tag:blogger.com,1999:blog-56092584728172603082008-07-27T08:24:16.557-07:00The Property Investor DirectoryYour guide to the latest on property investor news, research, advice, and contacts on international property investmentPinoy_akonoreply@blogger.comBlogger97125tag:blogger.com,1999:blog-5609258472817260308.post-6310040736727125262008-04-29T09:48:00.000-07:002008-04-29T09:51:52.417-07:002008-04-29T09:51:52.417-07:00The secret agent: house sellers finally set realistic asking pricesThe secret agent: house sellers finally set realistic asking prices<br /><br />Our undercover pro is surprised to find that some sellers are finally getting real<br /><br />The landlord’s possession notice is taped to the door and the signs of a hasty exit are visible through the window: abandoned cheap office furniture, window displays offering overpriced homes still in situ and a few sets of property particulars scattered among the spent coffee cups on the floor. Yes, the first estate agent in town has folded. <span class="fullpost"><br />It was a cut-price outfit, linked to a cheap conveyancing firm that engineered its own quick exit at about the same time. The operators took the computers, along with what remained of their credibility, and the only people more delighted than the public to see the back of them are the other agents.<br /><br />To the experienced eye, all the signs were there: a cutback on advertising spend in the local property paper, ever more desperate commission deals, advertised on lurid Day-Glo card in the window, and the shrinking car and staff pool.<br /><br />“Good riddance, if you ask me,” says T, the assistant manager. “They had it coming.”<br /><br />There’s no love lost between agents, and, as the market hardens, so does the heart. A whitewashed window means a bigger share of the reduced pool of sensible sellers for the rest of us – and the commercial department gets to place its “to let” board above the facade. It’s the property combatant’s equivalent of the Red Army raising its flag above the Reichstag.<br /><br />“Do you think we should contact all their vendors?” asks S, the negotiator, naively. I reluctantly accede to the suggestion. The chances are that the owners’ expectations on price and commission will be wildly at odds with reality, but we might pick up a distress sale or two.<br /><br />A recent survey underpinned the extent to which sellers’ perceptions are still lagging behind actual prices achieved. It is tough out there, and buyers, especially those who know what they are doing, are driving hard – a point brought home to me that afternoon by a wily, long-in-the-tooth speculator who, like me, remembers the dark days of the early 1990s.<br /><br />“Nah, this place is still too dear,” he announces as we exit a grotty repossessed flat. As always, he’s on the lookout for a margin, and with the market in its current depressed state, is determined to drive a hard bargain. It doesn’t help that the dingy flat has a shrinking lease and high ground rent. Nor that, by the look of the outside elevation and communal areas, a hefty maintenance bill isn’t far away.<br /><br />“Let me know when they drop the price and settle up the service charges, then I might make a bid,” he continues. “But they won’t like it.” As we walk back to our cars – mine a mid-range rep-mobile, his a top-of-the-range Teutonic with a three-pointed star – he shares with me his views on buying strategies.<br /><br />“I don’t suppose he gave you a sensible bid?” T asks as I return from the appointment empty-handed. “Always buy when the blood’s on the streets, apparently,” I say, quoting back the speculator’s words of wisdom as F, the twit of a trainee, wanders past with toilet paper still clotted to his shaving cut. “And, despite views to the contrary, continue. There’s more bleeding to be done.”<br /><br />Later, at my last appointment of the day, I’m caught by surprise as a potential vendor requests a realistic price for a quick sale. He winces when I oblige, then shrugs acceptance. His plan is not dissimilar to that of the speculator – sell swiftly, then rent until the market bottoms before buying again. It’s a high-risk option, in my view, as you only know when prices have topped or tailed about three months after the event.<br /><br />“So, do you think it’s a good bet?” he asks as he hesitates over my sole-agency agreement. He might as well ask me for the winner of the first race at Chepstow, but, like all gamblers, he’s susceptible to hyperbole.