Newland Rennie Wilkins | nrwproperty.com -

(on behalf of Collingbourne Demolition)

FOR SALE BY AUCTION
(without reserve)

WEDNESDAY 12th NOV @ 2PM

At Newport Cattle Market Car Park
Lower Dock Street, Newport
On view day of sale only from 9am

Ifor Williams 16ft tri-axle Trailer with ramps & winch, Sanderson 622 Teleporter, 1997 Landrover Discovery mot & tax. Belle Concrete Mixer, 10’ft steel lock-up cabin. 250 gallon fuel bowser.
Steel: RSJ’s, Angle Iron, Box Section, Tube etc, gates, Steel lean-to building (dismantled) steel work only. Colour coated roof sheets, Aga Cooker,
Timber: 3 x 2, 4 x 2, 5 x 2, 7 x 2, 9 x 2, 9 x 3, plywood sheets etc, etc

Contact: Caldicot Office: 01291 420388

ON BEHALF OF THE FORESTRY COMMISION
AND
PRIVATE TIMBER GROWERS
IN 52 LOTS

TOTALLING ABOUT 23,400 cu.m
Standing Hardwood 16,107 cu.m
Hardwood Logs 5,375 cu.m
Softwood1 1,981 cu.m

from the following areas;

Carmarthenshire, Conwy, Cumbria, Derbyshire, Dorset, Gloucestershire, Hampshire, Herefordshire, Kent, Lincolnshire, Norfolk, Northamptonshire, North Yorkshire, Powys, Somerset, Staffordshire, Surrey, Torfaen, West Sussex, Worcestershire and Wiltshire.

PLEASE NOTE CHANGE OF VENUE

to be held at

THE GREAT OAK HALL
WESTONBIRT ARBORETUM
TETBURY
GLOUCESTERSHIRE

ON THURSDAY 27TH NOVEMBER 2008 AT 2PM

Newland Rennie Wilkins
87 Monnow Street
Monmouth
NP25 3EW

Tel 01600 712916
Fax 01600 712764

email auctioneers@nrwproperty.com

Click Here to Download 'Web Summary 2008' (66Kb PDF)

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at Woodland View - a Prestigious New Housing Development At Blaenavon World Heritage Site, Varteg Road, Blaenavon by Brickyard Homes Ltd.

High Quality Three, Four & Five Bedroom Homes From £179,950

PHASE 1 - First Release Of 12 Detached & Semi Detached Houses Winter 2007

PHASE 2 - released January 2008

All Enquiries To:

Newland Rennie Wilkins
5 Monmouth Walk, Cwmbran, NP44 1PE
Tel: (01633) 868341
E-mail: cwmbran @ nrwproperty.com

More Information

Estate agents’ market valuations are usually free, and because of this, it is very tempting for prospective sellers to invite a number of agents to comment and then select the agent that suggests the highest likely sale price for the property.

However, we advise caution on this issue. Some agency valuers are paid bonus on the number of new instructions they secure, irrespective of the saleability of the property offered for sale at their suggested value. The easiest way for an estate agency valuer to win a seller’s business is simply to suggest a flatteringly high figure, but many people who fall into this trap live to regret it.

One of the problems is that most people have only a cursory idea of what estate agents actually do and, just as importantly, what values they cherish and what service they offer. Ironically, it tends to be the cheaper, untrained or inexperienced agents who quote the highest values, yet it is the well-trained, experienced agents who have the skills to secure the best prices for their clients in the shortest time.

So when selecting your estate agent, by all means invite several to comment on value, but then choose the agent who demonstrates mastery, and who actually has a marketing plan in place, along with superb post-offer follow-up facilities.

Additionally, find an agent that you like! One who has the integrity to offer straight-talking advice and who uses superb communication skills to keep you informed every step of the way, before, during and after the sale, thereby minimising the stress of moving.

In estate agency, a high valuation does not always indicate a good value service!

Some vendors feel that if they have "missed" the spring market, they should wait until September before selling their property; but there are solid reasons for marketing your home during the summer.

Firstly, your house is likely to look its very best. The bright days and long evenings mean that your accommodation will look light and airy, and any views from the house will be accentuated. Your garden will be in full bloom and adds real value to the purchaser's perception of your home - they won't just be looking at rooms! If it is a family house, children's slide/swings etc. can only make the house feel more like a home - a real hot button for the family buyer.

Longer evenings also mean that the opportunity for positive viewings is extended, as partners can view together.

Serious buyers do not let holidays, sports, etc. get in their way and are sometimes frustrated by the reduction in choice, as other sellers withdraw their homes. Those with children may be under some pressure to secure a property before the new school year and, as a result, could be prepared to pay a high price in return for a swift completion date.

September is also a popular time for those moving jobs. They will certainly be hoping to complete towards the end of the summer so they can get the move out of the way before putting all their energies into their new position.

So, if you are considering the possibility of selling, or know someone else who is, why not help us supply the demand that we are experiencing this summer by contacting your local branch today. It could pay you handsomely.

Our home satisfies our basic human needs such as sleeping, relaxing, washing, recreation, as well as family time, reading, watching TV, leisure, etc.. But it is possibly eating which is the focus of home life. This basic need that punctuates our day provides a social focus for families and couples the world over.

Whilst many properties have a formal dining room for “special occasions”, it is without doubt the kitchen that forms the central hub of home life. The kitchen is where the family meets first thing in the morning and on return from work or school. It is the place through which everyone passes as they go about their business, where keys are hung, mail is put, newspapers read, and phone-calls answered.

As a place of utility, the kitchen also fulfils a huge role that incorporates storage, washing, cooking, and entertaining. The quality of the kitchen can determine whether a property can be regarded as modernised or unmodernised, and it is little wonder that so much money is spent on kitchen design and fitting.

When we prepare our property details, we find a colour photograph of a well-presented kitchen particularly appeals to purchasers. So when you come to sell, make sure that your kitchen is looking its very best.

Older kitchens can be given a new lease of life with new doors fitted to the original carcases, but keep the colour scheme conservative if you wish to appeal to the widest range of prospective purchasers. As the floor-space is likely to be relatively small, a new high quality floor covering, be it vinyl, wood-strip or tile, need not cost the earth.

Please feel free to contact us your local branch if you require advice about improving your kitchen to maximise you sale prospects.

We recently came across this poem about investing in property, and thought you might find it interesting. Once you have read it, and only then, take a look at the date of first publication. Makes you think!

“PROPERTY INFLATION”

I hesitate to make a list
Of all the countless deals I’ve missed.
Bonanzas that were in my grip
I watched through my fingers slip.
The windfalls that I should have caught
Were lost, because I over-thought.
I thought of this, I thought of that
I could have sworn I smelled a rat;
And whilst I thought things over twice
Another grabbed them at the price.

It always seems I hesitate
Then make my mind up much too late
A very cautious man am I
And that is why I never buy.

How Nassau and how Suffolk grew
New Jersey, Statten Island too
When others culled those sprawling farms
And welcomed deals with open arms
A corner here, ten acres there
Compounding values year by year
I chose to think,
And as I thought
They bought the deals I should have bought

The golden chances I had then, are lost
And will not come again
Today I cannot be enticed
For everything’s so overpriced
The deals of yesteryear are dead
The market’s soft
And so’s my head

At times a teardrop drowns my eye
For deals I had, but did not buy
And now life’s saddest words I pen
“If only I’d invested then!”

Farm and Land Realtor Magazine
October 1917

Once again the government has changed its mind regarding the introduction of Home Information Packs - just days before they were due to become mandatory.

As predicted, Ruth Kelly, the Communities Secretary, announced on 22nd May that in view of the fact that there are only 520 fully accredited Domestic Energy Assessors (DEAs) in place - and 2000+ needed - the introduction of mandatory packs would be put back until 1st August – and then only phased-in, starting with homes with at least four bedrooms.

Assuming no further U-turns, which cannot be ruled out, this deferral will allow more time for the 2500 DEAs currently in training to become fully accredited.

One positive aspect of the revised regulations is that there will no longer be any delay in marketing, as a property can now be offered for sale as long as a HIP has actually been commissioned.

This U-turn is also likely to have a stabilising effect on the property market overall. With property prices already under pressure, the rush of properties coming onto the market prior to June 1st in order to avoid a HIP, combined with recently raised interest rates, was further weakening the market.

As estate agents our job is to help people move – smoothly and quickly. The concept of obtaining as much information in advance of finding a buyer is well founded and deserves our support, together with any environmental measures - but it must be fair to buyer and seller alike, and be workable. This delay, and the further consultation that will inevitably now take place, must result in the Pack, in whatever form it takes, achieving all those well-intentioned aims.

From 1st June the law requires sellers of residential property or their estate agents to have a HIP before putting their homes up for sale. Estate agents can only market a home if they have a valid HIP for that property to give to potential buyers – marketing includes anything that generally makes it known that the property is for sale.

A Pack contains the following compulsory documents: - Index, Sales Statement, Official Copies of the Land Registry Title documents and Plan, Energy Performance Certificate (EPC), Local Authority Searches, Water and Drainage Search, Copies of any leases or licences and for Leasehold properties certain other documents are required, including the lease, 3 years service charge accounts, the most recent ground rent, service charge and insurance charge requests, and the landlord/managing agent’s details.

The documents that have to be included in a Pack from the first day of marketing include the index, the EPC, the sales statement and evidence of title. For the other compulsory documents – local property searches and certain documents for leasehold properties – the Government is initially allowing flexibility. Marketing can begin provided the missing documents are added to the Pack as soon as possible. However, there must be evidence in the Pack that these documents have already been ordered.

Non-compulsory documents could include a Home Condition Report, Seller’s Property Information Form, Fixtures, Fittings and Contents Form, Legal Summary and additional searches such as Environmental Searches.

HIPs have the following suggested benefits: - They speed up the sale, save on wasted legal fees, produce more reliable offers from committed buyers, reduce ‘fall-throughs’, prevent gazumping and help the environment.

Next week we will continue to look at HIPs. Meanwhile….

The Government is introducing HIPs, as part of wider reforms to cut carbon emissions from homes and to improve home buying and selling – it has obligations under the Kyoto Protocol and is committed to all new homes being zero carbon within 10 years. The current proposals need to be seen as the beginning of the journey and not the destination.

A HIP is a set of documents providing important information about a property, such as its energy efficiency (in the form of an Energy Performance Certificate - EPC), searches and copies of the deeds. Previously, much of this essential information only came to light when an offer had been made and accepted - in the meantime, buyers were negotiating in the dark and wasting money on legal fees and searches. Providing consumers with better information earlier in the process should make the home buying and selling process more efficient and transparent and EPCs should encourage us all to reduce carbon emissions from our homes – anything that can help on those two fronts has to be a good thing.

