TOP SELLING TIPS 17

When selling your property, it is important that your Estate agent delivers impressive initial results with plenty of viewings followed by prompt and constructive feedback.

Such feedback is critical in the early stages of marketing as it helps you interpret the market’s response to your property from those most likely to buy it, i.e. those hot buyers who were offered the property first.

Whilst high viewing numbers are important, it is also crucial that these buyers are well qualified, with your agent keeping you fully informed about each buyer’s ability to proceed before they even view your property. This not only enhances security but also determines whether the buyer has sold, amount of deposit available, mortgage requirements, reason for moving, etc

Too many Agents take a lazy 'Shotgun' approach in the belief that if you throw enough Buyers at a Property, someone is bound to Want it ! Surely, as a Homeowner you would prefer a more targeted approach?

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2016 Property Predictions - Part 2

Part two of Predictions for the Property Market for this year

6. The Emergence of the Company Landlord

Setting up a Limited Company is a fairly simple and Inexpensive procedure. (Can be done online for £20). It has become a more attractive option to avoid the changes to Mortgage Interest Tax Relief. It was previously less attractive due to the restrictive nature of obtaining Finance (see Next Point) and the Potential issues with getting money back out of the Company (if needed). However I'm sure over the next few months we will see a number of creative solutions with firms offering competitive Accounting Solutions for Company Accounts

My I also be as bold to Suggest that groups of Landlords may get together to Form Companies owning their Property, making them Shareholders........

7. Increase in Company & HMO Finance Options

Lenders have a vested interest & a commitment to their shareholders to ensure that they do not lose out as a result of the changes to the BTL market which is expected to see significant numbers of less professional or more highly geared Landlords throwing in the towel (as per George Osborne's ultimate master plan of seeing the private rented sector controlled by a small number of institutions rather than thousands of individuals)

Such institutions will have seen many market changes and will have reacted accordingly to ensure the long term profitabilty of their business, and I see no reason why the changes being implemented in 2016 should be any different

8. Increase in attractiveness of 'Buy to Sell' - FLIP Deals

With increasingly slim pickings from single lets, many small and Individual Property Developers will look at other ways to profit from property. Flipping (buying poor quality or repossessed 'dumps', improving, then selling at a profit) is an established way of making short term profits

It tends to work best in buoyant, rising markets (as those Flipping benefit not only from the increase in value from the work they have done but the natural organic price increase during the time the work is undertaken) . This has always been a popular in the Past in Bedford and this may become increasingly so. 

9. Development Projects Will Provide Excellent Opportunities.

Whilst there is concern over the negative impact of the Stamp Duty and Mortgage Tax Relief changes on the BTL market, one positive is that the government has recently extended the permitted development of commercial property into residential use

Whilst quite a specialist field and one requiring more upfront investment than many strategies it should not be discounted as training/knowledge is widely available and finance may also be secured for the right opportunity, through traditional lenders or Joint Venture partnerships

I can see this happening more in Bedford, It has been fairly prevalent already and predict this trend, along with the conversion of disused pubs, to continue throughout 2016 and beyond . We have recently seen a number of Investors from London venturing out of the Capital, seeking opportunities along the various Commuter Corridors, of which Bedford is one.

10. Creative Methods Will Continue , the demand will need to be met.

The Government, bless them, will continue to try and clip the Wings of Entrepreneurs, if it perceives them as making money! It will demand its pound of Flesh to help finance its Budget deficit. The truth is, there is a need or demand from the Market. Granted there are still many people who aspire to owning their own home, but for many who don't want to put down roots, renting gives them the Flexibility that their lives and careers demand. Until such time that the State can fulfill this demand, then the Entrepreneurs amongst us will.

