O’Donnellan and Joyce selling properties but buyers are kings

There was no shortage of people attending O’Donnellan & Joyce’s auction last Friday in the Victoria Hotel where buyers left the auction room with big smiles on their faces.

O’Donnellan & Joyce placed four properties under the hammer. The first property comprised a four bedroomed detached residence at Stradbally North, Clarinbridge and attracted excellent viewings and two bidders in the auction room. Bidding commenced at €300,000 and eventually stalled at €340,000, not having reached the reserve price (minimum price €350,000 ). Auctioneer Colm O’Donnellan consulted with his client and the property was placed on the market to see if there were any further bids in the room. After no increase in bidding it was knocked down to a delighted purchaser who received tumultuous applause from the packed auction room for securing a detached house at tremendous value. The solicitor for the seller was Mr Donal Downes of O’Dea & Co, Hardiman House, Eyre Square, Galway.

The next property was a delightful two/three bedroomed terraced bungalow in the Claddagh. The property attracted two keen bidders with bidding commencing at €200,000 and increased rapidly to €285,000, and once again failed to reach the reserve price of €320,000. Negotiations were entered into after the auction and the property was sold to a delighted first time buyer.

No 11 The Heath and a property at Clarinbridge, failed to reach their reserve price and were withdrawn, but are currently under active negotiations through the agents.

Colm O’Donnellan of O’Donnellan & Joyce outlined that the good news for sellers is that properties are being sold more actively and within the last three months O’Donnellan & Joyce has recorded a substantial increase in sales over the previous year and the traditionally quiet period of July, August, and September was the busiest the agents had for a long time. There is tremendous value currently in the market as prices have dropped by as much as 35 per cent to 50 per cent, depending on location, from their peak of 2007.

The following is a list of some of the houses which have been sold in the last three months by O’Donnellan & Joyce

Three bed semi Parnell Ave, Mervue sold €210,000

Four bed semi Rosan Glas, Rahoon sold €275,000

Five bed detached St Mary’s Pk, Taylors Hill sold €760,000

Three bed semi Portacarron, Knocknacarra sold €255,000

Four bed detached Bungalow, Ard na Gaoithe, Clybaun Rd sold €490,000

Three bed detached with apartment, Inchagoill Rd, Newcastle sold €540,000

Four bed detached Dangan Hts, Newcastle sold €380,000

Three bed terrace, Gort Greine, Rahoon sold €210,000

Two bed semi Frenchville, Claddagh sold €400,000

Four bed semi Gort na Bro, Knocknacarra sold €230,000

One bBed apartment Abbeygate Street sold €130,000

Three bed semi Drom Oir, Clybaun Rd sold €243,000

Three bed semi , Boireann Beag, Roscam sold €265,000

Four bed semi , The Links, Knocknacarra sold €280,000

Two bed ground floor apt, Costa na Mara, Oranmore sold €200,000

Four bed detached Dun Daingean, Newcastle sold €425,000

Colm O’Donnellan outlined that smart buyers are currently out in force, and there has been a substantial improvement in the last three months, occurring in a market which is still devoid of substantial mortgage finance.

Prices are currently at 2003 levels, and within the last three months agents have seen a substantial increase in the volume of sales.

Further information can be had in relation to O’Donnellan & Joyce’s forthcoming sales from Colm O’Donnellan 087 2887446, Anne Harding 086 8173335, Niall Browne 086 6009523, or Tony Joyce 086 2529110.

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