With some exceptions, all residential properties offered for sale from 1st June, even privately, will require a Pack, before they can be marketed. Properties on the market before 1st June, and remaining on the market after 1st June will not require one until 1st January 2008.

But, agents encouraging sellers to beat this deadline may be acting unwisely. After all, which property is a buyer more likely to want to view, a property with a HIP or a property without one? Further, a glut of instructions now could cause an in-balance between supply and demand – resulting in lower offers.

Next week, we will continue to look at HIPs. Meanwhile, if you have any queries, or concerns, regarding HIPs, please contact your local branch

Following a journey, which makes the Rocky Mountains look flat, the Home Information Pack legislation (HIP’s) – injured along the way and in diluted form, looks almost certain to become law on 1st June. Yet, there are two mountain ranges still to climb.

Firstly, doubt remains as to whether there will be enough Domestic Energy Assessors (DEA’s) to meet the demand – the Government are calling, daily, those bodies responsible for training to check the numbers – but with statistics suggesting that HIP’s will result in a short term drop in the number of houses being placed on the market by anything from 20% to a staggering 50%, it must be hard for the Government to estimate the number required. Our guess is that, rather than announce another ‘face losing’ delay, the Government will gamble. If they are wrong, the 1st June will be interesting but responsible Estate Agents will already have signed up with HIP providers who can guarantee delivery – those agents that haven’t maybe in for a shock.

And, secondly, the opposition parties in the House of Lords, where the Government cannot rely on a majority, have indicated that they may try one more time, in May, to scupper the plans.

But even beyond June, the uncertainty regarding the market’s reaction, its untested popularity with the consumer and the opposition of the Conservative and Liberal Democrat parties, suggests doubt as to whether HIP’s will still be in place come Christmas, next year or after the next election.

It has been against this backdrop, that HIP providers, Property Portals, Solicitors, Estate Agents, Training Colleges and thousands of members of the public qualifying as DEA’s have spent millions of pounds preparing themselves for the 1st June.

Next week we will look at HIP’s in more detail. In the meantime if anyone has any queries or concerns regarding HIP’s, please contact your local branch

Despite the effort that goes into preparing a property for sale, many people overlook the impact of good removal planning, and often leave the packing to the last moment. Here are a few suggestions that we hope will help you avoid some of the anxieties many people experience during this exciting but sometimes stressful time:

· Don’t wait until a buyer is found before getting a removal quote. In the same way that you should choose your estate agent with care, talk to several removal firms before deciding, without having to use the only one available on your chosen day.

· Friday is the most popular day to move house. However, removal companies tend to get booked up, and if there were to be a hiccup, would they work on the Saturday? Even if they would, the van might have been booked out to someone else and not be available to complete your move easily. So aim to move mid-week if at all possible.

· Completion dates are often agreed before exchange. Once you have a tentative date in mind ask the removal company to pencil in the date, subject to confirmation.

· You can save a lot of hassle by getting the removers to pack for you. But watch the quality of packing. Do they just put a pile of plates into a box, or do they wrap each one individually? Will they pack clothes in their existing chests/wardrobes etc., thereby saving space, or would they pack into boxes first, possibly at unnecessary cost?

· To be on the safe side, choose a removal company that is a member of BAR – the British Association of Removers.

Happy moving!

Buyers tell us that some estate agents waste an inordinate amount of time showing property that is either too expensive or blatantly wrong in other critical ways. Additionally, more than 30% of UK property-sales fall through due to buyer or seller suddenly changing their minds. Both these annoyances could be attributed to the agent not having gained a good understanding of buyer/sellers requirements, and/or not having earned the trust required to secure this understanding.

However, it would be beneficial to agent, buyer, and seller if a few fundamental issues were addressed prior to agreeing terms, which will help avoid false starts, additional expense and wasted time:

1. Ensure that you get your finances in order and know exactly how much you can borrow, with an “in principle” agreement from your lender.

2. Before viewing properties understand the difference between your preferred “wants” and absolute “needs”.

3. Locations can vary from one street to the next, and at different times of day. Consider school runs and pub times.

4. Do not make an offer on a property unless you are absolutely serious about making it your home. The seller’s expectations will be raised and you could damage your reputation as a genuine purchaser.

5. Don’t lie about your home. Be upfront about any defects or the reason for moving if you are to speed up the sale and reduce stress.

6. Don’t ignore the facts. If your home has been on the market for several months, it is likely to be overpriced. Promptly reposition it in the market before it goes stale.

7. If you’re unhappy with your agent – say so! Don’t be afraid to change agents, being careful to note any onerous contract terms, and don’t change more than once, or people will think it’s the property – not the agent!

When the time comes to sell, you naturally want your property to look its best, but how far should you go in terms of presentation?

Firstly, aim to understand how your property “sits” within the market. Not all buyers have the same buying criteria, so walk through the house with your estate agent to identify your property’s strengths and weaknesses. Look through the eyes of a typical likely buyer, and consider what aspects should be improved to enhance your chances of selling to that person.

For example, it may be that your home is in generally good condition, but the carpets let it down. Whilst you could take account of this in the price, new, or professionally cleaned, carpets can transform the presentation of a house and appeal to a purchaser who might otherwise be put off. However, if your property is in need of general updating, a new carpet could be a waste of money, as the likely purchasers may well be looking for a house that they can improve themselves.

Nevertheless, a simple coat of paint can generally do wonders, but be careful not to let it look as if you have simply “painted over the cracks”. If you are going to redecorate, then do it properly, as any surveyor, and many purchasers, might wonder “what else is there that they have tried to hide?” Honesty should always be the seller’s best policy!

Finally, whilst you may have updated your property when you moved in, your eventual buyer may have a completely different idea of current fashions, particularly with the flood of home improvement programmes currently washing over our TV screens. So make sure that any changes you make are in keeping with modern trends. Our experienced Sales Team members will happily advise you on this if required.

Most property vendors will recognise the tremendous importance of ensuring that as many prospective buyers as possible see their property. After all, more viewings means more buyer competition thereby maximising your chances of securing the highest price the market will pay.

However, whilst one always has to be fair, there is a lot to be said for strategic viewing! Good agents will advise their clients to be selective when arranging a time for prospective purchasers to view their home. After all, only the person who has lived in the property knows when the best times of day are. Here are a few tips:

· Is your property on a school route? If so, during term time, it might be best to avoid the morning and afternoon drop-off and pick up times. If you are very close to a school, is it noisy during break-time?

· Likewise are you near a pub, sports ground, or factory, which can have crowds of rowdy people spilling onto your street at certain times.

· Consider which way your property faces. Bright accommodation and a sunny garden are great selling points, so choose times when the position of the sun is at its best. Perhaps a follow-up viewing is best organised for a different time of day to highlight a feature that might have been missed initially.

Nevertheless, do remember that agents and vendors alike have a duty of care not to misrepresent, so if there is an issue, such as predictable noise at certain times of day, then this should be disclosed. However, the importance of a good first impression cannot be overstressed, to the extent that many people will dismiss a minor inconvenience in light of having first fallen in love with their otherwise perfect home – yours!

Spring is traditionally a time of change. Brighter and longer daylight hours make house-hunting easier for working people, and sellers naturally want their property to look its best. Job-hunters have by now settled into their new positions and feel confident about upgrading their home. The school year is approaching its final term, which focuses the mind of parents who wish to make a move before the new academic year begins. They also want to avoid the house being over-run with children when people view, so term-time is preferred. The timing of holidays also plays a major part, meaning that many people are unable to move in the height of summer.

This leaves a relatively small window within which to sell in these “ideal” conditions. However, the consequent increase in the number of new vendors can prove competitive, especially as these sellers themselves are not yet in a strong position to buy. This does not mean that a price fall is imminent. It is simply a reflection of a short-term over-supply that is usually corrected during the summer. The rule of thumb for sellers is simply this: investigate what else is available nearby and make sure your house competes favourably, either by presentation, ease of viewing, price or all of these.

So before the Spring syndrome sets in we would advise prospective vendors to consider putting their property on the market early, and then buy from a position of strength when there are more properties from which to choose.

Last week’s article looked at the pros and cons of buying a modern home. Here we consider the older property.

50% of residential properties in the UK were built before 1939. Their popularity has remained undiminished for decades, and many of our registered buyers express a preference for such “period” homes. As an investment, period properties will always be in demand, as you can never build a new old house! The attraction for many is in the character of the property, with each era delivering a distinctive building style such as Medieval, Georgian, Early Victorian, Late Victorian, Edwardian, etc.. For others it is the sense of history or unique points of interest such as an original fireplace, wall panelling, ceiling mouldings or the patina on an old door that could look out of place in a modern home. Also, the garden is likely to be well-established, with large trees and shrubs having been planted by previous owners.

Buyers with contemporary design ideas need not be put off by an older property, as many people now incorporate modern interior designs that can complement the character of a period home.

Of course, there are potential downsides to buying older properties that should be considered. Modern building standards are unlikely to have been met, so insulation, particularly around doors and windows could be an issue, and some attempts to replace these with modern equivalents, whilst being more efficient, can look out of place. Fire compliance and wheelchair access were seldom considered, and you never know what really lies beneath years of paint. Don’t necessarily be put off by some of the things that a surveyor might discover, but consider whether any dampness, cracks, rotten timbers or infestation are significant enough to affect your enjoyment of living in your new, or old, home.

Buyers tend to have fixed ideas about the style of home they would prefer to buy. Some would not buy anything but a “character home” whilst others prefer a brand new property. In this two-part article, we look at some advantages and disadvantages of each, starting with modern homes.

There are two types of modern properties – brand new and “second-hand”. Both have the advantage of being built to modern standards. For example, fire, ecological and insulatory considerations have improved dramatically over the past 30 years. The advantages of purchasing a brand new home as the first owner can include choice of plot/aspect, design, and finish of the property in liaison with the builder. There may also be part-exchange or other incentives to buy, and it’s great to be able to put your own stamp on an immaculate home.

Disadvantages include snaggings (unfinished bits and pieces), a garden that could take years to mature, and the inconvenience of possible other building works nearby, along with the associated muddy roads. Also, be careful not get caught up in the marketing hype of a new development, as values might not truly reflect local market conditions, but the developer’s ambitions. When you come to sell, will you be competing against Phase 2?

Buying a “second-hand” modern property is likely to have fewer surprises, as the first owner will have solved any teething problems (even small things like fitting a doorbell or exterior light) and may well have installed extras such as garden decking or Sky/Broadband connection points. Inroads will have been made into the headache of planning, stocking and cost of a new garden, and discounted carpets and curtains may possibly be included in the purchase price.