Whatever you may think about the forthcoming 'Landlord Bashing' measures, proactive investors will continue to profit from property through creative methods such as using Lease Options/Exchange With Delayed Completion, Joint Ventures/Private Finance, Bridging Finance etc

Any comments, observations, critique or otherwise can be aimed here:

2016 Property Predictions : Part 1

Afternoon all and a Happy New Year to everyone out there. With the turn of the Year it is often a time when many people take stock and reassess their Circumstances. Therefore It seems appropriate to stand back and try to look at the BIG Picture. The Property Market in Bedford is Fluid and Constantly changing, but Some trends can be picked if you try to read between the Lines. Therefore, here are a Number of Predictions for the New Year

1. Rents in 2016 - The only way is up!

How much they will rise is difficult to say.  The the Recent burdens placed on Landlords by George Osborne (stamp duty and mortgage interest relief changes) will see the supply of rental properties reduce as some Landlords exit the market (mainly those with high borrowing and the 'Dabblers'). Another factor to Consider is the Introduction 'Right to Rent'. This will place a further administrative burden and Cost on Landlords, failure to do so may result in a Fine of £3000. Combine these with increasing tenant demand and simple economics suggests that this will cause an increase in rents.

2.  The Bank Base Rate - not much change In 2016 

Okay, I'm no economist but there has been a bit of a economic recovery. Many households are now feeling that they are back to doing 'OK', and this has been based to some extent on the 0.5% base rate that has been enjoyed since 2009.

The Bank of England (BOE) meets monthly to discuss the Rate and whether to raise or lower it. The media love to speculate and have been saying for many of those years since that the Rate will rise soon, but the BOE never has. The fragility of the the UK Economy and its recovery, coupled with the Volatility in the World at large has meant the BOE is 'Risk Averse' Therefore I think its fairly safe to say that any change will be small if at all. 

One thing for certain though is that the Media will over hype any rise (no surprise there then!)


3.  MAD till MARCH, Post- Easter Blues

Now Investors, who invariably plan for the long term, shouldn't be put off too much by the 3% Stamp Duty Rise on Buy To Let purchases from April. However, it would clearly make sense for those investors in a position to buy quickly to do so before 1st April and avoid the tax. Therefore this is going to lead to an increased sense of Urgency for the first 2-3 months. It will have the effect of Bringing Sales Forward and thus lead to the Slump in Month 4.

The introduction of the 3% Stamp Duty will only serve to drive up Rents Further. Interestingly though, George has left a legal loophole in the new rules, because when it comes to selling up, they can offset purchase costs against any eventual capital gains tax, including stamp duty


4. Working Tenants sort after, As Housing Benefit Is Cut back

It is anticipated that at best Housing Benefit rates will be frozen or at worst they could be cut in 2016. This will mean tenants will be forced to 'top up' a larger amount or run into arrears

Combine this with the additional pressures facing Landlords as a result of the phasing in of mortgage tax relief changes and it may be that Housing Benefit tenants become an increasingly less attractive option, especially where margins are tightest on single lets


5. Change of Focus - increase in HMO's 

The 'Anti Landlord' measures introduced are aimed at hitting single let Landlords in the pocket. However, every challenge creates an equal or greater opportunity, it may just need a change in approach or focus to generate significantly greater returns. 

HMO's are perceived as being exclusively for students or generally being of low quality. Many feel that they won't work 'in their area'  However, if priced and presented right, this strategy, aimed at working tenants, will work in most areas with the exception of the more rural Parts of the Country.

It still remains a relatively niche sector of the market but take a quick look on www.spareroom.co.uk, and it shows that there is demand for this sort of accommodation and would predict that it will become more popular in Bedford going forward.  


Any Ideas? It would be be good to hear from your here

TOP SELLING TIPS 16

So you think you're ready? You've instructed an Agent, you've tidied up, 
The Agents been and Photographed everything needed and you are content with their Promotional Material. 


You are now on the Market and you wait with baited Breath........breathe, relax and smile!  Don't get uptight. If you've done everything possible to make your House look a million Bucks, chosen your Agent carefully, then it will sell.



How quickly just depends on the Buyers out there and the Market in general. Getting anxious wont help at all

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Is this the end for buy to let in Bedford

Is this the end for buy to let in Bedford?

Well George Osborne, in his Autumn statement a few months ago, caused landlords of Bedford’s 7,202 privately rented properties to ask whether buy to let is a viable investment option, when he announced that landlords, when buying another buy to let property from April 2016 will have to pay an additional 3% stamp duty on top of the standard rate. So for example, It means that the stamp duty bill for a £285,000 buy to let home will rise from the current £4,250 to £12,800 from April (2016)  
Some say property in Bedford will be worth less because potential landlords will not be willing to pay as much for them, and if house builders or existing homeowners don't feel they are going to get as much for them , then there is less motivation to build / sell them?... and the person we can blame for this is George himself. Back in 2012, he choose to utilise the British housing market to kick start the UK economy, with  subsidies, Funding for Lending and Help to Buy.

