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  • Why Now is a Great Time to Buy Property! | Red Hot Property
    on the housing market and house prices However when we look a little more closely there seems to me to be an argument to suggest that now might actually be a great time to buy particularly if you are a first time buyer The thing to remember is that the actual sale price of a property does not always determine its affordability For instance if property prices dropped by a small percentage and simultaneously mortgage repayments rose then the actual cost of buying becomes more difficult In today s market however the reality is that home buying is now far cheaper than renting which is the total opposite to three years ago Then the average cost of buying was about a third higher than the average cost to rent paid for a similar property In 2008 the cost of buying sat at a hugely prohibitive 47 of disposable income when it is now only 29 I suspect this expectation that buying is still the more costly option may be a major reason for buyers hanging back As a prospective buyer you may wish to consider the following The cost of renting is still on the rise The average monthly UK rental is currently sitting at a staggering 715 per calendar month This cost will continue to rise as long as people remain in limbo patiently waiting for that perfect moment to buy The average mortgage repayment figure has fallen over recent years due to a fall in house prices and low mortgage rates Whilst deposit expectations remain high the benefit is that you are forced to take a lower loan amount and therefore have lower repayment costs long term When the market finally returns and property prices start to rise again you will also benefit from a healthy capital balance

    Original URL path: http://www.redhotproperty.co.uk/blog/why-now-great-time-buy-property (2016-02-08)
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  • It is Important to Remain Open Minded and View Properties | Red Hot Property
    financially but also infer how closely a particular property matches your requirements Because there are so many homes for sale I would recommend that you allocate a healthy amount of time to viewings I strongly believe a property cannot be fairly judged unless it is viewed As an agent I get often get invited to homes that are already on the market with another firm in order to reappraise a sale Often I find that my perceived idea of the property which I had gained from the available marketing literature is not in line with the reality Therefore I would recommend you remain open minded as a buyer and assume the details you are reading may not be allowing you the correct insight With this approach you are likely to view homes that with a normal approach would have been discounted but I bet you will thank me Currently you probably spend your time trawling websites in pursuit of your perfect home With so much choice available your approach may be to quickly narrow this list down to 3 or 4 worthy candidates You then view this handful and settle on the nearest match but is it your perfect home When I visit a clients home to provide a market appraisal I often ask what made you buy or what attracted you to this property A high proportion of these vendors then actually inform me that they had discounted that particular property initially They instead viewed all other available homes only to discover that they were not quite right Then having exhausted all other options they returned to their discounted list as a last resort only to find that their first impressions were indeed wrong When they finally viewed these other properties with an open mind they fell in love

    Original URL path: http://www.redhotproperty.co.uk/blog/it-important-remain-open-minded-and-view-properties (2016-02-08)
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  • 2011 Property Market Review in Brief | Red Hot Property
    approach only a few years ago Their approach recorded record low levels of mortgage approvals With a lack of real buyers with the funds to purchase and a lack of urgency amongst vendors to sell the middle half of the year saw the number of homes for sale start to rise The extraordinarily low interest rates created a comfort zone in which there was simply no financial pressure to sell Vendors decided to wait it out and hope things would improve Unfortunately though buyer s confidence was starting to falter The cost of living continued to rise as did the feeling of uncertainty surrounding job security With no obvious strategy in place to curb inflation the public recognised they were getting poorer With buyers and sellers adopting a lets wait and see attitude the second half of the year began with a slowdown in activity Then came the euro meltdown The immediate effect was the rapid erosion of confidence within the housing market With the media reporting an Armageddon type economic reaction genuine buyers had every reason to bide their time The final quarter of 2011 saw vendors starting to rethink their strategy and become more flexible in their negotiations As the austerity measures cost of living and ultimately interest rates rise real disposable income will dwindle This will bring an increased financial pressure for vendors and thus more reason to sell If this is the case more homes are likely to be listed to the market bringing more choice for buyers and ultimately downward pressure on house prices According to Rightmove November saw the largest drop in asking prices in the UK since 2007 an indication that the smart sellers are already making moves to get ahead of such a situation I do feel those who adopt a more