Next week’s article looks at the pros and cons of buying an older property.

When the time comes to sell, there is usually a need for speed. Isn’t it always the case that the minute you start to think about selling, you see the ideal property you want to buy?! The problem is that the chances of getting a chain-free sale on your own property to coincide with your dream purchase can sometimes be slim.

We always try to approach our clients’ needs from a solutions-driven perspective, and have recently helped a number of sellers move house quickly and profitably by encouraging them not to sell, but to rent out their existing property using a “let-to-buy” mortgage. Let-to-buy allows you to borrow money for your new home in the usual way, whilst your existing property is rented to tenants, with the rental income being used to cover your existing mortgage repayments. You can sometimes even raise further funds on your existing property to assist in the purchase of your new one.

Some mortgage companies will lend up to 85% of the existing property’s value and will want to ensure the achievable rental income is at least sufficient to cover the interest only mortgage payment.

Things to consider before embarking on a let-to-buy venture include tenant management and ongoing maintenance costs as well as certain tax and insurance implications, so it’s not for everyone. But let-to-buy is an excellent “chain-breaker” and can be an entry route to building a profitable portfolio of investment properties, which many people are currently incorporating into their pension planning.

If you would like to discuss this innovative approach to getting you moving faster and whether your property could be suitable, please feel free to contact your local branch. If you would also like to take advantage of our Lettings services for Tenant Find and/or Management please contact our Newport Lettings Dept. on 01633 225824. We’re here to help and our straight-talking advice is free.

In the current market it is more important than ever to ensure that your property is a highly saleable proposition, rather than one that makes another house look good by comparison. Of course, there are several basics that should be in place. The price needs to be as attractive as the décor, and you should aim to be flexible on things like fixtures, viewing times and completion dates. You need to be with a pro-active estate agency – not just one who simply lists your house and then waits for the market to deliver a buyer to your door. But there are other things that you can do, which have a significant bearing on whether a buyer will purchase your property instead of the one down the street.

A recent survey supports our own view that clutter in an otherwise delightful property can thwart an early sale. Over 76% of estate agents questioned said that de-cluttering your home is among the top three most important things a seller can do, and is an inexpensive way of dramatically increasing the perception of space. 68% of agents said that a thorough interior clean was important, followed by 48% who said that the garden should be tidied.

If you have lived in your property for a while, you can become oblivious to what is clutter and what is an asset to the presentation of the property. So it’s a good idea to ask a friend to help you sort the wheat from the chaff, and any decent estate agent will be happy to offer advice. But don’t just bung your superfluous possessions in the garage. Why not be rigorous and take a few carloads to one of our local charity shops? It can be a liberating exercise as well as a social benefit!

There are many styles of estate agency operating in the South East Wales area, and picking the right one to sell your property can be daunting. Over this series of articles we have made reference to a number of issues to consider so that you can make an informed choice when the time comes for you to sell.

Different agencies provide different services, yet some people are not aware of the indirect benefit that apparently unrelated services can offer. For example, choosing a selling agent who also does lettings could be the make or break of your sale! There are several reasons for this, as we can testify.

Firstly, as sales and lettings agents, we have long-term buy-to-let property investors permanently on our books who buy through us regularly. They know us, and they make quick decisions and reliable offers. They prefer to buy through an agency that does lettings because it is easy for them to let out their new investment, as we are often able to find a tenant who can move in immediately the property sale has completed.

Secondly, many of our tenants subsequently go on to buy a property. As we build a relationship with our tenants we are therefore in prime position to be able to help them buy one of our own clients’ properties.

Thirdly, there are times when a vendor decides not to sell, but to rent, or even pursue both routes simultaneously, in which case we are of course well positioned to handle both. Likewise, it is often the case that a prospective tenant decides to buy instead of renting, again adding to our stock of pre-qualified buyers.

So when the time comes to sell, pick a letter! It will improve your chances – and probably your price!

According to a recent report, 23% of Britons say that a quiet location is the number one consideration when choosing where to live. This rises to 32% amongst people in their 50s but surprisingly falls to 16% amongst Londoners. The second most important consideration (16%) is proximity to friends and family with 14% seek low crime, and 12% seeking good schools and universities in the area. Interestingly, only 1% of people cite the historic movement of house prices as being the most important factor when assessing the desirability of an area.

When looking to buy, everyone has their own personal preferences and motivations. Yet sellers sometimes panic when they read of the latest property preference if their own home does not precisely fit the trend. But don’t worry! Preferences are exactly that. Well-trained estate agents understand the difference between buyers’ wants and buyers needs. It is remarkable how many buyers citing a preference end up compromising on it, in order to satisfy a fundamental need. For example, people will generally prefer to move into a spacious property, even though it might not be perfect for them in other ways.

The most common compromise is price. The RICS confirms our view that 70% of buyers eventually pay 20% more than they had originally allocated. When pricing your home it is important to remember this, because it indicates that most of your likely buyers are registered in a lower price band. By pricing your property too ambitiously these prime buyers will not even view it, let alone make an offer, whereas those registered in your price bracket will probably buy a more expensive home.

Please feel free to call us if you would like to discuss this important aspect of pricing your property for sale in the current market.

In property terms, 2006 turned out to be a very stable year, with a generally good balance of both supply and demand, although more stock would have been helpful for those buyers who were frustrated by lack of choice. Under this regime property prices rose by a staggering 13% nationally, but subject to large regional variations and little increase in areas such as Newport. (source Rightmove).

Whilst most people’s New Year’s resolutions are already history, their property plans are now beginning to take shape. Many people who might have otherwise withdrawn their property from the market for the Christmas period found themselves in one of the most active winter markets ever. This means that there are now more buyers than expected on the market. They have sold their property and they are waiting for the Springtime flood of properties to become available. The advice would therefore be to consider selling before everyone else does if you are to take advantage of this!

In news terms, the recent surprise rise in interest rates was overshadowed by David Beckham’s move to the USA (interesting priorities as ever in the British press!). This did mean that there were fewer shock headlines than might have been expected, although the public is of course becoming somewhat immune to tabloid housing scare tactics. If this interest rate plays its part in keeping the lid on rampant property inflation, and the approaching Spring market sees increased activity, then it looks like we are set for another balanced year where people move for genuine reasons within the healthy environment of a mildly inflationary property market – widely predicted to be in the 4% - 6% range.

Needless to say, getting the right advice will always be paramount to maximising the opportunities available. So please feel free to call us for a private, no obligation, consultation to help you get the best out of 2007.

Many estate agents put substantial emphasis on their ability to find a buyer, and they highlight this as a primary reason to sell through them.

However, we believe in going far beyond this. In many ways, finding a buyer is the easy bit! Most switched-on agents have access to most of the buyers in the market, either via their local property newspaper advertising, their website, their boards or their existing database of registered buyers.

But the issue is not actually about selling. For most people it’s about moving. Selling your home is only one component of the process, and for most it is not as exciting as the buying component! Whilst an agent’s sales success and their investment in technology and advertising will always be important to vendors, there does seem to be a huge gap in estate agency that provides the reassurance homeowners deserve when they are moving.

On average 36% of sales arranged in England and Wales fall through prior to exchange of contracts (although our own fall-through rate is substantially below this). The chances of a sale failing to exchange can be considerably reduced if the seller’s agents are as concerned about the whole move in context as they are about the sale in isolation. So often, it is issues relating to linked sales or purchases that can be the cause of problems, be they legal, structural or emotional.

Our aim is to make the process of buying and selling be the celebration it should be, rather than the daunting process it often is. So when you speak to one of our property advisers, don’t be surprised to find them as interested in your moving plans as they are in your sale. Because that’s what relevant service is all about!

In an increasingly competitive market place, we know that as long as your property is priced attractively, it will sell. However, many people spend a fortune on improving their homes expecting at least the cost of the improvements to be returned to them via an increased sale price, which can be a mistake.

Our advice on this is to be careful. Certainly, improve your home to make it appeal to prospective buyers, but your primary objective should not necessarily be to add significant value, but to enhance saleability. This means making your property more desirable than the other properties currently on the market at about the same price.

You can make any property desirable simply by quoting a price which makes it look amazingly good value next to the others, which may themselves of course be overpriced. However, without throwing your money into subsidising someone’s purchase, there are simple things that can be done to make sure your property looks worth the money.

Much of it relates to lifestyle as much as it does to bricks and mortar. For example, a thorough spring clean complete with the smell of pine bleach in the loos suggests you’re proud of your home and care for it. Cost? Probably about 20p a shot!

How about a lick of paint on the doors? Stripped floorboards generally look better than worn carpets, and a day’s work in the garden pays real dividends. Try new light fittings or re-grouting the bathroom tiles. Also, remove any superfluous items from the garden and inside the property, keeping your storage areas tidy as well.

The key is not to rely on your prospective buyers’ intuition! Make it easy for them to imagine how pleasant it would be to live in your property, and you could well prompt an early sale.

The proliferation of property improvement and interior design programmes on TV has prompted a substantial increase in the number of buyers wishing to purchase a “dump” and “do it up” for a huge profit. Sadly those days have all but gone, and in some cases demand for such properties is putting such a premium on them that the purchase cost plus the cost of improvements can even exceed the “finished” value!

So we would urge a word of caution. If you are keen to put your own stamp on a property, it might be worth investigating those that are tired, but not necessarily totally un-modernised. Perhaps they were “modernised” twenty years ago and just need a cosmetic makeover. The structural aspects might well be all right if the property was comprehensively refurbished at the time. The roof should be fine for the next fifty years, the wiring fully compliant with current regulations (but check), the damp proof course in order, and the plasterwork sound.

But if your heart rules your head and these aspects have not been attended to in the recent past, then these are the things that will cause you the greatest headaches, time, considerable and often unforeseen expense and, particularly, personal upheaval and dust if you are living in the property.

We hear too many stories of people saying – “Oh, we’ll only have to re-plaster one wall”. Yet when the old plaster is removed, the ceiling comes down as well, revealing dangerous wiring and woodworm-infested timbers.

A general rule-of-thumb is that if something other than purely cosmetic needs attention – so does a whole lot more. This is where a cursory inspection by a builder prior to your purchase can pay dividends, so that you can spend your resources on exactly what you want, not what the property demands!

Nationally, the number of properties available, in relation to the number of buyers registered, is at its highest level for eight years. This means that buyers have a greater selection of properties from which to choose, prompting them to be increasingly selective and cautious before settling on the “right” property.

