REA Auction in Limerick date changed to the 5th of December 2012

REA has announced a date change for the Auction in the Strand Hotel in Limerick. The REA regional auction will be held on the 5th of December. The lots will be available online on Wednesday the 14th of November. REA is holding an Auction in Dublin on the 27th of February 2012.

REA Carthy are selling land & residence at Creevy, Roscommon Town

FOR SALE BY PUBLIC AUCTION – PRIME LANDS AND RESIDENCE @ CREEVY, ROSCOMMON TOWN Seamus Carthy of REA CARTHY confirmed this week, the Highly Important Sale by way of Public Auction of a Substantial Residential Holding containing 28.5 Acres or thereabouts together with a traditional country cottage (in need of redevelopment) and a fine detached 4 bedroom family residence situated at Creevy quin and Carrowmore on the outskirts of Roscommon Town. The property is to be sold by Public Auction on Friday, 16th November at 1pm and the auction will take place at the residence. The auction will comprise of the following Lots: • LOT 1: Dwelling House at Creevyquin, Roscommon. Reserve: €120,000. • LOT 2: Cottage and Land at Creevyquin and Carrowmore, Co. Roscommon Reserve: €230,000. • LOT 3: Entire Seamus describes the property as 28.5 Acres or thereabouts of Top Quality Lands together with a traditional style cottage offering obvious potential and a quality detached 4 bedroom Bungalow situated on a landscaped site. The properties close proximity to the County Town is a further attraction and Seamus classifies this highly important sale as a rare opportunity to acquire a quality residential holding of land in this quality and convenient location in Roscommon Town. Market interest will dictate on the auction day if the property is sold in lots or in its entire. For further details contact Seamus Carthy of REA Carthy, on 094 96 25990, e mail seamus@reacarthy.ie or log onto www.reacarthy.ie. Solicitor with carriage of sale is Mr. Gerard Neilan, Patrick J.Neilan & Sons Solicitors, Golf Links Road, Roscommon.

REA Auction in Limerick to be held on the 28th of November

The next REA Auction will be held on the 28th of November in the Strand Hotel in Limerick. We will be announcing lots on the 5th of November. We will also be holding an Auction in Dublin on the 27th of February 2012

REA TE POTTERTON SELL €600 worth of property AT AUCTION

REA TE Potterton, Trim sell the following at Auction this month. Auction on 16th October: Hill House Tara Dunsany Co Meath sold at auction €190,000 Derelict res on 2 acres. Auction on 9th October: 69 acres Ballinlough Kells - Non res lands Sold at auction €406,500 Thomas Potterton is highly experienced at Auctions and is the primary REA Auctioneer for Group Auctions.

REA Carthy sells property in three counties at the REA Auction on the 17th of October

Seamus Carthy of REA Carthy, Castlerea, placed a number of properties under the hammer at the REA Regional Auction held on Wednesday last, generating sales on four of five properties. REA Carthy offered one of the best value properties at the auction, a two storey farmhouse in Co Mayo, which was the first to be sold on the day. Properties sold by REA Carthy included: • Two Storey Traditional Farmhouse with outbuildings in Co. Mayo. • Three Bedroom Duplex Apartment in Co. Galway. • Two Storey Commercial Property in Co. Roscommon. • 5 Bedroom House with 5 adjoining sites in Co. Roscommon

DUBLIN CITY REVALUATION – COMMERCIAL RATES

Proposed Valuation Certificates will be issued to all Ratepayers in the Dublin City Council Local Authority area commencing this week We are advised by the Valuation Office that Proposed Valuation Certificates will be issued on the following dates:- 23rd October 30th October 6th November 13th November These new assessments will remain in force for up to ten years so it is vital that Ratepayers do not miss the opportunity to challenge their assessments. It is very important that Ratepayers seek advice in relation to their assessment from a qualified professional. REA O’Donnell Property Consultants are recognised experts in this field and have been dealing with Rates Assessments for decades, acting for both large corporate bodies and small businesses alike. I have attached a copy of our Brochure for your information. If you or any of your clients would like more information in relation to any aspect of the Revaluation process please contact me or my colleague Terry Devlin. THIS REFERS TO THE DUBLIN CITY COUNCIL AREA ONLY AND DOES NOT AFFECT PROPERTY IN THE FINGAL, SOUTH DUBLIN OR DUN LAOGHAIRE RATHDOWN COUNTY COUNCIL AREA

