On the 30th April Kenilworth residents were finally rewarded by the opening of its new Railway Station. Situated just a few hundred yards from our Warwick Road office we were lucky enough to have been asked to comment on both BBC Coventry & Warwickshire and on BBC One as well. Essentially a shuttle linking the major hubs of Birmingham, Coventry and Leamington Spa together, the social impact of Kenilworth’s station cannot be overlooked. With cheap and easy hourly access to the neighbouring towns and cities, Kenilworth may not remain the “Island” it has sometimes defended itself against. With enclaves of surrounding land earmarked for residential development never has a time to embrace changes for the positive seemed so apt.
A community, that even in the most recent years knew exactly who it’s eldest residents and original families were, are seeing changes and dramatic rebirth occur. Whether found by way of a platform on a Station or a glass of Wine within an award winning restaurant, the towns appeal seems to be growing beyond it’s boundaries. Families attracted by schooling and now interconnectivity (without the need for owning your own four wheels!) mean that wherever in Kenilworth you may live you sit never more than a walk away from whatever your needs may be.
This surely, and being at the heart of forthcoming change rather than battling against it, is where strength in a community must truly be welcomed.
Welcome back! That was as long a Summer as I’ve enjoyed without Sun as far as I can even remember!
Business however was brighter. There was none of the traditional slow down over the months of July and August whatsoever. Instruction levels were high and the interest accordingly. The buyers we needed to attract had obviously decided to not take gloriously long overseas holidays and instead concentrate on securing new home’s for themselves!
Such a successful Summer led me to review the market in general and a couple of valuations I was involved with.
Now, more than ever, the asking price for a home is so crucial that an overvaluation will have such negative effect it will simply show buyers what good value neighbouring homes are instead of your own. I am not saying undervaluing is the solution but, put simply, it bears no risk in comparison to its capitalist and heinous cousin, the greedy valuation.
If a house is truly “undervalued” whether purposefully or accidentally then the worst that will happen is the public will agree it’s exceptional value and numerous offers will then be received. Through negotiation the price then reaches the correct (and increased value!). Although as a buyer this can be an unpleasant experience, a good agent, if they handle it correctly and honestly, will offer advice and build relationships that will help those unlucky first time round (or third if you are like myself!) that will come good in the end.
I looked at the Purple Bricks very carefully. I saw more local instructions with Purple Bricks than any other agent. With false promises (semantics if you will) of no commission (fee’s instead) and a NO SALE BUT STILL PAY OUR FEE philosophy, there is no surprise to see that their “Price Reductions” are also the highest in the local area.
Without being too simplistic about it, the easiest way to achieve an instruction is to tell a client that there property is worth more than it is. Add that to “pay me whether it sells or not” and you have an agent whose ethos is for “being paid for instructions to sell houses for less than the listed price”. If you want annual statistics to prove this point in Black and White (not Purple) then contact me and I’ll be happy to explain that all that glitters isn’t Gold (but it is possibly Purple!).