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  • Merlin Property Auctions » Merlin Property Announce Auction Date at Asset Management Launch
    by this team in each of their own fields means we can service and control all types of property assets always ensuring that whilst revenue is being collected and managed the asset is also being vetted to identify the potential to increase or adapt the property to maximise the return for our client We have developed an extensive partnership with Wealth Management Quantity Surveyor and Architect firms to offer a full service solution for their customers At the launch David Byrne Managing Director of Merlin Property said Merlin are recognised and respected in the field of Auctioneering and have been for over 37 years with our sister company Ganly Craigie He went to add Having identified a shift in primary asset disposal through our existing working relationship with the major banks we decided as part of our sustainable business plan to expand on our existing involvement in the property industry The guest speakers at the launch included Karl Deeter of Irish Mortgage Brokers Vincent O Farrell of OFQS and Paula ter Brake Managing Partner of Weston and Wellington Each gave their insights in their respective areas into the current status of the market Karl Deeter of Irish Mortgage brokers discussed the banks saying Irish banks might end up needing as much expertise in operations and asset management as they lacked in the credit decisions that lead up to this He went on to say Debt forgiveness divides society along for and against lines In fact it is just a term for facing commercial reality in certain situations and we gave the banks the money to do this with On property sales he commented We believe that non apartment second hand properties in cities is the best market for buy and hold investors with yields in many cases near low double digits there is a compelling argument for property for the first time in almost a decade Paula ter Brake Managing Partner of Weston and Wellington was on hand to reinforce Merlin Properties strong working relationships with market investors in determining their needs She also elaborated on some of the issues they face and how Merlin Property are best placed in their service to offering solutions There is significant interest from the investment community both in Ireland and globally in our distressed market yet very few transactions are being executed according to Paula ter Brake Investors are increasingly frustrated with the time to execute transactions and the inconsistent methodology applied by vendors in underwriting large value property acquisitions With investors applying a more rigorous pre purchase due diligence process than previously seen in this market the time and cost of concluding negotiations with Irish banks is driving investors to retreat to the relative normality of alternative property markets such as London where assets delivering strong returns can be acquired swiftly She continued Novice property investors ill prepared and unfamiliar with the need to utilise hybrid valuation methods in a challenged market are equally to blame for stalling the process Vendors are

    Original URL path: http://www.merlinproperty.ie/blog/merlin-property-announce-auction-date-at-asset-management-launch/ (2016-02-17)
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  • Merlin Property Auctions » Savills to delay its national property auction
    Categories Latest News Merlin Property Latest News Merlin Property Press Release Uncategorized Buyers Click here to find out more Sellers Click here to find out more Turn Key Service Click here to find out more Property Catalogue Click here to download Guide To Buying At Auction Register To Buy At Auction Glossary of Auction Terms Auction Venue Property Tracker Contact Merlin Savills to delay its national property auction Savills To

    Original URL path: http://www.merlinproperty.ie/blog/savills-to-delay-its-national-property-auction/ (2016-02-17)
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  • Merlin Property Auctions » Irish loan losses could rise – KBC
    here to find out more Turn Key Service Click here to find out more Property Catalogue Click here to download Guide To Buying At Auction Register To Buy At Auction Glossary of Auction Terms Auction Venue Property Tracker Contact Merlin Irish loan losses could rise KBC KBC set aside 49m for potential loan losses in its Irish subsidiary KBC Ireland in the second quarter of 2011 Belgian bank KBC has set aside 49m for potential loan losses in its Irish subsidiary KBC Ireland in the second quarter of this year This was broadly in line with the figure for the first three months But the bank warned that loan loss provisions could be higher in the next quarters as the Irish market had not improved as the bank had envisaged KBC said austerity measures had a sizeable impact on households and tough credit conditions would remain fuelled by continued downward pressure on property values and rising interest rates Overall KBC reported underlying second quarter net profit of 528m ahead of expectations as a strong underlying performance in Belgium and Central Europe helped offset losses on Greek bonds The group said it was hit by an impairment of 102m after tax

