Archive for the ‘Homes for sale’ Category

Homeowners sell their properties on average every 6 years. What are the reasons? To some, that seems figure seems incredible. Many people stay in the same property all their life. The reasons they move are wide and varied.

1. The home has become too small for the family.

When a young couple buy their first home, they do inevitably grow as a family, and all to soon have need for extra space. Their starter home just isn’t big enough any more, and they need an extra room (or two.)

2. Upgrade.

There’s always a nicer property just around the corner - it’s what we aspire to and we all have ambitions. It’s fun to look and dream and chase our goals.

3.  Things that don’t quite fit.

Maybe there’s something with the home that annoys them. Is it the neighbours? Perhaps there’s no off-street parking. Many sales are because the selller wants to change the things that aren’t quite right for them - maybe there lifestyles have changed and they do need a back garden after all, or the train that rumbles past every hour just can’t be tolerated anymore!

4. Change of job.

One of the most common reasons is a change of job, and a transfer to another city. Sometimes the distance to commute to work is just too far - most people won’t tolerate more than an hour in the car or on the train - that’s an hour in bed your missing there!

5. Change in relationship

Relationships can always have an effect on where you are and where your going. Moving in or moving out often relates to where you are with your love life.

6. Change in neighbourhood

The neighbourhood may have changed for the worse. Over time they do evolve socially and economically - you can see it in the different areas around your local town. Maybe there has been a major road run by your property, or the local council has decided to build a brand new airport through your garden.

7. The kids have moved on.

Another common reason for selling - the house has become too big - and people are downsizing. The older you get, the bigger effort it becomes to keep that large house clean, and all those extra rooms.

8. Seeing family more often.

We often don’t see family as much as we could, or want to. As we age we like to spend more time with relatives that we haven’t spent enough time with. Grandparents want to see their grandchildren.

9. See family less often

There’s the other side to the coin as well - maybe a little space between family gives them time to reconsider, relax, and get a new perspective on relatives.

10. Retirement

When you retire, you want to be with like minded individuals - and people of the same age. Older communties flourish and have all the amenities that are desirable, golf courses, club houses etc. All designed to appeal to the over 55 age group.

11. Physical changes

Health can affect how we live and where we choose to be. We don’t want to be climbing stairs every day as we get older.

12. Rennovations

Some people don’t want the hassle of undertaking major rennovations to the house that are required. It’s easier to sell and let someone who enjoys a challenge take it on. The life of most wiring and piping in the average home lasts about 15 years - sometimes it’s easier to sell before you need to get involved!

13. Job done!

Some people take on a property to fix it up, sell and make a profit. When it’s done, there’s nothing left to do..but sell! It’s on to the next property, and the next rennovation.

14. Equity release

There’s a lot of money in that house - and it’s all tied up and no-one’s using it! Sometimes it hard to resist using all that money you’ve ‘earned’ from paying off that mortgage all these years, whilst property prices have been rocketing. Why not take advantage of your shrewd buy, and move on up the property ladder?

15. Realising your dreams.

At a certain age, owning a home seems less inportant than it was when you were in your twenties or thirties. There’s a world out there that you haven’t seen enough of, and it’s time to get out there and do all those things that you’ve wanted to do for years. Sell the property, take the cash and go and do all those things that you’ve been dreaming of.

For more details on using this site and answers to your questions, Click Here.

When looking to sell your house quick, it’s a good idea to take note of current trends in interior design - old and new.

Trends come and go pretty quickly - so keep your eye on the ball when your looking to show your house to potential buyers. Gaudy old-fashioned wallpaper can be a deal breaker!

The following are a few mistakes to look out for when gearing up to put your property on the market.

Super Small

Trying to sell a small house can be difficult - so what can you do? If you can’t afford to start building up new extensions or knocking down old walls, than move out all the furniture you think may be cramping your house’s style. Do everything you can to make the house look as big as possible, and you’ll be on your way.

Lack of Bathrooms

Only one bathroom? It’s a tricky one. We don’t want to wait to get in there, and it can be an issue. Is there another room you can convert?

Do you need Air Conditioning?

In the U.S., air conditioning is a great selling point. It will cost you around $10,000 - but is worth every penny.