REA Sell 75% of Lots today at Auction

Real Estate Alliance’s first regional auction to be held in Ireland was deemed a success today with 75% of the lots selling as a result of the auction. In summary, a total of 14 lots were sold as a result of the Auction, with further lots potentially being sold post auction in the coming days. Auction summary: - 14 Properties sold as a result of the Auction -11 properties were sold under the hammer - 2 were sold after auction - 1 property was sold prior to auction - 6 properties were withdrawn & now available. Total raised €1.35 million. The highlight of the auction, Lot 13 in Howth sold for four times its reserve price. According to Eimer O’Keeffe, CEO, “We were delighted, in light of it being the first of our regional auctions, that there was such a large attendance today and such a huge level of interest in the lots beforehand. Since the auction ended at 1.30pm, contracts have been exchanged on a number of additional properties and we would anticipate a number of further sales will be achieved over the coming days. ” According to Philip Farrell, Business Development Director of REA, “We are pleased with the result and we look forward to our next Auction on the 22nd of November in the Strand Hotel in Limerick & the one in Dublin on the 27th of February 2013. - Ends - For further information contact: www.realestatealliance.ie Philip Farrell, Real Estate Alliance 086 2503515 – philip@realestateallianceie Eimer O’Keeffe, Real Estate Alliance, 086 824 9040 – eimer@realestatealliance.ie

REA Auction tomorrow on the 17th of October at 12 noon

The REA Auction team are looking forward to the first of a series of regional auctions we hope to run around Ireland over the coming months. Tomorrow, Wednesday the 17th at 12 noon, we will commence the auctioning of 20 lots. There has been a high level of interest and we expect good attendance & positive results.

REA welcome well priced properties for their Munster Auction on the 22nd of November 2012

Real Estate Alliance announce a second date for their REA Regional Auctions. This time it will take place in Munster on the 22nd of November in the Strand Hotel in Limerick City. The Closing date for taking in Lots is the 22nd of October. Please contact info@realestatealliance.ie or 01 6699996

REA welcome the new price register

Real Estate Alliance, the National Property Group today welcome the introduction of the new Price Register in Ireland which will provide information on the prices obtained from properties in Ireland. According to Eimer O’Keeffe, CEO of Real Estate Alliance, “this has been long awaiting and will create transparency in property prices in Ireland. The facility will assist consumers to make important decisions in relation to where they live”. According to Michael Boyd, Chairman of REA, “this facility has been available across the water for some time & has become of real benefit to people working in the property industry. No doubt the same impact will arise here in Ireland in a very short period of time. The new register will provide historical prices as far back as the Jan 2010. There are no down sides to this facility and it will assist in all parties employed and involved in the property Industry in Ireland”. REA members agree that the register should also give the M2/ sq ft. and the site area of the property register too, as this would give a more accurate perspective for comparison purposes. Real Estate Alliance is Ireland’s leading property group of Chartered Surveyors with 44 Branches throughout the country. REA was founded in 2003 and it comprises some of the Ireland’s best-established auctioneers and estate agents. With one quarter of the alliance’s firms in business for more than a century, the alliance is characterised by a nationwide spread of its Agents who are all members of the Society of Chartered Surveyors Ireland.

