|Real Estate Information|
How Much is that House in the Window?
With the recent release from the UK's biggest mortgage lender, the Halifax, of its latest house price report for May 2005, showing that prices fell by 0.6% last month, and prices falling just 0.1% since the start of the year, the bank said that the market is broadly flat. Nationwide however released its survey last week, showing a 0.3% rise in May. Commenting on the figures for March, Nationwide confirmed that the 0.6% fall in property values was the steepest monthly fall they had seen for nearly 10 years, however, just a few days after the Nationwide released its survey, the Halifax reported a 0.5% rise in March prices. Mortgage comparison site Moneynet reported a slight increase in March, primarily for the high income homeowners. The diversity of house price surveys dilutes consumer recognition of trustworthy media; were should you look for accurate and up to date information?
Land registry reports
All property sales from England and Wales are logged by the Land Registry, and so this report provides an extremely comprehensive source for residential property sales. The land registry reports can provide useful information for both for national and local comparisons. One drawback however is that the report is only compiled every three months, making the figures out of date even before they are released. For a small fee, a similar survey is available for properties within Scotland at the Registers of Scotland Executive Agency ( ros.gov.uk/index.html )
Government house price index
This is a recently launched government survey into the house price index, reported on a monthly basis. Using lending information from about 50 lenders, this includes a first-time buyers index, as well as former owner occupiers, regional, and UK indices. Unfortunately, like the Land Registry reports, there is at least a two month arrears in the statistics being released. While the government is trying to improve this survey, it is hampered by limits on the information provided by the lenders, and has been described to the BBC by a government spokesperson as "The slightly less than definitive index". The implementation of the National Property Database, which is currently under development, should help to provide better information about property types, and expansion on the information available for geographic areas such as commuter belts.
Mortgage lending companies such as the Nationwide ( nationwide.co.uk/default.htm ) or Halifax ( halifax.co.uk/home/index.shtml ) provide regular surveys covering the entire UK rather than just England and Wales. These are usually available monthly, and are based on the final price agreed by their mortgage customers, thereby ignoring other lenders figures, and the 25% of cash transaction house sales. Useful in giving snapshots of the property market, although frequently different lenders figures contradict each others trends.
Price comparison sites
Comparison websites, such as Moneynet ( moneynet.co.uk/mortgage-research/index.shtml ), provide an impartial analysis of mortgage deals, alongside an analysis of what people are buying and borrowing in terms of property. The information provided by these sites can become slightly distorted by speculative enquiries where purchases are never intended to be completed, and no track record is kept on actual house purchase amounts.
Royal Institution of Chartered Surveyors ( rics.org/default )
A survey from the Royal Institution of Chartered Surveyors, based on responses from a small number of the institute's members in England and Wales, shows the surveyors' confidence in house market prices (rising or falling), rather than what is actually happening.
Rightmove ( rightmove.co.uk/ ) use data collected from about 35% of the homes for sale on their website to compile the sample for their survey. As over half of all the UK's estate agent chains list their available properties on the Rightmove site, the sample size is sufficient to provide extensive representative information.
Overall the different measures can all provide potentially useful information for consumers, but there is currently no definitively accurate guide to the UK house price market. Different studies cover different areas of the housing market, and often provide contradictory results. Predicted future trends are always subject to possible inaccuracy, and therefore should not be relied upon for complete accuracy. Buyer and seller beware.
About Rachel and the mysterious Cashzilla
Cashzilla is a personalfinanosaurus, a special breed of dinosaur with a head and heart for finance. Cashzilla is an Aries. He has a flamboyant character and a tongue that could heat up any conversation. If Cashzilla was an A-Team character, he'd be Murdock.
Home Equity Loans - Beware of Appraisal Fraud
A new report by the independent Demos group has revealed what may not be a surprise to many people - corruption is rampant in the home appraisal industry. The bust in the dot-com market of some five years ago has left would-be lenders with a surplus of cash to lend.
Late Mortgage Payments Sabotage PMI Cancellation
There's something you should know about PMI!Private mortgage insurance is commonly referred to as PMI. If a buyer makes a down payment of less than 20% of a home's value the lender will insist that a premium for PMI be added to every monthly payment.
