Building Solutions (Midlands) Blog » Property Auctions

How to buy houses below market value

Richard — Sun, 25 Jul 2010 15:38:45 +0000

There are several ways to obtain houses below market value, but most methods require a high amount of time and commitment. They range from courting your local estate agent through to attending all the local property auctions. There are some companies that can provide portfolio building and source below market value properties. Some of these companies have suffered in recent times as their operations have become hampered by the recent drought in the buy to let mortgage lending’s markets. If you do chose to invest in below market property in the Midlands, Derby, Stoke-on-Trent, Belper, Ripley, Heanor, of Alfreton and the surrounding areas. There is one company with over 12years trading history and an enviable network of contacts within this area. ambervalleyhomes

Buy below market property

Richard — Sat, 24 Jul 2010 13:45:18 +0000

If you are looking for great property investments one of your main concerns will be getting your new investment property below market value. This way you have a head start compared with many other landlords and property investors in your area. There are several companies that can assist you in building property portfolios and help you find property below market value. It is always a sensible idea to go for a company with a well proven track record and a good trading history. If you are looking for a company to help you with your property investment strategies in the Midlands, we recommend Amber Valley Homes, with 12years of property trading experience they are always please to help new investors with sound advice. ambervalleyhomes

How to save money on selling your house

Richard — Sat, 17 Jul 2010 18:55:20 +0000

The humble British estate agent might have been a figure of fun to many of the British public, often stereo typed as driving X5’s, wearing flashy suites and having over groomed hair. Will these jokes become a thing of the past as we see the end of the traditional estate agent? The recent changes in economic conditions coupled with internet technology have forced many agents to change their business models and change the X5 for a ford focus. However hard the estate agent works they cannot overcome the historically low number of house transactions. So they may have to look at secondary income streams such as property management or property auctions to keep their business in good health until the UK property market stages a full comeback.

The ups and downs of UK house prices and the fundamentals of economics

Richard — Mon, 12 Jul 2010 20:19:03 +0000

The UK house price is affected by the fundamentals of economics but driven by sentiment, it follows the ups and downs of the economy and also the sentiment of the UK public. It would seem that both economics and sentiment have conspired for the third consecutive month to see the humble UK house price drop. The recent drop is thought to be partly as a result of the increased supply of homes hitting the market as many chose to chance their arm at a sale once the H.I.P. was gone.

Buying a property that needs repair

Richard — Sun, 11 Jul 2010 17:39:22 +0000

The are two main reasons that people chose to buy property that needs repair, firstly that they plan to give it their own look and feel or they are finding it difficult to get a suitable property in the location they need. The second main reason why people chose to buy a property that needs repair is that they plan to profit from property. Many property buyers simple cannot find the time or inclination to commit to building work, so these problem properties are often available at a discount. So this is how many canny property developers make a living buying up properties that are in a state of disrepair and renovating for a profit.

Should I buy a house at auction?

Richard — Fri, 09 Jul 2010 19:39:22 +0000

As with any house purchase there are positives and negatives, buying a house at auction is no guarantee of a bargain, but most are sold for an attractive price. The main negative is the speed at which you need to move, there is not time for lengthy debate you need to make a firm informed decision and move quickly to get your property finance in place. Not all properties that are sold at auction require work but the vast majority will at least require some attention. You will need to find a good local builder and ask your estate agents advice on how best to maximize your profits from property development.
They may advise a simple refurbishment or they may advise that the type of property you are buying would benefit from a home extension to make the kitchen or living space more appealing. Whatever your plans for buying auction property the best advice is to go to a few property auctions before you think about buying a property, so you get a feel for how property auctions work.

The number of houses for sale increases by 60% year on year

Richard — Tue, 06 Jul 2010 08:43:46 +0000

The abolition of the Home information packs has undoubtedly given many home owners the motivation to market their properties. Last year was obviously a slow time for property sales and that has been part of the reason why the increase in sales stock has been so dramatic.
The increase in available property has also lead to an increase in the number of viewings which is very positive news for vendors. It must be said that the increase in property viewings is only around a third of the number of new instructions hitting the property market.
Interestingly only two regions in the UK have seen sufficient increase in property sales in June one of which was the east midlands with sale increasing by over 6%.

How do you get planning permission for new homes while planning is in Limbo?

Richard — Mon, 05 Jul 2010 07:32:55 +0000

Many in the world of planning and development are slightly concerned at what they see as a lack of clear direction as the planning laws are altered after the scrapping of regional plans. This has caused some councils to hold back decisions on landmark planning decisions until new policy is clear.
Some developers are left holding expensive sites and land for both residential and commercials property development. The lack of suitable consented sites and land will have an impact on the housing market recovery and may lead to land with consent changing hands at an artificial premium.

How to renovate a house for profit

Richard — Sun, 20 Jun 2010 08:28:36 +0000

This is one of the most popular ways to enter the exciting world of property development, and lets you understand how the processes of project management and the purchase and sales process work.
One of the most important things to do is good research, find out what your target market want from your type of property in your area of operation. Then make sure you “do the maths”, make sure you have a tight grip on renovation costs and resale values. These are the two most classic mistakes that novice property developers make, they underestimate the renovation costs or overestimate the resale figures.
So make sure you get the best local agents on side and find a good builder, many novice property developers choice to use subcontractors and manage the various trades themselves. I would suggest for your first development you retain a main or principle contractor. This way you know who to go to if there are any bits not quite complete. I have seen many developments where all the trades claim that it was not in their quotation or it is another trade’s responsibility.
The other important thing is make sure you do not over stretch your budget or skills, either of these can have devastating consequences. If the job “cost us double our budget”, or “we did not realise it had structural problems and dry rot”, your dream of making easy money could cost you money. If the funds dry up half way through a project, you face the prospect of having a “job on stop”. Not only do you face the issues of refinancing but also your builders may jump ship and be off to the next job. So make sure you hedge your bets and start with a relatively straight forward project. Once you have some cash reserves and more experience then you can tackle a more complex project. One thing to remember is there may be more profit in a few simple developments than getting bogged down on a complex project.

Are you looking for affordable housing?

Richard — Thu, 17 Jun 2010 19:41:02 +0000

If you are, it may be worth making it one of your number one priority, because many in the property sector believe that the number of new affordable homes being built will plummet as house building and property development falters.
The government has quietly scrapped the regional house building targets and this is at a time when new house building has dropped to the lowest level in peace time since 1924!
So as the construction industry struggles on and property development funding continues to be sporadic how do we build new homes without planning or money?
The property industry needs clear focus and direction and the government needs to assist the most successful in the industry to find solutions to our current challenges.