Olivier

Reading

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Just found out on rightm*ve that the terraced house in front of us has been put on the market.

West Reading, nice and quiet mews estate built in 2006, 3 bedrooms with a decent garden.

Sell price in Jan-07 - £272k

Ask price in Sep-08 - £268k

According to my "rent vs buy" excel worksheet, if they manage to get the asked price, they will be £18k worse than if they had rented (90% mortgage assumption) or £19k worse than if they had rented (100% mortgage assumption).

I reckon it might sell around £210k. (in that case, they would be about £80k worse than having rented the same property)

I think I'll keep on renting for one more year...

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For 268K you can buy a 4 bed detached house in earley/lower earley/winnersh area. I hope you have property-bee installed?

Just found out on rightm*ve that the terraced house in front of us has been put on the market.

West Reading, nice and quiet mews estate built in 2006, 3 bedrooms with a decent garden.

Sell price in Jan-07 - £272k

Ask price in Sep-08 - £268k

According to my "rent vs buy" excel worksheet, if they manage to get the asked price, they will be £18k worse than if they had rented (90% mortgage assumption) or £19k worse than if they had rented (100% mortgage assumption).

I reckon it might sell around £210k. (in that case, they would be about £80k worse than having rented the same property)

I think I'll keep on renting for one more year...

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We've just sold (fingers crossed everything fine, completing in a few days) a 2 bedroom terrace in a street in south reading full of noisy students and dead mice for 210K, asking price in April 215K.

I reckon we've been lucky.

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http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A

Or if the link doesn't work, go to lot 198.

Three bedroom + cellar terraced house in Mount Pleasant, very close to the town centre, went for £100,000. My target price for an average terraced house in Reading is £91k. This is getting quite close now.

Yikes, in July 2007 I talked my GFs mate out of buying a house on Mount Pleasent. The slimey spiv EA (Atlantis) reckoned that it was a steal at £199K.........

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Yikes, in July 2007 I talked my GFs mate out of buying a house on Mount Pleasent. The slimey spiv EA (Atlantis) reckoned that it was a steal at £199K.........

These people bought it in 2003 for £107k. I guess that means a lot of people in -ve equity now if the last 5 years of price increases have been reversed.

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Did you notice that penthouse flat near to Tesco's sold at the same auction .

Lot 31 / 141 Luscinia View, Napier Road, Berkshire RG1 8AF , sold for £292,500

http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A

Last sold 28/04/06 for £550,000

http://www.houseprices.co.uk/e.php?q=141+L...1+8AF&n=100

Only a £257,500 loss !!!!

I saw that one. I thought it was still too expensive. Given the choice between that and the house in Mount Pleasant at the same price, I'd go for the Mount Pleasant house. I certainly wouldn't pay an extra £192,500 to be next door to Tesco.

I hadn't realised it had gone down in price so much though. £550k is just silly money.

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I saw that one. I thought it was still too expensive. Given the choice between that and the house in Mount Pleasant at the same price, I'd go for the Mount Pleasant house. I certainly wouldn't pay an extra £192,500 to be next door to Tesco.

I hadn't realised it had gone down in price so much though. £550k is just silly money.

There's an auction tomorrow at http://www.barnardmarcusauctions.co.uk/Current_Auction.html .

Look at lot 194 , 214 Gosbrook Road, Caversham, Reading, Berkshire, RG4 estimated £120,000 .

This is a repo which last sold for £220,000 on 02/02/06 .

http://www.houseprices.co.uk/e.php?q=214+G...ad%2C+Caversham

Should be interesting .

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There's an auction tomorrow at http://www.barnardmarcusauctions.co.uk/Current_Auction.html .

Look at lot 194 , 214 Gosbrook Road, Caversham, Reading, Berkshire, RG4 estimated £120,000 .

This is a repo which last sold for £220,000 on 02/02/06 .

http://www.houseprices.co.uk/e.php?q=214+G...ad%2C+Caversham

Should be interesting .