However, whilst that helped the Tory’s get back into power in 2015, some say this impressive growth in the UK property market has been at the expense of pricing out youngsters wanting to buy their first home. Others say this is the straw that breaks the camel’s back as over the next four years Landlords will slowly lose the ability to offset all their mortgage interest against tax on rental income, after changes announced in the Summer Budget. At the moment, landlords can claim tax relief on buy to let mortgage monthly interest repayments at the top level of tax they pay (ie 40% or 45%). However, over the next four years this will reduced slowly to the basic rate of tax – currently 20%. Surely this is the end of Buy to Let in Bedford? Probably.. but before we all run to hills panicking .. let me give you another thought.

Stamp Duty rules were changed in December 2014. Before then, landlords were eagerly buying up properties under the ‘old slab style Stamp Duty’ system. For example, the stamp duty bill on that £285,000 property was lower on the old slab style duty (pre Dec 2014), at £8,550, yet it isn’t a million miles away from new £12,800 stamp duty bill. Interestingly though, George has left a legal loophole in the new rules, because when it comes to selling up, they can offset purchase costs against any eventual capital gains tax, including stamp duty. I believe that total returns from buy to let will continue to outpace other investments, such as the stock market, gilts, bonds and even pensions. Also, the best part about investing in property is that it is bricks and mortar. You can touch it, you can feel it, and it isn’t controlled by some City whiz kid in Canary Wharf .. the British understand property and that goes a long way! 

Buy to let has enough impetus behind it that prospective landlords will continue to buy even with a larger stamp duty bill. Bedford landlords will need to be savvy with what property they buy to ensure the extra stamp duty costs are mitigated.   Buying buy to let property is a long term venture. In the past, it didn’t matter what property you bought in Bedford or at what price – you would always make money. Now with these extra taxes, the adage of ‘any old Bedford house will make money’ has gone out the window.   You wouldn’t dream of investing in the stock market without at least looking in the newspapers or taking advice and opinion from others, so why would you take the same advice and opinion about buying a buy to let property in Bedford?

Need Advice? Contact me here:

Festive Greetings

TOP SELLING TIPS 15

All ‘active’ buyers will be regularly searching for a  property online so it’s very important that you have a significant online presence.

But what about  the ‘passive buyer’? 

You know the type, they are not necessarily looking, the one who saw the board on the school run, the ones who would ‘love to buy that house if it ever came on the market’ or perhaps who would ‘buy a property in that block if one ever came up for sale’.

Time is a precious Commodity in todays fast moving world, so many people may not be able to check out the latest portal to see whats available.

You also need to market to these buyers. 

A For Sale board is a great way to do this locally.


Need advice? Contact us here.

Schools out !

Okay so this might seem a little premature, seeing as were only just approaching Christmas with another 7-8 months of schooling to go. 

But there is nothing wrong with a little planning! Besides you may need to move mid-term, which is not ideal, and we don't live in an ideal World.

The Maps shows the Main Schools in the Putnoe Area. As you can See, Putnoe is well catered for, with some very Good Schools as well as the University Campus on Polhill Avenue. Below are some links to the schools Websites:

1. Mark Rutherford

2. Putnoe Primary School

3. Hazeldean Pre School

4. The Hills Academy

5. Newnham Middle School

6. St John Rigby Lower School

7. Goldington Academy Trust

Here are some other links that may also be of use:

University of Bedfordshire

Bedford Borough Education Website

Ofsted Website


Ask us here for help. Good Luck !

TOP SELLING TIPS 14

Identify the your Market. Ask yourself who would this House appeal to ? Young, Old, Married, Professionals, Commuters. Couples, Singles, Sharers........


For example, would you a market a Bungalow at young Professionals ? Or a 5 Bed Detached Property at retired Couples ?

