Nov 29

Crime levels and property demand affect house prices

High levels of crime in the area, can seriously de-value property value in the UK

The demand for property and house prices can be drastically affected by crime levels

House prices can be seriously affected by many factors. These factors contribute to the average house prices in the area. The home owner cannot control all of the factors, surrounding the quick sale of property have no control on a buyers ultimate choice and decision to buy. Buyers are however, swayed by the area the property is encased in. Nobody would purposefully choose a crime ridden area to settle into. The crime figures were not available for a specific area, until recently you are able to log on to the internet using certain specific sites, and logging on to local police force’s crime statistics.

Perspective house buyers can now view statistics relating to crime easily. This assists them and serves as a guide to whether or not to purchase property. These crime figures are used to determine ‘bad areas’ where crime is high. This has a detrimental affect on property prices in these crime ridden areas.

Crime and average house prices, is there a connection? Experts give their verdict.

There is already intrinsic studies stating that the levels of crime can be closely linked to average house prices in the UK. Professional surveyors associations are concerned, that the release of these crime figures, may scare off potential buyers and have an alarming effect on housing values and the market as a whole. It could lead to the drawing up of league tables, with figures that illustrate and highlight property, and provide an overall picture of the area. this will affect local house sale prices and property values.

The Home Office, claim that there isn’t a link between crime figures that have been published and house prices. A differing opinion to the R.T.C’s who suggest there is. The Home Office is very sensitive. They feel that statistics relating to anti-social behaviour, vehicle crime, burglary and street robbery in specific neighbourhoods, should be available and widespread to potential house buyers.

Whatever, the experts recommend about releasing or not releasing statistics to the general public. Areas with high levels of crime, can affect demands for private housing in crime-ridden areas. This will undoubtedly have an affect with the general lowering of property prices.

How can the effect of crime on house prices be changed around?

Sadly, little can be done to alter the effect that crime has on property value by homeowners. The Home Office suggests starting and setting up neighbourhood watch schemes. Involving people in your locality, noticing and being more aware of instances regarding crime and informing the authorities.

However, these schemes are hard to keep going, if all the residents aren’t happy to be involved. To buy a new home is one of the biggest investments in your life, for most people. With such uncertainty in today’s economic climate. Loss of jobs and earnings, buyers will choose a property very carefully, and within their budget. Local amenities are of high importance, including local crime rates, and school performances and local transport. With the availability of the internet and its search facilities, prospective buyers can research more thoroughly, and statistics and information is at their fingertips. Portals such as Zoopla can be used, and assist house buyers on their hunt for a future property. results can specify areas with lower-than – average house prices and problem areas, with crime rates or anti-social behaviour.

Homeowners that need to sell property quickly, must recognise that living in a high crime ridden area, lower priced house offers way below what they should be will be offered. Depending on how quickly the sale needs to happen, they maybe forced to accept the lower offer. The installation of security measures, may make life more difficult for criminals. This could make the difference and help find buyers more quickly. Despite these improvements to home security it may still have an affect on the final sold prices.

Are there links between the average property values and crime ?

it is very difficult to find any defining proof of a link between crime rates and property values. Neighbourhoods in deprived areas have lower than average house prices. A professional study in 2003, drew a correlation between graffiti and vandalism, which had an effect on property prices, but burglaries were unaffected. Crimes that are visible, such as vandalism and graffiti have a very negative affect on house prices. This conclusion, from the study, highlights and gives a obvious signpost to potential buyers.

Megan’s Law in the USA has impacted on local prices of property. At the moment, no such law exists in the UK. As part of the law, a register of convicted sex criminals are identified and where they live. Studies show, that houses next to these offenders, achieve a lower selling price, than those homes in similar towns and cities. If there was a subsequent scheme in the UK, the same results would probably be seen. Resulting in price and demand for property.

It is no consolation , for homeowners who live in areas of crime. There is no way of changing the decline in the property in the area and house price.

Nov 27

How to sell your Property

The process of selling your home successfully, using our six step by step method

The process of gaining a successful sale on your property, is time consuming and not without hiccups in the process. You may benefit from reading this short guide to selling a house. There are six main steps to guaranteeing or helping make possible a fast house sale. Selling a house is a very stressful process, and has an impact on the seller. A lot of pressure is involved, having to move and start again in a new property within an unknown locality. However, their existing property may need selling first, before a new move can be thought about. There are many delays, that might arise in the process.

If the selling process is not thought through properly, a sale may not be achievable, or there could be heavy financial losses as a consequence. Below we have listed 6 sensible steps towards a profitable and successful sale. Sometimes it is not as complicated a process as first thought, if approached realistically, and with a little insight.

