Olivier Posted October 8, 2008 Share Posted October 8, 2008 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... Quote Link to comment Share on other sites More sharing options...
ReadingRabbit Posted October 16, 2008 Share Posted October 16, 2008 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... Quote Link to comment Share on other sites More sharing options...
Popette Posted October 19, 2008 Share Posted October 19, 2008 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. Quote Link to comment Share on other sites More sharing options...
jonb Posted October 31, 2008 Share Posted October 31, 2008 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. Quote Link to comment Share on other sites More sharing options...
JonoP Posted October 31, 2008 Share Posted October 31, 2008 http://www.auction.co.uk/residential/LotDe...amp;S=L&O=AOr 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......... Quote Link to comment Share on other sites More sharing options...
jonb Posted October 31, 2008 Share Posted October 31, 2008 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. Quote Link to comment Share on other sites More sharing options...
Dead Spider Posted November 1, 2008 Share Posted November 1, 2008 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 !!!! Quote Link to comment Share on other sites More sharing options...
jonb Posted November 1, 2008 Share Posted November 1, 2008 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. Quote Link to comment Share on other sites More sharing options...
Dead Spider Posted November 9, 2008 Share Posted November 9, 2008 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 . Quote Link to comment Share on other sites More sharing options...
jonb Posted November 9, 2008 Share Posted November 9, 2008 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] Quote Link to comment Share on other sites More sharing options...
Dead Spider Posted November 9, 2008 Share Posted November 9, 2008 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 ? Quote Link to comment Share on other sites More sharing options...
TeddyBear Posted November 9, 2008 Share Posted November 9, 2008 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... Quote Link to comment Share on other sites More sharing options...
jonb Posted November 9, 2008 Share Posted November 9, 2008 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. Quote Link to comment Share on other sites More sharing options...
Dead Spider Posted November 9, 2008 Share Posted November 9, 2008 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 . Quote Link to comment Share on other sites More sharing options...
jonb Posted November 9, 2008 Share Posted November 9, 2008 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. Quote Link to comment Share on other sites More sharing options...
JonoP Posted November 10, 2008 Share Posted November 10, 2008 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 Quote Link to comment Share on other sites More sharing options...
jonb Posted November 10, 2008 Share Posted November 10, 2008 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 . Sold for £145,00 Quote Link to comment Share on other sites More sharing options...
JonoP Posted November 13, 2008 Share Posted November 13, 2008 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. Quote Link to comment Share on other sites More sharing options...
Number79 Posted November 19, 2008 Share Posted November 19, 2008 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 Quote Link to comment Share on other sites More sharing options...
Soldup&movedBKK Posted November 25, 2008 Share Posted November 25, 2008 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 Quote Link to comment Share on other sites More sharing options...
jonb Posted November 25, 2008 Share Posted November 25, 2008 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. Quote Link to comment Share on other sites More sharing options...
JonoP Posted December 10, 2008 Share Posted December 10, 2008 Still not seeing big drops. I basically want a £300K house for £200K 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?? Quote Link to comment Share on other sites More sharing options...
Dead Spider Posted December 18, 2008 Share Posted December 18, 2008 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 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 ) . Quote Link to comment Share on other sites More sharing options...
JonoP Posted December 19, 2008 Share Posted December 19, 2008 I see that terraced house down Queens Roadhttp://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? Quote Link to comment Share on other sites More sharing options...
Dead Spider Posted December 19, 2008 Share Posted December 19, 2008 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 :-) Quote Link to comment Share on other sites More sharing options...
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