Clive Emson Auctions was founded in 1989 to provide a high profile auctioneering facility to corporate and independent estate agents, private customers and statutory bodies. Our prosperity is due to, and remains, attributable to a firm earnestness to calibre and service.

The concept of the Company is to provide a specialist land and property auctioneering service and, therefore, does not compete with the orthodox estate agency, mortgage broking, insurance or any other aspect of the property class. All holdings upon which we are instructed are offered for sale in the auction catalogue.

The full colour catalogues made for each of our seven three-day auctions held yearly are available either by post or through a mesh of over 460 estate agency outlets throughout Surrey, Hampshire, Dorset kent, Sussex, SE London, Wiltshire, Berkshire and the Isle of Wight. The commerce is supported by more estate agency offices throughout the South of England than any other auctioneers practice.

In addition lot details, catalogue downloads, viewings and legal substantiation are available through this website. During each marketing crusade the entire catalogue is also conjugated within “The Estates Gazette”, which has a circulation of 60,000.

At a time like now, with the economy in a bit of a mess, potential homebuyers may be wondering if now is a good time to buy.

Well, as I discovered myself, the answer isn’t a simple yes or no, and buying a house now has a few advantages and disadvantages you should take a look at before you consider making a move:

Advantages

1. At the moment, the average house price is lower than it has been, so people looking to buy a house should get a bit more for their money, or get the property they’re looking for – for less. Mind you, it’s still important to search the market for the best deal, as some houses may be priced lower for good reasons.
2. With the base rate at its historic low of 0.5%, people who need to take on a mortgage in order to afford their house should benefit from the lower interest rates. Although the low interest rate is bad news for savers, people who are paying interest on their mortgage often find that their payments are lower than usual.

Disadvantages

1. No-one can accurately predict what will happen regarding future house price trends, so buying a house now could be a risky investment – for example, someone may buy a house for £150,000 and next year it could only be worth £140,000.
2. It is important that anyone looking to jump onto/move up the property ladder at the moment understands that mortgage rates aren’t entirely based on the Bank of England’s base rate. There are a number of other factors that mortgage providers take into account before deciding on interest rates.

Remortgaging

For people who already own their own home, but are looking to remortgage, the same kind of question may pop up – is now a good time to remortgage?

Advantages

1. Again, with the base rate at an all-time low of 0.5%, now may be a good time to remortgage. People looking to remortgage should be able to get a good deal at the moment.

Disadvantages

1. Because of the lower house prices, some homeowners may have less equity in their home – which means that they may get a worse deal (because mortgage providers tend to charge more when the mortgage they’re granting is larger – as a percentage of the house’s value).
2. Again, mortgage rates aren’t based entirely on the Bank of England’s base rate, so no-one can guarantee that they will get a low-interest deal. It all depends on the lender’s criteria and the situation of the homeowner looking to remortgage.

Apologies this course is no longer available, I will update the review if I find a suitable alternative

Review of a new property development course

Property Development Advice has traditionally be elusive and expensive. Some lucky beginners manage to make it on to Sarah Beeny’s “Property Ladder” programme, but often don’t have the sense to take her expert business advice! For the rest of us, you may rely on friends and family, or perhaps expensive property seminars.

“It is designed to make you feel ready to invest and make the effort needed to transform you life, from job to financial independence.”

At UK Auctions when we found out about an online property course, we were excited and I had to purchase it and have a look for myself. The established company “UK Property Success” provides a course booklet and a downloadable investment calculator for working out if the proposal is a viable business. What is especially good is there is also an audio version of the course included free. Now imagine learning all of the secrets of property development on the car journey or train journey to work, or at the gym! What a great way to use that “dead time” in your week. The audio is in mp3 format which is ideal for an iPod or for conversion onto CD or cassette.

So lets first talk about the online course. When you sign up, you download an electronic course book which gently guides you though property development. The advice is in plain language. It is easy to follow. And it is based on real experience. The author is definitely not an academic, he is a average guy who has made a massive income by following his dream and giving up the “JOB” (Just over broke). There are 192 pages of solid advice. And because it is no-nonsense, it is probably the equivalent of 800 pages of course books written by other authors. It really will save you time and money, and provides excellent property development advice.

