Tips for Sellers in 2016

It is always difficult to second-guess the property market, timing is important but when you are thinking of selling your home, timing becomes as much about you and your family, as it does about current market conditions.
As estate agents, we appreciate that a lot of thought and preparation goes into making the decision to sell.

For that reason, here at Kinsella Estates, we are happy to speak to would-be sellers on a no-obligation basis, to help them objectively assess whether selling is the right thing for them and, if so, whether now is the right time given current market conditions i.e. local demand, house-price trends and likely competing properties.



Please keep in mind that every home is different and every seller has a unique set of circumstances so the following tips are entirely objective and are provided purely for information purposes:

• 1. Be clear about your decision to sell and work with an estate agent to whom you can talk and whom you can trust to really listen.
• 2. Have your home valued and really take on board the estate agent's advice about strategic pricing, in a crowded marketplace, the right entry price is crucial. Do not be tempted to 'test the waters' with a high price as, even if you later reduce your asking price, you are unlikely to attract back any potential buyers lost.
• 3. This point holds true for presentation too. Start strong to give your property the best chance of attracting a buyer. If a lick of paint and a garden clear-out is needed, do it prior to coming to market.
• 4. De-clutter like your sale depends upon it, as it just might! The rule of thumb here is to start removing trinkets lying around until your family starts to notice. Even if you cannot bear to start parting with keepsakes, you can think of this as the start of your packing and moving process.
• 5.Be flexible and accommodating when it comes to accepting viewings. The viewing might not lead to an offer, but failing to accommodate a ready viewer will always block any offers that might have come.
• 6. During viewings, have the property and surrounds looking its best then vacate your home (as owners tend to make viewers feel uncomfortable until they leave!).
• 7. Understand that buyers rarely view or even shortlist just one property for negotiation so, be patient. Speaking of patience, buyers can be very slow to make offers if they know that they are the only party currently interested. Patience is the ultimate virtue of the seller but it's okay to be patiently impatient!
• 8. If, after a few months, no offers are coming forward, it might be time to re-assess things like price and/or presentation - be open to this. Update online listings, arrange to have the 'for sale' cleaned or replaced if weather-damaged and upload some fresh photos.
• 9. While we appreciate that it can difficult, you must not take low offers personally and react in anger. These are not a reflection on you, nor are they necessarily a reflection on your home, but rather a reflection on the buyer and market conditions. Remember, the market speaks more loudly than any marketing or media hype.
• 10. This is a necessary, though often uncomfortable stage. Be prepared for that and just keep focused on your next move. Though possibly uncomfortable, this is also the exciting step to moving on.

For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact Michael, Alan or Eileen Kinsella at www.KinsellaEstates.ie

Email me directly on michael@kinsellaestates.ie or telephone : +353 53 94 21718

Wicklow Remains Ireland's Priciest County Outside the Capital

Property prices throughout the county of Wicklow remain high despite a slight slow-down in the number of transactions in the latter half of 2015.  Overall transaction figures for the county last year are 1,362 and this is slight increase on 2014, which saw 1,338 transactions.  Given that the volume of sales and purchases prior to 2013 was below 1,000, the last two years have actually been the busiest time in the Wicklow property market since the crash.

So what does that mean for would-be buyers and sellers in 2016?

Lack of stock is definitely the biggest challenge facing buyers, so that should be good news for sellers intending to bring their property to the market this year.  Headlines in the media reported a fall in the level of transactions over the previous six months - in fact, Wicklow was the only county in Leinster to record a drop in the number of people buying - but this can be attributed to the falling number of houses and apartments on the market and the lack of new housing development.

At the moment, there are approximately 750 residential properties on the market throughout the entire county of Wicklow.  However, just over 500 of these are houses - which homebuyers tend to favour -  and a mere 150 of these are within the national average price for a home-owner.  This is not good news for first-time buyers or for buyers trading up with an average budget.