REA Carthy announce their lots for the Auction on the 17th of October

REA Carthy is one of the leading Auctioneers, Estate Agency and Valuation Practices in the West of Ireland. REA Carthy part of the Real Estate Alliance national property group, will be holding a property Auction in the Davenport Hotel, Dublin on Wednesday17th October, commencing at 12 noon. The auction is expected to attract a broad mix of buyers including those looking for good commercial business opportunities and also those hoping to secure a residential bargain. There are some strong opportunities for first time buyers, or those looking to renovate a property. A brief description of REA Carthys, properties for auction are outlined below: • Detached Two Storey Traditional Style Farmhouse with Outbuildings, located in Cloongawnagh, Tooreen, Ballyhaunis, Co. Mayo. Reserve not to exceed €15,000. • 3 Bed Duplex Apartment, located at No. 11 Millbrook, Milltown Co. Galway. Reserve not to exceed €35,000. • 5 Bedroom Detached House with 5 adjoining Detached Sites. The residence and sites are located at the front of Tarmon Manor, Castlerea Town, Co. Roscommon. Reserve not to exceed €75,000. • Ashfield House is a Detached 3 Bedroom Bungalow on 2.563 Acres. Located on Athenry Road, Tuam Town, Co. Galway. Reserve not to exceed €75,000. • Two Storey Town Centre Commercial Property with Large Yard/Garden to the Rear. The property is conveniently located on Main Street, Castlerea, Co. Roscommon. Reserve not to exceed €50,000. REA Carthy offers the best value property in the auction, a two storey farmhouse in Ballyhaunis, Co Mayo with a reserve of just €15,000. The Regional Property Auction will be held on Wednesday, 17th October at the Davenport Hotel, Merrion Square, Dublin 2. Those bidding will need to have their finance in place with a 10% deposit being payable on the day with accepted bids being legally binding on the day. To view the Lots mentioned above log onto http://www.realestatealliance.ie/national-property-auction/browse-lots-list/ For further information please contact: REA Carthy (094) 9625990 or Seamus (086) 3085538.

Lots for Auction now online

REA announce the 20 Lots for the first of the REA Regional Auctions

REA announce first regional Auction date

The auction will take place in Dublin’s Davenport Hotel on Wednesday the 17th of October with a second auction covering the Munster region is scheduled to take place in Limerick in November. The announcement of these auctions is timely with Real Estate Alliance members having seen experiencing positive movement in the property market since the beginning of 2012. The lots are being sourced from both private individuals and institutional clients to include bank & receiver stock

Property Tax should be exempt for those who paid high stamp duty in the 2000s

The Government should follow the detailed advice of the Commission on Taxation on this occasion.The taxation report recommended establishing a valuation system involving eight broad property bands with an online database giving all local valuations; the provision of limited and full waivers for those on low incomes; a seven-year exemption for those who paid high stamp duty between 2000 and 2008 and a requirement that property tax returns should be made every three to five years, involving tax-clearance certificates. It also urged, as a priority, that a register be established with up-to-date valuations of all property and land in the State. As might be expected, successive governments ducked that one. They also appear to have forgotten the commission’s proposal for a windfall tax on land sold for housing and on land zoned for development

Mortgage applications increase four-fold

REA welcome the announcement by Trusted Advisor Group that the volume of mortgage applications has increased four-fold in the past two years, with 90% of inquiries being approved. According to them, they are coming across a lot of people who have been renting for years and who have held off purchasing a property in recent times due to market uncertainty. A lot of people don’t want to wait any longer and feel that now is the time to buy a property of their own. At REA we are seeing similar signs of the tide turning.

REA Agents sold over €15m in property sales over the last 3 months

REA agents are happy to report that sales have increased over the last few months. They have achieved over €15million in sales since March 2012. The Agents are definitely seeing improvements in the market and feel it has reached a stage where the market is improving.

Deerpark House sold

REA McDonald sold the stunning property & lands at Deerpark House, Calverstown, Kilcullen, Co. Kildare on 35 acres last week. On a joint agency basis with Goffs Country Property the above property was withdrawn at €745,000 at auction on Wednesday and sold shortly afterwards for a higher offer

REA Cumisky selling c.70 acres in Rush

C. 70 Acres for sale through REA Cumisky in Balbriggan. Land at WHITESTOWN Rush, County Dublin. It includes Farm & Yard, Stone outbuildings & hay barn and of Prime quality tillage ground. Frontage to Lusk Road Price €1,150,000.

Land prices increase

In the Indo today, it states Land prices increased nationally by 25pc in the first six months this year to an average of €10,200 per acre, but much larger price increases were seen in Munster and Connacht.Nationally, 3,900 acres changed hands with a combined value of €41m so far this year. This compares with total sales nationwide of €162.9m in 2011 when 19,870 acres were sold in 443 land transactions. The national average price per acre was €8,200 last year. REA is seeing a huge increase in demand for Land.

