Friday, 30 March 2018

Lottie's Top 10 Tips on How To Sell Your House


   
 
 
 
 
 
 
 
 
 
 
 
Do you want to boost the attractiveness of your home AND your asking price? Of course you do - and you can!
 
Here's how to make your house stand out from the competition and how to achieve the best price.


If you are thinking of selling your property, don’t ask the agent out a few days before you want to put the property on the market, do these initial five steps in advance of the agent coming around to value your property to give your home the best chance at maximising its value.

You’re putting your house on the stage, in the spotlight… ‘On The Market’.  Unless your house looks appealing in photographs, it will struggle to attract the right audience and may take longer to find a buyer. 

1.    Wake-up and Make-up. Get busy and do all those jobs that you keep meaning to do; freshen up the paintwork, deep-clean the carpet, clear any debris from the gutters and cut back sprawling trees which can obscure the house and block out daylight.

2.    Get Packing.  You need to show how much space your property has, and in particular how much work space is in the kitchen.  Put away personal items and family photographs. Add space where possible to create family areas, such as turning a neglected dining room into a second living room.

3.    Cottons and Candles.  Use high-end luxury brands to accessorise.  Invest in some new, fluffy white towels, crisp cotton bedlinen and some luxury scented candles.  Remember, these items are ‘props’ used purely for viewings and best of all, you can take them with you to your new house, and so they’re worth the investment.

4.    Docs and Deeds.  You can’t sell your house without the right documentation, such as any necessary local authority planning consent certificates and title deeds.  Don’t wait until your solicitor is on the phone asking for them!  Legal delays are frustrating and an unnecessary delay on your part could result in your buyer changing their mind.

5.    Money, Money, Money.  Don’t go for the highest valuation. Think twice before going with the agent who says your house is worth £20,000 more than a rival firm suggests.  If your house ends up staying on the market for 6 months, then it will cost you money in the long run and it’s likely your future dream house will be sold in the meantime.

Research has shown the first four to six weeks are key for successful selling.  Here are my next five tips for stress-free viewings;

6.    Be ready.  Be available at short notice for viewings.  Change your bedlinen and replace the towels with your new, white, fluffy ones.  If you’re in a hurry and you have a spare duvet, keep the new cover on that and ‘hey presto’!

7.    No distractions.  Your buyers won’t want your dog jumping up at them, no matter how much they say they love pets.  Likewise, you’ll be far more relaxed carrying out the viewing if your children aren’t following you around or using the bathroom!  Ask a friend to mind them for a while.

8.    Light and airy.  Freshen up your home and open a few windows to let some fresh air in, especially if you have pets or are partial to spicy foods.  However, make sure the temperature is comfortable.

9.    Shine on. There’s a reason why developer’s show homes have table lamps switched on all day. Copy their tried and tested technique to add warmth to every room.  Make sure you light up the wood burner and fill the log basket beside it.  In the summer months, set the table outdoors to suggest a great spot for easy entertaining.

10.  It’s show time! Fill vases with fresh flowers or, if you are rushed for time, some pretty greenery from your garden will look effective, plump the cushions, put on some quiet relaxing music, remember why YOU first fell in love with the house and smile…You’ve SO got this!

Call us to find out what you need to do now to get your house sold in the coming months.
 
Lottie Crooke
Director, UPP Property


Stamford 01780 484 554
Rutland 01572 725 825










 
 

 


Monday, 26 March 2018

142 First Time Buyers in Rutland bought their first home in 2017

A little bit of good news this week on the Rutland Property Market, as recently released data shows that the number of first time buyers taking out their first mortgage in 2017 increased more than in any other year since the global financial crisis in 2009.

The data shows there were 142 first time buyers in Rutland, the largest number since 2006.

However, the buy-to-let investment in Rutland was subdued, with only 29 buy-to-let properties being purchased with a mortgage. However, I must stress, whilst there is no hard and fast data on the total numbers of landlords investing in buy-to-let, as HM Treasury believes only 30% to 40% of buy-to-let property is bought with a mortgage. This means there would have been further cash only buy-to-let purchases, it’s just that the data isn’t available at such a granular level.

In terms of the level of mortgage debt in Rutland, there has been a steady rise in borrowing over the last few years.  This is pleasing as new mortgage debt is created by first time buyers, buy-to-let landlords and home movers themselves, and that is being roughly equalled by the amount being paid off with mature mortgaged homeowners in their 50’s and 60’s finally paying off their mortgage.
 

So, what does all this mean for the Rutland Property Market?  Well, the stats' paint a picture, but they don’t inform us of the whole story.

The upper end of the Rutland property market has been weighed down by the indecision around the Brexit negotiations and rise in stamp duty in 2014, which made it considerably more expensive to buy a home costing more than £1m.





The middle part of the Rutland property market has been affected by issues of mortgage affordability and lack of good properties to buy, as selling prices have reached the limit of what buyers can afford under existing mortgage regulations.
 

The lower to middle market was hit by tax changes for buy-to-let landlords, although this has been offset by the increase in first time buyers.
 




If you are in the market and selling now and want to ensure you get your property sold, the bottom line is you have to be 100% realistic with your pricing from day one and you might not get as much as you did say a year ago (but the one you want to buy will be less – swings and roundabouts?). I know it’s not comfortable hearing that your home isn’t worth as much as you thought, but buyers are now unbelievably discerning.
 
So, if you are thinking of selling your property in the coming months, don’t ask the agent out a few days before you want to put the property on the market, get them out now and ask them what you need to do to ensure you get maximum value in the shortest possible time. I, like most agents, will freely give that advice to you at no cost or commitment to you.
 
