Top Five Tips to Buying or Selling at Auction

Buying and selling at auction is a good way of finding and selling property fast. And if you are a seller in this current market, it could be a good way to secure a sale within weeks, which is especially worth knowing if you are worried about repossession or have found a property to buy and need to sell quickly.

Unlike buying/selling in the ‘open’ market, an auction allows buyers and sellers to find a ‘fair’ price without complex negotiations or ‘positioning’ negotiating that goes on when estate agents are involved. This is not to say that the agents are the cause – it’s actually buyers and sellers that play more of a game when there is a 'middle man' (or woman!) involved.

Follow Kate’s Top Five Tips to find out if buying or selling at Auction is for you.

Attention all Landlords – Act on Climate Change now and Save Money!

About....

Climate change is upon us, most scientists, weathermen and politicians around the world now agree. Even America and China, who have been slow to react are now taking climate change seriously and the man made cause - CO2 emissions, need to be brought under control.

As a landlord though, there are questions to be asked. Is it your responsibility or the tenants? After all it is the tenant that will benefit from savings in their utility bills, so surely they should take the financial burden? Haven’t Energy Performance Certificates already proved that tenants don’t really care about how energy efficient a home is? After all, they rarely ask to see one, as long as the property is the size they want, in the location they want and at a price they can afford.

Why should landlords bother? Read on to find out ....

Legal and Tax Implications of Inheriting a Home

Losing a loved parent can be really tough and I know that one of the things I really struggled with when my father died, was dealing with all the paperwork and the legal bits and pieces afterwards.

So I thought it might be useful to write a quick Q&A on what you need to be aware of when inheriting a property – either as a single child or if you have brothers or sisters. Please note these answers have been given with the help of Bridge McFarland Solicitors.

Read on to find out the Legal and Tax Implications of Inheriting a Home.

Should you buy, sell, rent, renovate or build in 2010?

2008 delivered a disastrous year to the property market with funds disappearing, buyers losing all confidence, developers almost going bust and sellers struggling to get viewings let alone sell!

For some, lack of a deposit to buy or unfortunately being temporarily in negative equity may stop some people from moving. However for many, 2010 will bring some clarity to which direction the property market will go. And of course for those that are considering renting, the picture is already clear: most rents are going up!

For self builders and renovators, this year has been one of the best. With land prices dropping, a significant increase in the number of available building plots, great offers and deals on building materials, coupled with the availability of low deposit finance, it’s never been a better time to build or renovate!

So, whether you're a buyer, seller, renovator, self builder or renter, here are my top tips for anyone thinking about carrying out a property project in 2010!

Do properties in high performing school areas cost more?

Since league tables were introduced in 1992, there have been many reports suggesting that you would pay up to a 34% premium for properties in high performing school catchment areas!

Back in October 2007, Savills' research suggested that prices for property in poor performing school areas led to properties being worth 10% less than other homes, 13% more for good state schools and up to 15% more for good private schools.

So has the recent house price crash made a difference to premium prices for good schools? Nationwide have issued a recent report that suggests not.

What does it mean for all those mums and dads, buyers who can't afford to live near their favourite school or those who don't have kids at all?

Buy to Let In Peterborough

I find it really strange that when a property investor wants to expand their portfolio or buy their first investment property to let, they turn to property sourcing companies that will charge you thousands of pounds to source a property but won't give you your money back if you cannot rent it out at the income levels they suggested.

Fortunately for all you budding buy to let investors, Terry Lucking owner of Belvoir Lettings Peterborough, Corby and now Cambridge is running a FREE Buy to Let Seminar about the investment potential of Peterborough.

Did you know that Peterborough is only 45 mins from London, has an average property price of just of £100,000 and is expected to expand its working population by 20,000 people by 2021! Visit the Buy to Let in Peterborough website.

If you are serious about investing in property or expanding your portfolio, don't miss this excellent event and don't forget if Terry finds a property for you it will only cost you £500 and he's the one that will have to find a tenant at the income level he suggested!

Why not go along to the Maximising your Buy to Let Returns seminar so you can meet some of Peterborough’s best property experts including:-

Steve Bowyer, Director of Opportunity Peterborough Terry Lucking, Award winning lettings expert and me!

