Featuring the likes of Zoopla, PropertyLive, Ezylet, SmartNewHomes, Vebra, Property Pal, Spicer Haart, Countrywide and Zoomf, property investors and home owners alike can now search for properties for sale or for rent all in one place. And so far I really like it…

Simply enter the location you want to browse through and click on ‘Properties’ from the More menu, and the map will instantly become filled with markers/small circles indicating properties of interest.

But this is not all…

Select a property, and alongside viewing detailed imagery of the property, you will also be able to access property details as well as a link to the property website where it is being advertised.

Yet what I also really like about this tool is the search options. You can refine your search by selecting property price, property type, number of bedrooms and even bathrooms, which is really useful if you are looking for a particular type of property investment.

It is undeniable that the next few months are going to be interesting, especially in terms of how many other property websites/estate agents jump on board with this idea. I can see the outcome being really positive, but I suppose that really depends on how well it is received by property owners.

Wendy xx

In this article, property website reallymoving.com noticed a significant difference of up to 174 cubic feet between property owners in the North and the South of the UK, and it got me thinking that perhaps the amount of valuables we own actually affects the types of properties we invest in.

For instance, Londoners are reputed to own 737 cubic feet of possessions, whilst property owners in the North East generally own as much as 911 cubic feet.

Now this may look like nothing, but when you factor in to the equation the fact that 1) Londoners tend to move a lot (due to their jobs) and 2) they can only afford smaller property spaces the closer they move into the city centre, then it is no wonder than Londoners own so little. Property prices and where you live can affect how much you own!

Is this true of the whole UK?

After reading this, I began digging round looking into other regions across the UK to see if the results were similar, and to be truthful they were pretty spot on.

Taking into consideration that 1 large sofa equates to 45 cubic feet, a bed 40 cubic feet and a TV just 3 cubic feet, the results speaks for themselves:

• East of England – 911 cubic feet
• Midlands – 891 cubic feet
• South England – 877 cubic feet
• Wales – 868 cubic feet
• South West England – 856 cubic feet
• North West England – 844 cubic feet
• North East England – 828 cubic feet
• Northern Ireland – 783 cubic feet
• Scotland – 788 cubic feet
• London – 737 cubic feet

As a rule, the more expensive the location (apart from Scotland and Northern Ireland), the fewer possessions these property owners tended to own!

But what really fascinated me was how this knowledge could easily be used to influence which property investments you invest in. For example have the info to recognise that property owners in the Midlands own more possessions than those in Scotland and you can invest proportionately towards your tenants needs and ensure a greater tenancy demand.

It is definitely a crazy idea but definitely worth bearing in mind, the next time you invest.

Wendy xx

You may remember the other week that I discussed Economists predictions which suggested that because of static property prices, the buy to let investment sector will grow in popularity.

However, I have also been hearing rumours which suggest that property prices are about to go into a double dip.

Now I don’t know about you, but these mixed reports are driving me crazy. For example should I keep investing in property under the pretext that property prices are not going to fall any further? Or should I believe these double dip rumours and wait for these property price falls to hit?

If you haven’t heard either of these stories I’ll quickly sum them up for you:

-          In the Bank of England’s Financial Stability Report they revealed that property prices are at risk of going into a double dip should banks choose to sell off £200bn worth of distressed properties. Not only will these sales reduce banks ability to give loans, but this sudden increase in properties for sale could disrupt the supply/demand balance.

What’s worse, should they do that, banks may be forced to sell off further properties, causing further price falls.

Now as a property investor, increased properties for sale (which are discounted) is great news as this means more opportunities to invest at a more affordable price. However the indecisiveness of these rumours is completely and utterly frustrating.

What is right? What is simple speculation? When is the right time to move and harness these property opportunities…?

The answer is: who knows? I for one have got no idea, but one thing I am certain of is that I will be paying closer attention to what is happening in the property market over the next couple of months.

Wendy xx

I was reading an article on HomeMove the other day, and essentially Rightmove have predicted that due to property prices becoming static over the last 2 months (dropping by 2.2%), properties put up for sale will almost halve in amount during 2010 compared to those put up for sale in 2007.

In fact, they believe because of the upcoming General Election – and the impact it will have on the economy and taxes – there will be less forbearance shown by lenders on those who have gone into arrears. Meaning there will be more forced sales and even more opportunities for property investors to invest.

