29 July 2008

Book review: “Property Development for Profit”

In my recent blog - Renovation advice to boost property profits - I reported on an excellent property seminar I attended, in which Dr. Dennis Coote talked about "Renovation Techniques to Boost your Property Profits”.

Dr. Dennis Coote is passionate and extremely knowledgeable about property and has developed, renovated, bought and sold over 400 properties during his 40 year career. Dennis and his partner
Book review: “Property Development for Profit”
Hazel Reed are currently renovating another property in Reading.

I highly recommend Dennis' excellent e-book - “
Property Development for Profit” - for anyone who is involved in, interested in or considering renovating property.

The e-book (or e-course) takes you through each stage of Property Development: searching for properties to renovate, dating them, inspecting them, assessing and developing what may need doing. It also covers project management, costing, budgeting, how to deal with tradesmen, solicitors and estate agents, and more.

Having read the e-book, I have found it very informative and so easy to read. It is written in a practical style, with everyday language, no jargon. This e-course will give you the confidence to renovate property and will prevent you from making many costly mistakes! It is a mine of useful information, tips and advice.

The course comes with five separate free bonus e-books: All about Kitchens, All about Bathrooms, The Art of Negotiation, All about the Legal Stuff and How to Sell Your House without an Estate Agent.

Furthermore, if you need help in the first three months after buying the e-course, you can email Dennis who will answer all your questions free of charge!

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posted by Chez-Vous HomeSearch @ 15:48 2 Comments

22 July 2008

The South East property market seems to be holding its own

We listen to the media and things look bleak: property prices are sliding; mortgages are more difficult to obtain and more expensive; energy and fuel prices keep on rising, and so on. After so many years of growth in the UK, times have become harder.

However, the property market in the South East appears to be holding its own, at least at the moment. I meet many propertyprofessionals during the course of running my home search business - estate agents, mortgage brokers, solicitors, surveyors, to name a few. Following quieter times during the last few months, several of these tell me that they are now very busy, with the number of property transactions in the Thames Valley apparently on the increase.

For example, a local estate agent told me last week that her experience with the house sales market is looking brighter. Although homes are now achieving from 5% to 10% less than they would have at the peak of last year’s market, sales were 20% higher in May compared to April. And buyer enquiries have increased in a similar pattern over the last few weeks. Some surveyors in the region, who were struggling for business at the beginning of the year, are now overwhelmed with work.

However, there are some increases that are not so good. Cases of gazundering are also on the rise as some buyers try to take advantage of market conditions. (See my blog - Is gazundering ever justified?).

The message that is repeated time and time again by any property professional is that the best quality properties sell! And purchasers are fighting over those. If sellers want to achieve a quick sale at the best price, then they need to make sure that their property is in tip-top condition and meets buyer expectations. Use the services of a good property stylist to maximise opportunities to sell: Chez-Vous HomeStyle specialises in helping sellers achieve this.

While there has been a downward adjustment in house pricing, the Thames Valley is very popular and therefore, still expensive. The Financial Times recently reported that “Surrey, Buckinghamshire, Hampshire and Berkshire are now among the top 35 most expensive property areas in the world”. Given such circumstances, it becomes even more important for buyers to use the services of a property search agent who will identify over-priced properties and will help their clients to negotiate the right purchase price.

In these more challenging times, clients of Chez-Vous HomeSearch appreciate our expert advice, independence and local property market knowledge. Not only do we save them time and stress on the search for the right property, they can also benefit from financial savings with effective purchase price negotiation, which is when our services become particularly cost-effective.

Laurent Stadelmann
The Property Finder & Relocation Professional

Too busy to hunt for your next home?
Let Chez-Vous HomeSearch remove stress from the property process!
Tel: +44 (0) 1189 770215

PROPERTY FINDING FOR BUYERS / HOME SEARCH FOR TENANTS / CORPORATE RELOCATION SERVICES / PURCHASE PRICE NEGOTIATION SERVICE / LOCATION REPORTS / FREE INFORMATION TO HELP YOU HOUSE HUNT
The Property Adviser blog

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posted by Chez-Vous HomeSearch @ 22:20 3 Comments

16 July 2008

Landlords, remember your Energy Performance Certificate!

In December 2007 I wrote about the requirement to provide a HIP (Home Information Pack), which must contain an Energy Performance Certificate (EPC), when selling a property.

From 1 October 2008, all buildings, whenever they are built, sold or rented out, will require an Energy Performance Certificate (EPC).

This new piece of legislation will affect landlords starting new tenancies (many landlords are still unaware of this – please do not Landlords, remember your Energy Performance Certificate!
hesitate to forward this information).

