Category: News

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Valuation

Valuation is possibly the most contentious aspect of estate agency, and emotions run high when discussing most people’s most valuable asset. It is natural that the vendor of a property will want as much as possible for it, as does the agent.
However, vendors should be careful about opinions over value, especially when everyone seems to have one – friends, relatives, taxi drivers and blokes in pubs!

The actual value of a property is of course the maximum figure that at least one able buyer would be prepared to pay. Frankly, the only person to know what this figure could be is an estate agent who is comprehensively familiar with the current market and involved with qualified buyers daily. It may be that potential imminent movement in the market can also be anticipated, although this is a skill few possess.

Certainly on-line value calculators are misleading and plain wrong in many cases as they simply cannot take account of the foibles of local buyer activity and competing properties available for sale, both of which change from week to week.

When choosing the right estate agent for you it’s certainly worth finding out how accurate their valuations are. A good agent should be able to tell you what percentage of their original asking price they actually achieve on average for their clients, as well as how long they took to find a buyer against national averages.

Needless to say, we’d be happy to provide you with some expert advice on the likely sale value of your home. This would be based on extensive research coupled with an intuition that comes from deep local experience as evidenced by our consistently proven results. Please feel free to contact us today. You might be pleasantly surprised!

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Good Advice

Straight-talking sincere advice can be invaluable in a world where too many people would just tell you what you want to hear! For example, the oldest trick in the book is for an agent to suggest an inflated suggested asking price in order to impress you enough to secure your business, only for tears to follow down the line when the property has gone stale on the market and the price has to be dramatically reduced in order to secure a sale.

So good advice is key. A good estate agent recognises their responsibility not only to address any questions posed by the vendor, but sometimes, where appropriate, to go beyond the obvious. This is because there is often more than meets the eye to an otherwise straightforward market appraisal.

For example, a vendor might want a quick sale in order to relieve a financial problem. Yet it may be that the property could be let out readily and would immediately start to produce the income needed to solve the problem without the need for a sale.

Most people of course are keen to maximise their sale price and this is also your agent’s objective. So let your agent advise you as there may be value in unexpected areas. Perhaps re-configuring the way in which your rooms are used in order to better fit with current lifestyles could increase the value of your property – if anyone knows what’s hot and what’s not it’s your local estate agent!

So if you’d like some impartial advice, delivered with your best interests at heart, and with no obligation whatsoever, please feel free to contact us today.

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Knocking through

Many people buy a property that is generally well suited to their needs, but could be improved with the removal of one or more internal walls.
The removal of an internal wall can not only open up additional space by combining two otherwise small rooms, but it can also let in more light, give access to better views, allow larger furniture, and provide more flexible living accommodation.
But can you just knock a wall through with a big hammer? Well yes and no. Probably no! Certainly some non-load-bearing stud partition walls can indeed usually be removed quickly and painlessly, although dust is always an issue – so cover everything!
However, in most situations, the advice of a structural engineer should be sought and is not generally expensive. The engineer will calculate whether the wall is load-bearing, and if so, what size of RSJ (reinforced steel joist) will be required to support the upper walls. RSJs usually leave a protrusion below the ceiling and it is often worth paying the moderate extra cost (but with more inconvenience upstairs) of having the RSJ embedded in the ceiling. It’s also worth finding out if the RSJ can be set into the wall or if it needs one or two piers to support it. Also will it fit through the door or window during construction?
Always check out the height of the ceiling in each room before knocking through to make sure they will be level once the wall comes down. And don’t forget to order the skip – a bigger one than you might expect!

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Don’t wait for Spring

As we find ourselves in the middle of the dark winter months and further restrictions, some would suggest waiting until spring before putting your property on the market. After all, spring is traditionally associated with a time of change and this has always influenced the property market in the past.

However, it might be worth looking at this from another angle as serious buyers do not give up over the winter and can even become frustrated by lack of choice as many properties are withdrawn for the season in the mistaken belief that nobody will be looking at this time of year.

You can take advantage of this temporary imbalance of supply and demand by being one of the properties that is actually new on the market! Whilst viewing activity may be slightly less frenetic, you can be assured that every viewing will count, as you will only be dealing with serious buyers. And serious buyers are usually less concerned by a sad-looking garden, or poor daylight. Indeed, cosy lighting and a real fire will often enhance your chances of a successful winter sale.

Many sellers will inevitably wait until the spring and post lockdown before putting their property on the market – which could flood the market and potentially thwart prices. However, even in the current position viewings are allowed -confused and frustrated buyers are looking today.  

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Time for you

Selling your property is easy. Just advertise it online and wait for the buyers to flock to your door!! If only!

Sadly, too many estate agents rely on this approach, which inevitably results in disappointment. Indeed, in some respects, finding the buyer is actually the easy bit. But, when you think about it, there is far more to moving than simply finding a buyer.

At the refreshingly different Property Bureau , we believe in helping you move, and this means going far beyond the service offered by most estate agents. It all starts with the amount of time, commitment and personal accountability that we invest in our valued clients.

We won’t simply rush in, measure up, stick pictures of your property in our window/property portals and hope for the best. We will take the time and trouble to understand all relevant aspects of your situation and then we will work with you to achieve your personal objectives. This may well be the highest price possible, the fastest sale, the most discreet sale, the “right” person for your treasured home, or you may simply want to dip your toe in the water and test the market. 