Chapter one is inspirational. It is designed to make you feel ready to invest and make the effort needed to transform you life, from job to financial independence. It is important to be inspired, and having these pages and wise words will make you fly off the couch and into action very quickly.

Chapter two covers a lot of the basics including terminology often used in the trade. You may already know a lot of this, but it is all covered just in case. It is a course for absolute beginners fresh out of college as well as those who have a bit of experience, e.g. from buying your own house and arranging a mortgage etc.

There are chapters on strategy and research, the cornerstones of any business that are often overlooked by the too eager. But in my opinion research (or lack of) is where the business success or failure mostly happens. You’ll know this when you see Dragons Den and the experience millionaires ask “so how big is your market?”, and the entrepreneur gets stuck for words! Luckily property investment is a well trodden path and the research element can be easily learned from these chapters.

The subsequent chapters talk about repossessions, below market value and such topics. The style of writing remains charismatic and easy to follow. You will ready this to make sure you get a bargain. Don’t be the one who pays the estate agents asking price (or just a bit below) – there are too many people doing that, even in the recession! Follow this advice and a significant chunk of profit margin comes from the discounts you negotiate.

There is also a big section on law, which is a big subject so the essential points are mentioned. If you don’t know the law you could become unstuck at the following stages: buying a property, letting a property, building contracts and selling the property, organising the mortgage – so pretty much everything to do with property investment then!

I was very impressed by this course. My only complaint was how long it is. I was keen to learn but didn’t realise how much I’d have to read. But then as I read more I realised all this stuff is essential and will save me £1000’s in mistakes that I will avoid. So each hour you spend reading the course is £10s or £100s saved in your investment career. It’s a wise choice.

I did mention earlier about the investment calculator. This is an excellent tool and it will make you quickly realise if a proposed investment is financially feasible. It includes the hidden costs that most Property Ladder and Grand Designs contestants forget about.

And don’t forget the audio set – great for the car journey.

So overall I would rate this course 9/10 and it’s the best one I’ve seen for a long time for property development advice. I would be happy to pay £100+ for a course like this.  Luckily for me and you they only charge a fraction of that. However if you are interested I would buy it soon before they realise they could charge more for this.

Apologies this course is no longer available, I will update the review if I find a suitable alternative

The proportion of properties successfully sold at auction soared by nearly two-thirds during the past month as buyers began to return to the property market, figures have shown.

About 79% of all properties which went under the hammer with Countrywide Property Auctions between May 28 and June 12 sold, compared with only 49% during the same period of 2008.

At the same time, 40% of properties sold for more than their guide price, compared with an average of only 7% during the first half of 2009 taken as a whole.

In one case, a flat in London sold for 20% above its guide price, while the group also reported a rising number of properties which were sold ahead of the auction.

Mark Tanton, chief auctioneer at Countrywide, said: “During the last quarter, we saw buyers playing a waiting game to see if prices were going to fall further. The mood has changed and buyers are no longer holding back from investing in property. There has been a large increase in demand for properties at auction this month.”

Countrywide, which is the UK’s fifth largest auctioneer, said it was seeing a growing number of people buying homes through auctions, as opposed to investment or development properties.

Mr Tanton said: “The demographic of buyers in many of the auction rooms has shifted and we’re seeing a growing number of first-time buyers and parents looking to purchase a property to help their children get on the property ladder.

“Private buyers are now sat alongside our professional buy-to-let landlords and in many cases outbidding professional investors.”

The group held auctions in Manchester, Birmingham, Leeds, London, Bristol and Llandudno during the period, with properties ranging from a former children’s home to modern apartments and starter homes priced from just £39,000 going under the hammer.

Here is some useful information for anyone thinking of leasing commercial property or adding commercial property to their portfolio.

Lou: Hi, grateful for some help, I am about to start looking for commercial properties to rent but wonder if someone could please either tell me what a “full repairing and insuring lease” is, point me in the direction of a useful website, or let me have a copy of such a lease!! The majority of properties are let this way but I am having trouble finding somewhere/someone that can explain in laymans terms what my obligations as a tenant will be.

I have several residential properties that I let out and had no problem finding information on the net but there’s not as much for commercial property.

Many thanks in advance for your help.

