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How to sell your property quickly in Summer

With plenty of buyers motivated to move before the winter months set in, summer can be the perfect time to sell your property. If you’re selling, or considering selling, then read some of our pointers to help you sell quickly this summer…

Kerb appeal
As is always the case with selling properties, a first impression can make or break a sale with a poorly presented property often putting off buyers before they have even set foot in the home. In the summer this is especially important as buyers will often drive or walk past a property before they decide to book a viewing. With the summer sun shining a light on any less-than-perfect parts of the exterior of your property, you should ensure that flowers are planted, weeds are pruned and lawns are mowed. Extra attention to details, such as ensuring that the front door has been cleaned and the windows are streak-free will pay dividends in your selling process.

Accessories
A neutral interior will appeal to a mass market and increase the scope of your property in terms of potential buyers, but if you are looking to make the most of the summer then don’t be afraid of colour. Using accessories to add pops of colour around your home that reflect the brighter summer season – such as burnt orange and lemon – will make your property stand out from the crowd in those all-important photographs.

Lights
When we think of summer, we all first think of sunshine and brighter evenings – so make the most of this light when presenting your home for sale. Get rid of heavy curtains and dark blinds, which can make a room feel smaller and prevent the light from entering a room. Buyers want to feel that rooms are bright and spacious, so if possible, have windows and doors open throughout the house to create a light, airy feeling (as well as bringing in those fresh summer scents).

Set dress
Set dressing refers to the arranging of a room or space in order to paint a picture of the kind of lifestyle which could be enjoyed in your property. Never is it more important to set dress your garden than throughout the summer months, with potential buyers wanting to know that they will be able to enjoy the outdoor space which your home provides. Tempt potential buyers by showing off your outdoor spaces with garden furniture, fire pits and barbecues.

Viewing times
During the summer months, many people like to start work early and leave early in order to benefit from the longer evenings; make sure that you can accommodate as many viewings as possible by being flexible with your viewing times. Allowing people to view your home early in the morning, as well as in the afternoon will help bring more people through the door as well as showing off your property in a favourable light.

Fife Properties Managing Director, Jim Parker commented: “Summer is certainly a lot faster when selling as people can now view in the evening because of the lighter nights. All these tips can add real value to your property and often get more than the home report value as people can see themselves moving in easily with not much to do. Now is the time to sell while the going is good”
Fife Properties currently offer a FREE initial consultation service which not only provides an idea of the current value of your property but gives extremely useful advice on maximising the value when selling. To book click the link: https://www.fifeproperties.co.uk/property-valuation/

Traditional estate agents found to be good value for money

With recent changes to the landscape of estate agency, including online-only providers and new fee structures, it may come as a surprise to some to see that traditional estate agents are considered good value with regards to fees and value-for-money, estate agent comparison site GetAgent has found.

The review site has found that 84% of home sellers who purchased a property over the last year decided to use a traditional estate agent, with 69% of those feeling that the fee which they paid was good value for money. It would seem, therefore, that when making one of the biggest decisions that many of us will ever make, the traditional method of building a relationship with an agent who then leads you through the buying or selling process is still heavily favoured.

Colby Short, founder and chief executive of GetAgent, said: “We’ve seen some big changes to the sector over the last decade through the rise and fall of the online agent and this consumer learning curve has led to an adjustment in opinion when it comes to the fee charged to sell a home.

“While a low fixed fee may have seemed like the future of home selling and many may have sold successfully via that model, a number of high-profile company collapses along with a consistent string of customer service failures has seen the market share of online agents fail to live up to expectation.

“Previously, the commission fee charged by traditional agents was seen as too high, I think the consumer is now starting to realise that you get what you pay for.

“To pay a few thousand pounds in commission to achieve a higher sold price while securing a buyer in current market conditions is ultimately much better value for money than a few hundred up front and no sale achieved at the end of it.

“Of course, the current lethargy plaguing the market is not ideal and has evidently had an impact on the price achieved and the time it’s taking to sell, but I think it has helped demonstrate the worth of a good estate agent which is a silver lining for the industry at least.”

