Category Archives: Property

State lost €31m by overpaying in five property deals

More than €31 million of taxpayers’ money was overpaid by the Office of Public Works (OPW) in five property deals over a four-year period, an internal report has found.

Completed last year by two surveyors working for the OPW, the report has since been sent by OPW management to the Comptroller and Auditor General and has recently been sent to the Oireachtas Public Accounts Committee (PAC).

The unpublished report, seen by The Irish Times, concluded the Civil Service culture in the OPW was resulting in “poor value for money outcomes”. It claimed there was “considerable potential for corruption to arise in property transactions” conducted by the OPW, because waste of funds “is tolerated within the system”.

The five transactions examined by the surveyors, one of whom has...

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Residential Property prices rise by 10.4% in July – CSO

Residential property prices posted their slowest annual growth rate in over a year in July, rising 10.4% compared with a three-year high of 13.3% in April. The latest figures from the Central Statistics Office also showed that residental property prices outside of Dublin continued to increase at a faster pace than in the city. Prices for a home outside of Dublin rose by 13.7% higher in the year to July, while they increased by 7.2% in Dublin. Today's figures show that house prices in the Rest of Ireland increased 13.1% in the year to July, while apartment prices jumped by 18.7%. The Mid-West region showed the greatest price growth, with house prices increasing 23.7%. The Border region showed the least price growth, with house prices there up 6%. Meanwhile Dublin house prices increased by 6.5%...
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Supply of rental property ‘at lowest in a decade’

According to the latest quarterly Rental Report by Daft.ie, there were fewer properties available to rent nationwide at the beginning of May than at any point since 2006, with just 4,300 properties compared to 7,200 a year previously. Overall, rental prices nationwide continued to ease slightly in the first three months of 2015 with the national average rent between January and March just over €960. That is 8.2% higher than at the same point last year, but down from the 10.4% increase in mid-2014. Year-on-year rents in Dublin continued to show the biggest increase up 8.3% - with the average monthly rent now just over €1,350. In other cities, rents continued to rise but at a slightly slower pace. In Cork, rents were 7.5% higher, similar to the increase seen in Galway of 7.4%. In...
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Seller Beware: Houses for sale become targets

In today's market, when your house goes on sale, you become vulnerable to the entire world. That “For Sale” sign on your front lawn and your listing on real estate websites let everyone know that your home is for sale. While this attracts potential buyers, you could also make your home a target for people with bad intentions. From realtors who steal undergarments from the drawers of their clients to teens who throw parties in mansions they found on real estate websites, there is no limit to what could happen in your home when you sell it. “You've got to be vigilant when your house is for sale. You can't just sit back and assume that all's going to be OK,” real estate expert Brendon DeSimone told...
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House sales boom and prices rise as buyers move in

SEVEN years ago, Rob Taylor's three-bedroom West Bridgford home was worth £170,000. Following a large kitchen extension, its value shot up to between £210,000 and £220,000. And now that the property's valuation has climbed even higher, much to the surprise of Rob and his wife Sarah. He said: "We are looking to move to somewhere which is larger and we have now had the house valued at around £245,000. I was shocked. But this is a fantastic area for people to live in." Read the full story via House sales boom and prices rise as buyers move in | Nottingham Post....
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Filthy house sold for full asking price

A filthy Birmingham property has been sold for its asking price – despite shocking sales pictures of wall-to-wall squalor. Advertising shots of the property in Short Heath Road, Erdington showed unmade beds, washing up left in the sink, filth on kitchen worktops and a rubbish-strewn living room. The property has been snapped up for almost £115,000. Despite the less than flattering photos, one buyer forked out £114,950 to land the property, estate agents Burchell Edwards have revealed. That same figure could buy a three-bed house in trendy Kings Heath, a well-presented three-bed property in Small Heath or a spacious family home in Yardley. Full story via Filthy Birmingham house sold for full asking price | Central - ITV News....
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Questions to ask before buying a home

What is this property worth in today's market?

For ethical reasons, agents can't tell you how much to offer, says C.D. "Chip" Boring, broker/owner of Re/Max Realty Plus in Sebring, Fla. Instead of asking directly how much the home is worth, you ask indirectly, by seeking information about comparable sales, or "comps."
An agent should arm you with plenty of comparables -- prices of similar, nearby homes that have been sold recently -- along with high and low ranges for a particular property, Boring says. Your agent can tell you how long homes are staying on the market, and the percentage of the asking price sellers are getting, says Dick Gaylord, past president of the National Association of Realtors and broker with Re/Max Real Estate...
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NPPR Deadline Reminder

Non-Principal Private Residence Charge NPPR Deadline Reminder | Cooney Carey | Blog

Non-Principal Private Residence Charge NPPR Deadline ReminderPosted by Eamonn MaddenThere has been much media commentary on the recently introduced Local Property Tax LPT. However it is important to note that the Non-Principal Private Residence Charge NPPR will also be payable in 2013 in respect of certain properties.The NPPR was introduced in 2009 and is payable in respect of residential properties owned by an individual which is not their principal private residence.If an individual/ company owns a property on the 31st of March 2013 they are liable to pay the NPPR fee to the appropriate local authority by the 30th of June. The NPPR charge is €200 and a late fee of €20 is...
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What is a Solicitor?

so·lic·i·tor/səˈlisitər/

Noun:
  1. A person who tries to obtain business orders, advertising, etc.; a canvasser.
  2. The chief law officer of a city, town, or government department.
Sean O'Brien - O'Brien Ronayne Solicitors TallaghtSean O'Brien is the founder and partnet of a team of solicitors in Tallaght; but what exactly is a solicitor, what do they do and how can they help you? Despite most Irish towns having at least one firm of solicitors, many people are unclear as to why we're here and what we can offer. You'll also hear us referred to as lawyers and there are two types of lawyer: solicitors and barristers. A barrister is a legal professional who represents you in court....
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Mortgage Time Bomb

AIB Mortgage Tine BombReports in the newspapers today suggest that the AIB faces a mortgage time bomb by virtue of the fact that staff facing redundancy owe the bank a total of €2 billion in mortgage debt. Over the last few days, the Taoiseach has admitted that the government has failed to deal  with the question of distressed mortgages, perhaps now  the situation in AIB will force its hand. Over the last number of years in this office we have come across a number of decent individuals who have made sensible suggestions to the banks regarding their arrears and the sale of property in negative equity, in the vast majority of these...
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