What steps are taken to sell a house in Scotland?
Selling a House and Home in Scotland What steps are taken while selling a house? Do you have any questions about the selling process or whereto start when it comes to your home? Here, the fundamental procedures forselling a house in Scotland are looked at. 1. Obtain a home valuation The first step in selling your house is to find out how muchit is worth. To find out this information and start the selling process,arrange a free property appraisal right away. In Scotland or Lanarkshire, agents can now visit your houseand provide a property appraisal by demonstrating a value for your property. Ifyou would prefer, our estate agents can conduct a virtual property appraisal inorder to provide a valuation without physically seeing your house. A propertyvalue performed in person, however, is more precise. Contact us to find out more about the valuation services thecompany could offer. 2. To sell your home, use a real estate agent. After requesting them to offer a property valuation inScotland or Lanarkshire, you must choose a selling agent to assist you throughthe following parts of the selling procedure. A great way to assess what eachestate agency has to offer and their advantages is to have your home valued bya few different agents. Because Lanarkshire Law Estate Agents also has a sisterfirm, Lanarkshire Law Practice, that offers all legal and conveyancingservices, they are able to handle the entire selling process, from marketingthe property to handling the legal transaction. They also have a duty to provide you with the best customerservice they can and to be informed about any changes to the laws andregulations governing the sale of real estate in Scotland and Lanarkshire. 3. Consider your lending options. Before deciding to sell your home, it's a good idea toevaluate your financial situation. By getting independent mortgage advice, youcan decide on your mortgage and the best options. We have a specialrelationship with AL Mortgages, a Bellshill-based company. 4. Prepare your home for sale. Before putting your house on the market, you should makesure it is in the greatest condition possible. If any modifications or repairs are required, get on itimmediately away! When viewing your house, attempt to put yourself in the shoesof a potential buyer. Your agent can also provide you with guidance in thisregard. 5. Purchase a Home Report Before putting your house on the market, you must have ahome report. Your agent will help make the necessary arrangements for thesurveyor who will carry out part of the Home Report's tasks. A Property Questionnaire that asks general questions aboutyour property, a Single Survey that provides details about its condition, avaluation and accessibility audit, and an Energy Report that rates your home'senergy efficiency are all included in the Home Report. A surveyor will need to come to your home in order togenerate the House Report. To inform you of any additional health and safetyprecautions they are taking in light of the coronavirus epidemic, they willlikely get in touch with you beforehand. 6. Hold Viewings Potential buyers will visit your home once it is posted forsale to decide if it is a suitable fit for them. Viewings can be done in twoways: 7. Dates for Accepting Offers and Closing If a buyer wants to buy your house, they will submit anoffer or a formal statement of interest. Your agent will represent you in anynegotiations on the selling price and other topics, such as the date ofentrance, whether you want to accept their offer or counter it. If they make anoffer, you have the choice of accepting it or making a counter offer. A buyer formally expressing interest in a property andrequesting the opportunity to make an offer before it sells by submitting aletter of interest. If one or more notes of interest have been made on theproperty, a closing date may be set, at which point all offers must besubmitted. However, the legislation does not mandate that a closuredate be specified. Your lawyer can provide you with more advice in this regard. 8. What is the price of selling a house? There are many costs to be aware of when selling a home inScotland, including estate agency commission or fees, additional marketingcosts, getting a Home Report, home repairs, and subsequent relocation costs. There are two types of estate agent fees. 1. Fixed Cost 2. proportion of the sales price These things must be considered when making a budget,especially if you want to purchase a new house. You can use this to determinehow much you can spend. Your selling agent might be able to clarify the variousmoving costs. 9. Is a solicitor required to sell a house in Scotland? Yes, legal counsel is required for settlement and titletransfer. They promise to uphold your rights and ensure that all legalcriteria are met. A conveyancing team is headquartered in the office ofLanarkshire Law Estate Agents, which is a sister business of Lanarkshire LawPractice. 