Home Search Direct

Housing market given £1bn injection in Budget 2009

2009-05-01T01:53:00.000-07:00

A £1 billion injection into the housing market was announced by Alistair Darling to ease the pressure on homeowners, help meet future demand for properties and allow the construction industry to recover.

By Kara Gammell

For borrowers who are struggling to pay their mortgage as they seek new jobs, the government has extended the higher level of support in the Income Support for Mortgage Interest (ISMI) scheme for a further six months. The scheme, announced in the Budget and which covers mortgage interest payments for people recently unemployed, allows homeowners to claim state benefits to help you pay interest on their mortgage.

Almost £80m of the funding will be spent on the HomeBuy Direct, the Government’s shared equity mortgage scheme. The scheme, designed to help up first-time buyers into affordable home ownership, will also help participating house builders by enabling more first-time buyers to purchase their newly built properties.

Gillian Charlesworth, director of external affairs at the Royal Institution of Chartered Surveyors (RICS) backed the Government's decision to use the scheme as a way of helping buyers who are suffering as a result of restrictions on mortgage lending.

“Although the money is welcomed, it must be accompanied by better marketing of the scheme, possibly through high street estate agents. Extending the scheme will provide a boost for first-time buyers and can help avoid high loan-to-value mortgages, she said.

Fionnuala Earley, chief economist at Nationwide Building Society, said: “The extra funding should, in theory, increase the availability of housing options. However, previous experience has shown the administrative challenges of managing such initiatives means we should be cautious about expecting these measures to have an immediate impact.”

For homeowners who do not qualify for ISMI, a new scheme was launched this week.
The Homeowners Mortgage Support (HMS) scheme will help eligible homeowners who have suffered a temporary loss of income but are not on benefits, get back on track with their finances by cutting their mortgage interest payments for up to two years.

To be eligible for HMS, homeowners need to switch to an interest-only mortgage will be asked to pay as much as possible each month.

This will give homeowners who are experiencing money problems the time to find a new job or to recover their income, without the added concern and stress of potentially losing their home.
But some experts said that this scheme is a case of too little, too late as figures from the Conservative Party show that over 28,000 home owners have been thrown out of their homes as a result delays in implementation after the scheme was first announced last December.

Peter Bolton King, chief executive of the National Association of Estate Agents, said: “This scheme has taken months to come to fruition since it was announced last November and thousands of people have had their homes repossessed in the meantime. It is a scheme which is to be welcomed for the support it will give to homeowners. “However, more detail is needed on those major lenders that have not signed up for the Homeowner Mortgage Support Scheme but have promised to set up similar schemes of their own.”

http://www.telegraph.co.uk/finance/personalfinance/how-budget-affect-me/5201521/Housing-market-given-1bn-injection-in-Budget-2009.html

House prices fall slightly in April

The price of a typical house fell by 0.4% in April
Housing measures in the budget are welcome, but are unlikely to turn things around
Economic fundamentals will continue to dominate housing market prospects

Headlines	April 2009	March 2009
Monthly index * Q1 '93 = 100	300.0	301.1
Monthly change*	-0.4%	0.9%
Annual change	-15.0%	-15.7%
Average price	£151,861	£150,946

* seasonally adjusted

Commenting on the figures Fionnuala Earley, Nationwide's Chief Economist, said:

"The price of a typical house fell by 0.4% in April. This reverses some of the rise seen in March, but is in line with our expectations, given the current economic conditions. April's decline leaves the average price of a typical house at £151,861, down 15% from 12 months ago. The 3-month on 3-month rate of change, generally a smoother indicator of the short-term trend in prices, improved to -3.1% in April from -4.1% in March."

It’s Good to Talk !

2009-03-17T07:19:00.000-07:00

NO DEPOSIT required (or is it Equivalent 100% Mortgages are available)

As Mortgage Brokers we too have seen the frustrations and hurdles created by lenders in the current market to secure , in their eyes, safer and more profitable lending , but in the process been part of a system which for some time now has seemed to neglect the obvious .

If First Time Buyers are not buying houses because they are not able , then not many people will be moving , and I can confirm, if people didn’t already know, FTB’s have not been getting much in the way of help.