The Property Bee history for this one is quite interesting

http://www.rightmove.co.uk/viewdetails-209...p;mam_disp=true

Tue Nov 4 08:56:23 2008

* Status changed: from 'Sold STC' to 'Available' [Found by readingrabbit]

Thu Oct 30 19:58:59 2008

* Brief Description changed: A spacious character terrace home situated in this popular residential location within good access of Reading town centre and mainline station. Available for sale by Auction via Barnard Marcus (Auctioneers), Commercial House 64/66 Glenthorne Road, Hammersmith W6 0LR. On Monday 10th November [Found by whowhatme]

* Price changed: from '£190,000' to 'Guide Price £120,000' [Found by whowhatme]

Sun Oct 19 16:49:31 2008

* Status changed: from 'Available' to 'Sold STC' [Found by whowhatme]

Fri Jun 6 17:32:38 2008

* Price changed: from '£199,000' to '£190,000' [Found by Frank Mason]

Thu May 22 08:09:54 2008

* Price changed: from '£209,950' to '£199,000' [Found by bpotter]

Thu Apr 24 11:14:10 2008

* Initial entry found. [Found by whowhatme]

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The Property Bee history for this one is quite interesting

Must be some worried people around there .

Look at this one which is close by .

Guide price at auction £140,000

http://www.rightmove.co.uk/viewdetails-112...p;mam_disp=true

Nextdoor trying to sell for £199,950

http://www.rightmove.co.uk/viewdetails-223...p;mam_disp=true

Just noticed .

Have a look at the two EPC graphs at the bottom of each page .

How can one house be so different from it's neighbour ?

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Just noticed .

Have a look at the two EPC graphs at the bottom of each page .

How can one house be so different from it's neighbour ?

More modern, more efficient boiler?

Double glazing?

Loft insulation?

just guesses...

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Must be some worried people around there .

Look at this one which is close by .

Guide price at auction £140,000

http://www.rightmove.co.uk/viewdetails-112...p;mam_disp=true

Nextdoor trying to sell for £199,950

http://www.rightmove.co.uk/viewdetails-223...p;mam_disp=true

Just noticed .

Have a look at the two EPC graphs at the bottom of each page .

How can one house be so different from it's neighbour ?

The neighbour has double glazing. I guess that must make a big difference to the EPC rating.

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The neighbour has double glazing. I guess that must make a big difference to the EPC rating.

I didn't realise dglazing made such a huge difference , never having lived in a house with dglazing .

I always used heavy curtains :-)

Strange how the "potential" for both houses are different yet they are both living up to their best individual potential's .

Probably just an EA mishktake .

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I didn't realise dglazing made such a huge difference , never having lived in a house with dglazing .

I always used heavy curtains :-)

Strange how the "potential" for both houses are different yet they are both living up to their best individual potential's .

Probably just an EA mishktake .

Believe me, it does. I moved from a place without double glazing to a similar place nearby with double glazing, and my heating bill fell from £400 per year to about £12.

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Did you notice that penthouse flat near to Tesco's sold at the same auction .

Lot 31 / 141 Luscinia View, Napier Road, Berkshire RG1 8AF , sold for £292,500

http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A

Last sold 28/04/06 for £550,000

http://www.houseprices.co.uk/e.php?q=141+L...1+8AF&n=100

Only a £257,500 loss !!!!

Hah hah, that means that the 'Penthouses' are now going for about the same amount of cash as the 'normal' flats in the block (which were circa £250K). I looked at one of the 'normal' 2 bed flats a few years back. They were so small that they had a midget chaise longue in the 2nd room as opposed to a bed. These places are funny - I have actually heard people from bristol etc on the train laughing at them as they go past

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Not seen any EAs go bust in Reading yet, which is a shame. Of the larger ones, my money is on either Atlantis or Prospect to go first. I guess job losses have not started to impact their letting business yet. However, it will happen soon. Frankly, I cannot wait.

