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There seem to be quite a few houses going SSTC in Reading, any updates from anyone "on the ground" in Reading?

I am keeping an eye on south and east reading and there are quite a few going SSTC.

It remains to be seen if they finally managed to sell.

The prices have really not droped as much as it should.

I guess, this spring bounce will not last, and everyone will be back to square 1 this winter.

Also, many vendors have withdrawn from selling and put up for renting. I know its difficult to rent them out at desirable as it was for selling. some houses are advertised for both sell and rent at the same time!!!

I guess vendors are gonna loose a lot, this winter...or at least past next election...

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just found another flipper, romans auctions 11.02.09 lot 06 sold 181,000 now on rightmove 225,000 yellow house / shop

http://www.rightmove.co.uk/property-for-sa...00&index=10

this one should be interesting

Interesting two posts above this, thanks.

On the flipper, let's hope he loses his bet. It would seriously gall me for him to make a quick £40k profit on that horrible yellow monstrosity.

Would love to see him stuck with that place...how long until he's forced to bite the bullet and paint it white?

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  • 1 month later...

It all seems quiet on the Reading front.

I'm still keeping a close eye on things there. If you go solely on Righmove info. it looks like most properties are either sold or "under offer". (Incidentally what does "under offer" actually mean...an offer has been submitted but not accepted? In that case what is the difference from SSTC?)

Anyway, if you look at Houseprices.co.uk you can see that hardly anything is selling...

Seems that the stand-off is still firmly entrenched in Reading.

Anyone got any other views?

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Put my house on the market last Wednesday. Had a viewing on Friday, and an offer in this morning at £10K less than the asking price (365K), have told the EA I will meet them half way. Think it represents the shortage of supply in this area - within 1/4 mile according to Rightmove there are only 7 properties for sale.

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Found another flipper .

http://www.houseprices.co.uk/e.php?q=214%2...G4+8BL&n=10

1 30/03/2009 £126,000

2 02/02/2006 £220,000

3 19/12/2003 £125,000

Now it's going back to auction at around £150k

http://www.rightmove.co.uk/property-for-sa...y-26363294.html

this lot sold back in november 2008 for 145,000

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 10 november 200

this dont quite add up, sold on november 2008 145,000 now showing as sold in march 2009 for 126,000 ???

now back in auction with a guide of 150,000 :ph34r:

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this lot sold back in november 2008 for 145,000

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 10 November 200

this dont quite add up, sold on november 2008 145,000 now showing as sold in march 2009 for 126,000 ???

now back in auction with a guide of 150,000 :ph34r:

That's what the auction result was on 12.11.08 according to Barnard Marcus .

214_Gosbrook_Road_auction_result_12.11.08.jpg

The auction result wouldn't be at houseprices.co.uk as it was a Halifax repo .

Could be the buyer at the auction had to offload quickly , for a loss .

post-4353-1246982836_thumb.jpg

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  • 3 weeks later...
Put my house on the market last Wednesday. Had a viewing on Friday, and an offer in this morning at £10K less than the asking price (365K), have told the EA I will meet them half way. Think it represents the shortage of supply in this area - within 1/4 mile according to Rightmove there are only 7 properties for sale.

Any update on your sale?

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Found another flipper .

http://www.houseprices.co.uk/e.php?q=214%2...G4+8BL&n=10

1 30/03/2009 £126,000

2 02/02/2006 £220,000

3 19/12/2003 £125,000

Now it's going back to auction at around £150k

http://www.rightmove.co.uk/property-for-sa...y-26363294.html

Lot 9 sold at auction on 20/07/09 for £154,000 .

http://www.athawesauctioneers.co.uk/currentlots.htm

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Bit annoying they turned a profit but I suppose they caught the few months' bounce just right.

The Reading market seems pretty stagnant still, do you agree?

I only follow the market there in passing as it isn't somewhere I'd like to live so couldn't really say .

Too built up for my liking .

There have been a few pads over the last few months though which have been on for "relatively" low prices .

Still far too much though .

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  • 2 weeks later...

Starting to see so decent drops in asking prices now. Am looking in village areas between junction 11 & 12 for houses between £200K and £300k. These two caught my eye a while ago and are now back on at reduced prices:

£20K off this one http://web.aspasia.net/pls/davist/rv?id=21525

£12K of this one http://www.patrickwilliams.co.uk/propertyD....php?pid=140372

Granted, both were horrendously overpriced when they hit the market, but it is good to see they are not selling. I reckon circa £200K is the kinda price that I would be prepared to pay to ‘snap up’ one of these ‘bargains’.....

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  • 3 weeks later...

I have just completed on the sale of my house in a village in West Berks, and although it was on the market for over a year it sold within 5% of asking. We had no end of viewings, and some serious interest but the couple who brought had been looking for 10 months and had recently been gazumped on two properties they had offered on, one by £65K.

