Welling Investment Property of the Week - 31st Jan

Property of the Week

Marketed Price £199.995

Expected Rent £875pcm (tenants already in situ)

Rental Yield 5.3%

http://www.rightmove.co.uk/property-for-sale/property-57727459.html

I'm staggered to see this rental investment in SE18 is still on the market after 2-3 months. 

It's being sold to a limited market with tenants in situ, so wouldn't suit a first time buyer, but is ideal for a landlord looking to add to his rental portfolio. If it already has a tenant in place there will be no void period when you acquire the property at completion, and no letting agent to pay to search for a new tenant for you. Instant income!

At £875pcm the property gives a generous 5.3% rental yield at asking price, which you might be able to negotiate on a little given time on the market. 

In a modern block, and within sensible walking distance of the Crossrail transport links coming in in 2018, the value of the property is only going to increase as well making it a good property for capital appreciation too. 

Well worth a call to Beaumont Gibbs in SE18.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

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Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

How should I price my Welling sales property to attract maximum interest?

When valuing property I always make it clear to every vendor I meet that what you market your property for and what you achieve are not necessarily the same thing.

In the shops it is very obvious that items are marked £9.99 and not £10 to give the impression that things are cheaper (is anyone really that daft nowadays?). 

But when looking for a property to buy, especially online, marketing at a cheaper figure can, believe it or not, sometimes work against you.

How so?

When searching for property online most sites will use price bands and you will be required to do a search between a pre-determined X and Y. These figures are often set at certain ceilings, like 300k, 400k and 500k for example. Similarly, almost every property site will default the results of your search in list order from highest price to lowest price. 

Therefore a property listed at £500,000 will more often than not appear at the top of a search and one at £499,950 will appear at the bottom.

Where do you want your property to appear?

If you are looking to maximise the amount of online interest you get, which ultimately will influence viewing numbers and time taken to sell, pricing correctly is crucial. 

Discuss this with your estate agent BEFORE you go on the market, as its a little too late to rectify once that initial rush of interest on day one has passed you by. 

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website
Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

Why doing your own viewings on your Welling property may be costing you money

"I know this property better than anyone" is something I often hear on valuations or as we are in the process of being instructed to market a property for sale. It's only a few seconds until the "I can do my own viewings" comes along too. 

Not a good idea in my view, and this is why:

You're paying them, let them do the hard work for you
If you are paying someone to sell the property for you, let them do it. Why do the work yourself?

Expertise

You may know the property better, but you probably don't know the sales process as well as the agent. Your buyer is likely to want to know about everything, not just when you fitted the new fuse board. Let the expert take the strain.

Building relationships, so less risk of an abortive sale
We want to meet you buyer, and you should want us to meet them, in order we can build a relationship with them like we have done with yourself. This will allow us to ask those little questions to assess the motivation and seriousness to potentially buy your property. How can we recommend them to you as a buyer if we haven't done this thoroughly? and there is no better time than when showing them your home. Across the industry 25-30% of sales fall through. Minimise that risk by letting us meet your buyer.

Honesty!

Feedback, be it good, bad or indifferent, is critical. Buyers will be honest with us, but are less likely to be with you. If they like your home they won't want to show their cards prior to a potential negotiation to buy it, and if they don't like it, they won't want to offend you. We need them to be honest, and they are more likely to be so with us directly. 

Putting your foot in it

It's very easy to put a buyer off, sometimes without even realising it. Minimise that risk by having someone do the viewings who is very experienced at doing so, whatever their knowledge of your individual property.

Emotion

This is a business transaction to us, its probably a lot more than that to you - especially if you have lived in your home for a long time and raised your family there.

Flexibility

We're probably around more often to conduct viewings than you are.

Expecting to meet an agent

Surveys suggest that over 90% of buyers expect to meet an agent on a viewing rather than the owner directly. It is perceived to be the norm. 


We're good at what we do, let us work freely and we'll get you the best possible result. 


If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

Sale by Tender in Welling - and why you could be costing yourself more money than you think

If something is free, why pay for it?

If you can sell your property in Welling without any financial cost to you, that's a good thing right? Maybe not ...

What is Sale by Tender?

In short, Sale by Tender is a way of advertising and subsequently selling your property where your buyer pays the estate agent their commission (sometimes marketed as "Buyers Fees Apply"), leaving you as the vendor, to pay them nothing. Great news! £1000s saved!

But wait...

When selling your property you would want as many people as possible to be interested in viewing it, and then offering to buy it, right? How do you think "Buyers Fees Apply" is going to appear to a potential buyer? Is it going to encourage more people sniffing around your home, or less? The mis-understanding or unaffordability could put people off. If a buyer is already using every last penny saved to put the deposit down, or for potential renovations, are they going to be happy, or be able to afford, to put another few £1000s into things up front?

And what about your potential buyer that is out viewing 5-6 properties with other agents that don't use Sale by Tender. How is that buyer going to feel, or what will they think, when your approach is different and it costs them more money. Will that mean they offer to buy a house elsewhere rather than yours on account of cost?

My suggestion would be that you are likely to put people off - and who wants that?

Basic supply and demand dictates that the more people are interested in acquiring something, the higher the potential price for that item might escalate to.

So ask yourself this, would you prefer more or less competition for your sales property?  As much as possible of course! and is Sale by Tender the best way to initiate that? in my view, no.

So don't view paying an agent a fee as an avoidable cost, view it as a necessary evil if you must, that you are paying to maximise the interest in your property amongst other things, and a good agent should be able to increase the achieved price for your property by considerably more than they are likely to charge you.