Tax Accountant: Your obligations as a tenant will be quite extensive. You will be responsible for all the ongoing repairs and insurance for the building. Although you don’t have any responsibility for improving the property, you still have to maintain it in a satisfactory state. The most important is the dilapidations issue. When you hand back the property, you will be responsible for putting back the property in the state in awhich it was originally when the lease was first issued. If you are taking a lease by assignment from another tenant, you are still responsible for all outstanding repairs. It is best to have the property surveyed before you take on a lease.

Ramnik

SteveP: It means exactly what it says on the tin. You will be responsible for the insurance and repair of the property. The detail of that repairing obligation will depend firstly on what the repairing clauses in the lease say. Typically they may require you to put and keep, or keep the property in good repair, both terms will make you liable to remedy disrepair that exists already not merely to return it in its present condition.

Repairing clauses also generally include other matters, such as complying with regulations, which you will have to pay for. There are also normally decorating clauses which may have cost implications.

You should not sign a lease without having a survey carried out by a chartered building surveyor (it really is just about the most reckless thing you can do) and if the building has significant mechanical/electrical services you will probably need a report from a chartered buillding services engineer too. A chartered building surveyor will be able to advise you whether the terms are appropriate and whether you should negotiate different terms, for example terms that limit your liability by incorporating a schedule of condition.

I could tell you hundreds of stories of people taking on commercial leases without such advice beforehand that end with the tenant being liable for thousands of pounds worth of disrepair which could have been avoided very easily.

Tax Accountant: Do not take commercial leases lightly. Take full legal advice and don’t skimp on the survey to ensure that you are not taking on the responsibilities of other peoples repairs and dilapidations.

Ramnik

Lou: Many thanks for your replies and advice. We will get full surveys and legal advice etc and ensure the building is in an acceptable state before taking on any lease.

Presumably then the owner has no or little responsibility for the property other than buying it?? If so this seems less troublesome than having a residential portfolio where the landlord is responsible for everything – although I am sure it’s not as simple as this!

many thanks again for your help

Lou

By the way I am looking for premises of approx 3000 – 6000 sq ft on the west/northwest side of Edinburgh if anyone happens to know of any! thanks.

—

Taken from LandLordZone: (http://www.landlordzone.co.uk/forums/archive/index.php/t-644.html)

Source: http://www.guardian.co.uk/society/2009/apr/08/rentergirl

By Penny Anderson

Because I live in private rented housing, it’s entirely possible that I could find myself obliged to move every six months until I die. I’m not being neurotic or pessimistic – it could actually happen. For renters stuck on this treadmill of short, serial tenancies, life can resemble an infinite sequence of heroic tasks. There’s the legendary utility company reconnection trial, marauding hordes of duplicitous letting agents to defeat, and the Sisyphean cycle of packing/unpacking/repacking.

It makes me wish I was French or Dutch. On mainland Europe, letting is the norm, and agreements last for years. Renters can make themselves at home, whereas in Britain the standard tenancy lasts just six months, and bad landlords delight in keeping tenants on tenterhooks come renewal time.

The law can be supportive of landlord short-termism. The last Conservative government passed legislation intended to simplify what was seen as a complex eviction process, unblocking what they regarded as a moribund private rental sector. Recently, housing charities and lawyers have noticed that section 21 of the 1988 Housing Act – put simply, the first step in giving notice to quit – is being used to undermine security. Some landlords even start the process of ending the tenancy on the very day renters move in, encouraging (or compelling) them to sign an acknowledgment that a section 21 notice has been served.

Many younger or inexperienced renters fail to grasp the implications of what they’ve signed. They might have been homeless and are understandably desperate, perhaps scared. But even tenants with pristine references can be victims. Landlords and letting agents promote the procedure as harmless, as a routine and sensible precaution. Renters who understand what they’ve signed are rattled, and increasingly reluctant to press for repairs, or they might accept untoward rent increases, fearing that, if they refuse, they will be shown the door.

“Retaliatory evictions” describes the situation where tenants assert their right for repairs or maintenance, only for the landlord to suddenly and coincidentally decide to sell up (the rules on vacant possession are open to misuse).

