whenever there is high demand with very little supply, prices go up – making it more difficult for homeowners to buy property
(PRWEB) March 22, 2014
8 buyers compete for every 1 property for sale in the U.K, (the Mortgage Introducer reported on 17 March 2014).
Transactions for houses for sale jumped 17 percent annually and 7 per cent monthly, while applications for first home buyer mortgages also increased 7 per cent monthly and 13 per cent yearly.
“Competition is high for properties for sale around the country because of low supply in new or old dwellings being put on the market. And whenever there is high demand with very little supply, prices go up – making it more difficult for homeowners to buy property,” according to Rick Otton, one of U.K.’s most trusted property coaches.
“I believe that this shouldn’t be the case every time housing supply is down. Unfortunately, this chain reaction happens, since people tend to focus on the price and not on how the price is paid,” He discussed further.
Mr. Otton then revealed in a recent interview for his sought-after Power Property Profits Pack that there are more ways to buy houses for sale other than outbidding the competition.
“Most of the time, people sell their houses to get rid of an old debt they can’t pay. So if a buyer promises to take over the payments over the seller’s old mortgages, buyers won’t need to save up a lot of cash to get new mortgages. On the other hand, it helps sellers let go of bad debt without having to spend out of pocket,” Mr. Otton shared.
If you want to learn more creative strategies on how to grow your property portfolio or buy your dream home without paying a large amount of cash, just visit http://rickotton.co.uk/freepack/ to download your copy of Rick Otton’s limited edition Power Property Profits Pack.
About Rick Otton
Rick Otton is a property investment professional who, over the last 23 years, has introduced innovative real estate strategies to the UK, Australian and the United States. His creative ‘low-risk, high-reward’ approach to buying and selling houses is exemplified in his own business, We Buy Houses.
This year marks the 10 year anniversary of Mr Otton introducing his strategies to the UK, and the 5 year anniversary of his innovative ‘Buy A House For A Pound’ process – one that attempted to be emulated by others. His constant process of strategy refinement, and adapting to the ever-changing real estate market, continues to place him at the forefront of property investment education.
In 2012 Rick Otton published his Australian book ‘How To Buy A House For A Dollar’ which was named in the list of Top 10 Most Popular Finance Titles for 2013. A UK version is on the drawing board for publication in 2014.
Mr Otton freely shares insights into his non-bank-loan strategies that have allowed everyday UK men and women to beat the rental cycle and have their own homes. He coaches others on how to build profitable businesses by facilitating transactions that focus on the needs of potential buyers and motivated sellers.
Access his free downloadable Power Property Profits Pack at RickOtton.co.uk, as are the details of early bird pricing for his next UK 3-day real estate training conference in March 2014. Phone enquiries in the UK are welcome on 0207 000 1027.