<br /><br />His home is worth a punt for someone with a strong nerve, and for a second, I’m tempted myself. Instead, I ring my bookmaker – it’s probably a safer bet. <br /><br />From The Sunday Times<br />April 27, 2008<br /></span>Pinoy_akonoreply@blogger.comtag:blogger.com,1999:blog-5609258472817260308.post-36850626512921383022008-04-12T10:04:00.000-07:002008-04-12T10:20:44.527-07:002008-04-12T10:20:44.527-07:00REO TrainingDo you want to earn money? Do you consider yourself a good sales person? If you answer yes, then join one of the most promising business in the property sector...become an REO Agent! <span class="fullpost"><br /><br />Learn the easiest way to earn money, enroll into a </span><span class="fullpost"><a href="http://www.reorenegades.com/">REO Home Study Couse</a> and find a simple, detailed guide on how to get started earning money as an REO Agent. REO Reneagdes provides <a href="http://www.reorenegades.com/">REO Training</a> for you to deliver well. The training is comprehensive and would really help you a lot to succeed.<br /><br />The training also includes <a href="http://www.reorenegades.com/">How to Do REO Bank Owned Properties </a>, for you to be more equipped with knowledge in the property investment.<br /><br />What are you waiting... enroll now!<br /></span><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://www.reorenegades.com/images/houseImg.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 320px;" src="http://www.reorenegades.com/images/houseImg.jpg" alt="" border="0" /></a>Pinoy_akonoreply@blogger.comtag:blogger.com,1999:blog-5609258472817260308.post-67226776905109166412008-04-10T22:01:00.000-07:002008-04-10T22:19:11.480-07:002008-04-10T22:19:11.480-07:00MortagagesThe Federal Reserve cut the interest rates by .75%. This could be a great time to search for a <a href="http://www.4mortgageratequotes.com/">second mortgage</a>. When you <a href="http://www.4mortgageratequotes.com/">Refinance second mortgage</a> you are taking the equity built up in your house and you get that money back in cash.<br /><span class="fullpost"><br /><br />A popular method of using this cash it to consolidate other debts at a lower interest rate. <a href="http://www.4mortgageratequotes.com/">Refinancing a California mortgage</a> might be a little harder because the value of the houses have gone down significantly; so it's important to do your research like at <a href="http://www.4mortgageratequotes.com/">http://www.4mortgageratequotes.com/</a>.<br /><br /><a href="http://www.4mortgageratequotes.com/">Refinancing 2nd mortgage</a> is a great idea if you want to do a bathroom or kitchen upgrade too. Upgrades in the kitchen and in the bathroom are a great idea because, if done correctly, you can get almost all of your money back and will increase your home value. Second mortgages aren't for everyone so ensure that you are notdigging yourself into a lot of debt. If it makes economical sense, than a second mortgage can be very useful<br /><br /><a href="http://www.linkworth.com/" target="_blank"><img src="http://www.linkworth.com/images/linkpost_ref.gif" border="0" /></a><br /></span>Pinoy_akonoreply@blogger.comtag:blogger.com,1999:blog-5609258472817260308.post-1049973897774899222008-03-30T07:37:00.000-07:002008-04-10T22:18:41.464-07:002008-04-10T22:18:41.464-07:00reFinance<p>Refinancing is one of the most important thing in every people life. If you may want to start refinance your home for several reasons, you can start with <a href="http://www.refinance.com/">www.refinance.com</a>, one of the Low Rate Mortgage Refinancing Industry on the Net, which offer <a href="http://www.refinance.com/">home loans</a>, which is now able from many State. 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Maybe they switched jobs and therefore need to refinance their mortgage in order to make their monthly payments lower. No matter what people say, I’m sure it’s always a good idea to have more money in your pocket than less. Refinancing your mortgage might be a good idea in this situation.</p><p>Another good score for www.refinance.com is that no matter what your reason for bad credit, you can always achieve a <a href="http://www.refinance.com/">home refinance</a>. No matter what has happened to you, there is always a good reason to start saving money. So what are you waiting for, save your money and refinance your house with <a href="http://www.refinance.com/">www.refinance.com</a> <a href="http://www.linkworth.com/" target="_blank"><img src="http://www.linkworth.com/images/linkpost_ref.gif" border="0" /></a></p><p></p><br /><br /></span>Pinoy_akonoreply@blogger.comtag:blogger.com,1999:blog-5609258472817260308.post-18701146765655964942008-03-30T07:31:00.000-07:002008-03-30T07:35:46.043-07:002008-03-30T07:35:46.043-07:00Gate Operator<p><a href="http://www.gateoperator.net/">http://www.gateoperator.net/</a> sales highest quality equipment for both residential and commercial purposes at low wholesale rates for the past twenty years. 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These payments options make the payment process instant.<a href="http://www.linkworth.com/" target="_blank"><img src="http://www.linkworth.com/images/linkpost_ref.gif" border="0" /></a></span></p>Pinoy_akonoreply@blogger.comtag:blogger.com,1999:blog-5609258472817260308.post-63324005068414650112008-03-08T07:44:00.000-08:002008-03-20T22:39:44.134-07:002008-03-20T22:39:44.134-07:00Selling houses: Your house won't sell? No problemSelling houses: Your house won't sell? No problem<br /><br />if your property has been on the market but nobody's making offers, don't panic. Zoe Dare Hall meets the new house doctors<br /><br /># 'There's no such thing as an unimprovable home'<br /><br />In an ailing market, estate agents and companies offering "house doctor'' services are coming into their own, with a raft of remedies to help properties that have been on the market for months.<br /><br /><br /><span class="fullpost">Take Pad, a London-based house doctor service, which offers "cosmetic surgery", "facelifts" and "detoxes" for your home. "Clients pay on average just under one per cent of the property's value for our service and we haven't yet had a property that hasn't sold. In most cases, they make a profit which more than covers our costs," says Pad's interior designer Jo Wooler.<br /><br />One recent example was a one-bedroom loft apartment in a converted school in Victoria Park, East London, which was on the market for a year. "There were tenants on and off for six months so the flat looked tired and beaten up and wouldn't shift, even during a strong sellers' market last year," says Tim McBryde from Urban Spaces estate agency, which dropped the price from £430,000 to £399,950 but still couldn't find a buyer.<br /><br />Pad gave the flat a facelift, painting throughout, replacing old furniture with a select few new items, and over an open weekend two competing bidders pushed the sale price to £432,000.<br /><br />"Besides the usual decluttering, cleaning windows and repairing cracks, we create a social environment which shows purchasers how to live in the property," says Wooler, who is currently sprucing up a property developer's large two-bedroom garden flat in Crouch End, North London, which has stuck on the market for four months at £449,950.<br /><br /><p class="story2">"We zone living rooms and dining rooms with a fabulous dining table or U-shaped seating areas," she says. "Potential buyers are thinking that if there are hard times up ahead, they want a home where they can imagine entertaining their friends and feeling happy in." Helen Searle, a charity worker, was still struggling to sell her four-bedroom house in London after four months, so she hired Hampshire-based house doctors The Final Touch to partially re-carpet, redecorate, dress the roof terrace, update the kitchen cupboard doors, and clean and declutter - for a total cost of £3,565.</p><p class="story2">"We couldn't get any offers over £650,000 initially. A friend of ours had used a house doctor, so we decided to try the same. The house sold within three weeks in December for £665,000," says Helen, 38.</p><p class="story2">Simon Buhl-Davis, who runs Savills' new interior services, offers a house doctoring service that ranges from a three-hour report, costing £150, that gives the client a thorough breakdown on how to improve each room, to complete refurbishments that cost six figures, but can add up to 65 per cent to the property's value, as was recently the case with a Kensington townhouse.</p><p class="story2">But one-bedroom flats can similarly benefit from a bit of doctoring, says Buhl-Davis. "What we essentially do is liquidise and spoon-feed the lifestyle that the buyer could have if they buy that property - and that can apply to any kind of property. Everyone thinks they can be a developer or an interior designer in a rising market when properties are easy to sell, but when the market starts to stick, you need fresh eyes to tell you what's wrong. It's about selling lifestyles."</p><p class="story2"> So if you are struggling to sell your lifestyle, along with your home, do what the experts recommend.