If you are selling, this puts a huge onus on you to ensure that your property absolutely shines in relation to other properties that are competing for your buyers’ affections. This is not the time to listen to the fawning estate agent who tells you what you want to hear, particularly in relation to your asking price, in order to secure your “valued instruction”.

If your property is going to look good next to the others that are available, then pricing not only has to be correct – it has to be attractive. Imagine a £10 note. It is definitely worth £10 - but could you sell it for £10?! Probably not, but at £9 you would have people fighting over it to the extent that the price would probably rise!

Likewise, if your property is slightly better than others on the market, don’t offset this by quoting a slightly higher price! In other words, make your property the best in the market when compared to others at the same price, and the best-priced property when compared to others of the same size/location/condition.

Finally, listen to your agent’s advice. Only they have a good handle on buyers’ immediate requirements and, importantly, vital buyer information as to what else they have seen and how it compares with yours.

Sellers often approach us after an unsatisfactory experience with another agent, particularly in relation to poor levels of feedback following property viewings.

Surely, prompt and constructive feedback should be a fundamental part of any estate agent’s service to their clients! Only when agents understand what buyers think of a property can they deliver practical advice that will enhance its sale prospects. The agent and the seller should be working hand-in-hand to achieve the desired outcome, based significantly on buyers’ comments.

We also understand the seller’s anguish in simply not knowing whether a sale is imminent following a viewing.

Sometimes, feedback is obviously positive: “When can you move out?” is clearly a strong buying signal; “What are the neighbours like?”, “Could I bring my partner round?” or “Will you be leaving that cupboard?” certainly indicate that the property is a distinct possibility, and a good agent should be able to move this interest towards a firm offer.

Some feedback can be helpful in confirming whether the asking price is positioned correctly in the market. Buyers buy by comparison, and sometimes a swift price adjustment can be imperative to avoid the house going stale on the market. For example, “The property is too small for us” usually means, “We have seen larger houses for the same price”. “The street is too busy” usually means “We’ve seen similarly priced properties in quieter streets”.

Of course, many people are just being polite when they say, “We’ll think about it”, or “I’m sure you’ll find a buyer easily”. The key to good estate agency is identifying which comments point to a sale, which point to a negotiation, and which point to a problem with the price. And we think sellers deserve to know, via prompt and supportive feedback.

When investing in a property, you are not only buying bricks and mortar, but also the immediate surroundings, which are significantly influenced by your neighbours. Good neighbours can help sell a house and boost its value, whilst bad ones can knock as much as 10% off the price.

So when buying, it’s worth enquiring about a seller’s relationship with the neighbours, and sellers should always be transparent when answering a buyer’s inquiries, as an omission can lead to problems. One buyer successfully sued the previous owners of their property for not disclosing long-running problems with neighbours, and was awarded £67,500 in costs and compensation.

Although by no means a comprehensively reliable guide, the following pointers might help you avoid future headaches:

1. How well do the neighbours maintain their property and garden?
2. Could any bordering hedges be a potential sticking point? If so, investigate.
3. Find out if the surrounding properties are rented or owner-occupied. If rented, what is the turnover of residents, and are they likely to be as interested in maintaining a good relationship with their neighbours as an owner-occupier might be?
4. Are the neighbours planning any building work that might interfere with your personal space and privacy? There is nothing to stop you asking them!
5. Do they have loud parties? A walk-past on a Saturday night might be useful.
6. Do they have numerous loud children running round their garden on a sunny day when you want to enjoy your own garden?
7. Is there a pub or club that creates noise nearby?

Tidy, friendly and courteous neighbours undoubtedly contribute to a more pleasant living environment, so a little research before you buy can pay dividends and add not only to your enjoyment of your new home, but also to its value.

Good lighting and plenty of power points can transform a property, and most of us have at one time or another undertaken minor electrical work in the home and lived to tell the tale.

However new regulations have recently come into force whereby DIY enthusiasts should question the type of work involved, as it may require certification from a “competent person”.

Non-notifiable work such as changing existing light fittings and sockets remains outside the controls introduced under Part P of the Building Regulations, as does the replacement of single circuit wiring cable, unless these are in kitchens, bathrooms or outside.

However anything more substantial, including alterations to existing circuits, or installations of appliances in kitchens or bathrooms, such as an electric cooker or power shower must now be undertaken, or at least certified, by a officially competent person such as a qualified electrician, and a certificate issued.

Each year about 10 people die and 750 are injured as a result of faulty DIY wiring. Indeed the new legislation has been supported by Lib Dem MP Jenny Tongue, whose daughter died recently from an electric shock in her kitchen due to poor workmanship by her builder.

Failure to comply can not only render the offender to a fine of up to £5000, but also have a bearing on the saleability of your property, as you will not be able to provide the correct certificates for any notifiable work done. Still, at least you will be alive to tell the tale.

So keep an eye on the regulations or you could be in for a shock! You can get further information from www.odpm.gov.uk

The current market is as near a “normal” market as experienced estate agents have known for years in terms of the balance between properties available for sale and registered buyers.

However, unlike most “normal” markets, some sellers are not as committed to selling as they might be, and are prepared to remain on the market until what they regard as an acceptable offer comes along.

Likewise, some buyers, whilst generally remaining committed to a purchase, do not exhibit a great deal of urgency, and believe that they are entitled to submit a relatively low offer in the current market.

There are two issues here and we would advise caution to buyer and seller alike. Firstly, if, as a seller, your house fails to sell for whatever reason, it is probably priced too ambitiously for the current conditions. If you allow it to remain on the market at that price, it may well go stale on the market, resulting in an inevitable fall in price greater than a minor repositioning effected now.

From a buyer’s perspective, we suggest you focus on securing the right home for your needs, within your budget, more than on finding the greatest bargain. A percentage off the asking price is irrelevant if the asking price is too much to begin with, but a well-priced property is always in demand. Unless you act decisively, you could miss out. The rule of thumb is this; if you see a property that you can afford, which offers you the accommodation you need in an area you like, and you could be happy there, then snap it up, as the chances are that most of the other buyers in your price range will also want that property. Good value is good value - in any market.

As the evenings begin to draw in, sellers should take stock of their property if they are to maximise their chances of securing an early sale. Buyer activity is traditionally very good at this time of year, but your property still needs to compete well if it is to sell readily. Here are some tips, with our compliments:

· Kerb appeal. You only get one chance to make a first impression – so make it count, as buyers make instant judgements. Make sure lawns are neat and pathways swept.

· How about a coat of fresh paint for the front door, and a new doormat?

· Make sure gutters are free from debris and are draining properly. There are few things worse than waiting outside a house with a torrent of water threatening the back of your neck!

· People in coats are bulkier, so make sure your entrance hall is clear of bicycles, toys and wellies.

· Many people cruise past a property before making an appointment to view. So, on dark evenings, make it look like a home from the outside. Table lamps and soft lighting give an impression of cosiness and should be turned on mid afternoon. A “For Sale” board will also make the house easier to find.

· Ensure your windows are sparkling clean, as recent rain may have left them dirty, and maximise available daytime light by ensuring that curtains are fully open.

· Make sure the house is warm inside. You are selling a home after all, not just four walls and a roof.

Please feel free to contact your local branch for more marketing advice if you would like to sell your house this side of Christmas.

In any market, the conversation often revolves around the likely future of house prices. Will they go up, will they go down or will they remain stable? Even the most credible authorities tend to disagree on the direction of property prices and sales volume!

The problem is the source of data that is used to make assumptions about the market. For example, you could look at the latest Land Registry figures. These record the volumes and prices of sales that completed up to about four months after the sale was arranged. But a lot can happen in four months – interest rate changes and media influence can make a vast difference to buyer sentiment! You could look at the figures supplied by property portals such as Rightmove. These can be a more accurate reflection of the current situation because they interpret the relationship between the changes in the number of properties on the market and average asking prices, and the number of buyers registering within the previous month. However, asking prices are no reflection of sale prices! Then there are the figures provided by various Building Societies. However, many of these can include re-mortgage business, which is not a true reflection on open market value, and their figures often cover far too large an area to be precise.

As estate agents, we have to be acutely aware of what is happening in the LOCAL market at a given point in time. We have a huge responsibility to get it right for our clients first time, and we take that responsibility very seriously. Ultimately, we find that the most reliable indicators lie in our ability to interpret the needs and comments of our buyers at local level. After all, it is today’s buyers who determine the current value of your property!

The vast array of property-related TV programmes proliferating our screens is certainly an indication of our appetite for home improvement. Presumably this has something to do with pride of ownership and making the most out of an Englishman’s castle.

However, once they come to sell, many people are understandably more focused on the next property than they are on the one they are leaving, and it is surprising how many properties we see offered for sale where the vendor has not taken advantage of some simple things that can be done to increase their chances of selling whilst maximising their price.

Bear in mind that we are not just selling bricks and mortar, but an aspirational lifestyle, as most people purchase a better property than the one they are leaving.

A recent survey among estate agents identified key aspects of property presentation that they regard as important to get right when selling. 77% said that de-cluttering the interior was among their top three tips, 68% included a thorough interior clean, 48% highlighted the need to tidy the garden, 40% suggested neutral decoration, 35% recommended a fresh coat of exterior paint, and 24% felt a new kitchen or bathroom was important.

Interestingly, gadgets, technology and security features ranked very low, with less than 1% of agents citing these as important, presumably as these are things that can easily be added at a later date as required.

It is interesting to note that the above figures overwhelmingly point to the need to create a strong first visual impression, and this concurs with our own findings that whilst buyers do not always know precisely what they want, they certainly know it when they see it.

The system of property transfer in this country is relatively archaic when compared to those of most other countries. The variety of age and tenure of UK property forms a complex framework on which sit further complications such as easements, rights of way, restrictive covenants, planning restrictions, building consents, possessory titles and disputed boundaries.

The government’s proposed Home Information Pack (or HIP) is scheduled to be introduced in 2007, and will go some way towards streamlining the moving process by calling for information in advance of a sale. However, there is no doubt that there will always be a need for an efficient and effective solicitor or conveyancer to handle the considerable legal work before, during and after exchange of contracts.

But, just like estate agents, there are good solicitors and there are not-so-good ones. They all do the job of getting you moved, but some are more fastidious than others. This can be to your advantage, or it can be a problem. A really thorough solicitor will scrutinise every clause in every document and alert you to things a slap-dash solicitor might have missed. For example, you could find yourself liable to pay for the upkeep of a road that was assumed to be public highway, but turned out to be private!

However, a particularly thorough solicitor, or an overworked, understaffed one, can also sometimes be the slowest. Where there is a competing buyer hot on your heels, speed can be absolutely critical. Slow conveyancing is one of the biggest causes of sales falling through, because it provides a greater window of opportunity for someone to pull out of a sale for a variety of reasons.