Another strategy used to undermine tenants could simply be described as “lying”. Letting agents are known to advertise a long-term contract, knowing full well that the landlord has no such intentions. In one extreme case I encountered, a tenant was granted a six-month agreement, but was assured it would be renewed whenever they wanted. They were so delighted they redecorated, and even planted a garden. In fact, not only was the house for sale, but was owned and being marketed by their own letting agent. They had to move for the fifth time in as many years.

Given such conditions, how are people to settle within a community? What about families who need to find schools? We never know how long the master of our destiny might deign to let us stay, and the current climate has increased insecurity as owners facing financial difficulties, even about to forfeit the mortgage, force tenants to move on again.

T he process of moving house is always fraught, exhausting and costly. Too many renters lead nomadic lives, paying removal costs, losing deposits and stumping up for agency fees, while enduring inconveniences such as telecom providers who cut off communications for weeks every time they relocate. For credit reference purposes, our fragmented housing history makes us look dodgy, like fugitives. Once again, the result is further expense, in sureties and precautionary advance payments for necessities such as phones.

For all these reasons, we can’t make plans. And with short-term tenancies ending on a whim, it’s hardly worth unpacking. That’s why I hoard banana boxes (they’re the strongest; I am now a packing expert). But it’s no way to live. Landlords should value long-term tenants, and end this drive for short-term renting. Otherwise, we’ll have to move so often that eventually you’ll see removal vans roaming the streets like taxis, ready when we need them.

Penny Anderson blogs on living in private rented accommodation at rentergirl.blogspot.com

A list of towns in which you may find property for auction at a nearby property auction. For more information on property auctions click here.

A

Abingdon, Abridge, Accrington, Acle, Addlestone, Adlington, Adwick le Street, Alcester, Aldeburgh, Aldershot, Aldridge, Alford, Alfreton, Alnwick, Alsager, Alston, Alton, Altrincham, Amble, Ambleside, Amersham, Amesbury, Ampthill, Andover, Appleby-in-Westmorland, Appledore, Apsley, Arlesey, Arnold, Arundel, Ascot, Ashbourne, Ashburton, Ashby-de-la-Zouch, Ashford (Kent), Ashford (Surrey), Ashington, Ashton-in-Makerfield, Ashton-under-Lyne, Askern, Aspatria, Atherstone, Atherton, Attleborough, Audenshaw, Axbridge, Axminster, Aylesbury, Aylsham

B

Bacup, Backworth, Baildon, Bakewell, Baldock, Banbury, Banstead, Barking, Barnard Castle, Barnehurst, Barnoldswick, Barnsley, Barnstaple, Barrow-in-Furness, Barton-upon-Humber, Basildon, Basingstoke, Bath, Batley, Battle, Bawtry, Beaconsfield, Beaminster, Bebington, Beccles, Beckenham, Bedale, Bedford, Bedlington, Bedworth, Beer, Beeston, Belper, Berkeley, Berkhamsted, Berwick-upon-Tweed, Beverley, Bewdley, Bexhill-on-Sea, Bicester, Biddulph, Bideford, Biggleswade, Billericay, Billingham, Bilston, Bingham, Bingley, Birchwood, Birkenhead, Birmingham, Bishop Auckland, Bishop’s Castle, Bishop’s Stortford, Bishop’s Waltham, Blackburn, Blackheath, Blackpool, Blackrod, Blackwater, Blandford Forum, Blaydon, Bletchley, Bloxwich, Blyth, Bodmin, Bognor Regis, Bollington, Bolsover, Bolton, Bootle, Bordon, Borehamwood, Boroughbridge, Boston, Bourne, Bournemouth, Bovey Tracey, Bowness-on-Windermere, Brackley, Bracknell, Bradford, Bradford on Avon, Brading, Bradley Stoke, Bradninch, Braintree, Brampton, Brandon, Brentwood, Bridgnorth, Bridgwater, Bridlington, Bridport, Brierfield, Brierley, Brierley Hill, Brigg, Brighouse, Brightlingsea, Brighton and Hove, Bristol, Brixham, Broadstairs, Broadstone, Bromborough, Bromsgrove, Bromyard, Broseley, Brough, Broughton, Broughton-in-Furness, Brownhills, Broxbourne, Bruton, Buckfastleigh, Buckhurst Hill, Buckingham, Bude, Budleigh Salterton, Bulwell, Bungay, Buntingford, Burford, Burgess Hill, Burgh-le-Marsh, Burnham-on-Crouch, Burnham-on-Sea, Burnley, Burntwood, Burton Latimer, Burton upon Trent, Bury, Bury St Edmunds, Bushey, Buxton

