My last monthly property market update went out just before the General Election. The big question for this monthly market update is: what is happening in the property market today and how will the result of the General Election affect the property market in Scotland? I’ve also put some tips in here about how to help your property stand out and sell in what continues to be a very challenging market in most areas.Your Read More Link Text
Hmmm…so I had a meeting with a lady today who works with a lot of estate agents and she tilted her head sympathetically to one side and asked how things were going. She clearly expected the news to be dire! She seemed genuinely surprised to hear that things were going really well. The news she is hearing from most solicitors and estate agents at the moment must still be overwhelmingly negative.Your Read More Link Text
As people continue to tighten their belts due to the credit crunch, the housing market in Edinburgh continues to struggle.
Estate agents are reporting that increasing numbers of people are putting their properties on the market. In addition, recent reports show that more mortgage products are becoming available to first time buyers with smaller deposits. However, a healthy property market needs a good supply of new properties coming to the market and the number of properties on the market for these new buyers remains low compared to just a couple of years ago.Your Read More Link Text
ESPC Solicitor Decides to Sell His Own Property, Does Not Enjoy Experience, Wants to Pass on Some Tips…!
If you’ve been reading any of my other posts about my experience of selling my own flat, you’ll know that I’ve been trying to take lessons from my own experience and then integrate them into the service that we offer to our clients.
I’d got as far as covering the process of: drafting my own schedule (and making a bal*s-up of it), the experience of seeing criticism of your flat in a Home Report and then the experience of conducting your own viewings. None of which (particularly the last two) were terribly pleasant experiences.Your Read More Link Text
I’ve previously asked this question on my blog: is the way that estate agents bill for their services unfair? I got a variety of responses: those at the more affordable end of the market thought things were fine as they were whilst those at the upper end of the market resented having to pay a solicitor/estate agent thousands of pounds for what they perceived as being little more than putting their property in the ESPC. I personally believe that the traditional way that people pay for estate agency services is old-fashioned and that people are ready for change.Your Read More Link Text
It’s been quite a start to the year and one that we didn’t expect. Breathe it softly but…the property market in Edinburgh at least seems to be returning to some semblance of health. If you’ve been following my updates for some time now then you’ll know that I have been fairly unoptimistic about the state of the market for some time so it will come as no surprise that I temper this good news with a little caution too!Your Read More Link Text
It’s the end of 2009 and I thought that I’d stick with tradition and make my predictions as to what will happen in the property market in 2010. Since these are only predictions and not rocket science, and I’ll be the first to admit that I could be completely wrong with any predictions that I make, I also thought it might be fun to look back at my Monthly Property Market Update from December 2008 and see exactly which bits did and did not come true.Your Read More Link Text
There has been a lot of criticism in the Press recently about Home Reports, all totally contradicting my own firm’s experience of them as having been a force for good in the eyes of property buyers in Scotland. I wanted to take this opportunity to respond to that criticism.
I run a property-focused business in Edinburgh and the majority of our work is in the estate agency field. I am happy to admit that I was not a fan of Home Reports prior to their launch. I am also happy to admit that, based on experience since 1 December 08, I was wrong.Your Read More Link Text
The New Home Report Regime – Introduction
Home Reports, required for all properties marketed for sale after 1 December 2008, were probably the largest innovation in the last few decades in the way that residential properties are marketed and sold in Scotland.
If you put your property ‘on the market’ after 1 December 2008 then either you or your agent has had to be able to produce a Home Report for the property. There are a couple of fairly minor exceptions of course but the vast majority of properties sold in Scotland fall into this category.Your Read More Link Text
What is Stamp Duty Land Tax?
Stamp Duty Land Tax (SDLT) is a tax paid to the government by property buyers. My personal opinion is that it is hugely unfair and antiquated being as it is based on a percentage of property prices and the thresholds haven’t been significantly changed in several years to reflect rising house prices. Sadly, however, the UK government don’t pay much notice to me when it comes to fiscal policy. So we have to live with it in the meantime.Your Read More Link Text