So when considering which solicitor to use, just like estate agents, don’t simply judge them on the fee they charge, but seek a recommendation from someone who has moved recently – it could save your sale or purchase.

“Location, location, location” may be the cornerstone of wise property investment, yet many people are unaware of the importance of location in making the right choice of estate agent – whether buying or selling.

Estate agency is an intensely local business. It is essential that agents are fully conversant with the issues of the day relating to the buying and selling of property within what is often no more than a mile or two from their office. Preferably they should themselves be resident in the area in which they are selling.

At Newland Rennie Wilkins, we are more conscious than most of the overriding importance of providing a local service, delivered passionately by local people. Perhaps this is one of the reasons why we enjoy such a good atmosphere in our offices. Most of our staff, including the partners live in South East Wales, and most of them have been with us for many years.

This combination of experience and local expertise delivers an unsurpassed and intense market knowledge of the immediate South East Wales area, meaning that property buyers and sellers can expect to receive the most relevant and up to date comment and opinion when it comes to property valuation, market intelligence and strategic marketing advice.

In our experience, too many estate agencies simply have token representation in the area, with a mobile workforce managed by remote directors concentrating on building an empire, rather than earning the loyalty and respect of local people over the years.

We believe that close customer contact, regular communication and straight-talking expert advice is what the public deserves. This can only be delivered via a wholeheartedly independent and thoroughly local estate agency with its clients’ best interests at heart. As a buyer or seller you have a choice of agency, so choose wisely! Choose Newland Rennie Wilkins.

We are often asked to look at properties that really should have sold, but haven’t, and we understand the disappointment of vendors whose experience of the sales process has fallen short of their expectations. We usually find that it’s the way that the average estate agent communicates that causes the frustration – not necessarily a lack of buyers. So if you find yourself with a property that appears to be sticking, you might like to determine the reason by asking yourself the following questions:

· Is your agent as enthusiastic as the day he/she listed your property?

· Do they keep you regularly updated with constructive feedback immediately following a viewing?

· Do they phone you, or do you have to chase them?

· Do they accompany viewings to make sure they are maximising buyer contact and feedback opportunities?

· Do they keep you informed of what is available and actually selling in the area – and not just their own stock?

· Have they provided you with practical marketing advice in terms of how to present your property for sale?

· Do they regularly advertise properties similar to your own in order to attract a variety of buyers?

· Do you feel like a valued customer with an important property, or one of a number of instructions on their books?

· Are they blaming a slower market, or taking responsibility?

If the above rings any bells, it might be worth rethinking your sales strategy with a refreshing kick start before your property goes stale on the market. Why not give us a call before it’s too late?*
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*If you are currently under an existing sole agency agreement, you should consider the terms of that agreement before appointing another agency, as you could possibly render yourself liable for the payment of two commissions.

We are pleased to announce that we have expanded the service we offer our clients with the opening of our associated office at: -

66 Great Cumberland Place
Marble Arch
London
W1H 7BL

Telephone 0207 298 0308
Email london@nrwproperty.com

Situated in a prime location in London’s West End, our office provides access to the London property market, where properties can now be marketed to London customers, including Investor and International buyers.

The office provides a professional presentation for our properties, including a comfortable property browsing area, a PC and Internet facility with large wall mounted flat screen for accessing and browsing our website and a media room for presentations/promotions and client meetings.

The location puts our clients’ properties at potential buyer’s immediate fingertips offering maximum exposure, nationwide from Central London.

To give your property the very best opportunity of achieving the highest possible price, please contact your local Newland Rennie Wilkins office for a free market appraisal

Before selling your property it is obviously worthwhile doing whatever is reasonably possible to make your home look appealing to prospective purchasers.

Certainly when it comes to making an immediate difference, most people understandably go straight to giving the internal walls a new coat of paint. But beware – a quick “tart-up” job can look just that, and can mar your chances of a sale should you decide to sell in the foreseeable future.

So here are a few tips to consider when repainting your walls:

1. Surface preparation is paramount.

2. Prepare and paint in daylight if possible, but take note of how your lighting can throw unsightly shadows across even minor blemishes.

3. Hack out any badly filled areas or significant cracks and fill with a fine plaster-based filler. Acrylic fillers are more flexible but unless you smooth them fully at the time, some brands cannot be sanded flush afterwards.

4. If a wall has a lot of filled areas, give it a white “mis-coat” before applying the final colour. This allows you to see any missed imperfections much more easily. Sometimes it is worth getting a plasterer in to apply a skim coat for a perfect finish.

5. Don’t expect that the paint will fill hairline cracks. Fill them with fine filler.

6. Avoid papering over imperfect walls with textured or wood-chip paper. These are not popular with buyers as they suggest a cheap cover-up.

7. As some staining can show through emulsion, so use a non-gloss oil-based coat on these areas before applying emulsion.

Painting is the easy bit. It is the preparation that takes the time. But it’s worth it, as you will have a finish that lasts at least until you realise you don’t actually like the colour, or you have moved!

