Rise in 'sale agreed' properties - report

omahaid

http://www.rte.ie/news/2010/0224/housing.html

What does this mean? Are myhome.ie exaggerating a bit? Or are people buying because prices are more affordable? Or are people buying because they want to? Or...?

kmick

Im sale agreed since November but its still not sold as the buyers are asking for new things to be done all the time. I dont consider it a done deal until I have the money in my account. This is the second time I am sale agreed so things are falling through for various reasons (cant get finance, want furniture thrown in etc). Sale agreed is a million miles from sold.

sodaev

Currently renting a house which was also up for sale on both Daft and Myhome. The status on both is now Sale Agreed. Another house we were looking to rent in the area is also showing as Sale Agreed even tho it's only rented out too.

Both were let thru the same letting agency of a "reputable" Estate Agent.

Smoke and mirrors.

Uriel.

As usual - sensationalist headlines etc...

Just like the increases in rent last month.

This really means very little in real terms.
But one of the potential major shockwaves that could spring forth from an article like this is the sudden fear that house prices will start jumping and all those who have been holding off for the bottom of the market will rush out and make silly purchases.

Irresponsible journalism once again.

I, for one must say "HOOOORAY" - the slump is over, the economy is revving up and the housing market is back on track - Viva la 2006 house prices :rolleyes:

Fozzie Bear

Noticed this myself after Christmas. I have been looking at houses around Galway city/communter towns&areas for the past 18 months and a load of them went sale agreed with a week or two of each other in January. This had happened on and off before with some houses but within a month or two the sale agreed status was removed. Starting to see this now with some of those houses from January that had been sale agreed. Back on the market.

Seeing some adverts too with *****SALE AGREED****** or *****UNDER OFFER OF X AMOUNT***** or *****FIRST OFFER OF X AMOUNT SECURES***** in the description part of the advert.

More EA bullsh1t and spin. They and vendors certainly are not taking the property crash lying down. More kicking and screaming until they finally realise people will not pay their ridiculous demands anymore and start pricing houses accordingly.

mrgaa1

kmick wrote: »

Im sale agreed since November but its still not sold as the buyers are asking for new things to be done all the time. I dont consider it a done deal until I have the money in my account. This is the second time I am sale agreed so things are falling through for various reasons (cant get finance, want furniture thrown in etc). Sale agreed is a million miles from sold.

agreed - i've a couple sale agreeds myself but nothing is nothing until monies in the account. But I do so a little more interest from buyers who are asking closer to the mark but then I do have them realistically priced.

shoegirl

There is no fixed register of properties in this status that cannot be massaged by vested interests, so its deeply questionable.

irishguy

I have notice lots of houses around D6 that have gone sale agreed (and quite a few sold) in the last month or 2. Its mostly 3/4 bed houses that have come down 40/50%

Guell72

I know several people who have gone sale agreed in the last 3 or 4 months. Only 2 have gone to sold though in that time.

stepbar

Keep an eye out over the next few months for "sale agreed" properties that go back up on Daft / Myhome. I'd say they're will be piles of them. I wouldn't believe what any estate agent has to say at present.

Going on my own experience, an apt I was interested "apparently" has a bid of 145k on it (150k guide price), however I happened to notice that the price has now dropped to 129k? Strange huh? :rolleyes:

Dempo1

Its complete BS, I've been browsing this and other property sites and and the only movement i have seen is price reductions, i could half believe it if it were April, May, June etc, this is the least likely time for anyone to buy, if that is they could get a Mortgage. This story is a little like the Irishjobs.ie MD stating just after Christmas she has noticed an upsurge in temporary vacancies being filled? It would be fantastic if our economy depended on people working part time.

I hate to be cynical but its difficult not to be with such blatant nonsense.

irishguy

Well I know 5 people who bought a house between November and December (Including myself) and I know another 7/8 people who are looking to buy by the summer time (Half of which have funding in place). They are all first time buyers and mostly looking in Dublin city centre.

I would believe there is a shortage of certain houses (3/4 bed semis) in certain locations (mostly close to Dublin city centre) that are well priced (Down C.50% from the 2007 peak). Now I am sure in 6/12 months time when interest rates start going up it will force a few more people to sell up investment properties. Unless the rates start shooting up (which seems quite unlikely in the medium term) there will still be a shortage of these types of properties.

I am not saying its back to 'the good old days' but there is definite interest out there

Dempo1

This does appear to show there is some movement, but equally i am sure there is an equal amount of people losing their homes. I see AIB announced they are not going to fund re mortgages or consolidation loans and instead solely concentrate on New Mortgage applications, hard to know if this is a good or bad thing.