GET QUALIFIED HELP…..

As we move into the shorter daylight hours of the winter months, the window for showing property shrinks considerably. The same is true when I am asked to do a property valuation and this side of the business is very busy at this time of the year. People get property valuations for many different reasons. Sometimes a valuation is undertaken to assist in the administration of the estate of someone who had died. Valuations are also undertaken when people voluntarily transfer property between themselves. For example, parents might transfer a site to one of their children or may decide to pass on the family business or farm. Valuations are undertaken when someone applies for a mortgage with a Bank and also when someone is applying for assistance under the terms of the Nursing Home Fair Deal Scheme. There are many other reasons why individuals and corporate entities get valuations done.

If you are getting a valuation done make sure that your Valuer is qualified and registered under the auspices of the Royal Institute of Chartered Surveyors and/or the Society of Chartered Surveyors Ireland. You must disclose the precise purpose of the valuation. This will determine the cost and the valuer’s approach.

Except in very rare and mentioned circumstances the valuer must physically inspect the property and the client should not at any time exert undue influence on the Valuer to deliver a particular figure. Finally, the valuer should not do the valuation if they have a conflict of interest.

If you would like to discuss any valuation requirements you may have please contact me. Remember we all have an idea of the value of our property but it is always better to get an arm’s length view from someone who is qualified and can stand over the figure they present.

He/She who hesitates is lost….

July and August have been very encouraging months in terms of property enquiries and viewings. Conversion to sales are a little slower because buyers still have to get their heads round the fact that they need to have their finances in order.

Increasingly, potential buyers are revealing at a very early stage that they are “cash buyers” and this is quickly becoming the norm at the lower end of the price continuum.

For the cash buyer there is excellent value in the market. We have just listed No.5 Strand View, Rossnowlagh. This is a detached four bedroomed dormer bungalow about 0.5 km from the beach at €112,500.00. It will be on the market for between 21 and 30 days – that’s our target anyway!

“Woodlands Cottage” in Ballyshannon is a very attractive home just on the south side of the town, a stone’s throw from the scenic Erne estuary. This 3 bedroomed home is on the market at €137,500.00.

Finally, we have a lovely cottage on an acre at Edenville, Kinlough, four bedrooms, a quirky layout but exceptional value at under €112,500.00.

In some cases, I really cannot understand how these bargains are not snapped up more quickly, but I know that when they are sold we always get a call saying “I never knew it was for sale!”

As the top retailers say, “Don’t delay, when it’s gone, it’s gone!”

Carpe diem!

A Great Idea!

There was a very interesting article in the Financial Times recently with the headline “Resist the urge to invest in holiday homes abroad”. Needless to say, it attracted my immediate attention. It addressed the issue of rent guarantees and pitched that against the deductions that would be made from the rent such as management fees, letting agents’ fees, local taxes and insurance. It also addressed the matter of buyers being allowed to use the property for so many days a year but cautioned that the small print usually specified how and when these days are to be taken. In short, the author concluded that the deal neither offered a personal holiday home or an efficient investment.

When I consider the sale of holiday homes in this area and look at the less than seasonal weather this summer, I am encouraged by the high level of usage by owners of second homes in the area. The beauty about the area is that prices are still relatively modest so there is a good opportunity for growth in value, particularly when interest rates are so low. In addition this reduces the pressure on owners to get a rental return so there are no tax liabilities in relation to rental income. Because about 75% of owners live within a two hour drive of the area they can make snap decisions about when they wish to use the home without being at the mercy of airports, flights and transfers.

Having a second home in this area makes a lot of sense, excellent amenities, great sights to see, the ocean, rivers, lakes and hills, the vibrancy of the resorts, the food, the music and, of course, the people.

Start planning for next year. Contact us with your requirements.