Rental rates on the rise? Overview of the rental market 2009-10

Despite the number of people buying a home falling by half in the last 12 months, we have heard little about a different property market that has rocketed from a volume perspective and is currently signalling a rise in prices is on the way.

This year it’s estimated that the private rental sector will top (two million people) in comparison to the number of people buying (and selling) a home which has fallen to only 6-700,000.

Normally when property prices fall as they did in 2007 and 2008, rents increase. This was true up until September 2008 when we saw a sudden rush of frustrated sellers take down their ‘for sale’ boards and raise a sign ‘to let’! This dramatic increase in private rented stock caused rents to fall across the UK, and in some cases properties to lay empty for the first time.

Although this hasn’t been great news for landlords, letting agents have benefited from a booming business – especially in comparison to their estate agent cousins. Tenants too had a great time, picking where and what they want to rent while negotiating some fantastic rental deals.

Read on for Kate's full overview of the rental market!

Watch out for Letting Agents Running off with your Cash!

With business for letting agents booming while income from estate agency has plummeted in the last 12 months, it’s important for both landlords and tenants to be aware that letting agents (unlike estate agents) are not regulated and although there are some great letting agents out there, there is the potential for them to run off with YOUR cash!

There have been a number of stories emerging in the last 12 months of estate agents who have turned to lettings to help cover their bills, then have got into financial difficulties.

Read on to find out what you should do to ensure your money is safe!

Should you buy before the stamp duty increase?

On 1st January 2010, the stamp duty threshold changes. So is it worth you completing before the end of the year? As a result if you complete on a home for £175,000 before 31st December 2009 you won't pay any stamp duty and from January 2nd (no-one will be working on New Year's Day!) you will pay 1% x £175,000 = £1,750 to the government in stamp duty land tax.

Read my thoughts on the stamp duty changes here ....

How to buy via an Estate Agent

Many people complain bitterly about estate agents. Some of the complaints are valid, some really aren’t fair. If you want to successfully buy through an estate agent it’s essential that you understand what information you give them, how to ensure they want to sell a property to YOU and that you know when an agent is telling the truth – and when they might be telling some porky pies!

Read my easy to follow guide to ensure you get the best service from estate agents!

Now IS the time to Build your Own Home!

Come on, 5 million of you watch Grand Designs when it’s on, yet only 15,000 people a year make the effort to build. Reasons given for not building are mainly ‘I can’t find a plot’ or ‘I can’t afford it’ or ‘I don’t want to build it myself’. Well the credit crunch has taken all of these reasons to NOT build your own home away!

So if you think you can't afford it or find a plot - read on to find out how you could build the house of your dreams!

HIPS – when will the politics stop?

I feel sorry for anyone dealing in HIPs. The idea is sound, have as much information as possible about a home before you make an offer, this way less sales are likely to fall through after the offer stage. But, even before they were introduced, the Royal Institute of Chartered Surveyors (RICS) mounted a legal objection, which was overcome. Now there is a major battle on with the Conservatives determined to scrap them if they come into power. Not only have they become a political football between Labour and Conservatives, they are also a dividing the property 'industry experts'.

Read on to find out what current HIPs arguments are raging ...

What to consider when investing or buying property overseas

Many people just ‘fall’ into buying property abroad. Either they go to a show and like the look of the fancy developer photos and get sucked in by the patter of the clever salesmen (usually ex time share sales people!) or they go on holiday, meet someone in a bar, get invited to a ‘free’ event and with little due diligence hand over tens of thousands of pounds. Don’t let this happen to YOU!

To ensure this doesn't happen to you, read my essential guide to buying a property overseas.

Thinking of Renewing your Home Insurance?

Let's face it, we all hate renewing our home insurance and when the renewal notice lands on the doormat, it's just not a very exciting thing to have to do! So how many people actually take the time to search for the best deal, and look at all the small print that relates to the dos and dont's of insuring one of the most valuable assets you own and all your prized possessions?

Find out how you can save some money on your insurance ...

Many would be interested in how to go about buying and selling property on for profit

Buying and selling property for a profit used to be ‘easy’. Through the millennium you could buy a property and be guaranteed it would make money in a few years and in some cases, a few months. Some people (and mortgage lenders!) seemed to think house prices would continue to rise, others warned of a housing bubble, but didn’t seem to be able to accurately predict when it would burst.

