About

Moving home successfully in the current housing market
The process of buying and selling homes in England has always been a bit tricky, thirteen years as an estate agent taught me that the hard way, but the market we see today is unlike any previously seen and if you want to move now you really need your wits about you.  So it’s important to thoroughly understand situation and make the most of it.
Despite the state of the current property market certain facts remain the same, they are:  Firstly,  that paying rent is dead money.  Secondly, that although we all know today’s situation is diabolical we also know that it will stabilise at some point and in the long run property will, once again, increase in value and earn us money.  Instead it’s time to take a look at the current process of buying and selling and see what opportunities that leads us to.
Let’s start with the bottom of the chain; normally every chain would need someone who isn’t dependent on selling to buy the first property in the chain, traditionally this would have been a first time buyer but in recent years it was more likely to be an investment buyer.  Where are they now?  Nowhere to be seen because a) the ability for both of these groups to get a mortgage have been greatly reduced by the credit crunch, and b) they’ve heard prices will continue to drop – so who can blame them for waiting?  But without a buyer at the bottom of the chain then vendors are unable to buy, and as a result we’re left with lots of houses on the market and not a buyer to be seen.
As with all sales, supply and demand needs to stay in balance to keep the status quo.  If supply goes down then demand increases and prices are forced up, and unfortunately for some of us vice-versa also applies. This gridlock is one of the reasons why house prices are dropping and as a result most of us are watching our equity disappear.  
If houses prices continue to fall then first time buyers and investors will continue to wait, irrelevant of whether banks start lending or not.  And this is the vicious circle that depicts the property market we are in the heart of today.
Solutions?  Well, there’s always the golden rule of ‘Presentation and Price’.  The importance of fantastic presentation and realistic up to date pricing has probably never been so strong, then at least if there is a buyer in your neck of the woods you stand a higher chance of netting them in.  Anything else you can do?
Home swap?  Part exchange?  Loop build?  They’d certainly relieve you of the need for a first time buyer -  in fact, for those of you looking to both sell and buy this is your answer!  The parties involved can agree the transaction price between themselves to keep mortgage figures and stamp duty* payments sensible, then instruct solicitors as normal and often the transaction will run more quickly and smoothly than the traditional process.  Whatever your situation, whether you are looking to upsize to a house, downsize to a flat, release equity, move into a bungalow, have a fresh start or move to a new area, there are lots of other people with lots of their own reasons for moving and maybe one of them has the perfect match for you.  It's always worth finding out!
The Exchange List is a new directory that introduces you to vendors who are keen to swap properties, negotiate a part exchange or chain/loop build.  Whether you are an estate agent or a private seller just find a suitable property, check what that vendor wants to buy and either arrange a straight swap/part exchange or start building a loop of buyers to get a group of you moving at once.  You can register your property/properties for free for 3 months if you add your details before the end of 2008 or advertise your company on our site for just £10 per week until the end of January 2009. For more info see http://www.theexchangelist.com and take control in today’s market!
Christina Barratt
Partner of The Exchange List
*Normal stamp duty rules applies, the loop hole in the law which meant property exchangers paid less tax has sadly been changed!