And that is why paying an agent makes sense.

For news and/or guidance on anything relating to residential property in Welling and close surrounds please do not hesitate to get in touch directly on kevin@dansonpropertyservices.com

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

Welling property prices are up again!

It was only two weeks ago I wrote about my predications for the housing market in Welling in 2017. This week, as expected, there have been more articles in the industry press, and out to the public from the major portals like Rightmove and Zoopla, confirming just that. Below you’ll find all you need to know that will affect the value of your Welling property.

Zoopla up first, with their January newsletter that can be found on the link below. The general theme for them seems to be “shortage of housing”. A lack of supply. This definitely can be related to the Welling market, we have had three separate three bedroomed semi-detached houses in December and early January all receive offers at either asking price or above.

The Zoopla piece can be found here … Click for Zoopla report

and specific to Welling, prices are up 6.3% for the DA16 postcode in the last 12 months, which in monetary terms equates to £21,384.

Rightmove next, they report “encouraging early signs of home-mover activity” because “visits to Rightmove are up 5%” on the same period last year, even despite last years buy-to-let surge to beat the Stamp Duty hike. That would back up the demand outstripping supply theory as well.

Prices are split with Rightmove per bedroom for ease of reference, and please remember these are averages:

Their information reported mid-January on December trends can be found here … Click for Rightmove report

And finally, averages yields for the landlord amongst you. Rightmove report that the average yield for the Welling, DA16 area is just 4.85%. This is either wrong, or there are a number of landlords out there not maximising their investments, and if that’s you, please do get in touch free and without obligation to discuss how we may be able to help you get more from your property investments.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website


Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

What are you going to charge my Welling tenant?

I am sure I'm not the only estate agent in the land that is regularly asked by landlords and vendors what I charge.

Fortunately I am one of the cheapest agents in town so I always get a positive response when I give my answer, but to me the more important issue should be VALUE.

What are you getting for your money? Do you want the cheapest agent or the best value agent? But that is a conversion for another day.

With the changes in legislation in late 2016 regarding tenant "admin" fees and the ban in the near future after Government consultation, I did some research in to local companies and what they charge their clients, and by clients I mean landlords, vendors, and tenants!

And it got me thinking. Do you know how many times I have been asked by a landlord what I charge a tenant? .... Never. Not once, in 11 years.

But why is that important? Well, if you were a landlord, you would want to know your prospective tenant was getting good value too wouldn't you? You would like to think that every tenant interested in your property was going to want to take it and not be put off by sky high agency fees left, right and centre. If your prospective tenant was considering either your place or another, you would want them to pick yours right? and you wouldn't want a £50 charge here and a £100 charge there a barrier.

I've rented myself in recent years, and the staggering difference in charges made by agents in the local area, some justified, some trivial, is nothing short of a scandal, and the very reason why the tenant fee ban is likely to come in. My partner and I rented a three bedroom house a few years ago, and the charges on the way in, all inclusive, were near £600, and another £100 or so on the way out. It's enough to make you not want to move. 

I'm pleased to say that we are very transparent with our fees, and they are low because whilst we are a business, ripping people off is not sensible for me as a business owner. 

And if you are a homeowner or a landlord, look at things from both sides of the fence. Place yourself in the shoes of your potential buyer or tenant, and ask those questions too....

What do you charge? Is a big question.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

What will happen to the Welling Property Market in 2017?

If you are a property owner or landlord in Welling, or looking to make your first purchase, then what is likely to happen to the property market in 2017 is probably of interest to you.

2016 was a funny year with the increase in Stamp Duty for secondary/investment purchases, continued low interest rates, more amendments to tax laws for landlords and then Brexit. All in all most people working or involved in the property industry found things were changing all too frequently and most landlords were finding things weren’t quite as profitable as they had previously been.

2017 should hopefully be a little more “normal”.

But don’t believe everything you read in the papers, because all of those figures are National averages and what is happening in the north of the country doesn’t matter to the Welling property owner, or estate agent for that matter. Doom and gloom sells papers.

So what is likely to happen here in Welling and close surrounds?

If you are selling, or thinking of selling, or I suppose re-mortgaging, then 2017 is likely to be a good year. The lack of supply in the area is well known amongst the buyers out there fighting over the few houses that are up for sale. There really is so little available. That means if you are selling, the change of someone “preferring the property down the road” is less likely, as there probably isn’t one down the road. By default your property becomes even more popular than it would already have been, and that means more views online, more phone calls into the agents office, and more viewings. Those things in turn inevitably mean more offers, and more competition drives the price up, as well as allowing you greater control over who buys the house so you get the more motivated, more serious buyer. That often means a shorter turnaround time once you are under offer, and less risk of a fall through sale. All of these issues benefit you.

And when is best to sell? Well, now! With so little available, take advantage. Alternatively, April is a good month with many people coming in to money at the end of the financial year, and preparing a Spring sale ready for a Summer move.

If you are a landlord, rents will continue to creep up. Supply is stronger , but there are far too many properties listed for rental that are presented poorly, either by landlord or agent, meaning if you do have a flat or house for rent that is well decorated, spacious and near to amenities and the station, the rent is likely to be £50-100pcm more than the previous let.

Also, there are now less landlords in the market for expanding their portfolios due to taxation changes, so if you are looking to add more property to your portfolio there has never been a better time.

If you need any advice on residential property in the Welling and Bexley area, please do not hesitate to contact me directly on kevin@dansonpropertyservices.com
If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation