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What
makes
us
by Jim Rotheram,
PRINCIPAL,
different?
Oakland Estates
average property purchaser should have no last nine to twelve months are unlikely to
difficulty in borrowing enough to fund his continue. Sellers who think that they can still
purchase. achieve these phenomenal prices will now
have to seriously reconsider their price if they
The real difficulty has arisen for the first time really want to sell. Houses that are not selling
buyer with insufficient deposit and for those and are continuously advertised week after
purchasers who previously may have been week must have something wrong with them.
able to borrow up to six or seven times their They are overpriced, in a poor location, badly
Don’t panic
salaries. These levels have indeed tightened presented, or do not offer the basic facilities
and a more realistic benchmark now is that a discerning buyer needs. It may be
Mr Mainwaring
around five times salary. Notwithstanding this worth replacing the kitchen (always a house
there can still be mortgages obtained at the seller!) or bathroom. A bright purple
higher needs but premiums will almost bathroom or dark kitchen do depress and
certainly be added to the rates. although the seller may think that it is fine for
them it is certainly not every ones ‘cup of tea’
The real good news is that interest rates are Garden tidiness and general outdoor
This year has certainly seen some amazing now rapidly reducing, and although not all of presentation is also vital as many a buyer will
‘ups and downs’ in the property market these reductions will be totally passed on to always ask if they can have the address before
causing, latterly, some real concerns in the borrowers, it is likely that with these a viewing to ‘’just drive past for a look’’
certain areas. ‘’What should I do?’’ ‘’What expected reductions it will help fuel a little
can I do?’’ and ‘’Where do I go from here?’’ strength back into the housing market. To summarise, the market is still there for the
seller and indeed for the buyer but really it is
Well ‘don’t panic ‘ is the real answer. The local Jersey has over the many years experienced a buyers market at present (what a change
press have caused concern with their recent large variations in property values and when from as little as only six months ago).
articles suggesting that mortgages are now difficult economic times such as we are
very difficult to obtain, if at all, as a result of experiencing just now arise, the strength of Houses will still sell and the money and
Jersey Home Loans announcing their pulling the property market is apparent. Prices will buyers are still there but you now have to be
out of lending for the foreseeable future.We not escalate to the increases that we have a little more particular to ensure that the
must remember that there are still many seen in the last year or so but they will not property that you have has that appeal to
banks still in this market and offering 90% and reduce either and I expect that they will now immediately interest the present very
even 95% loans to buyers.Yes, they are now stay stable and realistic for the next year to discerning buyer. Generally you only have
perhaps a little more cautious and their eighteen months. Those quite unbelievable that one chance with an interested
requirements a little tighter, but in general the sale prices that have been achieved over the purchaser.
“As house prices have been rising so strongly we
feel it only right that it would be unfair for Estate
Agents to gain so substantially to the detriment of the
client. We have decided, therefore, that from now
on and until further notice we will charge just 1%
commission on all future sales. Notwithstanding this
we will continue to offer that extra special service
that we have become well known for:
s 4OTAL COMMUNICATION THROUGHOUT THE SALES PROCESS
s ! VERY PERSONAL SERVICE WITH OUR 0RINCIPALS
s &REE VALUATIONS
s ,ISTENING TO YOUR VIEWS AND NEEDS
s -AXIMISE THE BEST ACHIEVABLE PRICE IN THE CURRENT
market conditions
s #OMPLETE CONlDENTIALITY
If this is what you require just call us at Oaklands and
see ‘how we run’. We look forward to your call’’
Oakland Estates, 31 Hill Street, St. Helier, JE2 4UA
Tel:
720072
www.oakland.je
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