Vendors Must Keep In Touch With Buyer Demand

While vendors should focus on what they want to achieve when selling their home, there is a lot to be said for being aware of what buyers are looking for. If you can tailor your home or offer to better meet the needs of likely buyers, you will find it easier to connect, hopefully assisting you in the sales process.

At Williams of Petersfield, we are keen to help buyers and vendors connect. We know the local market, and we know what buyers are looking for. With our help, Petersfield vendors can connect with buyers, and enhance their chances of selling their home.

NAEA Propertymark figures offer insight into house hunters looking for homes

There has been a lot of information and statistics issued in the housing market since it re-opened after lockdown, but some bodies and organisations are more highly regarded than others. When NAEA Propertymark issues information, people listen. This is because it provides realistic information from estate agents across the country.

Some of the leading statistics revealed by the organisation include:

  • The number of house hunters registered per NAEA branch member increased by 7% between February and May
  • The number of house hunters registered per NAEA branch member rose from 322 pre-lockdown to 344 post-lockdown
  • In May, 70% of properties sold at a price that was lower than the initial asking price
  • The average number of properties available, per branch as of May 2020, was 35
  • This figure is a fall from the figure of 41 per branch recorded in May 2019
  • The supply of homes, based on year-on-year, figures fell by 15% between March 2019 and March 2020
  • Sales to first-time buyers in May stood at 32%, increasing from the 22% sales to first-time buyers in February

Mark Hayward is the Chief Executive of NAEA Propertymark, and he said; “It’s great to see the market up and running again, bringing some much-needed confidence back. With estate agents following new socially distanced protocols and the demand for viewings soaring, we are set for an exciting summer.”

Mark continued by saying; “It will be interesting in the coming months to see if the lifestyle changes triggered by the COVID-19 pandemic will have an impact on house sale locations, especially in and around commuter towns.”

More support for first-time buyers?

There have been calls from MPs for more to be done to support first-time buyers looking to step onto the property ladder. Warrington North MP Charlotte Nichols said; “The Government must be proactive in ensuring that the banks assist first time buyers rather than wealthy landlords to access homes on the market. Too many young people are losing life opportunities to the Covid-19 pandemic, and this must not be another instance of that. I have written to the Secretary of State for Housing to ask what measures will be taken to support first time buyers.”

Eleanor Williams is a Finance expert at Moneyfacts.co.uk, and she said; “First-time buyers are a vital part of keeping the mortgage market moving, and so it comes as great news that lenders are again starting to relaunch products in the higher LTV tiers. Concern has been raised about the possibility of house price falls and consequential potential negative equity situations, making lenders understandably more cautious about lending in these higher-risk circumstances.”

Eleanor continued by saying; “Lenders have also found though that they have been overwhelmed by the level of demand for these brackets of products, resulting in some needing to withdraw deals only recently relaunched in order to manage their workload. Consumer demand is clearly evident, and the re-introduction of more deals for those with a 10% deposit, or even less, by more lenders would hopefully provide prospective purchasers with the choice they need to move forwards with buying a home.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Petersfield Vendors – Stage The Outside Of Your Home And Sell It

With buyers placing even more importance on garden space and the outside of homes, vendors need to tailor the way they present their home. Many homeowners are more than happy to stage the inside of their home to attract buyers, and given the increased level of demand on garden space, we believe vendors should consider staging the outside of their home.

At Williams of Petersfield, we are pleased to say we have assisted many local homeowners to connect with buyers. By knowing how to make your garden more appealing, you can enhance the chances of selling your home quickly, and for the best possible price.

The demand for outdoor space is obvious

The first monthly market survey report from the Royal Institution of Chartered Surveyors (RICS) since the housing market re-opened provides a number of reasons why vendors must focus on the outside of their property.

The RICS survey collects opinions of agents across the country, so it offers useful insight into what property market professionals expect to see in the industry. The survey reported:

  • 81% of agents predict an increase in desire for homes which have a garden or a balcony
  • 74% of respondents predict an increase in demand for homes located close to a green space
  • 68% of respondents believe properties with privacy and less communal space will be in greater demand

Simon Rubinsohn is the Chief Economist at RICS and he said; “There are already signs that those looking to buy a house are responding to the conditions created by the pandemic by seeking out properties with gardens or balconies and nearer green space. These and other similar features are likely to increasingly command a premium over higher-density urban locations, according to respondents to the survey.”

