An announcement just released from a specialist House buying Firm hints at a significant upturn in the Residential Property market is under way. The Sell House Fast Company focus on buying Residential Property at less than market price from vendors who are looking for a Quick House Sale and can afford to give up a portion of the price of their Property in order to achieve the Quick House Sale. The Firm then goes on to purchase the Property in a timescale to suit the seller, they can do this because they are cash buyers, don’t count on on banks and don’t have to to sell off a Property in advance.
A spokesman for the Firm has said that there has in the last weeks been a sizeable leap in the number of Property receiving offers. Normally the Firm will consider buying 30 to 40 Properties per week and whilst this number is holding up, the Firm reports that a significant number of such Houses are now being bought by private buyers. “Whilst this might seem to be to our detriment as a firm, we are missing out on some deals we would normally complete successfully, we nevertheless welcome the trend. it’s in everybody’s interest that the market stabilises and unsold Homes begin to sell quickly. We all benefit from a normally operating Property market and this especially applies to 1st time buyers who can confidently get onto the Property ladder knowing that we are unlikely to be in for any further Property price tumbles.”
The forecast for owners who are looking to sell property fast seems to be more optimistic than for many months. The key for all owners looking to “Sell my Property fast” will be realistic pricing, and this implies an acceptance of recent price falls. The price of most Homes is now around 20% less than it was at the height of the market in the middle of 2007. Any owner who continues to cling to the hope that his Property is worth close to the prices of 2 years ago is doomed to a long and drawn outmarketing period, it seems unlikely that prices will come back to previous levels for at least five years.
Vendors who acknowledge the market realities, and price at 20% below top of the market can now expect a fairly Quick Home Sale. What’s more it now seems unlikely that owners will have to discount below that to get an open market sale. Finally, the perception of the market bottoming out is encouraging the Property buying firms to improve the percentage they are ready to offer. As the Sell House Fast Company spokesman said “ We must be competitive with our offers. If prices steady or begin to go up we will need to up our game and make higher offers if we are to complete purchases.”