On the back of this perception we as Advisers, Estate Agents , Lenders and Local Government bodies, probably all professionally qualified and considered to have at least average intelligence, have either been confused , put off , had no interest or simply caught out by the Governments’ initiatives to get the property market moving again.

This failing in communication and lack of effective marketing has clouded the assistance available to the buying public , that through Government funding , there are ways that buyers ,not just FTB’s , can buy homes with little or no deposit, and in some cases secure a more competitive mortgage rate than finding a 10% minimum deposit from their own savings.

This funding is not just restricted to the type of property and an arrangement that a Builder/Developer has organised via a Government Scheme but there are schemes available to buyers regardless of the property.

There may be a moral stand with some people that by making a contribution from their own funds shows commitment or in the present employment climate , should people be entering into a mortgage , however , I will leave the morality question to those wiser than myself.

Therefore in conclusion we can confirm that assistance is available, albeit with slight ‘red tape’ issues attached, but becoming easier and more streamlined, always subject to terms, conditions and qualification , which in the past has put many off even asking, but for spending a little time many people could buy a home and not realise it.
If you don’t ask you don’t get !

For more information ring HomeSearch Direct on 01228 515515 and ask for any of our Mortgage Advisers.

Gary L Pollard CeMap,CertPFS ~ Director
Homesearch Direct Ltd

Subject to Terms, Conditions and Qualification
Homesearch Direct Ltd is an Appointed Representative of Personal Touch Financial Services Limited which is an Authorised and Regulated by the Financial Services Authority.
We do not charge a fee for mortgage advice however a fee paying option is available. Our typical fee is 1% of the loan amount.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Babies Everywhere !

2009-02-18T02:00:00.000-08:00

Carlisle based Mortgage Adviser Jo McRoberts returns to work on after a spell of Maternity Leave , Domestic and Motherly duties having had a baby boy last year (Bobby).

Jo returns suitably ‘rested’ and firing on all cylinders ready to give advice to her loyal band of clients and First Time Buyers. Most will be eager to see how she can weave her magic in a slightly different market to when she left ,albeit she kept in touch with affairs whilst juggling her other duties. Give her a ring on 01228 – 515515

Homesearch Partner Andrew Scott and his wife ( another Jo) celebrated the birth of a baby girl (Ruby) last month .Both Mother and daughter are home and doing well although Andrew is looking tired . Well Done both ! We didn’t know Andrew had it in him !

NAEA — slivers of better news amid the gloom

2009-02-18T01:56:00.000-08:00

ESTATE agents across the UK reported a slight increase in activity at the end of 2008, according to the National Association of Estate Agents.

After 12 months of misery, the NAEA's monthly market survey for December – traditionally a quiet month – revealed some positive signs in the market.

The number of house hunters registered with agents rose from 186 in November to 200 in December, while the number of properties available for sale on the average agent’s books increased from 87 to 100 over the same time period.

While many agents had expected a fall in activity in December, the number of sales per agent held at six – still a very low figure historically – while the number of first-time buyers as a percentage of new sales rose for the fifth month in a row.

Agents surveyed also reported an incremental increase in house prices.

NAEA president Chris Brown said: “After 12 months of misery, it is heartening to see that some agents across the country performed better than expected at the tail end of 2008. However, nobody should be under any illusion that the housing market’s difficulties have finished.

“Rather, these figures should be taken as hopefully suggesting that the market is, in some areas, beginning to bottom out. This process in itself will be a long one, and any recovery will require help from Government to succeed – most immediately in the form of a complete suspension of stamp duty.

“The reported increase in house prices can be seen as a statistical outlier that hopefully signals the direction in which, with small steps, 2009 will take us.

“However, agents in many parts of the country are still struggling to survive and thousands of potential homeowners are still in need of help from the Government and a commitment from the major lenders to free up credit.”

n Meanwhile, the NAEA has called for the Government to co-ordinate an ‘over-arching recovery plan’ to boost the economy after the Financial Services Authority revealed that repossessions increased by 92 per cent in the third quarter of 2008.

“Worryingly, these figures appear to show that the six month delay on repossession orders that many of the banks announced at the end of last year was not taken soon enough,” said NAEA chief executive Peter Bolton King.