Sale of Building Materials¸ Steel¸ Timber¸ Salvage etc.
	(on behalf of Collingbourne Demolition) FOR SALE BY AUCTION (without reserve) WEDNESDAY 12th NOV @ 2PM At Newport Cattle Market Car Park Lower Dock Street, Newport On view day of sale only from 9am Ifor Williams 16ft tri-axle Trailer with ramps & winch, Sanderson 622 Teleporter, 1997 Landrover Discovery mot & tax. Belle Concrete Mixer, 10’ft steel lock-up cabin. 250 gallon fuel bowser. Steel: RSJ’s, Angle Iron, Box Section, Tube etc, gates, Steel lean-to building (dismantled) steel work only. Colour coated roof sheets, Aga Cooker, Timber: 3 x 2, 4 x 2, 5 x 2, 7 x 2, 9 x 2, 9 x 3, plywood sheets etc, etc Contact: Caldicot Office: 01291 420388
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HARDWOOD TIMBER AUCTION
	ON BEHALF OF THE FORESTRY COMMISION AND PRIVATE TIMBER GROWERS IN 52 LOTS TOTALLING ABOUT 23,400 cu.m Standing Hardwood 16,107 cu.m Hardwood Logs 5,375 cu.m Softwood1 1,981 cu.m from the following areas; Carmarthenshire, Conwy, Cumbria, Derbyshire, Dorset, Gloucestershire, Hampshire, Herefordshire, Kent, Lincolnshire, Norfolk, Northamptonshire, North Yorkshire, Powys, Somerset, Staffordshire, Surrey, Torfaen, West Sussex, Worcestershire and Wiltshire. PLEASE NOTE CHANGE OF VENUE to be held at THE GREAT OAK HALL WESTONBIRT ARBORETUM TETBURY GLOUCESTERSHIRE ON THURSDAY 27TH NOVEMBER 2008 AT 2PM Newland Rennie Wilkins 87 Monnow Street Monmouth NP25 3EW Tel 01600 712916 Fax 01600 712764 email auctioneers@nrwproperty.com Click Here to Download 'Web Summary 2008' (66Kb PDF) Click Here to Download 'Prelim Catalogue 2008' (490Kb PDF) N.B. You may need to download the Free Adobe Reader program to view PDF files if it is not already installed on your computer. If so please Click Here Download Catalogue [490kb PDF]
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SHOW HOME OPEN BY APPOINTMENT FROM JUNE 28TH 2008
	at Woodland View - a Prestigious New Housing Development At Blaenavon World Heritage Site, Varteg Road, Blaenavon by Brickyard Homes Ltd. High Quality Three, Four & Five Bedroom Homes From £179,950 PHASE 1 - First Release Of 12 Detached & Semi Detached Houses Winter 2007 PHASE 2 - released January 2008 All Enquiries To: Newland Rennie Wilkins 5 Monmouth Walk, Cwmbran, NP44 1PE Tel: (01633) 868341 E-mail: cwmbran @ nrwproperty.com More Information
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Value
	Estate agents’ market valuations are usually free, and because of this, it is very tempting for prospective sellers to invite a number of agents to comment and then select the agent that suggests the highest likely sale price for the property. However, we advise caution on this issue. Some agency valuers are paid bonus on the number of new instructions they secure, irrespective of the saleability of the property offered for sale at their suggested value. The easiest way for an estate agency valuer to win a seller’s business is simply to suggest a flatteringly high figure, but many people who fall into this trap live to regret it. One of the problems is that most people have only a cursory idea of what estate agents actually do and, just as importantly, what values they cherish and what service they offer. Ironically, it tends to be the cheaper, untrained or inexperienced agents who quote the highest values, yet it is the well-trained, experienced agents who have the skills to secure the best prices for their clients in the shortest time. So when selecting your estate agent, by all means invite several to comment on value, but then choose the agent who demonstrates mastery, and who actually has a marketing plan in place, along with superb post-offer follow-up facilities. Additionally, find an agent that you like! One who has the integrity to offer straight-talking advice and who uses superb communication skills to keep you informed every step of the way, before, during and after the sale, thereby minimising the stress of moving. In estate agency, a high valuation does not always indicate a good value service!
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Summer
	Some vendors feel that if they have "missed" the spring market, they should wait until September before selling their property; but there are solid reasons for marketing your home during the summer. Firstly, your house is likely to look its very best. The bright days and long evenings mean that your accommodation will look light and airy, and any views from the house will be accentuated. Your garden will be in full bloom and adds real value to the purchaser's perception of your home - they won't just be looking at rooms! If it is a family house, children's slide/swings etc. can only make the house feel more like a home - a real hot button for the family buyer. Longer evenings also mean that the opportunity for positive viewings is extended, as partners can view together. Serious buyers do not let holidays, sports, etc. get in their way and are sometimes frustrated by the reduction in choice, as other sellers withdraw their homes. Those with children may be under some pressure to secure a property before the new school year and, as a result, could be prepared to pay a high price in return for a swift completion date. September is also a popular time for those moving jobs. They will certainly be hoping to complete towards the end of the summer so they can get the move out of the way before putting all their energies into their new position. So, if you are considering the possibility of selling, or know someone else who is, why not help us supply the demand that we are experiencing this summer by contacting your local branch today. It could pay you handsomely.
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Kitchens..
	Our home satisfies our basic human needs such as sleeping, relaxing, washing, recreation, as well as family time, reading, watching TV, leisure, etc.. But it is possibly eating which is the focus of home life. This basic need that punctuates our day provides a social focus for families and couples the world over. Whilst many properties have a formal dining room for “special occasions”, it is without doubt the kitchen that forms the central hub of home life. The kitchen is where the family meets first thing in the morning and on return from work or school. It is the place through which everyone passes as they go about their business, where keys are hung, mail is put, newspapers read, and phone-calls answered. As a place of utility, the kitchen also fulfils a huge role that incorporates storage, washing, cooking, and entertaining. The quality of the kitchen can determine whether a property can be regarded as modernised or unmodernised, and it is little wonder that so much money is spent on kitchen design and fitting. When we prepare our property details, we find a colour photograph of a well-presented kitchen particularly appeals to purchasers. So when you come to sell, make sure that your kitchen is looking its very best. Older kitchens can be given a new lease of life with new doors fitted to the original carcases, but keep the colour scheme conservative if you wish to appeal to the widest range of prospective purchasers. As the floor-space is likely to be relatively small, a new high quality floor covering, be it vinyl, wood-strip or tile, need not cost the earth. Please feel free to contact us your local branch if you require advice about improving your kitchen to maximise you sale prospects.
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“PROPERTY INFLATION”
	We recently came across this poem about investing in property, and thought you might find it interesting. Once you have read it, and only then, take a look at the date of first publication. Makes you think! “PROPERTY INFLATION” I hesitate to make a list Of all the countless deals I’ve missed. Bonanzas that were in my grip I watched through my fingers slip. The windfalls that I should have caught Were lost, because I over-thought. I thought of this, I thought of that I could have sworn I smelled a rat; And whilst I thought things over twice Another grabbed them at the price. It always seems I hesitate Then make my mind up much too late A very cautious man am I And that is why I never buy. How Nassau and how Suffolk grew New Jersey, Statten Island too When others culled those sprawling farms And welcomed deals with open arms A corner here, ten acres there Compounding values year by year I chose to think, And as I thought They bought the deals I should have bought The golden chances I had then, are lost And will not come again Today I cannot be enticed For everything’s so overpriced The deals of yesteryear are dead The market’s soft And so’s my head At times a teardrop drowns my eye For deals I had, but did not buy And now life’s saddest words I pen “If only I’d invested then!” Farm and Land Realtor Magazine October 1917
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Home Information Packs (HIPs) - Part 4
	Once again the government has changed its mind regarding the introduction of Home Information Packs - just days before they were due to become mandatory. As predicted, Ruth Kelly, the Communities Secretary, announced on 22nd May that in view of the fact that there are only 520 fully accredited Domestic Energy Assessors (DEAs) in place - and 2000+ needed - the introduction of mandatory packs would be put back until 1st August – and then only phased-in, starting with homes with at least four bedrooms. Assuming no further U-turns, which cannot be ruled out, this deferral will allow more time for the 2500 DEAs currently in training to become fully accredited. One positive aspect of the revised regulations is that there will no longer be any delay in marketing, as a property can now be offered for sale as long as a HIP has actually been commissioned. This U-turn is also likely to have a stabilising effect on the property market overall. With property prices already under pressure, the rush of properties coming onto the market prior to June 1st in order to avoid a HIP, combined with recently raised interest rates, was further weakening the market. As estate agents our job is to help people move – smoothly and quickly. The concept of obtaining as much information in advance of finding a buyer is well founded and deserves our support, together with any environmental measures - but it must be fair to buyer and seller alike, and be workable. This delay, and the further consultation that will inevitably now take place, must result in the Pack, in whatever form it takes, achieving all those well-intentioned aims.
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Home Information Packs (HIPs) - Part 3
	From 1st June the law requires sellers of residential property or their estate agents to have a HIP before putting their homes up for sale. Estate agents can only market a home if they have a valid HIP for that property to give to potential buyers – marketing includes anything that generally makes it known that the property is for sale. A Pack contains the following compulsory documents: - Index, Sales Statement, Official Copies of the Land Registry Title documents and Plan, Energy Performance Certificate (EPC), Local Authority Searches, Water and Drainage Search, Copies of any leases or licences and for Leasehold properties certain other documents are required, including the lease, 3 years service charge accounts, the most recent ground rent, service charge and insurance charge requests, and the landlord/managing agent’s details. The documents that have to be included in a Pack from the first day of marketing include the index, the EPC, the sales statement and evidence of title. For the other compulsory documents – local property searches and certain documents for leasehold properties – the Government is initially allowing flexibility. Marketing can begin provided the missing documents are added to the Pack as soon as possible. However, there must be evidence in the Pack that these documents have already been ordered. Non-compulsory documents could include a Home Condition Report, Seller’s Property Information Form, Fixtures, Fittings and Contents Form, Legal Summary and additional searches such as Environmental Searches. HIPs have the following suggested benefits: - They speed up the sale, save on wasted legal fees, produce more reliable offers from committed buyers, reduce ‘fall-throughs’, prevent gazumping and help the environment. Next week we will continue to look at HIPs. Meanwhile….
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Home Information Packs (HIPs) - Part 2
	The Government is introducing HIPs, as part of wider reforms to cut carbon emissions from homes and to improve home buying and selling – it has obligations under the Kyoto Protocol and is committed to all new homes being zero carbon within 10 years. The current proposals need to be seen as the beginning of the journey and not the destination. A HIP is a set of documents providing important information about a property, such as its energy efficiency (in the form of an Energy Performance Certificate - EPC), searches and copies of the deeds. Previously, much of this essential information only came to light when an offer had been made and accepted - in the meantime, buyers were negotiating in the dark and wasting money on legal fees and searches. Providing consumers with better information earlier in the process should make the home buying and selling process more efficient and transparent and EPCs should encourage us all to reduce carbon emissions from our homes – anything that can help on those two fronts has to be a good thing. With some exceptions, all residential properties offered for sale from 1st June, even privately, will require a Pack, before they can be marketed. Properties on the market before 1st June, and remaining on the market after 1st June will not require one until 1st January 2008. But, agents encouraging sellers to beat this deadline may be acting unwisely. After all, which property is a buyer more likely to want to view, a property with a HIP or a property without one? Further, a glut of instructions now could cause an in-balance between supply and demand – resulting in lower offers. Next week, we will continue to look at HIPs. Meanwhile, if you have any queries, or concerns, regarding HIPs, please contact your local branch
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Home Information Packs (HIPs) - Part 1
	Following a journey, which makes the Rocky Mountains look flat, the Home Information Pack legislation (HIP’s) – injured along the way and in diluted form, looks almost certain to become law on 1st June. Yet, there are two mountain ranges still to climb. Firstly, doubt remains as to whether there will be enough Domestic Energy Assessors (DEA’s) to meet the demand – the Government are calling, daily, those bodies responsible for training to check the numbers – but with statistics suggesting that HIP’s will result in a short term drop in the number of houses being placed on the market by anything from 20% to a staggering 50%, it must be hard for the Government to estimate the number required. Our guess is that, rather than announce another ‘face losing’ delay, the Government will gamble. If they are wrong, the 1st June will be interesting but responsible Estate Agents will already have signed up with HIP providers who can guarantee delivery – those agents that haven’t maybe in for a shock. And, secondly, the opposition parties in the House of Lords, where the Government cannot rely on a majority, have indicated that they may try one more time, in May, to scupper the plans. But even beyond June, the uncertainty regarding the market’s reaction, its untested popularity with the consumer and the opposition of the Conservative and Liberal Democrat parties, suggests doubt as to whether HIP’s will still be in place come Christmas, next year or after the next election. It has been against this backdrop, that HIP providers, Property Portals, Solicitors, Estate Agents, Training Colleges and thousands of members of the public qualifying as DEA’s have spent millions of pounds preparing themselves for the 1st June. Next week we will look at HIP’s in more detail. In the meantime if anyone has any queries or concerns regarding HIP’s, please contact your local branch
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Removals
