“With a further quarter-point rate increase possible in the third quarter, consumer lending may cool further.”

But now, after a fourth quarter-point interest rate rise in just nine months – and another seemingly on the horizon – are the bears among the property commentators finally about to be proved right?

So what does this all mean for the property market at the moment?

It would seem to reconfirm that we are essentially in a flat market still, except London who are experiencing double digit growth still. All this may change off course if interest rates rise any further, as those with the largest mortgages will be hit the hardest. This could mean a transition in the market as people downsize to cheaper properties creating a demand for first time buyer properties. It all boils down to the old fashioned fundamentals of affordability.

Property indices suggest growth had already started to cool off in the months preceding last week’s base rate rise.

Research from Nationwide, for example, showed that average house price growth between February and April fell to just 2 per cent – the lowest three-monthly increase since last August, when the recent cycle of rate rises began.

Prime locations such as London are also more immune to interest rate rises because of a high level of cash buyers and overseas investors. But other areas – such as the north-west and the East Midlands – are more vulnerable. Although wages have also increased, homeowners are having to set aside a higher proportion of income to cover their mortgage.

According to research at Experian, the housing markets in the south west and midlands will see the steepest corrections. The East Midlands is forecasted to for a 3.7% decline to mid 2009. With the West Midlands expected to see a 4.0% decline in house prices.

If you are having difficulties with servicing your mortgage debt, Sell Your Home Quick are happy to provide advice on getting your payments back on track. And we will endeavour to help those unfortunate to have repossession orders up until the last few days of eviction. We will also rent the property back for a desired period of time at a rent you can afford.

James is the founder of Sell And Rent Back. The site exists to help people to sell their house quickly, normally within 4 weeks, at a fair price and with minimum hassle.

If you’re still asking yourself “how do I sell my home”, check out this Sold In 21 Days website now for a plan of action to get your house sold within a month!Alternatively, check out this article: How Do I Sell My Home With Such A Bad Economy?

Everyone wants to see a brand new listing so you need to put your best foot forward on day 1. I have seen so many times where a rehabber lists a house and the agents take potential buyers to the house, but the house isn’t quite finished. There are a few odds and ends that still have to be taken care of. Agents rush to new listings the first two weeks to see if they want to bring any of their buyers to that house.

When they come out there and they see a dirty house or one that is not complete, they are not overly impressed by it and are less likely to bring buyers back. You are losing that critical time period by not having the house done. Always have your best foot forward day one. Whether you are listing with an agent or selling yourself, make sure that each and every person that comes by is going to see a beautiful home. Here are some things you can do to ensure a quick sale:

1. Curb appeal. This is one of the most important aspects of the house. The exterior is the first thing people see. If potential buyers drive up to your house and do not like the outside, chances are they will not even get out of their car and see the inside. The inside of the house could be gorgeous but they will never see it.

2. Staging. Staging is those added touches that give a house that lived in look. I am not talking about doing a model home where you bring in furniture and window treatments. What I am talking about is little odds and ends things that give it that home feeling. For instance, in the kitchen adding a rug on the floor. Putting hand towels that are full of color. Putting a cookbook on the counter. Even opening up some spices. By opening up the spices what you are also creating a smell in the air. You want to start changing their senses from smelling paints to smelling home type things. Another trick is to get fresh ground coffee beans and open them up in a bowl. They are pretty to look at but also they give off that aroma that will start filling the house. In your bathrooms, you can do flowers and soaps and towels and curtains around your showers. Do all these things that give it that nice lived in look. Staging will sell your house. I don’t believe that those white on white and those absolutely neutral colors like off white and ivory are a good choice. Yes, anybody can come in and match their stuff to it, but the first thing you are going to hear from all the buyers is that they have to paint the house. That means that they are not falling in love. If you want you buyers to fall in love with your house what you have to do is give them color, contemporary colors not old colors from back in the 70s. You want to give them contemporary colors that give the house a designer feel. When you go to see a model home they are never painted white. They have a lot of color in the house because that is what makes it feel like a home. You can’t do a model home because you only have that one house. So make that one look great.

3. Cleanliness. You need to go beyond having the house cleaned up. It needs to shine. The windows should sparkle. There shouldn’t be a speck of dust on the fixtures or counters. The floors should be spotless. Everything should look great.

4. Sun shine. Open the blinds and remove the curtains. Clean the windows. Take out the screens and store them. Let plenty of light come in to create a bright and cheery environment. You do not want the house to appear dark and dismal.

