Wednesday, May 26, 2010
We are holding a Farm Machinery Auction at lakefield, Fethard, Co Tipperary on Tuesday 1st June at 2pm.
This is something we do perhaps only 2 or 3 times a year, so it will be interesting to see the turnout and demand for the Combine, tractors and assorted equipment on offer.
There is a great selection of farm machinery, most of it in excellent condition. Items include:
1998 New Holland Combine TX 65 with 20’ header and straw chopper, 1987 John Deere 3050 with flotation tyres, 1995 John Deere 7800, 1990 John Deere 3050, 1991 John Deere 3650, Heavy Duty O+K loader and fittings, Rollex Ring roller 20’, 5 grain/silage trailers, Bale trailer, Berthand trailed sprayer 20metre, Bredal converted lime to fertiliser spreader, Tine harrow, Overum 6 furrow reversible, 12’ Simba disc harrow, Fleming Super grass topper, Hi-spec topper, Kverneland 4 Furrow reversible, 4metre Amazon single pass & trailer, JD 7ft Chisel Plough, 2XFurrow Presses, Spare Wheels and tyres, Stone Fork and many other items. Viewing is on the morning of sale.
If you want further details or wish to inspect the machinery, please mail me or call us at 052 6121622.
Wednesday, May 19, 2010
Two new lettings in the past few days are good news for Clonmel Town Centre.
A unit at Gladstone St, (formerly Only), and one at Market Place (formerly Culletons) have now been let and both will open with new tenants within the next month.
A great vote of confidence in the town to see new traders.
Monday, May 17, 2010
From the SBP, a development group that owes €100million to Ulster Bank has a receiver appointed to a number of landmark property schemes.
This sums up the attitude:
"The move by Ulster Bank comes just eight weeks after Bank of Ireland appointed a receiver over the group's €50 million apartment and retail scheme, City Square, in Cork city. The project was held in the name of Conway partnership and comprises 147 apartments and commercial units.
At the time, the company said it was ''shocked and disgusted'' by what it described as an ''unnecessary course of action'' by Bank of Ireland."
As so often happens, a trickle becomes a torrent.
From the SBP, a story which will cause a lot of difficulty over the next few months, unless Revenue take a lenient approach.
"Revenue has confirmed that parents or other third parties that have guaranteed a borrower's loans will be deemed to have given them a gift and triggered a corresponding liability to capital acquisitions tax (CAT).
CAT is applied at a rate of 25 per cent of the value of the gift or donation. Tax rules dictate that a borrower would face a CAT liability of €25,000, for example, if his or her parent is pursued by a bank on foot of a guarantee of €100,000."
Lots of mortgages taken out as prices peaked had Parental guarantees.
The house buyers could not afford the house they wanted to buy.
They still wanted to buy it.
The Lender wanted to give them the money.
If, even using the most lax of qualifiers, the applicant could not achieve the required security, they were asked to get their parents to go guarantor.
This was totally reckless on behalf of the lender.
It put the parent in a difficult position.
They sometimes had a charge put on their own mortgage-free home.
This after 20 years of paying off their own mortgage!
Will anyone in the banks see any censure for this?
From the SBP, a story which will become more common as the fallout from the huge splurge on property unravels.
Solicitors, doctors, teachers, electricians, name any profession or trade, saw what they thought were easy pickings in an ever-increasing market.
People with little or no development or property experience became overnight experts as their gamble (they always classed it as an “investment”) rode the property boom.
Unfortunately, the game of “pass the parcel” ended sooner than some thought it would and left many in a very precarious position.
Expect to see some surprising, though nonetheless sad, bankruptcies over the next 12-18 months.
"Co Tipperary joins Cavan and Longford for the cheapest twobedroom apartments — below €100,000."
The full survey puts Co Tipperary property in the lower end of the pricing spectrum across all classes.
Good value to be had in Co Tipperary...and a great place to live!
Check out Co Tipperary property at www.pfq.ie.
Friday, May 7, 2010
I forgot to update on web activity for www.pfq.ie
For the month March 2010 we had 2,850 visitors for 23,515 page views.
Physical viewings amounted to 68.
April 2010 produced 2,330 visits to the site with 19,976 page views.
Physical viewings amounted to 69.
Still lots of people checking out where the market is and where it might be headed.
Things have improved greatly over the last 2 months, with viewings, offers and sales up…against all the odds!
Prices have fallen further in the first 4 months of this year and this is reflected in increased interest in competitively-priced houses.
Those that have not addressed pricing are not being viewed, while those that have, have seen a large increase in activity.
Here are the figures for March '09 and '10
Here are the figures for April '09 and '10
As you can see, while viewings in March 2010 were down 17% on 2009, offers were up slightly, by 11%.
In April, viewings are down 23% on last year, with offers down 19%.
Prices have continued to decline.
We are finding that buyers are more focused than before.
Most viewers have their financial homework done prior to viewing now and are aware of exactly how much they have mortgage approval for.
In the boom days, this was the last thing on a buyers mind, as finance was invariably forthcoming from some of the lenders, each of whom tried to outdo the other in easy access to money.
So far this month, there has been renewed interest in Retail outlets.
Rent for these has reduced enormously and some smaller units in good locations are available from €100 per week, with a prime unit of 350 sq ft, near Superquinn, available from €14,000 per year.