MARKET UPDATE JANUARY 2009

January has been much busier (by previous January figures it is still very low) but at least there has been a significant increase in all areas – valuations, instructions, mailing list applicants registering, viewings and dare I write it…. Offers and some sales too. Mostly these are on properties where sellers have adjusted their asking prices and been open to offers. We haven’t experienced any mortgage application refusals, I think the bigger problem has always been people not even applying as they are too cautious in case they try and get refused. Still no interest in HIPs, the searches are usually out of date and have to be re-applied for, which seems a real waste of time and money. Vendors really don’t like paying for something perceived by them as useless. They are however being completed promptly –usually in under a week for freehold, so I don’t think there will be too long a delay in April for marketing new properties, although it will test our patience I am sure!

MARKET UPDATE FEBRUARY 2009

The market here has improved significantly over the past month and we have seen some first time buyers and investors looking for a bargain now prices have fallen 10-15% in this area. Viewings, offers and sales are all creeping up, but taking time to arrange and are a bit sticky going through. A definite improvement on the past year!

MARKET UPDATE SEPTEMBER 2008

There are still sales being agreed, but new listings and price reductions are drying up, as you drive around the county there are still a lot of boards up for sale. There is still no interest in HIP’s. People are still exercising caution when it comes to making offers and some sales are falling through due to peoples fear for the economic future. In contract lettings is very busy and buoyant.

MARKET UPDATE JULY 2008

The market has quietened down as usual now the Summer holidays have started. Sales are still possible with hard work, realistic prices, committed vendors and quality promotion. HIPs are still a waste of time – none are ever looked at. Agents seem to have cut back on lots of their usual costs – advertising in the local press, staff and websites. Regular client contact is essential to keep vendors happy although almost all seem to understand things are moving more slowly. Several of our most recent sales were to cash buyers and to one first time buyer – so they must still be out there – just a bit cautious.

MARKET UPDATE AUGUST 2008

Herefordshire is still seeing plenty of property available for sale, few chain free buyers, ample people currently on the market looking to buy but haven’t yet sold theirs so not able to proceed and generally not viewing either. This means that almost all leads are genuine and may lead to some business but the leads themselves are less in number than we would like. HIPS are still not being helpful – the searches are out of date but the time a sale is agreed so buyer’s solicitors have to re do them at an additional cost. There are a few more FTB’s around and the mortgage market doesn’t seem to be as difficult as it was. We are hopeful that now the summer holiday’s are almost over and with the media starting to talk about the credit crunch and housing market as item 2 or 3 rather than 1 on the running list of stories that the buying public may start to regain a bit of confidence.

MARKET UPDATE JUNE 2008

Properties continue to come onto the market at the usual rate. HIP’s still aren’t being looked at and solicitors acting for buyers often have to update or get new searches as personal searches can’t be utilized or they are out of date. Chain free buyers are like gold dust. Some sales being agreed when you work really hard to put a whole deal together in a chain, buyers and bargaining hard. Vendors are starting to drop their asking prices which has encouraged more interest. We are extraordinarily busy with enquiries and take ons.

MARKET UPDATE MAY 2008

MAY 2008
Herefordshire has been up and down this month, we had one of our best week’s EVER for sales but mostly buyers are still cautious, asking prices are more realistic, viewings are lower and owners mostly being fairly realistic as long as they can buy at a lower price also. We had our first ever HIP enquiry the other day; this was for a property for tender though, so it made sense. Owners are angry at having to pay for the HIP and those who are getting their solicitors’ to provide it are the ones that are taking longest, the HIP providers we have used are all working well.

The 2009 Property Market is getting active again

The 2009 Property Market is getting active again, with the return of first time buyers and investors, rejuvenating some sales of one and two bedroom properties, kick-starting some chains. Mortgages seem easier to obtain, confidence is returning, although prices in Hereford have fallen approximately 15% since Summer 2007.

Best Estate and Letting Agents in the UK are announced

BEST ESTATE AND LETTING AGENTS IN THE UK ANNOUNCED

I am delighted that Cobb Property have again been shortlisted as one of the best estate and letting agents in the West Midlands Region at the Estate & Letting Agent Awards

The results of the competition are determined by research carried out amongst customers who are asked a series of questions about the service they have received from their agent. Over 30,000 questionnaires were sent out to customers during the competition.