Your Agent should be aware of this and should be Marketing Accordingly. Pictures, Wording and Lifestyle Descriptions on the Brochures, Advertisements and Web-Listings should all be geared up to appeal to your Target Market.

Look at the Property, the Area, Access and Transport Links, Schools etc. Why did you buy the Property ? What attracted you when you bought it ? Emphasise the features and benefits that will appeal to your Target Market

Know who you are trying to Sell to and Make you Home as attractive as possible to your Target Audience.
You need to effectively market your Property or get an Agent who knows how to.....

Need advice? Ask me here

Property Focus: Goldington Road

Goldington Road

This Period Property Came onto the Market at the Beginning of the Month. 

On Sale with Cooper Beard it is a beautifully presented Example of what these Period Properties can be like if they are done well and sympathetically Decorated to enhance its features. 

The High Ceilings and Big Windows give them a Lovely Bright and Airy Feel. And if Marketed well, will often attract a Good Price. 

£280k doesn't seem much, for what is a lot of Property......

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TOP SELLING TIPS 13

You should now consider choosing a solicitor or conveyancer to deal with the legal work to transfer ownership of the property. 

You could do this yourself, however this is not for the faint-hearted and should only be undertaken if you have a good understanding of Contract Law.

You may already know a firm through friends or family recommendation's, Word of mouth can be a good way of deciding, however peoples expectations vary so be wary!

You should decide which one you want to use before you agree the sale of your house, this will ensure delays are kept to a minimum. Obviously you can only instruct them once you have agreed an offer.

As well as a Traditional High Street Solicitor, there are now a number of Online Conveyance Sites available which can be a cheaper option.

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Property Focus: Wheathouse Close

Wheathouse Close.


Four Bed Terrace Houses are quite a rarity, but they can represent good value for money. Ideal for for younger Families with a more restrictive Budget, they offer a lot of Space for a lot less money. You just have to be prepared for proximity to the Neighbours!

This Property is a good case in point. Offering 4 Beds and a reasonable amount of living Space. It will offer a growing Family the room it needs to develop over a longer period of time. The layout downstairs could also be improved further with remodeling to increase further the living space on offer

Its not long been on the Market, so if your looking for space on a Budget then its well worth a look.

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TOP SELLING TIPS 12

Probably the most difficult decision when selling your home is trying to Ascertain what its worth and therefore what price to put it on the market for.

Its vital therefore that you do some research and get to know the local Housing market.

You can get a number of local Estate Agents to do an evaluation, but don’t necessarily go for the highest. 

They may overprice in an attempt to get you to sign up for a long Contract and then spend the next few weeks asking you to drop the Price.

Also its important to remember that buyers will probably try to negotiate a discount, so be prepared and factor in a Small Percentage to allow for 'wriggle' room! 5% to 10% should be sufficient.

Just remember: your house is only worth what someone else is prepared to pay at the time you are prepared to sell. 
If the two cases are the Same then you've potentially got a Sale!

TOP SELLING TIPS 11

So now the House is ready and looking sharp. So ask yourself who should I get to sell it ?
You can sell your home yourself, use a traditional estate agent, or an online estate agent. Each has its own advantages and Dis-advantages.

If you use an agent make sure you do plenty of research, but also decide if you want one Agent or multiple. 

Having too many Agents may make you look a bit desperate, so you'd be better off choosing a good local Agent who is motivated, properly vets any prospects, will accompany all clients, but importantly gives good feedback on any viewings. Most Agents will work on a 'No Sale No Fee' Basis and will charge a percentage of the Final Selling Price. 
Be wary of additional Extras (floorplans, glossy Brochures, Professional Photos etc) as these may require upfront payment. 
Just make sure you know what your Getting for the money.

Online Agents are becoming more prevalent as they can offer savings over conventional agent, as long as you feel happy conducting viewings. Basically they will set you up for an upfront fee and then its down to you

Selling yourself is an option but only if you have the time, are organized and have a lot of Patience. Its not for the fainthearted !

