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The West Sussex Property Blog

GL & Co celebrate Christmas

Estate Agency can be a funny business - we work with our vendors, purchasers, landlords and tenants when they are making huge decisions relating to their home and property needs.
 

What works well in lettings?

Further to my last blog there still has been no 'let up' for the lettings team (pardon the bad pun!) and my Christmas cards remain unwritten.
 

We are delighted to announce a number of new appointments to the team in the last 3 weeks.

Adrian Passingham has joined our Pulborough office to work along side Michael Comyn, Adrian's wife runs a local Barbour shop in Lower street and they know the area well, Adrian brings many years of experience in agency in West & East Sussex.

Martin Hyre has joined us as manager of the Horsham office with nearly 20 years experience of agency in Sussex, latterly manager of Howard Cundey in East Grinsted.

Stewart Cunningham has joined him at Horsham office and brings over 5 years experience in agency and other related fields prior to estate agency.

These new colleagues joining us in the current climate has shown that even in difficult times it is possible to expand.We have proved and firmly believe, that if we offer good sound advise to clients you can achieve a sensible level of sales.

We have time and again bucked the trend in the property market. This has been done by being forward thinking and having the self belief that you can achieve anything if you are tenacious, positive and hard working. Continuing excellent customer service at all times will mean striving for excellence and accepting only complete success.

Welcome to our new colleagues, you will all achieve the un- achievable if you take notice of the above.

 

 

Lending was up by 7% in October to £18.7bn great news and shows that given the opportunity people will buy and and move home for those astute buyers they will be getting into the market at a low point and this will give them the benefit of medium to long term gains.

I firmly believe that if lenders are prepared to free up lending, at these attractive interest rates buyers will continue to make sensible purchases of good value homes.

HSBC took a full page advert in the Sunday Times yesterday explaining how it was going to lend £15 billion in 2009 in new mortgages. well if all the lenders start committing to this the only way is forward.

I can't wait until 2009 excitement is not the word, it will be challenging but we are so focused on the marketing campaigns planned and continuing to build our already successful brand.

The farms department is growing the lettings department has had huge growth in 2008 and the sales department is growing slowly but a big improvement in the last 2 months. Bring on 2009 I say!!

 

With interest rates taking another dramatic step down of I am thinking about the state of the local property market and feel that for many this has become a time of great opportunity.

Many of us will be pleased to see the back of 2008. Certainly most of us in the property sector will be.  Of course no one can be sure how much better next year will be but there are signs that at least suggest some optimism is warranted, especially as the Bank of England interest rate has dropped to its lowest for 57 years.
 
Despite a slow market, I can't think of a better time in years to be buying property.  The choice right now is amazing. In a buoyant market scarcity and time/price pressures lead buyers to compromise.  Here is a market where the need for compromise is much reduced.  There is time to explore the market.

Prices have tumbled. Property that for some was unaffordable two or three years ago is now affordable. Serious sellers are really pleased to discuss offers.  If the mortgage lenders would only begin to lend sensibly - and there are signs that the choke is being released a little - all buying factors would be in perfect alignment.  I can't think of a time when this has happened to such a degree.
 
There will be those who still want to wait.  But wait for what?  Prices to fall lower? They may.  But wait until the optimum moment and it will be too late.  Only by a fluke will a buyer complete on the day the market eventually bottoms out; and the day after is a day too late.  There is no exact science in property.  So it is better to find that uncompromising house of your dreams now. Yes, the value may drop a bit further and, it should be stressed, if you have employment or money worries, this is no time to buy.  But for those in a good position, who are making middle to long-term plans, there should be plenty of time to recoup any short-term losses.

So for buyers now is the moment to find the property you’ve dreamed of rather than the property that you might have had to settle for in different circumstances.  The market is yours.  Make the most of it.  It won’t last.  In the property market nothing ever does.

 

Welcome to GL & Co new blog. We are continually exploring new ways to improve our services to our customers and to the public at large.

Surely the web is the way forward to further improve our communication skills and we have a number of other ideas that will also be at the forefront of information technology.

We shall write on the blog on a regular basis to keep every reader abreast of what is going on in the property market in West Sussex.

So for now I shall just briefly comment on my view of the current property market in Storrington,Horsham and Pulborough where our offices are located.

We have seen a dramatic change in the way houses are valued and are selling and it is still going to take sometime for sellers to realise that values have reduced, However they will, sure as day is day, if they are serious about selling they will have to realise that times have changed and that to sell, you have to be on the market at the correct price.

If sellers put their head in the sand they will not do anything quickly. Sure as eggs is eggs values will go up but not for a least 12 months and some pundits say longer. We all know that whatever price to sell at  if you buy in the same market you will get the same discount.

 

 

 

Lettings market as active as ever.

We know that the ups and downs of the property market, whether it be sales or lettings, is something that is close to most people's hearts and is always a conversation topic wherever we go.
 

Welcome to GL & Co new blog. We are continually exploring new ways to improve our services to our customers and to the public at large.

Surely the web is the way forward to further improve our communication skills and we have a number of other ideas that will also be at the forefront of information technology.

We shall write on the blog on a regular basis to keep every reader abreast of what is going on in the property market in West Sussex.

So for now I shall just briefly comment on my view of the current property market in Storrington,Horsham and Pulborough where our offices are located.

We have seen a dramatic change in the way houses are valued and are selling and it is still going to take sometime for sellers to realise that values have reduced, However they will, sure as day is day, if they are serious about selling they will have to realise that times have changed and that to sell, you have to be on the market at the correct price.

If sellers put their head in the sand they will not do anything quickly. Sure as eggs is eggs values will go up but not for a least 12 months and some pundits say longer. We all know that whatever price to sell at  if you buy in the same market you will get the same discount.

 

 

 

As we start the day with a new 15% VAT rate I wonder how this will make a difference to the property market and economy. I feel the short answer is none and that it has been brought in by the Government to help with a feel good factor. For a lot of small companies the administration involved in making the changes is a heavy burden and the benefit very small for the consumer.

The market will start to improve when the Government force the lenders to free up lending at sensible rates.  In the meantime the winners of this market are those people that realize that there is still a market and if they buy or sell now they will have moved at the right time benefiting from low values and less borrowing at better interest rates.

Our Horsham office had a fantastic Saturday with 14 viewings carried out and 3 offers to start the week, long may it continue.