PLEASE NOTE THAT
FOLLOWING A MOVE OF MY HOME-OFFICE
THE TELEPHONE NUMBER
+44 (0)1792 463257
IS CHANGED TO
+44 (0)1792 468204 Â Â Â +44 (0)1792 468204 Â Â +44 (0)1792 468204
+44 (0)1792 468204 Â Â Â +44 (0)1792 468204 Â Â +44 (0)1792 468204
PLEASE NOTE THIS ON YOUR RECORDS
The Vegan Investments telephone number
remains unchanged on
+44 (0)1792 468200
I noted below on 04 April the cyclic trend that when property prices fall they do so in the cheaper areas first. High-end property retains its price level for longer. Conversely, when property price trends are returning upwards it is the high-end property that goes up first, followed by property in the lower price bands. There are separate cash flow equations for the different bands, of course.
Well, it is good news that the ebbing tide appears to have turned. An apartment in London W1 might today cost a cool £48million (yes, I did say £48million!) Investment in expensive London property has been increasingly the object of such a buying frenzy that investors have priced themselves out of a margin and are achieving low yields. “Perhaps 4%†was a figure reported to me last week. I also have it on recent report that an accidental Swansea landlord trying to sell his property and buy one in Bath is finding property prices rising faster in the relatively more expensive Bath area than they are here. The tide appears to be sweeping westward. I am noticing an apparent increase in London investors looking towards our part of the principality. We in Wales appear to be a couple of points above the bottom of the market according to Land Registry statistics and I believe this shall finally be sustained.
I have always been taught and repeated to others in response to the question: “When is a good time to buy property?†that the answer is always “Now!†Yet it is always a better proposition to buy, and easier to achieve during a market upturn. And the best time of all to choose to be looking at property of course, is in advance of one…
There’s a lot going on at present and I’ve little space for new clients, yet to update readers of this website, these are the property opportunities and leads I am dealing with at present:
REPOSESSIONS: I currently have two sources for repossession properties
PROBATE PROPERTIES/BULK PROPERTY DISPOSAL: I currently have two leads for bulk property disposal, and a separate lead that may nevertheless take me a little time to cultivate, but which offers the prospect of an ongoing opportunity to make offers on probate properties
BUSINESS TO BUSINESS/CONVERSION TO RESIDENTIAL: I have a contact for a small chain of commercial buildings that would typically suit conversion to business/residential
DEVELOPMENT PROPERTIES: I am looking at a couple of larger development properties for a client. It could be that as a result of the marketing effort process, further examples of these could become available for further clients if my workload and commitment to business in-hand permits
Please register your interest in the contact box below, and I will send you forms to return details of the types of properties you may be interested in.. Thank you
Error: Contact form not found.
1. Renovation properties
2. Purchases for cash buyer: criteria under £100k /central Swansea City/decent lettable condition or already let/ high yield.
Please contact Mike if you have or are able to put me in the direction of such properties
Thanks
I’ve just come back from fresh training that has opened my eyes to the new possibilities in the housing market for 2014 using a revolutionary new property sales and purchase model developed in Australia and the US but that came to the UK only more recently.
The point is that to sell your home on the High Street involves a singular approach. An Estate Agent puts a property for sale (against the competition from other Estate Agents) and if it doesn’t sell, the price is reduced. In fact this doesn’t bring in many more buyers to view your property. It just fuels competition for a downward spiral.
Look at the illustrative chart below and let us assume that a buyer needs a £25K mortgage deposit for your property priced at £100K. Reducing the price by £10K to £90K means the mortgage buyer still needs £22.5K deposit and this brings in only perhaps 5% more of the interested market in your property, which still moves slowly:
Are you in, or do you know someone in this position of having a slow moving property for sale? If so, get in touch with me, or ask them to get in touch with me, for I may be able to help.
In fact, lowering the price just means property prices on your street fall. Tight mortgage company conditions over the past five years have ensured this.
In extremis, vendors will sell at 70% – 75% market value. It is always said that 2% of the wealthiest individuals hold 80% of the funds. If you are willing to sell at 75% for an instant sale please contact me also for I have access to a database of cash-rich investor buyers in the current market who will put their money on the table and will approve properties very quickly on these terms.
Because such a small percentage of people have this amount of cash buying power, prices offered tend to be low.
But I have also just returned from my induction to become an agent for the largest rent-to-sell scheme in the UK, which, in principle can open up terms that suit the largest percentage of buyers, by making the threshold to entry on easy terms.
Think of it as a lease on a house that is like leasing a car. You pay for the car over a pre-arranged term then at the end of the term you can pay it off and own the car. The buyer can afford a better quality of car than if he or she had to dig into deep pockets to pay for the car on day one. This method is also more direct than haggling with the bank for hard-to-obtain funds.
Likewise, this is an easy way for many more home buyers to get into ownership and it has been given approval by the housing minister.
The scheme is regulated by the Property Ombudsman.
So if you are interested in putting your property onto this scheme or indeed, buying this way then please give me an exploratory call on 01792 463257.
Mike
Error: Contact form not found.