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West Lothian Property Market
Enquiries on the rise as West Lothian house prices represent a good deal for the buyer.
During the turbulent last year in the property market, with house prices crashing all around us, people have been wondering where this will leave us all? Whether you are an estate agent or a homeowner; it has been worrying times for us all. However, in the last few months we have seen some light at the end of the tunnel. During the last three months, enquiries have doubled compared to the previous quarter. Visitor levels are on the up, showing that the buyers are beginning to circle once again. With West Lothian property prices at the lowest point in years, people are again beginning to ponder their next move. Sure there is still a risk; with the uncertain economic backdrop and the rising unemployment levels - but think about all those properties that were out of reach a year ago but now firmly within your grasp. This time last year, you couldn't spot a property under the £100,000 mark with a "For Sale" sign in West Lothian, but now properties are appearing on http://www.housespotters.com/ for less than half that price and with some real bargains for the more astute buyer.
Rics research stated in May 2009 "As in August 2008, Scotland appears to be the least affected region with vendors achieving sales at 97 percent of asking price with 75 percent of surveyors reporting that the gap between asking and selling prices has narrowed in the last three months". This is because there has been an element of realism in Scotland and estate agents here have adjusted their client's selling prices to suit demand. My feeling is that if you are putting your property up for sale, you have to forget about the fee that you once dreamt of and have a quick look around the marketplace to see what properties in a similar fashion to yours are going for. Don't be too down-heartened by the news; as the property that you will be going for next will have suffered a similar fate to yours and if you have enough equity in your home, this downturn will not have affected you too much. Although you will be pleasantly surprised to find that your mortgage payments will be down a great deal from what they would have been last year.
Keep looking because out there you will find your dream home at an affordable rate!
Article by Craig Burns
Email:craig@housespotters.com
Web: www.housespotters.com
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