10. Property taxes in Scotland Selling a home is tax-free, but paying Land and BuildingsTransaction Tax (LBTT), Scotland's equivalent of Stamp Duty, may be necessarywhen buying one. The cost will depend on how much the property you are buyingis worth. Your attorney can provide you more information and help youdetermine how much this will probably cost you. Use our LBTT calculator to getan idea of how much you'll have to pay. Other typical queries How quickly can my house be sold? Your lawyer will be able to give you further details on thissubject. Different homes and locales have different selling times. To get anindication of when goods are likely to sell in your area, use our exploreplaces tool or contact an ESPC representative. Is it permissible to sell a house before paying off themortgage? You can sell your property prior to paying off your mortgagebecause you can utilise the funds to do so. If you're on a fixed-term contract, you might have to paypenalties to leave before the end of the term even though you might be able tomove your mortgage to another property. It is advised that you speak with a trained independentmortgage consultant or specialist who can help you decide what course of actionis appropriate for you. Do you need a home report to sell a house in Scotland? In most cases, it is legally necessary to acquire a HomeReport for a house in Scotland if it is known that it is up for sale. Theestate agent for your solicitor will be able to help you set up a Home Reportand walk you through the cost. It might be difficult to decide whether to sell your housebefore you buy or buy before you sell; each has benefits and drawbacks. Youshould speak with your solicitor estate agent on the best course of action asthey will guide you through both the buying and selling processes. Contact our Estate Agents today on 01698 441222 agent todayto get a free property evaluation and begin the process of selling your house sales@LanarkshireEstateAgents.co.uk
Turn your clutter into cash
The first thing I always notice when I walk into a house is the amount of clutter there is. We are a nation of secret and sometimes not so secret hoarders. It's rare for me to visit a home that is completely clutter free. If the surfaces are empty I can nearly always guarantee that there will be at least a couple of overstuffed cupboards. I understand, I like stuff too, but as an estate agent I know that clutter doesn't sell. Yet even though we know that, even though we all revel in the minimalism of hotel rooms, we fail to manage to declutter when we get back home as most of us cannot bear to part with our stuff. However, there is something that may motivate you to do just that. What if I told you that the stuff that is at the back of your wardrobe, the stuff you haven't used let alone seen for years could actually help you to pay your rising energy bills or contribute towards a well-earned break in the sunshine? Plus we all know that second-hand items are good for the environment as they reduce the amount of things that go to landfill. So decluttering can be good for your home, your wallet and the environment! So where do you begin? Research Gone are the days when eBay was your only option for selling your unwanted items. Now there are a whole range of sites, some of which specialise in certain items such as Vinted or Depop where you can sell clothes and accessories. Facebook marketplace can be a great way of selling items without having to pay any commission as can local sites like Nextdoor. Be honest If there is any damage to your item it is better to be upfront about it rather than have it returned to you. Make sure the price is right Be sensible when you are setting the price. Just like when you are selling a property, if you set the price too high then there will be little interest and then your item will be further devalued when it sits unwanted on the selling site for ages. However, you also don't want to set the price so low that it simply isn't worth your time and effort to sell it. If you do think your item isn't worth selling then try putting it on a site like Freecycle. You won't benefit financially from selling it but you will be stopping it from going to landfill so there is a feel-good reward. To save yourself and the buyer time haggling if there is any damage then reflect this in the price. Photographs Taking lots of photographs will reduce the amount of time and the number of "no thanks" that you will get when selling an item as 'collection only'. It will also increase your chances of selling your items online as people like to see clearly what they are purchasing. It will also reduce returns. To increase your chances of a swift sale, just as when selling a property, good photographs are essential. Keep the background clutter free, make sure that the lighting is good and ensure that you take photographs from several angles. If you are decluttering in order to sell your home and would like some advice or a free no-obligation valuation then please do give us a call on 01698 441327.
How to Sell Your Home Fast
Tips and Tricks on How to Sell Your Home Fast Selling a home can be a long and stressful process, especially if you need to sell fast. Whether you're selling due to a job transfer, financial reasons, or you simply want to move to a new home, there are a few things you can do to help your home sell as quickly as possible. 1. Work with a good friendly estate agent If you're looking to sell fast, one of the best things you can do is work with a good estate agent. They'll be able to help you determine a fair asking price, list your home on MLS, and market your property to potential buyers. Looking for a great estate agent contact us now 2. Make your home more appealing You only have one chance to make a great first impression, so take some time to make sure your home is looking its best. This may mean power washing the exterior, planting some flowers in the front yard, or giving the inside of your home a fresh coat of paint. The key here is to focus on the big impact items that have the lowest costs to remedy. Painting rooms or decluttering can have a massive impact on viewers within the property. Even something as simple as cutting the grass or weeding your path can give great first impressions. 3. Be flexible with showings The more flexible you are with showings, the more likely it is that your home will sell quickly. If you're only available for showings on weekends or in the evenings, you may end up waiting longer to find a buyer. At Lanarkshire Law Estate Agents we can show people around your home to take the stress out of doing this yourself. on average we find that by the estate agents showing people round your property we can achieve an offer on your property within 10 days compared to 23 days on average when the homeowner conducts their own viewings. 4. Stage your home Staging is when you choose furniture and decor that will appeal to potential buyers and help them visualize themselves living in your home. This can be anything from rearranging your existing furniture to renting pieces from a staging company. 5. Be prepared to negotiate Once you receive an offer on your home, be prepared to negotiate. If the offer is significantly lower than your asking price, try counteroffer with a price that's closer to what you were hoping for. However, don't be too inflexible; if you're not willing to negotiate at all, potential buyers may look elsewhere. 6. Have realistic expectations When listing your home, it's important to have realistic expectations about how long it will take to sell and how much money you'll ultimately make from the sale. Work with your real estate agent to come up with an appropriate asking price and timeline for selling your property. 7. Get rid of smells The single largest turnoff for potential purchasers is offensive odours. Fix the source of the odour rather than just covering them up. Clean out trash cans, unclog drains, open windows, air out the kitchen of odours from previous cooking sessions, throw out cigarette smoke-stained furniture, and wash any soiled bed sheets. Place basins of vinegar about the house and leave out for three days if you smoke. Although the vinegar smells when the windows are opened, it quickly dissipates, carrying most of the stale cigarette odour with it. Conversely, good smells can make a property feel more welcoming. Even though it could not be feasible to bake fresh loaves of bread, cakes, or brownies for every visitor to your home, you could possibly make some fresh coffee. In Summary Selling a home doesn't have to be difficult; by following these tips, you can have a better chance of selling quickly and without too much stress. If you are stressed then there is lots of websites that can offer help Selling a property can be really tough- specially if time is not on your side! but don't lose hope! There are things that YOU can do in order guide yourself through this process smoothly while also ensuring that everything happens in according timing! following these simple steps can result in smooth sale!!
Are qualifications or experience more important when choosing an estate agent?