5. Light bulbs. Make sure that all of your light fixtures and bulbs are working. Buyers should be able to turn lights on when they come in the house.

6. Temperature. Keep the house at a comfortable temperature where people will stay in it and have time to walk around and fall in love. I have walked into homes where it is either so hot in the summer time or so cold in the winter time that the only thing you can focus on is how soon can you leave. That is not what you want your buyers thinking about.

7. Access. If you are not going to list the house and have a realtor lock box, then you need to figure out how to have easy access. You need to have an easy way for buyers to get into the house when they are there looking at it. If they have to call you and make an appointment to come back two days later, chances are slim you will ever see those buyers again.

8. Information. Be sure to have flyers with information about the house right there on site. Don’t have empty information folders. Make sure that either you or your agent is responsible for keeping that filled.

9. Signage. Make sure there is good signage that let’s people know that the house is for sale and even some special features about it. Make sure there is also special signage from the main roads so that people know that the house is back there.

10. Other Agents. If you are offering the house for sale by yourself and you are not using an agent, then you should put up a sign that says “agents protected”. This means that even though you are not going to list the property, if an agent brings a buyer you would still pay them the normal half commission.

11. Pictures. If you have the house listed online check what pictures are being used. Make sure they are good, clear pictures that show the features of the house.

12. Description. Whether you are marketing online or in print, make sure you offer a great description of the house. Talk about the features that will sell it. For example, you might say “This is a beautiful home with 10 foot ceilings and heart of pine floors. It’s got an oversized master bedroom with sitting area and large bath. You won’t be cramped for space with this over 3,000 square foot home.”

13. Mortgage Broker. Make sure that you have a good mortgage broker available that offers a wide variety of plans for people with different types of credit, especially if you are listing the house as a FSBO. Many of your buyers are not going to have financing.

14. Incentives. Buyers are usually in need of cash so rather than drop the price, offer to pay things on their behalf. They won’t have to bring as much cash to closing. You could offer to pay the closing costs or give them some sort of allowance toward decorating. That will often attract them more than just the discount price of the house. Let’s say that the price was discounted $10,000 off the original price. This is a big deal to you, but to a buyer, this is only a $10 per month difference.

15. Commission Rates. Offer higher than normal commissions to the selling agent. If the house down the street is offering 3% but you are offering 4%, they are more likely to show the buyers your house.

If you do all of these things, your houses will sell quickly. Just always remember to look at it from a buyer’s prospective and make sure you are offering a great deal.

Lou Castillo has been successfully investing in real estate since the early ‘90’s. Castillo was on his way up the corporate ladder until he recognized that real estate offered a greater opportunity for financial freedom, and for the lifestyle he desired. Lou has a knack for developing powerful & proven systems that work in real estate and has authored more than 7 books and courses on the subject.

For more information or to sign up for Lou’s Powerful real estate Investing Tips go to: http://www.FreeRealEstateStrategies.com

This PR has been submitted by TrafficMagicians.com

Don’t Let That House Sit Vacant!

The longer a vacant house sits the higher the chances are that it will become a target for vandals, neighborhood kids, code enforcement citations, and mother natures constant abuse of the elements. All of these situations cause stress on the homeowner. They plan on fixing up and selling the house but the day to day demands of every day life seem to keep pushing that goal further and further away and the house steadily continues on its path towards deterioration and loss of value. We are fast homebuyers and can keep this from happening to you. When houses sit vacant they still cost money. Taxes keep accruing, Insurnace payments keep coming, and of course the house needs to be maintianed. The lawn keeps growing and the paint keeps fading. Vacant houses lose their value very fast.

Take Action…..Feel Better

Finally the homeowner usually sees our television add or gets one of our postcards and decides to take action. I can’t tell you how many times I have been told that by selling me their house they felt like a huge stack of bricks had been lifted from their shoulders. We deal with people looking for a fast home sale “Thank You for making this such an easy transaction” is what Kim Barry wrote to us. She was at her wits end and finally called us to take a look at her house. We made her a fair offer and closed on the house in one week.

Here’s What You Need To Do

If you have been puting off selling that vacant house give us a call. We’ll come out and make you a cash offer on your house right on the spot. We’ll buy it as/is and pay you cash in as little as 3 days….no kidding! Go ahead and get that headache off of your mind. Give us a call at (405) 228-4906 or logon to our website for a fast, free evalutaion and offer on your vacant house. We are a local real estate investment company that buys houses all over the Oklahoma City metro area. We buy in any area, price range, or condition and we pay cash. We can make you an offer on the spot and can close within 7 days. There is absolutely no pressure. If we can’t agree on a price we’ll give you all of your options and steer you in the right direction.