“It is also an urgent reminder that the measures taken by the Government to release credit into the market must begin to take swift effect.

“Most importantly, it demonstrates the vicious cycle of recession – in which unemployment leads to missed mortgage payments and repossessions, which in turn discourages banks from lending and, ultimately, stops potential buyers getting onto the property ladder in the first place.

“The Government and the banks must abandon scattergun rescue packages and co-ordinate on an overarching recovery plan to pull us out of this morass as quickly as possible.”

reproduced from http://www.estateagencynews.co.uk/news/news-0209b.asp

Mortgage market "coma" could end soon

2008-05-21T01:32:00.000-07:00

Other mortgage lenders are likely to follow Nationwide's lead in cutting rates on fixed-rate deals, according to comparison site Money Expert.
Nationwide has announced it will reduce the rates on its two-year and five-year fixed rate mortgages by up to 0.3% from 16 May 2008. Matthew Carter, divisional director for mortgages at Nationwide, said the reductions were a result of a recent fall in the rate at which banks borrow from each other to fund their lending to consumers.

Sean Gardner, spokesperson for Money Expert, said: “Nationwide says it is cutting rates in response to the Bank of Englands £50million rescue deal for the mortgage market aimed at encouraging lenders to start lending again, which is a sign that at last something is starting to move.”

The move is a welcome sign that the mortgage market is coming out of its coma, according to Gardner, with more lenders likely to follow suit. However, he added that availability of mortgage products remains a problem for borrowers.

"The Council of Mortgage Lenders figures show lending for house buying at their lowest since 1975 and there’s very little hope that things will get better during the rest of the year.

“If you've not got a substantial deposit nowadays or equity in your house then your choices are still severely limited. On average, if you are remortgaging you now need a deposit of 15.5 per cent if you take out a fixed or variable mortgage.”

Jo on maternity Leave

2008-05-21T01:30:00.000-07:00

Carlisle mortgage advisor Jo McRoberts is due a new addition to the family, Jo who has given many of you valuable advice and help on buying your new home, left work last week to put her feet up for the last few weeks before her new arrival is due. Jo is expected to return to work on a part time basis after the baby is born. In the mean time, other advisors will look after her work and her clients. Please feel free to call us or drop in for a chat and see how we can help you find the best mortgage or re-mortgage deal.

Lizzy disappears for a good cause !

2008-04-23T02:31:00.000-07:00

When Homesearch Property Adviser Elizabeth Hodgson heard about our intention to help Olivia Story she was the first member of staff to commit to raising money.
Lizzy who is getting married next year felt what better way to help than a sponsored slim and get fit at the same time.

Whilst all the staff were heard to say “but you don’t need to lose weight Lizzy” with a target date of the 15th May , she has already lost 2 stone and is looking great.

Lizzy is hoping to lose even more and render Andrew Scott , Director, even more penniless than he pleads already !

Watch this space for the 3 Peaks Challenge where Ashley Graham, Andy Pearson and Stephen Taylor attempt to conquer some of the countries highest peaks , at this rate without any training. Fools we all cry! They are not as young as they used to be !

Local Mortgage Advisor Returns

2008-04-23T02:27:00.000-07:00

New Mortgage Advisor, Mark Keeler, based at our Whitehaven Branch, returns to his home town after working in Carlisle . Mark, previously 11 years with Your Move and other local financial institutions, brings with him a wealth of Mortgage and Protection experience and invaluable local knowledge of the present Property Market. Living in Whitehaven with his wife Kerry and 2 young children , Mark will also cover other areas of West Cumbria.

To speak to Mark about your Mortgage or ReMortgage
ring 01946 690111.

FITNESS FUNDRAISING FOR OLIVIA

2008-03-10T07:59:00.000-07:00

Homesearch Direct Raise Money And Awareness For Meningitis

In the summer of 2006 Olivia Story contracted meningitis, which developed into meningococcal seoticemia and as a result, Olivia suffered the loss of three limbs. Her parents thought she would never walk again. They were proved wrong.

Oliva needs certain equipment to help her lead as near to a normal life as possible. The NHS only provide basic prosthetics limiting activity and full movement potential, however with ongoing fundraising Oliva’s parents will be able to afford the latest technology and help towards a more rewarding future for Olivia.