The Rendezvous Bar for Sale for €225,000

REA Seamus Carthy, Chartered Surveyors confirms “The Rendezvous Bar & Bistro ” the well known Public Bar And Bistro located in Balla, Co. Mayo is now For Sale guiding €225,000. Presented to a high standard and offering a “ready to go” business opportunity, a well known landmark 7 day licensed premises which was leased over the last number of years, boasts many years of successful trading and with its cosy bar and spacious dining area, the Sales Agents describe the property as an “Exceptional Public House and Restaurant in very good decorative order” situated in the heart of the picturesque village of Balla (between Castlebar Town & Claremorris Town, Co. Mayo), and benefitting over the years from both a substantial passing trade as well as its local customers base. Seamus Carthy of REA Carthy is now inviting viewings and enquiries. Contact REA Carthy on 094 96 25990 or 086 8035538 for further details.

Site for Sale with REA Sothern

Site at Woodenbridge, Co. Wicklow For Sale by Public Auction on 21st June at 3.30p.m. in Woodenbridge Hotel (on instructions of ACC).Stunning c. 3.5 acre site (former New Valley Inn Hotel, now in ruinous state). AMV €150,000 Exceptional views over one of the most attractive valleys in Ireland Close to the wonderful Woodenbridge 18 hole Golf Course. Suitable for prestige dwelling or holiday based business, i.e. adventure centre, holiday chalets etc – subject to p.p. Bounded to one side by a fast flowing stream.

REA T&J Gavigan sold over €1m in land sales at Auction last week

Auction result of lands at Stackallen, Navan. Auction on 30th May in Ardboyne Hotel, Navan. All the lands were sold at Auction, there were lots of bids for all the lots. LOT 1 – 24.275 Acres at Gorman Lough Crossroads made €215,000 LOT 2 – Lands at Stackallen with derelict residence comprising C. 49 Acres was sold at €625,000 LOT 3 – C. 7 Acres at Stackallen realised €80,000 LOT 4 – Lands at Stackallen containing 3.683 Hectares sold at €127,000 LOT 5 - Lands at Corstown, Togher, Co. Louth comprising C.13 Acres sold at €95,000

€2.5million worth of property sales in one week for REA Carthy

REA Seamus Carthy, Chartered Surveyors & Auctioneers confirmed this week to the Roscommon People a significant uplift in the level of both sales and letting transactions in both the commercial and residential property market over the last 12 months. Since May 2011, Seamus Carthys office – REA Carthy has experienced increased activity in the property market on a week by week basis. Last week alone, REA Carthy agreed the sale of over €2,250,000 worth of property including Commercial Units in Athlone & Roscommon Town, Residential Properties in Counties Roscommon, Galway and Mayo, Agricultural Land in Counties Mayo & Roscommon and also agreed the leasing of Public Houses in Co. Roscommon & Co. Mayo. Offering experience on all sectors of the property market with many notable recent sales, Seamus Carthy is now seeking further properties for Sale to include in particular Commercial Buildings, Agricultural Land, Public Houses/Guesthouses and All types of Residential property. More information: Seamus Carthy, REA Carthy 094 96 25990 or directly on his mobile 086 8035538. All enquiries will be dealt with on a sole agency basis and in the strictest of confidence

HWBC & REAL ESTATE ALLIANCE ANNOUNCE NEW AFFILIATION

HWBC have announced a formal affiliation that will provide a more extensive service to their clients. This will combine the unrivalled commercial experience of HWBC with the national & local property expertise of Real Estate Alliance. This arrangement will allow both firms to provide a truly nationwide service in all aspects of the property sector including commercial, residential and Land. As well as traditional disciplines such as Management, Agency and Valuation, the new affiliation can provide a fully resourced Asset Management service and if needed more focused Consultancy advice on aspects such as Investment and Corporate Real Estate Finance

TWO FARMS SOLD FOR €1,000,000 by REA Coonan

REA Coonan Maynooth and Celbridge have recently completed the sale of 2 farms, 1 in Co. Meath and the other in Co. Westmeath. A non-residential 52 acre farm at Mayne, Clonee was offered for sale by auction and sold under the hammer for €600,000 i.e. €11,500 per acre. It was an extremely active auction with 5 bidders, 3 of which were locals competing against each other after an opening bid of €480,000. The property was put on the market at €600,000 and then sold under the hammer. The lands were of excellent quality and had generated considerable interest prior to the auction date. Willie Coonan commented that it was a sign that land prices were hardening and he anticipated that prices would continue to increase during the course of this year. REA Coonans also sold jointly with REA TE Potterton, Trim, 90 acres at Castletown Finea, Mullingar, Co. Westmeath at auction for €402,000. With a packed auction room the bulk of interest was in the entire property with opening bids at €220,000. Four bidders battled it out up to €385,000 and at this stage the vendors instructed to put the property on the market. Two bidders continued until the property was sold. The buyer was a farmer from the Cavan area. The lands were partly in forestry with the remainder in grass. The property also had the benefit of some gravel deposits and planning permission for a substantial detached property

Kerb Appeal

KERB APPEAL

Whether the market goes up, down, or remains static that is outside any one persons control. Therefore a vendor looking to maximise his price must look at what can be done internally and externally to make his property more appealing.

A Canadian couple I once acted for were our clipping, sweeping and washing windows at the front of their house when I came to take photos. On asking the reason for such industry he replied “Harry this house must have kerb appeal,” advice I have often passed on to vendors over the years. A good first impression is most important.
Internally all the usual apply – toys cleared away, clean and neat presentation, beds made, animals tied up or in kennels.

The other area I want to highlight (which only applies to estate dwellers) is the condition of the estate itself.

To get an estate looking well it requires collective responsibility, which also involves a small investment. It astonishes me to hear that so many residents associations have difficulty in obtaining payments of just €100 or €150 from households considering the value that such a contribution makes to their property. It is easy to adopt a “me fein” attitude – I am not selling so why should I bother but at some stage that attitude is likely to bite back.

A purchaser viewing property first visits the estate and if there isn’t a “kerb appeal” to the estate itself then often they may not wish to pay an internal visit to the house chosen. A poorly kept estate with graffiti, broken trees, un-mowed greens gives a really bad impression and irregardless of how any one individual might keep their house its value is greatly undermined by the estate itself. You are not talking small money here it could be €10/20,000.

A well-kept estate sends out a very positive message – we care, the kids are well behaved, your neighbours are likely to be decent, there won’t be vandalism. Whilst some of those may not be borne out non-the less those are the qualities that most purchasers want to find.
There are many examples of well kept estates in Carlow, probably the most eye catching being Heatherfield Court. It is no surprise therefore that houses sell quickly in this area.


Harry Sothern, F.I.A.B.C.I.
Director REA.

REAL ESTATE ALLIANCE Announce New Chairman for 2011/2012

Real Estate Alliance, welcome their new Chairman, Mr Michael Boyd of Boyds REA, Kilkenny, coupled with a wealth of property experience, Michael has a special interest in protected structures and period buildings and the planning and legal environment within which they are owned, operated and developed. He is a long term member of the Irish Georgian Society, An Taisce, and the Kilkenny Archaeological Society

Newbridge Farm sold at auction for €2.37 million

Brophy Farrell, Newbridge, Co Kildare sold a c.197 acre farm was sold today at auction for €2.37 million. Well done Brian.

CHAIRMAN OF REA RE-APPOINTED TO THE BOARD OF THE VALUATION TRIBUNAL

Real Estate Alliance welcomes the recent Government Re-Appointment of Patrick Riney to the Board of the Valuation Tribunal, which he has been a Member of since 1994. He is the Chairman of Real Estate Alliance, a Director of Orchard REA, Dublin, and Vice-President of the Irish Chapter of FIABCI, the International Real Estate Federation.
Pat’s experience of the Irish and International Property Business spans over 30 Yrs. and as a respected Chartered Surveyor, he has extensive experience in Commercial, Industrial, Residential, and also has considerable experience in the Social Housing Sectors.
Pat deals with Valuations, Sales, Lettings, Property Management and all other aspects of the Property Market.

Philip Farrell announced

Real Estate Alliance is delighted to announce the recruitment of Philip Farrell to the position of Business Development for the Group. Philip, a recognised expert in the field of property will be responsible for the continuing development of the REA Group across Ireland and abroad.

