(PRWEB) April 12, 2014
The price you will pay for an average 3 bedroom house in an expensive part of the South would be enough to buy you 25 houses in the North, according to the Daily Mail report from 16 March 2014.
The data came from a new survey conducted by Hometrack on 376 houses in the U.K. which found that a 3-bedroom home in Chelsea and Kensington cost an average of £1.8 Million, while 400 miles north in East Ayrshire the same home would only cost £72,500.
“People are scrambling to buy houses for sale at a bargain price now that house prices in some parts of the U.K. are breaking records. A lot of U.K. residents believe that when they are able to negotiate the price of a £200,000 house down to £180,000 they are getting a bargain. That is incorrect,” according to Rick Otton, the man who introduced creative real estate strategies in the U.K.
“The reality is that dropping the price of a property doesn’t necessarily improve its affordability. Even after the £20,000 discount, the usual barriers to entry are still there such as paying a high deposit and qualifying for bank finance. As a result, the lower price point didn’t make the house any easier to buy,” he said.
“The real bargain is created in the terms. If the terms are convenient enough, people will make the purchase. The concept is very much like convenience stores. In 7-Eleven, for instance, prices are more expensive compared to shopping at a Sainsburys. But people still buy goods in 7-Eleven because it’s convenient. The same can be done for houses. As I always tell my students, if a house is easy to buy, then it becomes easy to sell. It’s as simple as that,” he explained further.
Mr. Otton shared in an interview for his limited edition Power Property Profits Pack that when buying a house it’s not about the price you pay, but how you pay the price of a property for sale
“Remember that the old processes were created hundreds of years ago, and we’ve got to update the process to keep up with the modern times we live in now,” he said.
For more information on how to buy and sell properties using seller finance, visit http://rickotton.co.uk/freepack/ to get a free 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.