	Despite the effort that goes into preparing a property for sale, many people overlook the impact of good removal planning, and often leave the packing to the last moment. Here are a few suggestions that we hope will help you avoid some of the anxieties many people experience during this exciting but sometimes stressful time: · Don’t wait until a buyer is found before getting a removal quote. In the same way that you should choose your estate agent with care, talk to several removal firms before deciding, without having to use the only one available on your chosen day. · Friday is the most popular day to move house. However, removal companies tend to get booked up, and if there were to be a hiccup, would they work on the Saturday? Even if they would, the van might have been booked out to someone else and not be available to complete your move easily. So aim to move mid-week if at all possible. · Completion dates are often agreed before exchange. Once you have a tentative date in mind ask the removal company to pencil in the date, subject to confirmation. · You can save a lot of hassle by getting the removers to pack for you. But watch the quality of packing. Do they just put a pile of plates into a box, or do they wrap each one individually? Will they pack clothes in their existing chests/wardrobes etc., thereby saving space, or would they pack into boxes first, possibly at unnecessary cost? · To be on the safe side, choose a removal company that is a member of BAR – the British Association of Removers. Happy moving!
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Help your Agent
	Buyers tell us that some estate agents waste an inordinate amount of time showing property that is either too expensive or blatantly wrong in other critical ways. Additionally, more than 30% of UK property-sales fall through due to buyer or seller suddenly changing their minds. Both these annoyances could be attributed to the agent not having gained a good understanding of buyer/sellers requirements, and/or not having earned the trust required to secure this understanding. However, it would be beneficial to agent, buyer, and seller if a few fundamental issues were addressed prior to agreeing terms, which will help avoid false starts, additional expense and wasted time: 1. Ensure that you get your finances in order and know exactly how much you can borrow, with an “in principle” agreement from your lender. 2. Before viewing properties understand the difference between your preferred “wants” and absolute “needs”. 3. Locations can vary from one street to the next, and at different times of day. Consider school runs and pub times. 4. Do not make an offer on a property unless you are absolutely serious about making it your home. The seller’s expectations will be raised and you could damage your reputation as a genuine purchaser. 5. Don’t lie about your home. Be upfront about any defects or the reason for moving if you are to speed up the sale and reduce stress. 6. Don’t ignore the facts. If your home has been on the market for several months, it is likely to be overpriced. Promptly reposition it in the market before it goes stale. 7. If you’re unhappy with your agent – say so! Don’t be afraid to change agents, being careful to note any onerous contract terms, and don’t change more than once, or people will think it’s the property – not the agent!
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Touching Up
	When the time comes to sell, you naturally want your property to look its best, but how far should you go in terms of presentation? Firstly, aim to understand how your property “sits” within the market. Not all buyers have the same buying criteria, so walk through the house with your estate agent to identify your property’s strengths and weaknesses. Look through the eyes of a typical likely buyer, and consider what aspects should be improved to enhance your chances of selling to that person. For example, it may be that your home is in generally good condition, but the carpets let it down. Whilst you could take account of this in the price, new, or professionally cleaned, carpets can transform the presentation of a house and appeal to a purchaser who might otherwise be put off. However, if your property is in need of general updating, a new carpet could be a waste of money, as the likely purchasers may well be looking for a house that they can improve themselves. Nevertheless, a simple coat of paint can generally do wonders, but be careful not to let it look as if you have simply “painted over the cracks”. If you are going to redecorate, then do it properly, as any surveyor, and many purchasers, might wonder “what else is there that they have tried to hide?” Honesty should always be the seller’s best policy! Finally, whilst you may have updated your property when you moved in, your eventual buyer may have a completely different idea of current fashions, particularly with the flood of home improvement programmes currently washing over our TV screens. So make sure that any changes you make are in keeping with modern trends. Our experienced Sales Team members will happily advise you on this if required.
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Viewing Time
	Most property vendors will recognise the tremendous importance of ensuring that as many prospective buyers as possible see their property. After all, more viewings means more buyer competition thereby maximising your chances of securing the highest price the market will pay. However, whilst one always has to be fair, there is a lot to be said for strategic viewing! Good agents will advise their clients to be selective when arranging a time for prospective purchasers to view their home. After all, only the person who has lived in the property knows when the best times of day are. Here are a few tips: · Is your property on a school route? If so, during term time, it might be best to avoid the morning and afternoon drop-off and pick up times. If you are very close to a school, is it noisy during break-time? · Likewise are you near a pub, sports ground, or factory, which can have crowds of rowdy people spilling onto your street at certain times. · Consider which way your property faces. Bright accommodation and a sunny garden are great selling points, so choose times when the position of the sun is at its best. Perhaps a follow-up viewing is best organised for a different time of day to highlight a feature that might have been missed initially. Nevertheless, do remember that agents and vendors alike have a duty of care not to misrepresent, so if there is an issue, such as predictable noise at certain times of day, then this should be disclosed. However, the importance of a good first impression cannot be overstressed, to the extent that many people will dismiss a minor inconvenience in light of having first fallen in love with their otherwise perfect home – yours!
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Spring
	Spring is traditionally a time of change. Brighter and longer daylight hours make house-hunting easier for working people, and sellers naturally want their property to look its best. Job-hunters have by now settled into their new positions and feel confident about upgrading their home. The school year is approaching its final term, which focuses the mind of parents who wish to make a move before the new academic year begins. They also want to avoid the house being over-run with children when people view, so term-time is preferred. The timing of holidays also plays a major part, meaning that many people are unable to move in the height of summer. This leaves a relatively small window within which to sell in these “ideal” conditions. However, the consequent increase in the number of new vendors can prove competitive, especially as these sellers themselves are not yet in a strong position to buy. This does not mean that a price fall is imminent. It is simply a reflection of a short-term over-supply that is usually corrected during the summer. The rule of thumb for sellers is simply this: investigate what else is available nearby and make sure your house competes favourably, either by presentation, ease of viewing, price or all of these. So before the Spring syndrome sets in we would advise prospective vendors to consider putting their property on the market early, and then buy from a position of strength when there are more properties from which to choose.
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Old v New Part 2
	Last week’s article looked at the pros and cons of buying a modern home. Here we consider the older property. 50% of residential properties in the UK were built before 1939. Their popularity has remained undiminished for decades, and many of our registered buyers express a preference for such “period” homes. As an investment, period properties will always be in demand, as you can never build a new old house! The attraction for many is in the character of the property, with each era delivering a distinctive building style such as Medieval, Georgian, Early Victorian, Late Victorian, Edwardian, etc.. For others it is the sense of history or unique points of interest such as an original fireplace, wall panelling, ceiling mouldings or the patina on an old door that could look out of place in a modern home. Also, the garden is likely to be well-established, with large trees and shrubs having been planted by previous owners. Buyers with contemporary design ideas need not be put off by an older property, as many people now incorporate modern interior designs that can complement the character of a period home. Of course, there are potential downsides to buying older properties that should be considered. Modern building standards are unlikely to have been met, so insulation, particularly around doors and windows could be an issue, and some attempts to replace these with modern equivalents, whilst being more efficient, can look out of place. Fire compliance and wheelchair access were seldom considered, and you never know what really lies beneath years of paint. Don’t necessarily be put off by some of the things that a surveyor might discover, but consider whether any dampness, cracks, rotten timbers or infestation are significant enough to affect your enjoyment of living in your new, or old, home.
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Old v New Part 1
	Buyers tend to have fixed ideas about the style of home they would prefer to buy. Some would not buy anything but a “character home” whilst others prefer a brand new property. In this two-part article, we look at some advantages and disadvantages of each, starting with modern homes. There are two types of modern properties – brand new and “second-hand”. Both have the advantage of being built to modern standards. For example, fire, ecological and insulatory considerations have improved dramatically over the past 30 years. The advantages of purchasing a brand new home as the first owner can include choice of plot/aspect, design, and finish of the property in liaison with the builder. There may also be part-exchange or other incentives to buy, and it’s great to be able to put your own stamp on an immaculate home. Disadvantages include snaggings (unfinished bits and pieces), a garden that could take years to mature, and the inconvenience of possible other building works nearby, along with the associated muddy roads. Also, be careful not get caught up in the marketing hype of a new development, as values might not truly reflect local market conditions, but the developer’s ambitions. When you come to sell, will you be competing against Phase 2? Buying a “second-hand” modern property is likely to have fewer surprises, as the first owner will have solved any teething problems (even small things like fitting a doorbell or exterior light) and may well have installed extras such as garden decking or Sky/Broadband connection points. Inroads will have been made into the headache of planning, stocking and cost of a new garden, and discounted carpets and curtains may possibly be included in the purchase price. Next week’s article looks at the pros and cons of buying an older property.
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Let to Buy
	When the time comes to sell, there is usually a need for speed. Isn’t it always the case that the minute you start to think about selling, you see the ideal property you want to buy?! The problem is that the chances of getting a chain-free sale on your own property to coincide with your dream purchase can sometimes be slim. We always try to approach our clients’ needs from a solutions-driven perspective, and have recently helped a number of sellers move house quickly and profitably by encouraging them not to sell, but to rent out their existing property using a “let-to-buy” mortgage. Let-to-buy allows you to borrow money for your new home in the usual way, whilst your existing property is rented to tenants, with the rental income being used to cover your existing mortgage repayments. You can sometimes even raise further funds on your existing property to assist in the purchase of your new one. Some mortgage companies will lend up to 85% of the existing property’s value and will want to ensure the achievable rental income is at least sufficient to cover the interest only mortgage payment. Things to consider before embarking on a let-to-buy venture include tenant management and ongoing maintenance costs as well as certain tax and insurance implications, so it’s not for everyone. But let-to-buy is an excellent “chain-breaker” and can be an entry route to building a profitable portfolio of investment properties, which many people are currently incorporating into their pension planning. If you would like to discuss this innovative approach to getting you moving faster and whether your property could be suitable, please feel free to contact your local branch. If you would also like to take advantage of our Lettings services for Tenant Find and/or Management please contact our Newport Lettings Dept. on 01633 225824. We’re here to help and our straight-talking advice is free.
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De-Clutter..
	In the current market it is more important than ever to ensure that your property is a highly saleable proposition, rather than one that makes another house look good by comparison. Of course, there are several basics that should be in place. The price needs to be as attractive as the décor, and you should aim to be flexible on things like fixtures, viewing times and completion dates. You need to be with a pro-active estate agency – not just one who simply lists your house and then waits for the market to deliver a buyer to your door. But there are other things that you can do, which have a significant bearing on whether a buyer will purchase your property instead of the one down the street. A recent survey supports our own view that clutter in an otherwise delightful property can thwart an early sale. Over 76% of estate agents questioned said that de-cluttering your home is among the top three most important things a seller can do, and is an inexpensive way of dramatically increasing the perception of space. 68% of agents said that a thorough interior clean was important, followed by 48% who said that the garden should be tidied. If you have lived in your property for a while, you can become oblivious to what is clutter and what is an asset to the presentation of the property. So it’s a good idea to ask a friend to help you sort the wheat from the chaff, and any decent estate agent will be happy to offer advice. But don’t just bung your superfluous possessions in the garage. Why not be rigorous and take a few carloads to one of our local charity shops? It can be a liberating exercise as well as a social benefit!
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Pick a Letter..
	There are many styles of estate agency operating in the South East Wales area, and picking the right one to sell your property can be daunting. Over this series of articles we have made reference to a number of issues to consider so that you can make an informed choice when the time comes for you to sell. Different agencies provide different services, yet some people are not aware of the indirect benefit that apparently unrelated services can offer. For example, choosing a selling agent who also does lettings could be the make or break of your sale! There are several reasons for this, as we can testify. Firstly, as sales and lettings agents, we have long-term buy-to-let property investors permanently on our books who buy through us regularly. They know us, and they make quick decisions and reliable offers. They prefer to buy through an agency that does lettings because it is easy for them to let out their new investment, as we are often able to find a tenant who can move in immediately the property sale has completed. Secondly, many of our tenants subsequently go on to buy a property. As we build a relationship with our tenants we are therefore in prime position to be able to help them buy one of our own clients’ properties. Thirdly, there are times when a vendor decides not to sell, but to rent, or even pursue both routes simultaneously, in which case we are of course well positioned to handle both. Likewise, it is often the case that a prospective tenant decides to buy instead of renting, again adding to our stock of pre-qualified buyers. So when the time comes to sell, pick a letter! It will improve your chances – and probably your price!