To help with this, Homesearch have decided to hold several events over the year to raise money and awareness for Olivia:

· 3 Three Peaks Challenge www.3peaks.info/doing.co.uk
· Cockermouth Triathlon www.tri247.com/event.co.uk
· Sponsored Weight Loss

Watch this space …………………………………………………………

Why Use An Agent To Sell Your Home?

2007-12-06T01:42:00.000-08:00

There isn’t an estate agent in the country that hasn’t been told by a member of the public at least once that home-owners really have no need of his or her profession. It might be a very tempting thought, but the reality might just be very different indeed.

What you are paying for when you employ an agent is firstly that firm’s expertise and experience in assessing a sensible guide price, and then controlling the sale from start to finish. Secondly, you are paying for the access to the market through their date base and marketing abilities - which is something that can only be built up over many years.

Agents start earning their keep right at the beginning of the sale process. A home-owner might ask three of four agents for appraisals of the property’s value, and the temptation is usually to opt for the highest. If you offer the house for sale at too high a price then the property might stick on the market for months or even years. The biggest factor in achieving a good sale is to pitch the asking price at the right level; in a strong market the seller might well see offers above that price, but the starting point has to be in the right place. The best person to do that is an established agent with strong local knowledge.

There are many sides to this expertise, and one of the most important – one of the most often overlooked - is the agent’s data base. Your agent will invariably have marketed homes like yours in the recent past, and of course each home will only have been bought by one person. So, if 25 people viewed a property then there are still 24 out there who are looking for a house or apartment of that style in that price range. That’s a very valuable pool of potential purchasers.
Another key to selling a home - quickly and for the best price - is having the right access to the right buyers. Agents have developed these over many years.

If you are thinking of buying a house then one of the very first things you are going to do is drive into the nearest town, walk down the High Street and look in the agents’ windows. Then, having seen a couple of likely properties, you go in and emerge moments later with the printed particulars. It’s also true to say that the standard of presentation – of the offices, the staff, and the printed details – has to be at the right sort of level for that section of the market.

The internet plays an important part in house hunting. These days most property sites will include photographs and location maps. There are also the really big estate agency portals which bring together hundreds of separate agencies. The properties being handled by HomeSearch Direct will also be found on rightmove.co.uk and thinkproperty.com, and the size and breadth of these sites makes the eyes water. For example, right now there are 850,000 individual homes displayed on rightmove.co.uk, and the site is visited more than 17 million times a month! They are also heavily and expensively marketed, and they are the ones that always pop up first when you go into a search engine.

Once a sale is agreed, a good agent will play a very important part in managing the sales process. It can be a difficult and emotional experience for both buyer and seller – researchers always say that it’s second only to divorce in terms of stress – and no matter what problems occur you can be sure that an experienced agent will have come across them before and will know the best course of action.

It’s also true to say that there is no substitute for using trained property consultants when you are reaching that final price. There is an art to agreeing a sale, and agents know the value of patience and not losing sight of the objective. It is always, always in your agent’s interest to get the very best price for your home.

A lot of sales aren’t straight forward unfortunately, but that’s where good agents really earn their fees. We act as the middle man between buyer and seller, and we have the expertise and the experience to do so. If a vendor’s temper starts to fray then we act as a buffer and make sure that isn’t communicated to the purchaser. You would be surprised how many sales nearly fall through over the negotiations over the garden shed or the washing machine.

Some vendors will always be tempted to act as their own estate agent, but believe me, more often than not it ends in tears. Very few people try it a second time!’

Is it a Bargain? Or was it overvalued?

2007-08-08T03:40:00.000-07:00

With one Agent having over 50 price reductions in two weeks, with reductions of up to £35,000 and many with £10,000 off the original asking price. We have to ask is the property market on a downward spiral? Or were the properties just over valued in the first place in order to gain the instruction?

There are many reasons why a seller may genuinely want to reduce the asking price of their home and there can be bargains to be found. Re-location, a bereavement or just someone who had no desperate rush to sell who stumbles upon their dream home and doesn’t want to miss out. Genuine reasons why an owner would reduce their asking price which could mean the chance for a bargain.