Electrics

How are your electrics looking? Do you need to get an electrician in to check up on your house’s electrics? It would be a good idea to have a qualified electrician to come in and check all your interior wiring. People expect modern wiring in all homes, so modernize all your electrics and replace old fuseboxes etc.

Staircases

How are yours looking - and sounding? Are they creaking as you walk up them? You’d better replace that spiral staircase too. Have you ever attempted to carry a kingsize bed up a spiral staircase? Hard work. You may want to have it replaced.

Basements

What’s in yours? Do you have a creative space or a dark and damp room reminiscent of a spooky movie? It’s time to sort it out! Maybe this is the space where you go on cold winters nights to do the washing? If so, it’s time to move the old machine back upstairs. And while you’re at it - think about changing the machine. Can you brighten up the basement? Be creative. Look at interior design magazines and be inspired. This is an opportunity for you to create a selling point for your property.

Ceilings

How are yours looking? If you have any of those foam tiles - it’s time to get rid of them. This is not 1976, and your trying to sell a modern home.

Annoyances

Think as a buyer: is there anything in your home that irritates you? It’s a cold winter’s night, and you get home in the pouring rain. As usual, your key gets stuck in the lock. Time for a replacement. Maybe the door squeeks? Is there an old mat you need to replace? Is the front door looking tired? The garden? Take yourself on the journey through your home, and run through the route that you will take when showing people around. Invite friends in for suggestions.

To see what’s on for sale in your area (and what the current trends are in decor) Click Here for the ‘Search’ menu.

As the fall in U.S. house prices seems to be slowing down, house buyers are now returning to the market, and house prices are at long last stabilising.

New figures coming in from the U.S are generating hope that after months of torrid real estate news, the market is now seeing a very real turning point - several U.S cities are reporting price increases, including Chicago, Denver, Cleveland and San Franciso. For the first time since the start of 2007, 20 major cities in the U.S are reporting flat figures, instead of declining prices - potentially a major breakthrough.

Many major networks and commentators now believe the bottom has been reached - sales of existing homes rose for the 3rd consecutive month, while sales of new homes rose by the largest volume in 8 years.

Progress is not without its doubters though - unemployment and rising foreclosures could stub out any potential recovery. Some speculate that any movement in the current market is being driven by investors buying bargains, though the new home sale figures would suggest otherwise.

Home Sales Figures

Many buyers in the market are now acquiring homes that 3 years ago, were double the price.

The new Case-Shiller Index (which tracks home sales in the U.S.) showed that the decline in home sales has eased over the last two months - sales are still declining, but at a slower pace. A step in the right direction, albeit a cautionary one. The figures also revealed that over a 20 city average, house prices has increased over half a precent - the first month on month increase in over two years. It seems very possible now that April 2009 will be remembered as the bottom of the housing market. Sentiments in the U.K are reflecting a similar optimism, with many reporting a renewed interest in property purchasing.

There are numerous incentives available in several countries, with the U.S and Australia offering financial deals to first time buyers to help instigate changes (in the U.S.) and keep the market buoyant (in Australia).

Homes For Sale - Foreclosures

Foreclosures continue to represent a third of homes sales - which may well be acting as a misleading numercial factor. Communities where foreclosures remain at high levels, are still not registering any increases in homes values - Las Vegas for example, where prices have fallen a third this year. Major Cities, like New York and London, will inevitably maintain high levels of demand, and be some of the first to recognise a turn in the market. When these cities report increasing sales, we will no doubt see home sales nationally return to the leverls of demand we have witnessed over the last decade.

In this uncertain market, it’s often difficult to judge a good price for your property that will attract the right investor and create a win-win situation. Relators and estate agents very wildly in a sound market when making judgements on a house value - in this uneven market, the task becomes even more trying. Asking several agents what they think your home is worth is the best answer, and of course doing your own research. Become an expert in what is selling in your neighbourhood, and note how long they have been on the market. You’ll find out what is selling, and what’s been on the market for too long.

The best advice is to take your time checking your neighbourhood out, and do searches online to find out what home are for sale in your market.

To search your local market, Click Here.

The U.S has seen a massive jump in home sales in June, up 11%, the largest increase in eight years.