C

Cadishead, Caister-on-Sea, Caistor, Callington, Calne, Camberley, Camborne, Cambridge, Camelford, Cannock, Canterbury, Canvey Island, Carlisle, Carnforth, Carterton, Castle Cary, Castleford, Caterham, Catterick Garrison, Chadderton, Chagford, Chapel-en-le-Frith, Chard, Charlbury, Chatham, Chatteris, Cheadle (Greater Manchester), Cheadle (Staffordshire), Chelmsford, Cheltenham, Chertsey, Chesham, Cheshunt, Chessington, Chester, Chesterfield, Chester-le-Street, Chichester, Chigwell, Chingford, Chippenham, Chipping Campden, Chipping Norton, Chipping Ongar, Chipping Sodbury, Chorley, Chorleywood, Christchurch, Chudleigh, Chulmleigh, Church Stretton, Cinderford, Cirencester, Clacton-on-Sea, Clare, Clay Cross, Clayton-le-Moors, Cleator Moor, Cleckheaton, Cleethorpes, Cleobury Mortimer, Clevedon, Cleveleys, Clifton, Clitheroe, Clun, Coalville, Cobham, Cockermouth, Coggeshall, Colchester, Coleford, Coleshill, Colne, Colyton, Congleton, Conisbrough, Consett, Corbridge, Corby, Corringham, Corsham, Coseley, Cotgrave, Coulsdon, Coventry, Cowes, Cradley Heath, Cramlington, Cranbrook, Craven Arms, Crawley, Crayford, Crediton, Crewe, Crewkerne, Cricklade, Cromer, Crook, Crosby, Crowborough, Crowland, Crowle, Croydon, Cullompton

D

Dagenham, Dalton-in-Furness, Darlaston, Darley Dale, Darlington, Dartford, Dartmouth, Darwen, Daventry, Dawley, Dawlish, Deal, Denholme, Denton, Derby, Dereham, Desborough, Devizes, Dewsbury, Didcot, Dinnington, Diss, Doncaster, Dorchester, Dorking, Dover, Dovercourt, Downham Market, Driffield, Droitwich Spa, Dronfield, Droylsden, Dudley, Dukinfield, Dulverton, Dunstable, Dunwich, Durham, Dursley

E

Eaglescliffe, Ealing, Earby, Earl Shilton, Earley, Earlswood, Easington, Easington Colliery, Easingwold, East Grinstead, Eastbourne, Eastham, Eastleigh, Eastwood (Essex), Eastwood (Nottinghamshire), Eccles, Eccleshall, Eckington, Edenbridge, Edlington, Egham, Egremont, Elland, Ellesmere, Ellesmere Port, Ely, Emsworth, Epping, Epsom, Epworth, Esher, Eston, Eton, Evesham, Ewell, Exeter, Exmouth, Eye

F

Failsworth, Fairford, Fakenham, Falmouth, Fareham, Faringdon, Farnborough, Farnham, Farnworth, Faversham, Fawfieldhead, Fazeley, Featherstone, Felixstowe, Feltham, Fenny Stratford, Ferndown, Ferryhill, Filey, Filton, Fleet, Fleetwood, Flitwick, Folkestone, Fordbridge, Fordingbridge, Fordwich, Formby, Fowey, Framlingham, Frimley, Frinton-on-Sea, Frodsham, Frome

G

Gainsborough, Garforth, Garstang, Gateshead, Gillingham (Dorset), Gillingham (Kent), Glastonbury, Glossop, Gloucester, Godalming, Godmanchester, Golborne, Goole, Gorleston, Gosport, Grange-over-Sands, Grantham, Gravesend, Grays, Great Dunmow, Great Torrington, Great Yarmouth, Grimsby, Guildford, Guisborough, Guiseley