But! What if it’s not a bargain, What if it’s just a devious ploy by the Agent to gain a property instruction or to make the public believe it’s a bargain. “Start the price off high and reduce if you need to?” “We can get you more money.” There are many reasons they will give you, but once you have signed their terms you can rest assured they will be targeting you for a price reduction and quite probably a significant one at that.

Valuer Andy Completes Triathlon

2007-06-26T01:13:00.000-07:00

Normally seen bombing around Carlisle rushing from house to house making his excuses for being late Andy, One of Homesearch’s property consultants decided to channel his energy into his fitness and decided to try a tri. Triathlon that is! Donning his “Budgie Smugglers” Andy registered and competed in the Cockermouth Triathlon on 7th June 2007, during which he had to swim 500 meters then cycle 20 kilometres and then run 5 kilometres, all done in blistering 26C degree heat (probably Britains Summer that day). He finished in a very respectable time of 1 hour 13 minutes, placing him in 45th position overall and 26th in his category.

HIP Update

2007-05-31T03:11:00.000-07:00

Government postpones launch of HIPs from 1st June to 1st August 2007. Not all properties required to have a HIP from start.

Key facts
· HIPs and EPCs implementation delayed until 1st August
· Phased implementation starting with properties with four or more bedrooms
· Until the end of the year, Government will allow people to market properties as soon as they have commissioned a HIP
· For more information please visit the Government’s official HIPs website www.homeinformationpacks.gov.uk

"The HIPs delay will be galling for the thousands of people who have invested considerable amounts of money in preparing to meet the HIPs launch. Staggering the implementation lessens the dangers of distortion to the housing market, especially with the upward trend in interest rates potentially lessening the number of buyers.

However, this is yet another new set of rules for home movers, the industry and regulators to try and understand and implement. There was already confusion, and this late change now adds to the complexity.

It is questionable whether HIPs will go ahead at all in its current form, as this is another major blow to the credibility of HIPs following the withdrawal of the Home Condition Report last year. Whilst this decision is very late in the day, there is no point in sticking to the June 1st implementation date if there are not enough qualified Energy Performance Assessors.”

HIP’s (Home Information Pack)

2007-05-03T06:58:00.000-07:00

From 1st June 2007, most homeowners will be required to have a Home Information Pack (HIP) before they put their property on the market.

SO WHAT IS A HIP?

A Home Information Pack provides information to a buyer about a property which they may wish to purchase. The pack must be provided by the home seller or the seller's agent. The pack is intended to improve the home buying and selling process in England & Wales, which is currently very slow and subject to a 30% failure rate.
Under the current system, key information is withheld from both buyers and sellers until a sale is agreed. This often results in costly issues arising later than necessary in the sale process. The Government intends that by using a HIP, information will be provided up front enabling buyers to make an informed decision early on and avoid delays, uncertainties and unnecessary expense. The aim is that this new system will be simple and more efficient.

WHAT’S IN A HOME INFORMATION PACK?

The Home Information Pack contains important information that buyers and sellers need to know. From 1 June 2007, anyone marketing a property, or their representative, will be legally required to have a Home Information Pack and make it available to potential buyers of the property.

Compulsory Items Include :-

Home Information Pack Index

The Index provides a checklist for sellers, buyers, estate agents and enforcement authorities. Where a document that must be included in the Pack is unavailable, the Index must say so, give the reason it is missing, and indicate what steps are being taken to obtain it. Where documents are added to or removed from the Pack at a later stage, the Index should be revised accordingly.

Energy Performance Certificate

Energy Performance Certificates tell you how energy efficient a home is on a scale of A-G. The most efficient homes - which should have the lowest fuel bills - are in band A.

The Certificate also tells you, on a scale of A-G, about the impact the home has on the environment. Better-rated homes should have less impact through carbon dioxide (CO2) emissions.

The average property in the UK is in bands D-E for both ratings. The Certificate includes recommendations on ways to improve the home's energy efficiency to save you money and help the environment.

Sale Statement

The sale statement should provide some basic information about the site, including:

The name of the seller and the address of the property being sold
Whether the property is freehold, leasehold or commonhold
Whether the property is registered or unregistered
Whether or not the property is being sold with vacant possession

Standard Searches

The Home Information Pack must include :-

The local land charges register relating to the property being sold. If the search is carried out by the local authority, an official search certificate will be provided. Alternatively a personal search company can be used.