However, burst it did, starting in the States and hitting the UK very hard. The recession appeared to start in the property sector and within months we saw sales drop by 50% prices fall by 20% from a 2007 peak. Rental income which normally rises when house prices fall, has suffered with year on year falls of 5% or more, voids have increased as have tenant rent arrears.

To find out more, read on .....

When and How you should Sell your Property Investments

When investing, most people concentrate on the ‘deal’ they are getting and whether it works in today’s market. However, since the property price falls of 2007 left many investors who wanted to cash in for their retirement in dire straits, and with the demand and supply of property likely to change in the future due to demographics, it’s essential to have a good idea of when is the right time to sell your investments.

Read on to find out when and how you should sell your property investments ....

Why you Should Diversify your Property Investments

When it comes to property investment, many people start with ‘what they know’. This means buying a property, renovating it and then selling it on at a profit, or buying a property then letting it out.

However, once you have some property investment under your belt and before you look to do ‘more of the same’ then it’s worth making sure that your next investment(s) work in good and bad economic conditions, perhaps deliver a return at different times or in different ways to your existing investments.

So what does your property investment deliver at the moment? Not sure and want to find out more?

What should you do differently in the current economic climate?

With the difficult economic environment we are in and new rules that are likely to apply to property investment from a financial perspective, means that ‘doing the same thing’ may well not work now, or even in the future when the market picks up. For example, while the property market is in the doldrums and price growth (despite news reports) are not really rising; making money from renovation is incredibly difficult to do.

So find out what you should do differently in the current economic climate ......

First time property investor: Where do you start?

When you are a first time investor the whole process is incredibly daunting. On one hand you are a bit like a first time buyer again – very excited about the investment adventure you are about to take, on the other hand, you are about to enter an unregulated market that can as easily lose you your life savings as it can make you a property millionaire!

Here are our top ten first steps to take to help you work out what you need to do to help make sure your first time investment is a success.

What’s Going to Happen to House Prices in 2010?

It’s a nervous time for many people involved in the property market. So nerve wracking in fact, that many of the companies that normally predict what’s going to happen to property prices in the next 12 months – haven’t!

The problem for many forecasters at the moment is that few expected the property market to stabilise this year, many thought prices would continue to fall (not us though!). However, not only have prices stabilised, we are even seeing small price rises in some areas where demand is higher than supply. Add into the mix that the economic predictions are also giving confusing messages, with some saying we are heading out of recession while others are saying this is just a blip and we will fall further into recession over the coming months.

READ ON on to find out who is giving forecasts for 2010 property prices and beyond, and are they likely to be accurate?

Have you checked your Property Portfolio will Deliver what YOU Want?

Most people just decide ‘I’ve got a bit of cash’ and then ‘I’ll buy a property’. Next thing you know, you’ve got a ‘bit more cash’ so you ‘buy another property’. Then you’ll say, ‘I’ve put my money into property for my pension’ or ‘I’m leaving the kids a property portfolio’.

If this is you, let me ask you a question – have you actually worked out what your portfolio is worth and whether it will deliver what you want eg a pension? Or what tax your kids will pay to inherit the portfolio you’ve left them? Have you ever checked with an Independent Financial Advisor or Wealth Manager whether your portfolio can be protected or will deliver to you in your retirement?

If not, then now is the time to do so – don’t leave it for a few years, you never know what will happen. Sorry to be ‘doom and gloom’ but things happen that are out of their control, people get sick, lose their job and then lose their home or homes in the case of property investors. It’s happening to people now and now is your chance to make sure it doesn’t happen to you!

Follow my Top Five Tips to Ensure your Property Portfolio Delivers what YOU Want!

What’s the Bad News for Property Investors?

Knowing the good news for property investors is only half the story! Investing in property is a roller coaster ride and you need to avoid major and minor mistakes when investing in property or you could lose a lot of money rather than gain the riches property investment can bring!

Here are our top 10 ‘bad news’ stories for property investors to be aware of!

What’s the Good News for Property Investors?