Fife Properties Group Office Owner, Jim Parker commented: “I agree. Choosing an Estate Agent to sell your house will probably be one of the most important things you will ever do. While fees are important what is equally important is the end result. Having an Estate Agent that can demonstrate the ability to achieve more than the asking price on consistent basis could far outweigh trying to save a few hundred pounds in fees at the beginning. We have that track record”

Fife Properties currently offer a FREE initial consultation service which not only provides an idea of the current value of your property but gives extremely useful advice on maximising the value when selling. To book click the link: https://www.fifeproperties.co.uk/property-valuation/

Property transaction numbers increase by 4%

A key indication to the health of the property market is always transaction numbers, with healthy transactions pointing towards a strong marketplace with serious buyers. In April this year, there were an estimated 64,000 transactions which represents a 4% increase in transactions from the same point last year, according to LSL and Acadata.

With a marked increase in transaction numbers, the market is proving to be extremely resilient in a turbulent political landscape. Strong first-time buyer activity in the marketplace, with many taking advantage of the Government Help-To-Buy scheme, as well as the changes to Stamp Duty encouraging purchases. Indeed, only 65% of transactions were reported as liable for Stamp Duty during the first quarter of this year.

Supporting this increase in transaction volumes is an extremely solvent mortgage market, with more money being injected into the housing market in May 2019 than at any point since 2017. In May this year almost £9bn of home-purchase mortgages were approved by banks and lenders, which is 6% higher than the previous month and an 11% increase on the same time last year.

“April’s marked rise in mortgage approvals suggests that housing market activity may well have got at least some temporary support from the avoidance of a disruptive Brexit at the end of March,” said Howard Archer, chief economic adviser at EY ITEM Club, an economic forecasting group.

It seems that the sentiment in the market is that both buyers and sellers are somewhat fed up of waiting for a Brexit resolution, and are therefore eager to carry on with their property transactions in the present rather than biding their time.

Fife Properties Managing Director, Jim Parker commented: “It is business as usual as the public cannot hold on forever to see what Brexit brings. I am not convinced that it will have any further adverse effects as these have already been factored in when people are deciding. The reality is you have to move for circumstances and not because you feel like it so my advice is always to do it now if you need to, as you don’t know what will change later.”

Fife Properties currently offer a FREE initial consultation service which not only provides an idea of the current value of your property but gives extremely useful advice on maximising the value when selling. To book click the link: https://www.fifeproperties.co.uk/property-valuation/

Supply and demand outstrips Brexit concerns

With the Brexit date being pushed back once more, it would appear that supply and demand for property is now the driving factor in the market, with Brexit taking the back seat in terms of market-driving factors.

In a recent survey from property investment company SevenCapital, nearly 69.5% of investors continued to invest in the United Kingdom despite the spectre of Brexit. Indeed, this confidence in the United Kingdom property market is echoed by international investors, with nearly 95% of the Hong Kong respondents believing that Brexit isn’t a critical factor in their investment decision.

SevenCapital points out that the Sterling has risen in value – a better indicator of fiscal stability – and this outweighs any potential impact that Brexit may have levied upon the market. With the average price of properties increasing last month by over 1% or £3,347, according to Rightmove, then house prices are also reflecting this upturn in the market.

Despite the headlines that Brexit has provided of late, it is evident that other factors are driving the property market, both sales and lettings. A key point to note is the lack of housing supply and increased demand of late with this duality keeping the market buoyant, despite any political uncertainties. With first-time buyers now at record levels and keen to buy, there is a whole new swathe of potential buyers entering the market which is creating an extremely competitive sales environment.

Fife Properties Group Office Owner, Jim Parker commented: “Brexit has been put to the side in the public’s mind as many believe it could now not happen or if it does will have little effect.”

Fife Properties currently offer a FREE initial consultation service which not only provides an idea of the current value of your property but gives extremely useful advice on maximising the value when selling. To book click the link: https://www.fifeproperties.co.uk/property-valuation/

One in six parents are remortgaging for their children

With interest rates remaining incredibly low and competition amongst lenders producing some of the most favourable finance options ever seen, many are remortgaging in order to benefit from cost savings. Rather than simply easing the financial burden, however, recent research has shown that many parents are remortgaging in order to gift the extra money to their children.

A popular Price comparison website has found that one in six parents who remortgage their home then gift some of that extra cash to their children, with the average financial contribution standing at £9,050 per child and nearly 10% of parents giving over £20,000.

More than a third of the children who receive the financial gift utilise it as a deposit for a property, whilst others use it to go travelling (11%), buy a new car (11%) or pay for ‘everyday essentials’ (9%).

Rachel Wait, consumer affairs spokesperson at the price comparison website commented: “Our research found that 15% of parents released equity when they remortgaged to help their children. However, you’ll only be able to do this if your property has gone up in value and you’ll need to be sure you can afford to keep up with your new repayments.