Other records held by the local authority on matters of interest to buyers, such as planning decisions and road building proposals. These are referred to as local enquiries in the Home Information Pack regulations. A local authority or a personal search company can be used.
The provision of drainage and water services to the property. The local water company or a personal search company can be used (however, the search must comply with the HIP Regulations).

Evidence Of Title

These documents prove that the seller owns the property and therefore has the right to sell it. Where the property being sold is registered, certain documents that are available on request from the Land Registry must be included in the Pack. These provide an up-to-date official record of who owns the land, and consist of:

Official copies of the individual register (made up of a property register, proprietorship register and, typically, a charges register)

An official copy of the title plan

For sales of unregistered land, the Pack must include copies of a certificate of an official search of the index map (obtained from the Land Registry), and those documents that the seller intends to rely on to provide evidence of title to the property, and thus the right to sell it.

Additional Information For Leasehold Properties Include

A copy of the lease

Any regulations or rules that apply to the property that aren't mentioned in the lease and any proposed amendments to same

Statements or summaries of service charges covering the previous 36 months

Where appropriate, the most recent requests for payment of service charges, ground rent, insurance against damage for the building in which the property is situated, and insurance in respect of personal injury caused by or within the building during the 12-month period before marketing began

The name and address of the current or proposed lessor, and details of any managing agent that has been appointed or proposed by the lessor to manage the property

A summary of any works being undertaken or proposed that will affect the property or the building in which it's situated.

Optional Items Include :-

Home Condition Report

A Home Condition Report contains information about the physical condition of a property, which sellers, buyers and lenders will be able to rely on legally as an accurate report.

The Report is an important part of the Pack, and can be included by sellers on a voluntary basis.
Sellers who provide a Report will have an early opportunity to carry out repair work on the property or obtain quotes prior to marketing.

Legal Summary

Home Information Packs will contain some complex documents that can be difficult to understand. The optional summary of the legal content of the pack could therefore be very helpful to buyers, although it will not remove the need for buyers to take their own legal advice as well.

Home Use Contents Form

Home Use and Home Contents Forms let sellers give buyers information on a range of matters relating to the property.

These include information on boundaries, notices, services, sharing with neighbours, planning permissions and other matters of interest to potential buyers.

It is usual for sellers to declare which fixtures and fittings and other contents of the property are included in the sale, are excluded from the sale, or are subject to negotiation.

Other Documents

Sellers could speed up the sale if they include non-standard searches in the Home Information Pack where appropriate.

For example, it's standard practice to obtain a mining search in areas where coal mining has taken place. Sellers in these areas will save time if they provide this search in the Pack.
Other searches cover rights of way, ground stability and actual or potential environmental hazards such as flooding and contaminated land.

Sellers will also want to include guarantees and warranties for work already carried out on their homes.

HOW MUCH WILL A HIP COST?

As of writing no firm costs have been set however the general figure which at the moment depends largely on the availability of qualified Domestic Energy Assessors is set to be around £400 + vat.

Various payment options will be available including up front payment, deferred payment and credit options.

WHAT DO I DO NOW?

Anyone seriously thinking of selling now should contact an Agent and arrange for their property to be marketed immediately before June 1st to avoid the HIP.

After 1st June it would make sense to choose an Agent who is using one of the top four National HIP Providers, Choose an Agent that has a HIP which is transferable should you choose to change agents and be wary of HIP inclusive fee packages where the Agent has a tie in period and will not only keep your HIP if you withdraw the property but will charge you a hefty withdrawal fee for the pleasure.

Wigton Office Now Open

2007-04-11T03:00:00.000-07:00

HomeDearchDirect are proud to announce the opening of their new Wigton office, situated at 10 – 12 High Street, Wigton. Staffed by Pamela Jackson and Donna Graham both formerly of Cumbrian Properties and local to the area, they bring a wealth of knowledge and experience in the selling of property. The office will be over seen and managed by Ashley Graham who is also no stranger to the area. Together they bring over 25 years experience. In addition there will be a mortgage advisor on hand to offer independent advice on the 1000’s of mortgage products available.

