Property Auctions And Cheap Houses For Sale

If you want to buy at property auctions in the UK, a good starting point is to know which regions have cheap houses for sale. Despite the fact that many houses are now selling for less than their market value, there are still some areas that outsell others in terms of sale prices. I use property auction houses as a sounding board for no other reason than generally that’s where the real bargain are to be found.

As the fiscal year trudges on, despite the fact that things ain’t looking up any time soon ( re the global slump/crunch/recession, call it what you will), the desire for the buying of houses doesn’t appear to be on the wane. I won’t bore you with the figures, as I prefer not to have to wade through quant’s and stats any time I’m reading up on something I’ve little knowledge in but suffice to say that the UK house buyers market remains pretty buoyant.Conwy – North Wales

That’s supposing that you have the readies to do so in the first place. However, some do, that much is clear and the areas that appear to be benefiting from cheap houses for sale at various property auctions and estate agents are:

  • Wales – Conwy
  • Scotland – East Dunbartonshire
  • West Midlands – Dumfries and Galloway
  • South East – Hampshire
  • East Midland – Derbyshire

So, now you now, are you willing to buy a house in any of the above five regions? I guess that would depend on whether you already live there, want to live there or fancy your chances in the rental market. Whatever you think of it, it is good news. It does support the fact that 2011 is a buyer’s market, despite how gloomy the general financial outlook is for most of us.

Nottingham. The Forest to be exact. No cheap houses for sale in the forest,
used gratuitously due to the stunning vista.

Of course buying a house in one of the top five regions isn’t mutually exclusive with finding yourself living in an affordable town or city. Is Conwy cheaper than say the North East? Is the North East cheaper than living in West Wales? That’s a whole other board game. According to the stats (once again) some of the cheaper areas to live in (that don’t meet the cheapest house price list) are places such as:

  • Staffordshire
  • Nottingham
  • Warrington
  • Cumbria
  • Bedford

The above are but a few of a list of ten and of course you can do your own research and find out for yourselves. It’s always worth testing the market way before you drop a huge wedge of cash into anything significant. Scan the property auctions in the UK – there’s plenty of them, and get onto the mailing lists of the estate agents. A couple of phone calls or a shufty on the internet will get you the details.

It’s always worth checking further afield when it comes to wheedling out the bargain properties that currently litter our suburban melting pots. Let’s face it, the way our current Government is going it’s likely that more of us will be handing our homes back to the banks (read: relinquishing ownership under sufferance) than ever before, and we know what that means don’t we? Yup … even more cheap houses for sale.

Pictures: Wikipedia Commons - Users: Dbenbenn, Fuz

OBAMA ADMINISTRATION RELEASES MARCH HOUSING SCORECARD

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the March edition of the Obama Administration’s Housing Scorecard. Officials caution that the latest housing figures underscore fragility in the housing market and the need to continue efforts to help American families stay in their homes. The housing scorecard is a comprehensive report on the nation’s housing market.

“There’s no question that this month’s figures show a troubling dip in home sales and housing prices,” said HUD Assistant Secretary Raphael Bostic. “While we should not ignore the real impact that the Obama Administration’s programs are having for millions of homeowners and borrowers, these statistics clearly show that housing markets across the country continue to struggle to regain stable footing. We must remain steadfast in our efforts to support homeowners and communities in ways to help advance market stabilization and a transition towards health.”

“The latest data underscore the importance of continuing our efforts to help families stay in their homes,” said acting Assistant Secretary for Financial Stability Tim Massad. “Each month, the Administration’s Home Affordable Modification Program helps over 25,000 additional families avoid foreclosure, and it has set important standards that have led to more than 2 million mortgage modifications outside of the program. We are also working hard to implement additional programs to assist families in the hardest-hit states. We will continue these efforts so that we help more Americans remain in their homes and help our nation recover from this crisis.”

Available online at www.hud.gov/scorecard, the March Housing Scorecard features key data on the health of the housing market including:

  • Housing market remains fragile as data through February paint a mixed picture of recovery. Home prices remain weak under continued strain from foreclosures and distressed home sales, according to CoreLogic data now available in the Housing Scorecard. Mortgage delinquencies continued a downward trend compared to early 2010 and foreclosure starts and completions remain below peak. However, as lenders review internal procedures related to foreclosure processing, many foreclosure actions have been delayed. The decline is likely to be temporary as lenders eventually revise and resubmit foreclosure paperwork in the coming months.
  • Administration efforts have helped millions of families deal with the effects of the deepest economic crisis since the Great Depression. Since April of 2009, record low mortgage rates have helped nearly 10 million homeowners to refinance, resulting in $18.1 billion in total borrower savings. More than 4.4 million modification arrangements were started between April 2009 and the end of February 2011 – including more than 1.5 million HAMP trial modification starts, more than 776,000 FHA loss mitigation and early delinquency interventions, and nearly 2.2 million proprietary modifications under HOPE Now. While some homeowners may have received help from more than one program, the number of agreements offered was more than double the number of foreclosure completions for the same period (1.9 million). View the February HAMP Servicer Performance Report.

Given the current fragility and recognizing that recovery will take place over time, the Administration remains committed to its efforts to prevent avoidable foreclosures and stabilize the housing market.

Each month, the Housing Scorecard incorporates key housing market indicators and highlights the impact of the Administration’s unprecedented housing recovery efforts, including assistance to homeowners through the FHA and HAMP. The Obama Administration’s complete Housing Scorecard is available at: www.hud.gov/scorecard.