It will come as no surprise that Wicklow is two very distinct markets, north and south.  Housing is more plentiful, and certainly more affordable, in the south.  House-price recovery was slower in the south but prices here have started to increase as stock level continue to fall.

The level of new development throughout the county is still low.  As of January 2016, there are less than 20 new homes available and these are spread among a handful of smaller developments.  It would certainly be a wise move for intending buyers to have a look at the local authority planning  applications, and more importantly, have a look for commencement notices to see what new developments are planned and in progress.   

All of this information is available through the Wicklow County Council website and buyers can contact Kinsella Estates for help understanding what all of the information means in relation to finding the right home!

For anyone thinking of selling, 2016 will be a particularly good time to bring a house or apartment to market as there is still strong, consistent demand from buyers, and very little competition from other sellers.  In any market, the best presented and correctly-priced homes will sell first.  The key is to attract buyers - the right buyers - from the moment the house hits the market.  This means preparing in advance.  Gone are the days when you can 'test the waters' by bringing your home to the market at the wrong price or in a poor state of presentation.  Every fixer-uppers need to be presented to potential buyers in a way that helps them envisage actually living in the property and making it their home.

This is certainly something that the team here at Kinsella Estates can help you with prior to marketing your home.  If you are thinking of buying or selling in Wicklow or surrounding areas in 2016, talk to us for independent, expert advice.  

For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact Michael, Alan or Eileen Kinsella at www.KinsellaEstates.ie .  

Email me directly on michael@kinsellaestates.ie or telephone : +353 53 94 21718                  

Tips for Selling over the Christmas Season

08 December 2015

By Michael Kinsella, auctioneer with www.KinsellaEstates.ie

 Christmas may well be the season of selling but this has traditionally been restricted to reindeer jumpers and festive bath salts, certainly not property! But is this still the case?  Over the past decade, our property market has been up and down and is just about levelling out now.  If the last few years have taught us anything, it is that seasonality is a luxury for functioning markets and in Ireland, we are not quite there yet.

The run up to last Christmas was uncharacteristically busy due to the ending of the CGT waiver period (when properties that were purchased between specified dates and subsequently held their investment properties for a period no less than seven years could benefit by way of an exemption from Capital Gains Tax).  This limited Revenue initiative encouraged new investors, drove existing demand and effectively focused the buying power of investors in the marketplace.  It was not a happy time for owner-occupiers struggling to compete for their new home.  It is also one of the most likely reasons for the slow-down in transactions throughout 2015.

With the New Year just around the corner, have sellers left it too late to sell or sale-agree their homes or investment properties in 2015?  The good news is that the property season now continues, right through the jolly season.  Here at Kinsella Estates, like every Christmas, we will be taking phone calls and dealing with emails throughout the holidays.  In fact, we know from experience that this is a busy time, particularly with returning ex-pats who use the Christmas holidays as a time of house-hunting and research (in between rounds of visiting and mince-pie eating of course!).  This year will be no exception.  With the strength of the sterling against the euro, interest from UK buyers is already growing.  Many of these UK buyers are Irish emigrants or they have Irish roots and are looking to return home or to pick up a bargain holiday home for personal use.  The sunny South East has always been one of the destinations favoured by these buyers. 

So what are the pros and cons of selling at Christmas?

Disadvantages:

1.      Certainly there are fewer buyers active in the marketplace.

2.      Accommodating viewings can be difficult with visiting family (especially noisy children).

3.      Christmas decorations will need to be handled with taste, recycled tinsel is rarely irresistible to house-hunters.

4.      Buyers might (rightly or wrongly) assume that the seller is financially motivated to sell quickly.

5.      It can be difficult to find a local estate agent willing to work over the Christmas period  - luckily this is not a problem in the Wicklow and Wexford areas as we are always on hand and ready to sell.

Advantages:

1.      Buyers who are looking during this period are generally serious buyers and ready to commit to the right property once they find it.

2.      With the exception of a beautiful, bright summer day, Christmas is usually the time when your home is looking its best.

