How to get the best price for your property

As the housing market cools, it's natural to assume that adjusting your price expectations is the only way to sell your property. Despite growing numbers of properties languishing on some Estate Agents books, there are still encouraging signs that sellers can achieve prices comparable with the boom.

So how is it done?

Here are some considerations for selling in a tougher market:

1. You do need to get your pricing right. No, we're not advocating that you sell below market price. But half the battle in today's market is attracting interested buyers.

Work with your Estate Agent to assess local market conditions and ensure your price is going to attract interest and encourage buyers to compete.

2. Take a long hard look at the condition of your property. If the front door needs a lick of paint, or the garden needs tidying up to improve your 'curb appeal' take action now.

3. Sometimes completing those DIY jobs may not be a good idea. In a tough housing market, buyers are attracted to properties where they can see a return on their investment. If your home has the potential for a loft conversion or extension, consider getting planning permission to make it more saleable.

4. Make your property sparkle. Freshen the carpets, polish the floors, replace broken and damaged floor tiles and don't underestimate the value of a fresh coat of white paint!

Abbey reduce rates again

Abbey have today made their twenty-sixth mortgage re-price of the year, with the announcement that they are to cut the cost of their two, three and five-year fixed rates.

The UK’s second largest lender, Abbey is responding to the news that Halifax reduced their mortgages by up to 0.35% last week. This is the first time in the last twelve months that competition for mortgage business has started to hot up.

Simon Tyler, Managing Director of Chase De Vere says: “After a massive drop in lending, the big banks and building societies are now extremely keen to lend funds to the right borrowers and, they will do it at extremely competitive rates. “Chase De Vere has access to some fantastic exclusive deals.

There are now real savings to be made by those looking to remortgage”.

21/08/08

Buying a Property in St John's Wood, London

Over the past 10 years St John's Wood has become increasingly popular with American families relocating to London who are drawn by its quiet leafy streets and green boundaries, its convenient location and the ever popular American School in London. St John's Wood estate agents - Paramount Properties - list exclusive apartments, villas, substantial semis, cottages, mansion blocks and modern property developments.

This prized north-west suburban enclave with its metropolitan vibe and village atmosphere attracts a vast number of senior executives from the financial world whose lives are made easier by the Jubilee line's direct route from St John's Wood to Canary Wharf, or by changing once on the underground, they can get to the financial heart of London in the City. The West End is less than two miles away.

The education of their children is always a concern for families moving internationally and the American School in London in Loudoun Road adds to the appeal of St John's Wood as an area of choice. The locals are impressed with the American kids who are lively yet well mannered and extremely sociable.

Regent's Park has a great jogging circuit and picnic areas, as well as tennis courts, boating lakes and an outdoor theatre. Lord's, the world's most famous cricket ground brings a very British feel to the area on match days when hoards of fans descend with picnic baskets, white slacks, blazers and panama hats!

If you are old enough to remember the zebra crossing cover on one of the Beatle's albums, you can recreate the photo yourself by going down to the famous Abbey Road Studios. Sir Paul McCartney has lived in the area for many years and is often seen browsing round the library in the High Street or the home made cake shop in Charlbert Street.

St John's Wood also boasts a boutique filled High Street, plenty of good newsagents with international publications, a family butchers on the High Street and a renowned fishmongers, Browns, on Charlbert Street.

Weather permitting many of the restaurants provide ‘al fresco' dining.

Buying Off-Plan Property Investments

Buying off-plan is a unique way of getting the most out of property investment.

Off-plan property is sold to investors before any actual structure exists, meaning that investors gain from the capital growth of the property during its development phase.

Buying off-plan is harder and more risky because there are more variables to the purchase process. The risk is higher, but so are the financial rewards.

The secret is to do your own due dilligence and manage the risks of property investment by:

• Larning about the potential risks
  
• Pre-vetting properties before they are offered in order to calculate current market values
  
• Getting rental estimates based on real current local market conditions
  
• Finding expert local legal advisers and finance providers
  
• Keep up with the local property sales and rental markets.

5 reasons to start investing in property today

1. Price: The sales price in almost every market has dropped substantially. When you combine the effects of short sales, foreclosures and bank owned properties with an already saturated market, this makes for a real steal for those that have a good game plan.

2. Inventory: Inventory is at an all time high in most markets, which only contributes to the falling prices, but also helps with selection. Investors should not only look at the sales price and appraised value, but they should look very carefully at the rental market in which they are selecting a home. Sometimes passing on a little equity to capitalize on a strong rental market can have both short term and long term benefits, also known as cash flow.

3. Interest Rates: Current economy conditions have pushed interest rates down to historical lows. Investors that are considering long term holds will benefit the most as interest rates and inflation increase over the next few years; so will the rents.

4. Seller Expectations: Most sellers including banks are now working harder than ever to move their properties. This not only translates into lower sales prices, but more concessions. Sellers are now willing to pay closing costs, help buy down the rate, or assist in paying for repairs.
5. Renters: As more and more individuals foreclose on their homes, the rental market will continue to increase. There are a number of individuals that bought the wrong home at the wrong time for the wrong amount and now they are upside down on their homes. Many of these homeowners have and will continue to simply foreclose. These new renters that have great income can and will be able to afford larger rental amounts.

Keep in mind that every market has a bottom; it is up to you to do the due diligence that leads to a successful real estate transaction.