If you are a landlord and you:
  • already have a tenancy agreement on 1 October 2008; you will NOT require an EPC.
  • plan to let for the first time or re-let your property(ies) after 30 September 2008; you will have to provide a copy of the EPC (a photocopy of the original is acceptable) to serious prospective tenants, either prior to or at the viewing of property.

    - If you let a property to several individuals each of whom has free use of the whole property (from a contractual point of view), then only one EPC will be required
    - If you let a HMO (House in Multiple Occupation) – a property with shared living amenities plus individual contained bedrooms (with locks) – to 5 people, for example, then six EPCs will be required: one for the property, and one for each self-contained room
    - I advise you to commission an EPC for each property you plan to let as soon as possible, as it is very likely that there will be huge demands for new EPCs in August and September.

An EPC is produced after an inspection of a property is carried out by an accredited Domestic Energy Assessor. The landlord is responsible for ensuring this is done. An EPC is likely to cost between £50 and £100, and will be valid for 10 years.

However, if modernisations are carried out, it may be advantageous to have the property re-assessed to reflect the improvements.

EPCs only apply to England and Wales. Northern Ireland and Scotland are producing their own regulations.

The rationale behind EPC and its characteristics
EPCs are part of measures being applied across Europe and are in line with the European Directive for the Energy Performance of Buildings to help cut buildings’ carbon emissions and tackle climate change.

EPCs are measured using the same calculations for all properties, enabling comparison of the energy efficiency of different homes. Part of the EPC is a recommendation report which lists the potential rating that a property could achieve if changes are made. The report lists improvements that one could carry out and how this would change the energy and carbon emission rating of the property.

An EPC (see sample) provides ‘A’ to ‘G’ ratings for the building, with ‘A’ being the most energy efficient and ‘G’ being the least, with the average to date being ‘D’.

Measures you can take now to improve your property energy efficiency
If your rental property is already energy efficient, the EPC will help it stand out compared to those not so energy efficient: potential tenants will be re-assured of lower energy bills – very important in these days of rising energy and fuel prices.

There are some measures you can take now to improve your property energy efficiency, and improve your EPC rating:
1: Replace light-bulbs with low-energy versions
2: Ensure the hot water cylinder has a jacket
3: Insulate the loft
4: Insulate cavity walls
5: Replace an old boiler (15 years+) with a new high efficiency condensing unit, which could save around a third on heating bills straight away.

To find out more about EPCs, visit Directgov.

Laurent Stadelmann
The Property Finder & Relocation Professional

Too busy to hunt for your next home?
Let Chez-Vous HomeSearch remove stress from the property process!
Tel: +44 (0) 1189 770215

PROPERTY FINDING FOR BUYERS / HOME SEARCH FOR TENANTS / CORPORATE RELOCATION SERVICES / PURCHASE PRICE NEGOTIATION SERVICE / LOCATION REPORTS / FREE INFORMATION TO HELP YOU HOUSE HUNT
The Property Adviser blog

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posted by Chez-Vous HomeSearch @ 14:25 1 Comments

14 July 2008

Do you want to rent the oldest, smallest and prettiest council house in Britain?

It is available to rent for £75 a week in Rayleigh, Essex. However, the tenant must agree to open this tiny 17th-century thatched Dutch Cottage to the public one day a week.
It has one bedroom, a living room with a kitchen and a small bathroom.

It is administered by a trust through Rochford Council, Essex. There is one day left to apply.

Watch a video or read more.

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posted by Chez-Vous HomeSearch @ 09:35 0 Comments

11 July 2008

Bank of England keeps interest rates at 5%

The Bank of England’s Monetary Policy Committee (MPC) decided yesterday (10 July 2008) to keep interest rates on hold at 5% in order to balance growing evidence of an economic slowdown against the problem of rising inflation.

Graeme Leach, chief economist at the Institute of Directors, said: "If the MPC reduces interest rates, it risks losing control of inflation. Conversely, if it increases interest rates it risks losing control of growth and could trigger a recession."

The MPC’s decision caused a lot of reactions. Amongst them, Ray Boulger, mortgage adviser from John Charcol, said: "With the economic news from nearly all sectors of the economy getting worse by the day, a rate cut is badly needed to help restore some confidence to consumers and reduce the financial pressure on both them and industry."

In April 2008 the MPC cut the base rate of interest by 0.25% - down from 5.25% to 5%. This followed a similar cut, from 5.5% to 5.25%, in February 2008.
Many experts expect interest rates to remain at 5% for the rest of the year.

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posted by Chez-Vous HomeSearch @ 13:33 0 Comments