“It’s also important to factor in the costs associated with remortgaging, such as arrangement fees which can be as much as £2,000, as well as legal, admin and valuation fees. Try to be realistic – only release equity to help your children with life events if you can really afford to do so.

“Also keep in mind that because a mortgage takes so long to pay back, remortgaging may not be the right option for everyone – there may be cheaper ways of getting a cash sum. It’s important to look at all options and shop around before making a decision.”

Fife Properties Group Office Owner, Jim Parker commented: “Remortgaging is a popular choice in a rising market but you need to be careful this does end up backfiring on you if the market does not continue to rise and leaves you in a difficult position that you cannot move when it becomes essential.” Fife Properties currently offer a FREE initial consultation service which not only provides an idea of the current value of your property but gives extremely useful advice on maximising the value when selling. To book click the link: https://www.fifeproperties.co.uk/property-valuation/

The best ways to add value to your property

When we decorate our properties, it is often driven by personal preferences in order to make a space fit into our own idea of what is stylish. However, if you are not just looking to decorate a space but to maximise the potential value of your property, then read our guide which explores the best ways to add worth to a home.

Solve existing issues

If you’re thinking of adding value to your property then don’t jump straight to improving the aesthetic of particular rooms in order to gain the much-lauded “wow factor”; instead, make sure that your property is structurally sound. It may have less cosmetic impact, but a house with a leaking roof, subsidence or damp will be severely hindered in achieving a strong asking price due to the perceived costs and effort in fixing the issues. Take the time to assess your property and ensure there are no major defects, and this will give a solid foundation for your property to achieve the best price on the market as buyers will not be scared away by problems, nor will they be able to barter the price down.

Central issue

Take a look at the central heating system in your house – does it look modern and fit-for-purpose or is it on its last legs? If your central heating isn’t quite up to scratch, then replacing this is a sure-fire way to add value to your property as it is another issue which has the potential to put off potential buyers. Although the initial outlay for the central heating refit may seem high, you should more than recover these costs when selling the property as it is another key point which will assure buyers that your property is well-cared for.

Extra space

Adding additional living space will always attract potential buyers as this offers them versatility in the way in which they will use the property; however, before you convert that loft or garage then we would recommend doing a little research. A converted loft can add thousands to the asking price of your property, so it is certainly something to consider – before you undertake this do take a look at similar properties in your area and do some investigation as to what the top selling price has been lately. There will be a ceiling price to the properties in your area, and therefore before you add a room, make sure that there is the potential to recoup the cost in the asking price of the property.

Decoration

If you’re looking to add value to your property without any major outlay, then picking up the paintbrush could be the answer. Freshen up any paint that has seen better days around the house and do the same in the bathroom, checking on any sealants to ensure they are crisp and clean. Clean up a few simple defects and potential buyers will see your property in an entirely different light, willing to pay more for a home that they perceive to be in excellent condition. This should extend to the frontage of your home, so ensure lawns are mowed and outside areas look cared for.

Kitchens and bathrooms

That old saying that homes are sold due to their kitchens and bathrooms is true, to an extent. Having a modern kitchen and bathroom will add considerable value to your property, as well as generating much more interest from potential buyers. If you don’t want to invest in a brand-new kitchen and bathroom, then update your current spaces in order to make them more sellable. Kitchen cabinets can be painted to modernise them, and changing the door handles to something sleeker will also help to create the feeling of a newer space in the kitchen. In the bathroom, refresh the paint on the walls, keeping it as neutral as possible, and ensure that the space is bright and airy – add mirrors to make the space feel bigger, and use accessories to add colour into the space.

Fife Properties Group Office Owner, Jim Parker commented, “A different take on the typical advice and some of these top tips can be done at an inexpensive price which can completely revitalise your property so it’s often worth doing when selling to enhance the buyer experience as it often translates to a higher offer” Fife Properties currently offer a FREE initial consultation service which not only provides an idea of the current value of your property but gives extremely useful advice on maximising the value when selling. To book click the link: https://www.fifeproperties.co.uk/property-valuation/

Fife Properties Estate & Letting Agents wins ‘Best in County’ award at The ESTAS

Fife Properties Estate & Letting Agents wins ‘Best in County’ award at The ESTAS again for the 9th year, the most prestigious estate & letting agent awards in the UK

The Glenrothes, Leven and Cupar based agency received the ‘Best in County’ title for the Kingdom of Fife at the prestigious ESTAS 2019. The award was announced by Phil Spencer, the TV property expert at a lavish luncheon & ceremony at the Grosvenor House, Park Lane London attended by 1,000 of the UK’s top property professionals.