2009 has been an odd year for anyone involved in property. At the start of the year there were some fantastic bargains to be had as the media told ‘doom and gloom’ stories on a daily basis. However, all this ‘end of the world’ news meant that most sellers who didn’t have to move took their properties off the market and have stayed put.

Meanwhile, the dramatic drop in interest rates and the government’s tightening of regulations on lenders repossessing property has meant that the amount of stock on the market has fallen almost, if not more than, demand fell last year!

So is there any good news for current or wannabe investors? Read on to find out!

House Price Market Update September 2009

Market stats show property has had a little 'wobble' over the summer, with the percentage of properties sold versus for sale down from a high of 36% to a low of 27%, the lowest conversion since April 09.

Sellers and buyers are starting to stay at home again, with a real shortage of properties coming onto the market in some areas, however the number of buyers looking also fell according to Hometrack and NAEA.

Read on to find out which are the best and worse performing areas ....

Five Options for a Quick Sale

Selling a home quickly isn’t always easy, especially in the post credit crunch era! However, so you know how to sell your home fast, to a legitimate buyer, read our five ways to quickly and safely sell your home!

Find out how to sell your home fast by reading my five quick selling options!

Top 5 things you need to know BEFORE you think about buying a home abroad!

I know that if you want a holiday home you’ll be more interested in what and where you buy, but unfortunately if you don’t take into account the legal, tax and currency exchange details, it could become the worst purchase you’ve ever made.

Follow my Top Five Tips to ensure you make a successful purchase abroad.

Student Renting in the UK

Renting as a student in the UK can be quite a complex process. It’s not like renting as a professional or a family, most students have to secure the rental property AND agree the rental price ONE YEAR in advance! This does depend on where you are going to college/university, as some areas are over supplied, but in the main if you don’t secure your rental property early, you may be stuck in a location and property some distance from where you are studying.


Read on to find out what to be aware of if you are a student renting for the first time.

Selling a Flat

Some people don’t realise that selling a flat can be very different to selling a house. The main reason for the difference is that you don’t own the whole property and the land it sits on. Most flat owners in the UK are likely to have a freeholder that they pay ground rent and a service charge to. As a result, you own the flat on a ‘leasehold’ basis only, meaning that when selling there is a lot more that your legal company and the buyer’s legal company have to do to properly transfer ownership.

There are five key differences between selling a house and a flat. Read on to find out what these key differences are .....

Selling a Holiday Home or Property Overseas

With the recent credit crunch and issues with sterling falling against other currencies, many overseas owners are thinking of selling rather than buying a property abroad. However, there is little advice and help out there to know how to do this successfully. Selling a home abroad is very different to selling a property in the UK. Find out what the Five Key Issues are when it comes to selling a property overseas.

Potential Changes for Self Employed Construction Workers!

Attention, all self employed construction workers! If you are a self employed plumber, carpenter or general builder that regularly works for contractors, beware, the HMRC are thinking of taking a very bizarre step of reclassifying self-employed construction workers as employed. There is a consultation process 'False self-employment in construction: taxation of workers'.

To find out more and what you need to do by the 12th October 2009, read on ....

When it’s time to switch your Letting Agent

The biggest complaint about letting agents from landlords is ‘what do they do for the money?’! That’s a fair question as some letting agents don’t take anywhere near enough care of their administration.Poor service to landlords via companies carrying out lettings is on the increase too. In part, this is because there are a large number of estate agents who have set up a lettings service to help their cashflow while sales are bad! The result being that completely inexperienced people with little training are often running lettings businesses and as a result giving you the landlord a bad service.

Follow my guide on 'How to Spot a Poor Letting Agent' and my Top 10 Tips to finding a Good Letting Agent!

Latest Property Market Update

Current market analysis tells us that the market appears to be 'bottoming out' certainly from a volume perspective. With regards to prices, some areas, often those with a strong economy and a shortage of properties for sale, are seeing small rises and buyers are sometimes even competing on price to secure a property. Read on to find out the true picture of the current property market .....

How do you market your property during a recession?

Although the buying and selling market seems to have ‘bottomed’ out for the moment and in some areas, properties can be selling within weeks, it’s still important to think carefully about all the different ways you can sell your property to ensure that you give yourself the best chance of selling your home and achieving the best possible price. Follow my guide to help you achieve a sale and the best price for your property.