    Original URL path: http://www.redhotproperty.co.uk/blog/2011-property-market-review-brief (2016-02-08)
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  • 10 Crucial Property Selling Tips | Red Hot Property
    phones are kept on are close by and your answer phone messages are checked regularly after all it may be a while before a similar opportunity to sell appears A missed phone call or a knocked back viewing can often be a lost sale 3 Don t pre judge buyers One of the most fatal mistakes when selling is to prejudge a buyer It is a costly pitfall that even the most experienced sales people can make Keep an open mind and an open door policy to buyers including those who don t have their house on the market I have seen many deals result from this type of viewing 4 Take advice carefully We are often reassured by kind advice and well meaning support However advice relating to the sale of your largest asset shouldn t be taken lightly Many decisions are mistakenly made by vendors because they accept poor yet trusted advice from their family and friends Clearly these people have good intentions but my advice here is simple take advice from those with the experience and credentials to offer it If you don t trust your agent s advice you have obviously instructed the wrong agent 5 Be open about problem issues There is nothing worse for an agent than working hard to establish a sale only to discover a last minute restrictive hurdle that kills the sale Provide your agent with the fullest details on any restrictions covenants listings structural issues boundary disputes and the like so that they can avoid a last minute hiccup This will also save you the unnecessary legal expenses resulting from an aborted sale 6 Choose your solicitor carefully As with estate agents solicitors are not all the same It is important you choose a reliable accessible and communicative legal representative In the UK around 1 in 3 sales fall during the conveyance stage so a strong solicitor can be instrumental in holding a deal together During the conveyance estate agents should maintain a clear dialogue with all parties to keep everyone informed avoid pitfalls and to iron out any snags With buyers and sellers often in a heightened state of stress a non responsive or unavailable solicitor could blow the deal Remember your solicitor will get paid whether the sale completes or not 7 Don t exchange telephone numbers with buyers This is a critical error Your agent is a middle man to mediate and negotiate on your behalf Having an agent allows the seller time to think before making decisions and can avoid you being placed in an awkward pressured or emotionally challenging situation I have seen countless sales fall as a result of buyers and sellers communicating between themselves Selling your home is a serious business transaction in which you are selling your largest asset By diluting the professional and experienced involvement of an agent you are simply jeopardising your sale 8 Work with your agent Estate agents spend most of their working day absorbing knock backs and

    Original URL path: http://www.redhotproperty.co.uk/blog/10-crucial-property-selling-tips (2016-02-08)
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  • The New Online Magazine for Tynedale is Launched | Red Hot Property
    About Us The Red Hot Pledge Regulations Responsibilities Our Awards Our Marketing Team Offices Hot Topics Hot Off The Press Red Hot Tips Awards Contact Contact Us Offices Property Search Property search Home Hot Topics The New Online Magazine for Tynedale is Launched On Fri 11 11 2011 15 05 Posted In News Into The Valley the new online magazine for Tynedale is now live at www into the valley

