most successful in the country to date. Bargain homes bagged at auction http://www.newsletter.co.uk/news/local/bargain_homes_bagged_at_auction_1_3491903 The organisers of the auction, which was first reported in the News Letter on Saturday, confirmed last night that the auction had generated almost £3 million. It comes amid a fresh batch of house price surveys which show the scale of the fall in house prices. The Nationwide quarterly seasonally adjusted index found average home prices in the Province to be £113,614 in the final quarter of last year, down 50.2 per cent from a peak of £227,970 in the third quarter of 2007. This newspaper revealed last year that another major housing survey, the Halifax, had become the first to find Ulster house prices down more than 50 per cent from peak. The sharp falls in property prices has caused misery to homeowners trapped in negative equity but has given fresh hope to first-time buyers, many of whom were shut out of the market during the boom years. Halifax are reporting even sharper house price falls than Nationwide. The overall drop in the province is 53 per cent from peak according to Halifax, who recorded average home prices of £107,418 in the final three months of 2011, down from a highest point of £227,462 in the second quarter of 2007. Edited February 6, 2012 by Shotoflight Quote Link to comment Share on other sites More sharing options...
ravedave Posted February 6, 2012 Share Posted February 6, 2012 Is there anywhere to get a listing of the properties and their sale price? Quote Link to comment Share on other sites More sharing options...
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