My tenant has stopped paying the rent!

Unfortunately, during a recession more and more tenants will struggle to pay their rent, especially because of the rise in unemployment. As a result, a previously perfectly good tenant may end up being a poor paying one within a matter of months. Here are our top ten tips of what to do if your tenant stops paying rent. What do I do if my tenant stops paying the rent?

Stop, Look and Listen before you go for ‘no money’ down deals!

Well they are at it again! Back in mid 2000 there were lots of property sourcing companies offering what appeared to be, and what turned out to be, unbelievable deals on property for investment purposes. And, as the market starts to show signs of picking up (which it isn’t really, supply has reduced to match low demand), then out come the property locaters and their ‘magic deals’! Before you EVER consider property deals offered by a company - READ ON!

Is it worth extending a property lease or buying the freehold?

Is the lease on your property nearing the 80 year mark? If so, then it might be worth extending or buying the freehold! With mortgage lenders being very particular about who and what they lend on at the moment and many properties at their lowest value for some years, if you live in a leasehold property it might be worth investigating extending your lease, or even buying the freehold. Read on to find out more ....

House Price Market Update July 2009

Despite the misleading headlines that prices are rising, the actual national picture shows property prices continue to fall year on year albeit at a slowing rate. The latest Land Registry data shows the average home is now worth around £152,000. However, comprehensive analysis of both value and volume housing statistics shows ........ READ ON to find out what is really happening in the housing market!

First time buyers – should you buy or continue renting?

As a first time buyer if we were in your shoes we’d be really confused as to what is happening in the market at the moment! No-one is really helping you to understand whether you should stay put or buy your first home.


So, read on to find out the three things you need to know which will help you to understand whether you continue living at home, renting or take the plunge and buy your first home.

Are property prices going up or down?

Since the beginning of 2009, we have received conflicting information from property price reports, some showing that the market is starting to increase, others indicating that property prices are still sliding downwards. Added to this we have the housing industry saying that they are selling more homes while economists are typically still full of doom and gloom, declaring that this is just a ‘blip’ and the market will still continue to slide in 2009. Read on to find out who is right?

Costing your Property Renovation and Home Improvements

Whether you are buying a new home or trying to improve your current home, making sure you cost and budget small and large renovation projects accurately is essential. However, working out how much a new kitchen, bathroom or carpets fitted in your home isn’t always that easy! Read on to find out the key to successfully costing your property renovation and home improvements .....

House Price Market Update June 2009

Despite the misleading headlines that prices are rising, the actual national picture shows property prices continue to fall year on year albeit at a slowing rate. The latest Land Registry data shows the average home is now worth around £152,000. However, comprehensive analysis of both value and volume housing statistics shows:-

1. Property price surveys shouldn’t be relied on by the media to explain what is actually happening in the market.
2. The housing market is starting to bottom out in some areas around the UK.
3. Regionally, some markets have recovered, albeit at a low sales rate, while in other locations, the housing market is still in dire straits.

READ HERE to find out what's really happening in the property market!

Sale and Rent Back Schemes Regulated as from July 1st 2009

Also referred to as sell to let schemes, mortgage rescue or rent-back, cannot now be offered by companies unless they adhere to the interim regulations introduced by the FSA on 1st July 2009.

Whether you are a company wanting to offer these schemes and need to know how to apply or you are desperate seller and are not sure you are working with the right company, read our write up on Sale and Rent Back Schemes

Latest Property Market Update May 2009

Property market news is confusing - one week's we are told it's going up the next it's going down! This is because the news headlines only reports press releases, what it doesn't do is analyse all the information coming out from different market sectors and then come to helpful conclusions!

Never mind, here's our analysis of all the property market data. Basically the market is bottoming out, BUT only because sellers are starving the market with property stock, so much so, demand and supply is matching, BUT at 50% less than the market would normally buy and sell.

Rentals doing well, market likely to turn by winter back to a landlord's market - so tie into to contracts NOW!

Auctions continue to be successful, however values down by more than 30% and volume now falling due to falls in the number of repossessions coming onto the market!

