Author: Zoe Wotton

The last two years have been hectic for the South Devon property market.

But now, the market is slowing down, and homes are not selling as fast as they once were.

It’s also becoming harder to sell a home for a premium price.

Add to that the cost of living crisis and other global events hitting us in our collective pockets.

The good news is it’s still possible to achieve an excellent price for your home if the estate agent working with you knows how.

As the economy stagnates, homeowners want and need to get the best possible amount for selling what is often the most valuable thing they own (unless you have a Monte Carlo-moored super yacht, perhaps).

Working with an exceptional estate agent is the key to unlocking your home’s selling potential. Yes, we know, we would say that.

But particularly when every pound counts, selecting a skilled, experienced agent is a worthwhile investment.

Below are the three main reasons you need a value-for-money estate agent now, more than ever.

• Cheap agents cost more

If the cheapest agent charges a £1,000 fee but sells your home for £10,000 less than an agent whose fee is £3,000, who really is the cheapest? The best agents put more money in your hands.

• Your marketing matters

When buyers become less active, it’s crucial your property’s marketing is of a high standard. The best agents know this. Skilled agents build a buzz around your property that increases desire and demand by creating outstanding marketing and presenting your home in its best possible light.

When a property is in demand, it drives up the potential price.

The flip side of this is poor photography, lazy property listings and agents being reactive, not proactive. Ask any estate agent you consider selling with to share their marketing plan for your property. If they don’t have a clear, well-thought-out plan – run away. 

• Negotiation nous

Agents who work off selling as many properties as quickly as possible, but for cheaper fees, often don’t have the will or skill to negotiate on your behalf. It’s simply not in their interest to do anything that would potentially make the selling process longer.

That pile ‘em high, sell ‘em cheap approach can cost you thousands of pounds. This strategy might work when selling baked beans, but it doesn’t help homeowners maximise their home’s value.

The best agents know how to attract the biggest pool of potential buyers, putting you in a position where you have multiple offers.

And here’s where the art of negotiation comes into play.

A skilled agent will give experienced-based advice on which offer is your best option and advise you. They will then negotiate on your behalf to sell your home for the best possible price.

We’re here for the home sellers of South Devon, now, more than ever.

They say the best things in life are free, so here’s a quick and easy way to brighten someone’s day that won’t cost you a penny – but will make you feel good.

He may have been known as ‘Cranky Franky’, but crooner Frank Sinatra is responsible for popularising a very cheery message that has stood the test of time.

Sixty years ago, he enjoyed a hit with When You’re Smiling, a tune best known for the catchy lyrics “When you’re smiling, the whole world smiles with you”.

Cynics may think the song’s theme is a little cheesy, but research has shown it’s actually true. Smiling is contagious and good for our health. Let us explain why.

The science behind smiling

Researchers have discovered that when we smile, our brain releases the feelgood chemicals serotonin, dopamine and endorphins. In other words, flashing a cheeky grin improves your mood and lowers your blood pressure and anxiety levels.

And as we humans are hardwired to mimic the mannerisms and facial gestures we see around us, chances are the person you smile at will smile back – and also enjoy a dose of positive chemicals.

World Smile Day

This brings us to World Smile Day, which is today (7 October). The event was started by Harvey Ball, who designed the iconic yellow smiley face image that has appeared on countless badges and t-shirts (and inspired the smiling face emoji).

Ball created the image in 1963 but never trademarked it (he says he was never money driven). However, by 1999, Ball felt that the original meaning behind the symbol (friendship and kindness) was getting lost, so he started World Smile Day. It aims to encourage people to spread good cheer through random acts of kindness.

So now it’s over to you. How will you mark World Smile Day? You could:

• Flash your pearly whites at passers-by as you go about your daily business.
• Give up your seat on public transport to someone.
• Stop to chat to a neighbour who you rarely talk to.
• Dish out thoughtful compliments to people whom you encounter in person and online.
• Donate to a local charity that is doing positive work in your community.

From all of us here at Chamberlains, stay safe and keep smiling.

Many buyers say that hunting for a new home is like looking for a healthy, low-calorie meal in a greasy spoon café… not easy. As well as wanting the right property in the right location, they usually have a long checklist to satisfy before even viewing a property.

If you’re selling, it’s useful to know what buyers are looking for so that you can get the marketing spot on.

This quick read looks at what buyers want most from a home in 2022. 

