Monday may have been the day when thousands of people across the county flocked to their hairdresser or barber, or hit the road for that long-awaited visit to family or friends, but it also marked the day where potential property buyers could physically view a property before deciding to buy it.
Since January viewings were conducted virtually and online with physical viewings only permitted in cases where a bid on a home was accepted.
This week has been particularly busy with property viewings back in vogue with a flood of offers being received.
We have seen lots of people looking to view what properties we have available. The issue at present is stock levels are at an all-time low and demand is particularly high.
For anyone considering selling their property, now is a particularly good time to go to the market. We have seen a significant jump in prices locally over the past six months and there is a strong appetite for property at present.
The return of property viewings is very welcome as it allows the market to operate as it should.
However, there are some positives to take from the lockdown experience. If this last lockdown has shown us anything it highlights the resilience of the property market. Some of the changes we were forced to make as agents we intend to keep in place. Property video walkthroughs and virtual viewings are here to stay.
Although current guidelines allow for property viewings from this week, buyers must still comply with public health guidelines by wearing face coverings and using hand sanitiser as provided.
The doors to DNG Ted Healy finally open to the public again on Monday next, May 17.
This is something we are really excited about, it is another giant leap forward in a return to normality and allows us to get back to what we do best.
For anyone considering selling their property we would be delighted to speak to them, or better still, call into our office for a chat.
Mortgage approval received, what next?
By Ted Healy of DNG TED HEALY Once your mortgage application is approved, you should look for mortgage protection cover which is insurance that will pay off your mortgage if you die within the term of the policy. You should not wait until you have made an offer on a house or apartment before shopping […]
By Ted Healy of DNG TED HEALY
Once your mortgage application is approved, you should look for mortgage protection cover which is insurance that will pay off your mortgage if you die within the term of the policy.
You should not wait until you have made an offer on a house or apartment before shopping around and applying for mortgage protection insurance. It can take some time to get approval, particularly if you have had poor health in the past. This could delay the sale as, by law, your lender must make sure that you have this cover before giving you a mortgage.
Most mortgage lenders offer to arrange mortgage protection insurance for you when you apply for a mortgage. You do not have to take your lender’s insurance, you are free to shop around for better value or a more suitable policy with other providers and brokers.
Another important element is appointing a solicitor to act on your behalf in the conveyancing – this is the legal work to transfer ownership of the property from the seller to you. It is a good idea to choose a solicitor before you start looking at properties, because as soon as your offer is accepted, the estate agent will ask for your solicitor’s details to pass onto the seller’s solicitor. Your solicitor will also check that the sale of the property is legal – that the person who is selling the property owns it and has the right to sell it, and that nobody else could claim to own it.
Your solicitor will also liaise with your mortgage provider at this point and help you through the whole process of mortgage drawdown, when the time is right.
You are now ready to look at properties and place bids with mortgage approval in place.
Kerry house prices accelerate – IPAV’s residential property price barometer
The Institute of Professional Auctioneers and Valuers (IPAV) latest Residential Property Price Barometer shows an acceleration in house price increases over the previous six months including in Kerry. Overall IPAV’s study has found double digit growth for 3-bedroom homes in Waterford and Limerick. And close behind are Tipperary, Meath, Louth and Cavan with nine plus […]
The Institute of Professional Auctioneers and Valuers (IPAV) latest Residential Property Price Barometer shows an acceleration in house price increases over the previous six months including in Kerry.
Overall IPAV’s study has found double digit growth for 3-bedroom homes in Waterford and Limerick. And close behind are Tipperary, Meath, Louth and Cavan with nine plus percent growth, followed in the eight plus percent range by County Dublin, Carlow, Dublin 15, Dublin 7 and Kildare.
In Kerry three-bedroom homes increased by 4.55pc; 4-bedrooms by 9.80pc and two-bedroom apartments by 3.70pc.
Some of the area specific increases are accounted for by new blended working opportunities where people don’t have to operate from formal office settings on a full-time basis, according to IPAV’s Chief Executive Pat Davitt.
“While that is an influential factor, the main driver of increasing prices is the lack of supply of homes to meet current and pent-up demand. And that is why predictions by economists and others of house price drops during the pandemic have not materialised, forecasts IPAV called into question at the time,” he said.
Mr Davitt said his organisation welcomes the Government’s new ‘Housing for All’ plan with a commitment to invest €4 billion per year to build 300,000 homes over the next nine years.
“While the nuts and bolts of how precisely the plan is going to achieve that target remains to be seen, it is in the interest of society as a whole that the plan works because continuing house price increases at the level we are currently seeing would not be sustainable over the longer term but will not abate either until more stock comes on stream to meet supply.
He said the extension of the Government’s Rebuilding Ireland Home Loan scheme from Local Authorities was welcome but it needs to be extended further to enable all purchasers to take advantage of the 4.5 times income under that scheme, not just first-time buyers.
The IPAV Residential Property Price Barometer charts house prices achieved by auctioneers, as opposed to asking prices. Mr Davitt said while that difference is always relevant it is particularly so now given the intensity of activity where, it would appear, asking and achieved prices are diverging, often to a considerable degree.
He thanked members of IPAV for their contribution to the study which he said provides “real market evidence as opposed to speculation on prices”.
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Mortgage approval received, what next?
By Ted Healy of DNG TED HEALY Once your mortgage application is approved, you should look for mortgage protection cover...