Homeowners turn to quick house sale schemes as prices continue to nosedive and buyers stay away.
As unemployment spirals and official figures on the economy finally tell us what we already knew about the country being in recession, those homeowners hoping for a quick end to falling house prices are likely to be disappointed. Even though we're constantly reminded that the current global financial crisis is ‘unprecedented', it's hard to ignore what's happened in previous recessions with respect to the housing market, and all the pointers are telling us that we're still way off the bottom.
Sell your property quick or risk losing a lot more
With even the most conservative predictions forecasting at least a 2% contraction of the UK economy in 2009, it's clear that things are going to get considerably worse over coming months. Don't expect to see any green shoots this Spring, as 2009 is set to be an ice age for the economy, with the housing market bearing the brunt of the blizzard. More homeowners than ever before are faced with massive devaluation of their homes, and the number of people falling into negative equity is set to rocket over the coming 12 months.
Experts tip continuing price falls
Even the house price slumps of the early 1990s were modest by comparison with the current crisis, as prices fell by 13% over a 6 year period, compared to a similar figure already in the first 18 months of the current crash. Such alarming figures certainly justify the repeated use of the word ‘unprecedented' in the media, and give the clearest indication yet of the depths that could potentially be plumbed over coming months.
Sell house quick – low bank lending killing housing market
The main reason behind the unprecedented nature of the current slump is the evaporation of UK credit flows, which in turn has dried up the buyer base and turned the whole UK property market into a deserted wasteland. Added to this, mortgage deposit requirements are soaring, while the wider economy contracts and purse strings tighten in general, meaning less and less buyers are able to access the funds to buy property, even if they wanted to – and not many do!
Step off the property ladder, but stay in your home with a sell and rent back scheme
The dream of owning property is fast turning out to be a nightmare for many homeowners as a direct result of the credit crunch and the subsequent housing market collapse. But there are ways to avoid the heartache of losing the home you love, even though you can no longer afford to pay the mortgage, or simply want a quick exit from the increasingly volatile market. ‘Sell house quick' schemes, which allow you to sell to a specialist company and then immediately rent it back without the stress and hassle of having to move, can instantly remove you from exposure to the declining market and eliminate altogether the threat of repossession. Thousands of homeowners in the UK are turning to such schemes to avoid becoming victims of the housing market.
Want to make a quick house sale? Talk to a specialist today!
Create Quick Sale are a company with many years of experience in buying and leasing back property. We are part of an international group that's also involved in secured finance, asset management, property development schemes, private equity and other investments. Our main businesses are in the UK and we have assets and operations throughout the world. If you're after a quick house sale, Create Quick Sale will have a solution for you. Call us on 020 8457 3200 to find out more, or email your query to: info@createquicksale.com