'Price ahead' and you'll find a buyer

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Thursday, February 09, 2012
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Tamworth Herald

THE property market has started strongly this year with all of our sales offices in the region reporting healthy levels of activity.

Overall, buyers registering increased year-on-year by 29 per cent, viewings carried out increased by 30 per cent and the number of offers that we received increased by an incredible 67 per cent.

However, new instructions to the market remained very similar to last year, effectively meaning that available properties reduced throughout the month. Will this mean that prices will increase? Probably not – but it should ensure that prices remain stable.

Pricing remains incredibly sensitive with buyers being extremely price sensitive and although they are not always looking for a bargain they are looking for sensibly priced and well-maintained properties.

Our recommendation is to always price ahead of the market if you want to ensure that your home sells within a reasonable time frame.

All property types received a healthy level of interest – although homes priced between £200,000 and £500,000 received the highest number of enquiries. One property in Four Oaks was sold subject to contract over a weekend for an asking price of £249,999. The simple fact is that if your property is priced sensibly, it will sell in the current market.

Obtaining mortgages is still tough, with many lenders requiring an enormous amount of financial information before making a decision to lend. However, they are still lending – and buyers simply need to be prepared to supply all of the information that they ask of you.

Overall, we have witnessed a very positive start to the New Year in the local property market – helped, no doubt, by the good weather that now seems to have disappeared!

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