H

Hadfield, Hadleigh, Hailsham, Halesowen, Halesworth, Halifax, Halstead, Haltwhistle, Hanwell, Harleston, Harlow, Harpenden, Harrington, Harrogate, Harrow, Hartland, Hartlepool, Harwich, Haslemere, Haslingden, Hastings, Hatfield, Hatherleigh, Havant, Haverhill, Hawes, Haxby, Hayle, Hayes, Haywards Heath, Heanor, Heathfield, Hebburn, Hebden Bridge, Hebden Royd, Heckmondwike, Hedge End, Hednesford, Hedon, Helmsley, Helston, Hemel Hempstead, Hempstead, Hemsworth, Henley-in-Arden, Henley-on-Thames, Hereford, Herne Bay, Hersham, Hertford, Hessle, Heswall, Hetton-le-Hole, Heversham, Hexham, Heywood, High Bentham, Higham Ferrers, Highbridge, Highcliffe, Highworth, High Wycombe, Hinckley, Hindley, Hingham, Hitchin, Hoddesdon, Holbeach, Holmfirth, Holsworthy, Holt, Honiton, Horley, Horncastle, Hornchurch, Hornsea, Horsforth, Horsham, Horwich, Houghton-le-Spring, Houghton Regis, Hounslow, Howden, Hoylake, Hoyland, Hucknall, Huddersfield, Hugh Town, Hungerford, Hunsdon, Hunstanton, Huntingdon, Huyton, Hyde, Hythe

I

Ibstock, Ilford, Ilfracombe, Ilkeston, Ilkley, Ilminster, Immingham, Ingatestone, Ipswich, Irlam, Irthlingborough, Ivybridge

J

Jarrow

K

Kearsley, Keighley, Kempston, Kendal, Kenilworth, Kesgrave, Keswick, Kettering, Keynsham, Kidderminster, Kidsgrove, Killamarsh, Killingworth, Kimberley, Kingsbridge, King’s Lynn, Kingston upon Hull, Kingston upon Thames, Kingswood, Kington, Kirkby, Kirkby-in-Ashfield, Kirkby Lonsdale, Kirkby Stephen, Kirkbymoorside, Kirkham, Kirton in Lindsey, Knaresborough, Knottingley, Knowle, Knutsford

L

Lancaster, Langport, Laindon, Langdon Hills, Langley Mill, Launceston, Leamington Spa, Leatherhead, Lechlade, Ledbury, Leeds, Leek, Lee-on-the-Solent, Leicester, Leigh, Leighton Buzzard, Leigh-on-Sea, Leiston, Leominster, Letchworth, Lewes, Leyburn, Leyland, Lichfield, Lincoln, Linslade, Liskeard, Littleborough, Littlehampton, Liverpool, Loddon, Loftus, London, Long Eaton, Long Sutton, Longbenton, Longridge, Longtown, Looe, Lostwithiel, Loughborough, Loughton, Louth, Lowestoft, Ludgershall, Ludlow, Luton, Lutterworth, Lydd, Lydney, Lyme Regis, Lymington, Lytham St Annes

M

Mablethorpe, Macclesfield, Madeley, Maghull, Maidenhead, Maidstone, Maldon, Malmesbury, Maltby, Malton, Malvern, Manchester, Manningtree, Mansfield, Mansfield Woodhouse, Marazion, March, Margate, Market Bosworth, Market Deeping, Market Drayton, Market Harborough, Market Rasen, Market Warsop, Market Weighton, Marlborough, Marlow, Maryport, Masham, Matlock, Melbourne, Melksham, Meltham, Melton Mowbray, Mere, Mexborough, Middleham, Middlesbrough, Middleton, Middlewich, Midhurst, Midsomer Norton, Mildenhall, Millom, Milnrow, Milnthorpe, Milton Keynes, Minchinhampton, Minehead, Minster, Mirfield, Mitcham, Mitcheldean, Morden, Morecambe, Moretonhampstead, Moreton, Moreton-in-Marsh, Morley, Morpeth, Mossley, Much Wenlock, Mytholmroyd