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Property Focus: Donnelly Drive

Donnelly Drive


Every so ofter I see a property and think that it should sell quite Quickly, and am proved wrong for one reason or another. Looking at the Property, its a reasonable Area of Bedford, in a newish Estate off Barkers Lane. Its a link-detached, looks comparatively spacious and Well equipped for Family Life. Conservatory (not on floorplan), Utility Room, Downstairs WC, En-suite to Master Bedroom further enhance its Appeal. So why hasn't it been Sold? Here its offered for Sale by Advancing Property for £275,000

That however, is only part of the Story. It actually went on Sale first with Connells back on the 10th June for £300,000, It has now been listed with another 3 agents locally. Yes thats 5 Estate Agents...... A bit of a 'shotgun' approach to selling your House. Obviously for one reason or another it has not Sold, but could well be worth a look, just take your pick of all the Agents!


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TOP SELLING TIPS 10

What is that Smell?


Bad smells are big turn off. 
Try to find out where it originates and treat the source!

Be it a Drain, Bin, Wash Basket or Rover's Bed, Clear, Clean or de-odourise. 

Carpets can also be a source of the Smell, so Buy some Carpet De-odorizer.

Old Furniture can also smell. If it is with embedded stale smells/Cigarette Smoke get rid of it,

Wash any Bed Linen regularly to help keep that fresh too.

If you are a smoker, firstly get in the habit of Smoking Outside, but also Properly Ventilate the House to help remove any lingering smells.

I read once that placing bowls of vinegar around the house and leaving out for three or four days will help. Though the vinegar will smell a bit, when you open the windows it will quickly disappear, taking a most of the stale cigarette smell out with it.




On the other hand, pleasant Aroma's can help too.


Once you've eradicated the Bad Smells, replace them with some good Ones. Invest in some Air Fresheners, maybe even brew some Fresh Coffee too!





Need some advice to improve your home ready to sell? 

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Property Focus: Queens Drive

Queens Drive


Following my Mini-break to Scotland, (you get a lot for your Money up there!) I was perusing Rightmove to catch up on the Comings and Goings. I happened upon this 3 Bed Semi-detached on Queens Drive

Queens Drive is opposite Bowhill Park, (a place I and my dogs know well) so has a nice outlook on to this open Space. Its already been extended downstairs so offers more living space than Standard. OK, so it might be a tad too expensive as a Buy-to-Let Investment, but if your looking for a good sized Property in a decent area for Families then it may well be worth a look.

Its very similar to my own, so I shall be keeping an eye on this one...........


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TOP SELLING TIPS 9

Pretty as a Picture.


Make sure the windows are properly dressed with blinds or curtains.

In many Rooms the Windows are the Focal Point, especially if they overlook some stunning Scenery

Naked windows can make a place feel sterile and austere.

Buy some curtains/blinds if necessary to help improve the overall look and feel of the room.

Plants and flowers bring colour, life and light to a room.

A bowl of Fruit in Kitchen or Diner always adds a nice touch

Remember you home is going on a Date, So Dress to impress!

Need some advice to improve your home ready to sell? 

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TOP SELLING TIPS 8

De-Clutter, but don't leave it Soul-less

Time to shift all that excess stuff that has accumulated in every nook and Cranny.

Stick it in the loft, into storage, sell it or give it away. Especially Bulky furniture. 

Consider selling and replacing with smaller items.  Your potentially going to have shift it anyway!

You want to help people envisage themselves living there. People can find this difficult, so by removing as much as possible, it will help them see the space available

But not too much. You don't want it sterile, like a cheap hotel room....

People are buying into a lifestyle as much as the Property. So show them an attractive side of your lifestyle.

Need some advice to improve your home ready to sell? 

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Property Focus: Kenilworth Walk

Kenilworth Walk

Another Interesting Property on the Market with Wilson Peacock for £225,000.
This 3 Bed Semi-detached Property Features, 2 Double Bedrooms, a Large Lounge and a recently modernized Kitchen. Its been for sale since Beginning of September, and it would be interesting to know what the level of Interest has been. I think this might be a good buy at the Right Price.
Some of the Rooms would appreciate a bit of Updating, But its the Potential for the Property that is most obvious. The Larger than Average Garden means there a lot of Scope to Extend Further or Add a Conservatory. Upstairs could be remodelled to utilize some of the Dead Space on the Landing.
It all depends on your Imagination and of course your Budget.

Its a shame that the Agent is not that forthcoming when describing the property. Not what I would call a FULL Description.......