You have decided that you want a quick sale of your property. In this market you are not prepared to “wait and see” what will happen by using a traditional estate agent. You are therefore thinking about finding a cash property buyer.

Who do you target and what do you need to think about?

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With interest rates static at 5%, living costs and fuel prices rocketing increasing numbers of people are struggling to keep pace with mortgage payments, and other debts secured on property.

The Ministry of Justice said 28,658 repossession orders were made by the courts in England and Wales in the second quarter of 2008. This was up 24% on the same period in 2007 and 4% higher than the first quarter of 2008. Records show that 1.5 million people have current mortgage deals which are about to expire.

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Over the past 2 weeks there has been significant commentary regarding stamp duty and whether it could be temporarily suspended to eject some much needed momentum in to the beleaguered housing market.  More »

Is there an end in sight to the current collapse of the housing market?   “Not in the near future” seems to be the verdict.

The government has, to date, prided itself on the management of the economy and the resilience of the UK economy versus the rest of the world.  Many homeowners have enjoyed unprecedented growth in house prices. Those however not on the property ladder have been forced to rent as houses and flats in many areas, once considered a good “first time buy” have simply become unaffordable. 

Rising costs such as fuel and food are hitting homeowners hard and repossessions have increased dramatically as households struggle to manage monthly costs. However, many commentators argue that it is the impact of banks and building societies restricting and withdrawing mortgage products that has been the key factor in the current housing crisis.   More »

If you are looking to sell your property in London at the current time the hardest decision to make is at what level to market the property.  Estate Agents are clearly desperate for business and some will place a value on a property to secure the property on their books in the hope of then selling it.

However, the shrewd estate agents will not operate in this way as they need sellers to be realistic as to the value of property.  Some estate agents are now simply refusing to market property outside of the valuation they are providing as nobody wants to work hard to secure an impossible sale! 

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Is there such a thing in 2008 as a quick house sale?  The heady days of 2006/07 when houses were being snapped up for over asking price and often the subject of sealed bids is over, for now anyway.  So is a quick house sale a thing of the past?  

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The average London house price has fallen by around £28,000 in the last month, as the downturn in the property market hits the capital.  The survey by property website Rightmove finds that prices fell by 6.8% in London, compared with 3.2% for the rest of the UK. More »

House prices in the UK have fallen for the fourth month in a row, as higher interests rates have dented homebuyers’ confidence, according to new statistics.  According to property website Hometrack, the average house price in England and Wales fell by 0.3% to £174,700. More »