REA move into new phase with employment of full-time CEO

REA is moving into a new phase of growth with the employment of a full-time CEO. REA has been in operation for 10 years and has nearly 50 offices working under its banner across the country. Chairman of the REA, Harry Sothern said: “REA is stronger than ever before after our first 10 years in business that has seen a boom, bust and slow recovery in the property market. “We are now seeking a full-time CEO to lead the group into our second decade and help to oversee the expansion of the business.” Mr Sothern said that the employment of a full-time CEO “is a statement of intent” by the group. Over the last number of years, the role of CEO has been a part-time post and Mr Sothern said: “It is only right that the REA has a full-time CEO to lead the group into its second 10 years and new figures confirming a 25% increase in planning permissions in the first quarter of this year offer further confirmation of a recovery in the market. He continued, “We want to be in a position to fully capitalise on the recovery and our new CEO will be central to that by formulating medium and long term growth strategies for the group.” Mr Sothern said that the new CEO will be able to tap into the vast knowledge of REA members in driving the business forward. He said: “All Real Estate Alliance members are members of The Society of Chartered Surveyors Ireland (SCSI) and, with one quarter of our firms in business for more than a century, we offer thousands of years experience in property in Ireland." Mr Sothern pointed out “that already, REA is now recognised as major players in the property market evidenced by the winning of business for the group from various institutions, companies and banks, particularly in the last few years. REA recently re-branded is also a sign of their belief in the future despite the current challenging times.” The past two years have seen the group grow from strength to strength with 12 new offices opening since December 2011 giving 46 REA member offices nationwide. REA expect to reach 50 branches by the end of the summer. The group’s emphasis has never been on having the greatest number of branches around the country and the focus has been on quality rather than quantity. Mr Sothern said that the new CEO will be a person looking for an autonomous role and should have a business development background and a detailed knowledge of the property & financial market in Ireland. The role involves responsibility for developing new business & managing existing relationships with the group's clients; ensuring the Group’s ethos is maintained & that its membership receive an excellent service and ensuring the members of REA are compliant & provide a professional centralised service to the group's clients. Candidates should have should have substantial Property/Banking experience with appropriate qualifications and established knowledge of and relationships with leading banks & receivers, especially in Ireland and the UK.

The Comfy Cafe secures worldwide interest.

Seamus Carthy of REA Carthy received an overwhelming response on the sale of “The Comfy Café” Business situated at Main Street, Roscommon Town. Seamus Carthy confirmed this week that his office received enquiries from all over the world including America, Australia, France and England alongside many local enquiries. Consequently the sale of the subject business was successfully agreed last Friday, 31st May. The new purchasers have confirmed it is their intention to be fully up and running in the course of the next month but in essence they will not be changing in any great detail the day to day running of this extremely successful coffee shop with all existing staff remaining in place. As such, it will be very much business as usual.

Edmond Spratt & Son of Dungarvan join REA

Real Estate Alliance, Ireland’s fastest growing network of dedicated property professionals, has added Edmond Spratt & Son Ltd of Dungarvan to its impressive nationwide roster. There are double celebrations this month as REA Spratt are celebrating their 75th anniversary practicing in County Waterford & East Cork while REA is celebrating their 10th Anniversary. As a member of Real Estate Alliance, REA Spratt, look forward to continuing to serve their loyal client base, now, with the added benefit of a strong network of established offices both across Munster and Nationally. Eamonn Spratt of REA Spratt believes that this move will bring real benefits to sellers and buyers in the Co. Waterford & East Cork. Commenting on the move Eamonn said; “our membership of Real Estate Alliance will enable us to share market knowledge with the leading property firms in the country, seize new opportunities for our clients, speed up the sales process and now having better access to Corporate decision makers.” He continued, “our customers will continue to benefit from our local expertise and knowledge, combined with the extra exposure and experience that this nationwide property group brings.” Eimer O’Keeffe, Chief Executive of Real Estate Alliance, added; “we are delighted to have REA Spratt on board and they represent the type of firm which Real Estate Alliance is proud to be associated with – experienced, professional and qualified. Our continued emphasis on quality before quantity is a critical success factor for Real Estate Alliance, as our 46 firms are members of the Society of Chartered Surveyors Ireland (SCSI). Our aim is always to provide the best service through the most experienced, qualified and professionally recognised estate agents and auctioneers throughout the country,” said Ms O’Keeffe. Spratt’s office at No.9 O Connell Street, is now located in the building where the practice was founded by Eddie & Ita Spratt in 1938. Their son, Donal, entered the family business in 1959 and was highly regarded within the profession and know to one and all throughout the Country. Eamonn, being the third generation joined the practice in 1989. Currently the Firm provides all the services required by a busy rural practice. Eamonn feels that the progressive and aggressive approach which REA are currently showing in the market place, is a vindication of their belief in the positive future which is ahead of us, both in terms of our economy and the property sector. This can be seen with their National advertising presence in recent times. The firm will be strengthened further as a result of joining Real Estate Alliance. Eamonn believes that “we will now be in a position to offer an even better service, thanks to the training and marketing expertise membership of the alliance brings.” ENDS