Whatever your motivation to market your property, we understand, we’re highly flexible, and we’re on your side. 

Additionally, as we are independent of any corporate influence, we are not here to sell you any associated products, although mortgages and conveyancing services are of course available if you need them, and we’re prepared to invest as much time as you require from us. We’ll even give you our mobile number and the reassurance  that if ever you need to talk – we’ll be there. Contact us

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New Year Sale

As we find ourselves in the middle of the dark winter months, some would suggest waiting until spring before putting your property on the market. After all, spring is traditionally associated with a time of change and this has always influenced the property market in the past.

However, this year in particular it might be worth looking at this from another angle as serious buyers do not give up over the winter and can even become frustrated by lack of choice as many properties are withdrawn for the season in the mistaken belief that nobody will be looking at this time of year. We are experiencing intense activity in view of the LBTT (Land and Buildings Transaction Tax) concession worth up to £2,100 coming to an end in March 2021.

You can take advantage of this temporary imbalance of supply and demand by being one of the properties that is actually new on the market! Whilst viewing activity may be slightly less frenetic, you can be assured that every viewing will count, as you will only be dealing with serious buyers. And serious buyers are usually less concerned by a sad-looking garden, or poor daylight. Indeed, cosy lighting and a real fire will often enhance your chances of a successful winter sale.

Many sellers will inevitably wait until the spring before putting their property on the market – which could flood the market and potentially thwart prices. Yet serious buyers are always keen to see what’s new.   

So if you are considering a sale in the coming months we suggest you take advantage of the situation, be strategic, and position your property for an early sale at a time when demand is likely to outstrip supply – which is about now. Then you’ll be in a great position yourself as a buyer! Win-win?     Contact us for any help or information!

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November Property Checklist

Household emergencies generally occur during the depths of winter, but we recommend that homeowners undertake a pre-winter checklist now to prevent unforeseen property headaches in the months to come, especially remembering last year’s weather! Here are some pointers:

  • Don’t wait until the really cold weather arrives to discover that the central heating is not working. Time your central heating to click on for one minute a day throughout the year to avoid it seizing.

 

  • A sudden cold snap can burst water pipes, causing flooding. Make sure you know the location of the stop-cock. Ensure your pipes and tank are properly lagged but do not insulate underneath your tank. If you are going away, leave the heating on low and leave your loft hatch open.

 

  • Storms can bring down branches causing damage to roofs, so it’s worth doing some pruning now rather than having to call out the tree-surgeon, roofer and insurance assessor in an emergency.

 

  • Check your gutters are clear, as the weight of waterlogged and frozen leaves can cause them to leak or collapse.

 

  • Assess your roof for loose tiles that can easily become dislodged during high winds, causing damage to property, cars and possibly injury to people.

 

  • Avoid getting smoked out as you light the first fire of winter by checking that birds have not made a nest in the chimney.

 

  • Outside lighting not only enhances safety but also deters burglars, who are more active during the winter.

 

  • Ensure your garden furniture, barbeque, toys, etc are securely stored as they can be stolen if left outside, and damaged or prove hazardous in bad weather.

 

All the above can usually be done over a weekend, which is time well spent if the stress and expense of a winter emergency are to be avoided.

 

enquiries@propertybureau.co.uk

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Location Location

Location is clearly the most fundamental aspect of property. But what is it about location that attracts? This is a complex question that means different things to different people, and is usually driven by the motivation for the move. Many agents overlook the driving forces behind a decision to move, yet it holds the key to why people buy, and where.  

For example, many people move because they need more space, perhaps because of a growing family and the requirement for more bedrooms and a larger garden. Clearly space comes at a premium, and it may be that in order to satisfy this requirement a cheaper location may have to be considered if the finances are to balance. Then of course there is the issue of school catchment areas, which in itself can have the effect of significantly price-loading an area.

Perhaps the move is prompted by a job promotion which has enabled the buyer to fulfil the aspiration of living in a “better” area. But what does better mean? Leafier, attractive architecture, great views, low crime, good restaurants? The good agent finds out. 

Naturally, convenience has a major bearing on choice of location. Proximity to shops or work, transport links, recreational facilities and security all play their part. Good value for one buyer might represent poor value for another, hence the reason that some people are prepared to pay substantially to be close to work, whilst others are prepared to commute for several hours.

It is this complex and fascinating combination of locational needs and desires which makes our job as estate agents so interesting. The accuracy of our interpretation of buyer preferences is key not only to our valuations, but also to our ability to help people move to a home that will delight them. 

Whether you’re buying or selling, we’d love to help you move too so please feel free to contact us anytime at your convenience.

enquiries@propertybureau.co.uk

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Covid-19 Statement

During the covid-19 virus crisis we are operating mainly from home but are continuing our services to landlords, inclding, dealing with urgent property management issues and rent collection.

On the estate agency side we can offer advice over the phone and discuss values and marketing proposals to get a head start on the market when lock down restrictions are eased.

Please do not hesitate to contact our offices on the usual phone numbers or enquiries@propertybureau.co.uk

Please see below some useful links for help for landlords and tenants.

https://www.gov.scot/publications/coronavirus-covid-19-landlord-and-letting-agent-faqs/

https://scottishlandlords.com/news-and-campaigns/news/covid-19-current-information/

https://www.mygov.scot/private-rental-rights/