</p><p class="story2"><b>Top tips</b></p><p class="story2"> </p><table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr><td><li><span class="listory"><b>Drop the price</b> "There is only one reason why a property does not sell in anything but the depths of a recession, and that is price," says Trevor Abrahmsohn from Glentree International, the man who recently sold Britain's most expensive new-build house, Toprak Mansion in London's Bishops Avenue for £41m. "Price is the catalyst or inhibitor behind any sale. I brace my clients for a dose of the truth, but it is far better to know where they are in order for them to plan the next step. Overprice and you get lots of footfall but no offers." To price a house correctly, Abrahmsohn advises, choose three of the most active agents in your area who have set price precedents in the past few weeks or months. Tell the agent you want honest, realistic figures, then apply whatever margin to the asking price in excess of this figure, depending how urgent the sale is. </span></li><p class="story2"> </p><li><span class="listory"><b>Curb appeal</b> Don't focus all your efforts on the inside; remember that first impressions are created as prospective buyers approach the building. "Tidy the garden, trim hedges, weed flower beds, plant a few conspicuous shrubs so that it looks well-kept and, above all, cut the lawn," says Trevor Abrahmsohn. </span></li><p class="story2"> </p><li><span class="listory"><b>Declutter</b> Ask a friend who has not seen your property for a while to advise on what to hide or throw, as their eyes aren't clouded by familiarity. And we're not just talking about inanimate possessions. "Children and dogs don't sell properties, so make them scarce," says Paul Edgington from Connells.</span></li><li><span class="listory"><b>Don't stuff everything into cupboards</b>, says Rupert Sweeting from Knight Frank. "You will never find anything and lots of potential buyers like a good snoop around and will want to open every single cupboard they can see to get a sense of the storage space available."</span></li><li><span class="listory"><b>Move out spare furniture from the bedroom</b> and cover the bed with an attractive bedspread. But don't turn rooms into a barren space as they can look surprisingly small when empty. It's also harder for a buyer to imagine what the house will look like furnished</span></li><p class="story2"> </p><li><span class="listory"><b>Definition</b> Make sure each room is kitted out for the purpose it is intended for - so bedrooms should look like bedrooms, not store rooms.</span></li><li><span class="listory"><b>Create an appealing social environment</b> It's not always about decluttering; sometimes the opposite is required, installing new furniture to give prospective buyers an impression of how they would live in the property.</span></li><li><span class="listory"><b>Bring in the professionals</b> "We come in and give a place a quick fix - a good clear out, facelift and blitz," says Suzy Maas from The Final Touch. "We're seeing a lot of desperate people coming to us because they've already reduced the price and just can't sell. Most people opt for smaller jobs, which take a couple of weeks from meeting the client to finishing." </span></li><li><span class="listory"><b>Do basic repairs</b> Go through each room and do any minor jobs you can see would improve the finish at little expense, such as touching up paintwork, filling cracks, regrouting, straightening cupboard doors, replacing/polishing door handles. Clean the windows. Reseal around the bath, sinks and shower and remove any mould. "It's important to complete all running repairs - mend dripping taps, cracked panes of glass and peeling wallpaper," says Rupert Sweeting from Knight Frank.</span></li><li><span class="listory"><b>Clean</b>, then clean again. Make sure everywhere is spotless, particularly bathrooms and kitchens.</span></li><li><span class="listory"><b>When to redecorate?</b> If the property is being sold for development or as a shell, there is no point tidying or painting. But if it is a potential family home that is looking a little shabby, then clean thoroughly and air the house - especially when there are pets - paint tired areas and replace carpet where necessary. Bright, neutral, clean and uncluttered properties are most appealing to the broadest range of prospective buyers. </span></li><li><span class="listory"><b>Don't spend money on expensive improvements</b> - new carpets throughout, new bathroom or kitchen, says Rupert Sweeting. "Don't redecorate any room using strong colours - and don't redecorate one room splendidly and leave the rest looking tired." Kerrie Keeling, who runs the all-female building/decorating company A Woman's Touch, says she is receiving a lot of pre-spring requests for redecorating properties in order to put them on the market. "People are rapidly trying to make their properties more palatable to a broader range of sellers without having to drop the price. The most common request among sellers at the moment is to replace carpets with laminate floors." </span></li><li><span class="listory"><b>Don't overdo it</b> Too colourful is bad - but so is too bland, says Simon Buhl-Davis. "People tend to personalise their properties too much, thinking that everyone will share their taste, but they often won't. So try to tone down the excesses where possible."