The Royal Institution of Chartered Surveyors (RICS) this week reported that new buyer enquiries edged up nationally, a welcome improvement which has also been the trend across DB Roberts branches in Shropshire, Staffordshire and the West Midlands.
‘We have had a busy March’, says DB Roberts Sales Director Jo Culley, ‘with a marked increase in activity. The number of new applicants being registered is well up on previous months, and we have arranged many more viewings.
The disappointing Easter weather may have dissuaded people from going away, which could explain why enquiries over the Easter weekend were higher than expected – buyers were easily able to contact us as our offices were available for longer hours than most over the weekend.
‘While there is no sign of values increasing, it is fair to say that well presented and correctly priced properties are attracting more interest resulting in earlier sales. Conversely, properties which came onto the market in 2011 at slightly optimistic prices are proving slow to move and sellers are having to be realistic in order to attract interest from buyers, who still have plenty of choice.
‘There is still a lot of investor activity, and demand for rented property remains strong. DB Roberts membership of SAFE AGENT is attracting more landlords to entrust management of their properties to us, and this side of our business is growing particularly fast.
DB Roberts also say that mortgage activity is up. Mortgage Sales Manager, Rob Brookes, explains:
‘We are dealing with a much higher level of mortgage enquiries through DB Roberts branches from prospective buyers, and also as many home owners consider switching their current mortgage from a variable, to a fixed rate in order to have the certainty of a fixed monthly cost going forward. Our advisors have access to some very attractive exclusive mortgage products which are not available on the High Street, and discerning applicants appreciate being given a wider choice of options than they can achieve by visiting a single lender.
When Steve Schwartz, the Manager of our Stafford Branch, arrived for work recently, the last thing he expected as he opened the door was a tidal wave of dirty smelly water!
As Steve entered the branch, water was still pouring through the ceiling onto furniture and computers and parts of the ceiling had fallen down; the carpet was under water. It’s the sort of thing we all think cannot happen to us, but when it does, it’s a major headache.
Water and electricity definitely do not mix, so we had no power and no light; the telephone system was out of action and, when Steve lifted one of the computer processors from the floor, water poured out of it. With no light, no phones and no computers, Steve realised he needed to act quickly in order to continue to service the clients of one of our busiest branches.
The first task was to stop the flow of water still pouring through the ceiling, which was found to be coming from a faulty dishwasher in one of the upstairs flats. Phones were diverted to our Marketing Centre, staff relocated to other branches and the clean-up operation started.
Within a few hours, limited light, power and computer operations had been restored and phones switched back into the branch. Carpet drying equipment extracted over 200 litres of water and dehumidifiers were brought in to finish the job. Within a couple of days, new IT equipment had been sourced, installed and programmed into our networks; Stafford had continued to trade throughout – and sold several properties! Since then the ceiling has been repaired and redecorated and new lighting installed.
The cost amounted to thousands of pounds but, fortunately, we were insured. So apart from some inconvenience, we hardly missed a beat. But if we had not been insured, the result would have been very different.
Of course, the damage would have been the same from a burst pipe or collapsed water storage tank in the roof – and it could happen to you. Skimping on insurance is a false economy – certainly we were glad that we review our cover annually to ensure we are adequately covered.
When was the last time you reviewed your buildings and contents insurance? Do you even know what you are covered for, what exclusions there are, and how much of any claim you have to pay yourself? The cheapest cover is often not the best value – but you can only tell if you compare products carefully. If you would like help and advice on taking out, or reviewing, your insurances, talk to one of our experienced advisers. Their initial advice is free – just contact any of our branches.
It’s just a week since we moved into our new offices in Wellington; and they are already proving a hit with clients and staff alike.
The double fronted office is light and airy, with lots of display space for properties for sale and to let and we are already noticing a lot more prospective buyers and tenants visiting us in person. Valuer Matt Hood, Sales Negotiator Mel and Lettings Negotiator Abi are really pleased to find themselves in such a nice working environment – and to have lots more clients visiting them!
Mortgage advisor Stephen Bath has settled into the private Mortgage Advice Centre, located in a screened area in the branch, and has had a busy week placing mortgage applications for new clients.
Our Chairman, Bill Brookes, himself a Wellington resident, points out that we first opened in Wellington in 1964 and have been here ever since; we are now selling houses to and for the children (and sometimes grand children) of some of our clients from the 1960’s and ‘70’s!
To celebrate our move, we are offering some very special deals on new instructions for both sales and lettings, so why not give us a call – or better still pop in? Our number is still the same – Telford 256272.
See you soon!
Earlier this month worried landlords and tenants attended a meeting of creditors owed money by estate agents The Property Showroom, which had shut down and left clients worried about thousands of pounds in rent and security deposits held by the firm.
It seems that the Company managed about 80 properties and was a member of the Property Ombudsman Scheme, but does not appear to have been a member of a regulatory body such as RICS, ARLA or NALS, meaning that it may not have had any Client Money Protection Cover.
The agents were based in Leeds.
