Using this one simple application I was essentially able to view over 300,000 property listings which had been accumulated by international estate agents, property developers and property owners from all over the world – 70 countries to be exact!

And this is an incredible tool if you are interested in investing in property abroad as you can use this app to browse property details without ever leaving the country!

How does it work?

Alongside giving you basic information about the property – location, price, room size etc – property investors will also be able to view property slide shows of each of their properties, to enable them to gain a firm grasp of how it works.

And I have to say that I have quite enjoyed using it so far. The only downside that I have been able to pinpoint is its limited accessibility…

Take this scenario for instance: not everyone owns an iPhone, iPad or iPod Touch, so unless you have got one of these you cannot access this application, which I think is a real shame.

Whilst these apps are pretty useful, too many property investors are losing out because they simply haven’t got the latest phone.

I genuinely look forward to the day where everyone can access these applications, as until then they are not reaching their full potential.

Wendy xx

In his story, he revealed that after securing 90% LTV loans from his bank in 2007, he decided to invest in 2 off-plan properties (1 worth £415,000, the other worth £375,000). However, after Berkeley’s property prices fell by 40% in 2008, banks would no longer loan him this sum offering him a maximum 75% LTV. Faced with either having to fulfil the shortfall himself or abandon his deposit, Dowd tried to default on his deposit only to be confronted with court action from the property developers.

It is a sad reality when a man has to pay over £100,000 in damages, because the economy has turned against him.

But the thing is he is not alone… A further 300 legal claims – in London alone – have been taken against homeowners wishing to default on their off-plan properties.

Who is in the right?

Now on the one hand I can understand that as homeowners have signed a contract on these properties they are legally obligated to complete the deal. BUT when statistics state that property prices in London have fallen by only 14%, not 40% like on these property developments it really begs the question of: what has happened?

The truth is, back in 2007 property developers were seriously overestimating the value of their properties – by a lot. As a result they are now experiencing greater property price drops of an extra 26%.

And it is this 26% that is really biting homeowners such as Dowd…

I imagine, many homeowners may have easily been able to work around property price drops of 14%, but 40% is ridiculous! Who has got an extra £100,000+ spare to cover such a shortfall? Not many and that is my point… It is not completely homeowners fault. Property developers have got equal responsibility for creating this situation after valuing their properties too high in the first place.

It is undeniable that some sort of comprise has got to be met before this situation escalates any further. In London alone, Berkeley signed over 3,300 contracts in 2007 with homeowners, 85% of which were off-plan.

Fortunately many homeowners are forming collectives to help find alternative routes for resolving this issue, and so far they have come up with 13 options. However, with many having signed contracts on these prospective properties, it is going to be a long road ahead before this situation is completely resolved.

Wendy xx

You see according to some of the UK’s leading Estate agents, over 1 in 10 properties across the UK are selling for more than their asking price.

In their quest to secure the best properties, homeowners are now willingly paying more than the properties original asking price so they can own properties in London, Oxford and Cornwall. And the reason for this sudden uptake? The fact that we are in the midst of one of the biggest housing shortages witnessed for the last 30 years.

In a report by the Royal Institution of Chartered Surveyors, they reported a 16% drop in the number of unsold properties. And this figure is closely matched by the fact that there are only 58.4 properties per estate agent across the UK. Now when you look at this statistic like this, that is not a lot.

It is really incredible to think how much of an impact a simple housing shortage – combined with tempting discounted properties – can have on property prices. In many ways it is ironic – the competition for these properties.

Think back only 6 months ago and many homeowners would have refused to pay above price. Then on the other hand this story also casts an interesting slant on an issue that many of us have not comprehended. I.E. The possibility that as more and more homeowners return to the property market that house prices will begin to rise again.

Wendy xx

This is a new segment I will be hosting where my original property investment tutors, Property Mentor, recommend a property of the week to me, for you guys.

Usually you would only get this information from their mailing list but I have been given rights to give it to you for free. Bascially we will look at a property available on the market and see how you could make money from this and similar buildings.

Anyway here is the first entry!

———-

Area - East London

Property Type – Semi Detached

Number of Bedrooms - 4

Been on the Market – 8 Months

Valuation – £289,950

Monthly Positive Cash Flow – £323/Month

What would you say if we could prove to you that in a few short months the lending market is going to turn? That banks will soon be begging you to invest – would you think we were crazy? Well, it’s true! All of it.

You see, whilst it may appear as though lending options have virtually disappeared in the last 6 months, everything is going to change very, very soon. In 2 months in fact.

Confused? Wondering what the hell we are on about? Let us explain.

Every Bank, big or small, has got sales targets; targets which they need to fulfil. So although it may look as though they are sitting back quietly. Content to offer no new deals. All they are really doing is waiting.

Waiting for the New Year, when they will have been set new targets, new goals and new incentives. And let’s just say, you will soon be seeing a completely different side to their strategy.

They’ll be throwing so many deals at you – left, right and centre – you won’t know where to look. You will be in an investors heaven!

Impressed?

Well, what if we were to tell you that there is more to this story? Yes we know, MORE.

That NOW is the time to act on this information. Not next week. Not in 2 months when these deals are coming through. But NOW, NOW, NOW. Would you be tempted to find out why?

It’s simple.

Research… stacking… approaching a broker… they will all take a little time, especially if you’re looking for the perfect property to match these incredible deals.

But if you begin now. Yes this very second, you could soon have a selection of properties ready and waiting to harness these deals, and have exclusive first dibs!

And it will definitely be worth it.

Look in the press. Go on take a closer look. As we speak, the media is filled with stories of 50% rises in rental demand; 1.5% interest rate cuts and 15% falls in property prices… incredible figures that will make all your future investments highly profitable; easily accessible and available at a HUGE discount price.

They are just too good to miss, especially when you add these new deals to the mix.