Be cock-sure about one thing that buying an already built house is going to cost lesser than the other options. In fact, that is the first thing for you to decide before buying a vacant land.

Builder’s economy of scale is undoubtedly a very important thing to make acquaintance with before you go onto buy a vacant land. If a builder buys a land for development, they eventually pay wholesale price making a subdivision of one parcel. As a result of which, the cost usually comes down for them. Whereas, in order to buy a land you are to pay the retail price which is of course much higher. As for an instance, if you pay 6.50 per ream in case of buying one ream of multi-purpose paper, it would come down to 4.50 per ream while buying a case of the paper. However, this principle is in consistency with your decision of buying a land or a house.

A Real Estate investment involves your financing for three different aspects of a same project like house construction, building lot and for property already completed. As far as the economic survey is concerned, all the banks and mortgage companies do not offer lot loans and construction financing and for this discouraging scenario, you are in absolute need to come up with your cash for 20 percent to 25 percent of the purchase of the lot. For you, a loan is needed in order to complete the site work and house construction and after the house construction is completed, the two other loans are going to be replaced by a permanent loan on the entire property. Noteworthy, you are going to pay some fees for the loan.

You are in need of a builder, Real Estate attorney, and may be an architect.

Appointing an architect for the purpose of designing is very costly. So, search for a smaller but experienced builder because a reputed builder would not be interested in making just one house. Before tying up with a builder, you should have a contract paper maintaining all the details and you should have your attorney. Importantly, before buying a lot, you should collaborate with your builder.

Once again, be sure about the actual condition that you are going to be in. For a builder, it is 515,950 for the sale of 3,750 square feet home in a new home community. There will be all-round facilities like three car garage, skylights or anything you want. Whereas, building a house in your bought land gets a figure like 516,250, for instance. However, this expense excludes many factors and also, it would, by no means, a house that you are in quest of.

They’ve also tightened the purse strings – especially when it comes to the subprime market. Lenders are demanding documentation, downpayments and turning back to more traditional methods of qualifying loans. Those with a long history of paying bills on time won’t be affected, but first time buyers or buyers with spotty credit histories need to get their paperwork in order.

The good news is that there’s no great trick to it. With a good realtor, lender and a bit of financial diligence you can realize your dream even if you’re not a prime borrower. The right home and mortgage are out there for you.

FIVE WAYS TO MAKE YOUR REAL ESTATE DREAMS COME TRUE

1. Find a banker or mortgage broker you can trust

2. Improve your credit rating: even if you’re a year or more away from making a purchase, it’s never too early to start. Don’t kid yourself – anyone can do it

3. Clean up your report: scrub any problems or errors on your credit report clean

4. Educate yourself: learn the terms and take time to build your team

5. Work with a REALTOR: a good realtor will always save you time and money in a real estate transaction

NURTURE YOUR RELATIONSHIP WITH MONEY

There are a wide variety of loan types out there and you should never settle for the first one you see. While interest rates are usually the first consideration, the terms of a loan can be equally important to your long term financial well being. Sorting through the options will be easier and far more effective when you have a strong relationship with a banker or mortgage broker you can trust. That’s why it’s more important than ever to shop around for this key member of your real estate team. In most cases, this should be the first step in your search for a home.

A loan officer at a bank will be able to provide you with the range of lending options available through their institution. There is no charge for this service, though loan officers often work for commission. Banks often have a local advantage and a better understanding of the property you are interested in purchasing.

A mortgage broker on the other hand, is not limited to products from a single institution. The broker works for a fee, most often taken They will shop around to find a loan that suits your needs and will work with the chosen lender until the deal closes. Brokers can often find a lender for a loan that most banks would refuse.

WORK WITH A REALTOR

Your realtor knows the local market and who plays in it. Remove some of the guesswork from your search by taking advantage of their expertise and connections. They may be able to recommend a reputable financier, give you additional information on areas or properties you’re interested in, or even help you find an interior designer when the deal is done.

Buying a home will probably be the single biggest financial investment you’ll ever make but it doesn’t have to be your biggest risk. With the right real estate agent, financing, information, and financial management, you will be the path to a brighter future of home ownership.