Studies have shown that most people have already chosen the agency they are going to use to sell their home before the agent even sets foot in the property to do a valuation. So what is it that makes them decide on that agent, what can cause that agent to lose the potential listing and what should you be checking at a valuation? Many people take years to get from the stage of considering selling their home to actually putting it on the market. In that time they will have been observing the behaviour of their local estate agencies. How many for sale boards do they have around town; how quickly do those switch to sold signs; which agency is the largest; which one is most involved in the community or most active on social media. All of these things contribute to the near foregone conclusion as to which agency they will choose to go with on valuation day. Then finally the day comes when the decision is made to sell. The average number of valuations that a seller will request before selecting an agency to go with is three. The agents turn up one by one. Logically it would make sense that two really need to wow the seller to change their mind and the third simply needs to not do anything to put them off. However, both of those things are easier said than done. The reason is because while many people decide upon an agency to go with before a valuation they are actually just as likely to go with one of the other agents as they are to go with the one that they have chosen prior to them arriving. So is it because of their qualifications? Qualifications are always a good thing as you will know that they have taken the time to study and pass exams on the subject of selling property which you may find reassuring if you choose them to sell yours. However, good grades don't necessarily indicate that they are a good estate agent. Is it their experience? If they have been an estate agent for a while they will certainly have lots of experience dealing with any scenarios or problems that may arise while they are selling your property. It may make you feel comfortable to know that they have the knowledge and the experience to guide you through the home selling process. However, the length of time spent in a job doesn't necessarily indicate that they are skilled at it. Is it your gut feeling? A little bit yes. After all if you don't like them then you certainly won't want to be dealing with them for several months! You also don't want potential buyers being put off by a surly estate agent! However, none of those things actually demonstrate that they are the best agent to sell your property. Instead ask them about their marketing plan. How will they be ensuring that your property is seen by the maximum number of potential buyers? How will they be helping you to ensure that your property is sold for the best price possible? Ask them about local properties that they have sold and ask how long they were on the market for. Treat your valuation appointment like an interview to make sure that you select the best agent for the job of selling your home then go with the agent whose plan you think is best. If you would like a free no-obligation valuation of your home and the chance to ask us why we think we are the best choice to sell your property in Lanarkshire please give us a call on 01698 441327 and we will be delighted to help.
September 2022 Property Market Report
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.The children are all settled back at school and the changing weather leaves us in no doubt that Autumn is definitely here. September is always a month of new beginnings. With Christmas just around the corner many people start to think about whether their home still works for their family. The rising interest rates may be causing pause for thought but life continues, despite the rising cost of living and people will always need to move home; sometimes because of, and sometimes in spite of, the financial climate. Let's have a brief look at what's been happening over the last month in the local property market around Lanarkshire. There are currently 707 properties available on the market in the area. The month prior there were 681, with 573 in July, and 557 in June. The increasing numbers of available properties is perhaps indicative of the heat having left the market as properties aren't getting snapped up as fast as they were. Things are started to calm back down to normal levels and there is now more choice once again for buyers. There are also more properties coming onto the market each month. In June there were 345, July 348, in August 369 and in September 376. This could explain the higher number of available properties as there were more to choose from. In September 355 sales were agreed, in August there were 364, in July 289 sales were agreed and in June 317 sales were agreed. As more properties come to the market, more sales are happening. Although the media has been talking about the market cooling, the local facts are that there is still a lot of activity. There were 26 price reductions in June and in July we saw 30 price reductions across the Lanarkshire property market as a whole. In August, this number jumped up to 51. There were 44 price reductions in September. This could imply that some sellers' or agents' expectations of what the market is prepared to pay are not in line with the reality. In September there were 81 slow movers in the Lanarkshire area. This means a property that has been on the market for 12 weeks or more. This could be due to the market returning to more normal levels but expectations still being at the peak levels. In August, there were 71 slow movers. In July, there were 49 slow movers on the market and in June, there were 53. Slow movers can often be due to the 3 Ps - presentation, promotion, or price. We are proud to be in the top 5 agents in the area with the smallest numbers of slow movers. Choosing the right agent for your property can make a very real difference to achieving your moving plans. In June, each property in the Lanarkshire area had average daily views on Rightmove per property of 223. In July this figure was 189. In August, this number jumped back up to 221 and in September it has settled back to 186 . This shows the high levels of activity in the local Lanarkshire property market, which are likely to increase or at the very least, remain strong in the final quarter of the year. If you're looking for further information about the Lanarkshire property market, or if you're thinking of selling or buying in the area, please don't hesitate to get in touch. You can call 01698 441327 or email sales@lanarkshireestateagents.co.uk.