</span></li><p class="story2"> </p><li><span class="listory"><b>Don't apologise for your home's appearance to viewers</b> - you have lived there happily (presumably), so there is no reason to make excuses. Leave the agent to handle any objections from potential buyers.</span></li><li><span class="listory"><b>And finally....</b> Be patient, don't panic and don't give up. Accept that the time taken to sell properties has increased - Hometrack puts the figure at 8.5 weeks - and persistence will pay off.</span></li><li><span class="listory">Pad, <a target="external" href="http://www.padoflondon.com/" lang="en.uk">www.padoflondon.com,</a> 0845 388 0380. The Final Touch, <a target="external" href="http://www.thefinaltouch.co.uk/" lang="en.uk">www.thefinaltouch.co.uk</a>, 01590 624 630. A Woman's Touch, <a target="external" href="http://www.awomanstouch.org.uk/" lang="en.uk">www.awomanstouch.org.uk</a>, 0207 167 2124. </span></li></td></tr></tbody></table></span><br /><br />Source: http://www.telegraph.co.uk<br /><br /><script type="text/javascript"><!-- google_ad_client = "pub-5648541637576090"; /* 336x280, created 3/20/08 */ google_ad_slot = "3193041571"; google_ad_width = 336; google_ad_height = 280; //--><br /></script><br /><script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"><br /></script>Pinoy_akonoreply@blogger.comtag:blogger.com,1999:blog-5609258472817260308.post-79512668842171284412008-01-26T23:50:00.000-08:002008-01-26T23:52:24.104-08:002008-01-26T23:52:24.104-08:00Celebrity investors defy property fears with launch of new fundCelebrity investors defy property fears with launch of new fund <br />By Simon Evans<br />Sunday, 27 January 2008<br /><br />Commercial property group Active Asset Management (aAIM), which counts Manchester United manager Alex Ferguson as an investor and shareholder, is this week expected to unveil plans to launch a new fund, defying concerns about a downturn in property markets. <br /><span class="fullpost">The group, which invests on behalf of celebrity clients including X Factor judge Simon Cowell and a number of footballers such as Newcastle United's Alan Smith and Aston Villa's Gareth Barry, will seek to raise investment for a commercial offering just months after it launched a £400m fund to take advantage of falling property prices. <br /><br />The company is led by entrepreneur Robert Whitton and has more than £2bn worth of property assets under management.<br /><br />Unlike mainstream property funds, investors in aAIM vehicles are typically asked to invest for a minimum of around five years. It means the group hasn't suffered the rash of withdrawals that have affected other high-profile property funds such as New Star's. Last week the company said it had seen more than £500m worth of property assets redeemed since June last year.<br /><br />A number of fund management groups are expected to stop investors redeeming cash in order to stem outflows, with Norwich Union mooted likely to put a freeze on withdrawals for small savers anytime soon. <br /><br />Grant Bovey, founder of the buy-to-let property group Imagine Homes, told The Independent on Sunday that he believed the general hysteria surrounding property markets was massively overblown.<br /><br />"Sure, things aren't easy but in 12 months' time the market will have forgotten about this," said Mr Bovey. "I can only speak about what I see and January has proved to be a really good month for us. Like-for-like sales are 20 per cent up on the same time last year. When we came back after the Christmas break, I was wary like everyone else, but it has been a good month so far. We haven't any lost completions."<br /><br />He added: "If things were as bad as people are saying then we'd be seeing the major house- builders trying to sell off a lot more properties. We haven't seen that because they aren't panicking. We sold a flat in Chelsea last week worth more than £5m, and we saw a property go in Richmond Lock for £4.9m. There is appetite out there."<br /><br />Source: http://www.independent.co.uk<br /></span>Pinoy_akonoreply@blogger.comtag:blogger.com,1999:blog-5609258472817260308.post-78873023906898565982008-01-21T03:12:00.000-08:002008-01-21T03:16:57.091-08:002008-01-21T03:16:57.091-08:00House price drop is already tempting buyersHouse price drop is already tempting buyers<br />By Emma Thelwell<br />www.telegraph.co.uk<br /><br />The third consecutive monthly drop in UK house prices is beginning to coax some buyers and bargain hunters alike back to the housing market, property website Rightmove said today.