N

Nailsea, Nailsworth, Nantwich, Needham Market, Nelson, Neston, Netherfield, Netherton, New Alresford, New Ferry, New Malden, New Mills, New Milton, New Romney, Newark-on-Trent, Newbiggin-by-the-Sea, Newbury, Newcastle-under-Lyme, Newcastle upon Tyne, Newent, Newhaven, Newlyn, Newmarket, Newport (Cornwall), Newport (Isle of Wight), Newport (Shropshire), Newport Pagnell, Newquay, Newton Abbot, Newton Aycliffe, Newton-le-Willows, Normanton, Northallerton, Northam, Northampton, Northfleet, Northleach, North Hykeham, North Kenton, North Petherton, North Shields, North Tawton, North Walsham, Northwich, Norton-on-Derwent, Norwich, Nottingham, Nuneaton

O

Oadby, Oakengates, Oakham, Okehampton, Oldbury, Oldham, Ollerton, Olney, Orford, Ormskirk, Orpington, Ossett, Oswaldtwistle, Oswestry, Otley, Ottery St Mary, Oundle, Overcombe, Oxford, Oxted

P

Paddock Wood, Padiham, Padstow, Paignton, Painswick, Parkeston, Partington, Patchway, Pateley Bridge, Peacehaven, Pendlebury, Penistone, Penkridge, Penrith, Penryn, Penwortham, Penzance, Pershore, Peterborough, Peterlee, Petersfield, Petworth, Pickering, Pitsea, Plymouth, Pocklington, Polegate, Pontefract, Ponteland, Poole, Porthleven, Portishead, Portland, Portsmouth, Potters Bar, Potton, Poulton-le-Fylde, Prescot, Preston, Prestwich, Princes Risborough, Princetown, Prudhoe, Pudsey

Q

Quarry Bank, Queenborough

R

Radcliffe, Radstock, Rainham, Ramsbottom, Ramsgate, Raunds, Rawtenstall, Rayleigh, Reading, Redcar, Redditch, Redhill, Redruth, Reepham, Reeth, Reigate, Retford, Richmond (London), Richmond (North Yorkshire), Rickmansworth, Ringwood, Ripley, Ripon, Rishton, Robin Hood’s Bay, Rochdale, Rochester, Rochford, Romford, Romsey, Ross-on-Wye, Rothbury, Rotherham, Rothwell (Northamptonshire), Rothwell (West Yorkshire), Rowley Regis, Royal Tunbridge Wells, Royston (Hertfordshire), Royston (South Yorkshire), Royton, Rubery, Rugby, Rugeley, Runcorn, Rushden, Ryde, Rye, Ryton

S

Saffron Walden, St Albans, St Austell, St Blazey, St Columb Major, St Helens, St Ives (Cambridgeshire), St Ives (Cornwall), St Just in Penwith, St Mawes, St Neots, Salcombe, Sale, Salford, Salisbury, Saltash, Saltburn-by-the-Sea, Sandbach, Sandhurst, Sandiacre, Sandown, Sandwich, Sandy, Sawbridgeworth, Saxmundham, Scarborough, Scunthorpe, Seaford, Seaham, Seaton, Sedbergh, Sedgley, Selby, Selsey, Settle, Sevenoaks, Shaftesbury, Shanklin, Shaw & Crompton, Sheerness, Sheffield, Shefford, Shepperton, Shepshed, Shepton Mallet, Sherborne, Sheringham, Shifnal, Shildon, Shipley, Shipston-on-Stour, Shirebrook, Shoeburyness, Shoreham-by-Sea, Shrewsbury, Sidmouth, Silloth, Silsden, Sittingbourne, Skegness, Skelmersdale, Skelton-in-Cleveland, Skipton, Sleaford, Slough, Smethwick, Snaith, Snodland, Soham, Solihull, Somerton, Southam, Southampton, Southborough, South Benfleet, South Bank, South Cave, South Elmsall, South Molton, South Petherton, South Shields, South Woodham Ferrers, Southend-on-Sea, Southminster, Southport, Southsea, Southwell, Southwick, Southwold, Sowerby Bridge, Spalding, Spellbrook, Spennymoor, Spilsby, Stafford, Staines, Stainforth, Stalbridge, Stalham, Stalybridge, Stamford, Stanford-le-Hope, Stanhope, Stanley, Stapleford, Staveley, Stevenage, Steyning, Stockport, Stocksbridge, Stockton-on-Tees, Stoke-on-Trent, Stokesley, Stone, Stonehouse, Stony Stratford, Stourbridge, Stourport-on-Severn, Stowmarket, Stow-on-the-Wold, Stratford-upon-Avon, Stratton, Stretford, Strood, Stroud, Sturminster Newton, Sudbury, Sunbury-on-Thames, Sunderland, Sutton, Sutton Coldfield, Sutton-in-Ashfield, Swadlincote, Swaffham, Swanage, Swanley, Swanscombe, Swindon, Swinton (Greater Manchester), Swinton (South Yorkshire), Syston