Step 1. You must be prepare properly for the sale.

Marketing is a key word. This must be thoroughly adhered to, before the sale can take place even. This involves, a lot of planning. Repairs must be the first thing ticked off your check list. One of the selling points , is to make the home attractive to the prospective house buyer.

Removal of clutter, attention to the decor. High priority should be given to these matters. The prospective buyer, needs certain documents about the house. These should be readily available and at hand, when viewings take place. These include documents involving all electrical and gas certification for inspection and planning certificates, if any home improvements have been carried out on the property i.e. an extension or garage. A collection of recent household utility bills, gas and electric for example, could be at hand. The running costs for a home are an important part to be considered, when contemplating buying a new property. Helping would be buyers to have all detailed household information, is crucial to a sale and to influence their decision ‘to buy’ or ‘not to buy’ depending on their own affordability levels.

Step 2 A successful sale helped by valuing the Property

To sell a property efficiently, and make a good profit, it is essential to use qualified, experienced professional to value your property. if a professional is involved, there is a better chance, that the property will sell. If the asking price is set too high, potential buyers will be put off and viewing will be minimal. On the other hand, if the valuation is subsequently too low, this could devalue your property and influence the final selling price achieved. A decision to use an estate agent will generally mean a valuation will be given by them, as part of their service, and included in a package. Deciding to sell privately, online portals such as Zoopla and Rightmove can be researched to find out local house prices in the area. It is a wise move to fully research, other sites such as sold houses, prices can indicate market values.

A local estate agent, can be asked to give an opinion on an achievable price, without committing for full representation on your behalf.

Step3 Your decision and ultimate choice on property selling

As stated above, there are a few methods to use to sell your house. Using an estate agent, who has an extensive working knowledge of the housing market, will prove invaluable to marketing your property. Their expertise will achieve acceptable final sale prices, because of their knowledge of the local market. it is part of the estate agent’s role to initiate viewings, conveyancing and enter into negotiations, leaving the buyer a certain freedom, with little ties, to look for a new property of their choice. These services prove costly, and may curtail your profit on the final sale price. Although their professional help may achieve more quickly a sale. they are there to help you find rented accommodation is struggling to find another property, while your house is sold.

Privately sold property

Extensive time, is taken up by trying to sell your property privately. It is a complex process, and not without legal delays, and may result in a lower than average sale price. searching local house prices, is a time consuming process and requires a good deal of effort by the seller. Selling your home yourself, unless you have an expandable amount of time and have expert knowledge yourself, can be soul destroying, and without a lot of gain to the final sale price.

There are lots of ‘quick sale’ firms popping up, who may sell your house quickly, but give you little in return. Research into these companies is strongly advisable.

Step 4 Your home must have the ‘wow’ factor for prospective buyers

Viewings are an intrinsic part of selling your property. It is of the utmost importance, that your home has ‘kerb appeal’ this means that first impressions count. Potential buyers may not even get past the threshold of a house, to view the interior of the property, if the exterior let’s the house down. Exterior repairs should be attended to, gardens need to be tidy, and bushes and shrubs cut back, there should not be any rubbish in view. This first impression, should enable the seller power to drive up the final house price justifiably. The interior should be welcoming, with no strong dark colours, or clutter everywhere.

This ‘staging’ of your home, setting a scene , where potential buyers can image themselves living there, without having to spend further money on redecoration or repairs can produce results. Maybe provoking an on-the-spot offer for the house.

Step 5 Legal aspects associated with negotiating the sale of the property

A conveyancer or solicitor, is more than beneficial to selling your home. careful research is necessary for professional assistance available in your area, to find the right expertise for your sale. Most estate agents will be able to offer their help and knowledge. Successful legal expertise is crucial for completion of selling property and an essential of the process.

Step 6 Preparing for the next move to a new home

Moving and its process, can be sometimes more stressful than actually the selling process. A reputable and reasonably priced removal company, should be used. Assessing insurance cover, and packing up your belongings in advance, reduces the stress of the ordeal itself. You must leave your sold property in good order for the next buyer, so this should be planned well in advance as well. Leave nothing to chance or think ‘well it will be all right on the day’

If you cannot find your next dream property, before moving out, rented accommodation maybe an idea for the meantime, till property that catches your eye and provokes interest crops up.

Finding a new home, settling in, with everything financially and legally completed , gives for a great feeling of achievement. Planning and asking expert advice are the main steps to ensure that the sale goes through painstakingly ‘We Pay the Most’ is a fast house selling company. Giving free quotes for your property, with a specialist team of property buyers and investors.