Of course it couldn’t happen here – or could it? A few weeks ago, we highlighted the case of Wolverhampton lettings agent who had gone out of business, leaving landlord and tenants out of pocket. And the fact is that in every area there are, unfortunately, agents who at this moment have no protection in place for clients money. They may hold thousands of pounds of clients money, but there are no checks that it is safe – often it is held in the same bank account as the agent uses to pay his own business and personal bills.
As the economic situation continues to squeeze businesses of all types, some non-regulated agents will continue to put rents and deposits at risk. And yet, a few simple checks on an agent can give more peace of mind, and more financial security.
Remember, simply being a member of the Property Ombudsman Scheme does not offer financial protection to consumers. Check the websites of Royal Institution of Chartered Surveyors (RICS), Association of Residential Letting Agents (ARLA), National Association of Estate Agents (NAEA), the Law Society and National Approved Lettings Scheme (NALS). If an agent is not regulated member of one of these organisations, you are at greater risk of becoming another creditor – just like those in Leeds & Wolverhampton.
D B Roberts Property Centres are regulated by RICS.
Leading estate agents DB Roberts Property Centres are urging borrowers to review their mortgage arrangements, saying that substantial savings might be possible, following interest rate hikes by major lenders.
Sales Director, Jo Culley, explains:
‘The Halifax has already announced that it will increase its standard variable rate (SVR) to existing lenders with effect from 1st May this year. This was closely followed by the news that RBS/NatWest will be doing the same on some of its mortgages. Less than two days later, Bank of Ireland announced a massive 1.5% increase in its SVR to be phased in over the next 6 months – it seems likely other lenders will follow suit. Borrowers may not realise that all Bristol & West mortgages are held by Bank of Ireland.
‘The SVR is the interest rate borrowers pay after their fixed rate or tracker rate has ended; it can be changed by the lender at any time regardless of what happens with the Bank of England rate (which is currently remaining unchanged at a record low).
‘We estimate that 850,000 Halifax customers will see their payments increase on May 1st, and a further 200,000 RBS customers with One Accounts or NatWest One accounts will also see their payments jump.
‘The Halifax rise to 3.99% will add £62.75 to the monthly payment for an average borrower – that’s more than £750 a year. We at DB Roberts believe that, with the right advice, many readers can avoid such a crippling rise at a time when family budgets are already squeezed.
DB Roberts, whose Property Centres offer a wide range of services in addition to selling and letting property, such as legal conveyancing, mortgage and insurance broking, are inviting anyone worried about these increases to contact their nearest DB Roberts branch.
Chairman, Bill Brookes, says DB Roberts is ready to help.
‘You don’t have to have obtained your mortgage through DB Roberts, or even bought or sold your home through us. We have specialist advisers who can offer independent whole of market advice. We also have access to exclusive rates not available direct from lenders or other brokers.
‘Just call any of our branches to arrange a no obligation chat. And remember, you can reach us from 8am to 8pm on weekdays, 9am to 4pm Saturdays and 10am until 2pm Sundays. We think we could save some borrowers up to £1,080 a year!
A recent survey by DEFRA stated that 660 Shifnal properties were at risk of flooding, however, a further study by Shropshire coucil has sited a figure closer to 80. 60 properties were flooded in 2007 when Wesley Brook became a’ raging torrent’, however, works have since taken place on the brook. When speaking to the Shropshire Star this week, D B Robert’s Sales Director Jo Culley, commented that local people knew that flooding in Shifnal was rare and that as most property buyers were from in and around the local area the reports had had little impact on local property prices. Shifnal remains a sought after and desirable place to live.
Top selling estate agents DB Roberts Property Centres have announced they are planning a new branch in Wellington. Situated in busy Market Street, DB Roberts say that the new premises reinforce the firm’s commitment to the town where founder Denis Roberts first opened, almost 50 years ago.
Announcing the move, DB Roberts Director, Jo Culley said:
‘We are delighted to have secured these excellent double fronted ground floor premises, prominently situated opposite Wilkinsons and the entrance to the busy Wellington Market.
‘DB Roberts already sell one in three of all homes in North Telford which includes the TF1 postcode area, and our Lettings & Property Management services have also proved extremely popular with landlords owning property in the town.
‘We will use the new branch to further expand DB Roberts Conveyancing Services. In addition, our well-known and experienced mortgage advisor Stephen Bath will be based in the office, ready to offer free initial advice and assistance with mortgage and insurance needs.
Chairman Bill Brookes, himself a Wellington resident who was educated at Wellington Grammar School, added:
‘The firm’s founder opened for business in Wellington in June 1964 and DB Roberts have now clocked up almost 50 years of unbroken trading in the town ,during which time we have helped thousands of clients to buy, sell and rent property here.
‘We are confident that Wellington has a bright future, of which we intend to be a major part, and we are looking forward to celebrating our 50th birthday in 2 years time.
DB Roberts say they will announce the opening plans for the new branch soon, and expect to make announcements of further expansion shortly.
Advice from D B Roberts Survey Services on a common problem. Read more
Estate Agent DB Roberts & Partners say that a ‘reality gap’ may be stopping local homeowners from finding a buyer – and that it may be their estate agent’s fault. Read more
Leading estate agents, DB Roberts Property Centres have questioned the effect of the latest Government housing initiative announcements on the market for existing homes. Read more
