GOATSTOWN €535,000:LIKE MOST auctioneers in town Martin O'Mahony hasn't scheduled an auction in many months but he feels that with an AMV of €535,000, there ought to be sufficient interest in this three-bedroom house in Goatstown to create competitive bidding.
Number 13 Friarsland Road is a spacious semi, with plenty of room to extend and has a good-sized and private back garden. At the height of the boom it could have fetched €800,000 or more.
O'Mahony has set an auction date of November 25th with viewings over the coming Saturdays.
The house is set in a cul-de-sac with plenty of off-street car-parking and a garage.
It would make a good starter home, as an alternative to an apartment, and first-time buyers will have no stamp duty to pay.
If the auction gamble pays off, O'Mahony of Property Team will consider putting more houses on the block with reasonable reserves.
It's a trend that may well take hold in the new year, as owners or indeed banks, cut their losses and sell to the highest bidder.
Large scale auctions of difficult-to-shift property are commonplace in the UK and US and it could happen here in 2009.
In the past, only estate agents have reserved their best and most expensive properties for the auction room, but in the last 12 months the auction system has been decimated with only a handful of homes selling under the hammer in 2008.
13 Friarsland Road, Goatstown, Dublin 14
Three-bedroom semi-detached house with potential to extend, a good-sized private back garden and a low AMV prior to public auction on November 25th
Agent: Property Team O'Mahony
