23/04/11 - Acorn introduce sales into their property portfolio of services

With over fifteen years of experience as property letting and property management specialists, Acorn has responded to the requests and feedback from its clients and customers and is launching a new sales service for the general public and investor community.

Managing Director John Henderson explains that this is simply a natural and logical progression for the Acorn brand as we have many landlords looking to increase their property portfolios and others who wish to divest. In addition we have been approached by members of the public looking in the Newcastle area so it seems prudent to respond to customer demand.

Acorn however is not entering this property arena wearing rose tinted glasses. John points out that the property market has suffered considerably over the past two years. Prices have reduced substantially, combined with the lack of finance being provided by the financial institutions. Some lenders are requiring 190% of rental income as a return on investment for buy too let with a 60 to 70% loan to value!

Acorn advises you to take news of any economic upturn with a generous pinch of salt. There is certainly a renewed interest from the buying public and the lending community. However John feels there is still a long way to go before we get a settled never mind a growth situation in the sales market.

We need a renewed air of optimism, tapered with good common sense and a realistic appraisal of where the market is really at. If people want to move then any loses they take from the “perceived value” of their property should be offset by the reduced value of the property they want to buy.

Most people forget that a recession is a great opportunity to trade up and increase the property value for everyone that participates says John. If the market values are lower than they previously were, then if you are trading up you will make a greater saving on the higher price. This makes it a benefit to trade up in a recession. People tend to talk themselves down in a recession, as do newspapers and the media as a whole. Every cloud has a silver lining and a recession is no different. To succeed, your glass should always be half full and never half empty.

If you would like to chat about buying or selling, feel free to give Acorn a call or arrange to come in to the office for a chat. We can offer you a full package including our specialist knowledge of the property investment market and the returns on investment that you can achieve as well as finding the perfect home for you and your family.