I know it has been a long time since my last installment and for that I apologise.
Squires Estates has been extremely busy these past few months and most importantly my co-Director Adam Redhouse and his wife have had a new baby boy, Sidney Isaac, so a huge congratulations to you and your family.
I was interviewed very recently by a property journal about Squires Estates and also the current market conditions.
You can read it below and hopefully you will find it a useful insight....
What properties are selling in your area at the moment? 3 and 4 bed houses and flats under £400,000.
Who are the types of buyers buying at the moment? First time buyers.
How can people increase the viewings on their property? Price it realistically and show it in its best possible light. Floor plans are a near-must.
Who are the best buyers at the moment? Anyone who can get a mortgage or cash!
Why do agents charge a percentage fee rather than a fixed amount? I guess it was always seen as an incentive to get the best possible price (although this is our job!) and it’s always stuck from there on in.
How important is the condition of the home when looking to sell? If it’s the type of property that’s being sold to an owner-occupier or rental investor it’s paramount. I am a firm believer of freshening up where possible and of course de-cluttering/tidying.
What’s happening in the world of mortgages? Lenders are strict but there’s still plenty of products out there.
What should vendors do before selling their house? As I said earlier freshening up etc. and ensure that there are no avoidable outstanding legal points which may delay matters e.g. getting an extension signed off.
How many viewings on average should l expect before l get an offer on my house? That’s an impossible question to answer but in this market if it’s priced realistically you should expect an offer within the first 2 weeks.
Is there a particular area that seems to be selling faster than elsewhere? Not within the areas that we cover.
Which properties are more popular flats or houses? Depends on the flat and house. There is high demand for flats under £400,000 and huge demand for 3 and 4 bedroom houses up to say £700,000. With the higher end flats and houses the demand isn’t as high.
How is the middle to top end of the market bearing up in your area? See above.
Have house prices increased or decreased in your area in the last 12 months and what is the percentage? Increased by approx. 20%.
Can you see rent increases this year? Yes but not by a great deal.
Why should a vendor use you to any other estate agent in your area? A big point of difference for us is that we advertise all our properties out of all 3 branches; we don’t draw boundaries. Also we are running a special 10 year anniversary offer which many vendors have benefitted from.
How long have you worked in Estate Agency? 15 years.
What main changes have you seen in the last 40 years? Well I can’t comment going back that far but since I have been in the industry obviously the use of email has been a huge change and the use of floor plans and professional photos too.
Are you a member of an Ombudsman scheme? Yes for both Sales and Lettings.
How do you price my property? I look at comparables. What I have sold, what other agents have sold and what is currently on the market. I have to take into consideration the length of the lease if leasehold, of course the condition of the property and if any alterations have been made.
What percentage of clients would recommend you? We survey every buyer and seller on completion. 100% of the people that return the survey have said they would recommend us.
What are your predictions for the property market in your local area for 2014? I think the market will cool but I certainly don’t see it going down. Basically price increases but not as sharp as we have seen over the last 18 months.
Do you support the local community if yes how? Yes. We sponsor a local school in Finchley and volunteer at both Belmont Farm in Mill Hill and Rubens House care home in Finchley.
What do you love about being an estate agent? Dealing with people, not being tied down to a desk all day and the satisfaction of helping people with such an important part of their life.
Most importantly what car do you drive? Erm dare I say it…….a BMW!
What interests do you have when you are not running your own company? Spending time with my family, QPR and cricket. What else do you need?!
Edward, Director of Squires Estates