Final offers required by this Friday, 31st May on the well known thriving coffee shop - “The Comfy Cafe”, Roscommon Town

Seamus Carthy of REA Carthy now invites final offers on this once in a life time opportunity to acquire an established and renowned business situated in the heart of Roscommon Town. “The Comfy Cafe” is an exceptional opportunity offering a “ready to go” business with many years of successful trading. The business is running for just under 9 years and opens its doors 6 days a week. “The Comfy Café” is being sold as a going concern with the benefit of a long leasehold interest. Certified accounts acknowledging substantial turnover figures will be available to genuine interested parties only. All unconditional offers are invited on or before Friday, 31st May and further details are available by contacting our office on (094) 9625990 or Seamus (086) 8035538.

The deadline for filing your LPT Return on-line is 28 May 2013

If you own a residential property and have not yet received your LPT Return, you are still liable for the tax and you must file your Return. You can call the LPT helpline on 1890 200 255 (or 01 702 3049) or you can file your LPT Return on-line as follows:

REA Celebrate their 10 year Anniversary.

REAL ESTATE ALLIANCE RECAP ON A SUCCESSFUL DECADE AS IT CELEBRATES ITS TEN YEAR ANNIVERSARY The group are now recognised as major players in the property market evidenced by the winning of business for the group from various institutions, companies and banks, particularly in the last few years. REA recently re-branded is also a sign of their belief in the future despite the current challenging times. The past two years have seen the group grow from strength to strength with 12 new offices opening since December 2011 giving 46 REA member offices nationwide. REA expect to reach 50 branches by the end of the summer. According to Eimer O’Keeffe, CEO of REA, “our emphasis is not on having the greatest number of branches around the country – its quality and not quantity”. All Real Estate Alliance members are members of The Society of Chartered Surveyors Ireland (SCSI) and, with one quarter of our firms in business for more than a century, we offer thousands of years experience in property in Ireland.

Rent prices on the rise

Rents, which are rising faster than purchase prices, are continuing to make sectors of the residential property market attractive to investors. However, the latest Daft report on rental trends suggests that investors need to be choosy, not alone about where they buy but what they buy. For instance in Dublin North county a five-bedroom house may offer a return of only 3.2pc, whereas a two-bedroom property in the same area could offer more than double that or 7.5pc. Furthermore with demand for rental accommodation continuing to exceed supply, the report suggests that rents may also continue to rise and this in turn may also put upward pressure on prices at least in parts of Dublin and some other cities. So investors who entered these growth sectors of the market recently may look forward not only to improved rental returns but also to improved capital gains, especially if they buy before the end of this year when they could benefit from a tax-free return on profits from properties held for seven years.

Comfy cafe up for sale in Roscommon town

A Unique opportunity to purchase established and renowned thriving coffee shop business, Comfy Cafe, Main Street, Roscommon Town The business is being sold as a going concern with the benefit of a long leasehold interest. Certified accounts acknowledging substantial turnover figures are available to genuine interested parties only.

REA announce all new to market properties on Twitter

Follow REA on REAIreland on Twitter and/or Facebook at Real Estate Alliance Ireland. We upload all of our new to market properties. Otherwise you can register for property updates on our website.

Report of Dublin property prices

This report is a guide to the current property market activities in Dublin City and County. It details the trends and volume of properties ‘sale agreed’ in the residential market. The periods examined in this report is September 2012 to February 2013. Read more on

Increased supply set to benefit first timers

Harry Sothern, Chairman of REA gives his views on the increased supply due to come on the market. With the banks/building societies adopting a low or zero tolerance on interest only loans the number of buy-to-let type properties coming to the market is set to increase dramatically. Most of these will have been properties bought between 2004 and 2008. Many were 100% financed and are now in at least 50% negative equity. With the institutions adopting the stance that half a cake is better than none they will be ‘encouraging’ owners who can not make interest and capital repayments to sell or in worse case scenarios repossessing. The numbers involved are quite staggering – up to 50,000 over the next three years. The beneficiaries of this bonanza of relatively cheap properties will fall into three categories – investors, first time buyers and local business/trades people. Sales activity creates new spend (repainting house, new furnishings etc. etc.) which is good for the local area in which the property is sold. Not all will be rosy for the first time buyer either with many of the properties either unsuitable (apartments) or in areas in which they do not wish to live. Outside of our cities low prices will continue to dominate the semi-detached market for a number of years to come. Semi-detached owners looking to trade up will find it difficult to obtain a reasonable price for their home whilst this overhang of buy-to-let repossessions still remains. Purchasers on the other hand will be a little bewildered at the variance in price – the non-stressed homeowner wishing to sell at a reasonable price compared to the bargain basement repossessed property down the road sold at a distressed auction. The key, as always, is likely to lie in location. If a purchaser wishes to live in a certain area then they will likely have to pay a fair price if no repossessed property is for sale in that area. During this time the middle and upper end of the market will see very little new supply. Sales at this end are less likely to be forced/stressed and are more likely the result of relocation, divorce or bereavement. There is a natural and understandable reluctance to sell for less than build/buy cost therefore most will choose just to stay put unless they fall into the above categories. Non city areas will not see any new build in the foreseeable future with repossessed/stressed homes taking care of that demand. Despite the negatives there are also some positive signs. The Dublin market is picking up with demand outstripping supply in many areas. The promise of an increase in lending by the main institutions will inevitable see prices rise. The neighbouring counties to Dublin and main cities will benefit but not for a few years. Rural areas will take longest of all to see improvement. Rents will move upwards as some of the repossessed buy to lets (which are already tenanted) are bought by owner occupiers. Very few one off houses will be built as long as second hand country homes remain at existing price levels. With 30% Capital Gains Tax, the possibility of land frozen around the site and low site price it is simply not economic for farmers to sell sites. Of course the single greatest impediment to improvement in the market is the difficulty in obtaining sufficient finance for most borrowers. There seems to be a strange conundrum at work – the banks are telling sales agents how keen they are to loan money whilst most borrowers will paint a picture of how difficult it is to obtain the finance the require. The lending criteria adopted are too severe and is greatly affecting recovery. Whilst we all accept that the lending in the Celtic Tiger times was reckless our Banks/Building Societies seem to have overacted as a consequence. In conclusion the low instance of repossession of principal private residences surely sends a clear message to the lending institutions that Irish people will only give up their home when there is no other available option.

Save 100's by getting a accredited valuation on your home.

Don’t let yourself get bogged down with self assessment Property Tax, let the professional valuers handle this!With 45 offices nationwide, Real Estate Alliance is Ireland’s No. 1 fully accredited valuer of homes and houses. Facts about Property Tax! • The annual Local Property Tax (LPT) will come into effect from 1 July 2013. • The tax is going to be charged at 0.18 per cent of the value of the property up to €1 million. • The Tax assessment relates to REAL selling prices - not asking prices. • Your REA - Fully Qualified Chartered Valuation Surveyor Firm, knows the REAL value of your home. • Do not accept that the Revenue Commissioners or The Minister, knows the value of your home without even seeing it. • Remember - good advice is invaluable

Next REA Auction - 28th June 2013

Real Estate Alliance are holding their next Auction on the 28th of June in the Davenport Hotel in Dublin. Register online on our website to receive updates.

New Complex Contracts set out by the PSRA

If you are selling or letting a property and are requested to sign a more detailed contract, please be patient with us as we are just following the rules of the Property Services Regulatory Authority!! It is meant to protect the vendor so hopefully you will understand. http://www.psr.ie/website/npsra/npsraweb.nsf/page/publications-letters-en

OUR ADVICE ON PROPERTY TAX

Revenue are advising you to look at the ASKING PRICES on the various websites like realestatealliance.ie, Daft.ie and myhome.ie but it's the SELLING PRICES that matter. They can be found on www.priceregister.ie It's really only prices in the last 6 months that apply. If a property hasn't sold in your area, it is important to deduct 50-60% from the price you paid for your property in 2006/2007. (or use 1996/1997 comparisons).

CONVENT FETCHES €295,000 AT REA AUCTION SPRING AUCTION.

CONVENT FETCHES €295,000 AT REA AUCTION SPRING AUCTION. Real Estate Alliance’s property auction was held today on Tuesday the 5th of March in the Alexander Hotel, Dublin. The Auction was attended and Auctioneer Thomas Potterton kept the momentum going following the successful first sale of Lot 1, an apartment in Malahide road, which fetched 20% more than its reserve. The highlight of the auction was Lot 7 in Dundalk sold for €295,000. Bidding opened for the former convent at the reserve price of €250,000 & was chased by three bidders to the eventual selling price. Elsewhere in the country in Carlow a 2800 sq ft commercial unit sold under the hammer for €102,000 to a local business man. Other commercial units in the same development realised from €77,000 – all 25% over the reserve. In summary, a total of 10 lots were sold as a result of the Auction, with further lots potentially being sold post auction in the coming days. Auction summary: - 10 Properties sold as a result of the Auction - 4 properties were withdrawn for legal reasons & may be available at a later date. - Several others are under negotiation which narrowly failed to reach their reserve prices and are expected to sell in 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 May in Dublin. - 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

View the REA Auction online in real time

The REA Auction's bids will be online on http://www.eigroup.co.uk/onlineauctions/ Watch in Real time. The Results will be on www.realestatealliance.ie by the 6th of March.

REA Auction tomorrow Tuesday the 5th of March.

REA’s regional property auction will take place on Tuesday, 5th of March at Dublin’s Alexander Hotel where 24 property lots will be up for auction. Real Estate Alliance’s Auction team are expecting a good attendance by both bidders and vendors on the day. The auction’s announcement is timely with Real Estate Alliance members having seen positive movement in the market since the turn of the year.

REA Dempsey selling one bedroom apt in Dublin with a reserve not to exceed 55k.

Built by Walls Developments and completed between 2004 & 2006, Burnell Square is a modern development of one, two and three bed apartments. The property is a well presented one bedroom first floor apartment offering surprisingly spacious accommodation that is both practical and well laid out. Extending to c.53sqm (c.570sq ft) with attractive light filled rooms it is situated in a highly convenient location adjacent to Clare Hall within easy access of the city centre and Dublin airport. more info on

Tips at buying at Auction

Real Estate Alliance have set out details on a buyers Guide on the REA Auction part of the website. The PDF Buyers guide is available on the website

Investment property producing €10,800 PA with €150k in tax allowances to be sold in REA Auction

A Freehold Property entirely let under a single tenancy for a term of 5 years from 2013 at an annual rent of €10,800 p.a. and offering a maximum of €150,000 in tax allowances is to be sold in the REA Auction taking place in The Alexander Hotel, 41-47 Fenian Street (off Merrion Square), Dublin 2 at 12 noon on Tuesday, 5th March. The subject property is a New Build, Town Centre Two Storey Building situated at Main Street, Castlerea Town, Co. Roscommon and comprising 2 no. Ground Floor Commercial Units and 1 no. Three Bedroom First Floor Residence. Maximum reserve is €125,000. Referenced Lot 12 in the REA Auction, solicitor with carriage of sale is Mr. Con Harlow, Conleth Harlow Solicitors, Roscommon Town, Contact No. (090) 66 25939. For further information and to arrange a viewing, please contact: REA Carthy (094) 9625990 or log onto www.reacarthy.ie

REA announce Property Lots for next Auction on 5th of March

Real Estate Alliance has just announced that the third of their group Auctions will feature 24 lots. The majority of properties have disclosed reserves of under €50,000 and comprise a range of residential and commercial properties. The cheapest property on offer a 1 bed apartment in Co. Roscommon for €15,000. The auction, the third of REA’s Auctions, will take place in the O’Callaghan Alexander Hotel, Fenian Street, Dublin 2 on the 5th March and 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. More info on http://www.realestatealliance.ie/national-property-auction/

A record low for house building.

According to he Construction Industry Federation has said 2012 was a record low for house building and expects this year to be lower again. New CIF figures reveal that fewer than 8,500 homes were built last year, the majority of which were once-off houses or the completion of unfinished estates.Records on house building began in 1970 and just under-14,000 houses were constructed that year. That figure was the lowest on record until last year. The CIF says the ESRI estimates that 15,000-20,000 new homes need to be built every year to meet future demand. REA believes this will lead to an increase in the numbers of buy to let style properties. Banks will be releasing more & more of these properties as they will not continue to tolerate interest only payments. This will feed the demand for housing.

Mortgage lending to increase

There seems to be more & more proof that the rate of mortgage lending is on the increase. AIB yesterday announced that its mortgage lending target for 2013 is €2bn. The bank also stated that it lent €1.2bn in mortgages in 2012, representing 45% of the market (Bank of Ireland represented about 40% of the market in 2012). This implies that mortgage lending hit €2.7bn in 2012, higher than our forecast of €2.4bn, and 12% up on the 2011 total. Bank of Ireland last week reiterated a €2bn target for mortgage lending that it made last October and has also stated that it has already received €400m in applications for this fund. Permanent TSB said they would lend €350m in mortgages this year. If targets are met, mortgage lending would reach c.€4.5bn, which is almost 70% above the 2012 estimated level. We currently have 22% growth in gross lending for the market in our numbers (to c.€3bn), so clearly there is upside if these targets are reached. Gross lending will not get back to peak 2006 levels of €40bn but positive Irish housing market trends are likely to be a major feature in 2013

Buy to Lets to replace new builds.

For the next few years repossessed Buy to Lets are likely to replace new build semi’s/terrace’s as the property of choice for first time buyers according to Harry Sothern, Chairman of REA. With the banks/Building Societies less willing to tolerate interest only payments, the numbers of buy to let style properties coming to the market is set to increase dramatically. Many of these will be in unfinished estates and will be priced very much to sell. Purchasers who are interested in more mature areas will find a considerable price discrepancy between the stressed/repossessed properties and those in the more mature locations. Interestingly the level of repossessed/stressed sales are likely to roughly equate to the housing need in this area for the next few years. The net result will be an obvious lack of new build (other than one off housing) in the near future.

REA O'Shea O'Toole in Waterford former Talk Talk premises

The Schivo Group, which manufactures high precision mechanical assemblies for the medical device and aerospace industries, has acquired the former Talk Talk premises in the IDA Industrial park in Waterford City. The Property comprises 3,337sq.m and the selling price is believed to be in the region of €500,000. REA O'Shea O'Toole has indicated that there is quite a lot of demand for these types of premises. More information on www.osheaotoole.com

REA Group Auction on the 5th of March in Dublin

REA announce a new date for their next Auction in Dublin on the 5th of March 2013. The Auction will take place in the Alexander Hotel, off Merrion Square in Dublin 2. There will be a mix of residential & commercial lots available. List of Lots will be announced on the 14th of February 2013.

€10 in Land Sales for REA agents over last few months

Real Estate Alliance has released its findings for the last 6 months for the land sales sector. The national property group members report that the land sales sector was one of the most buoyant in the property arena in 2012. REA agents sold over 10 million worth of land in the last six months

Next REA Auction on the 5th of December in Limerick

REA announce their lots for the next regionl auction on the 5th of December 2012 in the Strand Hotel in Limerick. All lots online on www.realestatealliance.ie

Harry Sothern appointed as new REA Chairman at AGM

The appointment of Harry Sothern, Director of REA Sothern in Carlow as Chairman of the national property group and Barry McDonald of REA McDonald of Lucan as Vice-Chairperson were ratified by the group at the AGM in Killarney last weekend. Newly Appointed Board of Real Estate Alliance Harry Sothern – REA Sothern, Carlow Barry McDonald – REA McDonald, Lucan John Dawson – REA Dawson, Tullow Willie Coonan – REA Coonan, Maynooth Michael Boyd - REA Boyd's Kilkenny. Eddie Barrett – REA Norths, Tralee Michael McElhinney – REA McElhinney, Bundoran Michael O’Connor – REA O’Connor Murphy, Limerick City James Lee – REA John Lee, Newport, Co. Tipperary

A reminder to any Ratepayer affected by the Dublin City Revaluation, that the first Deadline for submitting Representations is next Monday 19th November. Over the past few weeks the Valuation Office have been issuing Proposed Valuation Certificates to all Ratepayers in the Dublin City Council Local Authority area. The 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. There is a strict 28 day deadline within which to lodge Representations against the Proposed Valuations. more info on www.odonnell.ie

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.