A move to a more balanced market for buyers and sellers
It has been a hot summer at times and for many buyers it has been a frustratingly hot year in the property market, but there are some positive signs ahead for those looking to move.
We have seen an increase in the number of properties coming to the market many of which are sellers who were previously too anxious to market until they had bought choosing to take the plunge to improve their position and therefore chance of securing a property. This has created a better balance in terms of the numbers of active buyers and the number of properties available which has helped many desperate home movers secure a home.
Whilst prices being achieved are often in excess of Home Report Value, they are not quite as excessive as they were a few months ago but for those buying and selling this slight decrease will be reflected in both their sale and purchase price so many home movers are happy their move has been possible.
Another positive change is the return of open viewings, making it easier for potential buyers to view a range of properties more easily. Sellers with for sale boards who advertise open viewings have the opportunity to catch buyers’ attention as viewers can act spontaneously if they see a property for sale when passing and can pop along to view without an appointment. This dynamic has really been missing from the market and its return is very positive.
Now is the Time for Advice
Despite market conditions being, in our view, more positive, there are still many factors with which to contend, and probably chains and mortgage lenders are the most problematic. Sadly, this year some transactions have fallen through when one element of a chain fails to sell, deliver their mortgage, or have a buyer or seller withdraw. When evaluating which offer to accept it is imperative to have advice from an experienced team who can navigate and best advise you to ensure the process is as smooth as possible, while supporting you every step of the way.
Research is the Key to your Sale
Research is key to a successful marketing strategy for your property and our Property Director is an enthusiastic expert. As well as our knowledge of statistics generally, we are also aware of successful and unsuccessful offers, so have a truly up to date view of the market. In addition, we do in-depth research into your area, competing properties, historic trends and all the special features that your property may have that could help your sale. Why not arrange a discussion about how to sell your property and, if you are also trying to buy, you will find out how our service is perfect for you. We can guide you through until you achieve your goal.
Now is the Time for Free Mortgage Advice
With interest rates and household bills rising, now is the perfect time to get mortgage advice, and working with independent advisers Save & Invest, we have arranged for free advice on mortgages or remortgages for our clients, or even potential clients. There are loans of all shapes and sizes, different fixed terms, variable rates, different percentage of loan to value. So much to think about when rates are changing so much.
Should you take a fixed rate, if so for how long, what is the difference in interest rate between a two or a five-year term? Don’t worry, speak to a real person, with real knowledge and move with confidence, or even stay where you are!
If you have any questions, or would like to consider if now is a good time for you to buy or sell a property, call us now for a no cost or obligation discussion with one of our Solicitors or our Property Director.
Call 0131 667 1900 or email mail@deansproperties.co.uk.
Your home may be repossessed if you do not keep up repayments to your mortgage. Deans Mortgages is a trading style of Save & Invest Financial Planning Ltd, a fully independent financial and investment adviser, which is authorised and regulated by the Financial Conduct Authority. Save & Invest (Financial Planning) Limited is a company registered in Scotland SC 113651. Our Head Office address is 100, West Regent Street, Glasgow G2 2QD. Telephone 0141 332 8088; Fax 0141 332 7318.