Boom property details at last laid bare

Vast scale of operations of a State agency vital to Ireland’s recovery is disclosed in a timely and transparent way, writes SIMON CARSWELL, Finance Correspondent in the Irish Times.
FROM ZERO to a working State agency with €72.3 billion in loans and a staff of 150 people in just 20 months is quite some feat.Add to this the fact the National Asset Management Agency is one of the most controversial political creations and one of the most unpopular, and you get an idea of the work completed.
It was timely therefore that Nama should disclose more information than ever before when it published its first annual report, covering 2010, at the Treasury Building in Dublin yesterday

Great value properties on www.realestatealliance.ie

Check out the lower end of the market on the website as there are alot of properties under 200,000 for sale throughout Ireland

House prices continue to decline

House prices continued to decline in the second quarter of the year, two new surveys showed today.Property site MyHome.ie said property prices fell 4 per cent over the three months, bringing the total fall since the peak to 40 per cent.

Boots To Open First Store in County Roscommon

Seamus Carthy of Carthy REA has confirmed Boots, the international Pharmacy Led, Health & Beauty Retailers have taken occupation of a 4,100 Sq.Ft Retail Unit situated on Main Street, Roscommon Town. Boots have taken occupation of a unit that was provided to a shell specification by Mr. Carthy clients and a Full Fit out of the shop which will take approx. 8 weeks and will provide a state of the art pharmacy led, health and beauty shop is underway. Seamus Carthy of Carthy REA acted for the Landlord and Karl Stewart of DTZ acted for the Tenant

It's a Buyer's Market

According to REA market activity will remain sluggish throughout 2011 into 2012. “Until such time as the macro economic situation improves, employment increases and banks start to lend again it will remain a buyers market. Sales, if and when they occur, will be achieved by the vendors that offer buyers the best value for their money. Cash is king.” Concluded Mr. Riney

Prices down by 50%

A new survey by REA, agrees that prices “achieved” for private treaty sales are down by an average of 50% from early 2007. The group surveyed their 35 nationwide offices on actual sales in the first quarter of the year, looking to compare prices with the market peak. According to CEO of Real Estate Alliance, Eimer O’Keeffe, “to truly ascertain the level of the marketplace it is important to look at actual sales at private treaty, rather than examining asking prices in various reports.

Increase in interest from Investors

Estate agents in Ireland have reported an increased number of people viewing properties since the auction and an improvement in consumer sentiment, but they’re conscious that any improvement in activity levels is dependent on the availability of finance.
‘‘It’s been fairly uplifting following on from the auction, it’s been the talk of the town since. It’s very positive for the market," said Lisney director John O’Sullivan

Changing repayments on mortgage to bi-monthly

Irish consumers are conditioned to pay their mortgage on a monthly basis but this can cost a lot of money. If, instead of paying monthly, you pay your mortgage every two weeks then you could easily dramatically cut its cost over the full term.
If someone has a €300,000 mortgage taken out over a 30-year term and they make a monthly repayment, it will cost €1,610.46 every month, based on an average interest rate today.If they pay twice a month, it will cost them €805.23 each time. So they are paying exactly the same amount every month.
But when a person pays monthly, the total interest on that loan over the full 30 years is €279,767.35 or €777.13 a month. If, however, that person pays off the mortgage twice a month then the total interest falls to €226,466.56 or an interest payment every bi-weekly period of €289.60.

Unfair on First Time Buyers

MORTGAGE experts have criticised as "unfair" the decision to abolish mortgage interest relief for first-time buyers.Those new home buyers will lose more than €30,000 if they do not purchase a property before June when mortgage interest relief is to be stopped. Currently mortgage interest relief is available to first-time buyers for up to seven years after they buy their property. The changes to the relief — also known as Tax Relief at Source (TRS) — are outlined in the Programme of Government. The new measures include an increase in TRS for people who bought properties between 2004 and 2008.

REA national property auction.

REA intend on running National Property Auction at the end of May 2011. Further details to be released soon.

Low percentage borrowing in South East

Sothern REA in Carlow has reported a number of sales in recent weeks. They sold 4 rent to buys away in the last 2 weeks and 3 small property sales with properties under 150k. According to Harry Sothern, "there seems to be a trend towards low % borrowing as purchasers are afraid of job security and they don't want to leave themselves exposed.