October Marketing Report 2022
The leaves are falling, the clocks have gone back and children, still hyped-up on sugar from their Halloween trick or treating, are now looking forward to this weekend's fireworks displays. November brings with it darker mornings and chillier nights and so comes thoughts of Christmas and the New Year. This inevitably focuses the minds of those who have been considering moving, as they consider whether their homes are too small or indeed too large for their needs. The looming New Year sparks thoughts of new beginnings and new homes so, despite the doom and gloom in the papers, life continues. People still move home and the property market continues to be busy.Let's have a brief look at what's been happening over the last month in the local property market around Lanarkshire.There are currently 687 properties available on the market in the area. The month prior there were 707, with 681 in August and 573 in July. The increasing numbers of available properties is perhaps indicative of the heat having left the market as properties aren't getting snapped up as fast as they were. Things are started to calm back down to normal levels and there is now more choice once again for buyers.There are also more properties coming onto the market each month. In July there were 348, in August 369, in September 376 and in October 299. This could explain the higher number of available properties as there were more to choose from.In October 271 sales were agreed, in September there were 355, in August there were 364, and in July 289 sales were agreed. As more properties come to the market, more sales are happening. Although the media has been talking about the market cooling, the local facts are that there is still a lot of activity.In July we saw 30 price reductions across the Lanarkshire property market as a whole. In August, this number jumped up to 51. There were 44 price reductions in September and 54 in October. This could imply that some sellers' or agents' expectations of what the market is prepared to pay are not in line with reality. In October there were 90 slow movers in the Lanarkshire area. This means a property that has been on the market for 12 weeks or more. This could be due to the market returning to more normal levels but expectations still being at the peak levels. In September there were 81, in August, there were 71 slow movers and in July, there were 49 slow movers on the market. Slow movers can often be due to the 3 Ps - presentation, promotion, or price. We are proud to be in the top 5 agents in the area with the smallest numbers of slow movers. Choosing the right agent for your property can make a very real difference to achieving your moving plans.In July, each property in the Lanarkshire area had average daily views on Rightmove per property of 189. In August, this number jumped up to 221, in September it settled back to 186 and in October it fell to 149. This is not unusual for this time of year with many families busy over half term and focused on Halloween activities and Bonfire night. The high levels of activity in the local Lanarkshire property market are likely to increase or at the very least, remain strong in the final quarter of the year.If you're looking for further information about the Lanarkshire property market, or if you're thinking of selling or buying in the area, please don't hesitate to get in touch. You can call 01698 441327 or email sales@lanarkshireestateagents.co.uk.
Avoid the Spring Rush
Many people wait to put their properties on the market until Spring believing that the housing market becomes more buoyant at that time. However, there is an abundance of people who due to New Year's resolutions, marital breakdowns (January traditionally has a higher rate of divorce than any other month) and those who simply decide during their festive break that they would like to upgrade their home, who are looking to purchase properties after the New Year. That means that there are a large number of people looking for a property at the beginning of the year so there is an opportunity for those who choose to list their property in January or February to avoid the increased competition amongst sellers that occurs during the Spring Rush. Increased competition during the Spring Rush means that many sellers discover that more choice on the market leads to lower sales prices so how can you seek to make the most of the early months of the year to sell your property before the Spring Rush begins? Arrange viewings for during the day Shorter days means less of a window to show your house off in the best light, daylight. If possible, arrange viewings during the day and make sure that your windows are clean and your curtains wide open to allow as much light as possible to come into your property. If it isn't possible to schedule viewings during the day ensure that your property is well lit and welcoming. Don't forget about your garden/outside spaces The pandemic has affected our choice of homes. A survey of 2000 people at the end of 2020 by Market Financial Solutions Ltd found that 92% of the people surveyed agreed that having a garden or some outdoor space was the most important factor for them when buying a property. This replaced square footage which was the most important factor the year before. Make sure your outside areas are looking their best by tidying away clutter, cleaning outside furniture and pathways and considering planting some winter flowering plants to inject some colour. If most of your viewings are outside daylight hours consider adding lighting in order to show your garden/outside space off even when it's dark. Heat your property It may be cold outside but you want your potential buyers to feel like they are coming into a warm and welcoming home. Ensure that all the rooms in your house are sufficiently heated during viewings including spare bedrooms and bathrooms. Choose the right estate agent It is important not to overprice your property or you will be left trying to sell a property that has been on the market a while, always less desirable in buyers' eyes as they presume there is something wrong with it when the Spring Rush starts. A good estate agent will guide you through the property selling process and help you to put your property on the market for the right price, not too high and not too low.
