If you have a need to sell property fast it can seem a little tricky in a slumping property market. In most areas prices have dropped significantly since their highs in 2007 and the trend looks to be continuing. Repossessed homes are starting to flood the market and, while first-time buyers can find plenty of homes to buy, securing financing has become much more difficult.
Property experts are warning that home ownership will never again be the sure-fire investment it became in the last half of the last century. Property values almost always rose year after year, providing the owner not only shelter for the family but also a safe and profitable investment for the future. But now that bubble has burst and some believe that in the future property values, at best, may only keep up with inflation.
With the exception of just a few areas in the UK, values of houses have been spiraling downward for the past few years. Home repossessions are on the rise and ‘for sale by owner’ signs can be seen almost everywhere. Homes to buy have never been more plentiful, although funding options have dwindled. This has caused a glut of houses available which, in turn, depresses home values even more.
The outlook for the future doesn’t look much better. Although there have been some indications the market might be turning this hasn’t been sustained. The National Institute of Economic Research has released a report forecasting UK houses will fall in value by 8% (in real terms) by the year 2015. Another report, by Capital Economics, suggests that, in the next two years, UK property values could fall by as much as 25%.
Reports like these will certainly have an impact on the real estate market. Selling your property now might seem like a good idea but many potential home buyers may be sitting on the sidelines, waiting for prices to drop even further.
If you need to sell your property quickly for one reason or another, home buying companies may offer the best option. Sell Property Fast – UK, for example, is one company who offers cash for houses anywhere in the UK and can complete the transaction in as few as three weeks time. They will make a guaranteed cash offer after only one viewing, enabling you to get more money and to get it more quickly. This may offer the perfect solution to your home selling needs. Check it out.