Over pricing

debtfreein2008

Thanks you for all the replies, even the sarcastic ones! This has given me a reality check in terms of what I need to do.

The area is Stony Stratford which is just outside Milton Keynes and I want to live here because I want to live in a town with a high street rather than a soulless estate in MK! Furthermore I commute and its not too bad to get to station. Its a really popular area and lots and lots of the home are being snapped up for development and then rented:(

I like the advice at looking at homes under my max and so this will also be my new tactic. Furthermore I might buy somewhere in another area and rent it out and then rent in Stony - at least until I have a bigger budget or am not buying on my own! (assuming that happens )

Thanks again x

alchemist.1

debtfreein2008 wrote: »

PS I should say I dont have a property to sell and have a mortgage offer so I think that should put me in a good position.

Say about 100+ others looking for the same thing.

Pixie5740

debtfreein2008 wrote: »

Hi

I'm currently trying to buy a house in a particular area and I'm coming up against the issue of over pricing by estate agents and over paying especially by BTL developers! Is there anything I can do?!

debtfreein2008 wrote: »

Its a really popular area and lots and lots of the home are being snapped up for development and then rented:(

debtfreein2008 wrote: »

Furthermore I might buy somewhere in another area and rent it out and then rent in Stony - at least until I have a bigger budget or am not buying on my own! (assuming that happens )

If you can't beat 'em, join 'em.

Thrugelmir

debtfreein2008 wrote: »

Thanks you for all the replies, even the sarcastic ones!

You used the term overpricing........;)

debtfreein2008

Oh I stand by the over pricing based on what other properties are selling for and also based on market trends. However I accept that if that's where I want to live then that's how it is!

chappers

In a rising market both buyers and sellers expectations change and that's how prices are determined.
Luck may mean that you offered on the wrong properties, depending on the vendors outlook or circumstances.
In 1996 we were looking at houses, going away and thinking about it coming back with offers and being told we were too late and that in any case our offers weren't hitting the mark. three months of this and we soon realised that we needed to make quicker stronger offers if we wanted a house in the area we wanted.

bouicca21

So the London bubble has rippled out th MK? When I was buying last year prices in my bit of London were up by just over 30 % from the previous year. Roll on another year and they are up by another 30%. It sucks, but the market is the market ...

looknohands

I'm not sure they're overpriced if people buy them. I've seen some real over priced properties in our search, ones that sit on the market for months and then slowly keep getting reduced. I'd just tell the EA and see their response, ones I've viewed and said I thought were over priced have generally agreed with me and told me they'd be open to offers.

JP08

bouicca21 wrote: »

So the London bubble has rippled out th MK? ...

Probably - the whole Oxford - Cambridge arc (sort of follows the X5 bus route from Oxford - Bicester - Milton Keynes - Bedford - St Neots - Cambridge) seem to be going up at a ridiculous rate of knots (with the possible exception of Bedford).

Thanetia

debtfreein2008 wrote: »

The area is Stony Stratford which is just outside Milton Keynes and I want to live here because I want to live in a town with a high street rather than a soulless estate in MK! Furthermore I commute and its not too bad to get to station. Its a really popular area and lots and lots of the home are being snapped up for development and then rented:(

Thanks again x

Stony has always been popular for all the reasons you mention. Try Newport Pagnell, Fenny Stratford or (bit further out) Olney instead