We have moved to rented and are looking to buy in the Hants, Surrey, berks boarders. All the estate agents have very little stock to offer and property on their books are selling like hotcakes. One agent that we have sold two properties through in the past qualified the situation thus: Very little stock coming to the market holding up prices, solvent buyers who have been out of the market are fed up with renting or waiting, getting the best fix rate deals and are buying. He had two properties come to the market and had sold within two days at asking price at the being of last week. His personal experience through friends is that the lowering of mortgage interest has taken a lot of pressure off having to sell. So, although he was not expecting prices to rise, they will remain stable until more stock comes to the market or interest rates start to rise.

Personally, we are going to sit it out unless a little gem comes along. My view is we have a way to go yet, and the next 6-12ish months will give a clearer view of the lay of the land – General Election looming , economy etc.

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I have just completed on the sale of my house in a village in West Berks, and although it was on the market for over a year it sold within 5% of asking. We had no end of viewings, and some serious interest but the couple who brought had been looking for 10 months and had recently been gazumped on two properties they had offered on, one by £65K.

We have moved to rented and are looking to buy in the Hants, Surrey, berks boarders. All the estate agents have very little stock to offer and property on their books are selling like hotcakes. One agent that we have sold two properties through in the past qualified the situation thus: Very little stock coming to the market holding up prices, solvent buyers who have been out of the market are fed up with renting or waiting, getting the best fix rate deals and are buying. He had two properties come to the market and had sold within two days at asking price at the being of last week. His personal experience through friends is that the lowering of mortgage interest has taken a lot of pressure off having to sell. So, although he was not expecting prices to rise, they will remain stable until more stock comes to the market or interest rates start to rise.

Personally, we are going to sit it out unless a little gem comes along. My view is we have a way to go yet, and the next 6-12ish months will give a clearer view of the lay of the land – General Election looming , economy etc.

Hmmm, there are a whole bunch of houses getting reduced at the moment, I get daily emails from Globrixs. As for stock, it is low but improving. I never believe a word that EAs say - the one house I looked at recently went under offer twice in the two week period between me first spotting the house and actually getting a chance to go round and view. In both cases the buyers could not get finance.

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  • 2 weeks later...
Any update on your sale?

Sorry, haven't been looking here for a while.

I ended up accepting an offer for full asking price and am nearly ready to exchange - hopefully next week. There does seem to be a shortage of properties round here in the 200-400K range, and those that are competitively priced seem to go pretty quick.

I'm a couple of miles east of Reading, not actually in it btw.

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Sorry, haven't been looking here for a while.

I ended up accepting an offer for full asking price and am nearly ready to exchange - hopefully next week. There does seem to be a shortage of properties round here in the 200-400K range, and those that are competitively priced seem to go pretty quick.

I'm a couple of miles east of Reading, not actually in it btw.

I'd agree with your analysis. I'm looking in the same price range and there is very little for sale. Quite a few have been SSTC for several months though.

I tentatively registered with some EA's recently - they haven't even bothered getting back to me despite me saying I'm a cash buyer with nothing to sell.

It's stalemate in Reading IMO.

But I think that is about to change over the next 3 - 6 months when prices start dropping again.

I hope.

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Yes that's the same observation - things are not shifting and the properties in my rightmove list which had gone SSTC a while back are coming back again after a lengthy waiting game in chains.

According to some of the EA's most of the 'would be sellers' are actually 'waiting' for things to improve - basically they only want 2007 prices or in other words because they are heavily in debt cant reduce their prices :rolleyes:

I'd agree with your analysis. I'm looking in the same price range and there is very little for sale. Quite a few have been SSTC for several months though.

I tentatively registered with some EA's recently - they haven't even bothered getting back to me despite me saying I'm a cash buyer with nothing to sell.

It's stalemate in Reading IMO.

But I think that is about to change over the next 3 - 6 months when prices start dropping again.

I hope.

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  • 1 month later...

Sorry, haven't been looking here for a while.

I ended up accepting an offer for full asking price and am nearly ready to exchange - hopefully next week. There does seem to be a shortage of properties round here in the 200-400K range, and those that are competitively priced seem to go pretty quick.

I'm a couple of miles east of Reading, not actually in it btw.

Did you exchange/complete your sale? Sorry, not wishing to pry just trying to assess whether sales are actually going through, because if you look at houseprices.co.uk you get the impression that hardly anything is selling.

Edited by Our day will come
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  • 3 weeks later...

Gonna kick this for the first time in over a year.

I'm currently renting a pokey 1 bed with my gf in Reading, we can't afford to buy, but we have noticed prices have come down a little in recent months. Anyone else got any thoughts?

Prices have not moved really.

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