Getting your property market ready
Many sellers put off tackling jobs around their homes as they believe that buyers like to change things when they move in. However, this is a false economy that may both delay your sale and affect the price that you get for your property. There are people who are looking for a fixer-upper but they expect their willingness to spend time doing up the property to be reflected in the price of that property. A run-down property can also give the impression to potential buyers that you do not take care of it and will leave them wondering what larger problems are lurking unseen. So if you would like to get the best possible price for your property it can pay to tend to any odd jobs before you put it on the market. Kerb appeal The exterior of your house is the first thing potential buyers see and first impressions matter. Make sure your front door is free of any dents and that the door handles are in good condition. Make sure your front garden is tidy and that the latches and hinges on any gates are well-oiled and in full working order. Ensure that your roof doesn't have any broken or missing tiles. Interior Repair any nail holes in your walls and if they are looking tired consider treating them to a fresh coat of paint. Make sure your flooring is in good condition, and replace chipped or cracked floor tiles and any damaged carpet. If you have pets, having your carpets steam-cleaned can be a great way of freshening them up. The right lighting can make even the smallest home appealing so take time to make sure all of your lightbulbs are working and fix any broken light fittings. Bathrooms and kitchens are the most expensive rooms for potential buyers to upgrade so it is no coincidence that updating them can have the greatest effect on your property's value. However, you don't need to install a completely new kitchen to make a difference. Fixing leaky taps and running toilets and ensuring built-in appliances are working properly can sometimes be all that is needed to spruce up your bathrooms and kitchen. Garden/Outdoor area Clear away any broken items like cracked plant pots and fix things like broken panes of glass in your shed. Living in our homes day in, and day out we can often become blind to small things that need fixing but, potential buyers who are looking at your home with fresh eyes will notice them. Asking a good friend or family member to take some time to walk around your property and point out things you may have missed can be invaluable. Alternatively, we are always happy to come and give you some advice on how you can ensure that your property is market ready, just give us a call on 01698 441327. If you don't have time or feel up to fixing issues yourself we have a list of trusted local handymen we can recommend.