<br /><br />The website, which advertises property online for around 90pc of the UK's estate agents, said average prices in January dipped 0.8pc, following December's drop of 3.2pc.<br /><span class="fullpost"><br />In a further blow for sellers, Rightmove reported that this month's decrease has pulled the annual rate of growth down from 4.8pc to 3.4pc - the lowest year-on-year figure for two years, mirroring the 2005 property market downturn.<br /><br />However, the group said the continued fall in prices had encouraged buyer activity, with clear evidence of a marked increase in activity immediately after the New Year. <br /><br />Miles Shipside, commercial director at Rightmove, said: "Some homebuyers are now able to find properties that have fallen into their affordability zone, and are bagging what they see as bargains against previous prices.<br /><br />"Some properties have had their prices dropped by 10pc or more and are now within reach, satisfying some of the pent-up demand from previously disenfranchised buyers."<br /><br />Buyers have a wider choice too, with the number of property on estate agents' books up by 20pc compared with this time last year.<br /><br />Meanwhile, the average time on the market - which peaked at a record high of 98 days in December - fell back to 95 days in January.<br /><br />Mr Shipside said: "Enough sellers seem to have dropped their prices to encourage potential buyers to look in larger numbers, suggesting we might see a more active market at this lower price level.<br /><br />"Some sellers will no doubt be tempted to test the market a higher price with the onset of spring, so now is a good time for bargain hunters to press those committed winter sellers for a deal."<br /><br />Rightmove noted that more than 28,000 properties came onto the market in the first full week of January, and estimated that December's price fall was encouraged by those rushing to beat the HIP deadline.<br /><br />The group said: "The final HIPs deadline for two or fewer bedroom properties boosting listings in mid-December. This HIP avoiding surge exacerbated the price fall by around 0.7pc as they tended to be cheaper-than-average properties making up a greater proportion of the new listing mix."<br /><br />Average house prices now stand at £230,428 across the UK, down £1,968 over January.<br /><br />Rightmove reported that London property however, enjoyed a further rise of 3.6pc during the first month of the 2008, with Hammersmith and Fulham, and Hounslow, the only boroughs recording a fall.<br /><br />The property website confirmed its forecast for the year of flat prices, but said affordability should continue to improve as average wages rise and interest rates fall.<br /><br />Source: www.telegraph.co.uk<br /></span>Pinoy_akonoreply@blogger.comtag:blogger.com,1999:blog-5609258472817260308.post-90535198055771526852008-01-17T21:31:00.000-08:002008-01-19T20:52:57.729-08:002008-01-19T20:52:57.729-08:00How to beat a property market slowdown<span style="FONT-WEIGHT: bold">How to beat a property market slowdown<br /><br /></span><span style="FONT-STYLE: italic">The market is cooling; mortgage lenders are getting meaner. But learn the rules and the slowdown could work to your advantage<br /><br /></span>Lorna Blackwood, Judith Heywood and Rebecca O'Connor<br /><span class="fullpost"><br />First foot on the <a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://www.kevscartoons.com/images/illustration/childrens/meysen_3LittlePigs_brick.jpg"><img style="FLOAT: left; MARGIN: 0pt 10px 10px 0pt; WIDTH: 200px; CURSOR: pointer" alt="" src="http://www.kevscartoons.com/images/illustration/childrens/meysen_3LittlePigs_brick.jpg" border="0" /></a>ladder<br />A market slowdown and falling prices in some areas should present opportunities for first-time buyers. According to the Halifax, the average first-time buyer property dropped in price by 4.46 per cent in the last six months of 2007 and further decreases are likely.<br /><br />However, aspiring owner-occupiers will be constrained by difficulties in obtaining mortgages. Those who have saved up only a smallish deposit, for example, just 5 per cent of the purchase price, may find it particularly hard to get a loan. It is still possible to get a 100 per cent mortgage, but the rates will be higher than a year ago. But, as Richard Morea, technical manager of the mortgage broker London &amp; Country, points out, fixed-rate deals could become less expensive later this year, as the London Interbank Offered Rate (Libor), which determines the level of fixed-rate loan prices, starts to decline.