The new figures are giving hope to the public that the market has seen it’s first glimpses of recovery.

The US Commerce department revealed figures yesterday showing that there were 384,000 sales last month, a dramatic increase in sales not seen since 2000.

There is currently the lowest level of housing available since October 2007 - an amount of unsold homes that would take 8.8 months to sell.

Levelling Out

Prices are set to continue to fall for the forseeable future, though many economists are predicting a bottoming out over the next 3 to 6 months. Building stocks jumped at the news of a possible housing recovery, and have been building at new levels - the most since september.

The Department of Commerce in the U.S stated that the good news for home sales reflected a new sentiment in the market, and there was good news ‘across the board’, the kind that was indicative of a recovery.

Standard Pacific, one of the US homebuilders reporting a stabilisation in demand and sales, is based in California, which has seen some of the most turbulent declines in homes sales in the U.S.

To see what homes are for sale in your local area, Click Here.

More good news this week from America’s N.A.R. (National Association of Realtors) - housing sales are up for a third straight month, and prices remain low.

This week’s news adds more fuel to the fires of the positive housing posse - building contractor’s confidence is up after an unexpectedly good start to homes being sold june. There is a fascinating undercurrent to the market now many may not have considered. In an unusual move, many banks which have taken back homes which have been repossessed in the U.S., are being held onto the banks who would normally place the property up for sale as soon as possible.

Home Price Reductions

These properties are called REO properties (Real Estate Owned) are being held off the market by the banks in order to avoid excessive flooding of the market with underpriced homes - placing further downward pressure on the market and house prices. Putting all REO homes onto the market would force the banks and other corporations to accept even further price reductions to get the properties off their books.

Just how many properties are their that are being held back? Some estimates gauge the figure at around 700,000.

Foreclosed Properties

Investors are currently returning to the market and buying up most foreclosed properties - these are in turn being rented out and driving down rental values, as would-be tennants have more and more choices in the market. This is in turn having a negative affect on the building contractors who are constructing entry-level homes for young buyers.

Current predictions are that there will be 6.5 million foreclosures in the U.S over the next 3 years.

The market is white hot right now for investors looking for the best buying opportunities in years. Click here to research your local market.

Australia continues to enjoy a buoyant property market, and is still showing stability and offering excellent property buying opportunities.

Whilst the rest if Europe is conituining to suffer, Australia is seemingly unaffected by the global recession, with house prices losing only a fraction of their value over the last 12 months. In the December quarter, house prices fell a mere 0.8%, with Adelaide and Darwin remaining unchanged. Melbourne recorded the biggest drop in the average house value, at 1.7%, and Brisbane dropping 1.2%. Sydney’s fell by only 0.3%, whilst Hobart fell 1%. Fascinating figures, when compared the U.K and U.S., with the U.S continuing to witness extreme downward pressure on the nedian house price via increasing foreclosure sales.

While houses prices in Australia have receded slightly over the last quarter, it has to be noted that the slight wobble in prices has been modest. Australia’s economy has proven it’s robustness and sound business fundamentals over the last 12 months, and prognostications from most quarters remain positive.

For first time buyers in Australia, the outlook remains defiantly upbeat. With the lowest interest rates in years, and the First Home Owner Grant as a fillip for young investors, the property market looks a great place to be. Many are expecting this year and next to continue to look encouraging, and a revival in purchases of property to increase throughout the year.

For Homes for Sale in Australia, click here.

Recent statistics reveal that house prices in London saw a modest upturn in May

The average price for a home was up 0.3% last month, equating to an increase of £3,500, research from primelocation showed. Year on year sales are down slightly from May 2008, down 2.4%. London prices remain relatively high, as demand is still great in the country’s capital, regardless of the lack of available credit. Once the banks’ credit lines have been relaxed and credit becomes available again to borrowers, expect to see the floodgates opening up and prices shooting upwards. Many expect the beginning of 2010 to be a very distinct turning point.

Many now see the last 6 months of increasing prices as an turn in the market, and the beginning of a gradual upturn. Prices in the capital remain high compared to almost all other cities in the U.K., which remain downbeat after the recent real estate downturn. During the peak of the market bubble, most U.K. cities enjoyed extrordinary pricing valuations. London and Edinburgh are two of the few cities which still remain out of reach for most first time buyers, with demand for new homes still strong.

