pajd Posted January 19, 2011 Report Share Posted January 19, 2011 I remember some time ago discussing the fact that house prices on EA sites in Ballymena were well OTT. I have been noticing that this EA has had to adjust his prices downward a bit. http://www.propertynews.com/agent.php?a=52&typ=Detached+Bungalow&page0=1'>http://www.propertynews.com/agent.php?a=52&typ=Detached+Bungalow&page0=1 http://www.propertynews.com/agent.php?a=52&typ=Detached If only the vendors had priced realistically at the time then they could have been getting on with their lives. Give it a few months and most EA will be doing this....even the stubborn ones! Quote Link to post Share on other sites
2buyornot2buy Posted January 19, 2011 Report Share Posted January 19, 2011 Most of those properties seem to be in outlying villages. Still massively overpriced in my opinion. Still a large amount of new builds in the Ballymena area not selling. Ballymena wouldn’t be known for it high wages apart from a few employers. I think some very large drops here are coming. The number of apartments that got thrown up in the past 10 years is also shocking. I'd expect anyone that bought these will be numbered with them for quite sometime to come. Still what drops have happened is encouraging. More as a measure of sentiment than anything else. Nothing is selling though. Quote Link to post Share on other sites
Ricky_FTB Posted January 19, 2011 Report Share Posted January 19, 2011 I remember some time ago discussing the fact that house prices on EA sites in Ballymena were well OTT. I have been noticing that this EA has had to adjust his prices downward a bit. http://www.propertynews.com/agent.php?a=52&typ=Detached+Bungalow&page0=1'>http://www.propertynews.com/agent.php?a=52&typ=Detached+Bungalow&page0=1 http://www.propertynews.com/agent.php?a=52&typ=Detached If only the vendors had priced realistically at the time then they could have been getting on with their lives. I've had some contact with this agent in the last wee while and the staff i've dealt with actually come across as relatively bearish. They admitted to me that some of their own listings were far overpriced and that they have been spending time battling with vendors to reduce their asking prices. I've had the usual rants with them about overpriced houses, state of the country, unemployment etc, the like of which i usually hear discussed on here, and to be honest they didn't seem to disagree with me! I've said for a good while that Ballymena seems to be even more overpriced than the rest of the country. Depressing Quote Link to post Share on other sites
vicmac Posted January 19, 2011 Report Share Posted January 19, 2011 Ballymena is getting it better than most towns in NI, high civil servant demographics (county hall etc) then high salaries at Gallaghers, Michelin etc. Perhaps this is the reason for high prices? I've had some contact with this agent in the last wee while and the staff i've dealt with actually come across as relatively bearish. They admitted to me that some of their own listings were far overpriced and that they have been spending time battling with vendors to reduce their asking prices. I've had the usual rants with them about overpriced houses, state of the country, unemployment etc, the like of which i usually hear discussed on here, and to be honest they didn't seem to disagree with me! I've said for a good while that Ballymena seems to be even more overpriced than the rest of the country. Depressing Quote Link to post Share on other sites
DotBomb Posted January 20, 2011 Report Share Posted January 20, 2011 I've had some contact with this agent in the last wee while and the staff i've dealt with actually come across as relatively bearish. They admitted to me that some of their own listings were far overpriced and that they have been spending time battling with vendors to reduce their asking prices. I've had the usual rants with them about overpriced houses, state of the country, unemployment etc, the like of which i usually hear discussed on here, and to be honest they didn't seem to disagree with me! I've said for a good while that Ballymena seems to be even more overpriced than the rest of the country. Depressing Im from Ballymena, and i think the people here are pretty dillusional and a bit greedy. The housing market will just stagnate till the EAs finally say enough, and tell unrealistic sellers to bogoff. Quote Link to post Share on other sites
redprince Posted January 21, 2011 Report Share Posted January 21, 2011 Im from Ballymena, and i think the people here are pretty dillusional and a bit greedy. The housing market will just stagnate till the EAs finally say enough, and tell unrealistic sellers to bogoff. Guys - been renting in B`mena since 09/09 and this year my wife and i want to buy.I agree that asking prices in B`mena are ridiculous but i am shortly going to look at a property that may be for sale - but it is an "off market" transaction in that current owner doesn`t want a for sale sign and people tramping through the house etc.Basically it is a sale born of necessity (relationship break up and finding it a bit too expensive on one salary) so i think as i am hoping to buy it clean for cash and have nothing to sell ie no chain it may swing it. Facts are that a little local knowledge on the ground helps immensely as from looking at hp`s in Ballymena on property news.com i would be wasting my time even starting. Anyway i will let you know how i get on - wont be teeing up the visit for some weeks yet - wouldn`t want to look too keen now would we? Quote Link to post Share on other sites
redprince Posted January 21, 2011 Report Share Posted January 21, 2011 One caveat redprince - make sure both parties to the relationship are keen to sell and at an agreed price. I know of one house locally with a bitter split and the female is insisting that an unrealistic price is the only one she will accept since she wants to be able to buy another house with half the proceeds for herself and new boyfriend. Good point doccyboy.Perhaps i should have explained myself better; i know both parties and one has apparently got legal title having split a while back - obviously i will establish all this prior to negotiations commencing.In any case if the price is at all unrealistic i wont be negotiating at all. They are only going one way from here and its not up! Quote Link to post Share on other sites
headmelter Posted January 21, 2011 Report Share Posted January 21, 2011 Just looked at those properties and recognise 1 of them as belonging to an old colleague who at the time (2007) put it on the market at an unrealistic price even for then. Smugly swore it wouldn't be sold for any less than the asking price because that's what it's worth. Well, we discussed the housing market 'fundamentals' , me being very diplomatic, as I had learned my lesson from previous discussions with other individuals, and we agreed to disagree. I see the house in question has been reduced by £75,000+ as it's only 'offers around' and not 'offers over'. I think it's still overpriced by 15-20%. I never kept in touch with this person and feel slightly deprived that I can't enjoy a bit of personal face to face schadenfreud at the smug barstewards expense. Quote Link to post Share on other sites
PJ1977 Posted January 22, 2011 Report Share Posted January 22, 2011 Quite a few new build developments round Ballymena were financed through the illegally operating property bank known as the PMS. I might do a longer post on the PMS sometime as I think among all the understandable concern about small savers some of the more outrageous aspects of the whole affair have received little attention. Quote Link to post Share on other sites
Reraise Posted January 22, 2011 Report Share Posted January 22, 2011 Please do PJ Quote Link to post Share on other sites
2buyornot2buy Posted January 22, 2011 Report Share Posted January 22, 2011 Yeah i agree please do. Quote Link to post Share on other sites
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