Luxury home owners are finding it harder to sell a property in the UK and some have been adopting new techniques when selling their homes. At the same time property experts have warned that home values could plummet by at least 10% by the end of next.
Mortgage approvals, according to the Bank of England, are running at around half the levels that would underpin a sustained rise in valuations, despite the stamp duty holiday for first-time buyers of homes worth up to £250,000.
In the first seven months of 2010, almost 340,000 mortgages were approved – more than in the same period of 2009, when just over 310,000 mortgages were approved, but well down on historic norms.
To combat the difficulties in the housing market some vendors are turning to websites such as The Little House Company who offer different methods to boost the chances of a sale. Director Nick Marr calls them Extreme House Sellers
Extreme House Selling is being proactive and doing "everything possible to sell homes". Extreme House Selling goes way beyond what most Estate Agents and Home Sellers normally do to sell their homes.
Nick Marr “None of us can change the market, but we can try to make the most of a really tough market. Private home sellers can take ownership of their marketing, accept responsibility, make decisions and take massive actions to sell their property.
Terry Jennings, an IT businessman, is pursuing a different initiative to sell his listed house in Buckinghamshire (£895,000, Cesare & Co: 01442 827000; www.cesare.co.uk) If a buyer pays the full price he will give them his 36-year-old Triumph TR6 – free.
"The house has been on sale for only a few weeks, but we recognise the state of the market. We\'ve got to do something different to create some publicity," Terry says.
Another vendor has joined in Extreme House selling by joining the Referral Reward marketing option offered at The Little House Company. He is selling his luxury £3,795,000 Essex home and offering a cool £20,000 reward to anyone that finds him a buyer
The Little House Company concept of Referral Rewards is part of the Extreme House Selling concept and an example of vendors employing an extreme house selling techniques. The strategy deployed effectively means that sellers are head and shoulders above the competition and can help create a huge marketing team.
Meanwhile, the new homes market is adopting similar strategies. Linden Homes is offering buyers the chance to have a free conservatory worth £10,000 when they buy in a development at Chinnor in Oxfordshire. And David Wilson Homes is including an annual rail and London underground pass, worth £4,760, for commuters buying flats at its Moove development in Banbury.
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Author
Nick Marr
I am an internet entrepreneur with a passion for driving big audiences and a love for real estate. I have had plenty of ups and downs which has given me the experience to help others launch their own businesses. I enjoy projects that save consumers time and money, challenge convention and add real value to peoples lives.