3.      The Christmas season is generally a feel-good time and potential buyers should be able to experience your home at its most homely and cosy, with all the look, smell and feel of the season.

4.      With fewer sellers opting to bring their properties to the market at this time of the year, sellers who do will have less competition for a genuine pool of ready buyers.

5.       This reduced competition between sellers increases the chances of attracting a ready buyer in a shorter space of time.

So, if you make the decision to bring your home to the market this side of Christmas and to keep viewings going over the holiday period, here are a few helpful tips:

1.      Do go ahead and decorate  but keep it tasteful! 

2.      The usual advice to de-clutter is even more important at this time of the year, remember, for viewings, less is always more.

3.      Curb appeal is crucial over the holiday period with people returning home so keep the 'For Sale' board prominent and stick to classic seasonal decorations outside.  Top tip -  your family and friends might appreciate your quirky personality on show in your garden but potential buyers are unlikely to. 

4.      Be flexible, allow viewings at short notice and make the house cosy and inviting.  It this time of the year it is difficult to showcase in natural light so create the feel of luxury and comfort instead.

5.      Most importantly ask for advice.  Local estate agents know the area, we know the buyers around at this time of the year and we want to help you sell.

Guest article by Wicklow and Wexford based auctioneer, Michael Kinsella, of www.KinsellaEstates.ie
For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact Michael, Alan or Eileen Kinsella at www.KinsellaEstates.ie . 

Email me directly on michael@kinsellaestates.ie or telephone : +353 53 94 21718                  

Wexford property is now the 10th most expensive in Ireland

Wexford property jumps from 20th place in 2012 to 10th place in 2015 of Ireland’s most expensive counties, but that’s not a bad thing

The introduction of the National Property Price Register (www.propertypriceregister.ie), giving details of all residential sales since January 2010, has been a great a great step forward for both buyers and sellers. It was introduced at a time with the entire property industry needed a boost and when consumer confidence in the market was at an all time low. Not only did this allow buyers and sellers to go through the individual property addresses and see the actual prices achieved, more importantly, it allowed us Auctioneers to talk about transactions in a way that we could not before, due to onerous data protection legislation.

When it comes to selling property, knowledge is power and local knowledge is the most powerful of all. We now know that there have been fewer than 3,500 transactions across County Wexford over the past (almost) six years. What might surprise locals to know is that back in 2012, property prices in Wexford were among the cheapest in Ireland, ranked 20th out of 26th counties according to an Institute of Professional Auctioneers & Valuers (IPAV) survey carried out at that time.

When we take a look at how far prices dropped from their peak values, it does make for some stark reading. For instance, detached houses fell 53% in Wexford compared to the national average decline of 46%. Four-bedroom semi-detached houses hit a low of 52% from peak, while three-bedroom semis have fallen 57%. Similar to experiences across Ireland – including in the capital and regional cities – apartments took the biggest hits with one-bedroom apartments in the Model County falling 68% and two-bedroom units dropped a massive 66%.

You might imagine that these figures would have driven demand and even attracted opportunistic investors (who tend not to be area-specific) to the country but the opposite happened. By 2013, the volume of transactions was 65% lower than in the years before and after!

Fast forward a few years and we can see that residential property in Wexford is now considered to the 10th most expensive in Ireland. What this essentially means for buyers and sellers is that recovery is well underway in Wexford and that our local market is out-performing other regional areas. A recent property report from Daft.ie shows that the average asking price of a house in Wexford is now €145,734, up 12.9% since last year.
This is, of course, good news for local sellers who have been waiting for the right time to bring their homes and investment properties to the market, but it is actually good news for potential buyers too as there is more certainty buying in a well-recovering market.

As with all average figures, the numbers above do not tell the full story. There are towns in County Wexford that have fared better than others. For home-owners and investors who are considering whether or not now is the right time to sell, talk to us for independent advice, based on local knowledge.

For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact Michael, Alan or Eileen Kinsella at www.KinsellaEstates.ie

Email me directly on michael@kinsellaestates.ie or telephone : +353 53 94 21718