The awards, celebrating their 16th year determine the best estate and letting agents in the UK based purely on feedback from customers who are asked a series of questions about the service they have received from their agent, over 45,000 surveys were completed by customers during the competition.

Phil Spencer, who has hosted the ESTAS every year since their inception in 2003 said: “The ESTAS encapsulates what your typical agent is trying to do, which is to provide honest, transparent service for their clients. These awards are special because shortlisted and winning firms are selected purely on the service they deliver. Real feedback from real customers experiencing real service, I don’t think there can be a greater honour in the industry than to receive an award based on that mantra.”

Estate and letting agents were recognised in counties around the UK. Regional and national Grand Prix Awards were also announced for the Best Single Agent Office in sales and lettings.

Simon Brown Founder of The ESTAS said: “At The ESTAS we’re proud to say we believe in old fashioned values like customer service. We know how hard it is to deliver it and that’s why we put the spotlight on property firms who are committed to providing excellent service. The ESTAS review and awards platform brand help agents generate consumer trust.”

Richard Cook, Lettings Director of Fife Properties said “We are absolutely thrilled to be recognised at this year’s ESTAS again and this is the 9th time we have been Fife’s No.1 Letting Agent. It means so much to us as we know it’s our customers who have judged our performance over all our offices in Fife. We take our levels of customer service very seriously because we know clients have a choice. We have always been very proud of the personal service and this proves we are delivering what we promise.”

Jim Parker, Managing Director of Fife Properties said “It’s a great achievement to be awarded the top letting agent for the 9th time by our customers but over 95% of the ones that voted in the Estate Agents category rated us as excellent or amazing. Again, confirming why more and more customers recommend us to their friends and family.”

Read our tips to increase your kerb appeal

Any estate agent will tell you that making a good first impression is key when presenting your home for sale. Potential buyers and renters are always extra vigilant when it comes to viewing properties, from the front gate to the back garden, meaning it’s even more important to present your home in its best light from the off. But even if you’re not looking to sell up, there’s something to be said for sprucing up the front of your home.

One of the best ways to do that is to maximise your kerb appeal, which refers to how striking your home is when viewed from the road. When you think about searching for properties online, how likely are you to click on details for a home if the lead photograph is rather drab? The homes that perform the best on property websites like Zoopla and Rightmove are the ones that can grab the attention from the off.

Thankfully, maximising your kerb appeal doesn’t have to break the bank!

1) Front and centre

The front door is always a good place to start, especially as it’s one of the first things that people see when it comes to your home. UPVC doors can be cleaned easily enough with the right product, and if you’ve got a wooden door, why not consider a fresh lick of paint? You can also bring your garage or front gate into the equation for a bit of colourful synchronicity.

Giving your letterboxes and door handles a polish shows good attention to detail, but if they’re looking a little tired, don’t be afraid to replace them.

2) Plot your path to success

The path to your front door or outdoor paving stones can get dirty with ease, so applying some TLC, whether that’s with a pressure washer or a good ol’ bucket of warm water and a scrubbing implement will instantly help your outside space.

If you have paving stones, then keeping your weeds in check is also a shrewd move; pulling out the week killer for large front porches, paths or driveways will make things look far neater.

Gravel is a feature of many a home, and it’s also one that’s easily refreshed with a bit of colour. Locate some similar stones to your current palette and use a rake to spread them together and you’ll be surprised by how much it refreshes the approach to your front door.

3) Plant an impression

A simple touch, but an effective one. Adding some greenery around your front door suggests to the naked eye that you take care of your property and look after your home, so look into some potted plants to go outside your front door. Hanging baskets are another option if ground space is limited.

4) Window dressing

The windows on your front room are another area where little touches can make a big difference. Have a look into replacing your curtains or blinds with lined alternatives for a tidy appearance, or, if your windows aren’t providing you with sufficient insulation, you could even look at replacing them altogether.

5) Night Lights

Finally, take a look at the area around your front door at night and imagine how much more welcoming it could be with a bit of light. An outdoor power supply will help if you’re looking to install something akin to a classic-style lamp, but you needn’t go overboard; a solar-powered light is easy to install, charges itself during the day and won’t cost you extra!