Selling Your Home Yourself - Pricing It Appropriately
When you're selling your own property, whether it's a house, townhouse, condo, apartment, a finished lot, raw land, a farm, a ranch, or whatever, the first thing to get right is the price you ask for it. If you work with a broker, the legwork is done for you.
Good Faith Deposit - Real Estate Transactions
In a real estate transaction, a touchy issue is how much trust the seller has in a buyer. The existence of a good faith deposit helps put a seller at rest.
Home Selling: Making It Easy On Yourself!
It's a dream for many to buy and take ownership of a home. It's something one aspires for in their lifetime.
How to Get the Best Price for Your House
The best price to sell your home is always determined by how you compare against your competition, the house down the street. If your property looks better than the next guy's the customer will buy yours.
Crossing the Gap from this Home to the Next: Bridge Loan
So you're thinking of getting into a bigger house. You call up the real estate agent and make an appointment to go see what the market has to offer.
When is the Best Time to Move?
As Realtors, we are often asked, "When is the best season to move?" This is a tough question, one we cannot answer for you. Most people are asking about price, do they fluctuate throughout the year? NO.
The Many Benefits Of Lease Purchasing
Lease Purchasing affords wonderful benefits and opportunities to sellers, buyers, investors and those who would like to operate a home-based business. Lease Purchasing allows you to control property without ownership which has benefits for all.
Choosing a Realtor
Purchasing a property, either as an investor or as a prospective homeowner can be one of the most exhilarating and frightening experiences of your life. In both situations it is imperative that you find just the right property at the right price.
Prepare Your Rental Property for Occupancy
Among your many responsibilities as a landlord, the law provides for a warranty of implied habitability. This means that the dwelling must be considered habitable and any known problems must be fixed before you allow a tenant to take occupancy.
Kings Bay Georgia Real Estate - An Amusing Tale About a Real Estate Agent
This story is true and not meant to hurt anyone, but the more that I think about what happened, the more it makes me laugh. I hope that you not only get a chuckle from it as I did, but take your time and look for a professional real estate agent.
A Log Home Story
Solving problems while maximizing valuesThis story has a few good lessons and observations that no doubt can be used by you to take advantage of hidden opportunities that often lie in plain view for all to see, however, most people have not been trained or instructed on how to recognize or find them.The following true story begins with a classic log home package, engineered, manufactured, approved and delivered for use in Alaska.
Look Past the Bottom Line for a Propertys Potential
It's unfortunate that many real estate investors tend to look at the bottom line when deliberating about a property, rather than the big picture. The real moneymakers in real estate investments are the people with vision, who think creatively, and are willing to assume some level of risk.
Home Appraisal Values Are Critical
To most, owning a home is a necessity, but sometimes it is a matter of pride or a business investment. Home appraisal values become relevant if one wishes to sell his house.
Fixing Houses: Mixing Your Own Paint for Savings and Harmony
To make the maximum profit on your investment properties, you'll need to save money wherever you can. One way to save significant amounts of money is to mix your own paint.
10 Easy but Essential Steps for Home Selling Success
They say that the whole process of selling up, buying new and moving on is one of the most stressful series of events any of us goes through in a lifetime: and yet with careful planning, attention to detail and a clear focus, the whole process can be relatively stress free.While there will always be factors outside the control of any home seller, those factors that fall within their control sphere can proceed fluidly and smoothly when they take the time to plan and think one step ahead.
How To Negotiate A Higher Price For Your House
Negotiation is where many FSBO home sellers really have problems. The wrong attitude or a slip of the tongue could cost you thousands.
Homes in Chapel Hill
Chapel Hill is located right in the middle of North Carolina, halfway between the Blue Ridge Mountains and the Atlantic Ocean. In 2000, the nearly 20 square mile city had a population of 48,715 people and it has substantially increased over the last five years.
Questions To Ask The Landlord Before Renting His Apartment
Apartment hunting is not the easiest thing around. You may find places not suited to your tastes or those which do are not to your budget.
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