Now you’re probably wondering how any of the information I have just revealed can help to make 2010 the year that professional landlords come into their own, but here are some other interesting facts that Rightmove let slip which might change your mind:

• These forced sales will be concentrated in lower income areas where demand from first time buyers has dissipated – due to their locations these properties will be priced at affordable, investable levels which will make their rental yields more attractive to property investors like you and me.
• Number of properties advertised for rent has fallen 15% in the last 6 months – now before you get worried, this drop in property advertisements has actually put existing landlords in an increasingly privileged position as new landlords have been frozen out. Why? Because they have not got the strategies or the contacts to access the limited number of buy-to-let mortgages.
• Properties bought by accidental landlords during 2009 have now been purchased – giving professional landlords a clear run with limited rental competition

It is true that 2009 was definitely the ‘Year of the Deal’ where if you had the right investments strategies you could easily invest and take advantage of 20%-30% discounts off property prices.

However, if we are to take seriously what Rightmove are suggesting then this drop in properties for sale combined with the reduction of property landlords means if you have got the know-how, the cash and the property portfolio, you can really wipe the floor in terms of profitability.

If you are interested, here is the article I found: http://www.homemove.co.uk/news/15-12-2009/year-of-the-professional-landlord-approaches.html

It is a catch-22: impressive 100% buy-to-let mortgages on properties valued £250,000 and above or restricted mortgage deals on properties that are discounted at 30%.

If I am honest I don’t know which market condition I most prefer. In an ideal world you would be able to get both: a strong buy-to-let mortgage on a property that has been thoroughly discounted.

However, despite these limitations, I have begun to notice a significant improvement in the direction these mortgage deals are moving in.

I was researching the other day on moneysupermarket.com and spotted some tempting buy-to-let deals that are seriously worth taking a look at:

Mortgage Works: offering an initial rate of 3.74% until 2011 (on a maximum LTV deal of 60%), after this date you can expect to pay a subsequent rate of 4.69%. And this is not bad considering that their arrangement fee is only 3.5% of the properties borrowing price.

BM Solutions: offering an initial rate of 4.1% for the next 2 years (on a maximum LTV deal of 60%), after this date you can expect to pay a subsequent rate of 3.99% as well as a minimum arrangement fee of 3%

*NOTE: to qualify for this deal your property must produce a rental income that covers 125% of the properties mortgage payments

Cheltenham & Gloucester: offering an initial rate of 4.69% until January 2013 (on a maximum LTV deal of 60%), after this date you can expect to pay a subsequent rate of only 2.5% (with a minimum arrangement fee of 2.5% of the properties borrowing price)

NatWest: offering an initial rate of 4.99% until December 2011 (on a maximum LTV deal of 75%), after this date you can expect to pay a subsequent rate of 4.5%.

However it is important to note that this is a variable rate and is subject to change, so you might not always be paying 4.5% month on month. The other down side is you can expect to pay £1,999 in arrangement fees

Lloyd’s TSB: offering an initial rate of 5.39% until January 2013 (on a maximum LTV deal of 60%), after this date you can expect to pay a subsequent rate of 2.5% with a minimum arrangement fee of 2.5%.

These are only a handful of the top buy-to-let deals currently available on the property market; however their interest rates in particular do suggest that the lending market is improving.

The only thing left to change is their LTV’s. Lower these bad boys from 60%-75% and these product offerings would be even more tempting.

Wendy xx

Ummm probably… but before you discount me as being heartless or ‘callous’ in this judgement let me explain…

You see it is a little known fact that repossessed properties sell for at least 5-10% below market values, meaning you can easily invest in these properties for more than 25% below their original 2007 asking prices, if not more which is fantastic news since property prices have begun rising again…

Now for anyone who doesn’t have a clue what I am going on about, I am discussing Credit Action’s recent report which declared that a new property is repossessed every 11 minutes. That is 131 properties every single day!

Yet this is not the worst of it…

According to Credit Action, the average household has now got a debt of at least £9,161 to their name –excluding their mortgage! Throw that into the mix and household debt rises to an astounding £58,340.

At £58,340, it is no wonder that every 3.97 minutes someone is declared bankrupt or insolvent – the finance market is in a very bad way.