Flexible living space 

It’s clear that the pandemic has changed the way we live. One example is how working from home is more popular than ever. Research has shown that by 2025, nearly 40% of employees will WFH. So, it’s no surprise that homebuyers are now focused on finding a space where they can live and work in comfort. That box room you can’t fit a bed into is now the perfect space to set up as a home office.

Garden or outside area

While it seems that house prices continue to rocket, the sale of flats hasn’t followed suit, with price growth much slower than other property types. Recent studies have shown that people are not only desperate for gardens but would also pay up to 5% more for one.

Broadband speed 

People want to be connected, and quickly. That’s why internet speed has become a significant factor for homebuyers. In fact, many sales listings in rural areas include connectivity information alongside the number of bathrooms and bedrooms.

Poor coverage can seriously reduce a property’s saleability, and more buyers than ever list this as a necessity when searching for a home.

Eco-friendly homes

With energy prices higher than ever and green mortgages promising lower interest rates, savvy buyers are looking at a property’s energy efficiency as a deciding factor. Features that make a home more eco-attractive include double glazing, alternative energy sources and electric car charging points.

Proximity to schools

This might be an old one, but it’s still relevant, especially to families. Competition for school places is fierce, so living in the catchment area for a decent school will always be a strong selling point.

If you’re considering selling, get in touch with us here at Chamberlains for more great advice on marketing your home. Contact us to register your details.

Selling a property for the first time? Here’s a helpful guide to help you navigate the process. A two-minute read.

Putting your property on the market can be stressful at the best of times, and even more so if you’ve never done it before. But don’t worry. With planning and preparation, you can avoid some common property pitfalls.

Let’s assume that you’ve made up your mind that it’s time to sell. Here are the next steps that you need to take.

Do your research

Look at similar properties already on the market and note their asking price and state of repair. How does your home compare? If it needs a spruce-up/declutter, make a to-do list and get started. You’d be surprised what a difference a lick of paint and a few minor tweaks can make.

Nail your admin

Go through bank statements and get a clear picture of your earnings and expenditure (no cheating), so you know what you can afford in terms of mortgage repayments. It’s also worth getting together all the paperwork for your home: deeds and details of leasehold or share of freehold arrangements (if applicable). This will speed things up further along the selling process.

Money talks

Your big move will most likely involve purchasing another property, so discuss your financing options with an independent mortgage adviser. Be aware that if you have an existing mortgage, you may get hit with an early exit fee if you sell and move mortgages to a different provider.

Choose an agent

Recommendations from family and friends can provide a useful starting point but always talk to more than one agent. We suggest you invite three agents around to value your property. Ask lots of questions and be wary of agents giving unrealistically high valuations – they’re telling you porkies to land the listing.

Also, steer clear of agents trying to lock you into an extended tie-in (some make you commit for 24 weeks and an additional 28-day notice period). If they need half a year to sell your home, they’re not very good.

Instruct a solicitor

It’s useful to have a legal eagle on board before the sales process kicks into full swing. Again, ask around for recommendations and talk to your agent, who will also have contacts. As with choosing an agent, the cheapest isn’t always the best. Go for a solicitor with a good reputation.

Get an Energy Performance Certificate (EPC)

You’ll need to get an EPC (it’s a legal requirement), and your agent will help you arrange this.

Dress your home

When it’s time for your property’s marketing photos, talk to your agent about how best to present your home. Take their suggestions on board because first impressions really do matter. 

Here at Chamberlains, we have a great sales track record. Get in touch to find out more about our winning formula. Download our first time sellers guide for more info..  

In this two-minute read, we look at how new trends could change our homes next year and in the future.

If the past couple of years have taught us anything, it’s that no one really knows what’s going to happen in the future.

But we’ve dusted down our crystal ball (with the help of some Google searches) to discover the trends forecasted to shape the way our homes look, function, and feel.

Below are five trends that style and design experts are predicting will become a hit in our homes next year.

• Natural colours – We’ll all be going back to our roots – well, kind of. White, ivory, taupe, and grey will be must-have colours, along with the bounce-back of beige. Shades of green are being widely tipped as next year’s number one colour.
• Flexible spaces – As the pandemic highlighted, rooms in our homes now need to be multi-purpose. Home offices are still on the rise, and with a bit of careful planning, that space in the corner of your living room could be turned into a study/work/play area. This could spell the end for the man cave as it will be under pressure to become a family den.
• Good for the planet – As climate and sustainability feature more highly in people’s thinking, our thoughts are predicted to apply this mindset to our homes. Long-lasting materials such as stone, glass, onyx, marble, granite, and light wood will become more popular as furniture and features of home decoration. Indoor plants are also forecasted to experience a boom.
• Built to last – Has fast fashion hit its peak? Because fast furnishings seem doomed to being consigned to the past. Instead, interior design experts are predicting we will start buying better-made, longer-lasting furniture. It’s a bit like choosing a good estate agent to sell your home, it may cost more, but you won’t regret it in the long run.
• Going to extremes – In keeping with the theme of cutting down consumption, some experts are confident that extreme minimalism will become increasingly popular. The focus will be on functionality – if you haven’t used an item for a while, it’s time to lose it and create more space in your home.