READ MORE sc92z7kyp5

Want to successfully invest in property? Find out where new train lines might raise property prices

Are you wondering where to invest in the UK over the next 10 years to achieve good capital growth? Then start looking to see where new communications routes are beinig created. In this article, we highlight old railway lines that may be brought back into life, giving property investors some great potential returns.
Read our latest article on potential new train lines from North to South across the UK!

Need a good builder?

Thinking of undertaking some building or renovation work on your home, then finding a good and reliable builder is essential. Follow my essential guide to finding a good builder so your project doesn't end in a nightmare!

Top 10 Ways to Attract and Retain Your Tenants

With so much competition in the rental market for tenants, it's essential that your rental properties are kept in the best condition to help attract the best tenants. Follow my top ten tips on how to attract tenants and crucially how to retain them!

Top Five Tips to be a Successful Buy to Let Investor

In today’s recessionary times, with falling house prices and rental income, what you have to do to become or even remain a Buy to Let Investor. Follow Kate's top five tips as a quick guide to how to succeed.

What will happen to the housing market over the coming months?

According to BBC1’s Property Watch, “recovery is all about consumer confidence”, only to some extent. The recovery of this property market is about one main thing and that’s the need for 90% mortgage lending to come back. It doesn’t matter how confident we all are, until proper, sensible lending comes back, the market can’t move forward that much, it’s basically stuck. So will prices continue to rise over the coming months? The answer to this is yes and no, oh and also ‘it depends where you live and what property type you have!’.

When will property prices start picking up?

As rental properties are slowly filled with those ‘would be First Time Buyers’ rents will start to rise and hopefully when 90% lending comes back in, many of those that would have bought and sold will start to enter the market again. A lack of supply of properties versus increases in demand will start to push prices up in some areas, while other areas will just see a welcome increase in the number of buyers and sellers, with property types short in demand (such as character properties) likely to increase while others won’t move at all. Read on to find out what Kate's thinks about property prices .....

Good Times article on second home owners

Perhaps those who have second homes and are not currently renting them out - should! The article also shows how committed second home owners are to their purchase. See The Times article : How to earn money from your second home!

How do we solve the problem of Second Home Ownership?

Firstly it’s important to understand that much of the problem that second holiday home ownership causes is frustration and resentment from neighbours who want a community that everyone lives in all year round. So the real issue is not to ‘stop’ second home ownership, but to try to ensure that second home owners consider the community more and do their best to ensure the property is used as much as possible. Each community will have different issues and need different solutions. As a result, there isn’t a ‘one size fits all’ scenario that will sort the problem out. Read what Kate's suggestions are here ....

How do we solve the problem of Second Home Ownership?

Firstly it’s important to understand that much of the problem that second holiday home ownership causes is frustration and resentment from neighbours who want a community that everyone lives in all year round. So the real issue is not to ‘stop’ second home ownership, but to try to ensure that second home owners consider the community more and do their best to ensure the property is used as much as possible. Each community will have different issues and need different solutions. As a result, there isn’t a ‘one size fits all’ scenario that will sort the problem out. Most communities are more than able to work out what to do, however, here are some suggested steps which may help start to tackle some of these problems head on.

Will the current potential solutions to encourage and expand rural village life work?

Matthew Taylor MP has just produced a 200 page document on the Rural Economy and Affordable Housing which addressed the issue of second home ownership. In this document Matthew raises many good points which show why so many rural communities are suffering. Unfortunately for Matthew, much of the good work he did was missed and instead the bulk of the focus from the report has been on second home ownership and the problems it causes. Read on to find out what Kate thinks to Matthew Taylor's document!

Is it still acceptable to have a second home when so many people can’t afford one?

The subject of second home ownership is certainly very topical at the moment, hitting the headlines on television, radio and newspapers. So, is it still acceptable to have a second home when so many people can’t afford one? The answer to this is simple: Yes. We live in a free society and as much as it’s important for us to be able to practice free speech, so it’s important for us to be able to choose how and where we spend our hard earned cash. If it’s a second home somewhere around the UK or abroad, then so be it, or is it? Read on to find out the truth about second home ownership!

Radio 4 You and Yours: Are second homes fair?

