News
01-04-10
Would you use a supermarket to sell your home?
With the news last month that Tesco is entering the estate agency business, would you consider using the supermarket giant to sell your home?
Tesco is teaming up with estate agent Spicer Haart to launch iSold.com, a website that allows people to sell their home for a flat fee.
A trial is expected to go live in the Bristol area very soon with a national roll-out likely later in the year.
The basic package involves a visit from a valuer who measures up, puts together the property details and takes photographs before the property is listed, via iSold, on property websites. The seller also gets a ‘For Sale’ board to put up.
Crucially, it is the responsibility of the seller to conduct the viewings.
Tesco is not alone in offering internet-based services for home sellers.One of the latest additions to the property market is Tepilo.co.uk, run by Property Ladder’s Sarah Beeny, which offers the chance to sell your home for free, with no fees.
Sites like iSold and Tepilo may sound good in theory, but, according to local property experts, there are some major issues for vendors to consider.
The first concerns safety and security – would you be comfortable allowing strangers to walk around your home and view your property and all your belongings?
Secondly, there is the practical issue of making yourself and your home available for viewings. A couple who are out at work all day will be at a disadvantage as they may have to turn down viewings.
In addition, how do you know a prospective buyer is a serious purchaser and not just a nosey neighbour? Estate agents perform a vital role in qualifying potential buyers by finding out about them before allowing viewings. Have they sold their current home? How big is their chain? Do they have finance arranged?
There is also the matter of dealing with the professionals involved in the home moving process. Estate agents are used to handling enquiries about all kinds of issues from solicitors and surveyors.
Finally, there are the legal aspects to consider. Many home movers will be unaware that, by misrepresenting a property, they could end up end up breaking the law.
Local agent Jack Merriott of Cross Keys Estates in Devonport Road, Stoke, says: “It’s all very well signing up to one of these web-based services but, without local knowledge, how can sellers be sure they are given accurate valuations for their homes?
“Only local agents can provide legitimate comparable evidence on the value of properties together with area-specific information, such as local covenants.”
Jack also warns that viewings can be an emotional and intrusive experience for home owners: “It can be hard listening to criticisms of your property - whether they relate your choice of kitchen or the colour of your décor - and an agent acts as a valuable middle man.
“Some buyers are too polite to tell owners what they really think so sellers could miss out on valuable feedback.”
Jack adds: “Now I’m quite happy to buy my baked beans from Tesco but mobile phones, insurance, banking, where will it end?
“Love them or hate them, local estate agents have been around for hundreds of years and play a vital role within their communities. Let’s not sacrifice consumer choice and our high streets for the sake of corporate profits.”
Here at Fastmove, our advice for anyone thinking of selling their home is to instruct a fully independent agent who really knows the local community. After all, your home is likely to be your biggest asset so, if you are thinking of moving, always use local professionals.
Fastmove is a local initiative for faster and smoother home moves involving 25 law firms, seventeen estate agents and many more local companies in the Plymouth travel to work area. Further information can be found at www.fastmove.info where there are helpful moving hints and links to all members.
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01-07-10
Will the Demise of Hips Boost the Local Housing Market?
Local estate agents are reporting an increase in properties coming to the market since the Government's decision to scrap Home Information Packs - known as HIPs.
Hardly surprising, as obtaining a HIP usually involved a seller having to part with hundreds of pounds even before putting their home on the market.
With more houses on the market, are property prices likely to come down?
Not according to The Royal Institution of Chartered Surveyors (RICS) whose recent survey claims house prices are rising in most parts of the country, despite the suspension of HIPs and the subsequent boost in housing supply.
Local agent Ben Dreher of Mansbridge and Balment agrees: “We’ve definitely seen an uplift in terms of properties coming to the market.
“People who have seen a property they want to buy can quickly get their house on the market without having to worry about the hassle or cost of getting a HIP done.
“It’s freed up the market for sellers to take a speculative approach and we think more stock on the market means it’s a better market.
“We’ve got more to offer people and, as long as properties are priced accurately, they will continue to sell - we had a very good June”
Introduced in 2007, HIPs were intended to improve the home moving process by making the packs available to prospective buyers and therefore making it easier for them to obtain information about properties.
But they were criticised for being unhelpful, unnecessary and bureaucratic with some commentators arguing they made little difference to the home moving process.
As well as energy performance details, HIPs contained a report on water and drainage services and the results of local authority searches - switching the cost of searches from buyer to seller.
Sellers will still need to have commissioned, but not necessarily received, an energy performance certificate (EPC) before marketing can start. This means that a seller, or person acting on their behalf such as an estate agent, must have instructed an accredited Energy Assessor to carry out an energy performance assessment.
The EPC, which formed part of the HIP, is required under EU law and the fixed penalty for not providing one is £200.
While the abolition of HIPs is generally welcomed, spare a thought for the thousands of people involved in the production of the packs, many of whom may lose their jobs, although providers could still have a part to play in the market as buyers and sellers will require EPCs.
Still confused?
If you are planning to buy or sell property and you simply want a hassle-free and fast move, talk to the local experts at Fastmove – an initiative for faster and smoother home moves involving 25 law firms, 18 estate agents and many more local companies in the Plymouth travel to work area.
Look for the Fastmove logo which is your stamp of assured local quality and great value for money. Fastmove members are all committed to making your move as stress free and smooth as possible.
Further information can be found by visiting the new website at www.fastmove.info where there are helpful moving hints and links to all members. ...read more
01-06-10
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Moving Home... Should You Believe the Headlines?
Some recent media headlines will have made uncomfortable reading for homeowners, but should we in Plymouth believe the latest housing market hype?
The Mail talked of householders in a hurry to sell before the election ‘decimates’ the property market.
Closer to home, the Plymouth Herald reported that the election was ‘sparking a rush of houses on the market’.
But the reports behind the headlines do not appear have such a bleak outlook.
The housing market survey fuelling the media debate was released in April by the Royal Institution of Chartered Surveyors (RICS) and does indeed claim the number of people putting their homes on the market has picked up
But it also suggests house prices are continuing to rise and RICS members expect sales to increase, albeit at a slower pace, with prices likely to stabilise.
Property website Rightmove, which compiles prices of properties as they come on to the market, attributes the increase in vendor activity to the return of previously snowbound sellers, rather than the election.
It agrees prices are at a standstill, but cites a first quarter price gain of 3.7 per cent despite the impact of the severe weather at the start of 2010.
So, what is the true picture locally?
James Clarke, Director of Plymouth-based Lang & Co, says: “Our levels of instructions have remained pretty constant - we certainly haven’t seen a dramatic influx of properties on the market due to the election.
“For most people it is life that dictates when they need to move – such as new babies or children starting school– rather than any political agenda.
“Where we have seen policy affecting buying behaviour is with the recent stamp duty changes encouraging first time buyers to purchase properties above the previous £125,000 threshold.
“Spring is traditionally a buoyant time for the market, especially for larger properties and we have had a number of really high quality instructions in recent weeks.
“I would say prices remain stable which is quite positive for all of us – we don’t want peaks and troughs – and as long as the election doesn’t bring major changes to incomes or taxes I can’t foresee it having a dramatic effect.”
So if you’re thinking of moving, don’t let the headlines put you off! Talk to the local experts at Fastmove – an initiative for faster and smoother home moves involving 25 law firms, eighteen estate agents and many more local companies in the Plymouth travel to work area.
Further information can be found by visiting the new website at www.fastmove.info where there are helpful moving hints and links to all members. ...read more
01-04-10
Would you use a supermarket to sell your home?
01-03-10
Property matters - Motives for moving
01-03-10
