Credit crunch rolls on say National Homebuyers
Individual private investors will continue to be affected by the global credit crunch in 2008, potentially leading to more people seeking a fast property sale.
[UKPRwire, Thu Jan 24 2008] According to Off-Plan International, homebuyers will struggle to secure loans and this could lead to a downturn in house prices as fewer buyers enter the market.
With this in mind, many homeowners may seek a fast property sale in order to get as much money for their property as possible before prices slide further.
Simon Walker, sales director at the firm, said that different types of property investors will be affected in different ways.
"The term 'investor' is quite a throw away term now. It can be a single person with a bit of cash buying one property and it being the only one they will ever buy," he commented.
"You have also got the larger corporate investors who will not be affected too much. Individuals will obviously be affected because of loan rates.
"It just depends on who the investor is," continued Mr Walker.
Quick property sale expert Julian King adds, "Homeowners need to act quick to ensure they limit their losses.
"It's worth commenting that selling a property on the open market will be met with the cost of Hips packs, a stark lack of available buyers, a continued drop in property values and lengthy marketing periods".
Mr King is a director of the UK's leading quick house sale company, National Homebuyers. The organisation arranges the fast purchase of property across the UK. The company is also market leading provider of Sell and Rent Back solutions.