T

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Y

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The Americans are here. Huge American property auction company, the Real Estate Disposition Company, specialising in sales of foreclosed and distressed properties has announced the dates for its first wave of 5 auctions beginning March 31st at the Hilton Newcastle Gateshead Hotel.

The company’s ferocious and rapid convergence on the UK property market has caused quite a stir, but not quite as much as the fact it charges a 10% buyer’s fee, and that first time buyers have had their offers rejected because REDC auctions now present an opportunity to perhaps get a better price.

In statements released to the press, REDC CEO and co-founder Jeffrey Frieden said:

“When a house is vacant, everyone loses,” he says. “When we put a family into a home, they’re paying a mortgage & utilities etc., and breathing the life back into the property – all of which helps the economy. A home that remains vacant has the opposite effect.

“REDC has turned tens of thousands of bank repossessed houses across America back into homes,” Frieden adds. “As a property auction company, our mission is to bring sellers together with home buyers and a range of investors. Only an auction can determine the true market values of these properties.”

The comparative size of the UK to the US and the hype surrounding REDC entry has generated presents the potential situation that their auctions may become the only place to buy repossessed properties in the UK.

Source Article

Our view is that “movewithus” have little idea about markets, and saying that auctions are destabalising the housing market is as naive as saying short-sellers are destabalising the stock market. It’s also akin to saying that eBay is destabalising the market for … well almost everything! The original article is below.

Originally Published on Thursday, December 11, 2008 by http://www.themovechannel.com

Catherine Deshayes

Property auction sites are doing nothing to help the property market regain its footing, claims property specialist movewithus…

As transaction levels continue to slow, property auctions have grown in popularity as lenders increasingly believe that distressed selling is the only way to sell their repossessed properties.

movewithus Founding Director Robin King believes that undercutting the value of repossession properties benefits no one except the auctioneers themselves.

According to recent statistics from online auctioneer Allsop, 80 per cent of properties sold through their site were repossessions.

Robin King said, “Auction sites sell a high per centage of properties at significantly lower prices than they’re worth. Not only is this unnecessary – our statistics show that repossessed properties are continuing to sell as long as they’re accurately priced and proactively marketed – it also destabilises the housing market.

“Undercutting a repossession property’s true worth means both borrowers and lenders get less financial security and paints the false picture that homes will not sell unless they are underpriced.”

Mr King acknowledges that general house prices need to fall further to increase transaction levels but feels that the drastic cuts that lenders accept through auction sites are simply not necessary.

Mr King explained, “It’s true that the general market is still overpricing properties, which is stopping people from buying. Prices need to fall, but to realistic levels, not distressed levels.

“Through White Hot Property, our repossession and part-exchange property trading brand, we are selling close to 40 per cent of our properties each month – not by undercutting value, but by setting realistic prices based on independent valuations and implementing proactive sales strategies,” he added.

Source: movewithus

And in repsonse…

Gary Murphy, Partner and Auctioneer for Allsop said, “I recently noticed commentary from Movewithus, who suggest that auction sales are “undercutting values”

“Auction prices are not undercutting values. They ARE values. That’s why lenders are happy to use auction to sell repossessions.

“If lenders did not achieve value, they would be in breach of their duty to their borrowers. An early sale stems further losses incurred through accrued interest payments and potentially falling house prices.

“Technically the borrower remains liable for those losses.

“Importantly, auctions enable empty homes to be reintroduced to the market and made available for occupation as quickly as possible.

“Owner occupiers, and first time buyers in particular, now have the benefit of choice and affordability.

“The sooner we accept that prices are falling, the sooner we’ll reach stability in the housing market and recovery will follow.

“If we continue to deny the inevitable, the pain will be prolonged and potentially more harmful to those affected,” he added.

Let us know your views

Do you think auctions are necessary? Let us know on catherine@themovechannel.com.