Whatever happens in 2022, we’re confident that the home moving market in South Devon will continue to see a lot of activity and price growth.

How your home looks and feels helps you enjoy its full potential, and that’s something that’ll never go out of fashion.

If you have a property question you need an expert answer to, contact us today.

In this two-minute read, we look at reasons why a property may be classified as unmortgageable.

Selling a property can be tricky at the best of times, but when a property is deemed unmortgageable things can get complicated.

‘Unmortgageable’ means lenders won’t allow a potential buyer to borrow the money they need to buy a property. For many sellers, this can be a knockout blow and can significantly reduce their options.

Here are five common reasons why lenders won’t finance a purchase.

• The property is uninhabitable

This applies to derelict properties, buildings that have been abandoned, that pose safety risks or are considered not weatherproof. In addition, properties without a kitchen or bathroom may also be classed as unmortgageable.

As a buyer, you may have big plans to restore a dilapidated property, but a lender may take a different view. If this is the case, always seek financial advice to learn how else you could finance the purchase.

• Structural problems

If a property resembles the Leaning Tower of Pisa, chances are it’s got a bad case of subsidence – another big no-no for lenders. Other structural issues affecting whether or not a property is mortgageable include severe damp, dry or wet rot.

• Short lease

If you spot a flat on the market for well below market value, it may have a short lease (under 70 years). A short lease knocks thousands off the value of a property as a buyer may struggle to get a mortgage (if they can get one at all). They’d also have to pay for a lease extension. This is costly (and can take ages) and there are often restrictions around how long you can own a property before applying for a longer lease.

• Proximity to commercial or industrial sites

Lots of people live above shops so obviously these properties aren’t unmortgageable, but they aren’t always given regular residential mortgages. Particularly if they are above shops such as dry cleaners or restaurants (where there’s a high risk of fire/smoke damage). Similarly, if you buy near a factory or industrial site, a lender may be more reluctant to provide a mortgage as it may be difficult to sell on.

• Doesn’t comply with building regulations

Sometimes extensions or building work is carried out without the necessary approval, or doesn’t meet strict building regulations. This can hamper a sale as a lender will need to see the necessary permissions/certificates to provide a mortgage.

Speak to us at Chamberlains to find out how we can help you sell an unmortgageable property.

In this two-minute read, we look at ways sellers can identify genuine buyers.

With demand currently outstripping supply in the housing market, sellers are in the driver’s seat, but there is still one hazard that could derail a sale: the flaky buyer.

In a hot market, it’s not uncommon for panicky buyers to make an impulsive offer or go beyond their financial limits.

A buyer might do this because they fear that prices are rising and the market is getting away from them. Or perhaps they’ve been outbid in the past and don’t want to lose out again.

Whatever the motivation, the result is the same: the buyer isn’t committed and drops out weeks or months into the sales process.

Not only is it frustrating for the seller but it could also cost them financially if they’re part of a chain which then collapses because the parties involved grow impatient.

Here are some tips to help you identify genuine buyers.

–         Arrange a second viewing. If the buyer makes an offer after the first viewing, your agent should arrange a second visit to see if they are still as keen as mustard. The buyer should be quizzed about their plans for the property to see if they’ve thought through the purchase.

–         Do the admin. Ensure your agent gets the buyer to fill in an offer form that includes details about their mortgage provider and solicitor. It’s preferable to go with a buyer who already has their ducks in a row.

–         What’s the story? Chat to the buyer about why they are moving. If they’re expecting a baby and have family in the same street, it’s a fair bet that they’re the real deal. If they know little about the area or their story keeps changing, question if they are committed to the sale.

–         Ensure the lines of communication are open. Ideally, your buyer will keep you informed of their progress on the survey, searches, and chasing solicitors. Be wary if things go quiet quickly.

–         Work with an experienced agent. Even though it’s a buyer’s market, a good agent can streamline the process for you. They’ll be good at spotting the genuine buyers from the chancers.

For more advice about selling your home, contact us here at Chamberlains

© Chamberlains 2021