For many of us the festive season is an important date in which to be settled, or at least to have a sale agreed.
With the summer break over, youngsters back at school and university and those without school age children back from their post peak season holidays, there is little to stop buyers putting in a final push to find somewhere. Despite the concerns over the continued crisis facing the euro, our own economy and the wider world economy, sales are taking place and October already has a familiar feel in so far that buyers are wishing to be moved in by Christmas.
Advantages Of Buying A Property Pre - Christmas
There can be significant advantages at this time of year; from a buyers viewpoint homes that came to market with the expectations of a spring market, by now will have trimmed prices and could now look much more realistic, and from a sellers viewpoint there probably will not be lots more new houses coming to market next month, so it will be best for buyers to focus on what is available today.
Many are taking the view that things are unlikely to change too quickly. Whereas earlier in the year the pundits appeared unanimous that by now interest rates would have gone up, most don’t expect rates to change for some time soon, perhaps even remaining at their historic low rates for the next 24 months. What is good news is the gradual increase in the number of mortgage products available, especially for those wanting a mortgage with an 80% or more loan to value ratio. This has increased by around 30% over the past six months and the number of buy-to-let products has also increased, with more and more buy-to-let lenders returning to the market.
Are you paying more in rent than a mortgage on a similar property?
With the demand for rental property having been so strong for so long many potential first time buyers are paying in rent an amount that significantly exceeds a mortgage on an equivalent property. With more chance of obtaining a mortgage and the current relief on stamp duty, now could prove to be a good time for them to purchase.
The lessons of the past should see surveyors, when acting on behalf of lenders, rein in over ambitious sale prices, down valuing agreed sums which they feel are too high which in turn should help to prevent prices soaring.
A flat market could prove to be as good a time as any to get on with things. As a vendor no-one expects you to sell the first week-end you go on the market, and as a buyer you are not forced into dropping everything to dash and view the latest entrant to market and then forced into offering with no time for proper consideration. Further-more if you do wish to take time out between buying and selling in order to wait until you find the right home, you are unlikely to be left out of pocket because of a surging market.
Market Your Property At A Realistic Price – Make It Desirable
A realistic marketing price should see potential buyers become viewers as those properties asking too much help amplify the desirability of a well-priced home to be. A flat market for those that can arrange the funding needn’t be a bad thing, and the end of the year can instil sufficient urgency to achieve a sale.
Search For Your Dream Property From The Comfort Of Your Own Home
The emergence of the Online Estate Agent has meant that new buyers are able to search online from the comfort of their own home. Searching for new property through an Online Estate Agent not only means that you can are able to search high quality photographs, floor plans and sales particulars. The Online Estate Agent will also handle all enquiries, arrange viewings, provide feedback, negotiate offers and generally do everything we can to help your sale proceed efficiently through to completion.
Blog post by Charles Lovell, Director at move4us | UK Online Estate Agent | Selling Properties Online
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