Sell now and avoid extra VAT
The Government has announced that VAT will rise from 17.5 per cent to 20 per cent from January 4th 2011, and the increase will have a significant impact on sellers.
If people put their property on the market now they will have every chance of avoiding the VAT increase in January which will substantially affect their selling costs.
Once a sale has been agreed it takes on average 13 weeks for it to be finalised, so our advice is if they delay they will be paying significantly more.
The VAT increase will not only impact estate agency fees and conveyancing costs, but will also mean that surveys and land registry and search fees could be more expensive.
Both sellers and buyers should also bear in mind that from January next year the rise in VAT will mean that moving costs are likely to increase, so everything from hiring a removal van to redecorating or furnishing a new property will be more expensive.
The property market is extremely buoyant at the moment so it really is an excellent time to sell and we are finding that properties are moving very quickly.
Our advice is if you delay there could well be more to pay.
Labels: estate agency VAT; estate agency, estate agent, haart
Google’s new property search helps put your home on the map
Spicerhaart is one of the first estate agencies to sign up to Google’s new property search feature on Google Maps, giving customers a wealth of options when it comes to marketing their property online.
Viewers can search a local area using Google Maps, pinpoint the exact location of a property for sale with us and see what features are offered.
They can search on property price, whether it is for sale or rent, how many bedrooms and bathrooms it has, and whether it is detached, a semi or townhouse/unit.
By being one of the first to partner with Google’s property search, we can offer our customers so much more. Not only do they benefit from exposure on all the existing main property portals to which we subscribe, their properties will be seen by so many more people who search on Google.
As the most popular search engine in the UK, it will be so easy for people to pick the location where they want to live, then see the wealth of properties on offer in that area.
Andrew Foster, product manager for Google, says: "We know that many UK home buyers are already using Google Maps to help with their house-buying and renting decisions, especially driving directions and Street View. By making property listings available in Google Maps we can drive qualified buyers directly to listings.
"It's a simple and free way for property companies to make their listings even more discoverable, and have them seen on an easy-to-navigate map."
Labels: buy-to-let, Darlows, estate agency, estate agent, Felicity J Lord, haart, Haybrook, housing market, lettings, London property market, property market, Spicer McColl, Spicerhaart
Property market experiences post-election surge
With a coalition Government now in place and the election period over there is a reclaimed sense of stability in the housing market which has led to a surge of property coming onto our books.
It seems that confidence is returning with people no longer postponing their decision to buy and sell.
Since the formation of the new Government we have also experienced a flood of phone calls to our branches, plus a large increase in traffic to our website.
In particular, we are seeing a flurry of web-driven activity during the lunchtime period and between 7pm and 9.30pm. When we surveyed our customers recently, they told us one of the reasons they chose us to sell their property was because they can talk to us up to 10pm during the week.
Even the uncertainty over the future of Home Information Packs is failing to dent interest. Although the new Government has confirmed it will be scrapping them, it hasn’t yet announced the timescale to do so.
With the election behind us and the summer ahead, sellers now need to focus on smartening up their properties and making them stand out from the crowd.
For buyers, there are some good mortgage deals available and, with property prices rising again, it has never been a better time to get on or move up the property ladder.
Labels: buy-to-let, Darlows, estate agent, Felicity J Lord, haart, Haybrook, house prices, housing market, London property market, mortgages, property market, Spicer McColl, Spicerhaart
New stamp duty threshold is of national significance
The scrapping of stamp duty for first-time buyers who pay less than £250,000 for a property is set to strengthen the market.
First-time buyers are the lifeblood of the industry and the new stamp duty threshold will substantially increase the number coming onto the property market.
Already we have taken more enquiries from first-time buyers looking to get a foot on the property ladder. Although the average first-time buyer still needs a decent deposit before they can purchase a property, the fact that they no longer also have to save up one percent of the purchase price means that there will be many more properties available to them.
This new measure is of national significance and is good news for the industry and economy in general. It will particularly help those first-time buyers in London and the South East where property prices are generally much higher.
However large numbers of would-be first-time buyers are still being frozen out of the property market because they are unable to secure a deposit. We strongly believe the government should either help decrease the amount of deposit required or assist first-time buyers with securing funding through the Government-owned lending institutions.
Labels: estate agency, estate agent, estate agents, first time buyers, haart, housing market, properties, property market, property prices, Spicer McColl, Spicerhaart, stamp duty
Open House brings buyers flooding through the doors
Our new scheme aimed at creating a buzz amongst potential property buyers is proving to be a big hit.
With the new Open House initiative, vendors pay a one-off fee for a large-scale viewing event at their property. At one Open House this month, almost 30 potential purchasers visited a property for sale, leading to a winning offer of £14,000 over the asking price.
