Charles Perrett Property ltd

Charles Perrett Property Ltd.

Swansea's National Award Winning Property Agency

Call 01792 652 620


Translate

Valuation Variations And Why Property Valuations Vary

21/11/2016 12:17

Tom Perrett  explains why property valuations may vary and how to get the right advice.

I think the property market has taken a real beating over the last few years.  I started the company in the depth of the recession and we’ve grown year on year by providing a strong service and valuing properties at a price they should be valued at and selling properties.

You could value a house at £300,000 which is worth £150,000 and you may even get a buyer. But when they come to bring their mortgage valuation in, there’s no way they’re going to lend on it.  It’s all about being realistic.  Now we’ve just had the EU vote which again has stalled the market a little bit, there’s a lot of uncertainty out there, everyone is saying the ‘doomsday’ and there’s going to be another recession.

I personally don’t think that’s going to happen.  In London you may get a 30% rise in house prices, in South Wales it’s going to be around 3%.  It’s not going to be massive but it is what it is so if you bought your house for £200,000 before the crash it may only be worth £200,000 or less now.  It doesn’t matter if you’ve put a £20,000 coy carp pond and swimming pool in that is what it will be worth. 

Professional Property Valutions

We may advise you to hang onto it if you’d like to, stay living there, enjoy it until the market recovers even more or sometimes a hard truth needs to be told and we’ll say ‘yes, you’re going to have to have a look at this, or try it at this and you may have to take that. 

And from a point of view of personal preference, everybody’s views are vastly different. We look at things and think ‘oh gosh’ but some people will say I absolutely love it.  So if you’ve pulled up every inch of grass in your back garden and replaced it with gravel because you don’t want to do gardening, fair enough.  But that’s not going to suit everybody. 

So sometimes, it’s not a personal attack by any means with applicants commenting on interiors or exteriors of properties.  It’s just personal taste. So we advise our clients to, though it’s their home and their castle, to actually think ‘look it’s not going to suit everybody’, take it with a pinch of salt. 

If they like it they like it, if they don’t they’ll go and have a look at something else and we’ll find you a buyer anyway.  So it’s a bit more about going a little bit hands off.  I know it’s difficult because you might have been there for 20 years as a family home, you might love your property; and it’s hard to hear other people’s negative opinions, especially when you don’t agree with them. 

But it is what it is.

More Information:

Charles Perrett Property Ltd
6 Walter Road
Swansea
SA1 5NF
Tel: 01792 652 620


Back to blog ....
Call Us today on 01792 652 620
Charles Perrett Property Ltd. 6 Walter Road, Swansea, SA1 5NF
Charles Perrett is an award-winning Swansea Letting Agent specialising in Student Accommodation in Swansea, Property Sales and Investments, Property Management, Property Maintenance Including Residential and Commercial Cleaning, Construction and Development and HMO Licensing Work.
Register now

receive the latest relevant information by simply registering with us.

© Charles Perrett Property Ltd 2017. All rights reserved. Powered by BaySoft

Blog | Sitemap | Terms & Conditions | Privacy Policy | Cookies Policy

Valuation Variations And Why Property Valuations Vary

21/11/2016 12:17

Tom Perrett  explains why property valuations may vary and how to get the right advice.

I think the property market has taken a real beating over the last few years.  I started the company in the depth of the recession and we’ve grown year on year by providing a strong service and valuing properties at a price they should be valued at and selling properties.

You could value a house at £300,000 which is worth £150,000 and you may even get a buyer. But when they come to bring their mortgage valuation in, there’s no way they’re going to lend on it.  It’s all about being realistic.  Now we’ve just had the EU vote which again has stalled the market a little bit, there’s a lot of uncertainty out there, everyone is saying the ‘doomsday’ and there’s going to be another recession.

I personally don’t think that’s going to happen.  In London you may get a 30% rise in house prices, in South Wales it’s going to be around 3%.  It’s not going to be massive but it is what it is so if you bought your house for £200,000 before the crash it may only be worth £200,000 or less now.  It doesn’t matter if you’ve put a £20,000 coy carp pond and swimming pool in that is what it will be worth. 

Professional Property Valutions

We may advise you to hang onto it if you’d like to, stay living there, enjoy it until the market recovers even more or sometimes a hard truth needs to be told and we’ll say ‘yes, you’re going to have to have a look at this, or try it at this and you may have to take that. 

And from a point of view of personal preference, everybody’s views are vastly different. We look at things and think ‘oh gosh’ but some people will say I absolutely love it.  So if you’ve pulled up every inch of grass in your back garden and replaced it with gravel because you don’t want to do gardening, fair enough.  But that’s not going to suit everybody. 

So sometimes, it’s not a personal attack by any means with applicants commenting on interiors or exteriors of properties.  It’s just personal taste. So we advise our clients to, though it’s their home and their castle, to actually think ‘look it’s not going to suit everybody’, take it with a pinch of salt. 

If they like it they like it, if they don’t they’ll go and have a look at something else and we’ll find you a buyer anyway.  So it’s a bit more about going a little bit hands off.  I know it’s difficult because you might have been there for 20 years as a family home, you might love your property; and it’s hard to hear other people’s negative opinions, especially when you don’t agree with them. 

But it is what it is.

More Information:

Charles Perrett Property Ltd
6 Walter Road
Swansea
SA1 5NF
Tel: 01792 652 620


Back to blog ....
Call Us today on 01792 652 620
Charles Perrett Property Ltd. 6 Walter Road, Swansea, SA1 5NF

Charles Perrett is an award-winning Swansea Letting Agent specialising in Student Accommodation in Swansea, Property Sales and Investments, Property Management, Property Maintenance Including Residential and Commercial Cleaning, Construction and Development and HMO Licensing Work.

Sitemap | Terms & Conditions | Privacy Policy | Cookies Policy

© Charles Perrett Property Ltd 2017. All rights reserved. Powered by BaySoft