Offering the same competitive fixed price sales fee’s and good old fashioned customer service alongside a genuine no sale/no fee agreement with no tie in period and no withdrawal fee. We guarantee to contact all our vendors on a weekly basis and each property will be advertised regularly in the Cumberland News and can be accessed 24 hours a day, 7 days a week on no fewer than 6 internet websites including rightmove and thinkproperty.

If you are currently looking to buy, trying to sell or wanting to sell a property in the Wigton area why not call in for a friendly chat or ring us on 016973 41090.

We guarantee we will not to be beaten on service or fee.

How much is your house worth?

2007-03-01T08:13:00.000-08:00

How much is your house worth?

When people think about moving the first question that usually pops into mind is, “how much is my house worth”. So with great enthusiasm and excitement they call an Estate Agent and ask them to put a value on the property.

Simple you would think………..not always!

There are some Estate Agents that continue to price property at far higher values than that of other agents. Why?......To out price the competition and to ultimately get the property on their books; after all we’re all human and it’s only natural to want the most money from the sale of our property. However, when an unrealistic sale price is put on a property, owners should not be surprised if there is little or indeed no interest in their property. Having wasted time advertising the property at the higher price, the owner usually has to either reduce the price or accept a far lower offer to secure a sale.

So what do agents gain by valuing higher?

In short it usually starts with the valuers ego. Every valuer wants to get your property instruction because the more properties they get on the books the greater the number of potential sales. The greater the sales……… the bigger the pay check.

Once they have your property on their books they can and often do, tie you in to a lengthy contract of between 10 and 20 weeks, so if your not getting any viewings or aren’t happy with the service you don’t have much choice other than to sit it out or reduce the price in order to sell.

How can you tell if your house price is right?

Experience counts for a lot, there are many young and inexperienced valuers out there so ask how long have they been in the job and what training they have had? Find out what they have used for comparables and ask them to show you, it’s easy to pick up comparables of similar properties with marketing and sold prices using various resources. Check the Agents current stock, if they have unusually large amounts of property on their books ask how long they have been on the market for and why aren’t they sold? Last but not least ask yourself honestly what would you pay for your house? If someone quotes you an unusually high price that seems to good to be true it usually is.

ALWAYS REMEMBER at HomeSearchDirect we don’t over value to gain instructions, we don’t have any tie in period or withdrawal costs, we always check comparables (copies available on request) and in 2006 we consistently sold over 66% of our stock. Call us now on 01228 515515 for a free market appraisal to find out how much your house is really worth!

Don't be fooled by the size of the Advert!

2007-01-29T01:18:00.000-08:00

Many people wrongly judge Estate Agents by the size of their adverts in the local newspaper. Don't be fooled.

Most would presume that Agents who advertise with 2,3 or even 4 pages in the newspaper would guarantee them more frequent advertising. But the fact of the matter is, many of these multi page Agents are representing 2 or 3 different offices and with the amount of properties they have for sale, say in some cases 300 plus this can mean you actually see your property in the paper less often.

At Homesearch Direct we try to keep stock levels at around 60 or so properties meaning your home will be advertised more often. We will give you a written guarantee that your property will be advertised for the 1st 2 weeks and then a minimum of every 3rd week. Can any other agent give you that? The answer, probably not!

New Property Sales Manager!

2007-01-04T02:08:00.000-08:00

Ashley Graham joins us as our new Property Sales Manager.

Formerly Senior Valuer with Cumbrian Properties he brings with him a wealth of local property experience in addition to an already growing and successful team.

‘Ash’ is aged 34 and after leaving St Aidans School joined the Royal Navy with the hope of seeing the world but got stuck on a ship in dry dock so he left and went travelling.

Travelled through Europe, America, Australia and Thailand, worked in a bar on Corfu, worked selling sunbeds on the beach on Crete, worked in a hotel in Venice Beach, L.A. and on Yachts in Los Angeles.

Had a 2 year spell selling double glazing then went to Carlisle College and got a Diploma in Information Technology and an NVQ level 2 in Business Administration.

Got a job for H.F.C. Bank arranging personal loans then moved to N.W.S. Bank specialising in Car Finance.