The events are arranged as soon as possible after the property goes on sale, with eye-catching flags flown outside the home on the day. Making an impact as soon as a property hits the market can be key to a swift sale and maximum interest from potential buyers.
The Open House events are part of a trio of Accelerated Marketing tools. Also included in the package is a minimum of a one quarter page advert in the seller’s local press.
Properties are also given a premium listing on the Rightmove website for as long as the property is on the market with us. Benefits include multiple photos of the property on the search page, an eye-catching background and a larger listing box.
Labels: estate agent, Felicity J Lord, haart, haart sales estate agent agency, Haybrook, housing market, properties, property market, property prices, Spicer McColl, Spicerhaart
Add value to your property this year
This year should see the gradual strengthening of the UK property market. Prime homes in prime locations always sell well, but there is a real shortage of better quality homes on the market so any work done has got to enhance the property. There are a number of things sellers can do to ensure their properties attract buyers and yield the best price.
Extensions and loft conversions, extra bedrooms and bathrooms, new kitchens, conservatories and creating off-road parking are all proven ways of increasing the value of a property, but there are also less expensive and invasive ways of ensuring a property is attractive to potential buyers.
Simple renovations can add value to a property. Re-decorating the outside and improving the garden will add instant curb-appeal. Light and airy properties are very attractive to buyers so decorate with light neutral colours. Dispose of clutter and if you are presenting your home to potential buyers remember to ‘stage’ it which will mean getting rid of too many personal items such as photographs and ornaments, ensuring that it is spotlessly clean, replacing old furniture with selected new items and carrying out basic repairs.
However, the cost of any home improvement must be in proportion to the value of the house. A lot of home improvements can be done without planning permission these days, but it is worth checking before the work starts. If you do have to apply for planning permission, allow for the costs involved and the extra time you'll need for permission to be granted.
There are a fewer number of properties coming on to the market at present and while this continues sellers have a great opportunity to obtain a higher price for their property and achieve a faster sale. However potential sellers should always consider the best ways they can add value to their property.
Labels: Darlows, estate agency, estate agent, estate agents, Felicity J Lord, haart, Haybrook, Spicer McColl, Spicerhaart
Buy before spring for the best property deals
January inevitably sees a rush of sellers looking to place their properties on the market and many clued-up buyers are also keen to buy before prices start to increase during the spring.
The key to success for buyers is to ensure their property stands out from the crowd in order to get the market value for their homes.
First impressions always count, and the recession has proved that this is truer than ever. The basic rules apply wherever you live, and a small amount of time and money can make all the difference.
For purchasers, it really is a buyers market. Realistic house prices, priced sensibly for a quick sale, can be a good investment – as long as you have a decent deposit to secure a mortgage deal.
In terms of types of property, because of the glut of new apartments on the market, it is those with family homes to sell in the region that will boom in 2010. This year should see a slow and gradual strengthening of the property market as well continued success in the lettings industry.
Labels: estate agency, estate agent, haart sales estate agent agency
Bonuses bring surge of activity to London property market
The return of bonus payments to city workers is leading to an increase in property transactions at the top end of the market.
It’s predicted that overall the bonuses paid could total £6 billion. We believe this will help sustain property prices rather than cause a bubble.
With many bonuses being paid in February and March next year, we’re looking forward to a confident Spring market in London.
Labels: city bonuses, estate agency, estate agent, estate agents, London property market
Property shortages in best areas drive up prices
A shortage of properties for sale in popular areas is leading to rapid price increases.
At £162,038 the average UK house price has now risen for six consecutive months but at the same time there are fewer houses on the market than at any time in the last year and a half.
We’re really encouraged to see prices continuing to rise month-on-month. But the lack of houses for sale is really making the current situation a sellers’ market.
This is particularly true in popular areas. These are often areas with things like sought-after schools, a selection of period properties or good transport links. Here we’re seeing sellers being able to demand even higher prices as the lack of properties for sale increases demand.
This is encouraging news for the housing market. We traditionally see extra activity in the run-up to Christmas and then a lot of movement in the Spring. We’re hoping this increase in demand for houses in popular areas will really help strengthen the market and improve confidence.
Labels: estate agency, estate agent, estate agents, haart, house prices
Perfect opportunity for first-time buyers to make their move
Now is the ideal time for first-time buyers to take the plunge and get their foot on the property ladder.
For a long time first-time buyers have struggled to get their foot on even the lowest rung of the property ladder, but now the tide has turned, and it is a great time for them to seriously consider buying a property.
There are some fantastic new mortgage products available at the moment specifically aimed at first-time buyers, property prices are much more realistic and the stamp duty threshold will remain low until Christmas.