Yet despite all this, it is impossible to ignore the fact that these repossessed properties represent an incredible opportunity to get the property market back on its feet.

With the demand for property growing at an escalating rate and the housing shortage becoming ever more dominant, these properties can easily supplement this demand by being transformed into multiple rental accommodations.

Maybe I am wrong about this. Maybe investing in these properties won’t make a difference. But you have got to admit that at an additional 5-10% off their asking prices it just too good a discount to miss.

Wendy xx

Dubbed ‘The Property Authorised Investment Fund’ this scheme is expected to split ‘…between 80% on brick and mortar and 20% on listed securities once the Financial Services Authority and HM Revenue and Customs have given it the go ahead.

Now I am no expert in commercial property – although over the years I have dabbled in it a bit – but I am quite impressed by this move by Clavis Walden.

As they themselves describe it, it is the most tax efficient structure available for investors looking for a credible income, and the fact that they will have the backing of the FSA and HM Revenue and Customs, makes it is impossible to doubt the sincerity of their project. Not when commercial property is slowly making a comeback.

Remember that I posted about commercial property dropping to below 50% their 2007 peak property prices a while back? Well nothing has really changed there aside from the fact that these prices falls are beginning to stabilise. And if that is happening, what you are looking at now is a potentially invaluable asset that has got the likes of Clavis Warden wanting to back it up.

Anyways I couldn’t resist commenting on this story as it is about time something positive was written about the property market.

Come take a look: http://www.bridgingandcommercial.co.uk/newsstory?id=19349878&type=newsfeed&title=clavis_walden_to_set_up_new_property_initiative

Wendy xx

Depending on where you invest and in what property types you could be paying thousands of pounds more than you’d expect.

You see, I was reading the Mail Online the other day, and I came across a story which kind of surprised me in its complexity. If I am honest I had to re-read it twice to get my head around all the contradicting figures.

Property fluctuations

Now you are probably already aware that property prices increased by 1.5% between April and June, but what you probably didn’t know – well I didn’t anyway – is that flats and maisonettes are storming ahead with 67.5% property price increases.

But they weren’t the only property types to experience a boom. Detached properties for example have also risen 33% above average property prices. It’s incredible.

Yet to make this story even more complicated, property locations are also having a detrimental effect on the cost of housing.

Take London for example.

Whilst detached properties have risen in value across the rest of the UK, in London they have dropped by more than £30,000 between April and June, whilst flats have risen by £8,000.

Isn’t this meant to happen?

Okay, okay… I know that a properties location can have a detrimental influence upon its valuation, but what surprised me most about these figures was the extremity of the differences.

Yes, you may be able to spot a huge difference between properties sold in the South of the UK to those sold in the North. But to witness such a difference between towns/cities that sit side by side is shocking. You have to wonder what is happening.

I suppose in many ways what these statistics prove is the importance of choosing your property investments carefully, calculating their profitability and looking at their tenancy demand first before you invest.

With such property fluctuations you need to be careful, otherwise you could be setting yourself up for a financial loss.

Wendy xx

With bidding wars escalating for property, estate agents are reporting that many homes are now reaching their asking price – if not more – because so many people want to invest.

Take this statistic for example.

During July 2009, there were 292 house hunters to every estate agent who had 59 properties for sale. You only have to take one look at this figure to recognise that the property market is hotting up. It is electric.

Yet I have to admit that I am not sure whether to be impressed or concerned.

On the one hand this recommendation by housing experts for homebuyers to wait – unless they can get family to help them – is great news for investors like you and me. If they can’t buy, then they can easily rent, which means an increased tenancy looking for rental properties.

But with terrace properties selling for more than they fetched 2 years ago this is a dramatic increase considering average property prices have dropped 20% in the last year.

The problem is the growing housing shortage. Even with many first time buyers refraining from making property viewings because they know they have not got the cash to invest, there are still hundreds of homeowners to every property – creating even more competition for investors like you and me to invest.

According to the Council of Mortgage Lenders, the average first time buyer is 37 years old, whilst those who receive help from their parents are averaging at 31.

Either way, these ages indicate how hard mortgage lenders are making it for homebuyers to get onto the property ladder. Without outside aid, they simply cannot afford the 25% deposits to invest.

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