27 July 2020

Opportunity is Knocking for the Retford Property Market

Retford Property Blog

“Life is a Game” is a quote attributed to Mother Teresa, but it could be easily applied to property.

And as with all games, there are winners and losers. But here in the property market we have a genuine opportunity to see a win win situation for buyers  and sellers.

Timing always plays a part in how successful you are, as does having a talented estate agent working on your behalf to get you a winning result.

The announcement earlier this month that Stamp Duty for properties under £500,000 is eliminated until 31 March 2021, means there’s now plenty of opportunity knocking on the doors of homeowners in Retford

Buyers can save up to £15,000 during this window.

Opportunity Knocks

Depending on what source you look at, it takes on average (from a cold start) between 151 to 200 days to sell a home.

This means the opportunity clock is now ticking before that 31 March deadline.

The Stamp Duty holiday means:

·       Deals that were dead in the water over a difference in the value buyers and sellers were prepared to accept (especially between £15-30,000) are now potentially resurrected.

·       Having more to put down as a deposit is opening more of the mortgage market to buyers.

·       The decision by several lenders to reintroduce 90% Loan to Value mortgages helps more people get on the property ladder.

If you’re thinking of selling, you’ll also benefit from the Stamp Duty removal if the next property you’re buying is also under the £500,000 bracket.

But it’s not enough to put your most valuable tax-free asset up for sale and hope the rising tide of a buoyant market in Retford helps you achieve the premium price for your property.

You also need to remember the following four things, which I’ve related to classic game shows to help you remember.

The Price is Right – Overvaluing a property will mean it sticks, no matter what the market is doing or if stamp duty has been put on hold. Pricing it correctly to sell at a premium price is a skill only experienced agents possess.

Through the Keyhole – When you are on the market, your property gets put under the microscope so prepare it thoroughly so that viewers will feel like it’s a place they’d love to call home.

Countdown – Remember that date – 31 March 2021 – The sooner you start marketing your property the better. The clock is ticking.

Bullseye – When you choose an agent with an excellent track record and fair fees who values your property correctly and can guide you on every aspect of the selling process, you’ve hit the bullseye. And you won’t be left thinking about what you could’ve ‘won.’

As The Good Estate Agent for North Nottinghamshire I provide a full marketing campaign for each property and keep working on the sales plan until a buyer is identified.

So, if you are interested to know how I can help you make the most of this ‘Stamp Duty Holiday’ window of opportunity, let’s talk.

Thanks for reading.

I’m always happy to help sellers, buyers, landlords and tenants

geraldbowers@thegoodea.co.uk

Tel: 01777 237310 or messages to 07981 744003

Follow me on Facebook

https://www.facebook.com/thegoodestateagentnorthnottinghamshire


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