Gardens matter for property buyers

There has also been backing for these predictions from one of the leading property portals in the United Kingdom. Their studies suggest that while gardens have always been a popular search term for buyers, there has been an increase in prospective buyers looking for outdoor space in their next home.

Rightmove’s housing market analyst Miles Shipside said; “During lockdown people have been re-evaluating what their must-haves are, and both buyers and renters are craving a home with its own outside space rather than a flat. Usually home-movers tell us the kitchen photographs are the most important when they’re looking at a property advert, but now agents should consider giving greater prominence to pictures of gardens and outdoor spaces to attract the attention of prospective renters and buyers.”

There is consensus that outdoor space is important. Of course, when outdoor space becomes a common feature in the market, there is a need to ensure your garden stands out for the right reasons.

This is why staging outdoor space is going to become a critical feature in the property market.

Consider these areas when staging outdoor space to sell your home

  • Always start with the decluttering and cleaning process, as this creates space and makes the area look more attractive
  • Carry out repair work, focusing on paths, property walls and property doors and windows
  • Create borders around different types of plants and flowers
  • Mow the loan and ensure all borders are tidy
  • Ensure all border barriers, such as fences, are in good condition
  • Consider adding lighting to the outside of the property as this will enhance security, safety and functionality
  • If you have space for people to gather, consider adding garden furniture

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Petersfield Vendors – Legal Kerb Appeal Sells Your House

One of the most important things you can do when selling your home is to make buyers feel confident. If a buyer feels positively about your home, and that they will receive value for money with the purchase, they are more likely to make an offer.

Therefore, it makes sense to show your home is in good condition. You also want to prove you have every legal issue taken care of. At Williams of Petersfield, we are pleased to say we have helped many local homeowners sell their home, and we believe taking care of the legal kerb appeal makes a positive difference in the sales process.

What is legal kerb appeal?

Legal kerb appeal, in the words of Chris Salmon, who is a co-founder and Director of Quittance Legal Services, is; “Simply, legal kerb appeal is the strengths of the property when considered from a legal perspective. Legal kerb appeal could also involve proactively addressing any potential legal issues before a buyer is found.”

In an interview conducted on the Property Road website, Chris was asked about what vendors should look to do to ensure they are ready to sell their home in the near future.

Chris responded by saying; “If you are on or are thinking of going on the market, we’re pushing the concept of ‘legal kerb appeal’. Sellers will be entering a buyers’ market, and must do everything they can to improve their chances not only of finding a buyer, but also completing the sale.”

He continued by saying; “For example, if the property has a roof terrace without planning permission, the buyer’s solicitor will pick this up. Instead, the seller’s solicitor can identify a suitable indemnity policy and offer it as part of the sale. This proactive approach will reassure buyers and avoid delays later in the process.”

How will the housing market move forward?

Chris was also asked about what he thinks will happen in the property market when the industry moves forward. He said; “The consensus is that the pent-up demand that emerged shortly after the 2019 election will gradually resume. It’s very likely that in-progress transactions will suffer a logjam as capacity challenged property services firms struggle to fulfil a rush of requests for searches, surveys and managing agent information. We anticipate significant delays for up to a few months after the lockdown eases.”

Steps in managing legal kerb appeal

With so many sources discussing the importance of legal kerb appeal, most vendors will be keen to incorporate it into their sales process. Here is a list of steps you should follow in managing legal kerb appeal before and during the sales process:

  • Complete all property transaction forms
  • Anticipate which problems are likely to occur, and resolve them
  • Involve external parties and management agents as quickly as possible
  • Collate all documents as early as possible
  • Start the process of recovering or replacing missing documents as early as possible
  • Agents, vendors and legal professionals should work together to find solutions

The earlier you start, the better

As with most things in life, and certainly as with many things in the sales process, the sooner you start, the better. When it comes to legal kerb appeal, the sooner you start to put things in order, the better for you.