How to make the most of your outdoor spaces in the Winter
Even in Winter you can make the most of your property's outdoor space and getting on top of small jobs now means that it will be ready for you to enjoy in the sunshine whenever it arrives. Weed and tidy up The first step towards making your outdoor space attractive to potential buyers is to make sure that it is clean and tidy. Tidy up any areas that have become neglected, remove any weeds and neatly trim any grass. Remove moss from paths, sweep up leaves and clean outdoor furniture. Add some colour We think of Spring as the time that our gardens come to life and colours bloom. However, there are lots of plants that bloom happily during the winter and can add colour and fragrance to your garden. A combination of colourful pots and some Winter flowering plants can really brighten up your space, especially when contrasted against green evergreen bushes. The following are a selection of our favourite winter flowering plants to brighten up your garden or outdoor area: winter cherry witch hazel early flowering daffodils winter honeysuckle Christmas rose pansies daphne snowdrops and winter clematis. Area to entertain Whilst socialising in the garden has traditionally been a summer activity, the pandemic has meant that more and more of us are choosing to create areas that are suitable for socialising outside all year round. A suitably-placed fire pit or chiminea can provide essential warmth on cold evenings. A gazebo can provide both shelter from the sun in Summer and rain in the Winter. The addition of a few fairy lights, blankets and waterproof cushions can create an enviable space for you to enjoy and for prospective buyers to desire. Tidy up your outbuildings As the first chill of Autumn settles over our gardens it is tempting to simply throw garden furniture, toys and other summer accessories into our sheds and other outbuildings and close them up until next year. If you are trying to sell your property it is important to remember that these outbuildings are a part of the property that you are trying to sell so should be as tidy and as well maintained as your house in order to maximise your sale price. Take the opportunity of a quiet weekend in January to sort through these outbuildings, declutter if possible in order to create the impression of space. If any maintenance is required, for example a new coat of paint or fixing a window, it is a good idea to sort these before potential buyers view your property. Attract wildlife During the cold winter months when their food sources become scarce our local wildlife really benefits from a helping hand from us. As their natural food sources decline in Autumn and Winter birds are more likely to visit bird tables or bird feeders than at other times of the year. In return for a ready supply of nuts and seeds they provide us with a colourful and entertaining display as they flit around our gardens. Bird feeders ensure we can enjoy this display from inside our houses as well as outside and the feeders themselves can also be an enjoyable decorative addition. If you would like more advice on how best to present your outdoor areas to potential buyers during the Winter months please do give us a call on 01698 441327.
December 2022 Market Report for Lanarkshire
The Christmas holidays and the dawning of the new year often bring changes to many. The realisation that their home is no longer right for them, wanting to move for a better lifestyle, family breakdowns or new additions. It can be a great time of year to sell your property because those house-hunting in January tend to be serious about their move. The Spring Rush can bring many more "would be nice to move" situations whereas people now are more likely in the "have to move" camp. Let's have a brief look at what's been happening over the last month in the local property market around Lanarkshire. There are currently 568 properties available on the market in the area. The month prior there were 620, 687 in October, 707 in September and 681 in August. Things have now calmed back down to normal levels for the first time since the beginning of 2021 and there is now more choice once again for buyers. The number of properties that came onto the market in December, 153, was noticeably lower than during previous months. This was to be expected as December is usually the least popular month for sellers to put their properties on the market due to festive commitments. Prior to December there were a steady number of properties coming onto the market each month. In August there were 369, in September 376, in October 299 and in November 219. This explains the high number of available properties as there are lots to choose from. In December 135 sales were agreed. In November there were 265, in October there were 271, in September there were 355 and in August there were 364. The noticeable drop in December is normal and is not indicative of a long-term dip in the local property market. It is reflective of the effect of this time of year on buyers' priorities. The local facts are that there is still a high level of activity in the local property market and we expect the first quarter of 2023 to be as busy as normal. In August we saw 51 price reductions across the Lanarkshire property market as a whole. There were 44 price reductions in September, 54 in October and 81 in November. It fell to 30 in December which was likely to be caused by sellers waiting for the market to pick up again after the normal lull in December rather than choosing to reduce the price of their property. In December there were 182 slow movers in the Lanarkshire area. This means a property that has been on the market for 12 weeks or more. This could be due to a combination of the market returning to more normal levels but expectations still being at the peak levels and the effects of Christmas festivities on buyers' priorities. In October there were 90, in September there were 81 and in August, there were 71. Slow movers can often be due to the 3 Ps - presentation, promotion, or price. We are proud to be in the top 5 agents in the area with the smallest numbers of slow movers. Choosing the right agent for your property can make a very real difference to achieving your moving plans. In August, each property in the Lanarkshire area had average daily views on Rightmove per property of 221. This is the average of the top ten agents in the area. In September this dropped to 186, in October it was 149 and in November it settled down to 129.2. In December it dropped to 76.5. This is highly typical for this time of year with commitments over the festive period taking precedence over house hunting for many buyers. The levels of activity in the local Lanarkshire property market are expected to return to their normal high levels in the first quarter of this year. Average daily views per property on Rightmove for properties listed by Lanarkshire Law were 83.4 in December which was 9% higher than average. We are pleased to be consistent in achieving higher than the average again for our clients. It shows the difference your estate agent can make when it comes to attracting the right buyer to your property. If you're looking for further information about the Lanarkshire property market, or if you're thinking of selling or buying in the area, please don't hesitate to get in touch. You can call 01698 441327 or email sales@lanarkshireestateagents.co.uk.