 
 
 
 
 
 
 
David Crooke, 01572 725 825
 
 
 
 
 
 
 
 


 

Here are the 3 best property deals on this week's Stamford and Rutland property market:

PROPERTY 1)


WHAT? 4 Bed Detached House  
WHERE? Schofield Road, Oakham
WHY?  Properties of this size and type are always in high demand by tenants.  This particular property is presented in a great condition and is in a sought after location.  Chain free.  


HOW MUCH?  Guide Price £295,000, on the market with UPP Property
FINANCIAL RETURN?
Rent Approx. £1100pcm
Annual Income c£13,200
Yield c4.4%

MORE DETAILS?  Click here...

 
PROPERTY 2) 

WHAT? 3 bedroom end of terrace
WHERE? Vine Street, Stamford
WHY?  Popular rental location, fantastic location, plethora of original features, sought after property size and type.  Chain free.



HOW MUCH? OIEO £300,000, on the market with UPP Property
**The current owners of this property are open to offers by investors**

MORE DETAILS?  Click here...
http://www.rightmove.co.uk/property-for-sale/property-49957086.html

 
Property 3)

WHAT? 2 Bedroom flat
WHERE? Kilburn Road, Oakham
WHY? Popular size and location with the rental market.



HOW MUCH?  Offers over £120,000 - on the market with Connells
FINANCIAL RETURN?
Rent £525pcm
Annual Income c£6,300
Yield c5.2%
 
MORE DETAILS?  Click here...
http://www.rightmove.co.uk/property-for-sale/property-72107213.html


If you are considering investing in property and would like to chat through the figures with me, please contact me.  I am happy to help.

David Crooke, Owner and MD

UPP Property, Sales & Lettings 

Stamford 01572 725 825 / Oakham 01780 484 554
david@upp-property.co.uk







 
 
 
 
 
 



 

Saturday, 17 March 2018

Homeownership Amongst Stamford’s Young Adults Slumps to 50.96%

The degree to which young people are locked out of the Stamford housing market has been revealed in new statistics. 

A local landlord was asking me the other week to what effect homeownership rates in Stamford in the early to middle age range had affected the demand for rental property in Stamford. I knew anecdotally that it affected the Stamford rental market, but I wanted evidence to back it up.  

Since the Millennium, overall general homeownership in the 25 to 44 year old age range in Stamford has reduced from 70.47% to 50.96%

The following graph shows the four age ranges of 25-29yrs, 30-34yrs, 35-39yrs and 40-44 yrs, and shows the homeownership rate has proportionally fallen the most for the youngest (25-29yrs) age range.



The landlord suggested this deterioration in homeownership across the age groups could be down to the fact that more of those born in the 1980’s and 1990’s (over those born in the 1960’s and 1970’) are going to University and entering the job market at an older age or that those young adults are living with their parents longer.

I read some national homeownership statistics of different age groups with the same number of years after they left education (rather than at the same age) and that gave an identical dip to the graph above. Neither are these declines in homeownership related with a significant increase in the number of young adults living with their parents.


Again, nationally, that has hardly changed over the last 20 years as the percentage of 30 year olds living with their parents only increased from 22% of those born in the early ‘70s to 23% of those born in the early ‘80s.

With the local authority not building council houses, Housing Associations strapped for cash to build new properties and the younger generation not buying, there is only one way these youngsters can obtain a roof over their head and have a home of their own - through the private landlord sector. Now with the new tax rules and up and coming licensing rules, landlords will have to work smarter to ensure they make the investment returns they have in the past.


If you ever want to pick my brains on the future direction of the Stamford rental market, drop me line or pop in next time you are passing my office. 


David Crooke, Owner & MD




 

Friday, 9 March 2018

3 Best Buy To Let or First Time Buy Property Deals on this week's Stamford & Rutland Property Market

Here are my 3 best buy-to-let or first time buy property deals on the Stamford and Rutland property market this week....
 
PROPERTY 1)
WHAT? 3 bedroom terrace WHERE? Woodland View, Oakham
WHY? Popular location, looks to be in great condition, good size sitting room.
  

HOW MUCH?  £190,000 - on the market with Spencer's
 
FINANCIAL RETURN?
Rent Approx. £650pcm
Annual Income c£7,800
Yield c4.1%

MORE DETAILS?  Click here...

 
PROPERTY 2) 

WHAT? 3 bedroom terrace
WHERE? Lancaster Road, Stamford
WHY?  Popular rental location, newly fitted bathroom, front and rear gardens, chain free.
    

HOW MUCH? £169,950 - on the market with Nest Estates

FINANCIAL RETURN?
Rent Approx. £650pm
Annual Income c£7,800
Yield c4.5%


WHAT? 2 Bedroom end of terrace
WHERE? Trinity Road, Stamford
WHY? Great open plan downstairs layout, newly fitted contemporary kitchen, low maintenance garden and off road parking.

HOW MUCH?  Guide Price £199,995 - on the market with Sowden Wallis
 
FINANCIAL RETURN?
Rent £675pcm
Annual Income c£8,100
Yield c4.1%%
 
MORE DETAILS?  Click here...
http://www.rightmove.co.uk/property-for-sale/property-71855396.html

 
If you are considering investing in property and would like to chat through the figures with me, please contact me.  I am happy to help.

David Crooke, Owner and MD

UPP Property, Sales & Lettings 

Stamford 01572 725 825 / Oakham 01780 484 554
david@upp-property.co.uk