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Property Demand Remained High During Lockdown

The re-opening of the housing market in mid-May saw a high level of activity in the housing market, but this shouldn’t have been a surprising outcome. There were many households whose lives had been put in limbo due to the housing market being paused. These people would have been keen to conclude their deals as soon as the market was up and running again. Continue reading “Property Demand Remained High During Lockdown”

Tips To Sell Your Home Effectively In 2020

In the aftermath of the General Election in December of 2019, there was a significant spike in mortgage searches. It is likely this increased level of buyer demand will continue in 2020, which means if you are considering selling your home, 2020 is the year to do so.

Of course, more buyers usually lead to more sellers in the market, so it will likely still be a competitive time in the property market. Therefore, if you plan on selling your home, you should be looking for ways to enhance your chances of selling your home quickly and without too much effort.

At Williams of Petersfield, we are pleased to say we have assisted many clients in selling their home, and here are our top tips to sell your home effectively in 2020.

Choose a traditional agent, not an online estate agent

There is no denying online agents have affected the property market, and that some vendors have found their service to be of benefit. Over time, the importance of online agents will increase, but right now, the market isn’t quite in a position where you should opt for an online agent over a traditional agent.

Online estate agents are still more likely to list your property and expect you to sell it, as opposed to selling your home for you. This isn’t a suitable standard of service for most vendors, and we believe you will be much better off relying on an agent who has helped many people sell their home.

We believe choosing an agent with demonstratable experience and expertise in your local area, with your type of home, and with buyers who are likely to show an interest in your home is the ideal starting point in selling your home quickly and effectively.

List your property at a realistic price

While selling your house for as high a price as possible would be a tremendous outcome, this shouldn’t be a strategy you start off with. If you place too high an initial price on your property, you will struggle to attract attention.

Therefore, it is best to call on a local agent to evaluate your home before coming up with a value. External factors such as supply and demand, and local facilities, influence property price as much as the condition of the property. Therefore, it is best to call on an expert who understands the local market, and who can place an accurate value on your property.

Evaluate each offer on its own merits

If you are fortunate enough to receive more than one offer, don’t just assume the highest offer is the best offer for you. You should consider if the highest offer is part of a chain, or it comes from a first-time buyer. A buyer who isn’t part of a chain is likely to be a more appealing buyer to you, as chains add risk when selling your home.

If you are looking to sell your home in 2020, contact Williams of Petersfield, and we will be more than happy to assist you.

 

Staging Your Home At Low Cost

Selling your home is often a challenging proposition. One issue that many people overlook is the cost of selling your home. There are many fees associated with selling your home, but you also have bills to pay when making your home look as appealing as possible.

You should look to stage your home to attract buyers. With an attractive home aimed at the most likely buyer, you significantly increase your chances of selling the property. However, some vendors are concerned about the cost of staging their home. At Williams of Petersfield, we are pleased to say we have helped many homeowners cut the cost of staging their home without compromising on quality.

We are pleased to help you stage your home at low cost.

Add a new coat of paint

While you don’t want to add garish colours or go overboard when it comes to rejuvenating a room, there is a lot to be said for adding a new coat of paint to a room or home. While you should be modest when it comes to your colour scheme, making a place feel less drab is a fantastic way to entice buyers and make the most of your home.

Add a sense of space

You should look to add space at your home because this is what buyers want to see. However, if you cannot physically add space, you need to make your home feel spacious. There are several simple tips you can follow here, but mirrors are extremely useful in transforming your home. A well-placed mirror makes a room seem more spacious, and it can make a room feel lighter too.

Also, make sure that you create space around windows. Minimise drapes and items blocking the window area. Not only will you allow more light to flood into a room, you develop a sense of space that is highly appealing to buyers.

You don’t need to buy furniture to stage your home

An essential part of the staging process is to present the room in a manner that appeals to the buyer. Therefore, it makes sense to have furniture that the likely buyer approves of. However, if you don’t own furniture that matches the needs or taste of a prospective buyer, you may be opposed to buying furniture to sell your home.

Thankfully, you don’t need to buy furniture for the staging process. If you have friends or family members who have this style of furniture, ask if you can borrow furniture from them for a short time. Also, some firms specialise in loaning furniture on a short-term basis. Installing these items in your home for a limited period helps you create a great impression, without spending a lot of money.

If you are looking to sell your house in Petersfield, get in touch. We aim to help you connect with buyers and by calling on Williams of Petersfield, you receive guidance from a local expert in the property market, so get in touch.