How to make moving home fun for children
Children often feel anxious when they are told that they are going to be moving home. They are concerned about whether they will like their new home, whether they will be able to see their friends, and whether they will have to change schools. Like all of us, they simply need to be able to talk through their worries and get some answers to their questions. Taking time to sit down with them and listen to their worries and opinions is the best way to help. Chatting in the car can be one of the best places for these sorts of chats, especially with teens. Giving your children some autonomy over decisions such as the colour you are going to paint their new bedrooms and the furniture they would like to put in them can help to give them a sense of control. This can help alleviate the anxiety they may be feeling about moving somewhere new. Taking your children on a viewing to see their new home can be very helpful. It gives them the impression that they helped choose which property they will live in and allows them to visualise where they will be moving to. However, if at all possible, avoid taking them on the first viewings. This allows you to concentrate on looking at the properties and avoids the possibility of your child falling in love with a house while you do not! Once you have had an offer accepted on a property, it can be a lovely idea to take your children on a tour of the local area. That way you can all find out where all the local parks are, where a nice cafe is, and if there are any exciting activities nearby. This will help turn a worrying experience into an exciting one, as they already know where some things are, so moving home doesn't feel so daunting. Make sure on moving day that you pack their most important belongings into a bag that they can keep with them. That way even when the moving truck is unloaded at the new house and they are surrounded by boxes they will still be able to cuddle and play with their favourite toys without having to worry about which box they are in. We at Lanarkshire Law are always delighted to help your children in finding their new home. If you would like us to help you in finding the perfect new home for your entire family, please give us a call on 01698 441327 or send us a message.
Pension vs Property
Rising mortgage rates, increasing regulatory pressure to improve the EPC ratings of their rental properties, and the prospect of paying increasing amounts of tax under government plans to cut the capital gains allowance have caused many landlords to consider selling. However, yields in the property sector are still competitive compared to the income that can be drawn from a traditional pension. The average gross yield on a new buy-to-let purchase is 6%, according to a recent survey. By contrast, a typical pension pot in drawdown has a target rate of 4%. Mark Harris, of SPF Private Clients, said, "Demand for rental property is unlikely to fall anytime soon, with more people having to rent for longer because they can't afford to buy, the need for good quality rental property at a reasonable price is higher than ever...what's more, with a number of landlords selling up because the increased tax and regulatory burden has become too much, demand is only going to grow. If the rest of your investments have been in stocks, bonds and cash, it is good to have some exposure to bricks and mortar." A fall in house prices could also work in favour of investors who are looking for an opportunity to invest in a rental property. When house prices fall, it pushes up rental yields. Mr Harris added "Buy-to-let benefits from capital growth over the long term," he said. "This means you can enjoy a regular and fairly predictable income, but also eventually benefit from capital appreciation should you decide to sell up and bank the profits." As analysts at Deutsche Bank predict that if the American economy enters a downturn, stock markets could still fall a further 25%, workers nearing retirement need to think carefully about where to place their funds in order to maximise their returns during their retirement years. If you have been considering investing in a buy-to-let property and would like to discuss how the current market will affect your investment, please give us a call on 01698 441327 or send us an email sales@lanarkshireestateagents.co.uk and we will be happy to discuss your options with you.
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