It is important that first-time buyers thoroughly evaluate the amount of money they have available to put towards a property,research mortgage deals and familiarise themselves with the different types of loans available. They should also consider the type of property they require and what area they wish to live in.
We are certainly seeing more first-time buyers and are always happy to advise them on the best way forward.
Asking prices are significantly reduced, there are some excellent mortgage deals around and interest rates are low all of which are encouraging first time buyers.
Buying a first home is one of the most important steps anyone will ever take and now is a great time to take that step.
Labels: estate agency, estate agent, estate agents, first time buyers, FTBs, stamp duty
Festive season expected to drive buyer demand
Summer may have only just ended, but for many that means one thing; it's time to start planning for Christmas. With a recent survey showing half of shoppers have already begun buying presents, we are expecting to see a significant rise in people moving now to be settled by Christmas.
In addition, as the stamp duty holiday draws to a close, buyers will want to make the most of this golden opportunity for significant cash savings. With Christmas on its way, the money saved will no doubt come in handy for presents, decorations and festive food.
Our figures already show a 32% increase in the number of people looking for properties, which is likely to be due to stabilising market conditions and the extended stamp duty holiday. However, there continues to be a lack of supply.
If you are hoping to sell, now is an ideal time to come forward and help meet the increased demand created by buyers hoping to move by Christmas and capitalise on the stamp duty holiday.
Labels: estate agency, estate agent, properties, stamp duty
Property boom to beat tax whammy
With an increase in VAT and stamp duty coming into effect in the New Year, there is likely to be a rush to buy in order to beat the triple tax whammy.
As various hard-won tax concessions are being dropped and higher rates coming back into play, it will inevitably hit people in their pockets at a time when they need it least.
In the new year, buyers of properties under £175,000, who were previously exempt from stamp duty, will have to pay 1% on properties over £125,000 – which will add an extra £1,600 on the price of an average first time property of £160,000.
As more buyers become aware of this, the inevitable consequence will be a rush to buy, fuelling a mini-boom between now and the end of the year. If you are looking to sell your property, now is a perfect time to capitalise on the increasing number of buyers.
Labels: estate agency, estate agent, property auctions, stamp duty, VAT
Felicity J Lord gets set for growth
As mortgage lending is up, we are finding there is a shortage of properties for sale in the Capital and with prices reaching their current levels, we are gearing up for a surge of activity.
At Felicity J Lord we have just launched a fresh website, complete with a brand new online magazine depicting hot activities and top properties in London this summer. By refreshing the design of the website at www.fjlord.co.uk, it has become much easier for customers to use.
Each listed property has excellent quality sales details, many of which have floor plans and virtual tours, plus local information, maps and colour photos.
By offering such a vast range of services, we attract more people to view our customers’ properties which, in turn, helps boost their sale price and generate an excellent return on what is the most important investment people are ever likely to make.
Labels: estate agency, estate agent, Felicity J Lord
Opportunities for buyers increase as mortgage approvals rise
Figures have shown a steady rise in the number of mortgage approvals from the UK’s major banks over the last six months, which means now is an ideal time for buyers to capitalise on lower house prices.
With rising demand for rented accommodation and increasing competitiveness within the lettings market, exiting that market to become a homeowner is now even more appealing.
The rising number of mortgage approvals are a strong signal of future activity in the housing market, which is particularly good news for first-time buyers who have been negotiating the poor market conditions for months, trying to get a foot on the first rung of the ladder.
Ownership brings security and for this reason, will always be sought after. The increase in mortgage approvals will show buyers that despite the downturn, they are able to buy and lenders are willing to lend.
Now is the perfect time to take advantage of low property prices and invest in your future.
Labels: estate agency, estate agent, house prices, housing market, mortgages
Cash savings up for grabs thanks to stamp duty holiday extension
After plans to extend the stamp duty holiday were revealed in the recent budget announcement, ensure you make the most of a golden opportunity to make cash savings.
The extension of the stamp duty holiday will provide an extra incentive to buyers and will give a major boost to the property industry. There is no guarantee that the holiday will be extended after this period, so if you are in a position to buy, don’t wait.
The current system states that buyers must pay 1% of the property price in tax on homes worth £175,000-£250,000, with a 3% tax starting at £250,000 and a 4% tax on properties over £500,000. However, the new deal, which sees the stamp duty holiday extend from September 2009 until December 2009, could see you save up to £1,750 when purchasing properties up to the value of £175,000.
It is now cheaper to buy than rent in many cases and you should consider all your options. With prices now affordable for many, those with a mortgage offer or who have cash-ready funds should take advantage of the scheme.
Labels: estate agency, estate agent