Home Sales Demand

There has been reports for muc stronger demand in the lower end of the market in London, as low interest rates and increasing yields on cheaper housing becomes apparent.  In certain areas of in-demand central london, sellers may even have the upper hand.
Cash rich investors are expected to make a return to the market, as many feel that the market may have bottoms out, with many investors unwilling to miss out on the returning London market. Prices have taken only a very slight dip in recent months.

The top-end of the market has seen some very modest decreases in value, but the mega-rich have been far from the poverty line. Most have simply sat on the sidelines, watching the inevitable unfold - and many are now in a better postion than before the crash. Whilst the first time buyer remains very much out of the loop in the london market, bargains abound for the well off. With many amatuer landlords crumbling under the mistakes they had made during the boom years, more experienced landlords are now moving in to pick up the housing sale bargains. Top end rental properties have increased their value by 115% this year, as the well-healed remain unfazed by the recent crash.

House Price Expense

First time buyers are still in a most unenviable position, where a 2 bed flat in central London will cost anything around the £300,000 mark. This effectively means that a young couple looking to buy in the capital would require a healthy £75,000 income between them. On top of a deposit upwards of £10,000. Oh, and dont forget stamp duty of around £8,000, and any other expenses you care to think of. London, depsite recentdecreases in property prices, is still a pricey place to settle down.

Rental values for mid range properties in London remain down for the 14 consecutive month, recent studies reveal. To search local rental values in your town, click here: http://www.sell-my-house-quick.com/search/index/minrental/1

The Council of Mortgage Lenders (CML) has given further boost to the UK optimists
hopes of a property revival, today reporting that its members have granted 16% more home
loans in April, than were allocate in March. The news arrives as a welcome fillip to a market
uncreasingly uncertain about its future.

The CML, who’s members account for 98 of 100 home loans granted in the UK, said 35, 600 loans were granted in April. This is still 28% behind last years april statistics.

The 16% increase in mortgage approvals were for customers moving from home to home, rather than first time buyers, which gives us an indication of the facts underneath the figures. First time buyers are generally regarded as a market indicator in terms of an upturn in the market.  When these increae, it augurs well for an increase in house prices. There was a 13% increae in home loans to first time buyers in the March - April period, signifying a subtle but important potential trend development.

The new statistics also provide an insight into the load-to-value ratios lenders are agreeing to lend at. Last year, the median loan to value rate was 72%, now this year its 67%. Lenders hve also radically reduced their lending terms, which have now come down to 2.63 times a borrower’s income - this time last year, the banks were lending an average of 2.97 - almost 3 times the income.

Historically low

Whilst the new figures do signal a significant upturn in the amount of mortgages being granted, historically, they remain far from the highs of recent years. This april’s 35,600 loans still reflect ah housing market struggling to find a market bottom, and investors remain on the sidelines waiting it out. In the last seven years, the market average for home loans in April was 88,000. There are also signs that many borrowers are switching from there flexible mortgages to fixed rate products, with interest rates at a low. The fixed rate loan applications have risen to levels not seen since july last year. Short term fixed rate loans are now far more appealing that long term variable rates.

These tentative signs can signal a base to start a housing market reform, but have a long way to go to represent a housing market recovery.

First Time Buyers

RICS (The Royal Institue of Chartered Surveyors) Reported that buying enquiries increased in may for the seventh month in a row in the U.K,  and economists reporting that with house prices falling and interest rates dropping , there would inevitably be more activity in buying in the U.K. Lending criteria remains tight, inhibiting first time buyers from entering the market, who also have to incorporate stamp duty in their initial purchase, adding more cost to a purchase which many find out of reach. A further drop on house prices of 10% would not be unreasonable to expect over the next 12 months.

Most economic commentators are agreeing that the market remains extremely volatile and the next few months could produce highs and lows. Growing unemployment, low wage growth and a public unwiling to take a chance on house prices, continue to place heavy downward pressure on the houseing market in the U.K.  There will invevitably in a very slow, steady recovery, based in the amount of first time buyers entering the market, which remains at a low.