    Original URL path: http://www.merlinproperty.ie/blog/irish-loan-losses-could-rise-kbc/ (2016-02-17)
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  • Merlin Property Auctions » NAMA to help first time buyers but property tax up to €600pa
    Contact Merlin NAMA to help first time buyers but property tax up to 600pa TWO separate attempts to generate badly needed Exchequer cash from property can be exclusively revealed today In a desperate attempt to kickstart the market NAMA will stump up some of the money needed by first time buyers to buy its apartments And those who own their own homes face swingeing property tax bills of up to 600 a year when the permanent scheme is introduced in three years time NAMA will sell hundreds of apartments in various parts of Dublin from October in a radical move to bring some life to the moribund property market Chairman of the agency Frank Daly has outlined fresh details of plans to give loans to buyers of apartment blocks that it currently owns He said this would include asking both domestic and foreign lenders to join with it in the initiative The pilot phase will be in Dublin and start in October with a couple of hundred apartments being offered In an interview with the Irish Independent on the eve of NAMA s first annual report Mr Daly said banks were not lending enough to the property market and had

    Original URL path: http://www.merlinproperty.ie/blog/nama-to-help-first-time-buyers-but-property-tax-up-to-e600pa/ (2016-02-17)
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  • Merlin Property Auctions » New auction house gets strong public response
    News Merlin Property Latest News Merlin Property Press Release Uncategorized Buyers Click here to find out more Sellers Click here to find out more Turn Key Service Click here to find out more Property Catalogue Click here to download Guide To Buying At Auction Register To Buy At Auction Glossary of Auction Terms Auction Venue Property Tracker Contact Merlin New auction house gets strong public response New auction house gets

    Original URL path: http://www.merlinproperty.ie/blog/new-auction-house-gets-strong-public-response-2/ (2016-02-17)
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  • Merlin Property Auctions » New auction house gets strong public response
    News Merlin Property Latest News Merlin Property Press Release Uncategorized Buyers Click here to find out more Sellers Click here to find out more Turn Key Service Click here to find out more Property Catalogue Click here to download Guide To Buying At Auction Register To Buy At Auction Glossary of Auction Terms Auction Venue Property Tracker Contact Merlin New auction house gets strong public response New auction house gets

    Original URL path: http://www.merlinproperty.ie/blog/new-auction-house-gets-strong-public-response/ (2016-02-17)
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  • Merlin Property Auctions » A housing dilemma — should I trade up or renovate?
    a 30 year mortgage of approximately 200 000 Based on mortgage rates of 4 75pc the repayments would amount to approximately 1 044 per month for a family which decides to borrow a further 100 000 to renovate and upgrade their home extend it etc The new 300 000 mortgage over 30 years will now cost 1 566 per month The upside to this approach is that they retain their existing home and suitable location no stress or costs arising from relocation and no stamp duty They are also enhancing the value of the property should they sell at a future date However they should not expect that if they invest 100 000 they would automatically recoup the 100 000 should they sell it after the property has been upgraded In some cases they might be lucky to get less than half what they have spent Indeed some of those who invested in renovations at the peak of the market have seen the value of their extra investment wiped out Furthermore they have had to bear with disruption during renovation and an increase in the monthly mortgage cost Trade up But what if this family traded up In this approach the family sell for 350 000 and pay off their existing mortgage of 200 000 leaving them with a gross of 150 000 in cash The family buys a property suitable to their needs for 450 000 and pay stamp duty of 4 500 Other costs including fees etc could amount to 10 000 Allowing for these costs the family will have a mortgage of 315 000 costing 1 644 per month The upside to trading up is the avoidance of renovation stress and in some cases the cost of alternative accommodation The downside is that there are costs and

    Original URL path: http://www.merlinproperty.ie/blog/a-housing-dilemma-should-i-trade-up-or-renovate/ (2016-02-17)
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  • Merlin Property Auctions » Two auction houses sold
    out more Sellers Click here to find out more Turn Key Service Click here to find out more Property Catalogue Click here to download Guide To Buying At Auction Register To Buy At Auction Glossary of Auction Terms Auction Venue Property Tracker Contact Merlin Two auction houses sold Two of three Dublin southside houses offered for sale at a Gunne Residential auction yesterday were sold A two bedroom mid terraced house 26 Beaufield Manor Stillorgan Co Dublin right was brought to auction with a 180 000 reserve and was sold for 202 000 A single storey two bedroom cottage at 13 Dermot O Hurley Avenue Stella Gardens Irishtown Dublin 4 left had seen bidding peter out at 89 000 and it was withdrawn Afterwards it was sold for just below its 99 000 maximum reserve It is in need of complete refurbishment The third house was 86 Mount Drummond Square Harold s Cross Dublin 6W An extended two bedroom semi detached house it had a 220 000 maximum reserve Bidding peaked at 196 000 at which it was withdrawn Agent Marion McQuillan said that the property failed to sell in subsequent negotiations and was now for sale by private treaty

    Original URL path: http://www.merlinproperty.ie/blog/two-auction-houses-sold/ (2016-02-17)
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