Great programme run by the Manchester You and Yours team. If you are interested not just in the debate on second home owners, but also in the need for affordable homes in rural communities, then 'listen again'

Should you worry about Negative Equity? Can you avoid Repossession?

Currently the headlines are reporting what appear to be 'huge' numbers of people in negative equity (reports are around one million people) and repossessions are rising by the minute, estimated at 75,000 in 2009.

Watch Kate's video on Negative Equity and Repossession, where she worked with Nottingham Trent University's media team and students to produce the truth about Negative Equity: that if you aren't selling and if you can continue to pay your mortgage it's not something to worry about.

Repossession is growing, but from an all time low, and although it's awful for anyone to be repossessed and 75,000 sounds a 'high' figure, it's important to remember that this equates to less than 1% of the number of people affected who have a mortgage. And if you are in fear of repossession, there are lots of things you can do to avoid it. Watch our video on Repossession and also our article on Repossession if you need further help.

Kate's on BBC1's Big Questions!

Think people should be stopped from owning second homes - Kate doesn't!

See BBC1's Big Questions re- run from Sunday

Latest Property Market Update

Are January's 'green shoots' in the property market here to stay or will property prices continue falling? Read property expert Kate Faulkner's property market update!

For latest news on property prices, rental incomes, commercial property, self build and land prices, what's happening at auction and in the property investment and overseas market, visit the Designs on Property February 2009 Market Update

Be careful who your overseas neighbours are!

Prices in Kenya for properties overlooking the coast are rocketing due to pirates buying them for cash! Read More
Whenever buying abroad, particularly in countries with a high crime rate or poor financial regulation, do carry out your research very carefully, particularly making sure that the land laws are robust.

American mortgages being bought and 're-sold' at a bargain price - could it happen in the UK?

Fascinating article from Bloomberg showing how companies are buying mortgage debt from lenders and then 'reducing' the loan so that it's affordable for the homeowner! On the one hand sounds like a sensible deal, but on the other hand, it feels a little like 'sub-prime' deals all over again! Read "Bank Charges May Surge as Mortgages Marked to Market"

Shanghai's first property downturn?

For all of us in the UK who feel hard hit by last year's property slump, it's worth remembering there is always someone worse off! Great article from BBC news on the first real property downturn in Shanghai.

Good article from FT.com

This is a good round up of what's happening in the prime London market, positively effected by the drop in new properties coming onto the market and the exchange rate attracting foreign buyers. This article shows that some markets are starting to recover - but it's slow, sporadic and will still take time.
FT article: More offers made on desirable residences

How to spot the bottom of 'the market'

Suddenly the papers are full of 'green shoots' about the "property market". However, as we've already identified, there are thousands of different property markets across the UK.

So can we predict the bottom of the housing market? The short answer is 'not yet'! Many forecasters have been saying that the UK market will crash since 2000. However they were seven years too early! Not really forecasts you can rely on.

The real truth is that no-one can predict the bottom of any market until after it has already happened! And does it really matter?

If you are an investor, then buying 'at the bottom' or near to it is quite important as you make your money when you buy. However, as most property investors hold onto property for ten or more years, whether they buy 'at the bottom' or +/- 10% doesn't really matter over this length of time.

If you are looking for a home you want to live in for a good five to ten years or more, then it's a bit pointless waiting for the bottom of the market to buy. Firstly you may miss out buying the home that you want and secondly, why not just offer a price that takes into account any likely further falls?

Many buyers who are trading up benefit in a falling market as they can afford properties that would otherwise be out of their price range. This does rely on you being able to sell your own home and in current credit crunch conditions have the equity and deposit required to secure a decent mortgage.

The other key consideration is which market are we looking for the bottom of? The London or Edinburgh market? The market for 1930s homes? New builds? Listed buildings? A self build plot of land? The truth is there are thousands of different property markets and they will all 'bottom' out at different times over the coming year or two.

To help you identify 'How to spot if YOUR property market is bottoming out':-

Step One
Work out what the market is for the property you want to buy. It might be three bedroom homes within a three mile radius or it might a farmhouse in a village location.

Step Two
List how many properties you are interested in that are for sale and how many have sold over the last three months.