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hey guys,

just found this site but have been stressing for a long time and need some good advice. We sold our house recently and are currently at the in laws waiting for our purchase to come good. Cash from the sale is sat earning interest. The place we are waiting on we saw in march and put an offer on. It started at £300k when he put it on the market around feb but he eventually accepted our offer of £280k. That was back in april and he still hasn't sorted himself out and is still sat on our offer of 280. I know that prices have dropped but it doesn't seem to have affected everywhere or everything, atleast as far as i know which isn't very much apparently. The place is in a nice area and comes with over 1/3 acre garden and is an extended 3 bed semi. From what i am being told places like this that are pretty much unique around here are holding their value well, even zoopla and alikes value it at around the £280k mark now. Even still looking around there is little to match the house and if anything comes up it sells pretty quickly. I don't think he would accept less because he needs the money to move on. Is this still a good price for tilehurst? I have been contemplating pulling the plug and settling in at the inlaws or taking on a let so as to see how much more prices drop. Thing is my wife has fallen in love with the place so letting the place go won't be easy and i am beginning to wonder if we could replace or match the house regardless of future price drops.

Other stumbling block is the mortgage. I have the offer but it expires in march. I am porting my existing mortgage which makes up half of our borrowing which is at 0.47% above base and the rest is at 1% above base. Those rates are old rates for an existing customer and i can't come close to matching them anywhere else. So, as much as i wander about sitting it out and seeing if or how much prices drop i have the issue of having to complete by march or facing a much more expensive mortgage.

any advice or opinions or ideas would be greatly received.

cheers

rich

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Am not there but still keep an eye on what is happening. Can see from agents that anything selling or "under offer" is about 30% lower than last October. Anything else isnt selling...look at that place in Gosbrook Road 140K...last sold at 220K....keep waiting, next year may see really big falls, only my opinion, but I lived in the last recession and so many factors seem the same...hold tight :rolleyes:

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Not seen any EAs go bust in Reading yet, which is a shame. Of the larger ones, my money is on either Atlantis or Prospect to go first. I guess job losses have not started to impact their letting business yet. However, it will happen soon. Frankly, I cannot wait.

Norwood, two doors along from Argos, has gone bust. They opened about 6 months ago, and I don't think they saw a single customer in that time.

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Still not seeing big drops. I basically want a £300K house for £200K :rolleyes: ideally somewhere along the A33 between Reading and Basingstoke. There is a place in Spencers wood that is on for £247. It last sold at £173 in 2000.

However, that is the only place out of about 300 listed on Globrix that even looked vaugely like reasonable value.

Lots and lots and lots of horrible looking house in crap places like lower early, whitley wood and 'west reading' (i.e Oxford road) still on at £220 plus. Who are they trying to kid??

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Am not there but still keep an eye on what is happening. Can see from agents that anything selling or "under offer" is about 30% lower than last October. Anything else isnt selling...look at that place in Gosbrook Road 140K...last sold at 220K....keep waiting, next year may see really big falls, only my opinion, but I lived in the last recession and so many factors seem the same...hold tight :rolleyes:

I see that terraced house down Queens Road

http://www.rightmove.co.uk/property-for-sa...y-20473747.html

was sold at auction 09/12/08 for "only" £138,000

http://www.romans.co.uk/auctions_search_re...operty_id=18850

.

(This is the house which has a neighbour for sale at £199,950 .

http://www.rightmove.co.uk/property-for-sa...y-22345646.html ) .

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I see that terraced house down Queens Road

http://www.rightmove.co.uk/property-for-sa...y-20473747.html

was sold at auction 09/12/08 for "only" £138,000

http://www.romans.co.uk/auctions_search_re...operty_id=18850

.

(This is the house which has a neighbour for sale at £199,950 .

http://www.rightmove.co.uk/property-for-sa...y-22345646.html ) .

Hmm, the latter one is in a lot better nick that the former one. How much would it cost to completely 're-do' a house that size the bring it up to the spec on the £199K one I wonder?

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Hmm, the latter one is in a lot better nick that the former one. How much would it cost to completely 're-do' a house that size the bring it up to the spec on the £199K one I wonder?

Less than £61,950 , assuming the £199k house is in good nick :-)

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