Crazy asking prices

[goldenpeach]

After looking in the Midlands we are now looking to buy in Oxford but since January asking prices have gone crazy and it seems by comparison that even East London (where we used to live)is cheaper. Are estate agents attempting to force a spring bounce elsewhere? We are keeping tabs on sold houses and noticed that some estate agents are pricing houses in certain streets at a ridiculous level in an attempt to catch up with pre-crunch prices in desirable areas. As we have been looking since last summer, I'm starting to get worried as I really want to settle down somewhere. Most of my stuff is in the garage awaiting our relocation, including furniture. Because of our uncertain situation I have tried not to put down roots and I find myself quite isolated now.

Noddy, we are using B (previously RB), seem good blokes, no EA nonsense - its been a difficult sale and they have dealt with it very well. It looked like it was going to fall apart a couple of weeks ago but they sorted it out. D&C did a very good job for a divorcing friend, but when he came round to do a valuation he talked non stop for 50 mins, by the time he left I felt like I had my soul sucked out!
!

Migola, definitely taken about 15-20% cut on peak prices, which equates to 50-60K.

Will be sad to leave fiveways in some way, but an exciting adventure and a big garden awaits us.

I like them!i have had a chat with them and they were quite honest.I like 5ways too.Not sure we need to pay a premium anymore for schools and am considering other options.I love the blakers pk area but like dp says ds is nearly 15 and planning on going to college either 7 dials or lewes in 2 yrs so we could go anywhere.Good luck with your sale.Did B give you a valuation to take into account offers or did they give you something close to what you could achieve?Thanks xx

B as in the two blokes who wear identical pinstripe suits?!
I know what you mean about one of the Ds, bless him he does like to talk!!

It'll be interesting to see how much stuff we've seen has sold for (prices not up yet)..
I wonder if we've seen yours interstella!

have you been to Preston Park Tavern whilst you are viewing? lovely food there.

yes MABS we've been there a few times by now! It's really nice

Noddy, their valuation was slightly higher - they were basing their estimate on a property they had also sold in our road. However, we went with the valuations from D&C and S&L from Patcham, who suggested 10K less and go for offers approx 15k under (which was exactly what we got). We werent going to go with B at first, because of the higher valuation but I am really glad we did. I think fiveways is attractive to people who havent got children (my new neighbour is a middle aged lady on her own) because of shops and position.

Migola, our house is 3 bed, rendered and very white, has a loft conversion without building regs (which isnt classed as a room) and a south facing garden!

I think we saw it, is it on D road? It's a lovely house and I would have happily moved there but DH is comparing everything to the 3 storey we missed out on on havelock in terms of size . There have been 3 or 4 we've seen that I wanted to put an offer on but he's said no!
are you moving out of brighton?

Your house is virtually identical to ours our room sizes are a tiny bit wider but yours is a lovely road I think I will get B David and wyatts and see who says what.

I am with Abetadad here, also we have been looking now for nearly a year in Oxford and prices have come down a fair bit but are still expensive compared to other places.

One thing to bear in mind when buying in Oxford is catchments,make sure you live near the school as in DS's year a lot of people in catchments didnt get in due to the school being heavily oversubscribed.Even people with siblings already there missed out.....

I'm not too worried about schools, what is on the market is a bit dire and pricey at the same time, the school is the last of my worries. With prices crashing in London, I'm a bit peeved Oxford is proving so hard to crack. My partner is watching online auctions and he says quite a few properties are up for auction, so I guess the picture is not as rosy as estate agents claim as some properties are not that bad.

goldenpeach how do you find out about properties which are being auctioned?

Hi to those checking out what is happening in Brighton. My opinion is that there is still not much coming on the market. I assume the crunch isn't biting too hard so far, so not many people having to move. Decent houses, reasonably priced seem to come on to the market and go SSTC fairly quickly. Houses with flaws and those overpriced are just sitting there.

D&Co seem to have a fair few new sold boards around at the mo, and A's seem to be in relative decline.

Brighton is looking lovely in the spring sunshine though and my sea view was shiny and clear today.

greeneggs it is lovely atm!I am on the move again My road is dreadfulall lets and no real neighbours.

V sorry to hear that Noddy . I didn't realise the road was mainly lets - I know some people down the far end who have lived there a long time, but then again, my friend who lived there let out his rooms to students...

Shame as it is a handy location, and your house is very handsome from the outside . Where are you looking to move to? The other side of Fiveways? I'd have thought you might like the Dials maybe? North Laine possibly??

How do you feel about selling? Will you sell and buy, or rent again for a bit do you think?
Best of luck with it - and I really would recommend D&Co.

Thanks will def get david and co round.i am fine about selling again.We are about to do the front of teh house just a quick tart up really as the inside is done and have gardeners atm too.I like the house very much and teh proximity to 5ways but I just don't like the 'feel'.Also we have done so much and it was so cheap that it has made a little bit so am glad it isn't a loss.If we don't sell in 4 weeks we are going to stay though as i really think this mini bounce is our last chance.Spoke to 2 agents at 5ways and things are selling and although tehy are taking a while they are getting good prices.i am shocked at that really.Fingers crossed

Hi Noddy. Are the agents at Fiveways to be trusted or are they talking bull? From looking at the recent sold house prices, I would say not much sold in Jan in the area, although there are definitely more sold boards up now. Question is whether people are actually getting the mortgages once they have put offers in? I suppose if it is London money coming in, then that is more likely, as they will have more to play with.
Best of luck with putting yours on the market. Have you seen anywhere you would like? How do your ds and dh feel about moving?

Well I know a couple of them are probably telling stories!But my parents are moving here and I have spent 5 weeks looking with them and I have been really surprised at how many have sold in this time.My parents have missed out on a few which I didn't think would happen.Dp fine about moving ds doesn't know yet as we haven't decided for sure.A friend of mine has sold though had her house on for 350 and it did take ages but she only dropped 15k in the end so who knows.there hasn't been one of these houses for sale for ages so am hoping someone will want it.I am not going to view anything til I have an offer if I get one at all.Our garden is looking lovely so would be happy to stay put if I have to

Well good luck Noddy, Now feels like a good time to buy, what with the sun being out and all, people are a bit more optimistic than in the last couple of months. Wonder how Brighton is going to fare in general with the credit crunch - so far it feels like things aren't too bad yet, although I noticed two empty shops in Churchill Sq today.
One person I know got made redundant a few weeks ago, but he has found another job already, so who knows?

Migola, DP registered with auctions houses's sites. You can see some auctions online.