<br /><br />Reduce your outgoings. Think about taking out an interest-only mortgage for the first couple of years. Or make repayments cheaper by taking out a 30 or 35-year loan. Generational subsidy could be the answer: persuade your parents to be guarantors for the loan, or ask if they will lend you a deposit that can be returned to them when you sell.<br /><br />Learn to negotiate. Hometrack reports that selling prices are on average 6 per cent below asking prices. But Kevin Shaw, the national operations director of Spicerhaart estate agents, advises: “You still don't want to upset the seller by offering too low. People are going in at about £10,000 under the asking price, then negotiating a sale.”<br /><br />New-build could be risky. A slowing market is not kind to developers. They have been left with new-build stock amp;#33;that they failed to sell last year; many are now offering good incentives or price discounts. But you should beware the pitfalls outlined below.<br /><br />Do not overstretch yourself. Remember that you are buying a home rather than trying to make a killing. Prices are forecast to remain flat this year with falls in some places. This may also be the trend for next year.amp;#35;<br /><br />One step up<br /><br />Are you hoping to move up the ladder into a larger, family-size home? Or a better area? Are you prepared for the new niggardly attitude of mortgage lenders, and also for sellers who refuse to budge on price? These are the strategies that you should consider.<br /><br />Be realistic. Your one-bedroom apartment in an Edwardian mansion block may have been valued at £300,000 three months ago, but now is the time to consider a lower offer. Richard Cotton, of Cluttons, says: “You're buying and selling in the same market, so it balances out.”<br /><br />Caution is the best policy. Do not hold out for a higher offer for your home if you already have a firm offer on the table. Ensure that you know how much you can borrow before you start shopping for a new home. If you can prove that your mortgage is already agreed this may impress a seller more than a vague promise of funds.<br /><br />Get a move on. You might not want to act until you are certain you can afford a new place, but steel your nerves. Carl Davenport, of Chesterton, says: “If you market your home only after you have found the one you want to buy, the deal may fall through while you're waiting.”<br /><br />Be optimistic. The better homes you have your eye on might seem overpriced, but Richard Cotton says: “In a booming market the gap between lower and higher value properties gets larger. As it slows, this might reverse and create opportunities. Plus there is a shortage of applicants. You don't have to do much as a buyer to get VIP treatment from agents.”<br /><br />Original features rock. New-build flats are among those most vulnerable to price falls, particularly in city centres where there has been a glut of construction - see our story on page 27. Former council properties could also be shaky. In a stagnant market, buyers are likely to shun lookalike boxes in favour of homes with character and original features. Building for Life lists criteria for judging the quality of a property: see www.buildingforlife.org.<br /><br />The next rung<br /><br />You might hanker for a home on that nicer road, but be ready for disappointment. Prime property - priced above £1 million - has outperformed the rest of the market for more than a year and, despite signs of slowdown, the party is likely to last some time yet. If you have a substantial home but want to upgrade, you could face tough competition.<br /><br />Get your loan organised. Carl Davenport, of Chesterton, says: “Buyers looking at £1million-plus homes do not mess about.” Cliff Gardiner, of the Buying Solution, adds: “Unless you are in a cash-rich position, you are not going anywhere.”<br /><br />Buy quality. A stagnating market is not one in which to take a punt on an area being the next hot spot. Jeremy Leaf, of RICS, says: “You don't want to be stuck with something that ends up being the next worst thing, rather than the next best thing.” Choose the property carefully. Gardiner says: “You have got to tick more boxes in this market to ensure that you are protected.”<br /><br />Improve with care. For many people, extending and converting their property is cheaper than the double bill of a larger home and stamp duty. And, as Gardiner reminds us: “These days everyone calculates price by square footage. The more you have, the more you get.” But get it right. Cotton cautions: “Improvements can be risky in the current market. You don't want to be making mistakes on design or specification.”