onestopview.com » property prices

Mortgage Options shrink for First Time Buyers UK

onestopview — Sat, 13 Jun 2009 16:42:48 +0000

UK First time buyers are finding it hard enought to get onto the property ladder to to high prices of UK property, but now (rightly or wrongly) banks are now reducing mortgage options. The 10% deposit mortgages have shrank by 97% during the last two years with only 102 different options for people looking to borrow upto 90%. This is down from 3,148 different deals at the beginning of 2007, according to moneysupermarket.com.

Another dagger (hopefully) into the high priced property market is that average interest rates are on the increase (And will continue to increase) despite the BoE reducing the base rate down to 0.5% over recent months. In January 2007 with the base rate at 5% the mortgage rate was 6.20% and now despite the base rathe shrinking to 0.5% the mortgage rate has rised to 6.23% !!! The main reason for these high rates is because the people in the know (apparently) are well aware of the current house price market and feel prices have some way to fall yet.

BMV Opportunity, Repossessed, Quick Sale needed or Reduced?

onestopview — Fri, 06 Mar 2009 12:42:10 +0000

I was taking a view of property available in my region of the UK on the internet the other day and I was amazed by the amount of varied wording used to attract buyers. No longer is it enough to describe the property in full, we are now having to add tempting phrases in order to attract potential buyers interest. I particulary noticed the usage of ‘quick sale needed’, ‘reduced again’, ‘reduced to sell’, credit cruch of repossession and BMV opportunity.

These are all terms that we may be familiar with, but it is only of recent have they been attached to property. I was honestly more attracted to property using these terms than by those simply detailing the property description etc.

Are you seeking a property to buy and do you also look out for these phrases by example using them in search engines such as Google? Do you market your property using these terms or do you feel that they may drag down the perception of the property in question?

There is no doubt that people out there are always looking for a bargain, so really, these terms are ideal to attract buyers, are they not?

Are any Houses Selling?

onestopview — Thu, 23 Oct 2008 19:32:47 +0000

Well, the answer is quite simple – Yes they are, only if they comply with the following in:

A) Correctly priced for todays market. (No longer the days of boom and silly prices)

B) Correct marketing.

C) Negotiated correctly.

It is amazing to think that in such a short space of time, only two years, we have gone from property prices increasing daily and selling like there was no tomorrow to a free fall in prices and people can’t get rid of their property quick enough. You just open your local paper and see how hard to estate agents are trying to bring in buyers. You will find the word auction become more and more common in months to come as sellers and all too often now, banks are selling off property at BMV (Below market value) upto 60%.

UK is not the only country to see these real estate price falls, but it certainly is seeing the sharpest slides in home value. Sit tight, it will be a bumping ride down……