everything around me has gone sale agreed

something odd is happeneing - every house within 500mts of ours has gone sale agreed in the last week.

myhome.ie/residential/brochu … -14/427881
myhome.ie/residential/brochu … -14/333654
myhome.ie/residential/brochu … -14/410941

these 3 and another one on on Weston Ave ( which has gone off myhome altogether ) have the “Sale Agreed” sticker showing in the last week.

Have we turned the corner ? is the market about to take off again ? :open_mouth:
The Sherry Fitz sales person who was here at ours ( landlord is putting it on market ) told Mrs Del that they can’t get enough houses round here to satisfy demand :open_mouth: :open_mouth: :laughing: ( btw all of the above were on the market for 5-6 months )

I’m seeing something similar here rob. Lots of Sale Agreeds.

The stamp duty reduction effectively reduced prices by that amount.
So many sales were agreed.

But, as I write over and over again … sale agreeds arn’t worth the paper they are written on.
They are worthless.

Wait till the buyers approach their banks and see how many make good on their loan approvals.

I predict many sale agreeds will be back on the market soon enough (unless the sellers have the cop-on to accept the lower offer based upon the banks lower mortgage).

Edited for syntax

What areas are you seeing this in as a matter of interest ?

I put a similar posting on the 'How bad a time is it to buy?" thread a few days ago -

Scrambler wrote:
I have seen so many Sold and Sale Agreed signs up lately. Is it a blip in the stagnant economy of house sales? It can’t be things picking up IMO. The country is totally screwed I think, can’t see any flaws really in Morgan Kelly’s argument that ‘cash only’ property transactions will be the sum total of such transactions within a relatively short time as banks just won’t be lending. Surely a good way for prices to fall yet?

Yoganmayhew wrote:
Well, I think you might be seeing cash or mostly cash buyers jumping in as holding their cash becomes more risky.


“It is impossible to design a system so perfect that no one needs to be good.”

IMO this doesn’t reflect the bottom of the house price falls tho. Until banks are realistically lending at least 80% or maybe 90% of the average house price to the average person, we cannot have ‘bottomed out’. I think this really does reflect people with money on deposit being more comfortable with owning property than owning our currency. This in itself strikes me as being quite worrying!

funny you should say this, I was only today talking to someone who recently was left money and was thinking that they would be better off making some offers @ 60% of asking and taking their gamble the market won’t fall by > 40% more than leaving it in the bank. I suppose, the banks aint lending “cash is king” the banks are fucked anyway - cheap houses are at least somewhat safer. It’s always great being rich but I presume being able to move in the lull between Irish banks cessation of lending and the inevitable foreign banks arrival to restart the party will aide their richerness.

Sale agreed means feck all.

Barton Road houses will be available for €200k afore long.

I have noticed this in some Dublin 11 and 9 areas over the last couple of months. Over the last three to four weeks, many of the “sale agreed” signs changed to “sold”. This would be three to four bed semi-d houses, have not noticed what is happening with apartments. Some of these would be on the market 6 - 8 months, and others less - some in a matter of 8 - 10 weeks.

I am wondering if some of these are reflective of sales where speed matters more than price - for example where the owners are emigrating.

Maybe Stewart from the Apprentice has arrived? Everything he touches turns to sold…

I saw two out of three of the original post - not worth the money. Also saw this one just over a week ago - finnegan.ie/residential - however the EA told me they had an offer at the asking price. It’s not worth 375k as it’s quite old fashioned and not as spacious as the photos imply. I see one week later that’s it’s not sale agreed on the website.

None of the links in the OP are.

Dublin 9 which is where I am currently looking.

Most of those houses incidentally are not necessarily houses I would choose to buy with one or two exceptions. Not heartbroken because houses are pretty much always coming up in this area.

Major conspiracy theory time. Estate agent has buyers interested in house A but they just need that little extra nudge to get them to commit. So he sticks Sale Agreed signs on houses B, C and D in the same street just to concentrate the minds of his prospective buyers. (“This is a very popular area and this is the only house currently left on the market so I expect it will be snapped up by someone else if you don’t up your offer today.”) The EA even has the other sellers in on the deal. ("My buyer is only really interested in house A so it’s no skin off your nose to stick up Sale Agreed on your house for a week. In fact it will strengthen your own position because you will be able to tell your own prospective buyers that a house has just sold down the street for €X.)

Only thing is the estate agent I live in has houses on sale by at least 4 different estate agents at the moment. Can’t see them colluding in the current market.

What’s the problem? They can’t even put together a decent dead cat bounce as all sale agreeds are doubtless well below asking!

If you’re out for yourself and that seems to be the pinster ethic in general, more suckers / lemmings is just good business… You need transactions to drive prices down and to make sure there’s another one for the pyramid… :nin

would the sale agrees be due to the papers telling the buyers about TRS (Tax Relief at Source). I read in one of the weekend papers that it will be reduced end of the year.

From citizensinformation.ie/en/ho … elief.html

"Budget 2010 extended mortgage interest relief up to the end of 2017 for people whose entitlement was due to expire in 2010 or after (that is, people who took out mortgages in 2004 or later). Mortgage interest relief will be abolished entirely after 31 December 2017.

Mortgages taken out between 1 January 2004 and 31 December 2011 will continue to qualify for mortgage interest relief at current levels up to the end of 2017
For mortgages taken out in between 1 January 2012 and 31 December 2012, there will be a 15% rate of relief for first-time buyers and a 10% rate for non-first-time buyers."

I dont recall extact figures but it said that a drop of €25k on a house next year would be equal to having secured TRS before the end of this year… No idea if this is correct so if anyone can set me straight it would help me defend that house prices will continue to fall…

All legislation is up for grabs with a new government there Ted, as far as I can make out, Fine Gael will not only buy me a house but they will also pay the mortgage in full.

:smiley: Who needs a sarcasm smiley?

:blush:

Definitely saw evidence of this in Marino last year.
House recently done up went up for sale and then miraculously two houses
around the corner six months on the market suddenly went sale agreed.
Three weeks later the for sale signs were back up. Trying to give an impression
of successful activity to prospective buyers.Also saw a similar tactic by one estate
agent on Griffith Avenue last autumn.

Really there should be an ethics act for EA’s-they just stoop to the lowest of the low tactics to try and scam people.