Moved in to the Motor Trade and worked as a car salesman .

Then went to Cumbrian Properties in January 1998 where he started in the letting department and worked his way up to being their senior valuer covering Carlisle, Wigton and Brampton.

Latterly was the Valuer and Manager of the Wigton office.

Spare time hobbies include travel, the gym and mountain walking.

Autumn Property Market 2006

2006-10-30T02:36:00.000-08:00

As Christmas rapidly approaches the market still remains buoyant for the time of the year and looks set to continue in this fashion through the next few weeks. However once the Christmas shopping rush really does set in the market is sure to quieten down. There is still time remaining however to find your ideal home and there is no shortage of buyers and sellers entering the market. Watch this space!

Steven Taylor - HSD Property Consultant

Homesearch Direct goes mad and moves on !

2006-08-18T05:44:00.000-07:00

I order to assist people to change agents who hold on to dissatisfied clients due to withdrawal fees within a commitment period (HSD don’t have either)- We are offering to pay those fees upon a Sale with ourselves.

Good move ? Only time will tell!

Removal operative Whinstons Removals can be seen travelling the byways of the Country and Europe adorning the Homesearch Direct logo and info. I am not aware of a more competitive removal company and he gives even more discount to our clients. A local Carlisle move is £500 (£375.00 for us)- there’s a challenge to you !. He would be more than happy to hear from you on 0771 353 0626 ,although he may talk you to death ! In a nice way !

Mortgage Market

2006-08-18T05:39:00.000-07:00

Now things may get interesting for many of us after borrowing more than ever to buy the home we really wanted or raising money to buy the 2nd home abroad , we now have to be wary as the Bank of England base rate rises a quarter percent and there are rumours it may be increased again but nobody really knows. However all those with tracker or discount mortgages may start to get a little nervous as fixed rates become even more popular. The mortgage market tends to run in 2/3 year cycles so be careful not to tie yourself into any deal long term unless it suits your circumstances as flexibility is always an advantage.

Money is still readily available and Lenders have never been as flexible in their approach to lend to anyone in any situation, in some circumstances recently I have been amazed what lenders will accept compared to years ago.

Remember we are still spoilt with rates being as low as they are. I can remember in 1991 when the first Gulf War took place and the normal rates went to 15.25% and people would give their right arm for a 10% Fixed Rate.

We are told due to us being more involved with the European Business and Finance Markets this should never happen again. But don’t ask anyone to guarantee it !

Property Market

2006-08-18T05:34:00.000-07:00

Whilst the time of year is traditionally quieter due to local summer holiday periods and children being off school there is still a relative buoyancy about lower priced property but a definite stagnation of homes for sale between say £180 –£270K. It appears that due to extreme choices within that price range, a reluctance of people wanting to reduce their prices to a more realistic level, over pricing by Agents to win the instruction and the belief that we all think our homes are worth more than the market dictates , means there is not much happening.

Don’t get me wrong, we all know a well presented house ,realistically priced, will sell easily in any market but many feel they are not getting much more space/quality for a lot more money.

However, if you have £300,000 plus to spend , now can be a good time to buy if you find a vendor willing to play the game.
Whilst most agents will always talk up the market, especially if they want your house to sell, watch this space to see what happens come September when we all get back to some normality.

Back to Work for a Rest!

2006-08-18T05:33:00.000-07:00

Always an interesting time for most Smaller Employers when half your staff are away on holiday or about to be and rather than struggling along I decided to join them and go to warmer climbs myself and leave the remaining few to cope.

Having returned from mainland Spain with my family most people would hope to be refreshed. I Wish !

On our first night away the local drug/alcoholic decided to attack me whilst I ordered our first meal. I then spent a total of 6 hours in a non English speaking Hospital , had 4 traumatised children and had a talking point for the rest of the holiday.The complex pool was temporarily closed , I sported a scar ridden face for the 12 days and the day we were due to return the worlds terrorists decided to cock up the entire British flight program .Having said all this we had good weather and still managed to arrive back in Newcastle on time courtesy of Easy Jet.
On our return the Washing Machine died, the builder had not turned up to do the work he said he would whilst we were away and the roofer told us nearly £4000 to repair the roof. It was great to be back !