June 30, 2009
AT LAST! COULD IT BE TRUE? THE HOUSING PRICES HAVE BOTTOMMED OUT?
The Sell House Fast Company is one of the growing number of specialist companies founded to cater for the demands of rising numbers of residential property owners looking for a Quick Property Sale. The Sell House Fast Company produces a regular evaluation of the state of the residential property market drawn from numerous indicators, but primarily based upon real life data of real sale prices achieved. This puts the company in the best position to track actual trends in home values and provides a real “hands on” feel for where prices might be headed.
The firm buys houses throughout England and Wales at below market value from owners who need to Sell Home Fast, or anyone just looking for a very Quick Property Sale. The Company then straight away puts the home on the market in the hope of selling at a profit. To ensure profitability the company must accurately judge value on purchase, and then has the immediate opportunity to fine tune that valuation by exposing the home to the market and comparing the actual price achieved with the valuation placed on it on acquisition.
The June 2009 market evaluation seems to show home prices at or near to the bottom. The company report only 13% of homes traded during 2008 bringing in the estimated value, despite all being sold within 4 months of purchase. The situation for 2009 is appreciably better with all current stock homes listed at above valuation figure and all generating interest levels consistent with an expected fast sale. All sales transacted during 2009 have been within 3% of estimated value indicating at least a stabilisation during the early part of the year.
In addition, other indicators are starting to point in the “stabilisation leading to recover” direction. Both Nationwide and Halifax, the country’s two leading mortgage lenders, have reported recent price increase estimates, and many estate agents are reporting increased purchase activity. The quantity of mortgage approvals, whilst still low in comparison to two years ago, are posting steady month on month increases. And finally the anecdotal evidence from many estate agents across the country shows a return in confidence amongst purchasers. Many purchasers perceive houses at current price levels to be good value for money, and, as long as they can obtain a mortgage, they are returning to the market faster than new sale instructions.
In the long term home prices should rise in line with the general inflation figure, this is beneficial for everybody: it means that funds invested in properties is secure, Banks are confident to lend and first time buyers are still able to afford to get on the property owning ladder.
If you have a house to sell and would like to achieve a guaranteed fast sale, but can accept an offer below market value, then contact any of the specialist Sell House Fast companies. Better still, call a few of them, and compare their offers.
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