<br /><br />Never let go. If leaving the UK, keep your foothold in the property world. A difficult year may lie ahead, but that doesn't mean you will find it possible to buy a home when you return. As Cotton says: “Always, always, always let out your property, never sell. It is a golden rule.”<br /><br />Take a rain check. There are signs that even jetsetters or big-bonus boys are not immune to house price fears. Davenport says: “Think about delaying buying until the international buyers have decided the market has reached a peak and the market has started to wobble.”<br /><br />One step down<br /><br />Selling a large family home and buying a smaller property is a difficult venture. Nicola Oddy, of the buying agent Stacks in Cornwall, says: “There is huge competition. Whereas it used to be just down-sizers and second-home buyers, it has spread to first-time buyers and young families, priced out of other areas and pushing prices up.”<br /><br />Plan ahead. Don't leave your preparations until you are desperate to move. For one thing, your current home may take longer to sell than you think. Take time to consult your family if there are emotional or money issues to resolve.<br /><br />Get advice. Find a solicitor and an estate agent you trust. Nicola Oddy says that many of her clients are divorced or widowed. “Previously they weren't the one who dealt with the financial side and so this is new to them.”<br /><br />Check that the move is financially viable. Selling your home may be a way to release capital but the income from this may not be sufficient for your needs.<br /><br />Location is everything. If you have young children, find out if there are good secondary as well as primary schools in the area. Most older people seek peace and quiet, with no neighbours. But what if you fall ill and need help?<br /><br />Keep to your criteria. Ms Oddy says: “Most people are moving from their family home with a lot of memories and time spent there. Don't be tempted by something more expensive and larger than you need.”<br /><br />Think outside the box. Nicola Oddy had clients who rejected an ideal house that was way under their budget because the garden was too big. Her solution: hire a gardener with the money saved.<br /><br /><br /><br />Source: http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article3204213.ece<br /></span>Pinoy_akonoreply@blogger.comtag:blogger.com,1999:blog-5609258472817260308.post-69784729317348183942008-01-17T04:21:00.000-08:002008-01-19T20:51:25.394-08:002008-01-19T20:51:25.394-08:00Farrers taps Trowers for property practice boostFarrers taps Trowers for property practice boost<br /><br />City law firm Farrer &amp; Co has bagged a new partner taking Carrie Faller from Trowers &amp; Hamlins to boost its property practice.<br /><br />Faller, who joins Farrers on 14 January, sat in Trowers’ commercial property practice, where she was a partner.<br /><br />She has experience in working on property investment, joint ventures, waste management and mineral extraction and private finance initiative projects. Her arrival means Farrers now has five dedicated property partners.<span class="fullpost"><br /><br />Faller qualified at Gouldens — now Jones Day — before becoming a partner in 1989.<br />Farrers head of property James Furber said: “The growth in our commercial property work has seen the need to expand rather more quickly than our usual organic growth, by the recruitment of select practitioners. Faller is well-known to members of the team who have worked with her on projects over the past 20 years or so.”<br /><br />The move comes a year after Farrers secured the appointment of high-profile town planning lawyer Pat Thomas as a consultant in its commercial property team.<br /><br />Thomas previously spent 18 years at SJ Berwin where she was the partner responsible for establishing its planning and environment practice. She left the firm in 2006 to take up a three-month consultancy role for an advisory body at national regeneration agency English Partnerships.<br /><br />Farrers recently named Cushman &amp; Wakefield European counsel Ben Bennett as its new chief operating officer, in a newly-created role at the firm.</span>Pinoy_akonoreply@blogger.comtag:blogger.com,1999:blog-5609258472817260308.post-2523554020108901422008-01-17T04:14:00.000-08:002008-03-20T16:07:51.724-07:002008-03-20T16:07:51.724-07:00Relocation AgentsYour Guide to Relocation Agents<br /><br /><a href="http://www.housesmover.com/" title="House Movers Professional Movers" target="_blank">House Movers Professional Movers</a><br />Find professionals movers in you area. Find a moving company near you. 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