On a global outlook, today the Chief of the IMF, (International Monetary Fund) chief Dominique Strauss-Kahn has suggested that ”The large part of the worst is not yet behind us.” Whilst many commentators in the U.S and the U.K. remain upbeat regarding the worldwide and home economies, there are many factors to be taken into account,  with the U.S. providing a forecast for europe as to which way the global housing market may turn next.

For housing price comparibles in your area, click this link: http://www.sell-my-house-quick.com/search

Australian home prices have dropped again, according to the latest data from the Australian Bureau of Statistics. With exception of Darwin and Adelaide, in the December quarter, house prices fell a relativelt small 0.8%, in all capital cities across the country. House prices in Australia have remained relatively robust, when compared to the catastrophic collapse in the United States and the U.K in the last 12 months. Compared to the rest of the global economy, Australia appears to be weathering the economic storm with a quietly upbeat outlook. Across the country, there are a variety of different stories regarding house prices and movement, with Melbourne reporting the biggest drop of 1.7%, down on the previous quarter. Bribane’s housing market appears to have cooled a little, with the average house price dropping 1.2%. Sydney’s has faired well, with a slight drop of 0.3%. Conversely, Darwin’s prives have remained optimistic, and demand there remains high, with an increase of 1.6% over the same period.

Whilst prices have dipped slightly over the last few months, Australians are upbeat about the next quarter, and are aware that the falls in the median price have been generally very modest. The mood remains positive.

It was back in 1996 that house prices in the capital cities across Australia fell. The fall over the last year was only 3%, a meagre amount those sustained in in Europe and the U.S., which have had to bear 10 -20% losses and upwards, especially in hard-hit areas in the U.S, like Florida and California. It illustrates the fundamental difference in the economies around the globe.

It all adds up to a heady cocktail for Australian investors. A good time buy? It looks very much that way. With the First Home Owner Grant available, and interest rates low, it would look like the ideal time for first time buyers to step onto the ladder. We’re expecting a significant upturn in the Australian market in 2009! Search for australian homes here: http://www.sell-my-house-quick.com/search

With interest rates at the lowest level for years, and are expected to drop further, revivals in Australian home buying are expected.

RealtyTrack.com, a foreclosure specialist in the U.S, stated that despite foreclosure rates declining from the record breaking mark of april, foreclosures continue at an alarming rate in the U.S. The obama administrations attempts at reducing troubled debts and helping distressed owners, continues to make small progress in the wave of floclosures sweeping the american property landscape.

May is now the 3rd highest on record for foreclosures - there have been nearly 1 million foreclosures in a 3 month period this year - an unprecedented amount.

There were temporary freezes on foreclosures during march - in an attempt to help struggling homeowners gain some reprieve - these have now been released back into the maketplace, and may start to add to the ominous figures.

The current figures tell us that around 1 in 400 houses in the U.S are receiving default notices of some type - and the foreclosure figures are relevant to the economic recovery; until they are reduced, house prices can’t recover, which can’t recover until foreclosures are reduced…a confounding picture that is one of the great troubles of the current administration.

REO’s (real estate owned) are bad debts that banks and lenders have on their books (and don’t want them) are set to increase in the coming months.

The government plans will take time to be implemented, as prices continue to drop.

In a typical year, there are around 800,000 foreclosure in the U.S - experts predict that this year there will be over 4 million across tha states. Two factors are in play now: the amount of unsold inventory, and the downward pressure on prices - all leading to an increase in foreclosure activity. States which had reaped the benfits of large scale increases in property, are now the worst affeceted areas. Nevada comes top of the list, with one in 64 houses in foreclosure. California, Florida and Arizona, are 3rd 4th and fifth respectively.

If you need to advertise or sell your property, click  on this link, to be taken to our log in page. http://www.sell-my-house-quick.com/user/register. If you are in need to sell your house quickly for whatever reason, you can advertise your property as a ‘Discounted Property’, where you can state the value of your home (usually aquired through a certified valuer) and what value you are willing to. For example, if your house is valued at $200,000, on your listing page, you can check the ‘are you negotiable?’ tab, and enter how much you are willing to negotiate on the sale of the property. See our FAQ page for more details.