 

staging a home for sale

How Long Does It Take To Sell Your Petersfield Home?

While each property sale is unique, people like to know likely timescales. In the property market, average figures are often significant. A vendor shouldn’t expect to receive the average price for their Petersfield home, but if they are planning, the average sales price for similar homes in their area provides a guideline for budgeting. Similarly, if you want to buy a home, you’ll look at average house prices in an area, and determine if it fits your budget.

Therefore, if you want to know how long does it take to sell your Petersfield home, you should start by looking at average times. Information culled from Rightmove, and HM Land Registry provides a platform to review local selling times, and the data for Petersfield postcodes is interesting.

How long do you expect to take to sell your Petersfield home?

Many of you will have an interest in the GU31 postcode area. This is one of two postcodes covering the Petersfield post town area, playing hosts to areas like Petersfield, Buriton, Elsted, East Hampshire and Chichester. The average time taken to sell property in the GU31 postcode stands at 23 weeks. This is higher than the average in most other local postcodes, so don’t be surprised if it takes a bit longer to sell your home if you hold a GU31 postcode.

According to Zoopla, the average price paid for GU31 property in the past 12 months stands at £505,384.

In the GU32 postcode area, covering East Meon, West Meon, Sheet, Steep and East Hampshire, the average time taken to sell a property is listed as 18 weeks. Compared to the average time of 23 weeks associated with the GU31 postcode, selling your home will feel easier here! A period of five weeks can feel like a very long time when you are selling your home.

Property house sale

In figures provided by Zoopla, the average price paid for GU32 property in the past 12 months is £458,330. The difference in average price paid between the two postcodes may be a factor in the difference in the average time taken to sell a property.

You can speed up property sales

Of course, there are ways you can improve the sale of your home, and it is possible to sell your home more quickly without compromising on the quality of the sale. Steps to consider include:

  • Select the most suitable buyer, not necessarily the buyer who places the highest bid
  • Price your home accurately
  • Enlist the services of a skilled and qualified estate agent with a local agent

The right estate agent has a huge role to play in selling your home and speeding up the process. At Williams of Petersfield, we are delighted to say we have helped many local vendors sell their home promptly. We know the local area, and we know what buyers want, which means we can aid vendors.

This knowledge ensures we assist you connect with buyers, and to sell your home quickly, contact us, and we’ll be happy to help.

What Makes A Forever Home?

When it comes to the property market, there is a lot of focus on first-time buyers. In recent times, there has also been a growing level of interest in last-time buyers, which is natural given the ageing population in the United Kingdom.

The movers in the middle of these groups receive less attention than other buyers, but they are still relevant concerning the housing market. Many households in this area are on the lookout for their forever home. As the name suggests, a forever home is the property where people are supposed to settle down and stay for many years. First-time buyers aren’t looking for their forever home, they want to get on to the property ladder, and it is essential to know that there are differences between properties and your outlook.

A forever home has a dependable design

It should go without saying that a forever home has a design and style that you can rely on for many years. A lot of this is down to functionality, as you want to be confident about the structure of the property. Be sure to look out for cracks, dampness and foundation issues, or at least enlist the services of someone who will spot these problems on your behalf. This information is crucial in property transactions.

A forever home offers the flexibility of space

Your needs for today and the near future may be very different from your needs for decades to come. Therefore, a forever home is one that has the potential to be flexible. A child’s playroom in your current house could become a gym or home office in the future. If you welcome guests, will you have enough space to meet different needs?

Your forever home is about more than just the house

For you to feel truly settled, you will need to feel comfortable in your surroundings. The impact neighbours have on how you feel at home is enormous, and you want to settle in an area where you feel a sense of community.

Transport, educational facilities and shops matter when you are looking for your ideal house, but you also need a community where you belong and can have an influence. The perfect location for you may be entirely unsuitable for another person, and of course, you need to have an eye on the future.

If you have a young family, or you don’t yet have a family, but you intend to, look for a house in an area that provides you with a wide range of attractions and activities for kids of all ages.

Buyers need to think about what they need from a forever home before they purchase property, but vendors should also consider what people need from a forever home. If you have a house that can meet the needs of buyers, you are likely to attract attention and interest.

Anyone looking to sell their home will find that Williams of Petersfield is on hand to offer support and guidance, so please get in touch.