Properties under 150k selling for REA agents

Seamus Carthy of Carthy REA in Roscommon is reporting a number of sales so far in 2011. A Traditional 3 Bed cottage in Mount Druid, Ballinagare sold for €110,000. A 3 Bed Semi Detached in Ballinagare Village, Co. Roscommon sold for €85,000. A 3 bed Semi Detached (unfinished) in the Tarmon Manor Residential Development in Castlerea sale agreed at €100,000. A Traditional Cottage with 22 Acres in Ballinlough, Co. Roscommon sale agreed at €170,000.

The Property Market near the bottom

THE IRISH commercial property market is finally showing signs of bottoming out after three disastrous years.Overall returns for 2010 published yesterday by Jones Lang LaSalle in its long-running Irish Property Index recorded a fall of 1.6 per cent – a vast improvement on the drop of 19.2 per cent recorded in 2009.

REA welcome stamp duty reform

The Group believe it will help the residential sector recover somewhat in volume and give the property sector a much needed boost. Although stamp duty reduction makes movement easier the Group are unsure if it applies to commercial property which is key for business flow . According to Board Member Michael Gavigan, “the u turn on s 23 expiring in 2014 has not factored in that most investors are heavily in debt on their investments which were made in good faith at inflated values to factor in the tax benefit . The government promoted these schemes which created much employment & revenue for the country and now announce that they expire in 2014 which will greatly reduce their value and lead to a far higher rate of default which the taxpayer will ultimately have to foot the bill. This u turn is ill considered and does not factor in peoples risk taking and debt”

National Property Policy

"In view of the severe downturn in the property market, it would be grossly unfair to expect property owners to sustain such proposed increases in Taxes and Reductions in Tax Allowances as indicated in the Four Year National Recovery Plan. It is important for the Government to realise that Property can contribute to the Recovery. It would be our suggestion that a National Property Policy be prepared by Business owners, Landlords & Tenants, Property Professionals as well as the Legal community”, according to Patrick J. Riney.

REA welcome new Chairman at AGM

REA held their AGM in Buswells Hotel in Dublin, on Friday, 26th November 2010. The appointment of Patrick J. Riney, Director of Orchard Real Estate Alliance in Rathfarnham as Chairperson of the national property group and Seamus Carthy of Carthy Real Estate Alliance, Roscommon as Vice-Chairperson were ratified by the grou

Real Estate Alliance offer a National Property Service to their clients. Read more on our SERVICES page. http://www.realestatealliance.ie/our-services/national-property-services/

Eoin Dillon reports some recent sales

Eoin Dillon REA in Nenagh has reported a number of sales in the last few weeks. Afew were bought by first time buyers. One was a 2 bed end of terrace for €110,000 and the other was a 3 bed mid terrace for €107,500 which was only on the market 3 weeks.
Also a 5 bed new detached dormer was sold for €285,000 and a 4 bed bungalow for €165,000. A 3 bed detached holiday home was sold on the lake for €150,000

Paul Grimes auction success raised €20,500 for Charity

Paul Grimes, Director of Grimes REA in Ashbourne & Skerries and Board member of REA conducted a Charity Auction on behalf of The Paul Stafford Foundation in the Mansion House on Friday the 5th of November. He raised €20,500 alone in the Auction and all proceeds will be given to 1Life, a suicide prevention 24 hour helpline
The Paul Stafford Foundation was established in 2007 to raise awareness and address the serious issue of suicide in Ireland. It was founded by a group of people who were directly affected themselves by suicide and had lost someone they loved to this ever increasing problem. www.paulstaffordfoundation.com
1life is a dedicated 24 hour freephone national suicide prevention helpline 1800 247 100 www.1life.ie

Good time to Buy

AN economist who was the only person in the property industry to label the housing market a bubble said yesterday that now is the right time for new buyers to enter the market.Derek Brawn, whose book on the property market predicted the bursting of the bubble, said first-time buyers should buy now once they find a property at the right price.The optimal time to buy a house was not at the bottom of the market but just before the market hit the bottom, Mr Brawn said. A year before the bottom of the housing market is the ideal time to buy, he said.