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Compromise is Inevitable
	According to a recent report, 23% of Britons say that a quiet location is the number one consideration when choosing where to live. This rises to 32% amongst people in their 50s but surprisingly falls to 16% amongst Londoners. The second most important consideration (16%) is proximity to friends and family with 14% seek low crime, and 12% seeking good schools and universities in the area. Interestingly, only 1% of people cite the historic movement of house prices as being the most important factor when assessing the desirability of an area. When looking to buy, everyone has their own personal preferences and motivations. Yet sellers sometimes panic when they read of the latest property preference if their own home does not precisely fit the trend. But don’t worry! Preferences are exactly that. Well-trained estate agents understand the difference between buyers’ wants and buyers needs. It is remarkable how many buyers citing a preference end up compromising on it, in order to satisfy a fundamental need. For example, people will generally prefer to move into a spacious property, even though it might not be perfect for them in other ways. The most common compromise is price. The RICS confirms our view that 70% of buyers eventually pay 20% more than they had originally allocated. When pricing your home it is important to remember this, because it indicates that most of your likely buyers are registered in a lower price band. By pricing your property too ambitiously these prime buyers will not even view it, let alone make an offer, whereas those registered in your price bracket will probably buy a more expensive home. Please feel free to call us if you would like to discuss this important aspect of pricing your property for sale in the current market.
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Looking Backwards¸ Moving Forwards
	In property terms, 2006 turned out to be a very stable year, with a generally good balance of both supply and demand, although more stock would have been helpful for those buyers who were frustrated by lack of choice. Under this regime property prices rose by a staggering 13% nationally, but subject to large regional variations and little increase in areas such as Newport. (source Rightmove). Whilst most people’s New Year’s resolutions are already history, their property plans are now beginning to take shape. Many people who might have otherwise withdrawn their property from the market for the Christmas period found themselves in one of the most active winter markets ever. This means that there are now more buyers than expected on the market. They have sold their property and they are waiting for the Springtime flood of properties to become available. The advice would therefore be to consider selling before everyone else does if you are to take advantage of this! In news terms, the recent surprise rise in interest rates was overshadowed by David Beckham’s move to the USA (interesting priorities as ever in the British press!). This did mean that there were fewer shock headlines than might have been expected, although the public is of course becoming somewhat immune to tabloid housing scare tactics. If this interest rate plays its part in keeping the lid on rampant property inflation, and the approaching Spring market sees increased activity, then it looks like we are set for another balanced year where people move for genuine reasons within the healthy environment of a mildly inflationary property market – widely predicted to be in the 4% - 6% range. Needless to say, getting the right advice will always be paramount to maximising the opportunities available. So please feel free to call us for a private, no obligation, consultation to help you get the best out of 2007.
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It’s Not Just About Selling
	Many estate agents put substantial emphasis on their ability to find a buyer, and they highlight this as a primary reason to sell through them. However, we believe in going far beyond this. In many ways, finding a buyer is the easy bit! Most switched-on agents have access to most of the buyers in the market, either via their local property newspaper advertising, their website, their boards or their existing database of registered buyers. But the issue is not actually about selling. For most people it’s about moving. Selling your home is only one component of the process, and for most it is not as exciting as the buying component! Whilst an agent’s sales success and their investment in technology and advertising will always be important to vendors, there does seem to be a huge gap in estate agency that provides the reassurance homeowners deserve when they are moving. On average 36% of sales arranged in England and Wales fall through prior to exchange of contracts (although our own fall-through rate is substantially below this). The chances of a sale failing to exchange can be considerably reduced if the seller’s agents are as concerned about the whole move in context as they are about the sale in isolation. So often, it is issues relating to linked sales or purchases that can be the cause of problems, be they legal, structural or emotional. Our aim is to make the process of buying and selling be the celebration it should be, rather than the daunting process it often is. So when you speak to one of our property advisers, don’t be surprised to find them as interested in your moving plans as they are in your sale. Because that’s what relevant service is all about!
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What Do We Have To Do To Sell?
	In an increasingly competitive market place, we know that as long as your property is priced attractively, it will sell. However, many people spend a fortune on improving their homes expecting at least the cost of the improvements to be returned to them via an increased sale price, which can be a mistake. Our advice on this is to be careful. Certainly, improve your home to make it appeal to prospective buyers, but your primary objective should not necessarily be to add significant value, but to enhance saleability. This means making your property more desirable than the other properties currently on the market at about the same price. You can make any property desirable simply by quoting a price which makes it look amazingly good value next to the others, which may themselves of course be overpriced. However, without throwing your money into subsidising someone’s purchase, there are simple things that can be done to make sure your property looks worth the money. Much of it relates to lifestyle as much as it does to bricks and mortar. For example, a thorough spring clean complete with the smell of pine bleach in the loos suggests you’re proud of your home and care for it. Cost? Probably about 20p a shot! How about a lick of paint on the doors? Stripped floorboards generally look better than worn carpets, and a day’s work in the garden pays real dividends. Try new light fittings or re-grouting the bathroom tiles. Also, remove any superfluous items from the garden and inside the property, keeping your storage areas tidy as well. The key is not to rely on your prospective buyers’ intuition! Make it easy for them to imagine how pleasant it would be to live in your property, and you could well prompt an early sale.
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Think Carefully Before Modernising
	The proliferation of property improvement and interior design programmes on TV has prompted a substantial increase in the number of buyers wishing to purchase a “dump” and “do it up” for a huge profit. Sadly those days have all but gone, and in some cases demand for such properties is putting such a premium on them that the purchase cost plus the cost of improvements can even exceed the “finished” value! So we would urge a word of caution. If you are keen to put your own stamp on a property, it might be worth investigating those that are tired, but not necessarily totally un-modernised. Perhaps they were “modernised” twenty years ago and just need a cosmetic makeover. The structural aspects might well be all right if the property was comprehensively refurbished at the time. The roof should be fine for the next fifty years, the wiring fully compliant with current regulations (but check), the damp proof course in order, and the plasterwork sound. But if your heart rules your head and these aspects have not been attended to in the recent past, then these are the things that will cause you the greatest headaches, time, considerable and often unforeseen expense and, particularly, personal upheaval and dust if you are living in the property. We hear too many stories of people saying – “Oh, we’ll only have to re-plaster one wall”. Yet when the old plaster is removed, the ceiling comes down as well, revealing dangerous wiring and woodworm-infested timbers. A general rule-of-thumb is that if something other than purely cosmetic needs attention – so does a whole lot more. This is where a cursory inspection by a builder prior to your purchase can pay dividends, so that you can spend your resources on exactly what you want, not what the property demands!
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Competing in Today’s Market
	Nationally, the number of properties available, in relation to the number of buyers registered, is at its highest level for eight years. This means that buyers have a greater selection of properties from which to choose, prompting them to be increasingly selective and cautious before settling on the “right” property. If you are selling, this puts a huge onus on you to ensure that your property absolutely shines in relation to other properties that are competing for your buyers’ affections. This is not the time to listen to the fawning estate agent who tells you what you want to hear, particularly in relation to your asking price, in order to secure your “valued instruction”. If your property is going to look good next to the others that are available, then pricing not only has to be correct – it has to be attractive. Imagine a £10 note. It is definitely worth £10 - but could you sell it for £10?! Probably not, but at £9 you would have people fighting over it to the extent that the price would probably rise! Likewise, if your property is slightly better than others on the market, don’t offset this by quoting a slightly higher price! In other words, make your property the best in the market when compared to others at the same price, and the best-priced property when compared to others of the same size/location/condition. Finally, listen to your agent’s advice. Only they have a good handle on buyers’ immediate requirements and, importantly, vital buyer information as to what else they have seen and how it compares with yours.
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What Does Viewing Feedback Really Mean?
	Sellers often approach us after an unsatisfactory experience with another agent, particularly in relation to poor levels of feedback following property viewings. Surely, prompt and constructive feedback should be a fundamental part of any estate agent’s service to their clients! Only when agents understand what buyers think of a property can they deliver practical advice that will enhance its sale prospects. The agent and the seller should be working hand-in-hand to achieve the desired outcome, based significantly on buyers’ comments. We also understand the seller’s anguish in simply not knowing whether a sale is imminent following a viewing. Sometimes, feedback is obviously positive: “When can you move out?” is clearly a strong buying signal; “What are the neighbours like?”, “Could I bring my partner round?” or “Will you be leaving that cupboard?” certainly indicate that the property is a distinct possibility, and a good agent should be able to move this interest towards a firm offer. Some feedback can be helpful in confirming whether the asking price is positioned correctly in the market. Buyers buy by comparison, and sometimes a swift price adjustment can be imperative to avoid the house going stale on the market. For example, “The property is too small for us” usually means, “We have seen larger houses for the same price”. “The street is too busy” usually means “We’ve seen similarly priced properties in quieter streets”. Of course, many people are just being polite when they say, “We’ll think about it”, or “I’m sure you’ll find a buyer easily”. The key to good estate agency is identifying which comments point to a sale, which point to a negotiation, and which point to a problem with the price. And we think sellers deserve to know, via prompt and supportive feedback.
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Next Door
	When investing in a property, you are not only buying bricks and mortar, but also the immediate surroundings, which are significantly influenced by your neighbours. Good neighbours can help sell a house and boost its value, whilst bad ones can knock as much as 10% off the price. So when buying, it’s worth enquiring about a seller’s relationship with the neighbours, and sellers should always be transparent when answering a buyer’s inquiries, as an omission can lead to problems. One buyer successfully sued the previous owners of their property for not disclosing long-running problems with neighbours, and was awarded £67,500 in costs and compensation. Although by no means a comprehensively reliable guide, the following pointers might help you avoid future headaches: 1. How well do the neighbours maintain their property and garden? 2. Could any bordering hedges be a potential sticking point? If so, investigate. 3. Find out if the surrounding properties are rented or owner-occupied. If rented, what is the turnover of residents, and are they likely to be as interested in maintaining a good relationship with their neighbours as an owner-occupier might be? 4. Are the neighbours planning any building work that might interfere with your personal space and privacy? There is nothing to stop you asking them! 5. Do they have loud parties? A walk-past on a Saturday night might be useful. 6. Do they have numerous loud children running round their garden on a sunny day when you want to enjoy your own garden? 7. Is there a pub or club that creates noise nearby? Tidy, friendly and courteous neighbours undoubtedly contribute to a more pleasant living environment, so a little research before you buy can pay dividends and add not only to your enjoyment of your new home, but also to its value.
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New Regulations Say Don’t Switch!
	Good lighting and plenty of power points can transform a property, and most of us have at one time or another undertaken minor electrical work in the home and lived to tell the tale. However new regulations have recently come into force whereby DIY enthusiasts should question the type of work involved, as it may require certification from a “competent person”. Non-notifiable work such as changing existing light fittings and sockets remains outside the controls introduced under Part P of the Building Regulations, as does the replacement of single circuit wiring cable, unless these are in kitchens, bathrooms or outside. However anything more substantial, including alterations to existing circuits, or installations of appliances in kitchens or bathrooms, such as an electric cooker or power shower must now be undertaken, or at least certified, by a officially competent person such as a qualified electrician, and a certificate issued. Each year about 10 people die and 750 are injured as a result of faulty DIY wiring. Indeed the new legislation has been supported by Lib Dem MP Jenny Tongue, whose daughter died recently from an electric shock in her kitchen due to poor workmanship by her builder. Failure to comply can not only render the offender to a fine of up to £5000, but also have a bearing on the saleability of your property, as you will not be able to provide the correct certificates for any notifiable work done. Still, at least you will be alive to tell the tale. So keep an eye on the regulations or you could be in for a shock! You can get further information from www.odpm.gov.uk
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