Fife Properties Group Office Owner, Jim Parker commented, “Some of these top tips can be done at an inexpensive price which can completely revitalise your properties kerb appeal so it’s often worth doing when selling to enhance the buyer experience as it often translates to a higher offer” Fife Properties currently offer a FREE initial consultation service which not only provides an idea of the current value of your property but gives extremely useful advice on maximising the value when selling. To book click the link: https://www.fifeproperties.co.uk/property-valuation/

The UK has the cheapest agent fees in Europe

For most of us, the purchase of a property will be the biggest single expense which we ever have to cover, and the fees associated with this are often touted as expensive. However, a recent report has shown that fees in the UK are the lowest in Europe and therefore the old myth of expensive fees has been debunked, with other parts of Europe up to five times more expensive than the UK.

The average commission paid on the sale of a property in the United Kingdom is 1.2%, according to analysis from GetAgent, which is lower than all other European countries, with Denmark and Ireland next cheapest at 1.25% and 1.75% respectively. On the other end of the scale is Romania with an average fee of 6% – five times more than the UK.

“I think it’s fair to say that estate agents in the UK have a tough time of it when it comes to justifying their fees, with the predominant opinion being that they charge too much for the service provided,” said Colby Short, GetAgent’s chief executive officer.

“This really isn’t the case and as this research shows, the UK is actually home to the lowest estate agent fees in the EU and therefore you could argue, the best service as well. Of course, the price of property means there is a degree of relativity and the 6% commission you might pay in Romania will be a lot lower due to the lower cost of getting on the ladder,” he pointed out.

“So while you consider if three to four thousand pounds is a justifiable spend when selling a property for hundreds of thousands, remember you could be paying upward of ten thousand if you were to live in another area of Europe,” he added.

Fife Properties Group Office Owner, Jim Parker commented, “Choosing an Estate Agent to sell your house will probably be one of the most important things you will ever do. While fees are important what is equally important is the end result. Having an Estate Agent that can demonstrate the ability to achieve more than the asking price on a consistent basis could far outweigh trying to save a few hundred pounds in fees at the beginning.”

Fife Properties currently offer a FREE initial consultation service which not only provides an idea of the current value of your property but gives extremely useful advice on maximising the value when selling. To book click the link: https://www.fifeproperties.co.uk/property-valuation/

Housing supply and demand are both on the up

If you’re of the mindset that the property market is in the midst of a period of difficulty, then the latest figures from the National Association of Estate Agents (NAEA) will surely change your mind, with both the supply of housing and the demand for housing at increased levels proving the market’s current health.

The NAEA Propertymark’s latest figures have shown that the supply of available housing increased by 20% in December. The number of properties reached the highest level for December since 2014, with housing supply per branch increasing to 42 – an increase from 35 per branch in November. Simultaneously, the number of house hunters also increased by 8% in December, with overall demand up 13% year-on-year.

Mark Hayward, chief executive at NAEA Propertymark, said: “This month’s findings prove that despite the current political climate, people still want to move. There is movement in the market with demand from house hunters up 13% year-on-year, and the supply of available properties also rising. Although the number of sales agreed hit a 12-month low, this is something we always see in December, with Christmas festivities typically taking priority over any plans to buy or sell.

“While many are adopting a ‘wait and see’ strategy until there’s further clarity over what Brexit might mean for the market, there is choice for those who want to buy now, and there are people on the market looking for new homes.”

First-time buyer sales also showed an increase in December, with the number of properties sold to the group increasing to 24%. With first-time buyers integral to the health of the property market, rising statistics in terms of their buying potential is always a good indicator of the viability of the market.

As we move further into 2019, it is difficult to predict whether the health of the market will remain consistent in the face of political instability and the financial effects of this lack of consistency. On the other hand, there are other macroeconomic conditions which are favourable for the health of property across the country, such as historically low-interest rates and the relative ease to obtain mortgage credit. These conditions mean that more people than ever are in a position to take out a mortgage and purchase a property, with schemes also available to alleviate the trouble which some find in saving for a deposit, and this increased demand should shore up the market even after Brexit has (or indeed, hasn’t) taken place.

Fife Properties Group Office Owner, Jim Parker said, “It is always best to get a specialist to help get the best deal on financing. Often it far outweighs the fee for arranging the mortgage itself”

If you want to book a FREE initial consultation with our specialists please tap the link to contact any of our local offices or book online https://www.fifeproperties.co.uk/contact/

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