    Original URL path: http://www.redhotproperty.co.uk/blog/new-online-magazine-tynedale-launched (2016-02-08)
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  • The Influence of Online Marketing Media | Red Hot Property
    Hot Topics Hot Off The Press Red Hot Tips Awards Contact Contact Us Offices Property Search Property search Home Hot Topics The Influence of Online Marketing Media On Thu 10 11 2011 15 05 Posted In Selling Property Property Marketing There is no doubt that the growth of Red Hot Property has been significantly boosted by the staggering levels of referrals we receive In fact for the last three years around ¾ of our property listings have resulted from a personal recommendation During 2011 we have received enquiries from far outside our usual sales territory As a result we have now successfully completed sales for delighted clients in a wide range of areas including Sunderland Liverpool Northampton and Harrogate Our property listings have always varied in terms of price and style but now it seems location is also a major variant Our most northerly property sale is in Jedburgh and the most southerly home we are offering sits in Canterbury both getting viewings I think we all accept the significance of the web in our everyday lives Its dominance has given vendors huge confidence towards its marketing power which has resulted in an agent s office location being totally irrelevant Our website marketing is extensive We pull in huge numbers of people to our site and pay particular attention to how accurately we portray our properties This media has enabled us to banish any geographical barriers that once existed for agents 10 years ago It seems offices are almost redundant as a sales tool for estate agents and I expect in the coming years we will not only see major economic changes but also significant developments in the choice of marketing tools and strategies employed by estate agents With this in mind I expect those estate agents who fail to

    Original URL path: http://www.redhotproperty.co.uk/blog/influence-online-marketing-media (2016-02-08)
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  • A Tough Property Market Requires Strong Selling… | Red Hot Property
    Responsibilities Our Awards Our Marketing Team Offices Hot Topics Hot Off The Press Red Hot Tips Awards Contact Contact Us Offices Property Search Property search Home Hot Topics A Tough Property Market Requires Strong Selling On Sat 03 09 2011 15 05 Posted In Selling Property Property Market These are challenging times The banks remain extremely strict with their lending inflation continues to roar jobs remain vulnerable and the further afield you look the more turbulent economies seem to be On top of all this 70 of all homes listed for sale in 2011 remain unsold according to the leading property portal Rightmove Despite these uncertain times Red Hot Property continue to drive forward large numbers of sales for our clients and whilst doing so we save them thousands with our ½ fees I am delighted to see continued growth between January and June of 2011 having sold a staggering 40 48 of homes in postcodes NE46 NE49 source Vizzihomes Our success is based around three key elements We ensure each property receives maximum exposure to active buyers We know when and where these buyers are looking and have tailored our business to suit The majority of sales now result from a website enquiry Buyers are most active online between 6pm and 9pm during which time our lines remain open Using the very latest technologies each property is accurately portrayed to help buyers quickly and easily understand exactly what is being sold If a buyer misunderstands your home they will bypass it and view an alternative In a crowded market competition is fierce and therefore accurate pricing is essential The biggest mistake a vendor can make is assuming buyers will make me an offer if they think my price is too high Not true they just won t view Our

    Original URL path: http://www.redhotproperty.co.uk/blog/tough-property-market-requires-strong-selling%E2%80%A6 (2016-02-08)
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  • Beware Property Market Analysis! | Red Hot Property
    smile of disbelief widen across my face as I read an article boasting resurgence in lending A headline such as 16 rise in mortgage lending can inject a dangerously overoptimistic confidence into the market particularly for those who don t want to delve that little bit deeper because they daren t face the alternative reality The fact is there will always be daily weekly and monthly fluctuations for example lending was 16 higher in June than it was in May but still 3 lower than it was in June 2010 The long term direction remains the same borrowing is tough lending criteria is strict and it remains at around half of what it normally is in a settled market It can t possibly return to any where near normal levels until the bigger economic issues are settled UK economic growth is slow and below target and I am not aware of any strategy that has been implemented to inject a faster or more aggressive return to the good times Outside the UK you don t have to look far to find turmoil the US debt is unimaginably large and their position increasingly fragile due their in house political stand off s Greece remain in a deep and spicy pickle and Italy look increasingly vulnerable which in turn could dampen all our sparks of recovery So how does this affect property Well if I were asked to bet I would back tougher times ahead There are still a number of economic factors still to rear their unpleasant heads such as an interest rate rise that can only dampen the market Inflation is roaring making us all poorer interest rate rises are looming and redundancies are continuing fuel costs are mounting and so on These sorts of issues don t usually lay

    Original URL path: http://www.redhotproperty.co.uk/blog/beware-property-market-analysis (2016-02-08)
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