Step Three
Idenitfy two or three roads that have homes that you are looking to purchase and monitor weekly and monthly how many homes their are for sale and sold

Step Four
Checkout Hometrack to see in your postcode whether viewings, time to sell and the offer versus market price percentage are changing towards a faster moving market.

Step Five
Once you see that the number of homes for sale versus sold is starting to 'balance' and properties that haven't sold for some time are starting to come off the market, then it's likely that the market you are buying in is starting to bottom out. The biggest indicator is when people start competing for good properties in good locations.

For more information on buying and selling a home and the market, visit www.designsonproperty.co.uk

Good Facts and Headlines!

I might not be fond of media headlines that are aimed at selling newspapers or securing viewers, but I also know that there are lots of programmes and reports out there that are really helpful to the general public.

Want to know what's worth watching? Visit my views on the current TV programmes and keep up to date with what's on telly daily with our Property Planner!

In the meantime, here's some of this week's best articles (well I think so!)

Telegraph:
Renting property: How much would you pay to rent this home?

What is the definition of the 'Property Market'?

Currently, headlines and press releases either say the property market is going to fall by another 30% this year, or that prices will stablise. What's actually happening?

To answer this question we need to understand what the 'property market' actually is. The most regular consumer media reports concentrate on the buying and selling market, reporting the property price reports such as Halifax and Nationwide.

Buy to Let is still written about, and in the current climate, coverage is usually about people who have lost money, rather than those that have made and continue to make a fortune.

Overseas is a popular subject, but this is declining or showing people who have bought second homes abroad 'in trouble' as their purchase or sale has gone wrong due to the credit crunch.

However there is much more to the 'property market' than these three popular subjects. In fact it breaks down into at least 8 key markets:-

Buying and Selling a Home
Renting and Letting
Residential Auctions
Commercial
Land and Self Build
Property Investment
Home Improvement
Overseas

For a monthly update on what is happening in all of these markets, visit our Property Market Update.

No time to visit the update? Here's a brief summary for you:-
Buying and Selling
This is a market that's dangerous to generalise comments in. However, transactions are still down by around half, but signs are, since January 2009 that there are more buyers around, sellers are being more realistic on prices and less properties are coming onto the market, so supply and demand is starting to balance out. Some areas and property types are already showing signs of short supply. However this market cannot recover fully until the mortgage lenders start lending again.

Renting and Letting
This had a storming year in 2008 until October 2009, when too many properties that had been up for sale turned to renting. This caused some areas to go into oversupply and rental income began to fall slightly. However January seemed to generate more interest from tenants and property rental volumes are up, even if rental prices in some areas need to remain competitive to secure tenants.

Residential Auctions
A great market to look at to see what's really happening now and if interest in the general buying/selling market is about to rise. Currently this market is 'flying' with great deals being done, albeit that values are down.

Home Improvement
This market always thrives when people buy properties and when people have tried to sell their property but then decide not to, they normally spend money on their own to improve it. Consequently, sales were down in 2008 and will continue to be low in 2009, however as people decide not to move, there will be some improvement.

Land and Self Build
Residential land sales have declined due to a lack of city bonuses and mortgage lenders tightening up their lending criteria to self builders. However for those with the cash, this is probably one of the best years to self build. Land prices and competition for land has reduced and won't recover while the building industry is on its knees. Workers are readily available due to the lack of industry jobs and materials are easier and cheaper to come by.

Commercial
Despite few headlines featuring commercial property, especially small properties under £300,000, this market has actually performed and suffered more than the residential market! However things are starting to recover as rental income can, in some cases, deliver a higher return than the costs you incur.

Property Investment
This market is currently booming with people buying property at properties up to 50% below their true, current value. Rental demand is up, albeit there is some property oversupply. Meanwhile renovating for profit is a little too tough to predict success unless you are a professional. Property syndicates and funds are giving mixed performances and some investors are looking overseas to investments at land purchase level, rather than buying individual units.

Overseas
This market is suffering on two fronts. Buyers have dried up with the UK credit crunch, while those trying to sell are struggling and have flooded the markets - particularly the sun, sea and sand holiday homes - with stock. This reduces prices and makes it tougher to sell.

On the other hand there is still money to made from emerging markets, as long as people are careful with the investment they are making. Looking for deals that rely on local demand rather than a second home market.